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BingX Review 2024

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BingX Review 2024
Margin Trading
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Investing and trading in financial markets such as the stock exchange, forex, digital currencies in the form of spot or with leverage face a high inherent risk. According to the statistics of all exchanges and brokers, more than 75% of people lose!

Overview
Company:BingX
Headquarter:Singapore
Founded:2018
Coins:800
US Accepted:
Max Leverage:1:125
About
BingX, a cryptocurrency exchange established in Singapore and led by Josh Lu, provides 24/7 customer support and offers trading with fees down to zero and leverage of up to 125x. The company is not regulated by major authorities and has a Trustpilot score of 2.2/5.
Contact
Singapore, Republic of Singapore
Rank and Score
Pros and Cons
User Levels
Pros
Global Reach
Competitive Fees With Discounts For Higher Volume Traders
High Leverage
Robust Security
Diverse Trading Options
Cons
No Phone Call Support
BingX Exchange
BingX exchange complete review of main specifications and features

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:

  1. Visit the BingX website;
  2. Click on "Sign Up";
BingX registration form
BingX registration form requiring email address or phone number
  1. In the form, provide your email or phone number. Alternatively, use your Google account. In this tutorial, we are going with the email;
  2. Set a strong password containing numbers and letters;
  3. 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€Œ experts and users:

Trustpilot users score of bingx
BingX score of 2.2/5 on Trustpilot with over 300 reviews
  • 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.

FAQs

Is BingX safe to use?

The exchange employs robust security measures, but always use 2FA and practice safe trading habits.

Can I use BingX without KYC on BingX?

Basic trading is possible without KYC, but verification unlocks higher limits and features.

What are BingX's trading fees?

Fees start at 0.1% for spot trading and 0.05% for futures, with discounts for high-volume traders.

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