BingX is a cryptocurrency exchange founded in 2018, now serving over 10M users from around the world. It offers attractive features such as leverage up to 125x and more than 800 tradable coins, in addition to margin reserves verified by Mazars partnership.
The exchange does not provide services to clients from some countries, including the US, UK, Iran, North Korea, and more.
BingX: Company Information + Regulation
This company was founded in 2018, based in Singapore. Although headquartered in Asia, it has branch offices in Canada, Europe, and Australia.
BingX is a private company, led by Josh Lu as CEO. The exchange is not regulated by any major authorities, like many other crypto exchanges in the world.
BingX Specifications Summary
Let's break down the key features of the exchange in a nutshell:
Exchange | BingX |
Launch Date | 2018 |
Levels | Unverified, Basic KYC, Advanced KYC VIP Levels 1-2-3-4-5-Supreme |
Trading Fees | From 0% |
Restricted Countries | US, UK, Iran, Iraq, North Korea, Netherlands, Etc. |
Supported Coins | +800 |
Futures Trading | Yes |
Minimum Deposit | $1 |
Deposit Methods | Crypto, Credit/Debit Cards |
Withdrawal Methods | Crypto, Credit/Debit Cards |
Maximum Leverage | 125x |
Minimum Trade amount | $1 |
Security Factors | 100% Margin Reserves Verified By Mazars |
Services | Copy Trading |
Customer Support Ways | Email, Live Chat |
Customer Support Hours | 24/7 |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | Market |
Native Token | None |
User Levels on BingX
User levels in this exchange are designed based on verification status, and each level has its corresponding benefits. User Level Structure on BingX:
Verification Status | Cumulative Deposit (USDT) | Trading | 24h. Max Withdrawal (USDT) | P2P | Launchpad |
Unverified | Not available | Not available | 20K | Not available | Not available |
Basic KYC | 2K | Allowed when total deposits are within 2K USDT | 20K | Not available | Not available |
Advanced KYC | Unlimited | Allowed | 5M | Allowed | Allowed |
BingX Fees and Commissions: Complete Overview
This exchange has created a VIP user leveling structure with differences in fees. In the table below, we will have a look at the VIP levels specifics for the spot market:
VIP Level | 30d Total Trading Volume (USDT) | Yesterday's Asset Value (USDT) | Maker Fee | Taker Fee |
VIP 0 | - | - | 0.1% | 0.1% |
VIP 1 | At least 1M | At least 50K | 0.035% | 0.06% |
VIP 2 | At least 2M | At least 200K | 0.02% | 0.05% |
VIP 3 | At least 4M | At least 1M | 0.015% | 0.045% |
VIP 4 | At least 6M (API Trading Volume at Least 20%) | At least 2M | 0.0125% | 0.0375% |
VIP 5 | At least 8M (API Trading Volume at Least 20%) | At least 3M | 0.01% | 0.0325% |
Supreme VIP | At least 15M (API Trading Volume at Least 20%) | - | 0.005% | 0.02% |
VIP Levels for Futures Trading:
VIP Level | 30d Total Trading Volume (USDT) | Yesterday's Asset Value (USDT) | Maker Fee | Taker Fee |
VIP 0 | - | - | 0.02% | 0.05% |
VIP 1 | At least 10M | At least 50K | 0.014% | 0.04% |
VIP 2 | At least 20M | At least 200K | 0.012% | 0.0375% |
VIP 3 | At least 50M | At least 1M | 0.01% | 0.035% |
VIP 4 | At least 100M (API Trading Volume at Least 20%) | At least 2M | 0.008% | 0.0315% |
VIP 5 | At least 200M (API Trading Volume at Least 20%) | At least 3M | 0.006% | 0.03% |
Supreme VIP | At least 600M (API Trading Volume at Least 20%) | - | 0% | 0.028% |
BingX Supported Coins
This exchange performs really well when it comes to coin selection, with over 800 cryptocurrencies available, including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- Solana (SOL)
- XRP
- Pepe
- Toncoin
- Dogecoin (DOGE)
Futures and Margin Trading on BingX
Margin trading and futures are trading services that could come with much higher profit but for more risk. For the thrill-seekers and strategic traders, this exchange offers:
- Futures Trading: Speculate on future prices with up to 125x leverage
- Margin Trading: Borrow funds to increase the rate of your gains (with the risk of more losses)
Key Features:
- User-friendly interface for complex trading strategies
- Advanced risk management tools
- Real-time market data and analysis
- Market, trigger, and limit order types
- Standard and perpetual futures available
Registration and Verification on BingX: Complete Guide!
In this section, we will explain the stages of account registration on the official website. Registration Steps:
- Visit the BingX website;
- Click on "Sign Up";
- In the form, provide your email or phone number. Alternatively, use your Google account. In this tutorial, we are going with the email;
- Set a strong password containing numbers and letters;
- Verify your email or phone number by entering the received code.
Now, your account is set up. For KYC verification, provide the required documents in the profile section of the website.
BingX Exchange Security and Safety Measures
Regarding the security of clients' funds, this company has done a good job in most parts, and has taken these measures in order to keep up the safety level:
- Firewalls and encryptions
- Multi-factor authentication
- Continuous monitoring
- Incident response strategy
- Proof-of-reserve
BingX Payment Methods
Depositing and withdrawing on BingX does not provide many options, similar to most of other exchanges:
- Credit/Debit Cards: Visa/Mastercard (not available in all countries)
- Cryptocurrencies: major and popular coins, through crypto wallets or other exchanges
The availability of payment methods may vary by region, so check the platform for options specific to your location.
BingX Scores and Reviews on Trust Websites
The crypto community has spoken, and the verdict on the mentioned company is mixed. These scores are fromā experts and users:
- Trustpilot: 2 out of 5, based on over 300 user reviews
- Reviews.io: 2.4 out of 5, based on around 10 user scores
Overall, the scores are at a lower-than-average level, but the amount of reviews is not so high to consider them 100% reliable.
BingX Copy Trading Services Overview
Copy trading is one of the top features on this exchange, with attractive benefits for traders, especially those new to the financial world. Important specifics and features of copy trading in BingX:
- Separate fees, depending on the asset and signal provider
- Profitability up to 2400% for top providers
- Ability to det criteria like performance and risk level
- Over 9,000,000 established copy relationships
- $10 subsidy voucher
Writer's opinion and conclusion
BingX is one of the popular exchanges in the crypto industry, with leverage up to 125x, 100% margin reserves verified by Mazars organization, and other attractive aspects.
However, as discussed in this article, there are some negative reviews and scores of this company. Nevertheless, one cannot say for sure that BingX is not reliable because of few ratings.
Therefore, you should do your own research in order to find out about its reliability. Afterward, you will be able to decide if it's the right choice for you.
