Wirex believes in full transparency and clearly outlines all terms and conditions of the Wirex Multiply deal. We recommend that you fully comprehend this information before participating in any financial activity on the cryptocurrency market.
Firstly, to minimise risk, it’s important to have a good understanding of the cryptocurrency market movements, regularly monitor your open Wirex Multiply positions, and ensure that they do not go below the Margin Call level. This will prevent Wirex from automatically closing your Wirex Multiply deal at an inopportune time, thereby locking in your losses.
To maximise profits, it’s important to have a clear understanding of when to exit a Wirex Multiply deal. Set a target price using the Take Profit feature and have a mental limit of how much you are willing to lose before closing the deal.
The Lock Trading Strategy can also be used by opening two Wirex Multiply positions simultaneously, increasing your chances of profiting as the market will either go up or down.
Lastly, we recommend to start with small amounts to get a better understanding of the benefits, risks, and costs associated with Wirex Multiply. This will also help develop a disciplined strategy before you apply it to larger amounts.