BingX CFD is a derivatives trading product based on traditional finance (TradFi) markets, allowing traders to trade major global asset classes with leverage without actually holding the underlying assets. This article fully explains the core CFD trading rules, including contract specifications, order types, margin mechanisms, and risk control rules, to help you fully understand the relevant mechanisms before trading.
1) Account and Funds
1. Fund transfer-in and the USDx mechanism
BingX CFD uses USDx as the pricing and settlement currency for trading accounts. When you transfer USDT from other accounts into your CFD account, the system automatically converts the USDT into USDx at a 1:1 ratio for CFD trading.
- Transfer in: 1 USDT = 1 USDx
- Transfer out: 1 USDx = 1 USDT (automatically converted back when transferring to other accounts)
- USDx circulates only within the CFD account and cannot be withdrawn on-chain.
2. Trading modes
BingX CFD offers two trading modes. You can choose based on your trading habits:
| Mode | Features | Ideal Scenario |
| Zero fee mode | No commission charged, spread slightly wider | Suited for traders who prefer all-inclusive pricing with no extra fees |
| Ultra-low spread mode | Ultra-tight spreads, closely aligned with raw market pricing, with a low commission | Suited for traders who prefer the best available pricing, high-frequency trading, or large-volume trading |
- In zero fee mode, trading costs are already included in the bid-ask spread, with no additional fees charged.
- In ultra-low spread mode, you get a tighter bid-ask spread, with fees charged based on the number of lots.
2) Supported Contract Specifications
1. Core contract specification parameters
Every CFD asset has clearly defined contract specifications. You can view details by clicking "Info" on the trading page. The key parameters are explained below:
2. Contract size
Contract size defines the amount of the underlying asset represented by 1 standard lot.
3. Minimum/maximum lots and limits
- The maximum lot limit applies to a single order, not a position cap.
- The maximum position lot limit applies at the asset level, meaning the total lots of long and short positions for the same asset must not exceed this cap.
- Lot specifications vary significantly across assets. Check the contract information page before placing an order to confirm the details.
4. Spread unit
Spread refers to the bid-ask spread, which is the difference between the best ask price and the best bid price, measured in the asset's tick size.
- Spread is expressed as a multiple of the tick size.
- Spread is relatively wider in zero fee mode, and tighter in ultra-low spread mode.
- Spread is a floating spread that changes dynamically with market liquidity (see Section 5 of this article for details).
3) Order Types
BingX CFD supports the following order types:
1. Market order
An order that executes immediately at the current best market price.
- Buy market order: Filled at the current best ask price — you buy from the seller offering the lowest ask price.
- Sell market order: Filled at the current best bid price — you sell to the buyer offering the highest bid price.
- Market orders may experience slippage when liquidity is insufficient or the market is highly volatile. The actual filled price may differ from the price shown when you placed the order.
2. Trigger order
A trigger order is a pending instruction. When the market price reaches the trigger price you set, the system automatically submits the order.
- Buy trigger price (below the current best ask price): Set a trigger price below the current best ask price. When the best ask price falls to that price, a buy order executes at market price.
- Buy trigger price (above the current best ask price): Set a trigger price above the current best ask price. When the best ask price rises to that price, a buy order executes at market price.
- Sell trigger price (above the current best bid price): Set a trigger price above the current best bid price. When the best bid price rises to that price, a sell order executes at market price.
- Sell trigger price (below the current best bid price): Set a trigger price below the current best bid price. When the best bid price falls to that price, a sell order executes at market price.
Rules:
- A trigger order does not occupy margin before it is triggered.
- After triggering, the order will execute at market price and may experience slippage due to market volatility.
- A trigger price can be used to open or close a position.
4) Time in Force
Order validity determines how long an unfilled pending order remains active in the system. BingX CFD supports the following validity types:
- GTC is the default validity type.
- The expiration time of Day orders is determined by the trading hours of each asset.
- Fill or Kill applies to scenarios where full execution is required and partial fills are not accepted.
5) Floating Spread and Bid/Ask Price Dynamics
1. Spread mechanism
BingX CFD uses a floating spread mechanism, where the spread between the ask price and the bid price changes in real time based on market conditions.
Factors affecting the spread:
| Factors | Impact |
| Market liquidity | The spread narrows when liquidity is sufficient and widens when liquidity is insufficient |
| Market volatility | The spread widens significantly during sharp volatility |
| Trading session | The spread is narrowest during major trading sessions (such as the London/New York overlap) |
| Major news events | The spread may widen significantly before and after data releases |
| Market open/close | The spread may widen shortly after market open and shortly before market close |
| Weekends/holidays | The spread is typically wider before and after non-trading hours |
2. Spread differences between the two modes
| Mode | Spread Characteristics | Additional Cost |
| Zero fee mode | More stable floating spread, trading costs already included | No commission |
| Ultra-low spread mode | Extremely tight floating spread, close to the raw market quote | Commission charged per lot |
3. Bid/ask price dynamics
- Best bid price: The highest price a buyer is willing to pay in the order book — your actual filled price when you sell.
- Best ask price: The lowest price a seller is willing to accept in the order book — your actual filled price when you buy.
- Mid price: = (best bid price + best ask price) ÷ 2. The mid price is for reference only and does not represent an actual filled price.
- Spread: = best ask price − best bid price.
Please Note:
- The mid price is a reference value shown for display purposes only. You cannot fill any order at the mid price. All orders are matched at the actual order price (Bid/Ask) in the order book.
- Historical charts show only the bid price. To view the ask price in real time, enable the "Ask price line" parameter in the MT5 chart settings.
6) Margin Rules
1. Margin calculation basis
BingX CFD uses a tiered margin system. As position risk exposure increases, the required margin ratio rises accordingly.
Basic formula:
Required margin = Position risk exposure × Margin requirement (%)
Position risk exposure = Average open price × Lots × Contract size
Example:
Suppose you trade XAUUSD with an average open price of 3,200, 1 lot, and a contract size of 100:
Position risk exposure = 3,200 × 1 × 100 = 320,000 USDx
If the margin requirement is 0.2% (that is, 500x leverage):
Required margin = 320,000 × 0.2% = 640 USDx
2. Key account metrics
| Metric | Formula |
| Account balance | Realized funds: deposits ± realized PnL ± commission ± swap fee ± other |
| Equity | Account balance + unrealized PnL - total swap fees |
| Margin used | Total margin used by all current positions |
| Available margin | Account equity - margin used |
| Margin ratio (%) | (Account equity ÷ margin used) × 100% |
3. Margin rules for hedge mode (hedged positions)
BingX CFD accounts support hedge mode (hedging), which lets you hold both buy and sell positions for the same asset at the same time. The margin for hedged positions is calculated as follows:
Full hedging
When the buy and sell lots for the same asset are exactly equal:
Position margin = Hedged position risk exposure × Margin requirement (%)
Note: With full hedging, margin is only charged on the larger side, effectively reducing the margin used.
Partial hedging
When the buy and sell lots for the same asset differ:
Position margin = Hedged portion risk exposure × Margin requirement (%) + Unhedged portion risk exposure × Margin requirement (%)
Example:
Suppose you hold XAUUSD: buy 5 lots (average open price 3,200), sell 3 lots (average open price 3,220)
Hedged portion = 3 lots (the smaller side)
Unhedged portion = 5 - 3 = 2 lots (the excess buy-side position)
Average open price = (3,200 × 5 × 100 + 3,220 × 3 × 100) ÷ (5+3) ÷ 100 = 3,207.5
Hedged risk exposure = 3,207.5 × 3 × 100 = 962,250
Unhedged risk exposure = 3,200 × 2 × 100 = 640,000
Position margin = 962,250 × 0.2% + 640,000 × 0.2% = 1,924.5 + 1,280 = 3,204.5 USDx
Please Note:
- Hedged positions can reduce the margin used, but account equity can still fluctuate due to changes in spread and swap fees.
- Make sure you have sufficient available margin before opening a hedged position.
7) Liquidation Mechanism
1. Trigger condition
When your account's margin ratio is ≤ 50%, the system will trigger liquidation (stop out).
Margin ratio = (Account equity ÷ Margin used) × 100%
When this value is ≤ 50% → liquidation is triggered
2. Execution rules
| Item | Description |
| Trigger threshold | Margin ratio ≤ 50% |
| Liquidation order | Largest loss first — the position with the biggest loss is closed first |
| Close type |
Closed at the current market price Buy positions are closed at the best bid price (Bid 1), and sell positions are closed at the best ask price (Ask 1) |
| Stop condition | Positions are closed one by one until the margin ratio rises back to above 50% |
3. Notes
- Liquidation is executed automatically by the system, with no manual intervention required.
- During extreme market volatility, price gaps, or market openings, the margin ratio may drop sharply within a short period, and the actual close price may differ from the price at which liquidation is triggered.
- Setting take profit or trigger orders can help manage risk, but they do not guarantee that liquidation can be completely avoided.
- We recommend that traders monitor the margin ratio at all times and maintain sufficient available margin.
4. How to reduce the risk of liquidation
- Control position size: avoid using excessive leverage.
- Set take profit / trigger orders: add risk control orders to your positions.
- Diversify trading assets: avoid overconcentration in a single asset.
- Maintain a sufficient balance: make sure your account equity stays well above the margin used.
- Watch the major events calendar: reduce your position size appropriately before high-volatility events.
8) Position and Leverage Limit Before Major Events
1. How it works
To protect users from extreme market volatility during major news events, BingX will apply temporary leverage and position limits before and after specific major events. This mechanism adjusts automatically to help maintain a stable trading environment.
2. Adjustment details
| Adjustment Item | Description |
| Maximum leverage reduction | Temporarily lower the maximum available leverage for affected assets |
| Margin requirement increase | Temporarily raise the margin ratio required for new positions |
| Maximum position limit | May temporarily reduce the maximum lot limit for a single asset |
| New position restrictions | May restrict new positions for specific assets under extreme conditions |
3. Applicable major events (including but not limited to)
- US Nonfarm Payrolls data (NFP)
- Federal Reserve interest rate decision (FOMC)
- Consumer Price Index (CPI)
- European Central Bank / Bank of England interest rate decisions
- GDP data releases
- Major geopolitical events
- Other scheduled events that may cause sharp market volatility
4. Adjustment timing and notification
- Temporary restrictions usually take effect a few hours before the event and are removed once the impact of the event has subsided.
- If your current position leverage is already below the temporary limit, it will not be affected.
- Before the adjustment takes effect, the platform will notify users in advance through an announcement or in-site notification.
- We recommend that you actively follow the economic calendar and plan your trades accordingly before major data releases.
5. Important note
- During a temporary adjustment period, orders that attempt to open positions exceeding the limit will be rejected.
- Existing positions will not be liquidated solely because the limit is triggered, but the increased margin requirement may lower the margin ratio.
- Make sure your account has sufficient available margin before the event to handle the temporary increase in margin requirements.
9) Other Important Rules
1. Swap fee
Holding a position overnight incurs a swap fee, with different rates applied depending on the asset and side (long/short).
- A negative value means you need to pay the swap fee.
- A positive value means you will receive the swap fee.
- Triple swap is charged on one day each week (to account for the weekend). The specific day varies by asset.
2. Trading hours
- CFD trading hours depend on the global market hours of the underlying asset.
- Trading hours vary by asset. Please check the contract information page for specific trading hours.
- Trading hours are based on GMT+2 (GMT+3 during daylight saving time).
3. Scheduled MT5 server restarts
To ensure stable system operation, the MT5 trading server will undergo scheduled restart maintenance after market close every Friday. During the restart:
- Trading features (including placing orders, closing positions, and querying) will be temporarily unavailable.
- Ongoing trades may be affected.
- Service will automatically return to normal once maintenance is complete.
We recommend planning your trades in advance and avoiding urgent operations around market close every Friday.
10) FAQ
Q1: What is USDx? How is USDx different from USDT?
A: USDx is the dedicated trading currency for BingX CFD accounts. When USDT is transferred into a CFD account, it converts to USDx at a 1:1 ratio for trading. When transferred out, USDx converts back to USDT at a 1:1 ratio. The two hold equal value, and USDx serves only as the internal pricing unit for the CFD account.
Q2: How do I choose between zero fee mode and ultra-low spread mode?
A: If you prefer simple, transparent pricing with no extra fees, we recommend zero fee mode. If you're looking for the tightest spreads, trade frequently, or trade larger volumes, we recommend ultra-low spread mode for a more cost-effective trading experience.
Q3: What is the difference between a trigger order and a market order?
A: A market order executes immediately at the current best price. A trigger order lets you set a price condition in advance, which only triggers execution when the market price reaches that condition. A trigger order does not occupy margin before it is triggered.
Q4: Under what circumstances will liquidation occur?
A: When your account's margin ratio drops to 50% or below, the system will automatically trigger liquidation. We recommend monitoring your margin ratio at all times and maintaining sufficient available margin.
Q5: Do hedged positions require double the margin?
A: No. For full hedging (one buy and one sell of the same asset and same number of lots), margin is charged only on one side. For partial hedging, margin is calculated separately for the hedged and unhedged portions, and the total is lower than the sum of the margin calculated separately for both sides.
Q6: Will my position be liquidated before a major event?
A: Leverage/position limit adjustments alone will not cause liquidation. However, higher margin requirements may cause your margin ratio to drop. If it drops below 50%, liquidation will still be triggered. We recommend making sure you have sufficient margin before the event.
Q7: Can the spread widen indefinitely?
A: Floating spreads can indeed widen significantly under extreme market conditions, but they typically stay within a reasonable range during normal trading hours. We recommend avoiding placing market orders at the exact moment of major data releases or during the early stages of market opening.
Terms & Conditions
- The above rules apply to all CFD assets supported by BingX (metals, stock indices, forex, and commodities).
- For each asset's specific contract specifications (lot limits, contract size, margin requirements, etc.), refer to the contract information shown on the trading page.
- BingX reserves the right to adjust related rules based on market conditions and risk control needs, and will notify users in advance of any adjustment.
- Multilingual translations of the product page rules may differ. If there is any discrepancy, the English original prevails.
- Any updates to the information above will be announced separately. If you still have questions about CFDs, contact our customer support at any time.
Risk Warning:
Cryptocurrencies are highly volatile and may involve various risks, including market risk, project risk, technical risk, and compliance risk. You may incur investment losses. Note the risks and invest cautiously. BingX will continue improving its trading experience and product services. Thank you for your support and understanding.
BingX Operation Team
2026-08-05
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