SINGAPORE, Jan. 12, 2024 /PRNewswire/ — BingX, a global leading crypto exchange, has announced its comprehensive update to its futures trading, offering a transformative trading experience that combines strategic control, flexibility, and risk management tools.
A highlight of these updates is Trigger Reverse feature, a groundbreaking tool that changes the way crypto traders react to market fluctuations. It allows BingX users to automatically switch positions when certain criteria are met. By setting a trigger price among last price, mark price, or index price options, BingX users can easily close their existing position at the market price while simultaneously opening an equivalent position in the opposite direction. The system can use the maximum margin available in cases of insufficient margin. This tool is designed for rapid response to market changes, enabling swift profit realization or loss reduction.
Another one is One-Way Mode for BingX Perpetual Futures, offering BingX users an option to maintain positions in one direction only, either long or short. This approach simplifies crypto trading, aligning it with traditional financial trading methods. BingX also unveils Position TP/SL (take-profit/stop-loss). When the market price reaches the user’s trigger price, the system will execute a market order to close the entire position, providing extra flexibility and risk management as the position evolves.
Vivien Lin, BingX’s Chief Product Officer, shared her enthusiasm: “To further encourage exploration, we also introduce Perpetual Futures Bonus, which allows users to delve into Perpetual Futures trading at zero cost, with the added value of withdrawing any profits earned. This new incentive aims to support our users in experiencing the dynamic world of perpetual trading without financial constraints.”
These latest features from BingX underscore its commitment to empowering users with cutting-edge trading tools and its ongoing dedication to innovation in the crypto sector. These enhancements represent a big step in the evolution of futures trading, promising an improved, efficient, and friendly trading experience on BingX platform.
Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency.