The number of digital exchanges is growing rapidly in 2024. The market is full of options. New traders must consider key factors: features, trading pairs, security, support, and fees. They need to do this to evaluate the quality of the trading platform well.
BingX Exchange is popular in Europe. It is a safe, secure, and fast platform for trading derivatives. This BingX review will provide you with the latest, most accurate information in 2024.
I'm CEO David Wabinz, founder of DavidWabinz.com. I note that this is just a preview and not financial advice for you. It is essential to make an informed decision before investing in cryptocurrency exchanges.
What is BingX?
BingX is a trading platform for contracts for difference (CFD). It specializes in trading cryptocurrency. It works similarly to the futures market on Binance. BingX allows traders to trade many types of contracts. These include cryptocurrencies, indices, and forex pairs. They can trade them quickly, safely, and with low fees.
It was founded in Taiwan in 2018 with the original name Bingbon. Until now, BingX (its name from 2021) has become a top cryptocurrency trading platform. It lets traders use cryptocurrency derivatives contracts. BingX's main goal is to lead the industry. It wants to become the world's largest major cryptocurrency exchange.
Where is BingX available in 2024?
In 2024, BingX continues to expand. It is available in many countries across regions. But, its availability is influenced by local regulations and market conditions.
Key Regions Where BingX is Available in 2024
1. Asia:
- BingX is widely available in Asia. It's in Singapore, Malaysia, Vietnam, Indonesia, Thailand, and the Philippines. These regions have supportive regulatory frameworks and a growing base of cryptocurrency enthusiasts.
- BingX has adapted to local regulations. This has let it keep and grow its services in these countries.
2. Europe:
- BingX is in major European countries. These include Germany, France, the Netherlands, Spain, and the United Kingdom. Europe's progressive stance on cryptocurrency regulation provides a conducive environment for BingX's operations.
- BingX follows EU regulations. This allows it to operate in many member states.
3. Africa:
- BingX is available in key African countries. These include Nigeria, South Africa, and Kenya. The platform is expanding into Africa. This shows that cryptocurrencies are growing in popularity there.
- Market growth: Interest in digital assets is increasing. BingX is capitalizing on the demand for cryptocurrency trading in Africa.
4. Oceania:
- Australia and New Zealand: BingX serves users there. Regulatory frameworks in the two countries are favorable for cryptocurrency exchanges. These markets enjoy strong financial infrastructures and a high level of digital literacy.
5. Latin America:
- BingX is growing in Latin America. It's making big gains in Brazil, Argentina, and Mexico. The platform is tapping into the rising interest in cryptocurrencies in these countries.
Regions with Limited or No Access
Despite its wide global reach, there are some regions where BingX faces limits or restrictions:
1. United States:
- Regulatory challenges are complex and strict in the U.S. They pose challenges for BingX. As a result, BingX is often not available to U.S. residents.
- Licensing requirements are specific. They vary across states. They add complexity to operating in the U.S. market.
2. China:
- China has strict regulations and bans on cryptocurrency trading and exchanges. They greatly limit BingX’s use in mainland China.
3. Other Restricted Regions:
- Some countries have tight financial rules or bans on cryptocurrencies. They also limit access to BingX. Users need to verify local laws and exchange policies.
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BingX Review: Pros and Cons
As a cryptocurrency exchange, BingX will have certain advantages and disadvantages. Below is a review of the upsides and downsides of BingX in 2024. I made it after using this exchange for some time.
Pros of BingX
- BingX offers a valuable copy-trading feature. It lets beginners learn and copy the trades of experienced users. This can be a great learning tool. It could also raise profits for new traders.
- Affordable Trading Fees: The platform is known for its low trading fees, with a maximum fee of 0.2%. This makes it an attractive option for traders looking to minimize costs.
- BingX provides access to derivatives and leveraged margin markets. You can get leverage of up to 125x. This allows traders to increase their positions and returns. But, it also comes with higher risk.
- The exchange has 24/7 live chat support. It ensures that users can get help whenever they need it. This feature enhances the user experience.
Cons of BingX
- Lack of Fiat Currency Support: BingX does not support fiat currency trading. Users can only buy through third-party services. This can be inconvenient and might have extra fees.
- Little public info is available about how assets are stored. There is little on the security measures. This lack of transparency can be a concern for users who prioritize security.
- Restricted Crypto-to-Crypto Transactions: The platform only supports crypto-to-crypto transactions through USDT trading pairs. This limitation may restrict trading options for users who prefer other cryptocurrency pairs.
Conclusion
In 2024, BingX has many advantages for cryptocurrency traders. These include the copy-trading feature. They also have low trading fees, access to derivatives and leverage, and 24/7 support. However, the lack of support for fiat currency is a problem. There is also limited security information and restricted crypto-to-crypto transactions. These could be seen as big drawbacks. Users need to weigh these pros and cons to determine if BingX is the right platform for their trading needs.
Features of BingX
Instant Trading
BingX Exchange has launched several exciting updates in 2024. They aim to enhance its Instant Trading feature. The updates make it easier for users to quickly and efficiently convert cryptocurrencies. These updates show that BingX still focuses on user experience and convenience. They are making its position as a top cryptocurrency exchange stronger.
Key Features of BingX Instant Trading
1. One-Click Currency Conversion:
BingX's Instant Trading lets users convert one cryptocurrency to another. They can do it with one click. It removes the need for many steps or moving funds to a spot exchange.
The platform supports instant trading for major cryptocurrencies. These include BTC, ETH, USDC, and USDT. They provide a wide range of options for traders.
2. Unified Trading Platform:
Users can buy or sell various cryptocurrencies on a single platform. They can trade them against each other. This unified approach simplifies the trading process and enhances the user experience.
You cannot make external transfers with Instant Trading. It lets users trade without transferring funds externally. It ensures that all trading is secure within the BingX ecosystem.
3. User-Friendly Interface:
The updated interface is intuitive and easy to navigate. It is accessible for both beginners and experienced traders.
The platform provides real-time data. It also offers instant trade execution. This ensures that users can act on market opportunities as they arise.
4. Enhanced Security:
All transactions on BingX are secure. They use advanced security protocols to keep user assets and data safe.
BingX avoids external fund transfers. This minimizes the risks of moving funds between exchanges.
5. Fast and Efficient Trading:
Trades are executed instantly. This lets users quickly respond to market changes and make timely investment decisions.
The trades are instant. This reduces slippage. It ensures that users get the best prices for their transactions.
Benefits of BingX Instant Trading
Convenience is key. Users can convert cryptocurrencies instantly with one click. This saves time and effort, making trading more efficient.
Trading within the BingX platform boosts security. It cuts the risk of breaches and keeps user funds safe.
BingX supports many major cryptocurrencies. This offers flexibility for traders. They may want to diversify their portfolios or switch assets quickly.
Trades execute instantly. Users can capitalize on market movements right away. This improves their chances of maximizing profits.
How to Get Started
1. Sign Up: Create an account on BingX if you haven’t already. The registration process is quick and straightforward.
2. Deposit Funds: Deposit your preferred cryptocurrency into your BingX account.
3. Instant Trading: Go to the Instant Trading section. Select the cryptocurrencies you want to exchange and finish the transaction with one click.
Summary
BingX Exchange’s Instant Trading feature will launch in 2024. It offers a fast, safe, and easy way to trade cryptocurrencies. BingX has one-click conversions. It has a user-friendly interface and enhanced security. This ensures that traders can manage their assets efficiently and use market opportunities. You may be an experienced trader or new to cryptocurrency. BingX’s Instant Trading has the tools and features you need. They make trading easy for everyone. Sign up for a BingX account today. You'll see the future of instant cryptocurrency trading.
Derivatives Trading
BingX continues to innovate and expand its offerings. It provides a complete platform for trading derivatives and futures with high leverage. As of 2024, BingX has introduced many new updates and features. They improve the user experience and expand trading opportunities.
Key Features of BingX Derivatives Trading
1. Extensive Leverage Options:
BingX offers leverage of up to 125x. This lets traders maximize their potential investment returns. You can use this high leverage when trading various products. These include cryptocurrencies, indices, commodities, and Forex.
2. Diverse Trading Instruments:
Derivatives and Futures: Users can trade many types of assets, not just cryptocurrencies. These assets include indices, commodities, and Forex. They provide more chances to diversify and manage risk.
Perpetual Futures are unique to the crypto market. They allow users to hold positions without expiration. This enables continuous trading strategies.
3. Advanced Trading Features:
The Standard Derivatives Platform allows users to trade with leverage. It offers both long and short positions. Traders can utilize market or trigger orders (similar to limit orders) to optimize their trading strategies.
The Perpetual Futures Platform lets users place limit and market orders. They can choose between isolated and cross-margin options. They can take long or short positions based on market conditions.
4. User-Friendly Interface:
– Intuitive Layout: The platform is designed to be user-friendly, with a clean layout that makes it easy to navigate. Open positions and real-time profit and loss details are readily accessible.
The charts are detailed. They are integrated with TradingView. They have many tools for technical analysis. They let traders make informed decisions based on real-time data.
5. Risk Management Tools:
Margin Options: Users can choose isolated or cross-margin trading. They use these options to manage their risk. Isolated margin limits risk to one position. Cross-margin allows more flexibility across many positions.
– VST Demo Trading: For those looking to practice or test new strategies, BingX offers a VST (Virtual Simulation Trading) feature. This demo trading environment lets users trade with fake money. They can hone their skills without risk.
6. Broad Access and Flexibility:
BingX's platform supports trading in global markets. It gives users many chances to profit from market moves in different asset classes.
The platform provides real-time updates on market prices, open positions, and profit and loss. It ensures traders have the most current information.
Benefits of BingX Derivatives Trading
The platform offers up to 125x leverage and many trading instruments. This makes BingX great for both experienced traders and those diversifying their portfolios.
Advanced and User-Friendly Features: It has sophisticated trading tools. They and an easy interface make BingX both powerful and easy to use. This makes it practical for traders at all levels.
Comprehensive Risk Management has features like isolated and cross-margin options. It also has demo trading. These options help users manage risk well. They do this while they develop and refine trading strategies.
In summary, BingX's trading platform offers high leverage and many trading instruments. It also has advanced and user-friendly tools. This makes BingX a competitive choice. It is for traders who want to trade derivatives and futures. It has strong support and flexibility.
Grid Trading
Grid bots have surged in popularity among cryptocurrency traders in recent years. They excel at profiting from market volatility. BingX has seen this trend. They added a strong grid bot to their platform. This innovation lets users grid trade on the exchange. They can do so without third-party tools.
Key Features of BingX Grid Trading
1. User-Friendly Interface:
BingX has designed its grid bot to be accessible for traders of all experience levels. Users can easily set up their bot with simple settings. This makes it a good option for both beginners and seasoned traders.
2. Customizable Parameters:
– High and Low Price Settings: Traders can specify the range within which they want the bot to operate. This involves setting a high price and a low price for a particular cryptocurrency.
– Number of Grids: Users can choose the number of grids (from 2 to 200) that the bot will create within the specified price range. Each grid line represents a predefined buy or sell point.
BingX offers automatic and manual modes. In automatic mode, the bot is set up with a single click. In manual mode, users can adjust settings to match their trading strategy.
3. Automated Trading:
Once activated, the grid bot automatically places trades. It buys near the lower end of the set range and sells as the price increases, capturing profits incrementally. The bot places limited trades in advance. They are executed automatically, ensuring users do not miss trading opportunities.
4. Cost Efficiency:
The Grid Trading feature on BingX is available at no additional cost to users. This is a big advantage. Similar tools are often only on paid third-party platforms.
5. Visual Grid Display:
To improve the user experience, BingX should add a visual display of the grids to the trading chart. This would let traders see where buy and sell orders are placed. It would give more transparency and make monitoring easier.
6. Expansion of Bot Selection:
BingX could consider adding more bots. This will help them compete with the top crypto trading bot platforms. Offering a variety of bots with different strategies can cater to a wider range of trading preferences and objectives.
Benefits of BingX Grid Trading
BingX has simple settings and no extra fees. It makes advanced trading available to all users.
The bot can automate trades. This lets users profit from market movements without constant monitoring.
The bot is customizable. Both automatic and manual modes allow users to tailor its operations to their trading strategies.
In summary, BingX's grid bot is user-friendly, cheap, and customizable. It integrates seamlessly into the platform. This makes it a compelling choice for traders. They want to use automated grid trading without the complexity and costs of third-party solutions.
BingX Review Services
Trading Products
BingX Exchange continues to expand its offerings. It is also improving its trading platform. It provides a wide range of trading products and tools for its users. As of 2024, BingX has added many new updates. They aim to improve the trading experience.
Key Features of BingX Trading Products
1. Perpetual Contract Cryptocurrency Trading:
Traders can choose isolated or cross margins. These allow for flexible risk strategies.
The platform supports perpetual contracts for the top 7 cryptocurrencies. This ensures that traders have access to the most popular and liquid assets.
BingX offers inverse contracts for Bitcoin and Ethereum. They let traders use Bitcoin for BTC contracts and Ethereum for ETH contracts.
USDT-based contracts are available for Bitcoin and Ethereum. They are also to inverse contracts. They give further flexibility in margin management.
2. Crypto Derivatives Linked to Indices:
BingX provides crypto derivatives contracts linked to eight major indices. These include the S&P 500, Nikkei 225, NASDAQ-100, DJIA, and others. This allows traders to speculate on the performance of these indices using cryptocurrency.
3. Forex Market:
The platform features contracts for popular foreign exchange pairs. Traders can use them to trade forex using cryptocurrency. This includes major pairs like EUR/USD, GBP/USD, and others.
4. Commodities Trading:
Traders can speculate on the prices of key commodities. These include crude oil, silver, and gold. This addition lets users diversify their trading strategies. They can also hedge against market volatility.
5. USDT Settlement for Non-Crypto Contracts:
The universal settlement currency on BingX is USDT. All non-crypto contracts must use it. This method is stable and consistent. It makes trading simpler and lowers exchange rate risk.
Benefits of BingX Trading Products
BingX offers many trading products. These range from cryptocurrencies to indices, forex, and commodities. They cater to many strategies and preferences.
You can choose isolated or cross margins. This allows traders to manage their risk. They can tailor their approach to their risk tolerance.
Traders have access to top assets. These include cryptocurrencies, global indices, forex pairs, and commodities. BingX lets traders seize opportunities in many markets.
BingX uses USDT to settle non-crypto contracts. It ensures stability and consistency. This makes it easier for traders. They can manage their accounts and calculate their profits and losses.
Summary
BingX Exchange has significantly improved its trading platform in 2024. It offers a wide range of trading products that meet a variety of needs. BingX offers perpetual contracts for leading cryptocurrencies. It also has derivatives linked to major indices, a robust foreign exchange market, and commodity trading. This gives traders many opportunities to diversify and improve their strategies. This platform has flexible profits and stable payments. These features add to its appeal. They make BingX the top choice for traders. They help users have a flexible and user-friendly trading experience.
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⏩ Bonus: 5125 USDT + 25% discount fees
Leverage Limits
BingX Exchange has improved. It has expanded its leverage offerings in 2024. They are for traders with a range of options tailored to different trading products. These updates keep BingX competitive. They make it attractive to both new and experienced traders.
Updated Leverage Limits by Trading Product
1. Cryptocurrency Contracts:
Bitcoin (BTC) and USDT contracts now have leverage of up to 150x. This is much higher than the industry standard. This allows for greater potential returns on Bitcoin and USDT trades.
Ethereum (ETH) contracts can be leveraged up to 100x. They offer big leverage while managing risk.
Other crypto-based contracts have different leverage limits. These limits range from 35x to 50x, depending on the specific cryptocurrency. This includes a variety of altcoins, offering traders flexibility and choice.
2. Commodities Trading:
– Leverage Limit: For commodities such as crude oil, silver, and gold, BingX offers leverage up to 100x. This high leverage lets traders profit from price movements. The movements are in these key markets.
3. Indices Trading:
Contracts are linked to major indices, like S&P 500, Nikkei 225, NASDAQ-100, and DJIA. They also come with leverage up to 100x. This allows traders to engage in high-leverage trading strategies on significant global indices.
4. Forex Pairs:
BingX has very competitive Forex trading. The leverage limits are up to 300x. This is a big help for currency traders. It lets them greatly increase their positions.
Benefits of BingX’s Updated Leverage Limits
BingX offers up to 150x leverage on BTC and USDT contracts. This is one of the highest leverage limits on the market. It attracts traders seeking high-risk, high-reward opportunities.
Altcoins have balanced risk. The leverage limits for them are 35x to 50x. This balances high leverage with managing the risks of volatile assets.
BingX offers a Competitive Edge in Commodities and Indices. Traders can use 100x leverage for them. This lets traders maximize their exposure to these markets. They can do so without needing much capital.
BingX offers unmatched Forex leverage. It's 300x for forex pairs. This makes BingX a leader in forex trading. It provides unmatched opportunities for traders who specialize in currency markets.
Summary
BingX Exchange's leverage limits will be updated in 2024. This change reflects the exchange's commitment to providing competitive and flexible trading. It aims to do so across a variety of financial products. You can use up to 150x leverage on BTC and USDT contracts. For Ethereum as well as major indices and commodities, the limit is 100x. For forex pairs, the limit is an impressive 300 times. BingX serves many traders with these limitations. These improvements make BingX a great choice for traders looking to maximize profits.
Interface
BingX Exchange has improved its user interface. It now provides a smooth and easy trading experience. In 2024, many updates were added to improve use and function. They make the platform better for traders of all levels.
Key Features of the Updated BingX Interface
1. Simplified Asset Display:
The platform dashboard now shows a user's assets. It shows them in both BTC and USDT. This clear presentation lets users quickly see their portfolio value. They can do this without navigating through many sections.
2. Advanced TradingView Chart:
The chart in TradingView is fully customizable. Users can add comments and plot support and resistance levels. They can also use many technical analysis tools. This flexibility helps traders tailor their charts to their specific trading strategies.
The chart's interface has been improved for clarity and ease of use. It is now more attractive and user-friendly.
3. Comprehensive Dashboard:
Users can easily view their holdings and transactions. This allows for efficient portfolio management.
Fund Management: The interface includes quick access buttons for depositing and withdrawing funds. It makes financial management easy and hassle-free.
4. Order and Position Information:
– Open Orders and Positions: Information about open orders and positions is conveniently located below the price chart. This layout gives users a clear summary of their current trades. It does this without cluttering the main screen.
5. Intuitive Trading Pair Selector:
The trading pair selector is on the left side of the interface. It lets users quickly switch between trading pairs with little effort.
6. Order Placement Interface:
The order placement interface is on the right-hand side. It lets users place orders efficiently while watching the price chart and order book.
7. Fiat Payment Gateway:
The Buy Crypto Feature lets users buy BTC, ETH, or USDT. They buy them directly from the platform using the fiat payment gateway. Traders can use the “Buy Crypto” option. It lets them convert fiat to their desired cryptocurrencies.
8. Quick Access Search Function:
Search and Trade: The search bar helps users find cryptocurrencies fast. By clicking the “Trade” button, users can instantly access the trading platform for the selected asset. This simplifies the process of entering and exiting trades.
Benefits of the BingX Interface Updates
The new layout and features make the platform easier to use. They cater to both new and experienced traders.
The site has efficient navigation. Key elements like the trading pair selector and order placement interface are well placed. They make sure navigation is smooth and efficient.
The dashboard gives a full view of a user's assets, orders, and positions. It improves trading efficiency and decision-making.
The advanced TradingView chart customization options empower traders. They can use them to do detailed technical analysis. This supports more informed trading strategies.
Summary
The 2024 updates to the BingX Exchange interface significantly improve it. They add to its functionality, usability, and overall user experience. BingX has a simplified asset display. It has advanced, customizable TradingView charts and easy navigation. These tools put everything traders need at their fingertips. The new interface updates make BingX a top choice for cryptocurrency trading in 2024. It is good for managing holdings, placing orders, and doing technical analysis.
Copy Trading
In 2024, BingX Exchange improved its copy trading. It set a new standard in cryptocurrency trading. Copy trading has been linked to forex markets. It is now a key part of the BingX platform. It offers a safe and fast way for users to enjoy expert traders.
Key Features of BingX Copy Trading
1. Secure and Transparent Process:
No money transfer is needed for BingX's copy trading. It does not require users to transfer their funds to another person. Your cryptocurrency remains in your account. This eliminates the risk of funds being stolen or mismanaged.
Copy trading lets your account mimic the trades of experienced traders. It does so automatically. This means you enjoy their expertise without directly entrusting them with your assets.
2. Trusted and Proven Traders:
Verified Traders: BingX ensures only trusted traders. They are available for copying. This vetting process gives users confidence that they are following traders with a successful track record.
Users can view detailed performance metrics and historical data of traders. This allows them to make informed decisions about whom to follow.
3. Ideal for Newbies:
Copy trading is great for beginners. They may not have the time or expertise to trade actively. By copying the trades of veteran traders, they can engage in trading with a similar level of expertise.
New traders can learn by observing the strategies and decisions of the experienced traders they follow. This adds an educational aspect to the copy-trading experience.
4. Automated Trading:
Trades are executed instantly. This ensures that users can use market opportunities as soon as they arise.
– No Constant Monitoring Needed: Users do not need to be constantly online to manage their trades. The automated system ensures that trades are mirrored in real time.
5. Flexible Options:
Users can set their own risk parameters. They can allocate parts of their portfolio to copy trading. This allows for personalized control over their investments.
BingX offers many trading strategies to follow. They cater to different risk appetites and investment goals.
Benefits of BingX Copy Trading
Security and Peace of Mind: Users have no need to transfer funds. The system mimics trades securely. This lets users trade confidently, knowing their assets are safe.
Access to Expertise: Users can enjoy pro trading strategies. They can do this by following experienced traders. They can do this without needing deep market knowledge.
Automated trading saves time. It eliminates the need for watching the market all the time. It is ideal for those with busy schedules.
There is a learning opportunity. It is in observing the trades and strategies of veteran traders. They provide valuable insights and education for newcomers to the market.
Future Development Trends
Copy trading is being added to cryptocurrency exchanges like BingX. This represents a big trend in the industry. More exchanges are adopting this feature. It signals a shift to easier and user-friendly trading. The trend shows that cryptocurrency trading will likely focus on making it easier for individuals. They will use professional trading strategies. This will help them join and enjoy the market.
Summary
BingX Exchange's copy trading feature in 2024 is secure and efficient. It's also user-friendly. It provides a great way to engage in cryptocurrency trading. Users mimic the trades of experienced traders on BingX. They do not transfer their funds. This setup ensures a safe and clear trading experience. This feature is great for beginners. It offers them the chance to trade with professional expertise. They can also learn from seasoned traders. The cryptocurrency market is changing. Copy trading on platforms like BingX will become a cornerstone of the trading experience. It will give everyone access to the benefits of professional trading strategies.
⏩ BingX Referral code 2024: IMOIJ1
⏩ Bonus: 5125 USDT + 25% discount fees
Demo Trading
BingX Exchange keeps innovating and improving its features. It offers a strong demo for users interested in futures trading. The demo trading feature is designed to be risk-free. It's for learning and practicing. Now, it has several new updates. They make it better for users and for learning.
Key Features of BingX Demo Trading
1. Virtual Currency (VST):
Upon creating an account, users get 100,000 Virtual USDT (VST) to trade with. This virtual currency allows users to practice trading without risking real funds.
You cannot exchange VST. It is only for demos. You cannot swap it for other money. You also can't take it off the platform or spend it outside demos. It holds no actual monetary value.
2. Realistic Trading Environment:
The demo replicates the standard platform. It provides a realistic trading experience. Users can practice all aspects of futures trading as they would in a live environment.
The demo trading platform uses real-time market data. It lets users monitor unrealized profit and loss. They can also make trades based on the current market.
3. Swift Trade Execution:
Immediate Order Processing: We process trades with VST funds quickly. This lets users see instant results. They can understand the impact of their choices.
4. Educational and Training Tool:
This feature is ideal for beginners. The demo trading is especially good for those new to futures trading. It offers a safe space to learn about futures contracts. And you can learn without financial risk.
Experienced traders can use the demo mode to test new strategies or improve old ones without risk.
5. Enhanced User Interface:
The demo trading interface has user-friendly design. It is intuitive and easy to navigate. This design makes it accessible for traders of all skill levels.
Users can track their performance with detailed metrics and reports. These will help them to analyze and improve their trading strategies.
Benefits of BingX Demo Trading
Learn without risk. Users can practice futures trading without losing real money. It is an excellent tool for education and skill development.
Users can use VST to trade in a realistic environment. It helps them build confidence in their trading. They can do this before moving on to live trading.
Traders can use the demo mode to test and adjust their strategies. This ensures they are ready for the live market.
Immediate feedback helps you learn and improve. It comes from real-time tracking of execution and profit/loss.
How to Get Started
1. Create an Account: Sign up for an account on BingX to access the demo trading feature.
2. Get VST Funds: When you create your account, 100,000 VST will be deposited into it.
3. Start Trading: Navigate to the demo trading section, use your VST funds to execute trades, and monitor your performance in real time.
4. Learn and Improve: Use the detailed metrics and reports to study your trading strategies. Use them to refine your approach.
Summary
BingX Exchange's demo trading feature in 2024 is risk-free. It offers a complete environment for users to practice and learn futures trading. You get 100,000 VST when you create an account. You also get real-time market data and an easy-to-use interface. BingX is a great tool for both new and experienced traders. It doesn't matter if you are new to futures trading or want to try new strategies. BingX’s demo platform will help you gain the skills and confidence for successful trading. Sign up today and start your journey to becoming a proficient futures trader with BingX.
How to register BingX Account?
If you have trouble creating an account on BingX. Don't worry, we will help you. Please follow the steps below in the correct order to ensure successful registration:
- Step 1 – Create an account, open BingX's official website www.bingx.com, and select Login/Register in the top right corner.
- Step 2 – Fill out your information completely on the form: your name, phone number, email address, and password.
- Step 3 – Enter referral code IMOIJ1
- Step 4 – Enter Submit. An activation email will be sent from BingX to your Gmail to confirm account registration.
- Step 5 – Once you've confirmed your email address, your BingX account will be activated automatically. Upon receiving the 6-digit OTP on your registered mobile number, you can use it to log in to your newly created account.
It's worth noting that BingX doesn't require a KYC process for depositing funds into your account. After creating your account, you can log in and start exchanging and exploring all the great features BingX has to offer. However, you should conduct KYC of your account to increase the security of your account!
⏩ BingX Referral code 2024: IMOIJ1
⏩ Bonus: 5125 USDT + 25% discount fees
Trading With BingX
BingX Exchange provides a strong and user-friendly trading platform. It meets the needs of both new and experienced traders. BingX has advanced technical analysis tools. It has flexible margin trading options and comprehensive risk management features. These provide traders with all they need. They will help them succeed in the fast world of cryptocurrency trading. Are you new to trading or refining your strategies? BingX offers the tools and features to support your trading journey in 2024.
Advanced Trading Tools
BingX integrates TradingView. It has a powerful TradingView feature. This gives access to a suite of technical analysis tools. Traders can use many chart patterns, indicators, and drawing tools. These tools help them analyze markets and make trading decisions.
Margin Trading Options
– Isolated and Cross-Margin Trading: BingX offers both isolated and cross-margin trading options.
– This option has an Isolated Margin: It limits risk to individual trades. It is good for traders who want to manage risk per trade.
Cross-margin spreads risks across many open positions. This allows advanced traders to leverage their account balance better.
Risk Management Features
Take-Profit and Stop-Loss Orders: Traders can set these orders under the margin slider. They provide an easy way to manage profits and losses.
They allow traders to set two conditional orders at once. When one order is triggered, the other is canceled. This offers a streamlined approach to risk management.
Important Considerations
BingX offers stop-loss orders as a risk management tool. But, they do not come with a guarantee. In very volatile markets, the stop-loss price may deviate by up to 30%. This affects the feature's effectiveness.
Additional Trading Tools
BingX includes a profit and loss calculator. It is an invaluable tool for traders. This calculator estimates position sizes. It uses margin, entry price, and exit price. It helps in trade planning and risk management.
BingX Fees
Trading Fees
The BingX derivatives exchange applies a consistent trading fee of 0.075% for both open and closed positions, calculated as the product of trading volume and a percentage of trading fees. This fee structure is quite competitive when compared to other crypto exchanges.
What are you waiting for, create an account on BingX now to enjoy this advantage.
| Type | Spread Ranges |
| Cryptocurrency – Bitcoin | 0.02% ~ 0.1% |
| Cryptocurrencies other than Bitcoin | 0.02% ~ 0.2% |
| Global Indies | 0.02% ~ 0.15% |
| Commodities | 0.02% ~ 0.1% |
| Forex | 0.02% ~ 0.1% |
Compared to other exchanges, BingX's 0.075% fee is very competitive. Here’s a quick look at how other platforms stack up:
Binance:
- Spot Trading Fee: 0.1% for both makers and takers.
- Futures Trading Fee: 0.02% for makers and 0.04% for takers.
Bybit:
- Futures Trading Fee: 0.025% rebate for makers and 0.075% for takers.
MEXC:
- Spot Trading Fee: 0.2% for both makers and takers.
- Futures Trading Fee: 0.02% for makers and 0.06% for takers.
Bitget:
- Spot Trading Fee: 0.1% for both makers and takers.
- Futures Trading Fee: 0.02% for makers and 0.06% for takers.
KuCoin:
- Spot Trading Fee: 0.1% for both makers and takers.
- Futures Trading Fee: 0.02% for makers and 0.06% for takers.
In addition to the trading fees, the exchange also imposes a spread fee. The fee varies depending on the type of contract being traded. For instance, the spread fee for BTC contracts is 0.02% to 0.1%. It could rise to 0.2% for other crypto pairs. To find the minimum deposit and supported cryptocurrencies, consult the table below:
| Cryptocurrencies | Minimum Deposit Amount | Supported Network | |
| 1 | USDT | 1 USDT | ERC20, TRC20, OMNi |
| 2 | USDC | 1 USDT | ERC20 |
| 3 | BTC | 0.0002 BTC | BTC |
| 4 | ETH | 0.01 ETH | ERC20 |
Withdrawal Fees
BingX charges a small withdrawal fee. It applies when users withdraw ETH or BTC. The fee is about 0.007 ETH and 0.0005 BTC. However, withdrawing stablecoins costs $28 per transaction. This amount is steep compared to the average fees worldwide. To find out the withdrawal fees that BingXg applies, refer to the table below:
| Cryptocurrencies | Withdrawal Fee | |
| 1 | USDT-ERC20 | 20 USDT |
| 2 | USDT-TRC20 | 1 USDT |
| 3 | USDT-OMNI | 28 USDT |
| 4 | USDC | 20 USDT |
| 5 | BTC | 0.005 BTC |
| 6 | ETH | 0.007 ETH |
| 7 | XRP | 0.25 XRP |
Deposit Fees
When depositing cryptocurrencies into a trading account, BingX doesn't levy any fees. However, there might be fees when converting fiat to crypto, which is dependent on the deposit method selected by the user and their region's third-party provider. To obtain a complete understanding of the fee structure, it's recommended to examine the detailed information accessible on BingX's official website.
My Opinion
BingX Exchange stands out with its competitive trading fee of 0.075% for derivatives, which is among the lowest compared to Binance, Bybit, MEXC, Bitget, and KuCoin. Additionally, the platform offers a variety of assets and trading options with clear and straightforward fee structures.
However, while BingX's trading and deposit fees are advantageous, its withdrawal fees, particularly for stablecoins, can be relatively high. Nonetheless, for traders focused on futures and margin trading, BingX provides a highly competitive and user-friendly environment.
What are you waiting for? Create an account on BingX now to take advantage of these competitive fees and enjoy a seamless trading experience!
BingX Affiliate Program
If your network could enjoy BingX and you like their offer, you can reach out to [email protected]. Their affiliate program offers an industry-leading commission rate of 60%.
Also, affiliates get lower fee rates. Standard contract rates are as low as 0.045%. Maker rates are 0.02%, and taker rates are 0.03% for Perpetual Swaps.
Upon signing up, you also have a chance to get bonuses of 100+ USDT. BingX gives branded gifts to its affiliates. If you have a network, BingX's affiliate program is an exciting opportunity to seize.
⏩ BingX Referral code 2024: IMOIJ1
⏩ Bonus: 5125 USDT + 25% discount fees
BingX Accepted Payment Method
BingX provides a range of payment methods, including:
- Debit or credit cards (Mastercard, Visa)
- MoonPay
- Banxa
- Apple Pay
- Cryptocurrencies
Customer Support by BingX Exchange
If you need any help or have questions, you can head to the Help Center section available on the BingX website or contact their support team via email at [email protected]. They usually respond to email inquiries within 12 hours. You should consult cryptocurrency trading professionals for independent advice before making any investment decisions, as well as with any financial decisions.
Community of Bingx exchange
- Twitter: https://twitter.com/bingxcom
- Facebook: https://www.facebook.com/bingxcom
- LinkedIn: https://www.linkedin.com/company/bingx-com/
- Telegram: https://t.me/bingx_com
- Medium: https://medium.com/bingx-com
- Reddit: https://www.reddit.com/user/bingxcom
- Instagram: https://www.instagram.com/bingxcom/
Conclusion
In conclusion, BingX is promising. It is a compelling cryptocurrency exchange. It provides a top crypto-powered leverage platform. This platform is for both new and experienced traders. It is among the top cryptocurrency exchanges. It offers many crypto derivative products, copy trading, and demo trading. The exchange offers a lot. However, our research suggests that BingX needs better language documentation. This would help the section to be more competitive with other exchanges.
Frequently Asked Questions
What is BingX Platform?
Since its establishment in 2018, BingX, a cryptocurrency exchange, has experienced rapid user growth while positioning itself as the premier platform for cryptocurrency trading and investment. Despite its assertive branding, certain industry analysts question whether BingX genuinely lives up to its lofty claims or if its success is fueled more by hype than substantive accomplishments.
Is BingX Legit?
BingX is an authentic cryptocurrency exchange that possesses licenses from regulatory bodies such as FinCEN (U.S.), FINTRAC (Canada), Majandustegevuse Register (EU), and AUSTRAC (Australia). The exchange has established offices in different regions, including North America, Canada, the EU, Hong Kong, and Taiwan. BingX takes security seriously by implementing various measures, and it provides ample liquidity for traders.
Is BingX the same as Bingbon?
BingBon underwent a rebranding in 2021 and adopted the name BingX. Despite the change in name, the exchange remains the same as the one that was launched in 2018 as BingBon. Several new features have since been incorporated, including additional regulatory licenses to ensure its availability and compliance in most jurisdictions worldwide.
Can I use BingX in the USA?
BingX caters to investors and traders from all 50 states in the U.S. As an exchange registered with FinCEN, BingX possesses the necessary license to facilitate crypto-to-crypto trading for residents of the United States. U.S.-based users can create an account, deposit cryptocurrency, and engage in trading of both spot and derivative products.
Where is the company BingX located?
The main office of BingX is in Singapore, and it has additional supporting offices situated in North America, Canada, the European Union, Hong Kong, and Taiwan.
What countries is BingX available in?
BingX extends its services to a broad range of countries, including Asia, Oceania, Europe, Australia, and South America. The platform accommodates users from over 100 different countries.
Who is BingX owned by?
Company Overview. Co-founded in 2018 by Josh Lu, BingX has its headquarters in various strategic locations such as Canada, the European Union, and Australia. The platform has expanded its presence to more than 100 countries, accumulating over 5 million users worldwide.
Is BingX Good for Trading?
BingX caters to a diverse range of trading styles and proficiency levels. Its user-friendly interface is well-suited for novices, while automated copy trading enables effortless investment for hands-off investors. Seasoned traders enjoy advanced features such as robust charting, diverse order types, effective risk controls, and exclusive discounts for high-volume activities.
Is BingX available in USA Today?
Although BingX stands as a widely recognized global cryptocurrency exchange, residents of the United States are currently unable to legally avail its services. This restriction arises from the exchange lacking the necessary regulatory licenses to operate within the U.S. jurisdiction.
