As a leading global cryptocurrency exchange, BingX 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.
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 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 move aims to quickly achieve profitability and reduce losses by responding rapidly to market changes.
Another highlight is BingX’s perpetual contract “uni-directional position” mode. This mode simplifies cryptocurrency trading, allowing BingX users to engage in uni-directional positions, either long or short, just like traditional trading. Additionally, BingX has introduced the “position take profit/stop loss” feature, which automatically executes a market order to close the entire position when the market price reaches the trigger price set by the user. This makes managing positions more flexible and risk management simpler.
Vivien Lin, Chief Product Officer of BingX, stated: “By continuously launching innovative features, BingX is committed to providing advanced trading tools to users, showcasing the platform’s determination to constantly innovate in the cryptocurrency industry. This marks a step towards a higher level of contract trading for BingX and signifies that the BingX platform will bring users a more advanced, efficient, and user-friendly trading experience.”
About BingX:
Established in 2018, BingX is a leading global cryptocurrency exchange, providing a diverse range of products and services such as spot trading, 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.
This article is provided by the official source and does not represent the stance or investment advice of this platform. Readers must conduct their own careful evaluation.
