Suppose you are looking for a cryptocurrency exchange offering a user-friendly platform, copy trading features, and access to futures and spot markets. Then BingX might be worth considering to fit your needs.

This BingX review will examine the exchange’s offerings, including its supported cryptocurrencies, trading features, fees, and, most importantly, its reputation and security.

Key Takeaways:

  • BingX is a global crypto trading platform that supports over 750 coins and tokens, including Bitcoin, Ethereum, Solana, and more.
  • BingX is one of the safest crypto exchanges with publicly available PoR data (solvency data) and is licensed by various regulatory bodies, including the Financial Crime Investigation Service (FSIC) and the Australian Transactions and Reports Analysis Centre (AUSTRAC).
  • BingX offers different trading features, such as spot trading, copy trading, grid trading bots, futures trading, and crypto staking services.

BingX Review: General Information

TypeCrypto trading platform
Supported cryptos750+
FeaturesSpot, futures, copy trading, grid trading bots, staking, etc.
Fees0.1% maker-taker for the spot market0.02% maker and 0.05% taker for the futures market
Deposit MethodsCredit and Debit cards, MoonPay, Mercuryo, and 300+ on the P2P market
Platform SupportedBingX app for Android and iOS
KYCNot Mandatory
Supported Countries100+ excluding USA and UK
Customer supportEmail and live chat

What is BingX?

Founded in 2018, BingX is a popular cryptocurrency exchange with offices and regulatory approvals in regions like Asia, Oceania, Europe, and South America, serving over 10 million users worldwide. Apart from cryptocurrencies, it also supports trading other financial products like stocks, indices, commodities, and forex.

Bingx Interface

The exchange supports the trading of more than 750 cryptocurrencies, including popular ones like BTC, ETH, LTC, and ATOM. It also provides diverse trading features such as spot trading, futures trading with 125x leverage, and crypto copy trading. With competitive fees of 0.1% for both makers and takers and even lower fees of up to 0.005% for VIP users, it ensures cost-effective trading.

BingX has a user-friendly interface, making it easy to navigate even if you’re new to the crypto space. They also offer educational resources to help you learn. Furthermore, this trading platform uses industry-standard security measures to protect your account and funds. This includes two-factor authentication (2FA) and data encryption protocols.

Additionally, the platform runs a loyalty program rewarding new users with sign-up bonuses. There is also a BingX affiliate program for influencers and larger community managers.

Register with our BingX referral code “HHZMEIOM” to get up to 5125 USDT as a sign-up bonus and get free daily signal trading, free trading insights & market updates and free hidden gems analytics.

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Pros of BingX

  • Over 750 tradable digital assets and 100+ fiat currencies supported.
  • Contracts for crypto, indices, commodities, and forex market.
  • Copy trading to follow and copy strategies of experienced traders.
  • Demo trading account to practice and test platform features without real money.
  • It is globally regulated by FinCEN, MSB, and AUSTRAC.

Cons of BingX

Steps to Open a BingX Account

Step 1: Register an Account

To begin, you need to create an account on BingX. First, visit the BingX website. On the homepage, you will see a “Sign Up” button. Click on it. You will be taken to a registration page. Here, you need to enter your email address and create a password. Make sure to use a strong password to keep your account secure. After filling in your details, click on the “Sign Up” button at the bottom of the form.

Next, BingX will send a verification email to your email address. Open your email inbox and click on the verification link. This will confirm your email address and activate your account.

Open Account On Bingx

Step 2: KYC on BingX

After creating your account, you need to complete KYC verification, which is a process of verifying your identity. This step is essential for security and compliance with regulations. To start the KYC process, go to your “Profile” section. Click on it, and you will see an option for “Identity Verification.”

Kyc On Bingx

Next, you will need to upload a photo of a government-issued document (such as an ID, passport, driver’s license, or national ID card). Ensure the photo is clear and all details are visible. You also require a selfie with your ID to verify your identity further.

Upload Personal Documents On Bingx

After uploading your documents, submit the form. The verification process may take some time, usually a few hours. BingX will review your information and documents. You will receive a notification once your KYC is approved.

Step 3: Deposit Crypto or Fiat on BingX

Now, go to “Assets” and select “Deposit.” You can add money to your BingX account by transferring crypto from another wallet or exchange or using fiat deposit options if they’re available in your area.

Deposit Assets To Bingx

You can also use the “Quick Buy” option to purchase crypto quickly with fiat money. To do so, go to the “Buy Crypto” section in the menu bar and select “Quick Buy.” Enter either the amount of fiat money you want to spend or the quantity of crypto you wish to buy, then hit “Buy.” Select your payment method and follow the on-screen directions.

Buy Crypto On Bingx

For another payment method, ” Bank Deposit, ” provide details such as crypto and amount, and complete the payment. This method is powered by ‘Legend Trading’.

Bank Deposit On Bingx

Step 4: Trade Crypto on BingX

Once you have funds in your account, you can start trading. Go to the “Markets” section on the BingX trading platform. Here, you will see various trading pairs. A trading pair consists of two cryptocurrencies you can trade against each other. For example, BTC/USDT is a trading pair where you can trade Bitcoin for USDT. Choose the trading pair you want to trade. Click on “Trade” to go further.

Crypto Market On Bingx

The price chart, order book, and trade history are on the trading page. To place a trade, you need to create an order. You can choose between a market order or a limit order. 

A market order will be executed immediately at the current market price. A limit order lets you set the price at which you want to buy or sell. If the market reaches your price, the order will be executed.

Enter the amount you want to buy or sell and confirm your order. Once the trade is executed, your balance will be updated. 

Register with our BingX referral code “HHZMEIOM” to get up to 5125 USDT as a sign-up bonus and get free daily signal trading, free trading insights & market updates and free hidden gems analytics.

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BingX Fees

BingX VIP Trading Fees

Let’s first talk about BingX spot trading fees. Spot trading incurs different charges for makers and takers on BingX.

Makers place limit orders to provide liquidity, while takers execute market orders to take liquidity.

For most popular trading pairs like BTC/USDT, ETH/USDT, or SOL/USDT, BingX charges a standard 0.1% maker fee and a 0.1% taker fee. It also offers a VIP trading fee system for spot trading, granting lower fees and additional privileges based on 30-day trading volume. This system comprises 6 levels, from VIP 0 to VIP 5, where higher levels entail lower fees. 

For instance, a VIP 5 user pays only a 0.01% maker fee and a 0.0325% taker fee for most pairs. Moreover, BingX also has a “VIP supreme” tier for trading volume over 15M, which incurs a fee of 0.005% maker and 0.02% taker.

Below is the VIP fee system for spot trading:

VIP Level30-day Trading Volume (USDT)Maker FeeTaker Fee
VIP 00.10%0.10%
VIP 1≥ 1,000,0000.035%0.06%
VIP 2≥ 2,000,0000.02%0.05%
VIP 3≥ 4,000,0000.015%0.045%
VIP 4≥ 6,000,0000.0125%0.0375%
VIP 5≥ 8,000,0000.01%0.0325%
VIP Supreme≥ 15,000,0000.005%0.02%

For futures trading, BingX charges 0.05% per order for takers and 0.02% for makers. Similar to spot trading fees, it provides a VIP fee system for futures trading, where higher VIP levels lead to lower fees. For instance, VIP 5 users pay only a 0.006% maker fee and a 0.03% taker fee for perpetual futures.

To qualify for a VIP level, users must meet either the 30-day trading volume requirement or yesterday’s asset value requirement.

Trading Fees For Vip Users On Bingx

BingX Withdrawal and Deposit Fees

At BingX, you won’t be charged any fees for depositing funds, but there are charges for withdrawals. These withdrawal fees are influenced by factors such as the cryptocurrency type, amount, and network conditions. 

BingX supports various withdrawal networks, including ERC-20, BEP-2, BEP-20, TRC-20, and OMNI, giving users flexibility. However, it’s essential to note that each network has its own fee structure and minimum withdrawal limits.

For instance, withdrawing USDT via ERC-20 incurs a $5 fee with a minimum withdrawal of $5, while using TRC-20 imposes a $1 fee with a minimum withdrawal of $8. The crypto exchange regularly updates withdrawal fees and minimum withdrawal amounts in response to network conditions and cryptocurrency market prices. 

You can check the latest withdrawal fees and limits here. Plus, the table below is the fees for credit/debit card transactions: 

Issuing region Transaction fee
EEA countries1.5%
Non-EEA countries3.3%

BingX Withdrawal Limit

For verified users, the daily withdrawal limit is a whopping 5,000,000 USDT. Unverified users have a lower limit of 50,000 USDT per day.

For fiat currencies, here are the transaction limits for credit cards:

Min. Amount per TransactionMax. Amount per TransactionMax. Daily Transaction LimitMax. Monthly Transaction Limit

BingX Payment Methods

BingX presents three ways to purchase cryptocurrencies with fiat currencies:

  1. Quick Buy: This feature facilitates swift transactions using bank cards like Visa and Maestro, ensuring instant processing. With over 30 fiat currencies available, you can utilize third-party payment providers like MoonPay or Mercury.
  2. P2P (Peer to Peer): Engage in direct cryptocurrency trading with other BingX users via the peer-to-peer market. This avenue expands the scope with additional fiat currencies and over 300 payment methods like Wise, Payeer, Advcash, Zelle, and more.
  3. Credit/Debit cards: BingX presently supports direct payments through Visa and Mastercard. You are also required to confirm your card’s compatibility with “3D Secure” and its eligibility for international and online transactions. The platform supports various fiat currencies, including EUR, USD, GBP, TWD, AUD, BRL, CHF, MXN, PLN, SEK, JPY, CZK, AED, INR, and TRY. 

BingX Review: Key Features

Demo Account

One of BingX’s best features is that it lets you try out futures trading without risking any real money. They offer demo trading with VST (which stands for virtual USDT). With VST, you can trade without using tangible assets. It’s a handy way to learn how everything works on BingX without any stress. You get to test the trading rules and see how risky it can be, all for free.

You can use VST only for the standard and perpetual futures contacts. Initially, you automatically get 100,000 VST in your demo trading account. You’ll have a limit of 150 VST orders per day. You can move VST from your standard futures account to your perpetual futures one to try out all the features. 

If you need more VST, you can only ask for more once every 7 days. You can read more about how to use VST for demo trading here.

Demo Account On Bingx

Copy Trading

Copy trading lets you automatically mimic the trading strategies of elite traders on the BingX platform. You can select elite traders based on their performance, risk level, and trading style and then easily copy their strategies. By following elite traders, you can learn from their expertise, diversify your portfolio, and earn profits with less time and effort.

This feature supports both spot and futures markets, covering over 750 cryptocurrencies and contracts. You have control over settings like fund allocation, maximum orders, slippage tolerance, and stop-loss ratio. Monitoring your performance, viewing order details, and adjusting or stopping your copy trades are all possible.

BingX copy trading feature is not free, as you need to share up to 10% of your profits with your elite trader. Additionally, you’ll incur regular trading and network fees (if applicable). Currently, there are over 17,000 elite traders on the BingX copy platform, who have completed over 600 million orders.

Trending Traders On Bingx

BingX Wealth

BingX Wealth offers a complete solution for managing your assets, allowing you to earn interest on your idle funds and get steady returns. It supports various popular cryptocurrencies for earning interest, such as USDT, BTC, and ETH, among others. There are two main products offered: Shark Fin and Simple Earn.

Shark Fin is a product that allows you to predict market directions and earn interest accordingly. You need to select either bullish or bearish directions and set a price range for the crypto asset. If the asset price falls within the chosen range upon maturity, you earn higher interest; otherwise, you will earn the base interest rate. Shark Fin has four products: Bullish_BTC, Bearish_BTC, Bullish_ETH, and Bearish_ETH, with lock periods of 1-day, 3-day, or 7-day. The actual APR is determined at maturity, and early redemption isn’t supported.

Simple Earn is a flexible product that allows you to earn interest without locking up your assets. You can deposit and withdraw anytime, enjoying daily interest accrual. 

BingX Wealth also offers fixed-term products with fixed start and maturity times and predictable returns. For fixed-term staking, you can choose from 30-day and 90-day durations. It offers competitive interest rates of up to 7.5% APR on various cryptocurrencies.

Wealth Features On Bingx

BingX Mobile App

The BingX crypto exchange also has a mobile app for Android and iOS devices. The app is simple and easy to use. You see a clear and organized home screen when you open the app. It shows the latest prices of different cryptocurrencies. You can quickly check how much your favourite coins are worth.

The BingX app has many features, including the ability to buy and sell cryptocurrencies. Orders are easy to place, you choose the coin, enter the amount, and confirm.

The BingX mobile app also has charts and tools. These help you analyze the market. You can see how prices have changed over time. There are different chart types to choose from. You can use these tools to make better trading decisions. The app also has news updates. You can stay informed about the latest news in the crypto market.

The app has also received good ratings, with 4.6/5 on the Play Store and 4.9/5 on the App Store. This shows good customer satisfaction.

Bingx Mobile App

Grid Trading Bots

BingX grid trading bots are automated tools that use grid trading strategies to execute trades in the cryptocurrency market.

Grid trading involves placing buy and sell orders at specific intervals, creating a grid-like pattern on the price chart. The goal is to buy at low prices and sell at high ones, making the most of price changes within a certain range.

BingX provides three types of grid trading bots: Futures Grid, Spot Grid, and Spot Infinity Grid.

  • Futures Grid: This bot lets you trade futures contracts with leverage, increasing your margin and potential profit. You can select from various leverage levels, ranging from 1x to 125x.
  • Spot Grid: Similar to the futures grid bot, this bot is for spot trading. 
  • Spot Infinity Grid: It is an advanced version of the Spot Grid bot. It has no upper price limit, allowing it to keep selling at higher prices without missing any profit opportunities. You can also set a trailing stop loss, which automatically closes the position if the price drops below a certain percentage.

In BingX grid trading, you can easily choose the bot type, trading pair, and grid settings. Once confirmed, the bot will start running and execute trades automatically. You can monitor the bot’s performance, history, and earnings on the same interface. You can also stop, modify, or delete the bot anytime.

Grid Trading Bots On Bingx

BingX Supported Cryptocurrencies

BingX supports over 750 crypto coins and tokens, including many altcoins and low market cap projects. Here are some of the popular coins:

BingX Customer Service

BingX customer support offers a few ways to get help with your crypto trading questions. Let’s break down the options:

  • Email: This seems to be the main way to reach BingX support. Their email address is [email protected]. This might be a good option for complex issues where you can clearly explain your problem and attach screenshots if needed.
  • Help Center: BingX has a help center on their website. It’s like a self-service library with articles and FAQs (Frequently Asked Questions) on various topics. You can search by keyword to see if your question has already been answered. This could be a good first stop for quick solutions to common problems.
  • Live Chat: It also offers live chat support. This is convenient if you prefer talking to a real person right away.

BingX Security: Is Bingx Safe?

BingX employs state-of-the-art encryption technology to secure user data and transactions. It encrypts sensitive information, such as personal details and financial data, making it unreadable to unauthorized parties. 

The platform also uses Secure Sockets Layer (SSL) and Transport Layer Security (TLS) encryption protocols to ensure secure communication between users’ devices and the exchange servers. This prevents data interception and manipulation during transmission.

Talking about user security measures, it prioritizes implementing two-factor authentication (2FA) measures. It also supports withdrawal address whitelisting.

It also has partnerships with top cybersecurity firms and has passed a security audit by CertiK. It provides 100% proof-of-reserves verified by Mazars, a globally trusted organization.

BingX follows regulatory standards in the countries it operates. It holds licenses including:

Holding Licenses Of Bingx

BingX vs Other Crypto Exchanges

Bybit and KuCoin are the best alternatives to BingX. Here is a quick comparison:

Supported Assets750+700+1200+
Spot TradingYesYesYes
Trading Fees0.1% maker/taker for spot trading0.02% maker and 0.05% taker for futures0.1% maker/taker for spot trading0.02% maker and 0.06% taker for futures0.1% maker/taker for spot trading0.02% maker and 0.055% taker for futures
DerivativesUSDT-M and USDC-M perpetual futures, traditional futuresUSD-M and Coin-M perpetual futures, margin, leveraged tokensUSDT perpetual, USDC contracts, inverse contracts, options trading
Maximum Leverage125x125x100x
Copy TradingYesYes
Earn ProductsSimple Earn and shark finKCS staking, fixed and flexible savings, snowball, crypto lendingSavings, liquidity mining, structured products, crypto loans
Automated BotsGrid trading onlyGrid, smart rebalance, martingale, DCAGrid, Martingale, and DCA
Launchpad (new projects)Yes (Spotlight)Yes

We have our detailed comparison guide with BingX alternatives, please check BingX vs KuCoin and BingX vs Bybit.

BingX Exchange Review: Final Thoughts

To sum up BingX review, it emerges as a promising player in the cryptocurrency exchange market, offering a user-friendly platform and robust security measures for both beginners and experienced traders. While it may not yet boast the same level of recognition as some of its competitors (like Binance or Bybit), its commitment to regulatory licenses and customer satisfaction sets it apart.

BingX offers all trading features like spot, perpetual futures trading, copy, and grid bots. It provides a wide range of over 750 cryptocurrencies and charges competitive fees for spot trading. But, there are downsides to BingX. It doesn’t support margin trading or lending services. It is also not available in some countries like the US and the United Kingdom.

Register with our BingX referral code “HHZMEIOM” to get up to 5125 USDT as a sign-up bonus and get free daily signal trading, free trading insights & market updates and free hidden gems analytics.

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Frequently Asked Questions

Is BingX a good exchange?

Yes, BingX is a globally recognized spot and futures crypto exchange with over 10 million users. The platform is also user-friendly for beginners. With a suite of offerings spanning spot, derivatives trading, copy trading, and asset management, BingX caters to diverse user needs, from novices to experts.

Can BingX be trusted?

Yes, BingX is a trusted and legitimate crypto exchange. It operates under several regulatory frameworks, which enhances its credibility. It holds licenses in countries like the United States, Canada, Australia, and European nations. These licenses are critical as they indicate that BingX adheres to the regulatory standards set by these countries, ensuring a higher level of oversight and accountability.

The platform also employs advanced security protocols, including two-factor authentication (2FA), encryption technologies, and cold storage for the majority of user funds.

Which country made the BingX exchange?

BingX operates under the BingX Group with global headquarters in Singapore and branch offices in Asia, Oceania, Europe, and South America. The founder of BingX is Josh Lu, a veteran in the crypto industry.

Is Bingx available in the USA?

No, BingX is not available in the USA for crypto trading and investing. This is due to varying regulatory restrictions in the country.

Does Bingx require KYC?

BingX doesn’t mandate KYC for all users. You can deposit, trade, and withdraw crypto without verifying your identity. However, you can not deposit fiat currencies without ID verification. There are different limits for verified and unverified users:

  • Verified users can withdraw up to 5,000,000 USDT per day, while unverified ones can only withdraw up to 50,000 USDT per day.
  • Verified users get access to more services like fiat deposits through bank accounts or P2P trading.