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What Is Cooling-off Period Function and How to Use It

2021-06-01 03:56
In our continuous effort to encourage responsible trading, Binance has launched the Cooling-off Period function for you to disable Futures trading temporarily to prevent compulsive trading behavior.

How to activate the Cooling-off Period function?

1. Log in to your Binance account and go to the Futures trading interface. Click [Trading Rules].
2. Click [Cooling-off Period].
3. Read the feature description carefully. Click to toggle on the [Disable Futures related trading functions] button. Next, choose the duration of your cooling-off period and click [Confirm] to activate.

Notes:
  1. Once the Cooling-Off Period function is enabled, you will not be able to trade USDⓈ-M and COIN-M Futures, Grid trading, Options, and Futures Battle via Binance website, App, Desktop, and API.
  2. You can select various durations for the cooling-off period from one day, one week, and one month. All of which are referenced based on your local time. By default, the one-day option is selected. In this case, the cooling period will start when the feature is enabled until 23:59:59 (local time) on the same day. For the one-week duration, the cooling-off period will be effective when the feature is enabled until 23:59:59 (local time) on D+7. For the one-month duration, the cooling-off period will be effective when the feature is enabled until 23:59:59 (local time) on M+1.
  3. Please do not enable this feature when you have open positions or pending orders.
  4. Once the cooling-off period is enabled, it cannot be lifted. All trading features and confirmation buttons will be disabled. Please wait until the cooling-off period ends.