In a crowded cryptocurrency exchange market, traders understand that not all platforms offer the same level of quality and security. While some exchanges operate with transparency and robust safeguards, others may pose risks related to fraud or fund mismanagement. This makes thorough research essential for anyone looking for a trustworthy trading platform.
BingX has emerged as a reliable option for many users. This review explores its fee structure, trading capabilities, security protocols, and the range of supported cryptocurrencies, providing a clear picture of what the platform offers.
What Is BingX?
BingX is a global cryptocurrency exchange that was founded in 2018. It serves more than 10 million users and provides a variety of services including spot trading, derivatives, copy trading, and asset management. The exchange has a strong international presence with offices in Asia, Oceania, Europe, and South America.
Regulatory compliance is a key focus for BingX. Its European entity, BingX EU UAB, is registered in Lithuania and regulated by the Financial Crime Investigation Service (FCIS). Similarly, BingX Global is registered with the Australian Transactions and Reports Analysis Centre (AUSTRAC).
Security and transparency are central to its operations. The exchange maintains 100% verified margin reserves and collaborates with top cybersecurity firms to protect user assets. BingX has received industry recognition, such as being named Best Crypto Exchange by TradingView and the Fastest-Growing Social Trading Platform by Global Brands Magazine.
Account Verification: BingX KYC
As a centralized exchange, BingX adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. It offers two types of verification: one for individual users and another for corporate entities.
Individual Verification
Completing KYC verification increases withdrawal limits and enhances account security.
| Feature | Unverified Users | Verified Users |
|---|---|---|
| 24-hour Max. Withdrawal | 50,000 USDT | 5,000,000 USDT |
| Max. Cumulative Withdrawal | Unlimited | Unlimited |
The verification process is straightforward:
- On the website, log in, go to your profile, select "Identity Verification," and upload the required documents.
- On the mobile app, click your avatar, choose "Verification," and follow the instructions, including taking a live selfie.
Verification usually takes one business day. If rejected, users can correct the information and resubmit.
Entity Verification
Corporate clients must complete entity verification by filling out a dedicated form and submitting relevant business documents. This process typically takes 3–5 business days for approval.
Trading Features on BingX
BingX offers a suite of trading tools designed for various experience levels and strategies.
Futures Trading
Futures trading allows users to speculate on price movements with leverage. BingX offers both Standard Futures and Perpetual Futures.
| Feature | Standard Futures | Perpetual Futures |
|---|---|---|
| Suitable for | Beginners | Experienced Traders |
| Margin Type | USDT or Coin-Margined | USDT-Margined |
| Order Types | Market, Trigger | Limit, Market, Trigger |
| Position Management | Independent Orders | Combined Positions |
| Trading Fee | 0.045% | Maker: 0.020%, Taker: 0.050% |
| Leverage | Up to 150x | Up to 150x |
To start trading futures:
For Standard Futures:
- Select a trading pair and choose between isolated or cross margin.
- Decide on long or short position and order type.
- Set leverage carefully and transfer margin funds.
- Configure take-profit and stop-loss orders, then place the trade.
For Perpetual Futures:
- Similar steps apply, with additional order type options and risk disclosures.
👉 Explore advanced trading strategies
Copy Trading
Copy trading enables users to automatically replicate the trades of successful investors. BingX offers several copy trading modes:
- Copy by Position Ratio: Adjusts your investment proportionally to the copied trader’s positions.
- Copy by Fixed Margin: Uses a fixed margin amount per trade, independent of the trader’s position size.
- Copy by Spot Grid: Copies grid trading parameters from experienced traders.
This feature is especially useful for newcomers who want to learn from experts while automating their trading activities.
Spot Trading
Spot trading involves buying and selling cryptocurrencies for immediate settlement. BingX supports market, limit, trigger, and stop-loss/limit orders.
Trading steps are simple:
- Log in and navigate to the spot trading interface.
- Select a trading pair and ensure sufficient funds are available.
- Choose order type and direction (buy/sell), enter details, and confirm.
The platform provides real-time charts, order book data, and trade history to assist decision-making.
Supported Cryptocurrencies
BingX supports over 750 cryptocurrencies, including major assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Cardano (ADA). It also lists popular altcoins such as:
- Ripple (XRP)
- Near Protocol (NEAR)
- Avalanche (AVAX)
- Polygon (MATIC)
- Tron (TRX)
- Litecoin (LTC)
- Chainlink (LINK)
Memecoins like Dogecoin (DOGE), Pepe (PEPE), Shiba Inu (SHIB), and Bonk (BONK) are also available.
Security Measures
BingX places a high priority on security, implementing multiple layers of protection:
- Risk Management: Uses two-factor authentication (2FA) and AI-based threat detection.
- Custody Solutions: Employs bank-grade custody and regular audits by firms like CertiK and SlowMist.
- Insurance Fund: Provides coverage for unexpected losses.
- Strategic Partnerships: Collaborates with cybersecurity experts to address vulnerabilities and prevent attacks.
The exchange has maintained a clean security record with no major breaches since its launch. It holds a BBB rating from CER (Crypto Exchange Ranks), reflecting its strong security infrastructure.
BingX Wealth Management
BingX Wealth offers users opportunities to earn interest on idle crypto assets. It includes flexible and fixed-term products with zero subscription or redemption fees.
Key features:
- Capital Preservation: Low-risk options with stable returns.
- Transparency: Assets are backed by Merkle Tree Proof of Reserves.
- VIP Benefits: Higher returns for VIP users.
Shark Fin Products
Shark Fin is a principal-guaranteed product that allows users to earn yields based on market performance. Users choose a direction (bullish or bearish) and a price range for assets like BTC or ETH. Returns are higher if the asset stays within the range upon maturity; otherwise, a base interest is paid.
Advantages include no principal risk, zero fees, and quick redemption.
Fee Structure
BingX employs a competitive and transparent fee system:
- Spot Trading: 0.1% for both makers and takers.
- Perpetual Futures: Maker fee: 0.0200%, Taker fee: 0.0500%.
- Standard Futures: 0.0450% per trade.
VIP users benefit from reduced fees based on their trading volume or asset holdings. The platform offers multiple VIP tiers with progressively lower fees for both spot and futures trading.
Conclusion
BingX is a well-established cryptocurrency exchange known for its diverse trading options, strong security, and user-friendly services. It caters to both beginners and advanced traders with features like copy trading, futures, and wealth management products.
The platform complies with international regulations and maintains a clear fee structure, making it a trustworthy choice for global users. Whether you are looking to trade, invest, or earn passive income, BingX offers a comprehensive suite of tools to meet your needs.
Frequently Asked Questions
What is BingX?
BingX is a cryptocurrency exchange that offers spot trading, derivatives, copy trading, and asset management services to over 10 million users worldwide.
Is BingX a secure platform?
Yes, BingX employs advanced security measures, including 2FA, AI monitoring, bank-grade custody, and regular audits. It has no history of major security breaches.
Which cryptocurrencies can I trade on BingX?
The exchange supports over 750 cryptocurrencies, including Bitcoin, Ethereum, Solana, Cardano, and many memecoins like DOGE and SHIB.
What are the trading fees on BingX?
Fees vary by product: spot trading costs 0.1%, perpetual futures have maker/taker fees of 0.0200%/0.0500%, and standard futures charge 0.0450% per trade. VIP users enjoy lower fees.
Is BingX available in the United Kingdom?
Currently, BingX does not offer services to users in the UK due to regulatory considerations.
Does BingX require KYC verification?
Yes, KYC verification is required for higher withdrawal limits and full access to platform features. The process is quick and can be completed online.