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• USDx circulates only within the CFD account and cannot be withdrawn on-chain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:

• 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 instrument has clearly defined contract specifications. You can view details by tapping "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 lots limit applies to a "single order," not a position cap
• The maximum position lots limit is an "instrument-level" limit, meaning the total lots of positions across all directions for the same instrument must not exceed this cap
• Lot specifications vary significantly across instruments. Check the contract information page before placing an order to confirm the details

4. Spread Unit (Spread)

Spread refers to the bid-ask spread, which is the difference between the best ask price (Ask) and the best bid price (Bid), measured in the instrument'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 (Ask) — you buy from the seller offering the lowest ask price
• Sell market order: Filled at the current best bid price (Bid) — 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 (Ask) 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 (Ask) 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 (Bid) 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 (Bid) falls to that price, a sell order executes at market price

Rules:

• A trigger order does not occupy margin before it triggers
• 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 for day orders follows the trading session of the instrument
• Fill or Kill applies to scenarios that require full execution and do not accept partial fills

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:

2. Spread Differences Between the Two Modes

3. Bid/Ask Price Dynamics

• Best bid price (Bid): The highest price a buyer is willing to pay in the order book — your actual filled price when you sell
• Best ask price (Ask): 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 (Ask) − best bid price (Bid)

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 quoted price (Bid/Ask) in the order book.
• Historical charts show only the Bid price.To view the Ask price in real time, enable "Show Ask line" 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

3. Margin Rules for Hedge Mode (Hedging Positions)

BingX CFD accounts support Hedge Mode (Hedging), which lets you hold both buy and sell positions for the same symbol at the same time.The margin for hedging positions is calculated as follows:

Full Hedging

When the buy and sell lots for the same symbol are exactly equal:

Position margin = Hedged position 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 symbol differ:

Position margin = Hedged portion exposure × margin requirement (%) + unhedged portion 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 on the buy side)

Average open price = (3,200 × 5 × 100 + 3,220 × 3 × 100) ÷ (5+3) ÷ 100 = 3,207.5

Hedged exposure = 3,207.5 × 3 × 100 = 962,250

Unhedged 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:

• Hedging positions can reduce the margin used, but net asset value (NAV) can still fluctuate due to changes in spread and swap fees
• Make sure you have sufficient available margin before opening a hedging position

7. Forced Liquidation Mechanism

1. Trigger condition

When your account's margin ratio is ≤ 50%, the system will trigger forced liquidation (Margin Close-Out).

Margin ratio = (net asset value (NAV) ÷ margin used) × 100%

When this value is ≤ 50% → forced liquidation is triggered

2. Execution Rules

3. Notes

• Forced liquidation is executed automatically by the system, with no manual intervention required
• During extreme market volatility, price gaps (Gap), or at market open, the margin ratio may drop sharply in an instant, and the actual liquidation price may differ from the price at the time of triggering
• Setting take profit (TP) or trigger price orders can help manage risk, but they do not guarantee that forced 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 Forced Liquidation

• Control position size: avoid using excessive leverage
• Set take profit (TP) / trigger price orders: add risk control orders to your positions
• Diversify trading symbols: avoid overconcentration in a single symbol
• Maintain a sufficient balance: make sure your net asset value (NAV) 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 Mechanism 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. Specific Adjustment Measures

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 return to normal after the event's impact subsides
• 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-app 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 forcibly closed 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 symbol and direction (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 one day each week (to account for the weekend), and the specific date varies by symbol

2. Trading Hours

• CFD trading hours depend on the global market hours of the underlying asset
• Trading hours vary by symbol. Check the contract information page for specific times
• 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 undergoes scheduled restart maintenance after market close every Friday.During the restart:

• Trading functions are temporarily unavailable (including placing orders, closing positions, and queries)
• Ongoing trades may be affected
• Service automatically returns to normal once maintenance is complete

Recommendation: Plan your trades in advance and avoid 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 quotes, trade frequently, or trade in large lots, we recommend ultra-low spread mode for a better cost structure.

Q3: What is the difference between a trigger price order and a market order?

A: A market order executes immediately at the current best price. A trigger price order lets you set a price condition in advance, which only triggers execution when the market price reaches that condition.A trigger price order does not occupy margin before it is triggered.

Q4: Under what circumstances will forced liquidation occur?

A: When your account's margin ratio drops to 50% or below, the system will automatically trigger forced 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 instrument 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 forcibly liquidated before a major event?

A: Leverage/position limit adjustments alone will not cause forced liquidation.However, higher margin requirements may cause your margin ratio to drop. If it drops below 50%, forced 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 major data is released or during the early stage of the market open.

Terms & Conditions

• The above rules apply to all CFD instruments supported by BingX (metals, stock indices, forex, and commodities)
• For each instrument'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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Risk Disclaimer

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