What Is Pre-Market Trading?
BingX Pre-Market Trading is a new trading mechanism that offers you the chance to trade new tokens over-the-counter (OTC) before they are listed. This provides a space for you to buy or sell promising tokens and get ahead of the game.
Note: Before you start Pre-Market Trading, please read and understand the Scaling Mechanism section in the FAQ.
How to Start Pre-Market Trading on the BingX Website?
Before you begin, ensure you've completed advanced KYC verification. Users in restricted regions won't be able to join Pre-Market Trading.
There are 3 main stages in BingX Pre-Market Trading: project selection, order creation and order delivery.
1. Project Selection
1.1 Log in to your BingX account on the homepage. Then, click "Spot" - "Pre-Market Trading" on the top navigation bar.
View the "Latest Projects" on the Pre-Market Trading page. Look for the project you're interested in and click "Trade".
Visit the project details page to view the list of orders created by buyers and sellers.
2. Order Creation
On the Pre-Market Trading project details page, you can trade as a Maker or a Taker.
Note: When entering the amount of the taker or maker order, make sure to carefully review the project's public information. The "preset total supply" provided by BingX is for reference only. The token amount may be scaled up or down based on the actual total supply announced by the project team during delivery. If you have any questions, please refer to the Scaling Mechanism section in the FAQ.
2.1 As a Taker:
- Browse the list of orders under "Buy" or "Sell". The following illustration shows a buying scenario.
- Select an order that matches your criteria, then click "Buy" or "Sell" to execute the order.
2.2 As a Maker:
- Click "Create Order" and select "Buy" or "Sell". The following illustration shows a buy order scenario.
- Enter your desired price and amount in the pop-up window. Review the order details and amounts below, then click the button at the bottom to confirm.
Note: The order you select must be fully filled; partial fills are not allowed.
2.3 Order Cancellation:
Once an order is filled, it cannot be canceled and you'll need to wait for delivery. For unfilled orders, visit "My Orders" and locate the corresponding order. Click "Cancel Order" on the right panel to cancel it.
3. Order Delivery
The end time and delivery time for the Pre-Market Trading project will be announced before the project goes live for Spot Trading. Keep an eye on the announcements. For any questions about the above timings, please refer to the Key Time Points section in the FAQ.
Note: The token amount may be scaled up or down based on the actual total supply announced by the project team during delivery. The tokens will be delivered based on the “Amount after scaling" shown in "My Orders". If you have any questions, please refer to the Scaling Mechanism section in the FAQ.
3.1 As a Seller
For filled orders, please ensure to deposit the corresponding token amount into your BingX Fund Account before the designated delivery time to deliver your order successfully. If the deposit isn't made before the delivery time, it'll be considered a default and you'll lose the entire collateral for that order.
- Note: Make sure to verify the deposit network and address to prevent asset loss.
- Sellers can complete the delivery at any time before the designated delivery time. Click "My Orders", find the relevant order and click "Deliver".
3.2 As a Buyer
For filled orders, you'll receive the corresponding amount of tokens after the delivery time or earlier if the seller opts to deliver in advance. If the seller defaults, you'll receive the entire collateral for that order.
That's the complete guide to Pre-Market Trading. If you have any further questions, feel free to reach out to our customer support anytime. We're here to assist you.
BingX Operation Team
2024-09-05
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