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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.

Visit Bingbon

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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NinjaTrader Review 2020: Pros, Cons, Fees & More • Benzinga

If you’re on the hunt for the best online brokerage, Ninja Trader is a great fit for both new investors and seasoned traders. Some of the key features in NinjaTrader’s futures brokerage service include:

If you’re on the hunt for the best online brokerage, Ninja Trader is a great fit for both new investors and seasoned traders. Some of the key features in NinjaTrader’s futures brokerage service include:

  • Commissions as low as $.09 per Micro contract
  • Low $400 account minimum
  • Low day trading margins of $500 per contract for E-mini S&P 500 (ES), Nasdaq (NQ) and Dow Jones Industrial Average (YM) stock index futures contracts
  • $1,000 margins for Gold (GC) and Crude Oil (CL) futures contracts
  • Free version of NinjaTrader platform included with all brokerage accounts
  • Three platform license levels with varying feature sets and commission rates

In addition, the broker offers competitive spreads and a high-speed execution service for forex currency pairs.  

Who’s NinjaTrader For?

Futures Traders

NinjaTrader’s brokerage services cater directly to futures traders. It’s the ideal destination for those both active and new, with unlimited free use for advanced charting, market analysis, and simulation trading.

Advanced Traders

NinjaTrader’s state-of-the-art trading platform has a variety of features available across three license levels that allow traders to select the best fit for their trading approach. There are two upgrade feature sets available, Trader + and Order Flow +.

While advanced charting, market analysis, and simulated trading are included free for all users, licensing Trader + or Order Flow + gives you access to premium tools such as an enhanced SuperDOM, an advanced alerting system, semi-automated order execution, volumetric bars, and other sophisticated charting systems.

Active Traders

With commission among the lowest in the industry, traders can keep their costs low on a per contract basis. NinjaTrader’s low margins are also a great fit for active traders. With numerous technical analysis tools available, the trading platform can help users target opportunities and manage execution in volatile markets.

NinjaTrader has their flagship advanced trading platform for Windows-based desktop computers. Other third-party platforms are supported and available by request. If you are a Mac user, you can run the software using a multi-boot utility like Apple Boot Camp.

Source: https://ninjatrader.com/

NinjaTrader features a wide range of technical analysis functions that can be useful for those starting out with demo trading — especially if you want to learn how to trade futures.

The broker uses CQG (Continuum) for order routing by default but also supports order execution through Rithmic. Kinetick is also available as a free end of day market data source for stock, futures and forex data optimized exclusively for use with NinjaTrader’s platform.

If you’re interested in trying out the NinjaTrader platform using futures data, you can register to get a free two-week trial.

A free version of the NinjaTrader platform is included with all funded brokerage accounts and has all the core features needed for live trading, with access to charts, market analysis, and simulated trading.

If you want to access some of its more advanced capabilities, you can either lease the software starting at a quarterly basis or purchase a Lifetime license, which includes free upgrades for life.

The advanced tool sets are where NinjaTrader really shines. For example, sophisticated order types known as automated trade management (ATM) strategies are included in the Trader + feature suite. These consist of a set of specific rules you create to manage a group of stop-loss and profit target orders to operate on all or part of an open position.

NinjaTrader’s third-party developer community, known as NinjaTrader Ecosystem, features thousands of third-party apps and add-ons you can use with its trading platform. From their website, you can use the keyword search and filters to scan hundreds of custom tools and trading indicators built to work with NinjaTrader.

If you have programming skills, you can build compatible software within its advanced C# based development environment.

The NinjaTrader platform provides a high-performance backtesting engine which allows users to test and verify futures trading strategies using historical data. A wide range of useful educational materials are available if you’re unfamiliar with its platform and wat to enhance your skills.

These include daily training webinars designed to educate new users on the powerful tools available, hundreds of on-demand training videos, help guides, and an informative YouTube channel.

[youtube https://www.youtube.com/watch?v=bg4ocBoYrjM]

NinjaTrader’s Commission and Fees

Commission and margin requirements are among the lowest in the industry. A $1,000 minimum initial deposit is required to fund a new account and commissions go as low as $.09 per Micro contract with a Lifetime license. Day trading margins of $500 for ES, NQ and YM contracts, and $400 for GC and CL contracts are also very low.

When it comes to platform fees, the broker’s advanced platform and live data are available free of charge for use in a demo account. For live trading, you can use their free platform with all the basic essentials or choose a paid license level for more advanced features and lower commissions.

If you lease or buy a Lifetime license for the trading platform software, you also gain access to a suite of premium features that include its advanced trading management (ATM) strategic order handling. Traders who purchase a lifetime license also get the Order Flow feature set which comes with free platform upgrades for life.

NinjaTrader’s Security

NinjaTrader is well-regulated in the United States by the National Futures Association and the Commodity Futures Trading Commission (CFTC).

NinjaTrader’s Customer Support

NinjaTrader’s online support team excels in prompt replies with inquiries addressed within 15 minutes during market hours. An active user community interacts directly with the NinjaTrader support team in their User Forum. They also host daily live training webinars, have hundreds of on-demand training videos, and more.

NinjaTrader can be reached by email, phone, and an online support form for customer service. For critical trade issues, NinjaTrader provides direct phone support for brokerage clients. International traders are also directly supported with dedicated Spanish, Russian and German brokerage service teams. 

NinjaTrader’s Tradable Asset Classes

NinjaTrader brokerage offers a basic range of asset classes with a focus on futures trading on the CME, CBOT, NYBOT and Eurex exchanges. You can trade the following asset classes via NinjaTrader:

  • Futures 
  • Forex 
  • CFDs
  • Stocks*

*The platform can also be used through other supporting brokers such as TD Ameritrade or Interactive Brokers to trade stocks.

NinjaTrader’s Ease of Use

After downloading the NinjaTrader platform, it’s best to spend some time on the forum and watch the tutorial videos provided. It may take some time to set-up your ideal dashboard.

While NinjaTrader’s platform is exceptionally customizable and offers numerous advanced features, it may not be considered easy to use when you first download the platform.

Final Thoughts

NinjaTrader is one of the top brokers for futures and forex trading. The unlimited use of its free platform is a great way to get acclimated to NinjaTrader before deciding to trade live.

The free platform is sufficient for new traders with more advanced tools available as need such as semi-automated execution. NinjaTrader’s low commissions and fees, free tools, and an active community forum will work to any trader’s advantage.

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‘Risk On’ Market Update 12/10/20 – Forextraders.com

Markets finished last week firmly in a ‘risk-on’ frame of mind. Stocks, commodities and non-USD currencies all moved into bullish territory in terms of technical indicators. The uncertainty which characterised September’s price moves made way for a more positive outlook in a wide range of asset groups.

Trading Risk Measurement

Markets finished last week firmly in a ‘risk-on’ frame of mind. Stocks, commodities and non-USD currencies all moved into bullish territory in terms of technical indicators. The uncertainty which characterised September’s price moves made way for a more positive outlook in a wide range of asset groups.

Market Update

Stocks – Market News

• Asian markets had a mixed start to the week. The Hong Kong Hang Seng equity index was up 2.29% on Monday, but the Japanese Nikkei 225 was down -0.17%.

The mixed messages from the Asian trading sessions carried into the European open. Asian traders were wise to the risk of following the buying patterns only to find European and American traders taking profits later in the day.

Metals – Market News

  • Price action in gold and silver hints that they could have started one of their breakout patterns. Fans of the metals will be familiar with how both can build momentum and click through price levels on the way to their next target price. The main issue is deciding on trade entry points.
  • As of Monday morning, the price of gold ($1925.22) is where it was on Friday afternoon. Support 1 is at $1921.98, Support 3 at $1917.87.
  • Such price consolidation is a characteristic of the metal and there’s nothing bearish about the indicators.
  • The Hourly SMA has provided support and could be the indicator to watch. The kiss of that line in the early hours of Monday marking the week-to-date low at 1921.66. Price support in that region was also provided by the 23.6% Fib.

Source: FXTM

Energy Commodities – Market News

  • Geo-political risk rather than technical indicators continue to guide the price of crude with Azerbaijan and Armenia engaging in a will-they won’t-they military stand-off.
  • It’s hard to get a clear picture of how political uncertainty will impact price. Still, the increased volatility and price increase of 6.84% last week will be a tempting proposition for many.

Trade of the Week

Last week has been firmly signed off as a successful opportunity to ‘buy-the-dips’. Our desk put on a buy of the US 500 stock index one hour before the European stock markets opened on Monday the 5th of October. With an opening price of 3367.28, it caught the pre-market exuberance and was mostly in positive territory throughout the week. Only trading underwater in the overnight trading of Tuesday evening and Wednesday morning.

Source: IG

In the morning session on Monday the 12th, the total percentage return on the US 500 position is +3.74%. The two-unit purchase trade, put on using IG, generating a profit in cash terms of £244.72 in the space of one week.

Source: IG

The obvious question to ask is whether there is any juice left in the move towards risk. The countdown to the US presidential election has started in earnest. With 22 days until votes are cast, those looking for this week’s trade might have less conviction than the position our desk put on last Monday.

Gold’s role as a defensive asset is not as strong as some would suggest. It’s hard though to look past the metal’s price action, dollar weakness, and the chance that it be seen as some kind of security as the election nears.

A position in gold could be a useful marker. Our buy-in small size for $1923.15 is one for the Demo Account, but it should help keep track of the markets.

Our analysis is based on a comprehensive summary of market data. We use a range of metrics with weighting given to simple and exponential moving averages and key technical indicators.

Any information contained on this Website is provided as general market information for educational and entertainment purposes only and does not constitute investment advice. The Website should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. ForexTraders will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

PAST PERFORMANCE IS NOT ALWAYS INDICATIVE OF FUTURE RESULTS.

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Learn with ForexTB: The battle of the currencies!

What is currency trading?How do currency pairs work?What currency pair is the most popular to trade and why? A few of the most common questions concerning traders when it comes to currency trading!Well, we’ve got all the answers, but first let’s start with some simple explanations and, as we go along, we’ll cover everything around…

An introductory guide to forex trading

What is
currency trading?
How do currency pairs work?
What currency pair is the most popular to trade and why?

A few of
the most common questions concerning traders when it comes to currency trading!
Well, we’ve got all the answers, but first let’s start with some simple explanations
and, as we go along, we’ll cover everything around the currency market.  

Forex trading
(aka. Foreign exchange, duh!), is all
about buying and selling currencies in pairs
. All you need to know is how
much the currency pair is worth. However, it’s not that simple, as these
currency pairs do not always deliver the desirable results to traders.

Before we dive into the trading currency
pairs, let’s see some of the most popular currencies out there. These are:

  1. US Dollar (USD)
  2. Euro (EURO)
  3. British Pound (GBP)
  4. Australian Dollar (AUD)
  5. Canadian Dollar (CAD)
  6. Swiss Franc (CHF)
  7. Japanese Yen (JPY)

Now, let’s see how they look in
pairs according to the category they fit in.
Currency pairs are divided into three categories. The “Majors“, the “Crosses” and
the “Exotics“, each with its own
characteristics.

1. The “Majors”
These currency pairs are always paired
with the U.S dollar
, with EUR/USD
being at the top of the currency pairs table as the most traded currency pair
in the market
. These are:

FXTB2

So why is the EUR/USD pair the most popular and traded pair ever?
Because both currencies represent two of
the biggest economies in the world!
Thus, trading this pair will result to
having tight spreads. And YES, this is a good thing because the lower the
spread is, the lower the fees you pay when you enter a trade.

2. The “Crosses”
These currency pairs do not involve the
U.S Dollar
.

These include and not limited to:

FXTB3

3. The “Exotics” *
These currency pairs include one major
currency
, this being the US Dollar, and one currency from a developing market. Some examples of exotic
currency pairs are:

FXTB4

Something
to note in this category: Exotics tend to be “trickier” in terms of price
fluctuation, due to economic factors. For example: A political result or
scandal in Mexico can cause the USD/MXN price to change unexpectedly!
Therefore… Trade at your own risk, if you’re about to trade with these pairs
(well, you should always be careful when trading)!

So, as we’re approaching to the
end of this useful educational article, it
is advised for less experienced traders, NOT TO trade with multiple currency
pairs simultaneously
! We recommend that you make yourself comfortable whilst trading on a demo account, as this
will make you gain confidence and at the same time potentially achieve better
results! Well, we can’t guarantee that, but you get the gist. Once you’ve mastered currencies, you can
slowly expand you trading abilities and start trading with new currency pairs!

Don’t you agree?

This article was submitted by ForexTB.
For bank trade ideas, check out eFX Plus

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