BingX, as a leading global cryptocurrency exchange, has announced a comprehensive upgrade to its contract trading functionality. This upgrade combines strategic regulation, flexible trading, and risk management tools to provide users with a revolutionary contract trading experience.
One of the highlights of this upgrade is the newly introduced “Plan Reverse” feature. As a pioneering new feature of BingX, Plan Reverse helps BingX users to 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, and simultaneously open 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 profits and reduce losses by responding rapidly to market changes.
Another highlight is the “Unidirectional Position” mode for BingX perpetual contracts. This mode simplifies cryptocurrency trading, as BingX users can engage in unidirectional positions of either long or short, just like traditional trading. Additionally, BingX has introduced the “Position Take Profit and Stop Loss” feature, where the system automatically executes a market order to close the entire position when the market price reaches the trigger price set by the user. This allows for more flexible position handling and simpler risk management.
Vivien Lin, Chief Product Officer of BingX, stated:
“Through the continuous introduction of innovative features, BingX is committed to providing users with advanced trading tools, demonstrating our platform’s determination to innovate in the cryptocurrency industry. This marks the advancement of BingX contract trading to a higher level 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 that provides diversified products and services, including spot, derivatives, copy trading, grid trading, and asset management, to over 10 million users worldwide. BingX is dedicated to providing a trusted platform that empowers users with innovative tools and features to enhance their trading capabilities.
This article is provided by the official source and does not represent the position or investment advice of this platform. Readers must conduct their own careful evaluation.
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