In this tutorial, you will learn how to place your first order on Nexex.
Before starting with the order creation, please pay attention to the Markets page and its content. Nexex Exchange offers the customer the ability to customize the trading interface: you can move the various sections or hide them according to your needs.
At the upper left corner, you can select the preferred market by clicking on the trading pair menu. You can also type the desired currency. The same menu shows the following info: trading price, 24h percentage change, 24h high (the highest price reached in the last 24 hours), 24h low (the lowest price reached in the last 24 hours).
The main part of the Markets page is represented by the chart: it shows a currency’s price trend over a certain period of time. The green and red bars (called “candlesticks”) represent the opening and closing price inside a specific time frame. If a candlestick is green, it means that the opening price in that specific time frame was lower than the closing one (increasing price), if a candlestick is red, it means that the opening price was higher than the closing one (decreasing price). By hovering the mouse over the chart and using the mouse wheel to zoom in and out, you can see more details about each candlestick. The chart also offers customization options.
Looking right, you find the market depth and the order book. The market depth represents “visually” the sum of buy and sell orders at a specific price (supply and demand). In other words, it gives an insight about bids (buy orders - green line), asks (sell orders - red line) and, accordingly, the capacity of the market to sustain large orders without impacting the actual price. Like the chart, also the market depth has a zoom in and zoom out function. The order book is the list of every buy and sell order inside a specific market. Traders can put buy and sell orders at different prices, each one is displayed inside the order book, in real time. Reading the order book helps users to make their trading decisions. All the orders are displayed but the participants are not known.
At the lower left corner you can find your balances. The box gives a quick insight about the trader’s wallet by displaying amounts, BTC value and EUR value. It has a search function to quickly find your desired currency and you can also choose your favorite ones.
Next to the balances box, you can find the Limit/Market order box, where you place your trades. In the Nexex platform, you can create two types of orders depending on your trading strategy. A limit order is created when the Coin/Token desired buy/sell price is specified. A market order is created when the Coin/Token is bought/sold at current market price. Limit orders are used when the traders want to have control over price more than on quick execution of the order. Market orders are generally faster and simpler than Limit ones as they are executed as soon as there are open orders from other traders.
Looking right, you find your open orders and your trade history. The first one gives you a quick view of your opened orders and also gives you the ability to cancel them without leaving the Markets page. The second one shows your last trades made in the selected market.
At the lower right corner you can see the trades history. This box shows all the latest trades made inside the selected market. You can see the time, the trade type (buy or sell), trade price and currency amount.
To create your first order on Nexex, you will need to deposit a currency first. To do so, select “Wallets” from the top menu to access your funds. In this page, you can find a complete list of the currencies available on Nexex, together with details about total balances, coins locked in opened orders, available amounts and BTC real time value. On the right side, you can see your portfolio value in both BTC and Fiat. To make a deposit, simply choose the desired currency and click the green “Deposit” button: a menu will appear with a list of your deposit addresses, QR codes and a “create new address” button.
To copy the address, simply click on the copy button next to it or scan the QR code. Paste the address in your external wallet and send the desired amount to your Nexex account. Always double check the address before sending coins.
IMPORTANT: Sending any currency to a wrong address will result in the permanent loss of your deposit. All addresses will remain valid but it is a good practice to generate a new address for each new deposit.
Select “Transactions” from the top menu to access the transaction history page. All the transactions are displayed by creation date, type (deposit or withdraw), coin, amount, address (deposit or withdraw address), transaction ID, status. Once the upcoming transaction is confirmed (you can check the status also by clicking on the ID and you will be redirected to the coin’s Block Explorer), you will receive a confirmation email of credited deposit and the status will change from “pending” to “completed”. Balance will show in both Wallets page and Balances box inside the Markets page.
Let’s see how to create a buy order in the ETH/BTC market pair. As previously mentioned, in Nexex you can create two types of orders: Limit and Market.
To create a Limit order, select the “Limit” menu and proceed as follows:
- type the desired price
- choose the amount of ETH you want to buy according to your balance
- check the total and click the green BUY ETH button
A prompt menu will appear, click “Confirm” to execute the order. Please notice that if you want to buy directly from one of the sell orders, you can just select it to fill the fields automatically. If the total exceeds your funds a notification at the lower right corner “Insufficient funds” will appear.
Your order will appear in the order book. In this case, the bid is the highest at the moment and it will appear at the top of the buy orders. You can also choose to buy at a lower price. If the currency reaches your desired price, your order will be filled. If other traders are buying at our same price, the order book will show the total amount of the orders at that specific price. If a buy or sell order is put at the same price by more than one trader, the system will fill the orders chronologically. First come, first served.
A market order is created when the Coin/Token is bought/sold a current market price: it’s generally faster and simpler than Limit ones as it’s executed as soon as there are open orders from other traders. To create a Market buy order, you will only need to type the desired amount. The total will be calculated automatically and the price will be the market’s one. When creating a Market order, always check the current price before confirming.
To check your order status, you can look at “My open orders” to see all the details and the filled percentage. Select the cancel button to delete your opened order. Please notice that if your order is executed it will move to “my last trades” and you won’t be able to cancel it anymore as the order is finalised. You can however cancel a partially filled order if you want.
You can also look at the list of your orders in the “Orders” page by selecting it from the top menu. In this page you find more options including date interval, pair choose, order type (buy or sell). You can also export to CSV file your orders list or delete them all by clicking the red “cancel all orders” button.
In case you want to withdraw some of your funds from Nexex Exchange, click “Wallets” in the top menu, then choose the desired coin and click “Withdraw”. A menu will appear and you will need to choose a withdraw address. If you haven’t done it yet, you will need to whitelist an address in order to withdraw your coins. A whitelist address means that you will withdraw your funds to an authorized address, this is done in order to protect your account in case of unauthorized access. Click the + button and you will be redirected to the Whitelist page.
To create a whitelisted address, simply choose the desired currency, type a name (“test” in this example) and the address, then click the green “Add” button. Please notice that, for example, if you put another coin’s address in the Bitcoin address whitelist, you will receive an error message.
Once you have at least one whitelisted address for your desired currency, you can withdraw your coins. Simply type the desired amount (fees and total are calculated automatically), then click the green “Submit” button.
The withdraw will show inside the “Transactions” page.
Congratulations! Now you are ready to trade on Nexex.