Copy trade crypto reddit.
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BingX Overview.
BingX is a top crypto exchange that is designed for beginner and advanced investors and traders alike. The exchange features a built-in social trading feature that allows users to subscribe to their favorite active trader, and automatically copy the trades placed for a nominal fee. The exchange is full-featured and provides investors and traders with spot and derivative markets where over 250 cryptocurrencies can be bought, traded, and sold.
BingX offers a simple convert feature that allows new users to quickly swap one crypto for another. But advanced users can also take advantage of the trading platform, offering advanced charting tools, live order books, multiple order types, and even a grid trading bot. In addition, BingX offers standards and perpetual futures trading with up to 125x margin, as well as a demo trading environment, complete with demo currencies to place trades with.
BingX offers several notable features, including:
A copy-trading feature where beginners can follow successful traders. Fees under 0.2% per trade. Convert feature to quickly swap between crypto. 266 crypto available to trade (and more are being added). New user rewards for trading activity (up to 100 USDT). Trading competitions with prizes. Commodities and Forex markets are available.
Exchange Name BingX FIAT Currency None (USD, AUD, is copy trading illegal EUR and others available via third-party) Cryptocurrency 266 Payment Type Cryptocurrency, bank account, credit/debit card via third-party Trading Fee 0.05% - 0.2% Deposit Fee None Withdrawal Fee Crypto withdrawal fees vary by currency Mobile App Yes.
Review of BingX - Quick Verdict.
For serious crypto traders, BingX is a good option with its variety of markets to buy, trade, aplikasi copy trading crypto terbaik and sell crypto. The margin and derivatives platform allow users to speculate across hundreds of pairs, or simply choose to copy-trade the best traders on its social trading platform. Either way, BingX is a professional and feature-rich platform with rock-bottom fees of under 0.2% per trade.
BingX Pros & Cons.
BingX is a global crypto exchange that offers social trading features, low fees, and an intuitive mobile app. It also offers a wide selection of crypto, as well as leveraged trading. The downside of BingX is that users cannot deposit fiat currency for trading. Moreover, there are no earn features offered, including lending and borrowing or a crypto staking platform.
A copy-trading feature where beginners can see and copy the trades of other users. An economical crypto trading platform with maximum fees of 0.2%. Derivatives and leveraged margin markets (up to 125x). 24/7 live chat support.
No fiat currency support for trading (third-party purchases only) Limited information on asset cold storage and security measures. Crypto-to-crypto transactions are limited to USDT trading pairs.
What is BingX?
BingX is a Singaporean-based crypto exchange that offers unique trading features and a great selection of cryptocurrencies. Founded by a team of financial and development professionals from the banking and tech industry, BingX was originally known as BingBon, but changed its name to BingX in a full-scale rebrand after the crypto exchange shutdown in 2020.
The exchange is designed for both beginners and advanced traders alike , offering simple order forms and an advanced trading platform. BingX is the world’s foremost Copy Trading crypto platform, with over 1,000 active traders for users to copy with the click of a button. It also offers a comprehensive derivatives market, with the ability to trade crypto futures, as well as indices, commodities, and Forex. BingX offers trading on the go with both Android and iOS mobile apps.
Is BingX Safe?
BingX is highly regulated in the jurisdictions where it provides crypto products and services, complying with Anti-Money Laundering (AML) and Know-Your-Customer (KYC) policies. Based on our research, BingX has not suffered any security hacks or breaches that have resulted in the loss of user funds or assets.
BingX Top Features.
Copy Trading.
BingX offers users the ability to copy the trades of "elite" traders on the platform, automatically executing trades on users' accounts that follow the trader they select. With over 1,000 active traders to choose from , users can quickly find someone that has a trading style they want to emulate. BingX copy-trading feature has high usage and is very well developed which makes BingX stand out from most other crypto exchanges. In fact, based on our reviews, it one is of the best crypto social platforms with copy-trading features to learn and follow the top performers.
Users can quickly browse through hundreds of active traders and see their number of followers, 30-day returns (ROI), and risk level (rated from 1 to 5). Upon selecting a trader, users can view a breakdown of profit and risk for the traders, as well as a live feed of their most recent communication with followers. There is also a trade history available to see all the activity of each trader and what types of trades they are placing.
Screenshot of the BingX copy trade function.
Expert traders execute trades either on the BingX Futures platform or with partner Binance, utilizing API keys for Binance integration. There are also traders that utilize the spot grid trading bot and allow users to copy their grid trades as well. For users that want to apply to be copy-trader themselves, there is an application form available. Approved traders receive 8% - 10% profit share from sharing trades on the platform.
Overall, the Copy Trade is one of the coolest features of the BingX exchange. It is very popular and more well-rounded compared to other social trading apps. BingX offers a well-organized user interface and reasonable trading fees.
A Large Crypto Selection (Bitcoin and others)
BingX supports over 250 cryptocurrencies for trading , including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Solana (SOL), and XRP (Ripple). Everyone’s favorite meme coins are supported as well, including Dogecoin (DOGE) and Shiba Inu (SHIB). There are also many small-cap coins available, including many DeFi, NFT, Metaverse, and Web3 projects.
All trading assets available are paired with USDT , though there are several other stablecoins available on the platform. This makes it a bit more difficult to trade between different crypto, as users will need to convert to USDT to trade.
While the selection of trading pairs is fairly large, the lack of altcoin pairs against Bitcoin and Ethereum (or other stablecoins) makes it a bit more cumbersome to swap between cryptocurrencies.
Derivatives Trading.
BingX offers a comprehensive crypto margin platform with derivatives and futures available at up to 125x leverage. There is also access to futures trading of indices, commodities, and even Forex. Users can choose between standard derivatives, and perpetual futures, which is a crypto-specific trading product.
On the standard derivatives platform, users can trade crypto with up to 125x leverage , as well as other assets with varying leverage amounts. Both long and short positions are available, and users can place market or trigger orders (similar to limit orders). Users can also practice trading with VST demo trading.
On the perpetual futures platform, users can still place limit and market orders, as well as enter long or short positions, but there is also the choice between isolated and cross margin available.
While not the best crypto margin platform for derivatives trading, users can access huge leverage, trade more than just crypto, and view detailed TradingView charts. The platform layout is fairly intuitive, and users can quickly see open positions and up-to-the-second profit and loss details.
Grid Trading.
Grid bots have become popular in the past few years, and BingX has built in the ability to create your own. Available as a spot trading feature, grid trading allows users to set a "high" price and a "low" price for specific crypto, choose how many "grids" to create (between 2 and 200), and activate the bot.
The bot will then place trades automatically , buying the price near the lower end, and selling as the price rises to capture profit along the way. Each grid line represents a buy or sell point, and the bot places those limit trades in advance so they automatically execute.
Grid trading offers both automatic mode and manual mode, allowing users to create a bot with a single click, or adjust their own settings to customize the bot. There are no additional costs to use the Grid Trading feature.
In short, the grid bot offers a few simple settings and is available at no extra cost to exchange users. This is a great feature that usually requires a 3rd party tool, so it’s nice to see it built into the exchange. It would be nice to see the grids visually represented on the chart and a greater selection of bots to compete against the best crypto trading bot platforms.
VST Trading (Demo Trading)
For users that want to practice Futures trading without risking their own funds, BingX offers a crypto demo trading feature using their own virtual currency, Virtual USDT (VST). 100,000 VST are deposited upon account creation, and users can use the VST to practice trading in the standard futures trading platform. VST carries no value, and cannot be exchanged for any other currency, or withdrawn from the platform. It is strictly used for demo purposes.
The demo mode is handy for users that are just learning futures trading, which is a more advanced trading feature. We were able to quickly place trades using the VST funds within the account, and watch the unrealized profit and loss in real-time.
BingX Compared.
BingX offers a lot of features for advanced traders, plus a simple order form for new users. The exchange carries some of the lowest fees in the industry as well. Check out the comparison table below to see how BingX stacks up against some of the best crypto exchanges on the market.