Your first tradeYour First Trade
Start on the demo account and work through your first TradFi contract trade on Mullet step by step.
We suggest starting on the demo account to walk through the whole flow — prices, depth and order logic are identical to mainnet, the only difference being that the funds are virtual. Switch to live once you're comfortable.
Switch to the demo account first
After signing up you already have a demo account loaded with 10,000 USDT of virtual funds. Select "Demo" in the account switcher at the top of the app; profits and losses there never touch real money.
Demo and live share the same execution, market data and risk-control logic, so practice on demo means no panic on live.
Six steps to place an order
Pick an instrument
Tap any instrument in the market list (for example BTC/USD) to open its trading page.
Choose a direction
Tap "Buy / Long" if you're bullish, "Sell / Short" if you're bearish.
Set leverage
Choose leverage up to the instrument's cap (crypto goes up to 20×, for example). Higher leverage means less margin tied up and more risk.
Enter a size
You can size by lots, contract quantity or contract value. The system shows the margin required and the estimated liquidation price in real time.
Set take-profit / stop-loss (optional)
Preset TP/SL as on-chain resting orders that trigger automatically — no need to watch the screen.
Confirm the position
Check the direction, size, margin and estimated liquidation price, then confirm. The position appears in your "Positions" list.
What to watch once you're in
| Field | Meaning |
|---|---|
| Unrealised P&L | Floating profit or loss of the current price against your entry |
| Margin ratio | Account equity ÷ margin in use — the lower it gets, the closer you are to liquidation |
| Est. liquidation price | Touching this price force-closes the position |
| Inventory fee | A holding fee settled once a day at a fixed time (00:00 Beijing time) — see inventory fee |
Liquidation risk: when the margin ratio falls below the maintenance margin requirement, the position is force-closed. Keep an eye on the margin ratio and add margin or reduce size when needed. See leverage and margin.
Closing out
Tap "Close" in the "Positions" list to exit at market, or place a limit order and wait for your target price. Once closed, the P&L settles back into your account balance.
When you're ready, download the app, switch to live and make your first real trade.