Choosing a reputable BingX binary options broker is essential. You want a broker with good liquidity, low fees, and compliance with AML and KYC policies. But if you’re new to trading, how do you know where to start?
Copy trading subsidy vouchers
Amongst the plethora of crypto trading platforms available in the market, BMX is one of the few to offer copy trading subsidy vouchers. This feature allows users to enter and exit popular coin or token positions without risking their capital.
In addition to this, BingX also offers users a complete ecosystem for copiers. Using this feature, successful traders can build their businesses by sharing their trading strategies with others. This technology enables professional traders to generate extra income.
BingX continues to innovate and develop new products and services to ensure a better user experience. The platform recently launched an Intelligent Review System to make it easier for users to blend in. This feature identifies the relevant specifications in advance.
BingX has also updated its mobile trading app to make the whole experience more enjoyable. With the app, traders can easily create and receive trades and view their current positions.
Good liquidity
Whether you’re trading cryptocurrencies or traditional stock and bond markets, you’re sure to be attuned to the sheer volume of trading activity. However, you’ll need to know how to make your dollars go further as a trader. Luckily, BingX provides a host of services that’ll help you navigate the choppy waters. Moreover, the company boasts an impressive 5 million users, making it one of the largest crypto exchanges on the block. Among other features, BingX offers copy trading services in 100 countries, along with derivatives and spot trading.
The exchange has recently unveiled its new institutional liquidity solution, which connects traders and institutions with deep pools of capital. In addition, the business is preparing to introduce more products and services for its growing user base. Lastly, it has a robust security and compliance program, which is good since several jurisdictions, including the United States, highly regulate BingX.
Low fees
Whether you are looking to trade on crypto or fiat, BingX has low transaction fees. They offer a wide range of assets and features, including leveraged trades and copy-trading. They also have a comprehensive support system available 24 hours a day. Traders can access the help center by using the website or calling their customer service team.
If you’re a beginner, the Help Center has resources to help you get started. It has a FAQ section and an essential guide to trading on the platform. The company also offers excellent customer support with live chat.
While BingX has a zero-fee policy on some spot market trading pairs, there is a separate fee for standard contract trading. The contract trading fee is 0.04% daily, depending on the daily spreads.
BingX’s Compliance with AML/KYC policies
Whether you are an employee of a crypto exchange or a new user, it is essential to understand how to comply with AML/KYC policies. These laws and regulations are designed to prevent financial crimes. Failure to adhere to them can result in hefty fines, legal proceedings, and damage to your reputation.
AML compliance programs are a must-have for all crypto exchanges. This is because these exchanges are now operating more like financial institutions. They must pay to register with the relevant regulatory bodies and must also ensure that they implement vital AML programs.
These processes are becoming more complex and costly. They require large teams to carry out verification and monitoring procedures. They are also time-consuming and can result in an error. To avoid a lengthy, expensive, and costly process, firms should consider utilizing automated AML solutions.
Rebranding from Byington
During a recent corporate refresh, Bingbon announced a new logo and a slew of exciting new features. The most significant part, a social trading platform will provide users with a venue to interact with other traders and gain insight into the nuances of their trades.
The company has also introduced a new feature, a copy trading option, allowing users to mimic the strategies of successful investors.
The company has also announced a new partnership with Banxa, a crypto and fiat gateway with high payment and KYC standards, making it a safe place to shop for, buy and sell digital currencies. It is an excellent time to look closely at Bingbon’s latest offerings, as the company is gearing up to make its mark in the cryptosphere.