BigoMex Review：How traders invest crypto contracts trading easily
Due to the high volatility of the cryptocurrency markets, derivatives trading has become increasingly common among crypto traders in recent years. On crypto contract trading platforms, billions of dollars in value are exchanged every day, offering traders the ability to benefit whether the price is rising or dropping.
BigoMex is a new cryptocurrency derivatives exchange located in Singapore that aims to make trading as simple as possible for users. The slogan of this exchange is "Trade with Ease," and this product review will demonstrate how easy it is to use BigoMex.
This company is registered with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore and is regulated by the Financial Crimes Enforcement Network (FinCEN) in the United States as a Money Service Business. BigoMex's developers take security and compliance very seriously.
Derivatives trading, unlike spot trading, entails margin and leverage. The advantage of this technique is that it allows users to open a large position with a limited amount of capital as margin.
Since this has the ability to magnify all gains and losses, traders must exercise caution and be aware of the risks associated with this form of trading.
It's also worth remembering that BigoMex is a derivatives trading site, which means you're purchasing a perpetual futures trading contract rather than the financial commodity, such as Bitcoin.
The advantage is that you can use leverage, but the drawback is that you don't own Bitcoin.
Trading on BigoMex
There are two types of orders that you can put on the BigoMex exchange. The first type is a Market Order, which executes a transaction at the best available market price at the time of execution. The second type of order is a limit order, which is used to specify a price at which you want to open a position.
After deciding on the form of order, users must decide how much margin they want to use, or how much money they want to put into the trade. BigoMex's minimum margin is set at 2 USDT.
However, if you want to open a large position, you can maximize it up to 100x on certain pairs.
BigoMex has leverage levels of 10x on the low end and 100x on the high end. However, 100x leverage is not available on all of the platform's cryptocurrencies, especially those with a low market cap.
Users must choose their stop loss and take profit levels before initiating a position, which is critical when trading with leverage. Good trades will be ended at the take profit level to protect gains, while bad trades will be stopped at the stop loss level to protect losses.
Tutorial and Demo Trading
BigoMex has a user-interactive step-by-step trading guide for users who are unfamiliar with derivatives trading. It provides users with guidance and presentations on trading terms, platform functionality, and other topics.
Aside from that, BigoMex has added a demo trading mode, which is a fantastic feature that will help users understand how to trade crypto contracts. Users can practice virtual trades and familiarize themselves with the platform's features by using the demo mode. Demo trading is a feature that not many cryptocurrency contract trading platforms offer, so BigoMex has a distinct advantage here.
BigoMex does not charge a commission for opening a trade. Instead, when a position is closed, a 0.1 percent fee is charged.
There are 23 crypto assets that are tradeable on this exchange, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and other large marketcap cryptocurrencies as well as new listings SushiSwap (SUSHI), UniSwap (UNI), Dogecoin (DOGE) and others.
Users can deposit Bitcoin, Ethereum, XRP, TRX or the USDT stablecoin to fund their BigoMex accounts. If depositing cryptocurrencies other than USDT, the funds are automatically converted to USDT. BigoMex does not charge fees on deposits.
Bonus and Referral Program
The exchange is currently offering a bonus package that will allow you to earn a 268 USDT trading bonus based on your trading amount. This could be the most successful way to begin trading on the crypto contracts platform. If you deposit $100 USDT or more, you will receive an extra $20 USDT, allowing you to open greater positions and gain more exposure to digital assets.
BigoMex has a referral scheme in which users can gain money by referring new people to the website. Users who sign up via a referral connection receive a 5 USDT bonus. You will receive a 5 USDT bonus as well as a portion of the trading fees that they pay while trading on BigoMex if you successfully invite a customer. The lowest tier receives a ten percent rebate, while the highest tier receives a seventy percent rebate.
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