BingX launches subsidy vouchers to cover user losses in copy trading
“With the introduction of copy trade subsidy vouchers, new users can easily try out trading strategies without incurring losses.”
BingX has introduced copy trading subsidy vouchers in an effort to help users protect themselves from potential losses.
The social trading platform within the crypto space sees its copy trading service as an invualuable tool for inexperienced users to automatically copy positions opened and managed by other selected individuals.
This enables users to trade beyond their level of expertise while empowering proficient traders to earn extra income by helping copiers.
BingX’s vouchers will compensate any losses in the copy transaction
The copy trading subsidy vouchers can be used to cover traders’ losses. As long as the user activates the copy trading subsidy vouchers, BingX will compensate any losses in the copy transaction (within the denomination of the card and coupon).
This voucher works as a safety net and allows users to enter and exit positions with popular coins like BTC, ETH, MATIC, LUNC, OP, STG, PSG, ADA, SHIB, DOGE, CHZ, and IDO without the fear of incurring losses on their trades.
Elvisco Carrington, PR and Communications Director, BingX said: “Copy trading is our unique product offering and we are always looking to improve beginners’ trading experience. With the introduction of copy trade subsidy vouchers, new users can easily try out trading strategies without incurring losses. By pioneering new products that directly benefit traders, BingX can maintain its record for innovation.”
The crypto social trading platform offers spot, derivatives, and margin trading services. The firm has recently released version 3.14.0 of its mobile trading app for iOS and Android. The latest version also includes a new feature in the Standard Futures section for viewing the trader’s current position, further improving the trading experience.
BingX goes zero-fee on crypto spot trading
Earlier this month, BingX announced the launch of zero fees on spot trading, effectively allowing customers to open maker, taker, and grid robot transactions without paying spot trading fees. The new feature would run indefinitely until further official notice is announced by BingX.
BingX’s free spot trading is the latest example of how crypto platforms are offering discounts or eliminating fees to attract individual investors. This is perceived as a shot across the bow for rivals who often eat off of high costs paid by retail customers.
With such moves, BingX joins giant apps like Binance and Robinhood to inspire other platforms to reduce at least some trading emoluments to zero. Collectively, they ignite a race to the bottom in the crypto world that is now set to play out over the coming months and years as well.
To compensate for zero commissions, some brokerages channel their clients’ uninvested money into banking products, while others route customer orders to market makers in a practice known as payment for order flow.