I. What Is a TradFi Position Voucher?
A TradFi position voucher is a platform-issued voucher that allows you to open a free position in the TradFi contract markets, with its value provided as a position bonus. After using a position voucher, the system will open a position at market price with predefined parameters, including the trading instrument, leverage, and position value. You can manage this position as you would a regular position, including closing it or setting take-profit and stop-loss orders. It enables you to experience TradFi trading at zero cost , with potential losses covered by the platform.
Key Features
| Feature | Description |
|---|---|
| Zero-Cost Experience | The margin is provided by the platform. |
| Loss Coverage by the Platform | You keep all profits, while losses are covered by the position bonus. The position bonus can only cover losses up to its value; any excess loss will not be covered. |
| Fee Coverage | The position bonus can be used to cover entry fees, swap fees, and losses from closing positions, up to the bonus amount. |
| Automatic Settlement on Expiry | Upon expiry, the system will automatically close the position at market price and reclaim the position bonus. |
Usage Restrictions
- One Position per Market : For the same underlying (e.g., XAU), you can hold only one free position regardless of leverage.
- Multiple Markets Supported : You may use vouchers to open positions across different markets (e.g., XAU, S&P 500).
- Non-Transferable : The position bonus is for trading purposes only and cannot be transferred out to other accounts.
II. How to Use a Position Voucher (Web)
View Your Position Vouchers
Step 1: Go to [Vouchers] - [TradFi Position Voucher] to view your available vouchers. Click [Use Now] to go to the TradFi trading page, and a position opening pop-up will appear.
Step 2: On the TradFi trading page, a quick entry for position vouchers is also available below the [Assets] section in the bottom-right corner, displaying up to 3 vouchers. To view all vouchers, click [View More] to go to [Vouchers].
Use a Position Voucher
Step 1: Please ensure that you have opened a TradFi account and do not have an existing free position in the selected market before using a voucher. If you have not opened a TradFi account, you will be prompted to do so when clicking [Use Now]. If you already have a free position in the selected market, you must close it before using a voucher.
Step 2: After clicking [Use Now], select the position side (long or short) in the pop-up window. Orders will be placed at market price, and the order size will be calculated by the system based on the position bonus and leverage. The actual filled size shall prevail .
Step 3: Once all conditions are met, click [Confirm] to open a free position. The position will be opened using a market order and the position value will be as close as possible to the bonus amount. Any unused bonus amount will be reclaimed immediately.
Step 4: After successfully using the position voucher, a free position will be created. You can identify it with the [Free Position] tag and the countdown displayed in the position.
Step 5: Free positions support most of the same operations as regular positions, including setting take-profit and stop-loss orders and closing positions.
III. How to Use a Position Voucher (App)
View Your Position Vouchers
Step 1: Go to [Vouchers] - [Position Voucher] to view your available vouchers. A position opening pop-up will appear after tapping [Try Now].
Step 2: A quick entry for position vouchers is also available in [More] - [Vouchers] on the TradFi trading page.
Use a Position Voucher
Step 1: Please ensure that you have opened a TradFi account and do not have an existing free position in the selected market before using a voucher.
Step 2: After tapping [Try Now], select the position side (long or short) in the pop-up window. Order size will be calculated by the system based on the position bonus amount and leverage. The actual filled size shall prevail .
Step 3: Once all conditions are met, tap [Confirm] to open a free position.
Step 4: After successfully using the position voucher, a free position will be created. You can identify it with the [Free Position] tag and the countdown displayed in the position.
Step 5: Free positions support most of the same operations as regular positions, including setting take-profit and stop-loss orders and closing positions.
IV. Trading Rules and Coverage Instructions
Trading Rules
- Position vouchers can only be used to open positions at market price in the specified TradFi contract market, using the leverage defined by the voucher.
- Only one free position is allowed per market, but you may hold free positions in multiple markets at the same time.
- Upon expiry, the system will automatically close the position at market price and reclaim the position bonus.
- The countdown is based on trading days and excludes market closure days. If the expiry falls on a holiday with early market closure, the system will close the position before the market closes on that day. Please refer to the Announcements for details on holiday trading hours.
- The system will send a direct message 1 hour before expiry. Please manage your position in time.
Coverage Instructions
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At Position Opening : The position bonus can be used to cover entry fees. Any unused portion after opening the position will be reclaimed immediately.
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At Position Closing : The position bonus will first be used to cover losses (including entry fees, PnL from position reductions, and swap fees). Any unused amount will be reclaimed. Profits, if any, will be automatically credited to your account.
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The position bonus can only cover losses up to its value . For example, if the position bonus is 10 USDT and your loss is 50 USDT, only 10 USDT will be covered, and the remaining 40 USDT will be your responsibility.
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The position bonus can only be used once when opening a free position. If it is not reclaimed in time after the position is closed, the system will automatically process the reclaim, and multiple reclaim records may appear in some cases.
V. Notes
When using a TradFi position voucher, please note the following:
- Prerequisites: A TradFi account must be opened; no existing free position is allowed in the same market; and the market must be open (vouchers cannot be used during market closure).
- Trading Restrictions : Leverage and position size of free positions cannot be modified. Position bonus cannot be transferred out.
- Market Volatility : Positions are opened at market price, and the actual filled size shall prevail. Under extreme market conditions, order placement may fail. Please follow system prompts and try again later.
- Position Closing and Loss Coverage : Losses at closing are covered by the position bonus, up to its value . Any excess loss will be borne by the user. Profits will be credited to your account.
- Validity Period : Position vouchers are subject to an expiration period. The free position created by the voucher will have a closing countdown. Once the countdown ends, the system will automatically close the position and reclaim the position bonus.
VI. FAQ
Can position vouchers be transferred?
Position vouchers are account-specific and cannot be transferred.
Why can't I use a position voucher?
Please check the following:
- Whether you have opened a TradFi account;
- Whether you already hold a free position in the selected market (it must be closed first);
- Whether the market is open (vouchers cannot be used during market closure).
What happens when a free position expires?
The system will automatically close the position at market price upon expiry and reclaim the position bonus. Profits, if any, will be credited to your account, while losses will be covered by the position bonus (up to its value) . Any excess loss will be borne by the user.
Can I hold multiple free positions at the same time?
Yes. You can hold free positions in different markets, but only one free position is allowed per market . For example, you may hold positions in both XAUUSD and XAGUSD markets at the same time.
Can the position bonus be transferred out?
No. The position bonus is for trading purposes only and cannot be transferred out.
What should I do if I receive the "The market is highly volatile. Please try again later" message?
Under extreme market conditions, fluctuations may affect the available position size. Please wait a moment and try [Open Position] again.
Why is the position value different from the position bonus after opening a position?
- Part of the voucher is used to cover entry fees.
- Market fluctuations may prevent the full position bonus from being used; the actual filled size shall prevail. Any unused portion will be immediately reclaimed.
How can I check trading hours if the system says the market is closed?
You can view detailed trading hours for each market in the Contract Details on the candlestick chart page.
What happens to free positions during early market closures on holidays?
During holidays, some TradFi contracts may close early. Please refer to the Announcements for official schedules. If a free position expires during an early market close, the system will close the position before the market closes on that day.
Why was my free position closed automatically?
Free positions are subject to a time limit. Once the countdown ends, the system will automatically close the position and reclaim the position bonus. You will receive a direct message 1 hour before expiry.
Why are there multiple reclaim records in my transaction history?
When using a position voucher, its face value is provided as a position bonus, which can only be used once to open a free position. The system settles losses at closing and reclaims any unused portion. Multiple reclaim records may appear in the following cases:
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Any unused position bonus at the position opening is reclaimed immediately.
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If the position is profitable, the position bonus is not used to cover losses and will be reclaimed.
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If the position bonus is not reclaimed in time after closing a position, the system will automatically process the reclaim, which may result in multiple records.
Disclaimer
The content provided herein is for reference and educational purposes only and does not constitute any financial, investment, trading, or legal advice, nor does it constitute an offer or solicitation to buy or sell any digital assets. Gate makes no express or implied representations or warranties regarding the accuracy, completeness, or timeliness of the information contained herein. Product features, interfaces, rules, and fee structures may be updated or adjusted at any time. Please refer to the latest announcements and the actual information displayed on the Gate platform for the most accurate details.
Digital asset investments involve significant risk, and prices may fluctuate substantially. You may lose the entire amount of your investment. Please make decisions cautiously based on your own financial situation and risk tolerance after fully understanding the associated risks. If necessary, you are advised to consult an independent professional financial or legal advisor.
For more information about potential risks, please refer to Gate's Risk Disclosure and User Agreement.
