If you are wondering if BingX is a reliable and secure crypto exchange, you have come to the right place. In this BingX review, we will share everything that we experienced when thoroughly testing the exchange.
Here, we have a complete review of BingX, discussing its features, fees, trading options, security measures, customer support, and much more. So, read till the end to decide if it is the right crypto exchange for you.
BingX At A Glance
| Stats | BingX |
|---|---|
| 🚀 Founded | 2018 |
| 🌐 Headquarters | Singapore |
| 🔎 Founder | Josh Lu |
| 👤 Active Users | 12+ m |
| 🪙 Supported Cryptos | 620+ |
| 🪙 Futures Contracts | 290+ |
| 🔁 Spot Fees (maker/taker) | 0.1% / 0.1% |
| 🔁 Futures Fees (maker/taker) | 0.02% / 0.05% |
| 📈 Max Leverage | 150x |
| 🕵️ KYC Verification | Not Required |
| 📱 Mobile App | Yes |
| ⭐ Rating | 4.7/5 |
| 💰 Bonus | $5,000 |
BingX Overview
BingX was founded in 2018 by Josh Lu and quickly became a popular global player, with more than 5 million registered users. With over 620 supported assets, low fees, and a daily trading volume of over $18 billion, BingX is one of the most active crypto exchanges in the world.
The platform is well-designed, making it a beginner-friendly option. However, BingX also offers advanced options and features such as 150x leverage, cross and isolated margin mode, advanced orders, and more, making BingX a great option for experienced crypto traders.
BingX received the “Best Exchange Broker” award in 2023 from TradingView, the leading platform for charting and analysis.
Currently, BingX securely operates in more than 180 countries without KYC requirements. Moreover, multiple authorities and legal bodies regulate its actions and operations. Briefly, BingX appears to be a legitimate and secure exchange to buy, sell, trade, and convert crypto.
Aside from trading, BingX offers passive income products, including copy trading, earning, and automated grid bots.
What we love about BingX is its free demo trading feature. This is perfect for beginners or traders who want to try out new strategies without having to risk their hard-earned money.
BingX Signup & KYC
Signing up on BingX just requires an email and a password. Alternatively, you can sign up using your phone number. The whole signup process takes no longer than 30 seconds.
BingX is a no-KYC crypto exchange. That means you can get started with trading right away without having to verify your identity. You can deposit, trade, and withdraw funds on BingX without identification.
However, without KYC verification, you have some account limitations. Unverified users can not make credit/debit card purchases, nor can they deposit fiat via bank transfer. Additionally, unverified users have a daily withdrawal limit of $50,000.
If you want to verify your account, you must provide your country of residence, a government-issued ID, Passport, or Driver’s license, and a selfie. After verification, you get full access to all payment methods and a 24-hour withdrawal limit of $5,000,000.
BingX Supported Assets
BingX exchange supports more than 620 crypto coins to trade, buy, sell, and convert. The most common examples include Bitcoin, Ethereum, Tether, Ripple, Cardano, DogeCoin, Polygon, Solana, Uniswap, Tron, etc.
To top it all off, BingX supports traditional finance assets, including Stocks, Forex, Indices, and Commodities.
- Cryptocurrencies: BingX offers over 620 cryptos, including all popular coins such as Bitcoin, Ethereum, or Cardano. Even new coins and meme coins, such as DOGE or WIF, are supported.
- Stocks: If you want to trade stocks, you can access over 50 options, including Tesla (TSLA), Apple (AAPL), Google (GOOG), NVIDIA (NVDA), and many more.
- Forex: For Forex trading, BingX supports 40+ trading pairs of currencies, including the following currencies: USD, EUR, GBP, CAD, AUD, CHF, JPY, and more.
- Commodities: BingX offers 15+ commodities, including Gold, Crude Oil, Silver, Heating Oil, Natural Gas, Sugar, and more.
- Indices: BingX supports 14 indices, including all major indices such as S&P 500, NASDAQ, DAX, DOW, and more.
Below, you can see a table with all supported assets on BingX.
| Asset | How Many |
| Cryptocurrencies | 620+ |
| Stocks | 50+ |
| Forex | 40+ |
| Commodities | 15+ |
| Indices | 14 |
BingX Trading Features
BingX is a professional crypto exchange packed with tons of products, features, and services for active traders.
1. Spot Trading
BingX provides a convenient spot trading experience with a beginner-friendly design. BingX offers over 620 cryptos for spot trading, mostly paired with USDT as collateral. You can also set price alerts to get quick notifications when a certain asset hits a particular value. The real-time charts are provided by TradingView.
Multiple order types are available, including Market, Limit Take Profit, and Stop Loss orders.
2. Crypto Futures/Derivatives Trading
For experienced traders, BingX offers perpetual futures trading for over 280 contracts. What makes BingX unique is the availability of traditional finance assets. BingX supports not only cryptocurrencies for futures trading with 150x leverage, but BingX even offers stocks, forex, indices, and commodities trading with up to 200x leverage. This makes BingX the perfect all-rounder for day traders.
Compared to spot trading, on the BingX Perpetual Futures dashboard, you will have more customizations and more advanced order types. BingX also offers a hedge mode with cross-leverage. Alternatively, you can select isolated mode.
You can see a list of BingX-supported order types below:
- Market Order
- Limit Order
- Trigger Order
- Trailing Stop Order
- Post Only Order
3. Standard Futures Trading
As mentioned earlier, BingX offers not only crypto trading but also traditional finance assets, including stocks, forex, commodities, and indices. These assets can be accessed in the standard futures section with up to 200x leverage.
Standard futures work differently from typical crypto futures. BingX standard futures comply with global trading market rules. That means there is an open and closing time for every market. Trading on weekends is also not possible.
4. Demo Trading
One of BingX’s greatest features is its free demo trading option. Demo trading is directly integrated into BingX and completely free. You practice trading without risking your hard-earned money. This is perfect for beginners and traders who want to try out new strategies.
The BingX demo trading feature can be accessed in the top right corner of the futures trading dashboard. Simply click on “Demo” and start practicing.
Read our step-by-step BingX demo trading guide to learn how to get started.
BingX Trading Fees
BingX is among the most competitive platforms with low trading fees.
- Spot: BingX Spot fees are 0.1% maker and 0.1% taker.
- Crypto Futures: BingX charges 0.02% maker and 0.05% taker fees for cryptocurrency futures trading.
- Standard Futures: A 0.02% maker and 0.045% taker fee apply for standard futures trading.
The table below shows a summary of BingX default fees.
| Trading Type | Maker Fee | Taker Fee |
| Crypto Spot | 0.1% | 0.1% |
| Crypto Futures | 0.02% | 0.05% |
| Standard Futures | 0.045% | 0.045% |
Standard futures refers to traditional finance futures such as stocks, commodities, forex, and indices.
Based on your 30-day trading volume, you can reach higher BingX VIP levels, unlocking higher fee discounts. When reaching “Supreme VIP”, your fees are as low as 0% maker and 0.028% taker.
BingX Products & Services
Aside from trading products, BingX offers great products to earn additional income. These products include copy trading, automated bot trading, and a wealth section to earn passive income.
Copy Trading
BingX copy Trading has been a great assistant for beginners since it allows them to follow an expert trader and learn different techniques while earning potential income. BingX allows copy trading for future and spot traders, allowing beginners to filter experts through various categories. They can select the professionals according to ROI, APY, conservative approach, rising stars, trending ones, and others.
On the other hand, you can get a handsome commission from your follower’s profit as an expert trader. You can apply for the position if you have 110 UST in your balance, have been trading for over 30 days, and have a 40% win ratio in this duration. The platform shares up to 20% of the followers’ profit with professional traders.
Grid Bot Trading
You can also use BingX trading bots, known as grids, to automate your trading and earn profits while you are sleeping. BingX has a large reservoir for its grid users in both spot and futures trading. Currently, its Futures grid has more than 27,000 users, with a total investment of $41.6 billion. In contrast, the Spot grid has over 160,000 users, investing $39.8 million.
There’s also another particular Spot Infinity Grid, providing non-stop arbitrage and not having any upper limit. It has already invested $1.6 million, according to BingX.
Learning Center
BingX also has a diversified learning center for its newcomers, regular users, and crypto beginners. The BingX Academy provides a complete platform to learn about the crypto world, its terms, and its methodologies. The Help Center has numerous articles, guides, and tutorials on various platform issues. It is a helpful section for beginners and old users facing certain complications.
One of its unique sections is BingX Glossary, an excellent area to learn about several words, terms, abbreviations, and jargon. The glossary doesn’t only cover words and terms from the crypto world, but you will also find definitions from trading, finance, commerce, and other departments in alphabetical order. Lastly, BingX Blogs will update you about different news, events, promotions, insights, and announcements from the platform.
P2P Trading
If you are looking for a P2P crypto exchange, BingX has you covered. The peer-to-peer trading platform on BingX is well-designed and very user-friendly. With over 100 supported payment methods and 40 fiat currencies, the BingX P2P market offers a great opportunity to on- and offramp funds through various payment methods.
However, when compared to other P2P trading platforms such as OKX and Binance, BingX’s P2P platform is relatively small.
Read our step-by-step BingX P2P guide to learn more.
Reasons to Choose BingX
Apart from its various trading options and other features, the platform is also an excellent recommendation for many reasons. Here are a few aspects of why you should start your crypto trading at BingX.
New User Bonus
When signing up on BingX with a referral code, new users can claim massive bonuses worth $5,000. This is a great incentive to get started with trading digital assets on BingX.
Learn more about BingX bonuses and rewards on our full, step-by-step BingX referral bonus guide.
Minimal & Friendly UI
BingX has designed an elegant and simple user interface (UI), which is extremely convenient for navigation and usability. It is definitely suitable for beginners and newcomers since they can find their relevant page in just one click. Moreover, it helps regular users jump to the right section from the top menu quickly. Plus, pleasing and minimal web designs with cool blue color codes are relaxing to the eyes.
Profitable Affiliate Program
The platform also has a highly rewarding affiliate program that you can easily join. At the BingX affiliate program, you can earn up to 60% rebate, higher than many affiliate programs offered by other crypto marketplaces. After joining the program, you also get additional benefits as a member, including faster deposits and withdrawals, even lower trading fees, 1-to-1 customer support, bonuses up to 100,000 USDT, and much more.
Diverse Trading Instruments
Unlike many other crypto trading platforms, BingX doesn’t only allow you to trade spots and futures. It also has different trading options to diversify your portfolio. You can trade stocks (Tesla, Apple, Amazon, Google), forex (AUD/EUR, AUD/USD, CAD/JPY, EUR/GBP), indices (S&P 500 Index, Australia 200, DAX, FTSE 100), and commodities (gold, silver, crude oil, natural gas).
BingX Deposits & Withdrawals
A major perk of BingX is that it offers fiat deposits and withdrawals. You can currently deposit and withdraw 6 fiat currencies, including USD, EUR, GBP, CAD, JPY, and CHF. Supported payment methods are listed below:
| Deposit Method | Fiat Currency |
| Domestic Wire Transfer | USD |
| ACH Transfer | USD |
| SEPA Transfer | EUR, CHF |
| Faster Payments Wire Transfer | GBP |
| SWIFT Transfer | CAD, AUD, JPY |
Additionally, you can buy cryptocurrencies directly on BingX using credit/debit cards with over 40 fiat currencies. For some fiat currencies, BingX supports Advcash wallet payments.
Learn more in our BingX deposit and withdrawal guide.
BingX Limitations
Besides various benefits, it also has some limitations that set it back from its competitors by a huge margin. These don’t make the platform a bad choice for what it already offers. Overall, it will be great if the developers and executives soon make these features available.
Lacks Staking
One of the major setbacks is staking unavailability. Although BingX supports a few passive income products such as copy trading, automated bots, and earning, it doesn’t allow you to stake them on the platform.
The unavailability is also evident as the exchange doesn’t have Launchpad or Launchpool, which are commonly seen on other platforms. So, you will be required to consider another exchange if you want to stake cryptocurrencies and earn a passive income. Better crypto exchanges for passive income are Binance and Bybit.
BingX Security & Regulations
BingX appears to be secure, practicing the highest security measures. That’s why it has never been hacked since it was founded. Many countries’ authorities regulate the platform, including FinCEN, MSB, and DCE. Moreover, it is also licensed in many major countries like Australia, Canada, and the European Union.
Cer.live has awarded BingX with an A rating, reaching 82.90/100 points. This places BingX at rank 28 of all CER-certified crypto exchanges.
Certik has also done an audit for BingX with a final BB rating, which places BingX in the upper half of the most secure exchanges.
What we love about BingX is that they provide 100% proof of reserves. That means all customer assets are backed 1:1 on the platform. This is to prevent bank runs and comingling of customer funds a la FTX. BingX updates its proof of reserves consistently on the 15th of each month.
For enhanced fund security, BingX stores the majority of customer funds in multi-sig cold storage, meaning they are not connected to the internet.
Although BingX doesn’t require KYC to deposit or trade crypto, those verifying their identity will go through the complete process. Additionally, it fulfills Anti-Money Laundering (AML) policies, discouraging illicit and malicious activities. As a user, you can also create multiple firewalls, like 2FA, different depositing and withdrawing passwords, device codes, and anti-phishing codes. Lastly, if you are done with BingX, you can fully delete your account.
Learn more about the BingX verification process in our BingX KYC guide.
BingX Customer Support
The BingX customer support team is pretty responsive and usually answers questions within 2 minutes. At the bottom right corner, you can easily access their multiple help center quick links or connect with a 24/7 live chat agent by typing your specific question. Otherwise, their detailed help center has well-crafted and in-depth guides for almost every issue a user may face.
Conclusion
BingX is a reputable, user-friendly, and reliable platform, excellent for beginners. Its minimal UI is pleasing, while the sufficient trading options don’t overwhelm them. Plus, its well-equipped learning area is a treasure for early birds. Although it doesn’t allow staking, fiat deposits, and withdrawals, the other options are enough for beginners to start their trading career.
What makes BingX stand out most is its impressive offering of tradable assets. No matter if you want to trade cryptos, stocks, forex currencies, indices, or commodities, BingX has you covered. Advanced traders can enjoy low fees, advanced futures order types, and up to 150x leverage.
Overall, BingX appears to be an excellent choice for traders of all kinds.
FAQs
Is BingX Legit?
Yes, BingX is a legitimate exchange that has been operating since 2018. The platform has over five million users, trading over $10 billion worth of crypto daily. It represents the platform’s people’s trust and legitimacy, meaning you can choose it for your trades.
Is BingX Secure?
Yes, BingX is a secure platform with all the essential security measures. Multiple regulatory authorities of different countries monitor its activities in their states, while the platform itself complies with all legal policies. Plus, it has never been hacked. So you can trade without worries.
Does BingX Require KYC?
Luckily, BingX hasn’t made KYC verification mandatory to operate on the platform. So, you can deposit and trade crypto without verifying your identity. However, withdrawing crypto requires verification.
Can You Use BingX in the USA?
Unfortunately, you cannot use BingX in the USA. Although FinCEN (a leading US licensing authority) has granted BingX an MSB license, the exchange doesn’t fully operate in America. Here, you can check out the restricted countries of BingX.
What are BingX fees?
BingX charges 0.1% maker and 0.1% taker fees on the spot market. Crypto perpetual futures fees start at 0.02% maker and 0.05% taker. Standard futures (traditional finance assets) have a 0.045% maker and 0.045% taker fee. Based on your 30-day trading volume, you will reduce your trading fees as you unlock discounts.
