Pre-Market Trading Guide
1. How to Conduct Pre-Market Trading?
1.1 As a Buyer
Create an Order: Select the token you wish to purchase, enter the order quantity and price, then submit your buy order.
Order Matching: Wait for your order to be matched with a counterparty as a taker order. Once matched, wait until the delivery time to receive your tokens. If your order is executed as a Taker and the counterparty's price is lower than your order price, a portion of your collateral will be unfrozen in proportion to the price difference.
Order Settlement: During settlement, you will receive tokens from your counterparty. If they fail to deliver, the platform will refund your full order amount and provide compensation from the counterparty's collateral based on their filled order percentage. If the buyer places a Maker order at an unfavorable price (sell low or buy high), the compensation is calculated based on the seller's original price. This means buyers may receive compensation that is lower than their own collateral in this scenario.
1.2 As a Seller
Create an Order: Select the token you wish to sell, enter the order quantity and price, then submit your sell order.
Order Matching: Wait for your order to be matched with a counterparty. Once matched, ensure you have the corresponding tokens ready before the settlement time.
Order Settlement: Make sure your Spot account has sufficient tokens to complete delivery when the delivery time arrives. Otherwise, your collateral will be forfeited.
2. How to Complete Settlement
2.1 As a Buyer
When placing an order, the buyer's collateral and fees are frozen. After the order is filled, wait for the settlement time.
If the seller fulfills their obligation, the buyer receives the corresponding amount of tokens, with collateral and fees deducted during settlement.
If the seller defaults, the buyer's collateral is unfrozen, and the buyer receives the seller's collateral as compensation. This is calculated as the seller's order price multiplied by quantity and collateral rate, while trading fees are still deducted.
2.2 As a Seller
When placing an order, the seller's collateral and fees are frozen. During the settlement period, ensure your Spot account holds the sufficient token amount to fulfill your delivery obligation.
Upon successful token settlement, the seller's tokens are transferred to the buyer's account, and the seller receives payment in their Spot account. The collateral is unfrozen and returned, with trading fees deducted.
If token delivery fails, all of the seller's collateral is forfeited. A portion may be collected by the platform as a service fee, with the remainder given to the counterparty as compensation. Currently, MEXC does not charge any fees, and the entire collateral goes to the buyer as compensation.
Trading fees are still charged even in cases of failed delivery. MEXC only refunds fees when orders remain unfilled or when a project's listing is canceled.