Exchange trading, also known as spot trading, is the process of using the funds on your account to buy or sell for other funds.
How to make an exchange trade?
1. Firstly, log in to your Bitfinex account.
2. Make sure you have enough funds in your exchange wallet.
Note: The minimum order size differs for each trading pair. You can view more information in our article What is the minimum order size?
3. On the main trading page that you are directed to after logging in, find the Tickers box.
Here you will be able to search the trading pairs to find the one that you wish to trade with.
4. In our example, we will look to sell Tether USDt tokens and buy some Bitcoin.
Therefore, let’s look for the BTC/USDt pair. You can enter BTC into the tickers box and also use the drop-down menu on the left to search for the quote currency that is USDt.
5. Now, on the same trading page, find the Order Form widget.
This is where you will be entering the details of the trade you wish to make.
6. Since this is an exchange trade, be sure to select Exchange on the top left-hand corner of the order form.
7. If you select Limit order as your order type, you will need to enter the order size and the price. You can also choose from a variety of other order types from the drop-down menu and learn more about order types here.
Using the BTC/USDt example, this would mean specifying how much BTC you would like to buy for what price in USDt.
Alternatively, if you choose a Market order, your order will be executed at a current market price, and therefore there is no need to fill in a price.
8. Great! Now your order will appear in your Orders widget, showing information about your trade before it executes. You can also cancel and edit the trade or trades as you wish. For more information, please view: Order Bulk Editing & Selection Options.
9. Once your trade has been executed, the funds will be credited to your Exchange wallet.
10. The executed order will then move to the Order History widget.
What are trading fees at Bitfinex?
You will be charged maker or taker fees, respectively, depending on the type of order that you made and whether it added or took liquidity from the Bitfinex order books.
If you have any inquiries, please don’t hesitate to reach out to Bitfinex Support.