To get started trading on Interdax, go to https://www.interdax.com and log in (or sign up).
Interdax’s trading interface is shown below and comprises various panels:
The first thing you need to do to start trading is to make a deposit, which can be done via the profile menu. The profile menu also enables you to manage your profile and withdraw any profits from closed trades.
The profile menu (highlighted above) can be used to;
make deposits and withdrawals,
view your order history/trade history,
view and share your Interdax referral link,
change the security settings, and
log out of the platform.
Once you have deposited some coins, you can then select the instrument you plan to trade.
The instruments panel is found on the upper left-hand side of the interface. When you click on the panel, a menu will be opened that displays the perpetuals.
Select the contract you want to trade by clicking on the instruments panel, highlighted above.
Select perpetuals from the menu, and then select BTC-PERP to margin trade bitcoin.
Trading Chart panel
After selecting the instrument you want to trade, you will want to look at the trading chart to see the most recent price action and for technical analysis. You can plot trend lines, Fibonacci extensions and many more features as TradingView is integrated into the chart.
The trading chart panel allows you to change the chart type (e.g., from a candlestick chart to a bar chart) and to analyse price action on different timeframes. Click on '1H' to change the timeframe or the candlestick symbol next to it to change the chart type.
The trading chart can be enlarged with the full screen option on the top right-hand side.
Click on the blue arrow at the bottom left-hand side to open the 'Drawings Toolbar' and to add indicators use the 'Indicators' button (both highlighted below).
- Any open positions or limit orders (along with the position size and realised PnL) will also be displayed on the trading chart as a horizontal grey line.
Order book panel
Before you submit an order, you may want to check the order book panel.
The order book for the instrument you are trading is displayed here, as well as the current market price and order book depth. The ask and bid orders closest to the market price are displayed.
Any active orders will be highlighted in yellow on the order book.
Use the '+' and '-' buttons at the bottom right hand side to change the price increment on the order book.
In the screenshot above, the cumulative value of orders on the book are shown for each $0.50 price interval. Click on '+' to increase the price increment to $1.00 to see the orders and cumulative value on the book.
The order book panel also displays your completed trades through ‘recent trades’ and allows you to chat with others traders in the ‘trollbox’ using Discord.
Once you've chosen your instrument, analysed the chart to determine your entry and exit prices and examined the order book, you are ready to submit an order.
You can select different trade orders (from market, limit, stop-limit, and stop market orders) and enter the quantity you want to trade.
- For limit orders, the time in force options allow you to specify how long a limit order should be active for.
- The 'Post-Only' option ensures that a limit order is added to the order book and not matched with a pre-existing order.
The order panel also displays the cost and value of the order, as well as the available balance, as you input the position size into the quantity box.
After an order is submitted, you will be asked for confirmation. Click 'Buy' (or 'Sell') to confirm the order. To cancel the order, click 'Cancel'.
Tick 'Don't show again' to prevent the confirmation screen from appearing again.
You can also change the confirmations from the profile menu.
Once your order has been executed, the position will appear in the positions panel. You can also check your open orders, stops, fills and order history.
Once you submit an order, it will appear in the relevant tab of the positions panel, i.e., a market order will appear in the positions tab once submitted. To cancel an order, click on ‘Cancel’ in the Active Orders tab.
The Positions tab above shows the position size, the value of the position, the entry price, mark price, the liquidation price, the maintenance margin, realised PnL, the trading account you are using, a grey box to enter a price in, and the ‘close’ and ‘market’ buttons.
To close an open position, you can click on the blue ‘Market’ button to exit the trade at the current market price. You can also specify a price in the grey box and click on ‘Close’ to submit a limit order (highlighted below).
Sub-accounts can be used to modify the risk you take and adjust your leverage. The balances and leverage in a sub-account is isolated from the main trading account. A liquidation of a position in a sub-account will not affect the balances or positions of the main account.
Once you've entered or exited a position, you can check your account balance using the account menu.
The balance and the name of the trading account currently in use are displayed by this panel. Click on the account menu to select between different accounts.
You can also create new sub-accounts using the account menu. To create a new sub-account, click on the profile menu, then on ‘New’ and give your sub-account a name.
The Browser panel
The browser panel gives an overview of the markets on Interdax, your balances and used margin.
The upper part of the browser panel displays information on the instrument that was selected from the instruments panel, including the index price, 24-hour gain/loss in USD, 24-hour percentage change, open interest and the value of one contract.
The lower part of the browser panel displays the symbols, last price and 24-hour percentage change for all instruments traded on Interdax.
You can also select 'Balance' to see your balances across different assets and click on 'Margin' to show your used margin (the initial margin of any open positions) versus your available balance.
Customising the Trading Interface
A few extra features to be aware of are the customisable user interface and trading announcements.
Interdax's user interface is customisable and you can adjust the positioning of the panels using the button at the bottom of the screen, highlighted below.
You can also access the profile menu and toggle full screen with the buttons on the bottom right-hand side.