BingX Contract Trading Ascends to New Heights with Introduction of Reverse Trading Feature
BingX, a leading global cryptocurrency exchange, has announced a comprehensive upgrade to its contract trading feature. This upgrade combines strategic regulation, flexible trading, and risk management tools to bring users a revolutionary contract trading experience.
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BingX Upgrade: “Plan Reversal” Feature
Perpetual Contract: “One-way Position” Mode
About BingX
One of the highlights of this upgrade 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 a trigger price (optional: latest price, marked price, or index price), the system will close existing positions at market price after the trigger price is reached, while simultaneously opening 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 is aimed at quickly responding to market changes to achieve profits and reduce losses.
Another highlight is BingX’s perpetual contract’s “One-way Position” mode. This mode simplifies cryptocurrency trading, allowing BingX users to only engage in long positions or short positions, just like traditional trading. In addition, BingX has introduced the “Position Take Profit and Stop Loss” feature. When the market price reaches the trigger price set by the user, the system will automatically execute a market order to close the entire position, making position management more flexible and risk management simpler.
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Vivien Lin, Chief Product Officer of BingX, stated, “In order to further encourage BingX users to explore contract trading, we have also launched perpetual contract rewards, which help users experience perpetual contract trading at zero cost. Users can earn profits through the rewards. This new incentive mechanism lowers the threshold for user trading, helping them experience the world of perpetual trading with ease.”
Through the continuous introduction of innovative features, BingX is fulfilling its commitment to providing advanced trading tools for users, showcasing the platform’s determination to constantly innovate in the cryptocurrency industry. This signifies that BingX’s contract trading is moving towards a higher level, indicating that the BingX platform will bring users a more advanced, efficient, and reliable trading experience.
About
BingX
Founded in 2018, BingX is a leading global cryptocurrency exchange, providing diversified products and services such as spot, derivatives, copy trading, grid trading, and asset management to over 10 million users worldwide, catering to the needs of beginners to professionals. BingX is committed to providing a trusted platform, empowering users with innovative tools and features to enhance their trading capabilities.
BingX
Plan Reversal
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