Dear BingX Users:

Due to network server issues between 10:18AM -11:50AM (GMT+8 Singapore Time) on June 10th, 2020, the market service of Standard Contracts were abnormal, which caused a system error for users trading Standard Contracts. After repairs by the BingX technical team, the platform was repaired and operational at 11:50AM.

BingX hereby solemnly promises to you that if the system caused you unexpected losses, the platform will make full compensation!

Detailed Rules for Compensation

The system will compensate the users who encountered the following situations:

1. Users that experienced forced liquidation during this period will receive full compensation

Compensation Plan: Compensation Amount = Margin of Trade

2. Users that cannot close positions during this time, causing losses, will receive partial compensation.

Compensation Plan: Compensation Amount = Max. Floating P/L during the abnormal period - Floating P/L when the abnormality occurred

3. Users that accidentally triggered Stop Losses will recieve partial compensation of losses.

Compensation Plan: Compensation Amount = Stop Loss Amount - Floating P/L when the abnormal occurred

Example 1:

If users’ position had a forced liquidation of 100 USDT during the abnormal period, the user will receive 100 USDT compensation.

Example 2:

1. a) If a users’ position had a profit of 80 USDT when the abnormality occurred, and the Max. profit decreased to 50 USDT during the abnormal period, the user will receive 30 USDT compensation.
2. b) If a users’ position had a profit of 80 USDT when the abnormality occurred, and the Max. profit increased to 100 USDT during the abnormal period, the user will receive 20 USDT compensation.
3. c) If a users’ position had a profit of 30 USDT when the abnormality occurred, and the Max. loss was -10 USDT during the abnormal period, the user will receive 40 USDT compensation.
4. d) If a users’ position had a loss of -20 USDT when the abnormality occurred, and the Max. loss was -70 USDT during the abnormal period, the user will receive 50 USDT compensation.
5. e) If a users’ position had a loss of -20 USDT when the abnormality occurred, and the Max. profit was 30 USDT during the abnormal period, the user will receive 50 USDT compensation.

Example 3:

If a users’ position had a loss of 40 USDT when the abnormality occurred, and triggered a stop loss to lose 70 USDT during the abnormal period, the user will receive 50 USDT compensation.

Additional Description

• The price will be calculated based on the user's optimal price
• The compensation will be distributed before 20:00 of June 12th, 2020 (GMT+8)
• If you have any questions, please contact online customer service 

In addition to the above compensation, as an apology, BingX will issue additional airdrop benefits to users that encountered any abnormal orders between 10:18-11:50 on June 10th, 2020.

During 10:18-11:15 of June 10th, 2020, if the max. position trading volume reached a certain level, the user can receive an extra bonus as an airdrop reward.

• Position Amount  = Margin x Leverage (can be cumulative)
• Bonuses are not limited to certain categories
• The bonus is valid in 7 days
• The bonus supports up to 100x leverage；

Risk Warning: 

Digital asset derivatives trading is highly leveraged and risky, and may result in partial or total loss of account funds. Before conducting contract trading, investors must ensure that they understand the nature and rules of contract trading, and decide whether to participate in contract trading based on their investment experience, goals, financial status, and ability to bear risks.

Thanks for your support and trust to BingX. We will provide a safe, fair and comfortable trading ecosystem for all investors!

BingX Operation Team


2020/06/10