BingBon

Note: BingBon's official site - https://bingbonexchange.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

What Is BingBon？

BingBon is a broker based in Taiwan. Operating without regulation, it offers access to a range of market instruments including cryptocurrencies and commodities. Its official website is dead.

Pros & Cons

Pros:

• Demo Account Available: BingBon offers a demo account, allowing users to practice trading strategies and familiarize themselves with the platform's features without risking real money.

• Competitive Spread: The platform provides competitive spreads, with rates starting from as low as 0.1 pips for certain financial assets.

Cons:

• Very Limited Customer Support: BingBon's customer support options are severely limited, with no provision of phone numbers or email addresses for direct contact, only a presence on Facebook.

• No Regulation: BingBon operates without regulation, which raises concerns among traders.

• Dead Official Website: The official website of BingBon appears to be inactive or non-functional, undermining the platform's credibility.

Is BingBon Safe or Scam？

• Regulatory Sight: BingBon is currently functioning without any regulation, meaning it does not fall under the supervision of any financial regulatory bodies and does not possess any licenses to operate in the financial market. The absence of any such oversight raises concerns about the firms adherence to financial standards and regulations, increasing the risk for investors.

• User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.

• Security Measures: So far we haven't found any information about the security measures for this broker.

Market Instruments

• Cryptocurrencies: BingBon allows users to trade popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), and Chainlink (LINK). Traders can speculate on the price movements of these digital assets against fiat currencies or other cryptocurrencies.

• Commodities via Perpetual Contracts: Through perpetual contracts, traders on BingBon can access the commodities market. These contracts allow traders to speculate on the price movements of commodities such as gold, silver, and oil.

Leverage

• BTC Contracts: Traders can access leverage of up to 1:150 when trading Bitcoin (BTC) contracts. This allows traders to amplify their positions, potentially increasing both profits and losses.

• ETH Contracts: When trading Ethereum (ETH) contracts, BingBon provides leverage of up to 1:100.

• Forex Pairs: For trading Forex pairs, BingBon offers leverage of up to 1:300. This high leverage allows traders to magnify their exposure to currency movements, enhancing the potential for profit.

• Commodities: When trading commodities such as gold, silver, and oil, BingBon limits the leverage to 1:100.

Spread

• Forex Pairs: The spread for Forex pairs starts from as low as 0.1 pips. This narrow spread minimizes the cost of trading and enhances the potential for profit for traders engaging in currency trading.

• Indices: When trading indices, BingBon provides spreads starting from 0.15 pips. While slightly wider than the spreads for Forex pairs, these spreads remain competitive, allowing traders to access index markets with favorable pricing.

Customer Support

BingBon's customer support options are limited primarily to its presence on Facebook. It doesn't offer direct contact via phone numbers or email addresses. This limited support channel poses challenges for clients seeking immediate assistance or inquiries beyond what's available through Facebook.

Conclusion

BingBon is a non-regulated broker, without an available official website, and efficient customer service, but some features of BingBon can be appealing, such as low spreads. Still, we do not recommend users to trade with this broker.

Frequently Asked Questions (FAQs)

Q: What is the lowest spread provided by BingBon？

A: The lowest spread it provides is 0.1 pips for forex pairs.

Q: What is the maximum leverage provided？

A: It's up to 1:300 for trading forex pairs.

Q: Is a demo account available here？

A: Yes, it is available.

Q: Is BingBon regulated or not？

A: No, it is not regulated.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.