How to Trade Futures on BingX

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How to Trade Futures on BingX: Step-by-Step Guide 

Here’s a quick summary of the steps involved in trading futures on BingX: 

  1. Sign Up and Verify Your Account: Register on the platform and complete the KYC process. 
  2. Deposit Funds: Add funds to the Funding Wallet. 
  3. Transfer Funds: Move the funds to the Futures Wallet. 
  4. Choose a Trading Pair: Select the cryptocurrency pair you wish to trade. 
  5. Select Order Type: Decide between market and limit orders. 
  6. Set Leverage: Adjust the leverage based on your risk tolerance. 
  7. Open and Close Orders: Manage your trades effectively. 

Detailed Breakdown of the Steps 

1. Create an Account 

  • Sign Up: Go to the BingX homepage and click “Sign Up.” You can register with an email or phone number and create a password. Social account sign-up is also available. 
  • KYC Verification: Upload your ID for verification. This process ensures compliance with regulations. 
  • Locate the Trading Interface: Find the “Derivatives” section and choose either “Perp Futures” or “Standard Futures.” This depends on your trading experience. 

2. Deposit and Transfer Funds 

  • Funding Your Account: After signing up, deposit funds into the Funding Wallet. Transfer these funds to the Futures Wallet for trading. 
  • Transfer Funds: Use the “Transfer” option in the app or web interface. Select the amount you want to allocate for futures trading. 

3. Navigate the Platform 

  • Activate Futures Trading: Futures trading is high-risk. You need to read the user agreement and complete a questionnaire. 
  • Explore the Dashboard: Once approved, access the trading dashboard. Review the markets tab, trading tools, and order book to familiarize yourself. 

4. Open and Close Positions 

  • Choose a Trading Pair: Select the pair to trade. Decide whether to go “Long” or “Short.” If you expect a rise, choose Long; if you anticipate a fall, choose Short. 
  • Close Trades: Use market levels, take profit, or risk management tools like stop loss to close trades. 

Types of Orders and Leverage 

  • Order Types: BingX offers market orders for immediate execution at the current price and limit/trigger orders for executing at a specific price. 
  • Adjusting Leverage: BingX provides leverage up to 125x. Greater gains are possible with higher leverage, but there is a risk involved. For example, 50x leverage means liquidation if BTC drops by 1.8%. 

Risk Management on BingX 

Managing risk is crucial in futures trading. BingX provides tools to help mitigate these risks: 

  • Stop-Loss Orders: Automatically closes positions when the market hits a specific price, minimizing potential losses. 
  • Take-Profit Orders: Locks in profits automatically when the market reaches a favorable price point. 
  • Margin Choices: Choose between isolated and cross margin. Isolated margin limits risk to a specific position, while cross margin uses the entire account balance. 
  • Leverage Management: Adjust leverage according to your risk tolerance. 

Types of Derivatives on BingX 

BingX offers several derivative instruments: 

Derivative Type 

Description 

Futures 

Agreements to purchase or sell an item at a specific price at a later time. Ideal for price predictions. 

Perpetual Futures 

Contracts without an expiration date. Suitable for long-term strategies. 

Options 

(Not on BingX) These give the right, but not the obligation, to buy or sell at a predetermined price. 

 

Pre-Launch Futures Trading 

BingX’s Pre-Launch Futures allows users to speculate on new tokens before they are officially listed. This feature provides early access to potential profits: 

  • Enter Contracts: Predict whether a token’s price will increase or decrease before its market listing. 
  • Trade with Leverage: Amplify gains by using borrowed funds. 
  • Higher Liquidity: Offers better liquidity compared to Pre-Market Spot Trading. 

Why Choose BingX? 

BingX, a global centralized exchange founded in 2018, offers several unique features: 

  • User-Friendly UI: Simplified design for beginners and advanced users. 
  • Copy Trading: Follow and replicate strategies of successful traders. 
  • Grid Trading: Automated trading strategies to buy low and sell high within a set price range. 
  • Multilingual Support: Available in multiple languages, including English, French, and Italian. 
  • BingX Academy: Offers educational content, including guides, tutorials, and webinars on trading strategies. 

Staying Safe on BingX 

When trading futures, prioritize asset safety. Only use official links and double-check trade details. Start with a small sum and leverage to get a feel for the market. Use BingX’s risk management tools like stop-loss orders and leverage management to protect your capital. 

By following these steps and understanding the features, you can effectively trade futures on BingX with more confidence.