How to open a BingX contract account

To commence contract trading on BingX, it is paramount to establish an account by registering via their website, providing personal data, and depositing funds to activate the contract trading feature.

Dec 01, 2024 at 02:42 am

How to Open a BingX Contract Account: A Comprehensive Guide

Step 1: Create a BingX Account

To begin trading contracts on BingX, you must first create an account. Visit the BingX website (https://bingx.com/) and click on "Sign Up" in the upper right corner. Provide your email address, create a password, and complete the CAPTCHA verification. Once you've verified your email address, you can proceed to the next step.

Step 2: Complete KYC Verification

In order to ensure the security and compliance of your account, BingX requires all users to complete KYC (Know Your Customer) verification. This process involves providing personal information such as your full name, date of birth, and country of residence. You may also be asked to upload a copy of your government-issued ID or passport. BingX will review your KYC information and approve your account within 24 hours.

Step 3: Fund Your Account

Before you can start trading contracts, you need to deposit funds into your BingX account. BingX supports a variety of payment methods, including credit/debit cards, bank transfers, and cryptocurrencies. To deposit funds, click on "Assets" in the top menu bar and select "Deposit." Choose your desired payment method and follow the instructions.

Step 4: Activate Contract Trading

Once your account is funded, you need to activate contract trading. Click on "Derivatives" in the top menu bar and select "Contract Trading." Read and accept the BingX Terms of Service and Risk Disclosure Statement. You can then click on "Open Contract Account" to activate contract trading.

Step 5: Choose Your Contract Type

BingX offers a variety of contract types, including perpetual contracts, futures contracts, and options contracts. Each contract type has its own unique characteristics and risks. Before you start trading, it's important to understand the different contract types and choose the one that's right for you.

Step 6: Place Your Trade

Once you've chosen your contract type, you can place your trade. To place a trade, click on the "Trade" button on the contract page. Enter the contract amount, leverage, and stop-loss/take-profit orders. You can also choose to buy (long) or sell (short) the contract. Once you've entered all the necessary information, click on "Place Order" to execute your trade.

Step 7: Monitor Your Trades

Your open trades will be displayed in the "My Orders" section of the contract page. You can view the current status of your trades, as well as any profit or loss you've made. You can also modify or close your trades at any time.