BingX exchange integration for legacy market trading

Feature Requests
1

Please add Bingx as new exchange. I know it seems at first sight as another crappy and unnecessary exchange not worth the effort, but it’s very very special since its the only crypto exchange that I know that offers legacy markets as futures like stocks, forex, indices, commodities.

That would be a bot game changer since crypto trading is the most difficult to trade. Traditional markets are much more predictable, specially by indicators as I experienced.

So I hope you are going to consider my request and idea.

Business wise, it could also open up a new target group for gainium.

Alternatively, who knows another crypto exchange offering legacy markets?

2 Likes
2

It’s interesting I didn’t know they also offered legacy markets. Not a lot of choice for stocks though. Will track this.

1 Like
3

Yes, the stock choice is limited, but indicies, commodities and forex choice is decent.

4

BingX has horrible high fees, they didn’t even mentioned the spreads last I traded on their exchange. In my opinion is not worth trading there.

5

Yes, the fees are uncool, but do you have a better alternative to trade legacy markets on a crypto exchange?

Btw, the fees for futures at first sight aren’t that bad.

Perpetual Futures Fees Comparison Across Platforms
Crypto Exchange Maker Fee Taker Fee
BingX 0.020% 0.050%
Bybit 0.020% 0.055%
Binance (USD(S)-M Futures) 0.020% 0.040%

6

Traditional markets are not more predictable than crypto markets, there is no such thing as a predictable market, you are always playing with probabilities, if there was a way to predict a market, markets wouldn’t exist. The only advantage to trade on traditional markets is that the volume is way higher than in crypto markets.

7

Trade legacy markets on a reputable broker like Pepperstone or whatever you choose. For the same position size on bingx I would pay 80c fee with unknown spread and at Pepperstone I would pay 6 cents and sometimes the spreads are 0 pips. With this kind of disadvantage you will never be profitable on Bingx. EVER never!

8

Ok, why not pepperstone. Should we ask Ares to intergrate it?
Since i am a bot trader and dont want to trade with VPS and Metatrader, what would you suggest to automate Pepperstone or other broker with a powerful bot platform like Gainium?
A few years ago Binance and FTX had tockenised stocks, that was great, but back then the bot platforms werent that sophisticated. So now we have the good bots, but not the right markets anymore, regarding tradfi. I prefer to keep my funds in the crypto space rather than at some broker in SEPA system. thats why i am already long observing crypto exchanges that will list the tokenised legacy markets again. If you know another than BingX, please let me know.

9

That’s a great idea! I’ve searched for a long time and nobody is offering this type of product, would love to see a legacy broker integrated with gainium bots!

2 Likes
10

Are the fees on BingX higher for commodities than for crypto products?

I am using standard futures myself and the fees are ok to me, even with low TP and market orders.

I’d love to see BingX added as well :blush:

11

This is non KYC which will be the only one in the exchange list.

And it has a good selection of tokens and reasonable price.

Nothing is perfect. This is a great all-rounder.

Smaller exchanges carry big risk it might just close down and keep your tokens.