BingX

BingX Review – What is BingX?

BingX is a medium-sized but reliable crypto exchange with a focus on providing safe trading for crypto assets, with a small selection of stock indices, forex and commodities. With plenty of trading markets, varied features and high volume, BingX is a well-rounded platform comparable to the biggest exchanges.

In our BingX review we will explore more about deposit methods and costs, trading markets and fees, other relevant exchange features, and safety and security concerns.

Who is BingX For?

• First time crypto investors: For first time buyers, BingX is a good choice. Direct fiat (local currency) deposits can done via cards and bank transfers, some of which even have no fees. The new-user experience is solid with several features that make first time buying a breeze such as quick buy/quick convert.
• Beginner traders: Investors who wish to trade crypto from time to time will find BingX excellent. It has a great mobile app, plus features such as copytrading, demo trading and staking that can help you get started or practice trading without risk, or earn passive income with your portfolio.
• Professional traders: BingX shines for professional day traders, with plenty of advanced options in the user interface (UI), features such as trading bots and loans, and over 1050 altcoins listed. On Futures, BingX even lets you trade traditional assets (forex, indices, stocks and commodities), and you can even earn staking returns with Futures trading balances.

Pros and Cons

Deposits – How to Deposit Money to BingX?

Summary of fiat services:

• BingX lets you deposit directly to exchange with credit or debit cards, and several major bank transfer methods.
• Alternatively, you can use dozens of additional payment methods by using integrated 3rd party payment services or P2P market, but these can have higher fees.
• You can also withdraw crypto as local currency directly to your bank account.
• All crypto deposits are free, while crypto withdrawal fees are within industry standards, often under $1 per transaction.

1. Direct Fiat Deposit Methods

To deposit local currency (fiat), you can use credit or debit cards, Apple and Google Pay, or a selection of bank transfers (SEPA for Europe/Euros, PIX for BRL/Brazil, BLIK in Poland, or SWIFT transfers for international users and other currencies. Most deposit fees our outlined in the BingX Fees section in the top of our review.

Fees in summary: Visa/Mastercard fees are generally high, but the same is always the case on any exchange. Most bank transfers have no fees, or are very cheap.

2. 3rd Party Gateway Deposits

As alternative to deposits directly to BingX, you can also choose from multiple third-party payment gateways. Buying through gateways will also deposit funds onto your exchange wallet, but payment will be done through 3rd party services that often charge high fees (typically between 3% and 6%).

As an upside, the 3rd party gateways provide support for practically any local currency, and can accept payment through dozens of mainstream but also country-specific payment methods (local banks, digital wallets, etc.).

3. P2P Market

In peer-to-peer market, you can buy crypto directly from other individuals in a safe manner. For its P2P marketplace, BingX in integrated Paycat, which is a third-party platform. By using P2P, you can access crypto buying with many additional payment methods not traditionally available, for example Payeer, Wise, Payoneer, Revolut, or Zelle.

In addition, many local payment methods are available depending on currency. For example, you can use Gcash or Paymaya in Philippines, or Chipper Cash or local bank transfers in Nigeria. In Mexico, you can use STP, Mercado Pago Mexico, BBVA, Banorte, Banco Santander, etc.

BingX’s P2P marketplace can provide a good alternative to users in countries where traditional global payment methods are unavailable or inconvenient. Worth a check!

4. Cryptocurrency Deposits

Any crypto asset listed on BingX’s Spot market can be deposited to the exchange. All deposits are completely free, and no fees will be charged.

Withdrawals – How to Withdraw Money From BingX?

You can cash out fiat to bank accounts, withdraw crypto to another exchange or service, or use some of the other alternative means to get profits off the exchange.

1. Fiat Withdrawals

Withdrawing crypto as fiat to your bank account can be done through SEPA bank transfers (EUR), PIX (BRL), or SWIFT for international bank transfers. Fees will depend on your chosen payment method, and again it’s all outlined above the in the fees section. For example, SEPA withdrawal in Euros will only cost €2 – very cheap.

Alternative withdraw methods are available in the P2P market. You can use P2P to receive cash to your bank in practically any country or currency. Or, you can deposit funds onto various digital wallets and payment services.

Lastly, another alternative way to spend your crypto directly is with BingX Card. This physical Mastercard can be used online or offline at any merchant to spend crypto as fiat.

2. Cryptocurrency Withdrawals

Similarly, all listed crypto assets can be withdrawn from BingX to another exchange or self-custody wallets. Here are the fees for most popular assets:

• Bitcoin: 0.000049 BTC on mainnet, 0.000001 on BEP20 network
• Ethereum: 0.0014 on ERC20, 0.0001 on Arbitrum, Optimism
• USDT: 7 USDT on Ethereum (ERC20), Free on BNB, 0.15 to 1 USDT on other networks
• USDC: 7 USDC on ERC20, 1 USDC on Solana and Tron, 0.1 to 0.5 USDT on Layer 2 networks (Polygon, Optimism, Arbitrum, Base, …)
• XRP: No fee on Ripple network, 0.0053 on BNB
• Dogecoin: 2.26 DOGE on Dogecoin network, 0.058 on BNB
• TRX: 0.8 TRX on TRC-20, 0.049 TRX on BNB

In summary, crypto withdrawals are very cheap and BingX won’t charge you any high withdraw fees. For both fees are convenience, it’s often cheapest and easiest to withdraw USDT or USDC through Layer 2 networks such as Arbitrum or Polygon. You won’t pay more than $1 per transaction.

Trading – How to Trade on BingX?

On BingX, you can trade Spot crypto, either through regular spot trading interface or the quick convert feature. The platform also lets you trade derivatives markets as perpetual futures settling in either coin or USD margin. Additionally, “Standard Futures” and “Futures Kickoff” are available as newbie-friendly introduction to futures trading.

On top of the above, you can also use BingX’s “Pre-market trading” to trade upcoming tokens before their official releases on exchanges. As another means of speculation in risky assets, ChainSpot feature lets you trade on-chain coins directly with spot wallet balances, without the need to set up web3 wallets. Lastly, you can also try your luck with Copy Trading, where you can automatically copy positions made by lead traders.

Below, we’ll explore how each of these trading markets works.

1. Convert

With Convert, you are essentially trading the Spot market. Except, there’s no charts, order books or advanced trading options. Through Convert, you will simply swap one asset for another with a couple of clicks.

The entire process should be fairly self-explanatory with the image above. It’s important to note that using Convert has a 0.20% transaction fee (up to ~0.30% in some cases). In comparison, trading through regular Spot trading will only charge half as much: 0.10%.

2. Spot Trading

Spot trading is where you get to buy or sell more than 1050 altcoins. If you want simple investment and ownership of assets, you’ll be using the spot market.

The UI (user interface) is no more complex than any other Spot trading exchange, but offers a good degree of customization. You can resize panels to your liking, and even hide the order book and recent trades.

On the TradingView chart, you can optionally enable showing positions, which can help you quickly glance your entries, exits and profits. Supported order types are Market, Limit, TP/SL, Trigger, and OCO – enough for almost anyone. Advanced users can also use a Spot Grid Bot for automated trading.

Overall, we haven’t found any issues with BingX’s spot trading UI. It just works, offers good (but not best) customization options, and we had no problems executing trades.

Spot trading fees: 0.10% per transaction, for both maker and taker orders. Pro tip: you can use Cexfinder’s signup link to reduce all Spot and Futures trading fees by 5%, at no cost or downside for you.

3. Perpetual Futures Trading

You can trade both Perpetual (crypto) and Standard (crypto, forex, indices, commodities) Futures contracts.

In regular crypto perp futures, you can trade USDT-margined and coin-margined contracts. You can use Cross or Isolated margin modes, in either Hedge of One-Way trading modes. Maximum leverage you can apply is 125X on Bitcoin, 100X on major altcoins like Ethereum or Solana, and lower on some other altcoins.

Compared to Spot market, additional order types are available: Limit, Market, Trigger, Trailing Stop, Post-Only, TWAP, Scaled Order, and Chase Limit. This is a very comprehensive selection of order types that will satisfy even the most demanding traders.

The entire user interface is very similar to Spot, and offers the same level of customization. Trading fees on Futures are 0.02% or 0.05%, depending on your order. When we compared fees on all crypto exchanges, BingX was industry-average on Futures, with same fees as Binance, Bybit or Kraken.

Don’t forget to use our BingX signup link with referral code: it applies a 5% Spot and Futures trading fee discount to your account. We promise there’s absolutely no downside to using it, only benefits.

4. TradFi: Stocks, Indices, Forex and Commodities

On BingX you can trade additional assets beyond cryptocurrency:

• Stocks: You can trade xStocks tokenized stocks on Spot market, but also regular stock Futures with leverage. As of our latest review about 20 major stocks were tradeable (Intel, Meta, Tesla, Microsoft, McDonald’s, Nvidia, Google, …), but selection is frequently expanding.
• Stock indices: Currently, NASDAQ, SP500, DowJones, Russell2000, and Nikkei 225 are available.
• Forex: You can trade US dollar (USD), Euro (EUR), Canadian dollar (CAD), Swiss franc (CHF), Great British Pound (GBP), New Zealand dollar (NZD), Australian dollar (AUD), Singapore dollar (SGD), and Japanese yen (JPY) pairs. Also available are ILS, NOK, TRL, ZAR, MXN, and NOK pairs.
• Commodities: For those interested in commodities trading, BingX lets you trade precious metals like gold, silver and platinum, but also oil, corn, and wheat. Additional assets are also available (cotton, soybean, sugar, cattle, copper, aluminum).

In Standard Futures, leverage can be from 25X to 200X, depending on specific assets. For example, you can trade gold with 200X, but silver with “only” 50X leverage. Visit BingX’s TradFi page for a live overview of available assets.

Don’t miss swapping to and from USDT-margined Futures and Standard Futures in the site’s Futures menu. The selection of traditional assets will be different in both.

5. Futures Kickoff

The Futures Kickoff feature is intended for crypto beginners who wish to speculate on prices in a simple manner. The Kickoff can be suitable for quick scalping, but in all honesty we wouldn’t recommend using it. You won’t be able to set proper take-profit or stop-loss orders, making the feature feel like gambling rather than trading.

Nevertheless, if you want to scratch your speculative itch, you can try the Futures Kickoff for a bit of fun. But if you wish to simply practice trading, you can also do it risk-free in Demo Trading feature.

6. Demo Trading

Demo trading (often called Mock or Paper trading elsewhere) is perfect for beginners who wish to try their hand at Futures trading, but don’t want to risk actual money.

You can switch to the Demo mode at any time via the button indicated on the image above. You will receive $100,000 virtual cash that you can use as you like. The exact same features and capabilities are available in Demo as regular Futures trading, so you’re getting the full experience, just without any risks.

7. Pre-Market Trading

In pre-market trading, you can buy or sell new tokens before their official launch. This enables you to trade potential crypto gems early. Of course this type of trading comes with some risks. Meaning, it’s best left to experienced traders who do in-depth research into new projects and have a better understanding of potential prices after official listings.

Previously listed and available projects included Move, Scroll, WalletConnect, Babylon, Fuel, Linea and others. Perhaps the best potential use case of pre-market trading is to sell airdropped tokens early.

8. ChainSpot

ChainSpot lets you trade on-chain assets directly with your spot wallet balances. Think of it as a seamless blend of decentralized exchange trading and web3 wallets, but without having to go through the non-user-friendly and often complex process often associated with DEX trading.

For the curious, our ChainSpot guide has a more in-depth look at how it all works. Essentially, BingX makes it very easy to invest in latest tokens or memecoins. But obviously it has its risks and shouldn’t be used carelessly.

9. Copy Trading

Last option to trade on BingX is through Copy Trading. The feature lets you select from over 2,000 lead traders, some of whom have very impressive track records, and in some cases thousands of traders copying their positions.

Finding lead traders is easy, because BingX provides plenty of filters to find the best ones. You can sort them by account assets, cumulative profits and losses, number of copiers, and other factors. In addition, a very comprehensive set of filters is available to further narrow down top performers.

Each individual lead trader has incredibly detailed trading data available. You can see their historical performance, return on investment, weekly or monthly profits, copier profits, win ratio, average profits, trading frequency, and more. You can even view exact currently open positions, or entire trade history. In short, you can assess every lead trader in great detail, and find one that’s just right for your risk appetites.

Copy trading is available on Spot, Standard Futures and Perpetual Futures, each catering to specific levels or risk or available capital. Needless to say (but we’ll say it anyway), letting others manage your trades is never without risks. Caution and proper risk management is always advised.

Top BingX Features

BingX isn’t just a basic trading platform. There are many more features that can be used by both beginner investors and advanced traders. Here’s a few of our highlights.

1. Launchpool

If you hold USDT or BTC on the exchange, you can participate in frequent Launchpool events. In Launchpools, you can stake your idle coins for a short duration (typically under a week), and receive airdrops for newly released tokens.

BingX typically runs one event per month or so, and you’re not going to get rich with them. But, they can provide additional income with essentially zero risk. The events can be particularly lucrative for new users, because BingX often has new-user exclusive USDT staking pools with fewer participants and therefore higher earnings.

2. Earn

With Earn, you can receive passive income just for holding certain crypto assets on the exchange. Both Fixed and Flexible terms are available. Fixed has a set duration such as 7, 30, 60 or 90 days, during which you can’t trade your assets. In Flexible, you can redeem your assets at any time, and keep all the accumulated rewards.

At the time of our latest exchange review, around 50 assets are listed in Earn. USDT, USDC and USDD stablecoins, Bitcoin, Ethereum, Solana, Cardano, Aptos, Arbitrum, Avalanche, Dogecoin, Filecoin, Jupiter, Litecoin, and many more coins are available.

When compared with other exchanges with staking and earn programs, BingX’s APYs (annual percentage yield; basically yearly returns) are average. On most altcoins, you can expect around 5% returns. The returns can fluctuate on a daily basis, and depend on asset and staking duration, so it’s best to visit BingX for live rates.

In addition to Flexible and Fixed staking, you can also invest in Shark Fin or Dual Investment products. These are best left to experienced investors, however.

3. Loans

Need access to quick crypto capital? If trading with leverage isn’t enough, you can take our crypto loans on BingX in Bitcoin, Ethereum, Solana, or USDT.

The borrowing rates are very competitive and among the industry lowest. If you need additional trading margin, this is the place to get it. The borrowed assets can even be withdrawn off the exchange, and you can repay them at any time.

4. BingX Card

BingX Card is a regular physical Mastercard that can be used for payments at any merchant or store that accepts cards. You simply load it with your BTC, ETH, USDT or USDT cryptos. When spending, these are simply converted to Euros based on current exchange rates, in turn letting you spend crypto seamlessly.

The card has a €1 monthly maintenance fee, and a 1% deposit fee. Payments within EEA (European Economic Area countries) are free. But for purchases outside of EEA, a 2% (min 0.60 EUR) transaction fee will be charged. Similarly, ATM withdrawals also have a 2% fee (or minimum €3).

At the moment, the card can not be linked to Google Pay and Apple Pay services. Additionally, it can’t be used for recurring payments.

BingX card is available globally, with some restrictions. Users from regular BingX restricted countries are of course unable to apply. The FAQs also mention that some other countries may experience “higher likelihood of application failure” (mostly limited to African countries).

Update March 12, 2026: BingX card is currently unavailable because its issuer (Paytend Europe UAB) had its EMI license revoked in Lithuania. Stay tuned for updates.

5. Trading Bots

For automated trading, BingX has a small selection of available bots. On Spot, you can use Spot Grid and Spot Infinity Grid. On Futures, you can use Futures Grid and Martingale bots.

For a more comprehensive trade bot selection you can check Bitget or Pionex exchanges. Alternatively, you can see our Trading Bots filter to see all exchanges with trading bots.

Other Features & Benefits

• Subaccounts: With subaccounts, you can for example isolate your trading assets from main portfolio. This can be useful for high-risk trading, or simply to separately track different trading strategies. There are other uses cases too, and users who need this feature will surely appreciate its availability.
• TradingView (TV) Integration: Exchanges with TradingView integration let you execute trades directly from TradingView’s website. As a verified broker, you can safely use BingX straight from the TV platform, and use its myriad of indicators, tools or custom strategies to trade.
• Welcome Gift: New users can claim a 50 USDT sign-up reward, 500 USDT deposit reward, and 500 USDT trading rewards. Additional signup rewards are available, totaling over 5,000 USDT.

Safety & Security – Is BingX Safe For Trading?

BingX is a Singapore-based exchange launched in 2018. The company is currently headquartered in British Virgin Islands, with branch offices in Canada, EU, and Australia. But is BingX safe to use? Let’s explore some key safety and security factors.

• Funds safety: Uses cold storage to secure user funds in offline wallets. $150M insurance fund is in place to compensate users in case of potential hacks or security breaches.
• Proof of Reserves: Merkle Tree Proof of Reserves reports are regularly published. So far, all customer deposits were safely stored and accounted for.
• Bug bounties: Active bug bounty program is available on hackenproof, which rewards users for reporting bugs or security issues.
• Previous hacks: In September 2024, The exchange was hacked and $42 million was drained from hot wallets. No customers lost funds, all services were restored shortly after, and a $5 million airdrop was launched to compensate users for inconvenience.
• Regulatory licensing: BingX has Money Services Business (MSB) licenses in United States and Canada. Other notable licenses or approvals have not been publicized. This is not unusual for no-KYC exchanges.
• Customer support: Available 24/7 through different channels, including live chat on the website. Comprehensive beginner’s guides and help center articles will easily answer most of your questions.
• User base and volume: According to BingX, the platform has more than 40 million users, but this number hasn’t been independently verified in any way, nor do we know how many of those users are considered active. On CoinMarketCap, BingX is typically within top 20 exchanges by volume on both Spot and Derivatives markets.
• Third party ratings: CoinGecko scored the exchange with 9/10 as the world’s #9 CEX. Cer.live (crypto security certification platform) scored BingX with 76/100 total, scoring max 100 on server security, bug bounty use and penetration tests.
• User account security: 2FA (2-factor authentication) is mandatory, and you can use email, SMS verification or Google’s Authenticator app to log in. Additional security features include anti-phishing code, account history, and account lock (freeze) for emergencies.

Is BingX a Safe Exchange?

BingX is a legitimate crypto exchange operating since 2018. The company has a frequent presence at various crypto conferences and events, and its leadership is known and trusted. There’s no evidence to suggest BingX is a scam or operating illegally.

The platform has optional identity verification (KYC), so it lacks official institutional or government approvals. The platform had a sizeable hack fairly recently, but recovered from it immediately, and no user funds were lost.

For additional transparency, we would like to see more information about ratio of customer deposits in hot vs cold wallets, plus more details about security practices. Account security also has room for improvement: for extra safety we’d like to see features such as withdrawal whitelists or trading passwords added.

In the future, additional regulatory licenses would also be a welcome sight. But keep in mind BingX is a privacy-focused exchange with optional ID verification, so obtaining licenses would likely eventually necessitate mandatory KYC.

In short, BingX is legit and there’s no major or immediate concerns. You can safely trade on this exchange and it won’t steal your funds. Remember that you can use leverage when trading on Futures, so only a small portion of your portfolio needs to be on the exchange at any given time.

Conclusion – Is BingX a Good Crypto Exchange?

In our opinion, BingX is an excellent trading platform for just about anyone. Multiple beginner-friendly features (plus cheap deposits) make it very suitable for first-time investors. On the other hand, plenty of advanced features and ways to trade and invest make it perfect for all types of investors: day traders, scalpers, on-chain degens, long-term holders, airdrop hunters, or others.

Unlike vast majority of crypto exchanges, BingX also lets you trade traditional markets. If you want to dabble into gold, indices or forex, the platform will make it easy to speculate on prices with a familiar interface and low fees. To top it all off, the exchange can be used without identity verification with very generous limits (no trading limits, 5,000 USDT daily deposit limit, and 50,000 USDT daily withdrawal limit).

In summary, BingX is not the world’s best or biggest exchange. But if you need a reliable alternative exchange with many altcoins, optional KYC and cheap trading fees, definitely give it a go.