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BingX Tutorial | What Is Trial Fund
2022-06-30 19:17
Play the video to learn what is Trial Fund
This video is for demonstration only. The actual situation may be subject to market conditions and platform rules.
1. What is Trial Fund?
The Trial Fund is issued in the form of a voucher and can be used with a user's own assets as Futures margin or to offset losses and trading fees. When used for offsetting fees, the Trial Fund and the user's own funds will be deducted proportionally. Trial Fund cannot be withdrawn, but the profits generated from it can be withdrawn.
2. How to use Trial Fund?
2.1 Find your Futures Trial Fund
Trial Fund obtained from participating events and other methods can be found in My Vouchers.
App: Homepage -> click your avatar in the upper left corner -> My Vouchers
Web: Homepage -> click the avatar icon in the upper right corner -> My Vouchers
2.2 Redeem the Trial Fund
Trial Fund in My Vouchers needs to be redeemed first to be transferred to your Futures account. Note: Trial Fund without any unlocking conditions can be redeemed directly, while Trial Fund with an unlocking condition requires users to meet the condition as shown on the voucher first before being able to be redeemed.
2.3 Use the Trial Fund
Once redeemed, the Trial Fund will be transferred to the corresponding Standard Futures or Perpetual Futures account for usage. Go to "Assets" and click on Futures to check the Trial Fund balance and usage rules.
3. Scope of application
(1) Trial Funds can be used for Futures trading (including Futures Copy Trading).
(2) Trial Funds can be used to offset losses, trading and funding fees incurred in Futures trading.
(3) Trial funds can be used as position margin in the same way as a user's own assets.
4. Trial Fund terms and conditions
(1) Trial Funds cannot be transferred out of the account or withdrawn, and they cannot be used for currency conversion or grid trading.
(2) When used for offsetting fees, the Trial Funds and the user's own funds will be deducted proportionally. If the Trial Fund is insufficient, the shortfall will be covered by the user's own funds, and vice versa.
(3) Transferring Trial Funds out of the current account will result in the removal of the remaining Trial Fund in the account, and withdrawing Trial Fund will lead to removal of the remaining Trial Fund in all accounts.
(4) Trading fees offset with Trial Funds aren't eligible for commission rebates.
(5) It's prohibited to use Trial Funds for matched orders, self-dealing, and reversing positions. If any of the above malicious behavior or attempts to reap the Trial Fund are found, the platform has the right to take corresponding actions against the accounts involved.
(6) If the removal of remaining Trial Funds will result in auto-deleveraging (forced liquidation) or insufficient maintenance margin for positions, you need to close your open positions before transfer or withdrawal.
(7) Trial Fund has redemption validity period and usage validity period. The redemption validity period can be seen on the Trial Fund issued to My Vouchers, while the usage validity period can be checked the Trial Fund details in Futures Account. The Trial Fund will expire if you don't redeem or use it within the validity period.
(8) If a trader transfers in Trial Fund when holding a position, the position ratio will decrease and the copiers' position ratio will also decrease.
Note:
1. Any users involved in unfair activities to reap Trial Funds will be held accountable for any losses incurred by their actions. BingX reserves the right to the final interpretation of the Trial Fund.
2. As of 2023-08-01, it will no longer be possible to transfer Trial Funds between different futures accounts.
BingX Official Channels
BingX App: https://bingx.com/download/
BingX Web: https://bingx.com
Telegram: https://t.me/BingXOfficial
Twitter: https://twitter.com/BingXOfficial
YouTube: https://www.youtube.com/c/bingx
Risk Warning
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material is for reference only and should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BingX is not responsible for any losses you may incur.
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