Connecting an Exchange Account
Firedrake connects to exchange accounts directly via the official exchange API, using API keys. The platform does not have access to funds withdrawal and works strictly within the permissions defined by you when creating the keys.
Before starting, we recommend reviewing the instructions for creating API keys on the exchange: 👉 Creating API Keys
Security Recommendation
We strongly recommend creating API keys immediately at the moment of connecting the exchange account to Firedrake:
- Create the API Key and Secret Key on the exchange side.
- Immediately paste them into the account connection form in Firedrake.
- After that, do not save the keys anywhere else (in files, notes, password managers, etc.).
This approach reduces the risk of key leakage and increases the overall security of your account.
If you don't have an exchange account yet
If you do not yet have an account on the supported exchanges, you can register using the following links:
- Binance BInance registration
- Bybit Bybit registration
After registration and basic account setup, you can proceed to connect it in Firedrake.
Connecting an Exchange in Firedrake
To connect an exchange account:
- Go to the Linked Accounts section.
- Click the Add Account button.
- Fill in the following fields in the window that opens.
Connection Parameters
Account Name An arbitrary name for the account — needed only for your convenience. This is especially useful if you have multiple accounts or subaccounts connected.
Examples:
Binance Futures Sub Acc 1Bybit Main
Exchange Select the exchange. Only FUTURES (futures market) accounts can be connected.
Only futures accounts can be connected.
API Key / Secret Key Paste the API keys created on the exchange side.
Bot Limits (FUTURES only)
When connecting a FUTURES account, limits on the number of bots become available:
- Max Active Bots — total limit of active bots
- Max Active Bots LONG — limit of bots for long positions
- Max Active Bots SHORT — limit of bots for short positions
- Max Active Bots WEBHOOK — limit of bots launched via webhooks
To make these settings clear, the concept of bots in Firedrake is briefly explained below.
What is a bot in Firedrake and how does it work?
In Firedrake, a bot is the logic that "manages a trade" from the moment of entry to the full closing of the position.
An active bot is created every time:
- a strategy triggers,
- a webhook arrives,
- or the user manually opens a position.
The bot performs the following tasks:
- places the first order to enter the position;
- places take profit, stop loss, and a grid of safety orders according to the entry settings;
- monitors the triggering of safety orders and recalculates take profit after position averaging;
- re-places orders if they were accidentally deleted or cancelled;
- cancels remaining safety orders and stop loss if the position closed by take profit;
- calculates the trade result (PnL);
- sends notifications about trade closure.
Simply put, the bot completely accompanies the trade from entry to exit.
👉 One bot = one open position.
How bot limits work (example)
Suppose the following limits are set:
- Max Active Bots = 4
- Max Active Bots LONG = 2
- Max Active Bots SHORT = 2
- Max Active Bots WEBHOOK = 1
Scenario:
- A long strategy triggers for BTC → 1st long position opens.
- The same long strategy triggers for ETH → 2nd long position opens.
- A short strategy triggers for XRP → short position opens.
- Another long strategy triggers for DOGE → ❌ position will not open, as the long bot limit (2) has already been reached.
- A short strategy triggers for LUNA → short position opens (short limit not yet exceeded).
- A webhook signal arrives → ❌ new bot will not start, as the Max Active Bots = 4 limit has already been reached.
Thus, limits directly determine the maximum possible number of simultaneously open positions.
Important Recommendation for Beginners
Start with a small number of simultaneously working bots.
This is important for several reasons:
- all bots use the same account balance;
- during sharp market movements, multiple positions can go into drawdown simultaneously;
- when trading with leverage, the load on the balance increases significantly.
A classic mistake when trading futures is when:
- too many bots are launched,
- many positions are opened simultaneously,
- leverage is used,
- and the balance is insufficient to survive the general drawdown.
Result — forced position closures or liquidation.
👉 Gain experience gradually, increase limits consciously, and always evaluate what total drawdown your balance can withstand.
Finishing the Connection
After filling in all fields, click Save.
Right after saving, Firedrake checks the API keys on the exchange. Then it connects to the exchange and retrieves the account balance.
If the connection is successful:
- a Done! message will appear in the status,
- the account balance will be displayed.
If the connection failed, an error message explaining the reason will be shown in the Status & Info column.
If the exchange rejects your keys
If the exchange does not accept the keys, the account is still saved, but it is disabled — the platform cannot work with it using these keys. A window The exchange rejected your API keys opens immediately with the reason and instructions. The same reason stays in the Status & Info column.
| Reason in the window | What to do |
|---|---|
| The API key is invalid — it was deleted on the exchange or entered incorrectly | Paste the key again without errors or create a new one. |
| The secret key (Secret Key) is wrong — the exchange rejects the request signature | Most often only part of the secret was copied. Copy the secret in full right after creating the key; if you no longer have it, create a new key. |
| The key is bound to other IP addresses | Add the Firedrake IP addresses to the key's IP whitelist on the exchange, or create a new key with them. The list is in the Firedrake IP whitelist block of the account form and in Creating API Keys. |
| The API key has expired | Create a new key. On Bybit, link the key to the Firedrake IP addresses: a key without IP addresses expires in 3 months. |
| The API key format is invalid | Check that you pasted the API key itself, without extra characters. Spaces at the edges are removed automatically. |
| The key is invalid, lacks the required permissions, or is bound to another IP address | Check all three: the key is active, it has the required permissions, and the Firedrake IP addresses are in its whitelist. |
| The key is read-only | Create a key with read-write (trading) permissions. |
| The key has no futures trading permission | On Bybit, enable Contract → Orders and Contract → Positions for the key. On Binance, enable Enable Futures for the key — a Binance key without it is not accepted. |
| The key allows withdrawals | Firedrake does not accept keys with the withdrawal permission: if a key leaks, funds could be withdrawn with it. Create a new key: on Bybit leave Withdraw unselected, on Binance keep Enable Withdrawals disabled. |
To fix any of these, create a new API key (system-generated, read-write, with derivatives trading enabled and the Firedrake IP addresses in its whitelist), copy the key and the secret in full right away, and paste them into this account — see Replacing API keys. As soon as the new keys pass the check, the account is enabled automatically.
If the exchange cannot be reached at the moment of saving (for example, because of network problems), the account is saved as usual and the keys are checked later.
Replacing API keys
- In the Linked Accounts list, click the pencil icon (Edit) for the account.
- Paste both the new API Key and the new Secret Key. The keys are checked only when both fields are filled in.
- Click Save.
If the new keys pass the check and the account was disabled because of its keys, it is enabled again automatically. An account that you disabled yourself stays disabled until you enable it.
Enabling an account
Enabling an account with its switch also checks the keys on the exchange. If the exchange does not accept them, the account is disabled again and the same window with the reason appears.
The mobile interface (Home → Linked Accounts) works the same way: the keys are checked after saving and when enabling an account, and the reason is shown in a panel with a Got it button.
If your keys stop working
A key can stop working after it has been connected: it was deleted on the exchange, it expired, or its permissions or IP addresses were changed. If the exchange keeps rejecting the keys, Firedrake disables the account automatically. Short network problems or exchange outages do not disable an account.
When this happens:
- bots and strategies on this account stop trading;
- the reason is shown in the Status & Info column;
- if Telegram is connected to your profile, the Firedrake | Notifications bot sends a message that the account has been disabled, with the reason. This message arrives regardless of your Telegram Notifications settings, in the interface language of your profile.
To fix it, create a new API key on the exchange and replace the keys in the account. The account is enabled again as soon as the new keys pass the check.
Rebate Status (Firedrake Commission Discount Status)
Rebate Status shows whether the Firedrake commission discount applies to your account:
- ✅ — account receives a 50% discount on Firedrake commission
- ⚠️ — account potentially qualifies but is not yet confirmed (start trading and check the status 24 hours after the first trades)
- 🚫 — discount does not apply to this account
How to get the discount
- Connect the account directly to Firedrake via API.
- Bybit: you can connect the main account or a subaccount.
- Binance: you must connect a subaccount created after 01.05.2025. Main accounts do not participate in the rebate program.
- Accounts connected via brokers or intermediaries do not receive the discount.
Briefly on API Key Security
When creating API keys, always follow these rules:
- enable only read/write trading permissions;
- never enable permissions for withdrawals or transfers;
- strictly add the IP whitelist of Firedrake servers;
- never share the API Key and Secret Key with anyone;
- Firedrake support will never ask you to show keys or create them during screen sharing.
Trading on exchanges is always associated with risks. You are fully responsible for the security of your accounts, API keys, and funds.