What to do when the contract goes into deficit and you owe money to the platform? The only detailed practical sharing on the entire internet 📣📣📣

Don't panic, there is a solution to everything.

Step 1: Stop transferring funds to the contract account, as debts will be automatically deducted. Don't worry if there is money in your spot account; the platform will not transfer it to the contract to compensate for the debt. Just know that if the debt is not resolved, your ability to withdraw will be restricted.

Step 2: Contact customer service to submit a request ticket, detailing your problem, historical positions, screenshots of orders at the time of liquidation, and other evidence. State your request for zeroing out. If needed, you can ask me for the ticket application template I submitted.

Step 3: Patiently wait for the review. Small amounts are usually approved instantly, but amounts greater than $10,000 may require several rounds of communication. During the communication process, do not use foul language or try to shirk responsibility. The losses you agreed to when opening the contract account are all your responsibility. You just need to provide your screenshot order images with reasonable evidence and describe your issue in detail.

Liquidation is not scary; it’s a valuable lesson!

When engaging in contract trading, strictly set stop-loss orders. Setting your stop-loss near the liquidation price will not harm you.

In case of liquidation, you will also incur a 1.5% liquidation fee on your position, which is a waste of money and a form of intelligence tax. Many people find that their account has $1,000, and they open positions one by one, only opening $800 in positions. Logically, liquidation should only involve $800, but in the end, there is nothing left. This is the liquidation fee that most people are unaware of, commonly referred to by me as the intelligence tax.

Set your stop-loss price. If your account goes into deficit, regardless of how much you owe, it will be beneficial for future communication with the platform, maximizing your loss reduction. For those who often use high leverage or engage in arbitrage, the platform may not agree to zeroing out.

Did you learn something? If you did, please give me a follow and share your support.