On the forced order closure – Help Center

1.Forced order closure system warning

Venkate platform monitors the change of assets in all loan accounts, calculates the risk rate of each asset change and order. When the risk rate of the user's loan account reaches 102.1%, the user's account triggers early warning and Venkate platform will send SMS and email reminders.

2.Loan account forced order closure

When the risk rate of the user's loan account reaches 101.6%, the user's Venkate account triggers a position forced order closure and the platform will notify the user according to the user's registered contact information.

3.Forced closure order

When the risk rate is lower than 101.6%, Venkate platform will restrict the user's transaction and cancel the current entrusted order, and the system will open the warehouse list under the open warehouse procedure until the loan assets and the outstanding interest are returned. The risk rate of the account is in a risk-free state after the exposure. If there is any remaining asset, it can be transferred out of the account.

4. In case you've opened leverage trading on this website, and the margin rate is less than or equal to 30%, your position will trigger forced closing. The system will buy or sell your assets according to the real-time entrusted order price on this website to repay the loan applied. If the price fluctuates violently and the system cannot close the position, resulting in financial loss of the platform, this website has the right to recover the loss from you.

5. This website currently permits loan at a maximum of 19 times of your personal net asset, the loan total shall not exceed the maximum amount set by the system of this website.

6. The service charge is calculated from the time you apply for the leverage on this website. 24 hours or less is counted as one day, exceeding 24 hours is counted as two days. The daily charge equals to the amount you apply multiplied by the daily rate.

7. In order to protect the safety of funds, when you have applied leverage and have not repaid, your withdrawable assets on this website = total assets - 2* leverage upper limit (including handling fees).

8. Both the application for a loan and repayment will be treated as transactions, the leverage transaction fee will be deducted from your funds to this website.