BingX

Bingx (formerly bingbon) is a name often mentioned in the crypto community. Especially when it comes to copy trade coin platforms. So what is bingbon? Is it reputable or a scam? We invite you to learn more about the bing bon floor!

What is Bingx?

Bingx is a cryptocurrency exchange, a Contract for Difference (CFD) trading platform, similar to futures on the Binance exchange. The Bingbon exchange allows users to trade high-speed, secure, and low-fee contracts on various instruments, including cryptocurrencies, indices, and forex pairs.

Established in 2018 in Taiwan, Bingbon has asserted itself as a leading cryptocurrency trading platform that enables traders to use cryptocurrency derivatives contracts. Bingbon was founded with the aim of becoming a pioneering and market-leading virtual currency exchange.

Reputation

“Bingx is a reputable cryptocurrency exchange because it is licensed by the Financial Crimes Enforcement Network Department of the Treasury to combat financial fraud, and holds an MSB (Money Service Business) license.”

Address to look up US MSB license information at:  https://www.fincen.gov/msb-state-selector.

In addition, tradermini is also experiencing at the bingbon coin exchange and feels very satisfied with the interface, order matching speed, fee level and especially the very fast customer support service so everyone can rest in peace. invest in bingbon without having to worry about BingX scam!

Features and highlights of Bingx exchange.

In addition to owning a reputable license, Bingx exchange stands out for its bonus program, smooth mobile application, and Copy Trade feature. The Copy Trade feature is a notable highlight that has made Bingx a well-known name among many traders.

Bingbon copy Trade

When it comes to copy trading, people usually think of forex copy trading. However, not every platform offers this feature due to difficulties in obtaining licensing. In the field of cryptocurrencies, it is a rare occurrence. This marks a turning point in the development of the cryptocurrency industry in general, and for Bingbon in particular. It is a primary trend that every cryptocurrency exchange aims to achieve in the future.

If you are one of the inexperienced or time-poor traders who have little to no experience in trading and the time to monitor the markets, then copy trading is definitely a good option for you. The biggest advantage of copy trading is that it helps eliminate the hassle of researching a strategy to make winning trades. Simply put, a trader only needs to follow any experienced trader to place profitable trades. This is why platforms like Exness Social Trading in the forex industry have become widely popular among both new and professional traders.

Copy trading with Bingbon’s social trading platform allows traders to earn high profits by selecting the best traders from the suggested list. To use the Bingbon copy trade platform, traders must first register or create an account with the Bingbon exchange and then download the Android and iOS mobile app to monitor their trades.

Note: The profit that the copyist achieves will have to share 8% to the traders. This amount will be paid to the teller after 23:00 every day.

Fees applicable at bingbon

1.Withdrawal fee

Number	withdrawal currency	minimum	Withdrawal cost per order
1	USDT-ERC20	15 USDT	4 USDT
USDT-TRC20	0 USDT
USDT-OMNI	5 USDT
2	USDC	15 USDC	2 USDT
3	BTC	0.06 BTC	0.0005 BTC
4	ETH	0.15 ETH	0.005 ETH

Note: The above transaction fees are for reference only, specific will be based on the actual situation. The system will automatically calculate a fair price based on the movement of each token in real time.

2.Standard contract fee
Spread
The spread depends on the current number of long and short positions, if the number of orders on the long side is larger than the short side, the spread on the long side will be larger and vice versa.

Calculation method

When long has spread, long price: current price * (1 + spread rate)
When short has spread, short price: current price * (1 – spread rate

The spread is low or high depending on the fluctuations of the market and will be flexibly adjusted when the market changes.

Product	Amplitude spread
BTC/USDT	0.02%~0.1%
Other	0.02%~0.2%

Note: the above spread is for reference only, in fact may be adjusted by the floor according to market movements.

Standard contract transaction costs
Processing fee rate: 0.045% (Current fee discount operation, pre-discount processing fee is 0.075%)
Calculation: Cost = transaction level * fee rate (only collected when opening a position)
Standard contract fee deduction method: the cost will be saved when opening the position and deducted when the user closes the position.

Sponsorship fee of standard contract

If the user holds the order for more than 1 hour, the sponsorship fee will be charged.

If the funding fee is positive, the transaction or hold requires a funding fee

If the number is negative then the user can be awarded.

Payment or Reward Method

Payment/reward will be processed daily at 00:00, 08:00, and 16:00.

The total funding fee can be checked on the holding page. Payment/reward will be executed upon position closure.

Fee Calculation Method

Amount per payment = total contract trading value * leverage fee (if the result is negative, you will receive a reward)

The funding fee will be calculated by the system at the time of payment.

Currency exchange fee
Currency exchange transaction fee is 0.2%

Evaluate the pros and cons of bingX

Advantage
Diversify trading assets: Not only cryptocurrencies, traders can also trade with forex currency pairs, Commodities, indices.
User-friendly interface, easy to use
high security
There is a fully integrated phone app available.
Support Vietnamese language, very convenient for Vietnamese traders
Very low transaction fees (0.045%).
Can directly deposit USDT to trade
Has Copy Trade feature
High leverage, up to 150x
Professional support team

Defect
Support quite a few cryptocurrencies. Currently, bingx exchange only supports 10 major coins with USDT: BTC, ETH, BCH,XRP, LTC, EOS, ETC, BSV, ADA and TRX
Chart does not fully support tools for users to easily analyze trends

Summary of reviews about bingbon
In my opinion, bingbon is really an ideal margin floor for those who like to trade surfing. Especially those who have good trading methods and want to share through copy trading.
Hopefully, through this article, you will have a better overview of the bingbon floor. If you see fit, yes.