Suppose you are looking for a highly liquid DeFi trading platform that allows you to speculate anytime you want. In that case, there is a growing list of financial assets to trade on Level01, starting with Forex, Cryptoassets, and Commodities. For today, we show you how to trade Forex on the Level01 app. Forex is the biggest of all derivative market in the world.


Before we begin trading

You will need to set up your Level01 app. It is easy to set up and will only take a few minutes:


A brief overview on Forex Derivatives

A Forex derivative derives its value from the fluctuations in the currency exchange rates of two or more currencies. You can use these financial instruments for hedging foreign exchange risk and currency speculation. These derivative contracts are settled when they expire on set dates and times. Level01 allows trading of derivatives contracts, and settlement is via the Ethereum blockchain.

The major currencies traded on Level01 are AUD/USD, EUR/CHF, EUR/JPY, EUR/USD, GBP/JPY, GBP/USD, NZD/USD, USD/CAD, USD/CHF, and USD/JPY.

To check on the current LVX/USDT price, click here.


How to trade Forex using the Level01 app

  1. Enter the app and click on Markets via the main menu, then select Forex.

You can press the star icon to list your favorite currency pairs in the Favorites section.

  1. Select the currency pair of your choice. In this guide, we will use EUR/USD as an example.

You can view your chart by day, week, month, or year. In the real mode, you will be able to view many more new contracts below the chart.


  1. Study the chart to see if the market has been bullish or bearish, and then determine your trading strategy. Next, click on the new contract button. Here you can choose to set a short term or long term contract. In this example, we decided on a short-term play.

You can view your chart by day, week, month, or year. In the real mode, you will be able to view many more new contracts below the chart.


How to create a contract

A) Select your contract’s expiry time and date.

B) Decide on your strike price (and the position you want to take). You will notice that as you choose different strike prices, the winning or losing percentages change in the projected profit calculation section. In this example, we need to invest roughly 73.63% to make to win 35.82% profit at a strike price of 1.16300.

C) Determine your tradeline. You can choose to trade using LVX or ETH. The minimum required amount to trade is 100 LVX. In this example, we have set it to 500 LVX.

D) The last section where Fairsense is located allows you to attract other traders with an incentive to match your contract by enabling you to offer a premium or a discount on the contract. In this example, we chose to leave it blank.

E) Click on Create Contract. You can create as many contracts as you want.


  1. At the main menu click on the document icon on the top right-hand corner to view your contracts. You will notice three sections under My Contracts – Created, Matched, and Settled. In our example below, we have created several contracts. You will see the newly created EUR/USD contract on this list.

Note the newly created EUR/USD on this list of contracts.Now, we have to wait for our contract to be matched with another trader. If you happen to change your mind, you can choose to cancel your contract by sliding left on the contract and pressing the cancel button.


  1. If your contract offer is accepted, you will see it under the Matched Section.

Click on Matched, under My Contracts.


  1. At the designated time of settlement, check the Settled section to see if you have won or lost.

Wins or losses are reflected in your wallet.

Refining your trading skills

Whether you are a beginner or a seasoned trader, you should develop and stick to strategies that work for you. Level01’s AI-Guided Derivative Trading app gives you an extra edge with FairSense AI risk and reward projections and quick trade executions with smart contract settlements. It removes the need for a middleman by making it easier for traders to connect and trade directly, safely. You can also use the demo mode on Level01 to refine your trading skills and explore the tools that will help you build your knowledge, formulate your trading strategies, and Forex trading skills.

And finally, there is a trading contest happening now till 31st December 2020. In this contest, you trade with your demo account to win actual LVX tokens in your real account. Winners stand to win 10,000 LVX – 20,000 LVX in their wallets. Click here for contest details.


Try the World’s 1st DeFi Platform with AI-Guided Derivatives Trading APP: Level01 APP

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