BingX launches P2P crypto trading in MENA and Türkiye
“By expanding into the MENA and Türkiye markets and offering zero-fee P2P trading, we aim to create a dynamic trading environment that caters to the unique needs of local users and merchants.”
BingX has introduced Peer-to-Peer (P2P) trading services for multiple MENA region and Türkiye fiat currencies, including AED, DZD, EGP, JOD, KWD, QAR, SAR, MAD, and TRY.
The launch of P2P trading in these markets is aimed at fostering greater accessibility and convenience for users seeking to purchase cryptocurrencies with their local fiat currencies.
“A dynamic trading environment that caters to the unique needs of local users and merchants”
BingX offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide. Merchants and users in the MENA region and Türkiye can now engage in direct cryptocurrency transactions with zero transaction fees, according to BingX, which already offers P2P trading services in over 40 countries and regions with support for 300+ payment methods.
In addition, and as part of a limited-time offer, the company is offering merchants the ability to apply with zero collateral requirements, where they will be eligible for exclusive benefits during the initial phase of their partnership with BingX. Users will be rewarded based on their trading volume.
Elvisco Carrington, PR and Communications Director of BingX, commented: “We are delighted to introduce our P2P trading services with more accessibility for all users. As we continue to enhance our platform’s offerings, we are committed to providing our users with professional, secure, and cost-effective trading solutions. By expanding into the MENA and Türkiye markets and offering zero-fee P2P trading, we aim to create a dynamic trading environment that caters to the unique needs of local users and merchants.”
BingX milestones in 2023 include entering MENA and MetaTrader 5
BingX first announced its entry into the Middle East and North Africa (MENA) region in June 2023 with the goal of looking to collaborate with local partners via the BingX Partner Program. Through this program, local partners benefit from a competitive commission ratio higher than industry standards.
Earlier this year, BingX became one of the first crypto platforms to connect with MetaTrader 5, the world’s most popular trading platform, second only to MT4, particularly in the world of Forex and CFDs. Unlike MetaTrader 4, MT5 is truly multi-asset and supports stocks and futures trading.
MT5 offers advanced features such as more technical indicators, depth of market (DOM), and the ability to trade on multiple exchanges. It is also designed to support automated trading systems and allows traders to develop their own trading robots and custom indicators.
BingX tapped MT5 to further optimize the trading process with cutting-edge innovation from traditional finance and provide users with a more comprehensive and user-friendly trading experience. The connection to MT5 allows BingX users to easily activate the BingX MT5 account and trade futures straight from MT5’s interface and leverage tools for greater convenience and accessibility.
Orders placed on MT5 will be updated in BingX’s order book. Users can expect safe and stable trading experience on cryptocurrencies like BTC and ETH with more advanced analysis tools for quantitative trading and customised functions. And most risks will be eliminated by quick access to up-to-date market information. Meanwhile, this integration also opens a door for forex traders on MT5 to crypto world so that they could easily start to try.