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Bingbon Review: Cryptocurrency Derivatives Trading Platform

Founded in 2018, Bingbon has established itself as a leading crypto trading platform that empowers retail traders to use crypto derivative contracts. It was founded with the aim to become a pioneer and market leader – Bingbon covers not only digital assets but also other financial instruments, such as FOREX, indices, and commodities.

Founded in 2018, Bingbon has established itself as a leading crypto trading platform that empowers retail traders to use crypto derivative contracts. It was founded with the aim to become a pioneer and market leader – Bingbon covers not only digital assets but also other financial instruments, such as FOREX, indices, and commodities.

Simultaneously, with the integration of advanced features like copy trading and demo trading, Bingbon certainly simplifies the trading and investment experience for investors from all around the world.

Thanks to its efficient and cost-efficient trading mechanism, Bingbon has successfully raised a large user community along with a number of other achievements. So far, there are over 300,000 account members on Bingbon who create around $500,000 of trading volume per day.

Taiwan and Vietnam are among the latest emerged markets on Bingbon, and the platform is on the way to expand its service to other nations on the globe.

Now let’s go to descriptive details about Bingbon’s functionalities and how it supports traders to create returns – while limiting risk.

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Bingbon Features

Bingbon sets itself apart from its competitors by adding more options and products in its list of offerings. Basically, Bingbon offers perpetual contracts with the selection of cross margin and isolated margin.

These should be familiar to most traders and will allow them to place orders confidently. Derivative options on Bingbon capture a wide range of instruments, from cryptocurrencies, FOREX, commodities, and indices, which all are available for traders and speculators to use in any way they want.

  • Cryptocurrencies. Bingbon presents the USDT-denominated contracts in with 12 other popular coins, including Bitcoin, Ethereum, ChainLink, Litecoin, Bitcoin Cash. For Bitcoin and Ethererum, Bingbon specifically provides inverse contracts, which allow users to choose BTC and ETH as the base coin in the contract. The platform is going to add more cryptos into the list to meet the demand of traders.
  • Non-cryptocurrencies. Aside from crypto derivatives trading as the main product, Bingbon offers contracts tied to several pairs of exchange currencies, as well as a variety of spot price speculation on a couple of major commodities, including gold, silver, and crude oil.
  • Bingbon also allows its clients to trade the price movements on many major equity indices. Bingbon members can choose to speculate on eight popular indices – like the S&P500, NASDAQ-100, Nikkei 225 or DJIA. USDT is the default base currency in Bingbon’s non-crypto contracts.

Bingbon has loads of products and is working to add more all the time. Unlike many exchanges, Bingbon works to give its clients crypto and non-crypto products, so they can trade in the macro-environment – without having to move into and out of the fiat financial system.

Bingbon
Bingbon Homepage

Going short cryptos can be a good way to play downside macro risk, but a position against major equity indices could be better. Instead of moving money from one exchange to another, Bingbon has all the products a serious trader needs in one place.

Leverage

Bingbon offers different levels of leverage depending on which contract is being traded.

Contracts on BTC/USDT can use 150x leverage, which ranks top among cryptocurrencies, followed by ETH/USDT contracts that can reach 100x. Leverage limits for other crypto trading pairs often range between 35x and 50x.

FOREX contracts can utilize leverages up to 300x, due to the nature of minor price fluctuation. Meanwhile, the highest leverages for commodities and market indices often hover around 100x. It is important to understand that using leverage must be taken seriously.

Leverage can make a good position pay out huge, but it can also be very damaging to your portfolios if you don’t know how to control risk. Bingbon offers great tools for risk management, and also has a good interface for both new and experienced traders.

Visual, Intuitive Interface

Instead of putting a lot of complexity into its User Interface (UI), Bingbon uses a simple graphic display. We think this will be more familiar to a majority of traders. The headline of the homepage specifies prominent features, including Trade, Copy Trade, Exchange, and Announcements.

For live and detailed market price charts, users can click on the Trade section.

Here they will find an Auto chart with real-time updated statistics and customization power. It is super easy to check on positions, trigger orders, or see the transaction history.

The left pane shows the list of crypto trading pairs available for USDT-based contracts, while the upper right lists a number of commands that allow users to pick their order settings prior to entering a position.

Trading Screen
Trading Screen

For both long and short positions, users can choose either a market order or a trigger limit order. At the same time, they can predetermine Take profit and Stop Loss levels. Relevant indicators, such as actual turnover or loss will be illustrated when the order is executed.

Bingbon’s Trading View chart is apparently much helpful as it allows traders to effortlessly and efficiently manage their portfolios. Moreover, users are free to create support and resistance graphs or insert comments so that it is easier to follow their investments.

When you use leverage, it is very important to use orders to keep your margin balance intact. Leverage of 10x means that if your position loses 10% of its value, the margin you are using to keep the trade open will be wiped out.

Traders can use limit orders to prevent this and choose to sell the position with smaller losses. It might seem painful to sell with losses, but selling with smaller losses is better than being wiped out.

Bingbon also offers instant spot trades
Bingbon also offers instant spot trades

Automated Copy Trading

Copy trading is pretty new, and not many crypto exchanges allow their clients to use this great feature. With copy trading, Bingbon allows users to look up successful traders, follow them, and copy their trading strategies.

All statistics related to the lead traders, such as profit rate, trading record, and the number of followers can be viewed on their profile so that users can find and rely on credible guides.

In addition, Bingbon provides extra tools for users to effectively control their copy trades. They can predefine a limit for the daily value amount of copy trade, so as to reduce risks and better manage potential losses.

Bingbon Copy Trading
Bingbon Copy Trading

Demo Trading

This is another stunning feature offered by Bingbon. The platform stimulates a virtual coin called VST, with 1 VST equal to 1 USD. Upon a complete registration, a member will automatically get 100,000 VST, which is used to run demo trading on Bingbon.

With these VSTs, users can conduct stimulated transactions on Trading View. It is a fast and harmless way to get used to the exchange and trading derivatives. Leveraged trading in the crypto markets can be very profitable, but it is important to make sure and understand how it works before using real tokens.

Deposits: Coins & Fees

Bingbon supports deposits via 5 coins, which are BTC, ETH, USDT (ERC-20 and Omni), USD Coin. Regarding fee, a fixed rate of 0.075% is charged upon each position opening. Extra fees might be applied for keeping positions open, and a small withdrawal fee is charged, varied by each crypto.

Mobile Application

Bingbon has already created mobile versions for iOS and Android. That means users can easily download and install an app on their mobile, then enjoy crypto derivative trading anytime and anywhere.

Credit and Competition

Bingbon has targeted a niche crypto derivative segment with great tools for traders who don’t want to switch back and forth between cryptos and fiat.

It strengthens its reputation by coordinating with SlowMist, a cybersecurity firm, and has initiated a bug bounty program on its platform. Bingbon is working to keep users’ accounts protected and avoid any hacks that could lead to losses.

However, Bingbon still faces the battle against some other exchanges with high capacity and leverage, such as Binance Futures, bitMEX, Huobi or Bybit.

It is worth looking at all the features an exchange offers so that you trade with the best provider for your needs.

Conclusion

With multiple products, automated trading, amazing demo trading, Bingbon users can learn to trade and boost their skills. Despite being a relatively new player in the global derivatives market, Bingbon shows the potential to become a leader in crypto derivatives trading.

If you are looking for an exchange that allows you to trade in most of the major tokens, as well as a number of other macro markets.

Visit Bingbon

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Donald Trump blasts ‘fools’ who oppose good Russian ties

US President-elect Donald Trump has posted a progression of tweets censuring the individuals who contradict great relations with Russia as “‘dumb’ individuals, or nitwits”.

Mr Trump promised to work with Russia “to comprehend a portion of the numerous… squeezing issues and issues of the WORLD!”

His remarks came after an insight report said Russia’s leader had attempted to help a Trump race triumph.

Mr Trump said Democrats were to be faulted for “gross carelessness” in permitting their servers to be hacked.

In a progression of tweets on Saturday, Mr Trump said that having a decent association with Russia was “no terrible thing” and that “lone “idiotic” individuals, or simpletons, would believe that it is awful!”

He included that Russia would regard the US increasingly when he was president

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Bulls and Bears Took on More Currency Exposure in Week Through January

he most striking improvement among theoretical situating toward the finish of a year ago and the primary session of 2017 is not that modification were little. There was just a single gross theoretical position modification of more than 10k contracts. With sterling apparently not able to maintain even humble upticks, the bears added 13.1k contracts to the gross short position, lifting it to 120.2k contracts.

Or maybe, it is eminent that examiners for the most part added to positions, long and short, as opposed to close positions at the very end of the year. Examiners added to net long outside cash prospects positions, aside from in the Japanese yen and Swiss franc where 2.6k and 2.5k contracts were exchanged separately. Examiners likewise added to gross short positions. Here there was just a single exemption, the Japanese yen. Despite the fact that the dollar shut comprehensively higher in front of the end of the week, every one of the monetary forms we track here, spare the Mexican peso, picked up against the dollar in the three sessions since the finish of the CFTC reporting period.

Every once in a while it is helpful to review why many market members take a gander at the theoretical situating in the cash fates advertise. It is not that the outside trade is essentially a prospects showcase. It is principally an over-the-counter market in which every day turnover midpoints in abundance of $5 trillion a day.

Trade exchanged monetary forms and alternatives represented around 3% of the normal day by day turnover as indicated by the BIS study. Be that as it may, past reviews have discovered some contemporaneous connection between’s market heading and net position changes. We think it additionally offers knowledge into a specific market section of pattern supporters and energy brokers. It is not by any means the only device, yet one of a few data sources.

One ramifications of this is albeit theoretical positions in the money fates market are moderately extensive, it is still little contrasted and the money showcase. Along these lines, it is difficult to see the genuine essentialness of a record vast position, as though there is some market top. At some point, examiners are not driving the costs, possibly there is another fragment, national banks, enterprises, as well as genuine cash that is more essential at any given minute.

We invest some energy taking a gander at gross positions instead of just net theoretical positions, which is the more customary approach. We think a more granular look is frequently fundamental. There is a distinction between short-covering, for instance, and new purchasing, however it appears to be identical in the net. Additionally, the gross position is the place the introduction is not the net position. A net position of zero does not mean the market is nonpartisan. Net positions could be huge, which implies a short press or a negative stun could in any case troublesome. The positions that must be balanced are captured in the gross measure not the net figure.

We find numerous customers are likewise keen on theoretical situating in the US Treasuries and oil. The net and gross short theoretical Treasury position has swelled to new records. The bears added 23.8k contracts to the as of now record net short position, lifting it to 616.2k contracts. The bulls attempted to pick a base and added about 20k contracts to the gross long position, which now remains at 471.2k contracts. These modification prompted to a 3.8k contract increment in the net short position to 344.9k contracts.

The bulls delayed in the oil prospects toward the finish of 2016. They exchanged short of what one thousand contracts, leaving 608.1k gross in length contracts. The bears added 4.1k contracts to the gross short position, giving them 168k. These conformities trimmed the net long position by very nearly 5k contracts to 440.1k.

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3 ways to profit in the ‘year of the dollar’

In December, the Federal Reserve raised loan fees for the second time since the Great Recession and included the desire of a 2017 financing cost climb to its gauge. Furthermore, only a couple days prior, the abundantly anticipated minutes from the most recent Fed meeting demonstrated the most hawkish tone from the national bank in two years.

In the meantime, Europe has been dove into political turmoil after a year ago’s Brexit vote and the later abdication of Italy’s leader. Somewhere else, the Bank of Japan proceeds down the way of negative rates and forceful security purchasing.

Put it all together, and it isn’t astounding that the U.S. Dollar Index is up against 14-year highs.

Speculators may have missed so much discussion on account of babble about the Dow Jones Industrial Average at the end of the day almost hitting 20,000. Be that as it may, paying little respect to your assignment to stocks or your venture skyline, this sort of huge picture incline in the dollar implies right now is an ideal opportunity to position your portfolio to benefit and, maybe most critical, to keep away from a portion of the pitfalls that can originate from a solid local cash.

Here are a couple ideas dollar exchanges ought to consider:

Residential plays over multinationals

There’s a considerable measure of seek after shopper stocks in 2017 on account of an enhancing work market and any desires for a jolt under a GOP-controlled Congress and President Donald Trump. In any case, remember that not all retailers are made equivalent especially those with abroad operations that are adversely affected by the wide dissimilarity in monetary standards at this moment.

For example, retailer Wal-Mart Stores Inc.(WMT) said troublesome money trade rates shaved very nearly 2.5% off profit for each partake in the second quarter of 2016. On the other hand consider that in the monetary final quarter of 2016, athletic attire goliath Nike Inc.(NKE) saw its income development cut down the middle because of forex weights, from 12% year-over-year in consistent cash measures to only 6% including real money changes.

To take advantage of the “reflation” exchange that numerous financial specialists are counts on in 2017, you need to represent the headwinds that a solid dollar are making for multinationals at this moment. The most ideal approach to do that is to consider customer plays that do by far most of their business here in the U.S. – for example, Foot Locker Inc.(FL), which has been an uncommon splendid spot in retail throughout the most recent couple of years.

Supported money ETFs

Obviously, in the event that you need a steady portfolio, you can’t just purchase just local centered values. Geographic expansion is similarly as imperative as enhancement crosswise over parts and resource classes. Such a large number of financial specialists keep on holding worldwide plays in light of a legitimate concern for a balanced portfolio, regardless of the possibility that it implies battling a daunting struggle as a result of a solid dollar.

The uplifting news, notwithstanding, is that you don’t need to leave yourself to torment through a solid dollar and a powerless euro when you put resources into Europe. Nor do you need to stress over the yen-dollar conversion standard when you put resources into Japan. That is on account of there’s an entire group of cash supported ETFs to permit financial specialists to put their cash in outside business sectors yet keep away from forex issues.

Consider that Japan’s Nikkei 225 file is up around 25% from its July 2016 lows. The WisdomTree Japan Hedged Equity Fund(DXJ) is up 35% in a similar period on account of assurance from forex issues and a somewhat better-performing rundown of stocks – while the non-supported iShares MSCI Japan ETF(EWJ) is up only 10% in a similar period because of battling a difficult task against a solid dollar.

In the event that you need to differentiate your portfolio comprehensively, you ought to consider supported assets that incorporate the Japan-centered DXJ, the WisdomTree Europe Hedged Equity Fund(HEDJ) to play Europe or the iShares money Hedged MSCI EAFE ETF (HEFA) for developing markets.

Dollar list ETF

In the event that you are searching for an immediate play on a rising dollar as opposed to putting resources into stocks, figuring out how to exchange remote trade can appear like an overwhelming undertaking. Gratefully, there’s the PowerShares DB US Dollar Index Bullish Fund(UUP).

This ETF is attached to the U.S. Dollar Index, which is a measure of the greenback against a wicker container of other worldwide monetary standards including the yen and the euro. It’s a straight money play, however that doesn’t make it straightforward or hazard free. In the event that the dollar debilitates, you’ll lose cash similarly as though you’re putting resources into a stock that has fallen on difficult circumstances. Furthermore, obviously, PowerShares takes a little cut of your speculations en route that indicates 0.8% yearly, or $80 a year on each $10,000 contributed.

Still, in the event that you need to conjecture on the dollar or support against a solid U.S. cash keeping down other worldwide ventures on your rundown, it’s maybe the least demanding approach to do as such for generally financial specialists.

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