Last updated in October 2024 and will be updated periodically.
What Is BingX 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.
Key Advantages of BingX Pre-Market Trading
Early Opportunities: BingX Pre-Market Trading lets you trade promising tokens before they are officially listed, offering you early access to trading opportunities.
Real Trades: Engage in trades directly with buyers or sellers in a genuine peer-to-peer environment where you can freely choose from available buy and sell orders.
Flexible Creation: Whether you're a buyer or a seller, you can set your trade prices and amounts based on your preferences. You can even trade as both a buyer and a seller at the same time.
Secure Mode: When buyers and sellers create an order, the relevant order values are frozen to ensure that every trade is 100% backed by funds to reduce the risk of failed trades.
How to Use BingX Pre-Market Trading?
Check out the step-by-step guide here: BingX Tutorial | How to Get Started With Pre-Market Trading
Key Time Points in BingX Pre-Market Trading:
-
Pre-Market Trading Start Time: The time where you can begin placing a maker or taker order for Pre-Market Trading of the respective project.
Deposit Time: The time where you can begin depositing the corresponding tokens into your BingX Fund Account for Pre-Market Trading delivery. - Scaling Time: Once the Pre-Market Trading project team announces the actual supply, BingX will scale up or down the token amount and the price per token for all orders based on the scaling ratio. For detailed rules, please refer to the "Scaling Mechanism of BingX Pre-Market Trading". After the scaling time, all created buy and sell orders will show the scaled token amount and price. Your filled orders in "My Orders" will also reflect the scaled token amount and price.
- Pre-Market Trading End Time: After this time, you will no longer be able to place or create orders for the respective project in Pre-Market Trading. Additionally, all your unfilled orders will be automatically canceled.
- Spot Listing Time: You can trade the corresponding token in Spot Trading after this time.
- Delivery Time: This is the "designated delivery time", which typically occurs 3 to 6 hours after the Spot Listing Time (with any special circumstances following the announced schedule). This gives sellers time to get their tokens ready for delivery. The system will deliver the tokens after this time. If there are insufficient tokens in the seller's Fund Account, their entire collateral will be forfeited to the buyer.
Scaling Mechanism of BingX Pre-Market Trading:
- Preset of Project's Total Supply: Some Pre-Market Trading projects may not announce the tokenomics yet, so their total supply is unknown. BingX will preset a total supply based on publicly available information of the project. This preset total supply is for reference only. Please consider your own estimated market cap to evaluate the token's price.
- Actual Token Circulating Supply Scaling: Once the project announces the tokenomics, BingX will scale up or down the price and amount of your orders based on the actual total supply proportionately. The order value will remain the same. Details are as follows:
- Scaling Ratio = Actual Total Supply : Preset Total Supply
- Price Per Token After Scaling = Initial Price Per Token / Scaling Ratio
- Amount After Scaling = Initial Order Amount * Scaling Ratio
- Total Order Value After Scaling = Total Order Value Before Scaling
- For Example:
When Project A was listed on BingX Pre-Market Trading, its tokenomics had not been announced yet. BingX has preset the total supply at 1,000,000,000 tokens.
User A purchases 2,000 tokens at a price of 0.2 USDT, with a total order value of 400 USDT. When Project A announces its tokenomics:
|
Actual Total Supply
|
Scaling Ratio
|
Price Per Token After Scaling
|
Amount After Scaling
|
Total Order Value After Scaling
|
|
250,000,000
|
1:4
|
0.8 USDT
|
500
|
400 USDT
|
|
500,000,000
|
1:2
|
0.4 USDT
|
1,000
|
400 USDT
|
|
1,000,000,000
|
1:1
|
0.2 USDT
|
2,000
|
400 USDT
|
|
2,000,000,000
|
1:0.5
|
0.1 USDT
|
4,000
|
400 USDT
|
|
4,000,000,000
|
1:0.25
|
0.05 USDT
|
8,000
|
400 USDT
|
Other FAQs
Q: Can I participate in all the various projects that are available in BingX Pre-Market Trading?
A: Yes, you can participate in all the projects as long as your Fund Account has sufficient funds to pay for the corresponding orders.
Q: Can I be both a buyer and a seller? Will there be any conflicts?
A: Yes, but you cannot match your own buy and sell orders.
Q: Will my funds be frozen after creating an order? Why is this necessary?
A: Funds for the order are frozen to ensure that every order can be delivered smoothly to reduce the risk of failed trades and prevent market disruptions. Buyers will have their order value and trading fees frozen, while sellers will have the collateral value and trading fees frozen.
Q: When the delivery time begins, how long does it approximately take for projects in Pre-Market Trading to deliver?
A: Once the delivery time begins, the system can typically complete deliveries within a few minutes. However, it may take longer if there is a large number of orders. The system will notify users once the delivery is complete.
Q: What does LTV mean in Pre-Market Trading?
A: LTV refers to the ratio of the collateral value paid by the seller to the order value. Sellers who fail to deliver before the delivery time will forfeit their entire collateral.
Q: How do I cancel a Pre-Market Trading order?
A: Only unfilled orders can be canceled, and you must cancel the entire order. You can do so by visiting "My Orders". Additionally, orders that have been matched by another buyer/seller cannot be canceled.
Q: How can I view my past Pre-Market Trading orders?
A: Visit "My Orders" and select the "Order History" tab. You can search by all coins or a specific one. Currently, you cannot search by "Buy" or "Sell", but this feature will be rolled out in the future.
If you have any further questions about pre-market trading, please contact our customer support team. We’re here to assist you.
BingX Operation Team
2024-09-05
BingX Official Channels
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YouTube: https://www.youtube.com/c/bingx
Risk Disclaimer
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material is for reference only and should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BingX is not responsible for any losses you may incur.
BingX attaches great importance to compliance and has strictly abided by local regulations. Please obey local laws and regulations in your country or region. BingX reserves the right in its sole discretion to amend, change, or cancel this announcement at any time and for any reason without prior notice.
For more information, please refer to our Terms of Use and Risk Warning.