Frequently Asked Questions
You are free to change your password, but may not change the e-mail address associated with your account.
Authentication to the Light.CX is handled by a separate, sealed system. We have no way to access your account information or password. You will have to follow the password reset procedures in that system.
A broker represents a trader, and can send orders on his behalf. With Light.CX, we do not use brokers. Customers submit trades directly to our exchange.
A market maker agrees to provide liquidity to an exchange by providing a large number of quotes. This helps traders fill their orders. If you are interested in market making on Light.CX, please contact us.
Funding and Withdrawing
All client funds are held in a segregated cold storage. We have no hot wallets.
USDT is a globally recognized cryptocurrency. You can purchase it directly, or trade other currencies for it at most major cryptocurrency exchanges.
Currently, Light.CX only accepts USDT cyrptocurrency.
All client funds are kept offline, in a cold wallet. Withdrawals are processed once per day. After you login, look for the $ icon in the left-drawer footer. Click that icon and select withdraw.
As the exchange, Light.CX provides an order matching service. Your trade is matched to one or more other market participants. The identity of all parties is strictly confidential. Our profit only comes from the published trading fee, so our sole focus is to ensure fair and accurate order matching.
We collect live streaming trades from several exchanges around the world. Every six seconds, we calculate our official price from these trades. For each exchange we remove outliers and calculate the average of the remaining trades. We then remove outlier exchanges and calculate the average across the remaining exchanges.
If you are correct about the market price, you will receive the full payout value of the contract. Your profit is the payout minus the collateral you contributed. i.e. If the payout is 100 USDT, and you contributed 45 USDT, then your net profit is 55 USDT.
Your loss is either zero, or the exact amount of your collateral.
The settlement value is the amount paid to the winning party upon option expiration. As these are binary options, the settlement amount is either the full value or zero.
When an investor places an order to buy or sell an optoin, there are two fundamental execution options: place the order “at the market” or “at the limit.” market orders are transactions meant to execute as quickly as possible at the present or market price. Conversely, a limit order sets the maximum or minimum price at which you are willing to buy or sell.
The term bid and ask (also known as bid and offer) refers to a two-way price quotation that indicates the best potential price at which an option can be sold and bought at a given point in time. The bid price represents the maximum price that a buyer is willing to pay for a share of stock or other security. The ask price represents the minimum price that a seller is willing to take for that same security. A trade or transaction occurs after the buyer and seller agree on a price for the option which is no higher than the bid and no lower than the ask.
An order is a request that you have sent to the exchange. Your order may or may not be matched to a counter-party. You do not contribute collateral unless your order is matched. If there is no matching counter-party, your order will sit and wait. When the option expires, your order will expire as well. You are free to cancel any open order at any time before it is matched into a contract.
When your order is matched to another party, a contract is created. both sides are charged their respective collateral. When the option expires, the winning party receives the payout. You may not cancel a contract, as it is a binding agreement between the two parties.
Expiration is the time at which the option is settled. These are generally offered is standardized periods such as 5 minutes, 15 minutes, hourly, daily, weekly, etc.
The strike price is the price that you believe the market will go above or below at expiration. If you think the price will be above the strike price, you buy the option. If you believe it will be at or below the strike price, you sell the option. At the start of each option period, our system calculates a range of strike prices above and below the current market price. You are free to place order at any of those strike prices.
All Light.CX contracts have strictly limited risk. The maximum possible loss is displayed on the order ticket before entering a trade. When you enter a contract, we withdraw the required collateral from your account. You can never lose more than that collateral.
There is no minimum balance required. However, you will not be able to place orders or enter contracts for less than your account balance. We suggest a minimum balance of 100 USDT.
Our fee structure is incredibly simple:
- Deposits = 0% fee
- Withdrawals = 0% fee
- Account maintenance = 0% fee
- Submit order = 0% fee
- Enter contract = 0% fee
When a binary contract settles, we charge 1% of the payout to the winning party. There are no other fees of any kind.