Singapore- In a recent announcement, BingX, a globally recognized cryptocurrency exchange, has introduced a comprehensive update to its futures trading platform. This update aims to provide traders with a transformative experience that combines strategic control, flexibility, and enhanced risk management tools.
One of the standout features is the Trigger Reverse tool, a revolutionary addition that reshapes the way crypto traders respond to market fluctuations. This tool allows BingX users to automatically reverse positions based on pre-defined criteria. Users can set trigger prices using options such as last price, mark price or index price, allowing them to seamlessly close their existing position at the market price while simultaneously opening an equivalent position in the opposite direction. In case of insufficient margin, the system can use the maximum available margin. This tool is designed to respond quickly to market changes, facilitating quick profit realization or loss reduction.
BingX has also introduced One-Way Mode for BingX Perpetual Futures, giving users the flexibility to hold positions in a single direction, either long or short. This streamlined approach aligns crypto trading with traditional financial trading methods. In addition, the platform has introduced Position TP/SL (Take Profit/Stop Loss), which automatically executes a market order to close the entire position when the market price reaches the user's trigger price. This feature enhances flexibility and risk management as positions evolve.
Vivien Lin, Chief Product Officer at BingX, expressed her excitement, saying, "To further incentivize exploration, we are introducing the Perpetual Futures Bonus. This will allow users to trade Perpetual Futures at no cost, with the added benefit of being able to withdraw any profits earned. Our goal is to help users experience the dynamic world of perpetual trading without financial constraints.
These latest features underscore BingX's commitment to providing users with cutting-edge trading tools and its ongoing dedication to innovation in the cryptocurrency sector. These enhancements mark a significant step in the evolution of futures trading and promise an enhanced, efficient and user-friendly trading experience on the BingX platform.
