How to enable leverage on BingX mobile version

How to Enable Leverage on BingX Mobile Version

BingX, a leading cryptocurrency exchange, offers leverage trading, allowing traders to magnify their potential profits (and losses). Enabling leverage on BingX's mobile version is a straightforward process that can be completed in a few simple steps.

Prerequisites:

• Create a BingX account and complete the KYC verification process.
• Fund your account with cryptocurrency or fiat currency.

Step 1: Access the Trading Terminal

• Launch the BingX mobile app and log into your account.
• Navigate to the "Markets" tab at the bottom of the screen.
• Select the trading pair you wish to trade with leverage.

Step 2: Select the Leverage Level

• Tap on the "Trade" button to open the trading terminal.
• Locate the "Leverage" section on the right-hand side of the screen.
• Select the desired leverage level from the drop-down menu. Options may range from 1x (no leverage) to 125x, depending on the trading pair and your account settings.

Step 3: Adjust (Optional) Additional Settings

• Margin Mode: Choose between "Cross Margin" (margin borrowed across all positions) or "Isolated Margin" (margin borrowed only for the specific position).
• Max Leverage: Set the maximum leverage you wish to use for this trading pair. This serves as a safety measure to prevent excessive leverage.

Step 4: Confirm and Begin Trading

• Carefully review the leverage settings to ensure they meet your risk tolerance and trading strategy.
• Check the collateral required for the selected leverage level.
• Tap on the "Confirm" button to enable leverage and start trading.

Note:

• Leverage can significantly amplify your profits, but also your losses. Always trade responsibly and within your risk appetite.
• BingX recommends starting with a low leverage level and gradually increasing it as you gain experience and confidence.
• Monitor your positions closely and adjust leverage accordingly based on market conditions.