Trading, Security & Fees Explained

Are you looking for a reliable cryptocurrency exchange to execute advanced trading strategies? Our BingX review dives into everything you need to know about this fast-growing platform. From spot and futures trading to copy trading, wealth management, and AI-powered tools, BingX provides a comprehensive ecosystem for both beginners and seasoned traders. Discover its fees, security measures, supported assets, and unique features to see if BingX is the right exchange for your crypto journey.

BingX Exchange Review: At a Glance

BingX Review: What is BingX?

BingX is a leading cryptocurrency exchange founded in 2018 by Josh Lu, offering crypto trading services to over 20 million users worldwide. CoinMarketCap ranks BingX among the top 20 spot trading exchanges and 15th in terms of traffic, trade volume, and liquidity. Our BingX review found that it offers trading services and products ideal for both beginners and experienced traders.

BingX boasts a suite of tools and features designed to enhance users’ trading proficiency. Among the services are spot and derivatives trading, copy trading, and asset management, among others. BingX takes security seriously, as evidenced by its collaborations with top cybersecurity firms, offering 100% margin reserves. In addition to using cold storage, the firm promotes multi-factor authentication, anti-phishing codes, and address whitelisting.

Pros of BingX

• Supports 1000+ cryptocurrencies, including BTC, ETH, USDT, XRP, and more.
• Offers spot, derivatives, copy trading, staking, and automated trading.
• Demo trading feature for practice without financial risk.
• Low trading fees and multiple fiat deposit/withdrawal options.
• Easy-to-use interface and mobile app for trading on the go.
• 24/7 responsive customer support.

Cons of BingX

• Higher withdrawal fees compared to other exchanges.
• KYC verification required for certain features.
• Customer support limited to email and live chat.
• Fiat deposits take 1-3 business days to process.
• No leverage for spot trading, users must rely on their funds.
• Not available in the US, UK, and Canada.

BingX Review: Best Features of the BingX

BingX is jam-packed with numerous features, products, and services designed for active and conservative traders. These include the following:

1. BingX wealth

BingX Wealth is a platform feature that enables users gain exposure and to earn interest on their idle cryptocurrencies. The product requires no subscription or redemption fee for asset management.

Flexible-Term Products

• Users can earn interest on their digital currencies on flexible terms without commitment.
• The subscription process is seamless, and redemption requests are fulfilled instantly.
• Rewards and interest are calculated daily, and users can enter and exit freely at any time, from anywhere.

Fixed-Term Products  

• Users can lock their crypto assets and look forward to a stable ROI, protected by risk control measures.
• The tool begins and ends on set timelines and predetermined dates.
• Users can anticipate the maturation date of their investment, and the yields are predictable.
• Fixed Income: Anticipate the maturation of your investment over a set period.

Shark Fin        

• Shark Fin is BingX’s wealth product, which allows users to earn interest on their crypto assets without risking their principal.
• The product uses USDT stablecoin for subscription and earns a guaranteed ROI regardless of whether the market is bullish or bearish.
• No trading fee is charged, and users can redeem their principal and interest within one day.
• Shark Fin is potentially lucrative, especially in times of market volatility.

Advantages of the product

• Capital Preservation: BingX Wealth provides users with the opportunity to earn a consistent passive income without locking up funds in staking pools for extended periods.
• Zero Fees: No subscription or redemption fees apply.
• Robust and Reliable: BingX offers regular proof-of-reserves (POR) verification, guaranteeing 100% asset collateralization. The regular publication of POR enhances user trust that funds are safely kept under a strict risk control system.
• VIP Exclusive Wealth: Users of the BingX Wealth product have access to enhanced ROI and several other exclusive product options.

2. P2P trading

BingX P2P trading allows users to buy and sell cryptocurrencies directly using fiat currency in a secure environment through an escrow service. KYC-verified eligible users can navigate to the P2P section, initiate trades, and pay using third-party platforms and assets that are released upon payment confirmation.

3. Spot trading

BingX offers spot trading via a user-friendly interface, offering over 820 cryptocurrencies, mostly paired with USDT as collateral. Users can set price alerts to receive notifications when the assets reach the predetermined value using charts supported by TradingView. The product also supports various order types, including Market, Limit, Take-Profit, and Stop-Loss orders.

4. Futures trading

Experienced traders can utilize perpetual futures trading, featuring over 280 contracts and 150x leverage. Additionally, users can also trade forex, indices, and commodities with up to 200x leverage.

• Standard futures contracts: BingX offers standard futures contract that adhere to general trading market rules, with an open and closing time for the market. The applicable fee for this product, which is only available on weekdays, is fixed at 0.045% for all order types.
• Perpetual futures contracts: The platform’s perpetual futures contract is a derivative that enables users to speculate on the price movements of assets without expiration dates. The contracts that allow for long and short positions are settled in cryptocurrency. To increase the profit potential, BingX offers leverage via a funding rate mechanism that keeps the contract’s price aligned with the spot market.

5. Grid trading bots

Traders can access BingX’s trading bots, called grids, to automate their trading and earn profits even when they’re asleep. The platform features an extensive collection of grids for both spot and futures trading. The futures grid has over 27,000 users with $41.6 million in investment, while the spot grid has over 160,000 users with $39.8 million in investment.

6. Copy trading

The BingX copy trading feature enables beginners to imitate expert traders’ moves as they learn their techniques and earn income. The feature allows new users to participate in social trading by selecting experts they want to copy based on APY, conservative approach, ROI, trending, and rising stars, among other factors. You only need 110 USDT in your account and have traded for at least 30 days to become eligible for social trading.

7. BingX Card

The BingX Card is a crypto debit card, supported by Mastercard, giving users the ability to spend their cryptocurrency conveniently. The card is funded via cryptocurrency deposits and is available in either virtual or physical form, which you can use at stores or ATMs.

BingX Review: Mobile App & User Experience

BingX offers an intuitive mobile app with a user-friendly design, making it ideal for both novice and experienced traders. The App facilitates a secure and seamless trading experience, integrating AI functionalities into some products. The mobile App’s key features include:

• AI-powered Strategist: Dunned “BingX AI Master,” it offers market insights and strategies for data-based decisions.
• Comprehensive Trading Options: Enables users to easily access spot, futures, and perpetual swaps, as well as tools like stop-loss and limit orders.
• Demo trading: The demo account enables new futures traders to learn via a simulated system without risking real funds.
• “Wealth” section: The feature facilitates earning rewards on crypto assets while equally using them for margin on other trading products.
• Real-time monitoring: The App helps users stay informed on market changes with real-time data on the desktop and mobile platforms.
• Secure Transactions: The BingX mobile app’s security features include two-factor authentication (2FA) and biometric identification, which safeguard user data and assets, preventing unauthorized access.

BingX Fees Review

BingX imposes fees for spot and futures trading, as well as withdrawals and deposits. The platform employs the traditional maker-taker fee model.

• Maker Fee: You pay maker fees for adding liquidity when you place a limit order. The cost is lower and applies to limit orders that aren’t filled immediately.
• Taker Fee: Payable when you place an order matching an existing order and remove liquidity. The fee is higher and is filled immediately.

Trading Fees

The BingX fees are based on a user’s VIP level, which is determined by their cumulative asset value or trading volume. The higher the VIP level, the lower the applicable fees.

1. Spot Fees : The standard fee on BingX is 0.10% for both makers and takers. Users can enjoy discounts as their spot trading volume increases.

2. Futures Fees: The fee structure for the BingX futures market resembles the spot trading one, but comes with higher requirements.

• Standard contracts: 0.045% for both makers and takers, including autonomous and copy trading.
• Perpetual  contracts: Fees for perpetual futures are set at 0.02% for makers and 0.05% for takers.

Deposits and Withdrawal Fees

There is no applicable deposit fee for cryptocurrency deposits on BingX. Nonetheless, you may encounter network fees based on the network you’re using or when using an external wallet. BingX doesn’t charge fiat deposits executed via SEPA or SEPA instant bank transfers.

Withdrawal fees on BingX may vary depending on the specific cryptocurrency and blockchain chosen for withdrawal. The costs are also adjusted depending on the state of network congestion at the time of the transaction. Users will receive a 0.1% withdrawal fee for fiat withdrawals using SEPA and SEPA instant bank transfers.

What are the BingX Withdrawal Limits?

A user’s BingX withdrawal limits depends on their level of KYC verification. Unverified traders have a daily limit of 20,000 USDT, while users with advanced KYC verification have an unlimited withdrawal limit of 5,000,000 USDT.

BingX VIP Fees                       

BingX VIP traders enjoy reduced fees for spot and futures trading in addition to other premium rewards. The exact costs are based on the trader’s VIP level, which is determined by the asset threshold and trade volumes.

Spot Trading VIP Fees

Futures Trading VIP Fees

BingX Review: Is BingX Safe?

BingX is a legitimate cryptocurrency exchange that is also safe to use. However, it is essential for users to be aware of any inherent risks and to implement security measures to protect their assets.

The platform is licensed in different regions, including Australia (AUSTRAC compliance), the EU (MTR license), and the US (MSB license). BingX also emphasizes adhering to local regulations in the jurisdictions where it operates.

Nonetheless, the platform faces certain challenges, most notably regional limitations, making it unavailable in BingX restricted countries such as the USA, UK, North Korea, Canada, and others. Additionally, the platform experienced a hot wallet breach incident in September 2024, during which approximately $43 million in assets were stolen.

However, the exchange responded quickly to the incident, pausing withdrawals, stating that the majority of funds were untouched in cold wallets. Following the security breach, BingX further tightened its security measures. According to CER.live, BingX operates under 100% server security and has passed many penetration tests.

Security Measures

The following are among the robust security measures that the platform undertakes to guarantee user data and asset security and make BingX safe:

• Two-Factor Authentication (2FA): The exchange encourages users to implement two-factor authentication as an extra security layer to protect user funds. The platform has further partnered with trusted identity verification firm Sumsub to enhance the KYC verification process.
• Transparency with Proof-of-Reserves: BingX maintains 100% proof of reserves via leading cybersecurity organizations. This acts as a guarantee that the exchange holds sufficient reserves to cover user assets.
• Cold Storage and Asset Security: BingX provides advanced asset security through cold storage solutions, keeping the majority of user assets offline and safe from cyberattacks.
• Ongoing Security Enhancements: In its efforts to further enhance security, BingX recently launched ShieldX, an upgraded firewall offering round-the-clock protection. The exchange was recently rated BBB by CER.live with a 76% security score.

How to Use BingX?

You need to have a trading account before you can begin using BingX. The following is a step-by-step process of opening a user account at BingX:

How to Open a BingX Account?

Here is a quick insight into opening a BingX account. Always be careful to click on an official link before you start trading to avoid getting scammed:

• Navigate to BingX: Visit the official BingX website, navigate to the top right corner, locate “Sign Up,” and press to continue.
• Choose a registration method: On the “Get Started” page, select between registering with your email address, phone number, or signing in with Google to create an account.
• Pass security verification: After registration, you will receive a PIN code from BingX. Enter the one-time PIN in the space on the following page.
• Explore your account: After entering the one-time PIN, the system will direct you to your new personal account. Take the time to explore your new account, implement security measures, and complete KYC verification to increase account limits.

How to Trade on BingX?

Before trading, ensure your BingX account is funded. Beginners can start with a demo account to practice risk-free.

Step 1: Deposit Funds

• Use a credit/debit card, Apple Pay, Google Pay, or bank transfer.
• Transfer crypto from another wallet or exchange.
• Use P2P trading to buy crypto directly from other users.

Step 2: Choose a Trading Method

Spot Trading

• Navigate to the Spot market and select a trading pair (e.g., BTC/ETH).
• Place a market order for immediate execution or a limit order to set your price.
• Confirm the amount and execute your buy or sell order.

Futures Trading

• Go to the Futures page and choose Perpetual or Standard Futures.
• Select a trading pair (e.g., BTC/USDT) and margin mode (Cross or Isolated).
• Set your leverage and trading direction (Long or Short).
• Place your order and optionally set stop-loss and take-profit to manage risk.

Copy Trading

• Follow experienced traders by allocating a portion of your funds to automatically replicate their trades.

How to Deposit & Withdraw at BingX?

Depositing Crypto

1. Log in and go to Assets → Deposit.
2. Select the crypto (BTC, ETH, USDT, etc.) and blockchain network.
3. Copy the deposit address and transfer funds from your wallet or exchange.
4. Wait for network confirmations and verify in Assets.

Withdrawing Crypto

1. Go to Assets → Withdraw.
2. Choose the crypto asset.
3. For external wallets, select On-chain withdrawal, enter the address, network, and amount.
4. For another BingX user, choose Internal Transfer and enter recipient info.
5. Confirm details and tap Withdraw.

Depositing Fiat

1. Click Buy Crypto → Fiat Deposit and complete KYC.
2. Select fiat currency, enter the amount, and transfer using the provided reference.
3. Funds usually arrive in 1–3 days. No deposit fees.

Withdrawing Fiat

1. Convert crypto to fiat via Fund Account → Convert → Convert Fiat.
2. Enter the amount and select your KYC-verified bank account.
3. Withdrawal takes 1–3 days. Fees: SEPA 0.1% (min 2 EUR), SWIFT 30 EUR.

Best Alternatives to BingX for Crypto Trading 

BingX Customer Support

BingX provides users with comprehensive support across multiple channels. The platform features an extensive Help Center with FAQs and guides, offering practical solutions for trading and interface-related queries, often linked directly from the app’s trading screens. Users can also seek assistance via social media channels such as Facebook, Instagram, and X by submitting support tickets. For real-time assistance, BingX offers 24/7 Live Chat, while email support addresses more complex inquiries.

The exchange also maintains an active presence on Telegram, Twitter, and Discord, allowing users to engage with the community. Response times are generally faster than most other exchanges, and high-volume traders with VIP status receive dedicated account managers for personalized support.

Conclusion: Is BingX a Good Exchange?

BingX is a reputable cryptocurrency exchange offering a wide range of trading services, advanced features, and strong security. The platform supports spot trading, copy trading, derivatives, a referral program, and asset management. BingX’s intuitive and user-friendly interface provides a seamless trading experience, making it ideal for both beginners and more experienced users.

Users can earn passive income through BingX Wealth products and access principal-guaranteed Shark Fin products. With a tiered fee structure and VIP levels, many enjoy reduced trading fees and discounts. BingX also prioritizes KYC compliance, providing a secure and reliable environment for crypto trading platform.

FAQs

Is BingX a safe exchange?

According to CER. Live, BingX has a security rating of BBB with a 76% score. The platform has passed approved penetration tests, has an ongoing bug bounty program, and has undergone proof-of-reserves audits. All these make BingX a relatively safe cryptocurrency exchange.

Is BingX available in the USA?

Unfortunately, cryptocurrency traders in the US cannot directly access BingX due to regulatory concerns. US-based traders may consider exchanges operating within the local regulatory framework, such as Coinbase, Kraken, or Binance.US.

Which cryptocurrencies does BingX support?

BingX supports a variety of crypto assets, including major coins such as Bitcoin, Ethereum, Solana, and USDT. The exchange also offers leading altcoins like XRP, LTC, DOGE, ADA, BNB, LINK, and PEPE, among others. Users may also access the latest assets, including BRC-20 tokens, as well as other coins and global indexes.

Is BingX a reliable platform for beginners?

BingX exchange is an ideal cryptocurrency exchange for individuals new to cryptocurrency trading. The exchange provides a user-friendly trading platform with a convenient interface that makes learning straightforward.  Additionally, BingX features an extensive education center that offers a comprehensive range of resources for new traders. Trending traders can also earn passive income makes the exchange a good place for novices to start.