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First Forex Trade

Open and close an on-chain Forex position on HyperFX.

Before you start​

  • Your wallet is connected to BNB Smart Chain (Connect Your Wallet)
  • You have USDT or USDC in your wallet to use as collateral
  • You understand that leveraged Forex carries significant risk

Steps​

  1. Open the dApp β€” go to dapp.hyperfx.io and navigate to Forex

  2. Choose a trading pair β€” for example EUR/USD, GBP/USD, or XAU/USD (Gold)

  3. Select a direction:

    • Long β€” you expect the price to rise
    • Short β€” you expect the price to fall

  4. Enter your collateral β€” the amount of USDT/USDC you want to risk on this position

  5. Set leverage β€” start with the minimum available (e.g., 2×–5Γ—) while learning the interface

  6. Review before confirming:

    • Entry price β€” the price at which your position opens
    • Liquidation price β€” if the market reaches this level, your collateral is lost
    • Fees β€” opening and closing fees are shown before execution

  7. Click "Open Position" β€” confirm the transaction in your wallet

  8. Monitor your position in the Positions panel β€” you can see your unrealised P&L in real time

  9. To close: click Close next to your position and confirm the transaction

:::warning Important risk notice On-chain Forex trading is experimental technology. Prices are sourced from oracle networks, which can diverge briefly from centralised exchange prices during extreme volatility. Only trade with funds you can afford to lose entirely. :::

Tips for your first trade​

  • Use the smallest leverage available until you understand the liquidation mechanics
  • Close positions before major economic events (NFP, FOMC) unless you are intentionally trading the news
  • Keep enough BNB in your wallet for gas β€” each transaction costs a small fee

Next step β†’ Add Liquidity to contribute to the protocol and earn rewards.