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BingX Trading Signals - TU Expert review

Updated: October 14, 2023
Mikhail Vnuchkov
Contributor
Opinions expressed by Traders Union Contributors are their own.
Reviewed by
Olga Shendetskaya
Editor
Official BingX
website Full BingX
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BingX Fees and Minimum Deposit

Table of Contents

  • Intro
  • Short introduction
  • Pros and cons
  • What are trading signals?
  • BingX Trading Signals
  • Conclusions
  • FAQs
Editorial Note: While we adhere to strict Editorial Integrity, this post may contain references to products from our partners. Here's an explanation for How We Make Money. None of the data and information on this webpage constitutes investment advice according to our Disclaimer.

Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of BingX trading signals. You will learn what kinds of trading signals BingX offers and what the conditions for using them are.

Short introduction of BingX

BingX exchange was established in 2018 and is one of the largest international platforms for trading cryptocurrencies. The exchange provides you with an opportunity to trade in the spot market; there is conversion and grid trading and also standard and perpetual futures. BingX provides services in 100 countries; users can trade Bitcoin and all major altcoins; there is no exchange with fiat money (but there is USDT, which is tied to the US dollar). The exchange awards several starting bonuses, including no deposit bonuses. A social trading platform with transparent rating is a special advantage of the exchange. It is a simple and effective method for earning passive income for novice investors.

💰 Account currency: BTC, ETH, USDT, USDC
🚀 Minimum deposit: 1 USDT
⚖️ Leverage: 1:1
🔧 Instruments: Market
💹 Margin Call / Stop Out: No

BingX Pros and Cons

👍 Advantages of trading with BingX:

•BTC, and also ETH, USDT, XRP, DOGE, BNB and other popular altcoins are available for trading.

•Clients can trade in the spot market, and earn on conversion and grid trading.

•The exchange offers passive income options through the social trading platform.

•Some of the lowest fees in the market (the average daily spread is 0.04%).

•Simple, user-friendly mobile app with a trading platform based on TradingView.

•The company is officially registered in the US, Canada, Australia and EU (Estonia).

•Customer support works promptly in the 24/7 mode.

👎 Disadvantages of BingX:

•No leverage is offered for spot trading, traders have to rely on their own funds.

•With low trading fees, some withdrawal fees are rather high (for example the fee is 20 USDT for USDT-ERC20).

•Customer support is available via email and live chat, but the broker does not have a call center.

What are trading signals?

Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.

A broker can provide signals in several ways:

  • Copy trading.

  • Email alerts.

  • Signals through a blog on the website.

  • Recommendations of a personal manager, etc.

When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.

BingX Trading Signals

Information

The trading fees in the spot market are 0.050% for maker, and 0.100% for taker. The trading rate is 0.075% (with discount – 0.045%); the rate for copy trading is the same (but even lower with the discount – 0.0375%). The calculation of the trading fee is based on the following formula: trading volume x trading fee rate (one time). The average spread is 0.04% or 0.1% depending on the pair. Where there is a spread in long/short position, the fee for standard contract is calculated this way: Current price x (1 + Spread Ratio). Deposit fee is not charged; withdrawal fee depends on the withdrawal option.

Account type Spread (minimum value) Withdrawal commission
Standard From 4$ Yes

Conclusion

Based on the results of the analysis, Traders Union analysts have concluded that BingX does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.

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FAQs

Are there fees charged for trading signals?

Yes. As a rule, the fee is charged as a markup to the spread, or it could be a subscription fee, or a percentage of the profit, etc.

Can trading signals be provided for free?

Brokers may offer free and paid trading signals.

Can I test signals on a demo account?

If you mean copy trading, it depends on the broker. If the signals are provided as a newsletter or notification, you can decide where and how to test them yourself.

Team that worked on the article

Mikhail Vnuchkov
Mikhail Vnuchkov
Author at Traders Union

Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.

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Olga Shendetskaya
Olga Shendetskaya
Author and editor at Traders Union

Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.

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