BingX Review 2023: Is BingX Secure? Fees and More!

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BingX is an exchange that provides users with beginner-friendly and professional trading products. This BingX review is an up-to-date, detailed analysis of BingX exchange, containing everything you need to know about BingX and whether It’s the right exchange for you.

Let’s dive in.

BingX Review

BingX is an exchange widely used in Asia that provides a safe, secure, and fast trading derivatives platform. Founded in 2018, BingX is a crypto social trading exchange that offers spot, derivatives, and copy trading services to more than 100 countries worldwide.

BingX prides itself on being the people’s exchange by unlocking the fast-growing cryptocurrency market for everyone, connecting users with expert traders, and providing a platform to invest in a simple, engaging, and transparent way.

BingX is an international digital service financial institution with branch offices in North America, Canada, the EU, Hong Kong, and Taiwan. BingX has also registered or obtained regulatory approval to operate in other countries where it provides its services or carries on any form of business.

BingX is the registered trademark of Bing Group, whose global subsidiaries and/or related entities have obtained the following regulatory licenses.

BingX review: What is BingX?

BingX Crypto Exchange is a social trading exchange dedicated to providing users with simple, easy-to-use, and professional trading products and services for digital assets and their derivatives.

BingX’s unique automatic copy trading function is the first of its kind. This tool allows traders to profit by simply copying the trades of professional traders with a single click.

bingx review
BingX Exchange Interface

BingX allows users to trade cryptocurrencies such as BTC, ETH, AXS, Safemoon, USDT, and Dogecoin, BingX also facilitates the trading of global indices and other contract trading products. BingX aims to provide a fair and secure platform, enabling an ultimate trading experience for users to buy, sell, and trade crypto securely. 

BingX review: Key Features and Advantages of BingX

  • Comprehensive Index Price Calculation: The BingX Index Price Calculation collects spot market data from Binance, Huobi, and OKEx, which effectively avoids the malicious manipulation of the price.
  • Demo Trading: Provide a demo trading system to help new traders get started easily as well as help trading professionals refine their experience.
  • Real-Time Market Tickers: Price information of trading pairs can be viewed on mobile desktops without entering BingX APP.
  • Spot Trading: Fast transactions of BTC, ETH, XRP, and many other popular assets available;
  • Social Trading: Feed function that operates like a crypto forum to share and read insights of BingX traders. 
  • Fiat Gateway: Connect with high-quality service providers, to help you buy digital currencies safely and efficiently;
  • Contract Trading: Providing a variety of trading symbols such as BTC, ETH, Link, and DOT;
  • Perpetual Swap:  Trade by limit in order to effectively control the cost of trading;
  • Trading Bot: Auto trading bot for cryptocurrency trading.
  • Customer Support: BingX 24/7 customer service representatives are always ready and willing to answer any questions or resolve any issues you might encounter.

BingX Pros and Cons


  • A large number of cryptocurrencies: BingX has a large pool of cryptocurrencies listed on its exchange platform, over 300 cryptos. The long list helps to widen investors/traders’ options and if there’s a cryptocurrency you’re looking for there’s a chance it’ll be here.
  • Copy Trading: With the automatic and beginner-friendly copy trading feature, users can gain profit by simply copying the trades of professional traders.
  • Referral Program: In the referral program, users can invite their friends with their BingX referral code and get a portion of their trading fees as a commission. Traders can use this program to earn rewards.
  • Various Trading Options: Limit order, market order, take profit and stop loss, as well as Cross Margin mode and Isolated Margin mode.
  • Educational resources: BingX has a blog enriched with high-yield content centered on crypto news and analysis, auto trade robot, Market Insights, Price Trackers, and more.
  • BingX Affiliate Program: BingX has a promising affiliate program you can take advantage of.


  • Less transparency in security: Inadequate information on the BingX exchange security.

BingX review: What Kinds of Services Does BingX Provide?

BingX is quite popular, with more than 1 million concurrent users from all over the world. As they provide their services in more than 100 regions, users from different parts of the world can access their trading and investing services for an easy entry point into the crypto industry. 

With bonuses like copy trading perpetual contracts, BingX has enhanced the overall trading experience, allowing amateurs and beginners to follow elite traders and copy their trades. At the same time, manual traders are provided with countless trading tools and advanced interfaces to let them trade freely.

Instantly buy crypto with a variety of payment methods

BingX has partnered with several third-party merchants who provide a variety of different payment methods so that users can easily pick the one that best suits their preferences. 

The fiat transactions usually take a minute, and the crypto assets are deposited in your BingX account right away.

The payment methods include credit/debit cards, bank transfers, SEPA, Apple Pay, and a few others

Trade spot, futures, and perpetual contracts 

The benefit of having different types of markets is that both amateur and experienced traders get the chance to trade the way they want. Beginners can opt for spot trading, whereas advanced traders can trade perpetual futures or standard futures according to their skill level.

Copy trade and follow elite traders 

Copy trading is another popular feature in the crypto industry that makes it easier for amateur traders to trade. BingX has addplatform,ed a copy trading option to their platform where users can pick any elite trader and start copying their trades.

bingx copy trading
Copy Trade with BingX

Learn with BingX Academy

BingX comes with its own academy aimed at beginners and amateurs to provide them with detailed and thorough learning content about pretty much everything they could want to know about the industry. It offers video tutorials and written guides that range from basic to advanced and explain everything about the blockchain and cryptocurrencies.

Leverage Limits

BingX’s leverage limits vary based on the product you want to trade. The BTC and USDT contracts come with 150x leverage, typically higher than the industry average. 

Ethereum leverage goes up to 100x, whereas other crypto-based contracts on BingX are capped at 35x or 50x leverage. For commodities and indices, the leverage limit goes up to 100x, and for forex pairs, the maximum limit goes to 300x.

BingX Affiliate Program

The commission rate for BingX affiliates is a whopping 60%, easily one of the highest in the industry, with the lowest fee rates as low as 0.045% for standard contract rates. Maker rates are at 0.02%, and rates are 0.03% for perpetual swaps, with up to 100+ USDT bonuses available upon registration. 

Bingx Affiliate program
Bingx Affiliate program

You will also receive brand-name gifts courtesy of the exchange. If you have a network, BingX has a promising affiliate program you can take advantage of.

BingX review: Trading Conditions for BingX Users

BingX Trading is great and has average trading conditions in the market; in terms of fees, it is one of the best brokers. It is more beneficial to trade on this platform than on those of the majority of competitors. And if you use the TU rebate services, the benefit becomes even bigger.

BingX supported cryptos

BingX Supported Cryptos
BingX Supported Cryptos

BingX supports over 300 cryptocurrencies, which is a good number for those looking to buy, sell, and trade a variety of assets. Some of their most popular cryptos include:

  • Bitcoin (BTC)
  • Shiba INU (SHIB)
  • Dogecoin (DOGE)
  • Ether (ETH)
  • Litecoin (LTH)
  • Solana (SOL)
  • Ripple (XRP)
  • Cardano (ADA)
  • Polkadot (DOT)
  • Chainlink (LINK)
  • Polygon (MATIC) and many more.

BingX Registration Process

With BingX’s intelligent and intuitive UI design, you can get signed up in no time. However, just in case you get lost and need to find your way, here is a quick and detailed guide on how to sign up in just a few steps.

How to use BingX

Step 1

Visit BingX. On the register page, insert your email address, create a password, and click on “Next.”

Step 2

A code will be sent to you. Go to your email copy, insert the code in the required field, and click on “Register.”


KYC is intended to facilitate AML (anti-money laundering) and protect against financial scams, impersonations, etc. Users’ identities can be verified through their ID cards, passports, or other documents they submit.

If you just signed up and you’re yet to verify your identity, you’ll be eligible for a 24-hour maximum withdrawal of $50,000 USDT, while verified users can get up to 1,000,000 USDT. Also, the maximum cumulative withdrawal for unverified users is 100,000 USDT, while it’s unlimited for verified users. 

BingX review: How to complete KYC verification on BingX

Step 1

Log into your BingX account by inputting your BingX login info and go to the verification page.

Step 2

Click “Verification,” select ID Card or Passport, enter your name and ID number, and upload your ID Card or Passport photos.

Step 3

Upload a selfie with your ID card or passport.

Note: If your submission is complete and accurate, the KYC application will take about 1 workday to process. If your application is denied, please check the error and resubmit your KYC verification, or contact our online support for more details.

BingX review: Trading With BingX

BingX Exchange provides a modern exchange suite for beginners and experienced traders. The user interface is easy to use with a straightforward layout. The BingX trading view feature ensures that users can carry out technical analysis with hundreds of chart patterns, drawing tools, and technical indicators.

BingX Trading View

When trading on this platform, users can choose between an isolated and a gross margin. This helpful feature is usually for advanced traders who would like to control the isolated margin, which limits the trade risk of an individual trade while sharing the trade risk among multiple open positions. An isolated margin limits the trade risk of a single trade while spreading the risk across multiple open positions.

Under the margin slider, traders set their take-profit and stop-loss orders. The moment the price touches one of the order values, the other one gets canceled. This process is often termed OCO or One-Cancels-the-Other, and you will not find such an innovative feature in any other trading platform

BingX Copy Trading Review

How does BingX CopyTrade work?

When you register on BingX, you will see a “copy trade” button at the top that you can now use. There, you will see a lot of people who share their successes and failures.

It is ranked based on how they have done so far, and when you go into their profiles, you can see their assets, their PnL, their 30-day return, their max drawdowns, and even the total earnings of their followers as well. All the information that you need to decide who to follow will be in their profile. When you decide which one to follow and copy, the rest is quite easy.

BingX review: How to Copy Successful Traders on BingX

With BingX copy trading, you can copy successful traders; here’s how:

First off, you’ll need to select who you want to copy; after that, you need to click on “copy.” This will redirect you to a configuration page because you may not want to copy 1 to 1 and may want to make some changes. You can choose whether you want to copy how much you want to get out if you lose, how much you want to earn and stop, and whether you want a fixed margin rate or one based on your funds. 

Basically, you configure it depending on how much you want to risk and what you can afford. Afterward, you click “confirm,” and the system will make the same trades that your next trader does, but with amounts and rates that you feel more comfortable with.

BingX Copy Trading Fees

  • Crypto Trading Pairs: 0.045% 
  • Non-Crypto Trading Pairs: 0.03%

BingX review: How To Deposit and Withdraw on BingX

How to Deposit on BingX


Log in to your BingX account to find deposit options. For the BingX app: Homepage: “My Assets,”  “Deposit/Buy Crypto,” For the BingX website, on the home page, click the wallet icon on the top navigation bar and go to “Deposit.”

Step 2

Choose the coin you want to deposit.

Step 3

Select a blockchain network for deposits (deposit chain). BingX now supports multiple blockchain networks for deposits, such as ERC20, TRC20, BEP20, POLYGON, etc. Different blockchain networks charge different service fees for deposits. Refer to the rules of the relevant blockchain network for details. Note: Please make sure that the selected network is the same as the network of the platform you are withdrawing funds from.

Step 4

Select the recipient account. BingX now supports direct deposit to a futures account or fund account for quick trading.

Step 5

Double-check the “coin” to deposit, the “deposit chain” and the “recipient account”. Then copy the address into your wallet, where you withdraw funds. The deposit will arrive after “network confirmations,” which take about 10 to 60 minutes to be confirmed by network nodes before the asset is credited to your account.

BingX review: How to Withdraw on BingX


Log in to your BingX account and find access to withdrawals. For the BingX app, go to “the homepage,” then “My Assets,” and “Withdraw.” For the BingX website, on the home page, click the wallet icon on the top navigation bar and go to “Withdraw.”

Step 2

Choose the coin you want to withdraw.

Step 3

Select “Withdraw” or “Internal Transfer.”

Withdraw: Confirm the “chain” name and the “service f.” Enter the “address” and “withdrawal quantity.” Check the “Actual Arrival” amount and click “Withdraw.”

Internal Transfer: Select “user UID,”  “email,” or “phone” as the transfer method. Then enter the “withdrawal quantity.” Double-check the “Actual Arrival” amount and click “Withdraw.”

Note: The minimum withdrawal is 10 USDT. All withdrawals will take around 10–120 minutes before the asset is credited to your account. Unverified users have a 50,000 USDT per 24-hour withdrawal limit, while verified ones will have a limit of 1,000,000.

BingX review: BingX App

BingX offers apps for Android and iOS mobile devices. With the mobile app, users can unlock a pool of features like buying crypto, placing trades, signing up for copy trades, and withdrawing funds—all within the mobile app. 

bingx app review
Trade with BingX App

The BingX exchange app has over 500,000 downloads on playstore. It is also built with support for Android and IOS users. Below is a review from a user of the BingX app.

bingx app review
BingX App Review

Signing up on BingX gives you access to an array of cryptocurrencies, with which you can buy, sell, and trade. Its powerful APIs give you the ability to copy trades from professionals. 

BingX Exchange Ranking 

The exchange debuted in 2018 and has a staff of 200-500 people. Its headquarters are located in Singapore, and it’s a privately held company. From our research, BingX CEO is not disclosed, but the team members are. BingX exchange ranking according to coinmarketcap is currently number 40, and as of this writing, BingX trading volume is $999,918,211 in 24 hours.

BingX review: BingX Fees

BingX Trading Fees

BingX derivatives exchange charges the same trading fee of 0.045% for both opening and closing a position. The calculation of the transaction fee is simple. BingX trading fee is calculated by multiplying the trading fee of 0.045% by the trade volume. The trade fee is relatively competitive compared to other cryptocurrency exchanges.

BingX Withdrawal Fees

BingX charges a small withdrawal fee for withdrawing ETH and BTC, about 0.007 ETH and 0.0005 BTC, respectively. To withdraw stablecoins, the withdrawal fee charged is $28 per transaction, which is relatively high compared to the global industry average. The below table displays withdrawal fees for different cryptos.

No.Trading PairWithdrawal Fee/Order
520 USDC0.0005 BTC
6ETH0.007 ETH
7XRP0.25 XRP

BingX Deposit Fees

The best thing about BingX is that it does not charge any fee to deposit cryptocurrency into trading accounts. However, a fee may be applied if you transfer fiat to crypto based on the deposit method and the selected 3rd-party provider in the user’s region. To know the full fee structure, it is highly recommended to check out the details on its official site.

BingX Standard Contract vs Perpetual

BingX Standard Futures Trading Fees

The standard futures trading fee is 0.045% for autonomous trades. The fees apply when a position is opened; the fee is recorded and deducted after the position is closed.

For copy trading fees, crypto trading pairs are 0.045%, which is the same as autonomous trades, and non-crypto trading pairs are 0.03%.

BingX Futures Fees Rates

BingX standard futures fee rates also apply.


A spread’s value is dependent on the current positions of the long and short parties. The spread for long positions will be wider if the long positions outnumber the short positions. In contrast, if the short positions outnumber the long positions, the spread for shorting will be wider.

Also, note that there are “daily average” spread ranges for popular trading pairs and that the spread changes with the market depth. So when the market is faced with bad liquidity, the spread may be larger.

BingX Perpetual Futures Trading Fees 

The BingX perpetual futures trading fees for both the maker and taker include 0.020% and 0.040%. The exchange also has different trading fees for VIP users, as shown in the table below.

Level30 Day Trading Volume (USDT)TakerMaker
Common User< 20 million USDT0.040%0.020%
VIP 1≥ 20 million USDT0.040%0.018%
VIP 2≥ 150 million USDT0.035%0.016%
VIP 3≥ 400 million USDT0.032%0.014%
VIP 4≥ 1 billion USDT0.030%0.012%
VIP 5≥ 3 billion USDT0.027%0%
VIP 6≥ 5 billion USDT0.025%0%
VIP 7≥ 10 billion USDT0.023%0%
VIP 8≥ 15 billion USDT0.023%0%

However, perpetual futures funding rates also apply. Due to perpetual contracts’ lack of expiration or settlement date, they are required to use the “Funding Fee Mechanism” to anchor the contract price to the spot price.

The funding fee is settled between the long and short positions. When the fund rate is positive, multiple long position holders will pay the short position holders, and when the fund rate is negative, the opposite occurs.

Isolated Margin Mode

The funding fee will be deducted from the initial margin (or issued as a reward).

Cross Margin Mode

The funding fee will be deducted from the balance (or issued as a reward).

BingX Accepted Payment Method

BingX offers several payment methods, some of which include:

  • Debit or Credit Card (Mastercard, Visa)
  • MoonPay
  • Banxa
  • Apple Pay
  • Cryptocurrencies

BingX Customer Support

As the first point of contact, customers can use the Help Center, which provides extensive support documentation that helps users learn how to use the platform and troubleshoot common problems. 

Users who are experiencing technical issues or have queries about BingX’s suite of products and services can get in touch via email tickets and the 24/7 live chat.

For any query, you can visit the Help Center section or email BingX at, and the support team will send you an email within 12 hours. BingX is also equipped with multilingual functionality, supporting 15 different languages.


In terms of customization, user-interface simplicity, navigation, and design, the trading platforms utilized by various exchange platforms differ from one another. This is due to multiple considerations and designs made by different exchange platforms while building their trading platforms. 

Regardless of the variations, a good trading platform should be user-friendly, simple to navigate, and have essential trading tools integrated into its API. Clients of the BingX exchange platform have access to a perfect trading platform and interface. 

You can use the BingX API to access market data, trading, and account management endpoints for Perpetual Swap. The market data API is publicly accessible and provides market data such as “The Latest Trade of a Trading Pair.” 

The account and trading APIs require authentication with an API key, which allows you to place and cancel orders and inquire about order status and account information.

BingX Review Reddit

These BingX Exchange reviews contain the opinions of users who have interacted with the BingX exchange. Below are some of the top BingX Reddit reviews from its users:

“Bingx. Works fine, it’s trustworthy. Don’t know about the copy trade function as I never used it but the platform itself is quite good.”

“I use BingX for lev trading and love it. Super simple, quick to fund, no vpn needed if you’re in the US. Perfect if you’re the “set it and forget it” type who manages risk with tight stops. But yeah, overall….what they said.”

“BingX is a global digital asset, spot, and derivatives trading platform that provides a user-centric and open ecosystem with intuitive social trading features. Today, it has come to be regarded as the world’s first and largest social trading platform and is more than just a start-up. While in some quarters it may still be billed as the “next big thing,” BingX since its inception, has evolved from that billing to become the leading platform it is today. Its cutting-edge technology and user-centric financial services have seen it come to the forefront of crypto trading. As it provides unique crypto trading services such as;

Spot grid trading services that allow users to execute consistent trading strategies.

A popular trader list, where it features the trader with the highest followers

A comprehensive trader data, boasting one of the most complete data displays on any exchange.

Data charts, risk ratings, popular and conservative trader lists etc.

Of note is also its expansion from the Asian market to anglophone countries in 2020, subsequent licensing from 4 major regions and TradingView’s 2021 Broker Awards won in 2021 shows that BingX is just more than the next big thing, it is a pioneer in the field of crypto trading.”

“Many crypto newbies might wonder how to incur a loss while trading, however, careless to ask about which platforms, security implications, user terms and conditions and the utmost utility of the exchange.

BingX, is aware of the various challenges traders experience in the currency trading market. It’s lashed with special regard to insecurity, lack of transparency among service providers and the risk of making unreliable trading decisions which usually cost them their high-quality assets.

In the purpose of addressing the misinformation, BingX is beholden to providing a trading platform that anchors users’ safety, and transparent and more reliable trading transactions while still keeping a user-friendly profile. This is backed up by considerable crypto business licences obtained in countries such as Europe, Lituania, the USA and so on which increased its clearances and thus triggered more global recognition. This has further placed users’ assets at a higher security level thereby increasing their confidence in using BingX.”

BingX review: Is BingX Legit?

Based on the BingX review, there isn’t any evidence supporting a security breach in the case of BingX. There is little information on the BingX website, although we investigated and found out that:

  • BingX implements end-to-end SSL encryption, and stores a portion of its digital assets in cold storage wallets with multiple signatures to enable withdrawals. 
  • There is also an insurance fund in place in case of theft.
  • BingX offers Two-Factor Authentication (2FA) and allows users to create a fund code, and a separate password for use when depositing, withdrawing or trading with account funds.
  • BingX also partnered with SlowMist, a blockchain security firm, to audit their wallet services. 
  • A bug bounty program is also integrated for researchers who provide information on system vulnerabilities.

BingX provides a smooth and stable operation, even in extreme market conditions, thanks to its leading market depth from multiple liquidity providers. It has been operating since 2019, and it is still building on its long record of safety and security. With all the outlined security features above, you can agree with me that BingX is legit.

BingX Review: Conclusion

To conclude this BingX review, it is essential to note that this exchange is a promising and compelling cryptocurrency exchange for users searching for the leading crypto-powered leverage platform. 

It is bundled with some of the best factors, including various crypto derivatives products, copy trading, and demo trading features.

Overall, BingX is a good option for both beginners and advanced traders alike, and the rock-bottom fees can save active traders serious money over time.

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