BingX is a leading cryptocurrency exchange that provides users with a safe, secure, fast trading derivatives platform. With a comprehensive suite of services and a focus on social trading, the BingX exchange caters to traders of all levels.
In our BingX review, we will provide users with the latest and most accurate information on the exchange, and delve into various aspects of the exchange, such as its fee structure, features, and more.
Our verdict on BingX
BingX is a good platform for all types of crypto traders, but we believe it is more suited for new traders. The platform offers an extensive copy trading feature, which is more helpful to rookie traders as it allows them to mirror the trades of experts. Additionally, the exchange offers a sign-up bonus to new users.
However, the exchange also offers a range of other useful features that we believe resonate well with experienced traders. BingX features, including instant spot exchanges, derivatives pairs, and 100x leverage, attract a lot of experienced traders to the platform.
BingX scores high in terms of security as well. The exchange has 100% margin reserves verified by reputable organizations, and it has also partnered with leading cybersecurity firms to boost its defenses against potential threats. Moreover, the exchange adheres to no-verification exchanges for crypto regulations to provide traders with a secure, transparent, and compliant trading environment.
Pros and cons of BingX
Pros
- Offers up to 100x leverage
- Well-integrated copy trading and demo trading platform
- Users can trade more than 750 cryptocurrencies on BingX
- Has a global presence with branch offices across Asia, Oceania, Europe, and South America
- Implements a tiered fee structure, rewarding VIP traders with discounts and incentives
Cons:
- Limited customer support options
- No leverage offered on spot trading
Methodology: How we scored BingX
We scored BingX across 46 individual data points, including ease of use, cryptocurrencies supported, fees, features, customer support, and more. Our expert reviewers also applied their own experience with the platform when judging subjective qualities like ease of use and customer service.
About BingX
Founded in 2018, BingX has emerged as a leading cryptocurrency exchange, serving more than 10 million users worldwide. The exchange offers spot day trading platforms for crypto, derivatives, copy trading, and asset management solutions.
BingX is a well-integrated platform that focuses heavily on social trading and provides users with extensive copy trading features. Moreover, BingX caters to traders of all levels with its comprehensive suite of services.
BingX won the “Best Exchange Broker” award from TradingView in 2021. The exchange aims to be the “peoples’ exchange” by connecting users with an active community of expert traders.
BingX fees
Deposit and withdrawal fees
| Deposit method | Deposit fees | Withdrawal fees |
| Bank account | 0 | Withdrawal fee varies by blockchain network |
| Debit card | 0 | Withdrawal fee varies by blockchain network |
| Credit card | 0 | Withdrawal fee varies by blockchain network |
| PayPal | 0 | Withdrawal fee varies by blockchain network |
Trading fees
| Market | Buy (taker) | Sell (maker) |
| Spot market | 0.1% | 0.1% |
| Perpetual Futures | 0.02% | 0.05% |
| Standard Futures | 0.045% when closing a position |
BingX supported cryptocurrencies
BingX supports more than 750 different cryptocurrencies and over 830 different trading pairs. The exchange supports all popular coins, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), as well as several low-cap altcoins and newly listed projects.
What’s even more notable is that BingX supports cryptocurrencies in different crypto sectors, such as Metaverse, Non-Fungible Tokens (NFTs), Play-to-Earn (GameFi), and Smart Contracts.
BingX key features
| Feature | Overview |
| Lending/borrowing | Offers lending through margin trading feature, which allows users a leverage of up to 100x |
| Staking | BingX offers staking but it is only available during certain promotions/events |
| Leverage | Uses a tiered margin model approach to determine leverage with maximum leverage of up to 100x |
| Futures or derivatives | Offers derivatives trading by allowing users to trade both standard and perpetual futures |
| Trading bots | BingX’s auto trading bot is based on grid trading, which is buy low and sell high |
| Sign up bonus | Offers a sign-up bonus of up to $5,000 USDT |
| Copy trading | It allows novice traders to mirror the positions of experienced leaders automatically |
| BingX Wealth | It allows users to earn passive income on their crypto holdings |
| Convert | BingX refers to it as the “easiest way to trade” as it allows users to convert a crypto in their Fund Account into another crypto |
BingX app review
BingX has a mobile app for both Android and iOS. The app works very similar to the desktop version, allowing users to trade seamlessly. Moreover, features like price alerts and news feeds enrich the mobile trading experience by providing users with accessibility and convenience.
Bing X Android app has more than 5 million downloads and a rating of 4.3, while on the App Store, it has a rating of 4.9.
User ratings of BingX
| Platform | Rating | Number of reviews |
| Google Play | 4.3 | 33k+ |
| Apple Store | 4.9 | 103 |
| Trustpilot | 2.2 | 322 |
BingX Customer satisfaction
BingX, overall, has a positive user sentiment. Most users have praised the platform for being easy to use and user-friendly. Some have also applauded the exchange’s wide selection of cryptocurrencies and low fees.
A few users, however, have complained about issues with withdrawals, but overall the exchange ranks high in customer satisfaction.
“I’m trading daily in BingX since last April and never had any problem, they offer me free vouchers on spot trading and futures, pretty good and easy to use exchange,” One user review read on Trustpilot.
BingX customer support
BingX has mixed user reviews on its customer support. Some users found the support to be quick and responsive, while some complained of facing trouble reaching support or getting their issues resolved.
BingX allows users to contact customer support through email, social media (Instagram, Facebook, X, and more), and raising a ticket. The exchange also has an extensive Help Center and FAQs, which help users find answers to many of their exchange-related queries.
Is BingX safe?
BingX is a registered exchange that focuses heavily on security and compliance.We considered the below factors to determine whether or not BingX is safe:
- Security: The exchange maintains a stringent security system to ensure the platform, user funds, and user data are completely safe. BingX regularly reviews operation and maintenance databases and has also implemented dynamic monitoring of price abnormalities.
- Insurance: The platform implements an insurance fund mechanism, which provides financial guarantees for normal transactions and compensates users for losses due to unforeseen risks.
- Proof-of-reserves (PoR): Proof-of-reserves ensures that the exchange holds sufficient reserves. BingX regularly verifies its PoR from third-party auditors, including Mazars.
- Risk management: The exchange uses a comprehensive risk management protocol, as well as 2FA verification and advanced AI technologies to help users manage risk. Moreover, the platform uses bank-grade custody solution and employs security experts to counter potential threats.
- Strategic partnership: BingX’s collaboration with SlowMist, a blockchain security firm, reveals that the exchange is very focused on boosting security across various aspects of the cryptocurrency industry. Moreover, the platform encourages user participation in boosting security through bounty programs.
- Compliance: BingX holds several licenses and regulatory approvals, such as from AUSTRAC (the Australian government agency), FinCEN (a bureau of the U.S. Department of the Treasury), FINTRAC (Canada’s financial intelligence unit), and FCIS (the regulatory body in Lithuania), suggesting the exchange complies with the regulations.
How to sign up on BingX
Follow the below steps to sign up and start trading on BingX:
Step 1: Visit the official BingX website and select Login/Signup in the top right corner. Users get multiple sign-up options: email, phone number, or even with their Google account.
Step 2: You will now have to fill in your personal details, including name, phone number, and email address. You will also be asked to create a strong password (at least 8 characters long, having both letters and numbers). Enter the referral code if you have any.
Step 3: Submit your form. Now, the system will send an activation mail to verify your email ID.
Step 4: Your account will automatically get activated once you confirm your email address. The system will send a 6-digit OTP on your mobile number, which you need to enter after signing into your new BingX account.
After you create your BingX account, it is vital that you strengthen the security of your account and adhere to financial regulations by verifying your identity and completing KYC.
To verify your identity, locate the “Identity Verification” section on the BingX dashboard. You will be asked to enter your personal details, including your full name, date of birth, and current address. You will also be asked to send a scanned copy of a government-issued ID, such as a passport or driver’s license.
Verification also includes taking a selfie. The whole verification process might take a few minutes and it is important that you follow the on-screen instructions diligently.
After the verification is complete, you can start depositing funds into your account by clicking the “Deposits” button in the “Assets” section on your dashboard.
Exchanges like BingX
| Exchange | Payment methods | Cryptocurrencies | No KYC account limits |
| Coinbase | Debit Card, Wire Transfer, Apple Pay, Google Pay, PayPal | 240+ | N/A |
| Kraken | Card Payments (Visa and Mastercard), Apple Pay, Google Pay | 200+ | N/A |
| Phemex | Credit Card, Debit Card, Bank account, Apple Pay | 200+ | Daily withdrawal limit of $50,000 |
| Poloniex | Credit Card, Debit Card, Simplex Bank Account | 400+ | Daily withdrawal limit of $10,000 |
