BingX, as a leading global cryptocurrency exchange, has announced a comprehensive upgrade to its contract trading functionality. This upgrade combines strategic regulation, flexible trading, and risk management tools to bring users a revolutionary contract trading experience.
Contents:
Toggle
BingX Upgrade: “Plan Reversal” Feature
Perpetual Contract: “One-way Position” Mode
About BingX
One highlight among the many upgrades is the newly launched “Plan Reversal” feature. As a pioneering new feature of BingX, Plan Reversal helps BingX users automatically engage in reverse trading under certain conditions. By setting trigger prices (optional: latest price, marked price, or index price), the system will close existing positions at market prices after the trigger price is reached, and simultaneously open positions in the opposite direction with the same quantity. If the user’s margin is insufficient, the system will automatically open positions according to the maximum allowable quantity. This move aims to quickly achieve profitability and reduce losses by rapidly responding to market changes.
Another highlight is the “One-way Position” mode of BingX perpetual contracts. This mode simplifies cryptocurrency trading, allowing BingX users to engage in one-way positions, either long or short, just like traditional trading. In addition, BingX has introduced the “Position Take Profit and Stop Loss” feature. When the market price reaches the user’s set trigger price, the system will automatically execute a market order to close the entire position, making position management more flexible and risk management simpler.
Advertisement – Scroll down for more content
Vivien Lin, Chief Product Officer of BingX, said, “In order to further encourage BingX users to explore contract trading, we have also introduced perpetual contract bonuses to help users experience perpetual contract trading at zero cost. Users can earn profits through the bonuses. This new incentive mechanism lowers the trading threshold for users and helps them experience the perpetual trading world more easily.”
Through continuous introduction of innovative features, BingX is committed to providing users with advanced trading tools, demonstrating the platform’s determination to constantly innovate in the cryptocurrency industry. This marks a higher level for BingX contract trading and signifies that the BingX platform will bring users a more advanced, efficient, reliable, and user-friendly trading experience.
About BingX:
BingX was established in 2018 and is a leading global cryptocurrency exchange that provides diversified products and services, including spot, derivatives, copy trading, grid trading, and asset management, to over 10 million users worldwide. BingX is dedicated to providing a trusted platform, empowering users with innovative tools and functionalities to enhance their trading capabilities.
BingX Plan Reversal
Further Reading:
BingX Chinese New Year Celebration Event: 400 “Nobody & Stephen Chow” NFT Whitelist First Release Waiting for You!
BingX Cryptocurrency Exchange Becomes Official Partner of Chelsea Football Club.