SINGAPORE, Aug. 4, 2023 /THETECHMUSK=TTM/ — BingX, a leading global cryptocurrency exchange, is excited to unveil three cutting-edge features aimed at enhancing user trading experience in Perpetual Futures. These upgrades include the Dual-Price Mechanism, Guaranteed Price, and Upgraded Signal Trading, all designed to provide BingX users with enhanced flexibility, fairness, and professional trading capabilities.
The Dual-Price Mechanism is designed to ensure fair trading and protect users from abnormal market conditions that may lead to forced liquidation. Market fluctuations can significantly widen the gap between the market price and the spot price, leading to extensive forced liquidations. In the pursuit of a level playing field, BingX adopts the Dual-Price Mechanism to thwart market fluctuation and safeguard BingX users from potential losses. This measure not only ensures a fair trading environment but also strengthens the credibility of the entire cryptocurrency industry.
The Dual-Price Mechanism works by introducing two prices, namely the Mark Price and the Last Price, to calculate the unrealized profit and loss (PnL) of a user’s open positions. It comes into play when the Last Price deviates significantly from the Mark Price. In such cases, the mechanism adjusts the liquidation trigger price for a user’s positions based on the Mark Price instead of the Last Price.
To combat slippage issues during planned and stop-loss orders, BingX launches the Guaranteed Price (GTD), which is built based on the previously launched Guaranteed Stop Loss feature. Once activated, the GTD mechanism ensures users’ positions are executed at their predetermined price, protecting them from unnecessary losses even amidst drastic market volatility. This exclusive industry-first function provides users with unmatched liquidity and creates a superior and high-liquidity trading environment.
In an exclusive initiative, BingX introduces Upgraded Signal Trading, offering users seamless access to automated strategy following from TradingView to perpetual orders on BingX. With this enhancement, BingX not only offers straightforward order placement but also integrates support for strategy-based instructions. The advantages of this feature include direct connectivity between TradingView and BingX, eliminating the need for additional API integrations, making quant trading accessible to all users, and unlimited free usage on BingX. These flexible strategy instructions empower users to customize and fine-tune trades during the process, providing an unparalleled user-friendly experience.
Elvisco Carrington, PR and Communications Director of BingX, emphasized the significance of these upgrades, stating, “BingX remains committed to providing a competitive edge to our users by continually introducing groundbreaking and professional features that level up the crypto trading experience. All these latest feature launches underscore our dedication to innovation and user-centricity. With recent updates in perpetual futures trading, BingX solidifies its position as a pioneering platform that empowers users with advanced tools for success.”
BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way.