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How to Upgrade Your Binance Futures Account to Binance Credits Mode (BNFCR) for EEA Users
How to Upgrade Your Binance Futures Account to Binance Credits Mode (BNFCR) for EEA Users
Hadar Cornix avatar
Written by Hadar Cornix
Updated over a week ago

Binance Futures traders in the European Economic Area (EEA) must switch to using Binance Credits (BNFCR) for trading. This mode runs with Cross Margin and Multi-Asset Mode only. Read more about the new regulation.

How to Set Your BNFCR Account for Trading?

Step 1 - Upgrade Your Account to BNFCR

If your account is affected by the regulatory changes, when you enter the Futures Trading page, Binance will show a pop-up window, asking you to upgrade your account to BNFCR (Binance Futures Credit Trading Mode).
Click 'Confirm' to complete the upgrade.

If the pop-up window has already been closed, you can also enable this by clicking the banner on the top of the trading page.
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Make Sure Your Account is Set to 'Classic Mode'

If your account is set to Portfolio Margin Mode, you'll have to switch to Classic Mode first, then follow the below steps to complete the upgrade.

Note: Under Binance Futures Credits Trading Mode, only BTC, ETH, and BNB can be used currently to transfer between Futures Wallets and other wallets. BNFCR cannot be withdrawn, but can be converted to BTC, ETH, or BNB at market value. Once your assets are converted, you will be able to transfer them from your Futures Wallet to your Spot Wallet and then make withdrawals as usual.

For more details about the steps to set your Binance account, visit this Binance Article. Make sure to visit 'Website' page, to see the steps.

Step 2 - Set Your Cornix Trading Configuration to Cross Margin

As this mode supports cross margin only, make sure to set your Trading Bots (Signals Bots/ DCA/ Trading View Bots/ Grid Bots) margin configuration to cross leverage.

That's it

Your BNFCR account is ready to start trading again!

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