Step 1 Suitability Assessment
What is the suitability assessment and why do I need to take it?
The suitability assessment helps us determine whether trading futures is appropriate for you based on your financial experience, knowledge, and risk profile. This is a regulatory and risk-management requirement, designed to protect users from engaging in high-risk trading without understanding the implications.
How long does the assessment take to complete?
The assessment takes approximately 3–5 minutes to complete. It consists of a short series of multiple-choice questions.
What kind of questions will I be asked?
You’ll be asked about:
Your trading experience (e.g., have you traded futures or leveraged products before?)
Your understanding of financial instruments and the associated risks
Your financial situation and ability to bear losses etc.
What happens if I fail to meet the criteria of the assessment?
If you do not meet the criteria for suitability, you will not be granted access to our futures trading platform. This is to ensure that only users with sufficient knowledge and risk tolerance can engage in futures trading.
Can I apply again?
Should you feel that you meet the criteria in the future, please reach out to our customer service team at support@btse-gi.com
Step 2 Futures Trading Questionnaire
Upon successfully meeting the suitability criteria, you will be asked to take the futures trading questionnaire.
What is the purpose of the Futures Trading Questionnaire?
The questionnaire is designed to verify that you have a sufficient understanding of how futures contracts work, including their risks, mechanics, and common terminology used. This ensures that you can make informed decisions when trading complex instruments.
How many questions are in the questionnaire?
The number of questions may vary, but typically you'll be asked a series of randomly selected multiple-choice questions to test your knowledge across key topics.
How much time do I have to answer each question?
You will have 120 seconds (2 minutes) to answer each question. The timer will start as soon as the question is displayed.
What happens if I run out of time on a question?
If you don’t answer a question within the allotted time limit, it will be automatically marked as incorrect, and the test will reset, taking you back to the beginning.
What happens if I fail the questionnaire?
If you fail (either by providing incorrect answers or timing out), you will have to start the test from the beginning again. There is no penalty for failing.
Can I retake the questionnaire if I fail?
Yes. You can retake the test as many times as needed until you pass. There is no cap on the number of attempts.
Are the questions always the same?
No. The test draws from a randomized pool of questions, so each attempt may differ slightly. This helps ensure fair and accurate evaluation of your knowledge.
Can I pause the questionnaire or come back to it later?
No. Once the test begins, you must complete it in one session. Each question has a live timer, and leaving the page or closing your browser may cause you to fail due to timeout.
Preparation Guide for Knowledge Questionnaire
This guide helps you understand the key concepts that may appear in the test so you feel confident and prepared.
What Is Futures Trading?
Futures contracts are agreements to buy or sell an asset at a predetermined price at a specified time in the future. On BTSE, you can trade futures on various crypto assets with leverage, allowing you to take larger positions than your account balance alone would allow.
What Makes Futures High Risk?
Leverage can multiply both your gains and your losses.
Liquidation can occur if your margin balance falls below the maintenance level.
Futures prices may differ from spot prices (due to market expectations or funding rates).
Topics You Should Understand
Leverage and Margin
Initial margin: the amount required to open a position.
Maintenance margin: the minimum margin needed to keep the position open.
Leverage: BTSE allows you to trade with leverage (e.g., 10x means $1,000 controls $10,000).
Higher leverage = higher risk.
Liquidation
When your margin falls below required levels, your position may be automatically closed.
A partial or full liquidation can occur depending on the position and margin available.
Avoid liquidation by managing leverage and setting stop losses.
Mark Price vs. Last Price
Mark price: fair price used for liquidation and margin purposes.
Last price: the most recent traded price on the exchange.
Liquidations are triggered by the mark price, not the last trade price.
Order Types
Market Order: executes immediately at the best available price.
Limit Order: executes at your specified price or better.
Stop-Loss Order: automatically closes a position at a set trigger price to limit losses.
Funding Rate
In perpetual futures, funding rates are periodic payments between long and short positions.
The rate aligns the futures price with the spot price.
Account Risk Management
Never trade more than you can afford to lose.
Use stop losses and position sizing.
Monitor your margin levels regularly.
