BingX is a global trading platform with integrated digital assets, derivatives, and spot trading. The platform is highly popular for its limited-time zero trading fees on spot trading. Moreover, its AI Arbitrage Bot can automatically find the best trading opportunities and bring you up to 90% annual returns.
Recently, BingX started a promotion enabling new users to earn up to 5,125 USDT as a welcome gift. More on that unprecedented opportunity below.
While it may have the highest rewards for new users anywhere in the market, BingX stands out through its secure and lucrative products, such as copy trading. In fact, BingX is the world’s leading copy trading platform, with over 1,500 active traders you can emulate with just one click of a button.
In this BingX review, we look closely at how copy trading on BingX works and understand the hype around it. Read on to learn more about this world-leading trading platform and crypto exchange!
What is BingX?
BingX was founded in 2018 and quickly developed into one of the top crypto trading services in the world. The platform offers multiple services, including spot, derivatives, copy trading, and grid trading, to traders from more than 100 countries worldwide.
Anyone can join BingX, regardless of skill and experience. The platform provides in-depth educational materials on crypto trading through the BingX Academy to help novice users grasp and improve their trading abilities. Furthermore, it enables elite global traders to build lucrative trading careers on the platform by allowing copiers to follow in their steps. So far, BingX has cultivated over 4 million copy relationships between users from all corners of the world.
As a crypto exchange, BingX lists over 350 cryptocurrencies available for spot trading, one of the largest offerings in the industry. Also, the platform supports over 80% of the world’s most used cryptocurrencies you can purchase and receive within 1 minute. Regarding futures trading, BingX supports short and long positions with leverage and profit of up to 150x from market volatilities.
Since its inception, BingX has worked tirelessly to link crypto traders and copiers worldwide. Its community grew to over 5 million active users in less than five years. Moreover, the platform has won several industry prizes, including the prestigious “Best Crypto Broker/Exchange 2021” award from TradingView.
How to Get into Copy Trading at BingX
You can start copy trading at BingX as soon as you download the BingX app and register on the platform.
Remember that copy trading is a well-known practice allowing users to copy the trades of multiple elite traders and follow in their footsteps, whether it generates profit or loss. BingX has a solid community of over 8,000 elite traders. So, you have a generous array of established traders that you can follow.
Copy trading is ideal for users who want to avoid dealing with the hassle of opening and closing positions and monitoring the market for themselves. Instead, their trades automatically align with the traders’ activities in the market. From there on, the copiers’ fortunes depend on the trader’s skills and movements.
Here’s how to start copy trading at BingX:
- Access Copy Trading
In the app, go to Homepage -> Copy Trading; WEB: Homepage -> Copy Trading.
- Select a trader
Have your pick between a “Trending Trader” and a “Conservative Trader” that the system recommends depending on their past data. You can always click on their avatars to see their past trades in “Share Trading Data” or “Feed.” Additionally, you can click the indicator to see Data Indicator Definition and learn more about each indicator.
- Copy a trader
On the trader’s Homepage, click “Copy Now” and enter Copy Settings. You will find three types of trade copying available:
- Copy by position
- Copy by a fixed margin
- Copy by spot grid
Observe that the Principal type is USDT and VST (Virtual USDT) for copy trading under Standard Futures; USDT for copy trading under Binance Futures and BingX Spot Grid.
You can set “Principal of a Single Trade,” “TP/SL,” “Daily Copy Trading Principal,” and “Max. Position Margin” for copy trading with BingX Standard Futures.
For copy trading with Binance Futures, you can set “Copy Trading Funds,” “Copy trader’s positions immediately,” and “TP/SL.”
Lastly, for copy trading with BingX Spot Grid, you can set “Trading Pair,” “Copy Trading Funds,” and “Copy Trader to Close Grid Parameters.”
- Check copy trading data
You can follow your funds’ activity on “My Trades” via three available options:
Overview: It displays “Today’s Earnings” and “Total Revenue.” Click “Details” to view more data.
Current: It Includes copy trading orders not closed yet.
Copying History: It includes USDT and VST copy trading orders already closed.
5. Edit or cancel copy trading orders
You can always modify or cancel copy trading orders by going to “My Trades” – “Current” and tapping the trader you are copying. Choose “Stop Copying” to terminate the copying manually. Following its cancellation, you will no longer copy the traders’ orders, and the trader will no longer show on your copying list. Existing copied orders will be closed as the trader closes the orders. Click “Edit” to modify “Copy Settings.”
Keep in mind that your orders may be closed or deleverage in the following cases:
- Copy by a fixed margin (Copy Trading with BingX Standard Futures)
Traders: Close a position; TP/SL triggered for the traders’ orders; Traders removed for violation of rules.
Copiers: Close positions manually; Forced liquidation occurs, Stopping copy trading.
Other: The trading pair is delisted.
- Copy by position (Copy Trading with BingX Perpetual Futures and Binance Futures)
Traders: Close a position; TP/SL triggered for the trader’s order; Make a deposit; API deleted; Traders removed for violation of rules.
Copiers: Stop copy trading; Make a withdrawal.
Other: The trading pair is delisted.
How Safe is BingX?
BingX aims to connect crypto enthusiasts with expert traders in a safe, innovative, and 100% transparent environment. The platform is an international financial institution providing digital services with branch offices in North America, Canada, the EU, Hong Kong, and Taiwan. BingX has registered or obtained regulatory approval to operate in numerous other countries and regions where it provides services or carries on any business.
The platform has successfully passed a scrutinous verification by the authoritative global organization Mazars, with PoR certification and a released report. Furthermore, it has partnered with top cybersecurity organizations to ensure the safety of all user operations on BingX.
Lastly, BingX has passed the security audit by the leading security-focused ranking platform CertiK.
Register with BingX and Earn Up to 5,125 USDT
BingX, one of the world’s largest trading platforms, has a new promotion with handsome rewards for new users. Registering on BingX can land you up to 5,125 USDT as a welcome gift, and here’s how to get it:
- Sign up to BingX and get your 30 USDT Rebate Voucher.
- Complete the tasks in the New User Rewards area.
- Claim your rewards.
It’s that simple to start earning on BingX! You should move fast to get your welcome gift, though. This opportunity is limited to only 1,000 new users per day.
After familiarizing yourself with BingX, you can boost your gains with copy trading or dealing with hot assets in spot trading. And, if you have solid trading experience, you can always delve into the platform’s derivatives trading offer.You can learn more about BingX at these links: Website | Twitter | Telegram | Instagram | Reddit | LinkedIn | YouTube | Facebook