This is a guide to passing the mandatory Binance Futures Quiz, which must be completed before starting futures trading. This test is a required step to verify that the user understands all the risks associated with trading derivatives.
When you first open a futures account on Binance, about 14 questions with answer options will appear. To start trading, you must answer all questions correctly. If you make a mistake, the system will show the correct answer, and you can select it again.
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Why does this test appear?
Futures trading is much riskier than spot trading, as it uses leverage. Binance introduced this test so that users do not lose funds due to a lack of understanding of key concepts such as 'liquidation' or 'funding rate.'
Key concepts of the test (Hints for answers
Maximum loss amount: The maximum loss in futures trading is the entire margin amount in your wallet. (The balance can become zero).
Forced liquidation (Liquidation): If the margin balance falls below the maintenance margin level, your position will be forcibly closed.
Leverage risks: The higher the leverage, the higher the potential profit, but the risk of liquidation even with slight price changes increases significantly.
Funding Rate: This is the payment between holders of long (Long) and short (Short) positions every 8 hours to bring the futures price closer to the spot market price.
Cross (Cross) vs Isolated (Isolated) margin:
Cross: Uses the entire wallet balance as collateral, which lowers the liquidation price.
Isolated: Loss is limited to the amount allocated for a specific trade.
Tips for passing
Read the questions carefully and choose answers that warn about risks.
If you choose the wrong option, the system will highlight it in red and show the correct answer in green.
Just mark the correct option and click 'Submit' — you will immediately pass the test