BingX (BingBon) exchange review

Attention! This article is for informational purposes only and does not contain recommendations or calls to action.

The review has been prepared by the CScalp terminal team. You can get CScalp by leaving your e-mail in the form below.

BingX is the unique crypto-exchange with social elements that stepped into the universe of blockchain and cryptocurrencies with a special tool for copying trades automatically.

BingX exchange entered the TOP-7 derivatives exchanges according to Coinmarketcap in terms of volume, overtaking such outstanding platforms as Gate.IO, BitGet, KuCoin, BitMex. BingX gains popularity among beginners and professionals demonstrating daily volume of more than 4 bln dollars.

Click the button registration to register.

Click the button registration to register.

Follow the instructions given in the registration form.
Finally, click “Next” to complete the registration process.

BingX provides a huge variety of trading pairs. With BingX users have the opportunity to trade not only traditional market instruments but cryptocurrencies using high margins. USDT and Bitcoin are provided as collateral instruments in trading with cryptocurrency, indices, and commodities. More than 30 pairs of cryptocurrencies are available for trading. For every instrument, you can set up the leverage individually.

There are several trading sections. In the Standard Contract section, you can trade instruments setting up to 125 x leverage in different instruments. In this section you can trade Forex, NFT, Indices and Commodities. To manage your risk the functions of setting Stop Loss and Take Profit are available.

BingX perpetual Swap section (at the stage of demo) is often being confused with the futures, however the main difference is that in perpetual swap there is no delivery date of the instrument. Another difference that could be described as an advantage over futures trading is that the perpetual swap implies the so-called “fund rate” principle that facilitates a perpetual contract corresponding to a specified price from the long-run perspective, making this option less risky and volatile.

Spot trading. In this section you can easily purchase or sell the instruments such as BTC, ETH, XMR, etc. with immediate delivery to your spot wallet for a long-term hold. Moreover, staking of assets is available. This service implies that you provide the liquidity for the exchange for a reward received in the form of another asset. The more liquidity you provide for the exchange by holding certain assets the more reward you get. This is a very useful service to get passive income on your holdings if you hold an asset for a long-term period.

The solid advantage of BingX is the copy trading service. Each user has the opportunity both to use the copying service and to provide it. On the exchange, clients can find the list of traders ranked by the number of followers, trading statistics, and profit rates. The clients can choose the trader they consider most reliable and start copying his trades. When copying trades, you are charged 8% of the profit in favor of the trader responsible for earned profit. Users can limit the amount of funds that will be used in each trade by the chosen trader within the copy trading. It is also possible to diversify your funds by subscribing for as many traders as you like, setting up the maximum amount of funds and order margin per trade for each of the traders you are subscribed for.

Click on the button “Buy crypto”.

To buy crypto assets, you should stipulate the amount of cryptocurrency in the form. Then choose the payment method you prefer and click the button “Buy now”. The assets will be directed to your account immediately. Unlike other most popular exchanges, BingX does not require personal verification not for the depositing nor for the withdrawal that makes it much easier to use without sacrificing security of your funds.

Low fees, simple process of registration without identity confirmation and the unique feature of copy trading are the solid competitive advantages of BingX exchange. For newcomers who have just started trading and crave getting profit, this is a great opportunity to entrust the management of trades to experienced traders with open statistics and borrow their experience.