As a leading global cryptocurrency exchange, BingX has announced a comprehensive upgrade to its contract trading function. This upgrade combines strategic control, flexible trading, and risk management tools to bring users a revolutionary contract trading experience.
One of the most important 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 trigger prices (optional latest price, marked price, or index price as trigger price), the system will close existing positions at market prices after the trigger price is reached and simultaneously open positions in the opposite direction in 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 profits and reduce losses by rapidly responding to market changes.
Another major highlight is BingX’s perpetual contract “one-way position” mode. This mode simplifies cryptocurrency trading, allowing BingX users to hold positions in only one direction, either long or short, like traditional trading. In addition, BingX has introduced the “position take profit and stop loss” function, which automatically executes a market order to close the entire position when the market price reaches the trigger price set by the user, making position management more flexible and risk management simpler.
Vivien Lin, Chief Product Officer of BingX, said:
By continuously introducing innovative features, BingX is committed to providing users with advanced trading tools, demonstrating the platform’s determination to innovate in the cryptocurrency industry, marking the advancement of BingX contract trading to a higher level, and heralding that BingX platform will bring users a more advanced, efficient, reliable, and user-friendly trading experience.
About BingX:
Founded in 2018, BingX is a leading global cryptocurrency exchange that provides a diverse range of products and services, including 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 dedicated to providing a reliable platform, empowering users with innovative tools and features to enhance their trading capabilities.
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