BingX Review 2025: Fees, Security, Pros & Cons

Key Takeaways

  • BingX is a popular crypto copy trading platform that offers a variety of trading features, such as spot trading, futures contracts, and grid trading bots, plus other financial markets like stocks and forex.

  • With operations in 100+ regions and compliance with regulatory standards in places like the European Union and Australia, BingX ensures a secure and legally compliant trading experience.

  • BingX is not available in the U.S. due to regulatory limitations, so the exchange may restrict or deny services to users based in United States.

  • It is designed to be accessible and easy to use, with features like demo trading and a clean interface, plus support for over 750 coins and tokens.

BingX Review 2025: Fees, Security, Pros & Cons

Thinking about buying Bitcoin or other cryptocurrencies? You’ll need a safe and easy platform to trade them, and that’s where crypto exchanges come in. In this guide, we’ll give you a BingX review, breaking down what it offers, how it works, and if it’s a good fit for you, especially if you’re new to the crypto world.

Bingx logo

User Score

9.7

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BingX Review: At a Glance

Features BingX
Founded 2018
Headquarters Singapore
Founders Josh Lu
Best For Crypto Copy Trading
Trading Features Spot, futures, copy, grid trading bots, staking, and P2P market
Supported Coins 750+ tokens and 830 trading pairs
Fees
  • 0.1% maker/taker for spot
  • 0.02% maker and 0.05% taker for futures
Maximum Leverage 125x
Licenses Europe and Australia
Security 2FA, anti-phishing code, PoR data, insurance fund, SSL
Customer support Email, help center, and live chat
Mobile App Android and iOS

What is BingX Exchange?

BingX is a cryptocurrency exchange that began in 2018. This trading platform is known for offering various trading services to over 10 million traders around the world. Here, you can engage in spot trading, derivatives, copy trading, and grid trading, making it suitable for both new and experienced cryptocurrency traders.

BingX platform

The exchange operates globally, with branches in Asia, Oceania, Europe, and South America. It is registered and regulated in several countries, including the European Union and Australia, ensuring compliance with local financial regulations. This global reach and regulatory compliance make BingX a reliable platform for trading cryptocurrencies.

However, BingX is not legally available in the U.S. due to strict regulatory requirements for crypto exchanges. As a result, Americans are not officially permitted to trade crypto on BingX. While users in some regions may access certain services through a VPN, doing so may violate BingX’s terms of service and U.S. regulations.

The platform security and transparency is emphasized. They have a 100% Proof of Reserves, verified by global auditing firms like Mazars, ensuring that all user assets are fully backed and secure. Additionally, BingX has passed security audits by CertiK, a leading security-focused ranking platform.

Pros of BingX

  • A clean and intuitive interface, making it easy for new traders to trade crypto
  • The diverse selection of 750+ cryptocurrencies allows for portfolio diversification
  • Competitive fees for new users and low fees for large-volume traders
  • Advanced trading features like derivative market, copy trading, and automated trading bots
  • Easy to use BingX app for Android and iOS devices

Cons of BingX

  • Margin trading is not available compared to other exchanges like OKX
  • Limited payment methods for fiat currency deposits and withdrawals
  • Not available in the United States

Key Features of BingX Exchange

Futures and Spot Trading

BingX’s spot market supports over 750 cryptocurrencies, allowing users to directly buy and sell digital assets at the current market price. This is perfect if you want to acquire crypto for immediate holding.

BingX’s Spot trading offers two conveniences:

  • Quick Buy and Sell: Execute trades swiftly at the prevailing market price. You can also perform this part with fiat currencies.
  • Zero-fee Crypto Conversion: Instantly convert between 100+ cryptocurrencies without incurring any fees. This is a great way to diversify your crypto portfolio without worrying about additional charges.

BingX's spot trading platform

The trading platform provides two types of futures trading:

  1. Standard Futures: These contracts have a set expiry date. You agree to buy or sell a specific crypto asset at a predetermined price on that date.
  2. Perpetual Futures (USDT-M and Coin-M): Unlike standard futures, perpetual contracts have no expiry. You can hold them indefinitely and leverage them for potentially amplified returns. BingX offers perpetual futures with two margin modes: USDT-margined (USDT-M) and Coin-margined (Coin-M). USDT-M uses Tether (USDT) as the collateral, while Coin-M uses the specific cryptocurrency of the contract (e.g., BTC-M for Bitcoin futures).

Also, BingX offers high leverage, reaching a maximum of 125x, allowing traders to control a larger position with a smaller amount of capital.

BingX's futures trading platform

BingX offers two margin modes for managing your trades:

  1. Cross Margin: This mode utilizes your entire account balance as collateral for all open positions. While it allows for potentially bigger profits, a loss in one position can lead to a margin call and liquidation of your entire portfolio across all open positions.
  2. Isolated Margin: Here, you allocate a specific amount of margin for each individual position. This limits the risk associated with a single trade and prevents a domino effect of liquidations across your holdings.

BingX Order Types

While BingX offers standard market orders (buying/selling at the best available price) and limit orders (buying/selling at a predetermined price), they also provide advanced order types for more strategic trading:

  • Take Profit (TP)/Stop Loss (SL): These automated orders help you lock in profits or minimize losses. A TP order automatically sells your position when it reaches a specific profit target, while an SL order automatically sells your position to limit potential losses if the price falls below a set point.
  • Trailing Stop: It automatically adjusts your stop-loss price as the market moves favorably. For example, with a trailing stop set at 5% below the current market price, if the price increases by 2%, your stop-loss price will also rise by 2% to lock in profits.
  • Post-Only Orders: These orders only get fulfilled if they add liquidity to the order book. This can be useful for ensuring your order doesn’t accidentally take away liquidity from the market and result in extreme price slippage.
  • Trigger Orders: These orders execute when the market price reaches a specified trigger price (set by you). This is useful for entering trades at specific market conditions.

BingX Copy Trading Feature

The BingX platform offers a copy trading platform that lets you replicate the trades of experienced traders automatically. This service is available for both futures and spot markets. The platform supports over 17,000 professional elite traders and has executed 600 million copy trading orders so far.

Copy trading on BingX is simple. You select an elite trader whose trades you want to copy. Once selected, any trades the elite trader makes are automatically replicated in your account. There is a copy trading feature called “copy by position”, which ensures you cannot allocate more than a trader’s percentage of their portfolio to a trade, effectively managing risk. It also provides detailed statistics about traders, including their earnings, number of open positions, and risk ratings, helping you make proper decisions about whom to follow.

BingX Copy Trading Feature

BingX Wealth

BingX Wealth is a feature offered by the BingX crypto exchange that allows you to earn passive income on your crypto holdings. It’s designed to be user-friendly and caters to different investment styles, whether you prioritize safety or aim for growth.

BingX Wealth includes two main components: Simple Earn and Shark Fin.

Simple Earn

Simple Earn is a sub-feature that provides two options for earning on your crypto: Fixed Earn and Flexible Earn.

  1. With Fixed-Term savings, you can choose between 7-day and 90-day durations, offering predictable returns with competitive Annual Percentage Yields (APYs). Typically, the longer the maturity period, the higher the interest rate you can earn. For example, you can earn up to 2% APR on BTC with a 90-day lockup period.
  2. Flexible Earn offers more flexibility for your investments. You can subscribe and redeem your crypto holdings at any time. While the interest rates on Flexible Earn might be slightly lower compared to Fixed Earn, it gives you the freedom to access your crypto whenever you need it. For example, BingX offers up to 10% APY on USDT with flexible terms.

Simple Earn

Shark Fin

Shark Fin is another structured product designed to offer higher returns based on accurate market predictions. It allows you to earn yields based on your predictions of the price movements of BTC (Bitcoin) or ETH (Ethereum).

If you anticipate a market rise, you can choose a Bullish Shark Fin, which optimizes yields when the market increases. Conversely, if you predict a market decline, you can opt for a Bearish Shark Fin, which provides higher returns if the market remains within preset limits.

Shark Fin

Automated Grid trading

BingX Grid Trading automates your cryptocurrency trading strategy, letting you buy low and sell high without constantly watching the market. They offer three main Grid Trading options:

  1. Spot Grid: This is a great option for new traders. Imagine you set a price range of $10k to $20k for Bitcoin (BTC) with a total investment of $100. BingX will automatically divide your $100 into smaller buy orders throughout that price range. So, if the price of Bitcoin drops to $15k, BingX will automatically buy some BTC. Then, if the price rebounds to $18k, BingX will sell some of that BTC for a profit. This captures small price movements and aims to profit from market volatility.
  2. Futures Grid: This is similar to the Spot Grid but is used for futures trading with leverage.
  3. Spot Infinity Grid: This advanced option is designed for extended periods of sideways market movement. Let’s say, you set up a Spot Infinity Grid for a cryptocurrency like LTC. The grid continues to buy more Litecoin if the price drops and sells portions if the price rises, without any upper or lower limit. This helps accumulate more Litecoin over time while also profiting from price swings.

Automated Grid trading

BingX Supported Cryptocurrencies and Trading Pairs

The exchange supports over 750 different cryptocurrencies to trade, along with 830+ different trading pairs. This means you can trade popular coins like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), as well as many other low-cap altcoins and newly listed projects.

To make things even more convenient, BingX uses stablecoins like USDT, USDC, and DAI in a lot of their trading pairs. The exchange also supports a comprehensive range of cryptocurrencies in different crypto sectors, including those associated with:

  • Metaverse
  • Non-Fungible Tokens (NFTs)
  • DeFi
  • Play-to-Earn (GameFi)
  • Smart Contracts
  • Layer 1 and Layer 2 blockchain solutions
  • RWAs

And more.

Bingx logo

User Score

9.7

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BingX Security Measures: Is It Safe & Legit?

BingX understands that the security of your cryptocurrency is a top priority. That’s why they’ve implemented a robust set of features to keep your assets and data safe. Here’s a breakdown of these features:

  • Two-Factor Authentication (2FA): You can either use Google Authenticator or an SMS code. This code changes all the time, making it super tough for hackers to crack. 2FA is a must-have for keeping your account secure.
  • Proof of Reserves (PoR): This transparency ensures that the exchange holds sufficient reserves and is financially stable. Your asset holdings have been verified by authoritative auditors like Mazars. You can check the Merkle Tree, which the exchange publishes on the 1st and 15th of each month.
  • Fund Password: It’s different from your login password and is required whenever you want to withdraw or move your crypto. Even if someone hacks your account, they won’t be able to touch your funds without this special password.
  • Whitelist Your Withdrawal Addresses: You can only withdraw funds to addresses on this list, preventing unauthorized withdrawals and keeping your crypto secure.
  • Anti-Phishing Code: BingX gives you a personal anti-phishing code that appears in all their real emails. This code helps you tell the difference between real emails from BingX and fake ones from phishers.
  • Encrypted Connections: The exchange uses SSL encryption, a technical way of saying they scramble the information you send between your browser and their servers.

Proof of Reserves (PoR)

BingX Regulatory Compliance (Licenses)

BingX holds several licenses and regulatory approvals to ensure compliance with financial and legal standards. Here are the key licenses:

  1. Registered with AUSTRAC, the Australian government agency responsible for preventing money laundering and terrorism financing
  2. It is registered as a Money Services Business (MSB) with FinCEN, a bureau of the U.S. Department of the Treasury.
  3. BingX is registered with FINTRAC, Canada’s financial intelligence unit responsible for monitoring financial transactions
  4. A license from the FCIS, the regulatory body in Lithuania that oversees financial transactions to combat money laundering and financial crimes.

BingX Fees Review

Spot Trading Fees

BingX uses a maker-taker fee model for spot trading. Makers are users who add liquidity to the order book by placing limit orders. Takers are users who remove liquidity from the order book by fulfilling existing orders. BingX rewards makers with a slight discount compared to takers.

For most major cryptocurrency pairs, like BTC/USDT and ETH/USDT, BingX charges a 0.1% fee for both makers and takers. This means for every $100 trade, you’d pay a $0.10 fee. However, The fees might vary slightly for specific pairs due to different liquidity levels and trading volumes.

Spot Trading Fees

Futures Trading Fees

As discussed above, there are two types of futures trading on the platform: Perpetual Futures and Standard Futures. The fee structure differs for each type:

Perpetual Futures Trading Fees:

  • Maker Fee: 0.02%
  • Taker Fee: 0.05%

Standard Futures Fees is 0.045%

These fees apply when closing a position in standard futures trades. Perpetual futures trading fees are charged for both opening and closing positions.

Futures Trading Fees

Deposit & Withdrawal Fees

The good news is that BingX doesn’t charge any deposit fees. You can transfer your crypto to your BingX account without any deductions. However, there might be a minimum deposit requirement depending on the cryptocurrency. Make sure to check before transferring to avoid delays.

BingX charges a flat fee for each withdrawal, which varies depending on the specific cryptocurrency. This fee covers the cost of processing the transaction on the blockchain network. Since network conditions can change, withdrawal fees can fluctuate.

You can check the full BingX fee structure here.

BingX Deposit & Withdrawal Fees

VIP Trading Fees Discount

The BingX platform offers a VIP program that provides discounted fees based on the user’s trading volume and other criteria. The discounts apply to both spot and futures fees.

VIP Level 30-Day Spot Trading Volume (USDT) Maker Fee (Spot) Taker Fee (Spot) 30-Day Futurest Volume (USDT) Maker Fee (Perpetual Futures) Taker Fee (Perpetual Futures)
VIP 1 ≥ 1,000,000 0.035% 0.06% ≥ 10,000,000 0.014% 0.04%
VIP 2 ≥ 2,000,000 0.02% 0.05% ≥ 20,000,000 0.012% 0.0375%
VIP 3 ≥ 4,000,000 0.015% 0.045% ≥ 50,000,000 0.01% 0.035%
VIP 4 ≥ 6,000,000 0.0125% 0.0375% ≥ 100,000,000 0.008% 0.0315%
VIP 5 ≥ 8,000,000 0.01% 0.0325% ≥ 200,000,000 0.006% 0.03%

BingX also offers a Supreme VIP level designed for VIP users with extremely high trading volumes. For futures contract traders, you must have over 600 million in volume, which results in a 0% maker fee and 0.028% taker fee.

BingX Trading Account and Minimum Deposit

BingX offers several account types to cater to different trading needs, including a Demo Account for practice and VIP tiers that provide additional benefits based on trading volume and asset balance. This tiered structure ensures that both new and high-volume traders can find a trading account type that suits their requirements.

To open an account on BingX, users need to make a minimum deposit, which can be as low as 0.001 BTC or 1 USD/USDT. This low entry barrier makes BingX accessible to a wide range of traders. Additionally, BingX does not impose fees for depositing funds, although specific payment systems might charge their own fees. The minimum trade amount is set at 10 USD, allowing for flexibility in trading decisions.

BingX also supports deposits in various fiat currencies, facilitating cryptocurrency trading for users across different regions. This inclusivity ensures that traders from diverse backgrounds can easily fund their accounts and start trading.

How to Get Started with BingX?

Bingx logo

User Score

9.7

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Step 1: Creating a BingX Account

Navigate to the BingX website and head over to the top-right corner of the homepage. You’ll find a button labeled “Sign Up” – click on it to begin the registration process.

The platform offers multiple sign-up options: email, phone number, or even your Google account. Once you’ve filled in your details, click “Sign Up”. As a security measure, you’ll need to solve a simple puzzle. After completing the puzzle, a six-digit verification code will be sent to your email address. Enter this code on the website to finalize your registration.

Step 1: Creating an Account

Step 2: Verifying Identity

On your BingX dashboard, locate the “Identity Verification” section. Here, you’ll need to provide some personal details like your full name, date of birth, and current address.

Additionally, BingX will require a scan of a government-issued ID, such as a passport or driver’s license, for verification purposes. Be sure to follow the on-screen instructions diligently. While the verification process might take a brief period to finalize, BingX will notify you as soon as it’s complete.

Step 2: Verifying Identity

Step 3: Depositing Funds

You can start depositing funds into your account. Head over to the “Deposits” button in the “Assets” section, where you’ll be presented with a variety of deposit options encompassing both cryptocurrencies and fiat currencies.

For depositing cryptocurrency, choose the specific coin you want to transfer. BingX will then provide a unique deposit address specifically for your account. This address acts as the destination for your crypto funds; carefully transfer them from your wallet to this address to complete the deposit process.

Step 3: Depositing Funds

Step 4: Start Trading Crypto

Head over to the “Markets” section on the main menu. This is where you’ll find a comprehensive list of cryptocurrencies available for trading. To initiate a trade, simply click on the specific cryptocurrency that piques your interest. This will whisk you away to a dedicated trading page featuring a live chart that visually depicts the price fluctuations of your chosen coin.

Now, look towards the right side of your screen where you will see buy and sell options. For new traders, a market order is the recommended approach, as it executes your trade at the current market price. Alternatively, you can opt for a limit order. Simply enter the amount you wish to trade and click the corresponding “Buy” button to set your trade in motion.

Step 4: Start Trading Crypto

BingX KYC

BingX offers a secure and compliant trading environment through its tiered KYC (Know Your Customer) verification system, offering Basic and Advanced levels, each with distinct benefits.

Verification Status Daily Deposit Limit Monthly Deposit Limit 24h Max. Withdrawal P2P Launchpad
Unverified 20,000 USDT
Basic KYC 5,000 USDT 50,000 USDT 20,000 USDT
Advanced KYC Unlimited Unlimited 5,000,000 USDT

Key Advantages of KYC Verification

  • Enhanced Security: KYC helps protect your account and assets by ensuring only verified users can trade, reducing fraud and illegal activity risks. In case of account theft or loss, your verified KYC details can help quickly restore access and increase the chances of recovering assets. KYC also ensures BingX complies with regulations, creating a safe and transparent platform.
  • Access to Full Services: After KYC verification, you can enjoy:
  • Full Trading Experience: Advanced KYC users gain access to all BingX products, including P2P trading.
    • Exclusive Events: Join special airdrop events and earn rewards with Advanced KYC.
    • Quick Buy: Easily deposit or withdraw cryptocurrencies for better fund management.
    • Wealth Products: Advanced KYC users can subscribe to BingX Wealth products and explore investment opportunities.

KYC Verification

BingX Customer Support and User Reviews

BingX offers a few different ways to get help with your account or trading questions, including Help Center, Email and Live Chat on BingX website.

Customer Reviews of BingX seem a bit of a mixed bag with positive and negative ratings. Some users online say they’ve had great experiences and found BingX user-friendly and efficient. Others have reported facing trouble reaching support or getting their issues resolved.

Looking at user ratings of 2.3/5 on TrustPilot, BingX gets generally positive marks for its easy-to-use interface and educational resources, but some users mention limited features compared to other crypto trading platforms and a desire for more payment methods.

BingX Competitor Comparison

Features BingX Bitget KuCoin
Best For Copy Trading Copy Trading and DeFi Services Derivatives Trading
Tradable Assets 750+ 800+ 700+
Fees 0.1% maker/taker 0.1% maker/ taker 0.1% maker/taker
Derivatives Trading Yes Yes Yes
Maximum Leverage 125x 125x on BTC and 100x on altcoins 125x
Copy Trading Yes Yes
P2P Trading Yes Yes Yes
Earn Services Simple Earn and shark fin Fixed/flexible savings, BGB staking, structured products like dual investment, shark fin, and range sniper KCS staking, fixed and flexible savings, snowball, crypto lending
DeFi Wallet Yes
Launchpad Yes Yes (Spotlight)
Security Very High Very High High

For detailed information, you can also read our full Bitget exchange review and KuCoin review.

Final Thoughts

Our review highlights that BingX is a good fit for both new and experienced cryptocurrency traders because it’s safe and easy to use. They have many different ways to trade crypto, like spot trading, futures, grid and copy trading. Plus, BingX keeps your funds safe with things like 2FA and proof of reserves. They also follow the rules set by governments in many areas.

However, BingX might not be perfect for everyone. There could be fewer ways to deposit fiat currencies in your country or it might not be available where you live like USA. It also does not offer margin trading and lending services.

Bingx logo

User Score

9.7

Promotion

Get 5125 USDT Welcome Gift

Deposit & Trade This Month

BingX Exchange Review: FAQs

Can I trade in BingX without KYC verification?

Yes, you can trade on BingX without completing the full KYC (Know Your Customer) verification process. However, it’s important to note that your account will have some limitations without completing KYC like $50,000 daily withdrawal limits and no fiat deposits through P2P trading. You can increase your withdrawal limits to 5,000,000 USDT by completing identity verification.

Is BingX a reliable exchange?

BingX is a reliable and user-friendly cryptocurrency exchange, making it a good choice for many traders. It also offers a wide range of trading options, including spot trading, futures trading, copy trading, and grid trading, catering to both experienced and new traders.

The platform is known for its competitive fees, a vast selection of over 750 cryptocurrencies, and robust security measures. However, it’s important to weigh the pros and cons based on your specific needs, as some users might find limitations in payment methods or availability in certain regions.

Which country made the BingX Exchange?

BingX was founded in Singapore in 2018. Since then, it has expanded its operations globally, with branches in various regions including Asia, Oceania, Europe, and South America.

Is BingX trusted?

BingX is trusted by over 10 million traders around the world. The exchange prioritizes security and transparency, implementing measures such as 100% Proof of Reserves and undergoing regular audits by reputable firms like Mazars and CertiK.

It also employs two-factor authentication (2FA), encrypted connections, and withdrawal whitelist features to enhance user security. Its regulatory compliance in multiple jurisdictions including the EU and Australia further supports its credibility as a trustworthy platform for cryptocurrency trading.

Does BingX support demo trading?

Yes, BingX offers a demo trading feature for the crypto derivatives market only. This allows users to practice trading without risking real money, making it an excellent tool for new traders to learn trading or for experienced traders to test strategies.

Fatima Rodriguez

Fatima Rodriguez is a freelance writer that has been in financial journalism for over 5 years. With a keen interest in the evolving digital finance landscape, Fatima has a strong understanding of the crypto ecosystem and the crucial role that exchanges and wallets play in it. In her free time, Fatima enjoys meeting people, attending fintech webinars and conferences, and staying updated on the latest industry trends.

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