[Revised Agreement]

Revision time: 2023-05-29 (UTC+8)
Amendment: Risk control rules


Before using BingX Futures to trade, users should read and abide by this agreement. Users must carefully read and fully understand the contents of each clause, especially the corresponding clauses that exempt or limit liability, and choose to accept or not accept.


Unless the user has read and accepted all the terms of this agreement, the user has no right to use BingX Futures service and its related services. The user's actions such as logging in, viewing, and posting information on this service are deemed that the user has read and agreed to be bound by this agreement.


1. Futures Trading

1.1 Futures trading is highly risky. As a futures trader, you acknowledge and agree that you shall access and use the futures trading service at your own risk.


1.2 You should fully understand the risks associated with futures trading and be solely responsible and liable for any and all trading and non-trading activities on your BingX account. Do not enter into a transaction or invest in funds that are above your financial abilities.


1.3 You are solely responsible and liable for knowing the true status of any position, even if presented incorrectly by BingX at any time.


1.4 You agree to maintain a sufficient balance of blockchain assets in your BingX futures account required by BingX to engage in futures trading. Failure to maintain a sufficient amount of assets can result in the forced liquidation of assets in your futures account. You are fully responsible for knowing the true risk status of any token assets (including but not limited to your deposit assets, assets acquired after spot trading, and profits generated after futures trading) you hold in your BingX account, even if BingX may present it incorrectly at any time.


1.5 During BingX system maintenance, you agree that you are solely responsible and liable for managing your futures account at your own risk, including but not limited to keeping or closing your position.


1.6 You agree that you conduct all futures trading on your own account and claim full responsibility for your activities. BingX does not take any responsibility for any losses or damages incurred from your use of our services, your failure to understand the risks involved associated with the assets, or your use of our services in general.


1.7 You agree that all investment operations conducted on BingX.com represent your true investment intentions and that unconditionally accept the potential risks and benefits of your investment decisions.


1.8 BingX reserves the right to suspend/terminate BingX Futures service or take over users’ positions at any time if deemed necessary.


1.9 BingX.com makes commercially reasonable efforts to ensure the stable and effective operation of BingX Futures service. However, due to network delays, computer system failures, and other force majeure events, the execution of BingX Futures service may be delayed, suspended, or deviated. BingX.com does not assume any responsibility if the final execution does not meet your expectations due to the aforementioned factors.



2. Risk Control Rules

2.1 BingX Standard Futures adopts various systems to control risks, including but not limited to:
Forced liquidation
BingX will continue to improve its risk control rules based on market conditions.
2.2 BingX Perpetual Futures adopts various systems to control risks, including but not limited to:
Tiered maintenance margin rate
Forced liquidation
BingX will continue to improve its risk control rules based on market conditions.
2.3 Tiered maintenance margin rate: Futures trading adopts a tiered maintenance margin rate system. The larger the position, the higher the maintenance margin rate. Additionally, to avoid forced deleveraging, your margin rate must be higher than the maintenance margin rate, which is the minimum margin rate required to maintain your current position.
2.4 Forced liquidation system: When an account fails to meet the margin requirements, the forced liquidation engine takes over the position and initiates a forced liquidation.
2.5 Auto-deleveraging (ADL): It is a risk management mechanism if a position is closed with negative equity. When a forced liquidation occurs, if the position cannot be liquidated at a price better than the bankruptcy price, and the balance of the insurance fund is not enough to cover the loss of the position, the system will deleverage the position of the counterparty who holds the opposite position.
2.6 Risk reserve: The risk reserve is set up by the platform to provide financial guarantees for the maintenance of futures trades and to make up for losses due to unforeseen risks on the platform.



3. Prohibited Trading Matters

3.1 Users are forbidden to use multiple accounts and devices for illegal arbitrage (including but not limited to earning trading fees, commissions, Bonuses, hedging, etc.). The platform will take appropriate measures against users who are detected to be illegally arbitraging by the system.

Measures include (but not limited to) restricting accounts, freezing assets, restricting logins, requesting KYC, and more.


3.2 To maintain a normal trading experience for ordinary users, the platform reserves the right to exercise the following measures for users who are detected by the system to engage in ultra-short-term trading (high-frequency opening and closing of positions):

1) Immediately terminate your account and access to our servers, and deduct any illegal gains.

2) Invalidate all trading that constitutes ultra-short-term trading activities (i.e. process the trades as if they never occurred).

3) Close all trades that constitute ultra-short-term trading activities based on our current market price.

4) Extend the position holding period (that is, you can only close the position after a certain time).


3.3 BingX strictly prohibits unfair trading practices. If any of the following behaviors are detected while using BingX's services, BingX reserves the right to exercise control over your account at its own discretion.

1) Engage in price manipulation or any other malicious market behavior.

2) Potentially causing harm to other users or BingX by exploiting vulnerabilities of this service or using other unreasonable means.

3) Engage in any other activities that BingX deems harmful to the market.


I have read and agreed to the BingX Futures Service Agreement.