Executing Orders on Bing X Platform
Executing Orders on Bing X Platform
Bing X (formerly known as BingBon) is a cryptocurrency exchange that offers both spot and derivatives trading services. This overview provides a beginner-friendly guide to executing orders and understanding the platform's core functionalities. You can begin your journey by visiting Register here.
Core Features
Bing X is known for offering a wide range of trading products, often catering to users interested in both traditional cryptocurrency trading and leveraged products.
- **Spot Trading:** Direct buying and selling of cryptocurrencies.
- **Derivatives Trading:** Offering perpetual futures contracts, often with leverage.
- **Copy Trading:** A feature allowing users to automatically replicate the trades of experienced traders on the platform.
- **Asset Diversity:** Support for a large selection of major and emerging digital assets.
Fees and Supported Assets
Trading fees on Bing X are generally competitive, structured based on whether you are a maker (providing liquidity) or a taker (removing liquidity) in the Order book. Fees for spot trading are typically lower than those for futures trading.
Supported assets include major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), as well as numerous altcoins available for spot trading and as underlying assets for futures contracts.
Spot and Futures Basics
The platform supports two primary trading environments:
- Spot market: In spot trading, you buy or sell the actual underlying asset. If you buy BTC on the spot market, the BTC is deposited into your exchange wallet immediately upon settlement.
- Futures contract: Futures trading involves agreements to buy or sell an asset at a predetermined price at a specified time in the future. Bing X primarily focuses on perpetual futures, which do not expire and can be held indefinitely, often utilizing leverage.
Order Types
Understanding order types is crucial for effective trading, whether in the Spot market or futures environment.
- Limit order: An order to buy or sell at a specific price or better. You can learn more about how these work at What Are Limit Orders and How Do They Work?.
- Market order: An order to buy or sell immediately at the best available current price. For more detail, see Market orders.
- Stop Orders: These are conditional orders that trigger a Limit order or Market order once a specified price (the stop price) is reached. Information on these can be found at Stop Orders.
The following table summarizes common order types available for execution:
| Order Type | Function | Primary Use Case |
|---|---|---|
| Limit order | Sets a specific entry/exit price. | Waiting for a desired price level. | ||
| Market order | Executes immediately at the best available price. | Quick entry or exit when speed is critical. | ||
| Triggers a trade when a set risk threshold is hit. | Risk management. |
Liquidity and Markets
Bing X maintains significant liquidity across its major trading pairs, particularly in BTC/USDT and ETH/USDT. High liquidity ensures that large orders can be filled quickly without causing significant price slippage, which is reflected in the depth of the Order book.
Security Practices
Exchanges employ several security measures to protect user funds and data. Bing X typically utilizes:
- Two-Factor Authentication (2FA).
- Cold storage solutions for the majority of assets.
- Encryption for data transmission.
Users are strongly encouraged to enable 2FA immediately after registration.
KYC and Limits
Know Your Customer (KYC) requirements vary depending on the services accessed. Basic trading functions might be available with minimal verification, but higher withdrawal limits or access to certain derivatives features often require full identity verification. Limits on deposits and withdrawals are tied directly to the level of KYC completion.
Funding and Withdrawals
Users can fund their accounts via cryptocurrency deposits (transferring assets from external wallets) or, in some regions, via fiat on-ramps. Withdrawals are processed according to the exchange's internal schedule, typically requiring confirmation on the blockchain network.
Mobile and Web UX
Bing X provides a comprehensive user experience across both web platforms and dedicated mobile applications (iOS and Android). The interface is generally designed to accommodate both novice users (with simplified views or copy trading) and advanced traders (offering detailed charting tools and order entry options).
Risks and Responsible Trading
Cryptocurrency trading, especially involving leverage in futures contracts, carries substantial risk. Losses can exceed initial investments when using high leverage. Users should only trade with capital they can afford to lose, utilize stop-loss mechanisms, and understand the mechanics of their chosen trading product before executing any order.
First Steps Checklist
To start trading on Bing X, follow these preliminary steps:
1. Complete registration using Register here. 2. Enable Two-Factor Authentication (2FA) in security settings. 3. Complete necessary KYC verification if required for your intended trading volume. 4. Deposit cryptocurrencies into your Bing X wallet. 5. Transfer funds from your main wallet to the Spot or USDT Perpetual wallet, depending on your trading goal. 6. Familiarize yourself with the Order book and practice placing a small Limit order before attempting large trades.
See also (on this site)
- Bing X Spot Trading Explained Simply
- Understanding Bing X Fee Structure
- Listing Major Assets on Bing X
- Bing X Spot Versus Futures Basics
Recommended articles
- Position Sizing and Stop-Loss Orders: Essential Risk Management Tools for Crypto Futures
- How to set stop-loss orders in crypto trading
- Risk Management Tips: Stop-Loss Orders in Crypto Futures
- The Basics of Market Orders in Crypto Futures
- Cara Memilih Platform Trading Cryptocurrency Terpercaya untuk Perpetual Contracts
Recommended Futures Trading Platforms
| Platform | Futures perks & welcome offers | Register / Offer |
|---|---|---|
| Binance Futures | Up to 125× leverage, USDⓈ-M contracts; new users can receive up to 100 USD in welcome vouchers, plus lifetime 20% fee discount on spot and 10% off futures fees for the first 30 days | Sign up on Binance |
| Bybit Futures | Inverse & USDT perpetuals; welcome bundle up to 5,100 USD in rewards, including instant coupons and tiered bonuses up to 30,000 USD after completing tasks | Start on Bybit |
| BingX Futures | Copy trading & social features; new users can get up to 7,700 USD in rewards plus 50% trading fee discount | Join BingX |
| WEEX Futures | Welcome package up to 30,000 USDT; deposit bonus from 50–500 USD; futures bonus usable for trading and paying fees | Register at WEEX |
| MEXC Futures | Futures bonus usable as margin or to pay fees; campaigns include deposit bonuses (e.g., deposit 100 USDT → get 10 USD) | Join MEXC |
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