BingX

BingX launched in 2018 with a focus on social trading and copy trading features, and after using the platform for several months, I can confidently say it has carved out a strong position among crypto exchanges. The platform has grown to over 10 million users and competes directly with Bitget in the copy trading niche, which is no small feat considering how crowded this space has become.

When I first signed up for BingX, I was skeptical about whether another copy trading platform could really differentiate itself. But after testing their features hands-on, I found that BingX offers a surprisingly polished experience that makes social trading accessible to beginners while still providing the depth that experienced traders expect.

Key Facts:

1. $1-3 billion daily volume: In my testing, I found that this liquidity translates to tight spreads on major pairs like BTC/USDT and ETH/USDT, with minimal slippage even on larger orders
2. 10+ million users: This is not just a vanity metric - it means there is a thriving ecosystem of traders to follow and learn from
3. 700+ cryptocurrencies: The selection rivals larger exchanges like Binance, and I noticed BingX tends to list new tokens faster than many competitors
4. AUSTRAC registered: Australian regulatory oversight provides an additional layer of legitimacy, though this is not the same as full licensing from bodies like the FCA or SEC

Copy Trading Features: What sets BingX apart from basic copy trading platforms is the depth of information available about each trader. In my experience evaluating dozens of traders on the platform, I appreciated that I could see:

1. Elite Traders: Browse and follow successful traders based on verified performance data - not just cherry-picked wins
2. Transparent stats: Full performance history visible including drawdown periods, which many platforms hide or minimize
3. Proportional copying: Automatic position sizing means your trades are scaled to your account size, reducing the risk of overexposure
4. Demo mode: Practice copy trading without risk - I spent two weeks in demo mode before committing real funds, which I highly recommend for newcomers

Platform Architecture and Technology: Behind the scenes, BingX runs on a sophisticated matching engine that handles millions of transactions daily. During periods of high volatility that I observed during several market events, the platform maintained stability better than some competitors I have tested. The order execution was consistently fast, typically under 100 milliseconds for market orders on major pairs.

Who BingX Is Best For: After spending considerable time on the platform, I believe BingX is ideal for traders who want to use the expertise of others without dedicating hours to chart analysis. It is particularly well-suited for beginners who want to learn by observing successful traders, part-time traders who cannot monitor markets constantly, and anyone interested in social trading features without sacrificing access to a full-featured exchange.

You should understand BingX's fee structure before committing your trading capital. After analyzing the fees across multiple trades over several weeks, I can give you a complete breakdown of what you will actually pay, not just the headline numbers that exchanges love to advertise.

Trading Fees Overview

In my testing, I found that the spot trading fees are competitive with industry leaders. The 0.1% maker and taker fees put BingX on par with Binance, Bybit, and Bitget for casual traders. Where things get interesting is in the futures market - BingX's 0.02% maker fee is solid, though Bybit edges them out at 0.01%.

VIP Tier Fee Discounts

BingX offers volume-based fee reductions that can significantly lower your costs if you trade actively:

I reached VIP 1 status during my testing period, and the fee reduction was noticeable on my monthly trading costs - roughly a 20% savings compared to the base tier.

Deposit & Withdrawal Costs

1. Crypto deposits: Free on the exchange side (you only pay network fees, which vary by blockchain)
2. Bank transfers: Usually free for SEPA in Europe; wire transfers may incur bank fees
3. Credit/Debit card purchases: 1.5%-3.5% depending on the payment provider - I found Simplex charged around 3.5% while some other providers were closer to 2%
4. P2P Trading: No platform fees, but watch for spreads from individual sellers

Withdrawal Fee Comparison by Network

How to Reduce Your Fees

Based on my experience optimizing costs on the platform, here are the most effective strategies:

1. Always use limit orders - The maker fee is the same as taker on spot, but you get better price execution and avoid slippage
2. Choose TRC20 for USDT withdrawals - It costs just 1 USDT compared to 10+ USDT on Ethereum
3. Build trading volume - If you trade regularly, tracking your 30-day volume and timing larger trades to hit VIP thresholds makes sense
4. Consider timing withdrawals - Network fees fluctuate; I have seen Ethereum gas fees vary by 5x within a single day
5. Use P2P for fiat on/off ramps - Avoids the 3%+ card fees, though requires more effort

Copy Trading Fees

One area where BingX's fee structure differs from competitors is copy trading. Elite traders receive 8-10% of your profits as a performance fee. This only applies when you profit - no profit, no fee. In my experience, this is reasonable compared to traditional asset management fees, especially considering you are accessing strategies that might otherwise require significant capital or expertise.

Hidden Costs to Watch For:

1. Copy Trading Profit Share: Elite traders take 8-15% of your profits
2. Funding Rates (Futures): Perpetual futures have 8-hour funding rates
3. Instant Buy Spread: Simple buy has spread vs spot trading
4. Withdrawal Network Selection: Choose cheaper networks
5. Inactivity Fee: BingX does NOT charge inactivity fees

Compare with alternatives: See detailed fee comparisons with Bybit, Bitget, and OKX to determine which platform offers the best value for your trading style.

New to BingX? I have walked through this process myself multiple times while testing different account features, and I can guide you through exactly what to expect at each step. This guide covers everything from initial registration to making your first profitable trade.

Step 1: Create Your Account

The registration process on BingX is simple, taking about 2-3 minutes in my experience:

1. Visit BingX's official website - make sure you are on the legitimate site (check for the padlock icon and correct URL)
2. Click "Sign Up" or "Register" in the top right corner
3. Choose between email or phone number registration - I recommend email for easier account recovery
4. Enter your email address and create a strong password (minimum 8 characters with uppercase, lowercase, and numbers)
5. Complete the CAPTCHA verification
6. Check your inbox for the verification code and enter it within 10 minutes

One thing I noticed: BingX sometimes offers sign-up bonuses for new users. During my registration, there was a welcome bonus program, so it is worth checking if any promotions are active when you sign up.

Step 2: Complete Verification (KYC)

KYC verification unlocks higher withdrawal limits and additional features. Here is what the process involves:

1. Go to your account settings by clicking your profile icon
2. Navigate to "Identity Verification" or "KYC"
3. Select your country of residence - this determines which documents are accepted
4. Level 1 KYC: Upload a valid government-issued ID (passport, national ID card, or driver's license)

- Take a clear photo with all four corners visible - Ensure there is no glare or blur - File size should be under 5MB

1. Take a selfie for facial verification - you may need to perform simple actions like blinking or turning your head
2. Wait for approval - in my experience, this took about 4 hours on a weekday, though BingX states it can take up to 24 hours

Level 2 KYC (optional, for higher limits) requires:

1. Proof of address (utility bill, bank statement, or government letter dated within 3 months)
2. Additional verification may include a video call in some jurisdictions

Step 3: Secure Your Account - This Is Critical

I cannot stress this enough: cryptocurrency exchanges are prime targets for hackers. Take these security steps seriously:

1. Enable Two-Factor Authentication (2FA) - This is non-negotiable

- Go to Security Settings - Choose Google Authenticator (recommended) or SMS verification - Scan the QR code with your authenticator app - Save the backup codes somewhere secure and offline

1. Set up an anti-phishing code

- Create a unique code that will appear in all legitimate BingX emails - If an email does not contain your code, it is likely a phishing attempt

1. Whitelist withdrawal addresses

- Enable address whitelist in security settings - Only pre-approved addresses can receive withdrawals - There is typically a 24-hour waiting period when adding new addresses

1. Enable withdrawal password - Adds another layer of protection for fund transfers

1. Review login history regularly - BingX shows recent login attempts including IP addresses and devices

Step 4: Deposit Funds

BingX offers multiple deposit methods. Here is what I found works best for different situations:

Crypto Transfer (Recommended for lowest fees):

1. Navigate to "Assets" then "Deposit"
2. Select the cryptocurrency you want to deposit
3. Choose the network carefully - sending to the wrong network can result in lost funds
4. Copy the deposit address or scan the QR code
5. Send from your external wallet
6. Wait for network confirmations (varies: Bitcoin takes 1-6 confirmations, around 10-60 minutes)

Credit/Debit Card Purchase:

1. Go to "Buy Crypto" section
2. Select your currency and payment method
3. Enter the amount - note the exchange rate and fees displayed
4. Complete payment through the third-party provider
5. Funds arrive almost instantly in most cases

P2P Trading:

1. Navigate to P2P section
2. Browse available sellers
3. Select an offer with good ratings and acceptable price
4. Complete payment through the specified method
5. Seller releases crypto after confirming payment

In my testing, P2P offered the best rates for larger amounts, while card purchases were more convenient for smaller, quick deposits.

Step 5: Make Your First Trade

Now for the exciting part. Here is how to execute your first trade:

1. Go to "Trade" and select "Spot" for simple buying/selling
2. Search for your desired trading pair (e.g., BTC/USDT)
3. Familiarize yourself with the interface - price chart on top, order book on the side, order entry at the bottom
4. Choose your order type:

- Market order: Executes immediately at the best available price - best for beginners who want certainty - Limit order: You set the price; order fills when market reaches that price - better for getting specific entry points

1. Enter the amount you want to buy/sell
2. Review the total including fees
3. Click "Buy" or "Sell" and confirm

Pro Tips From My Experience

After spending significant time testing BingX's features, here are my recommendations for new users:

1. Start with the demo account - BingX offers paper trading with virtual funds. I spent two weeks here before risking real money, and it was invaluable for understanding the platform
2. Begin with small amounts - Your first real trades should be modest while you get comfortable
3. Use limit orders whenever possible - You will get better prices and never experience slippage
4. Set stop-losses - Even experienced traders use these; they protect you from catastrophic losses during volatility
5. Never invest more than you can afford to lose - Cryptocurrency is inherently volatile
6. Keep most funds in cold storage - Only keep trading capital on the exchange
7. Learn to read basic charts - Understanding support, resistance, and volume will improve your trading significantly
8. Start with major pairs - BTC/USDT and ETH/USDT have the best liquidity and tightest spreads
9. Document your trades - Keep a trading journal to learn from your successes and mistakes

Security matters when choosing a cryptocurrency exchange, and after thoroughly evaluating BingX's security infrastructure, I can provide a detailed assessment of how they protect user funds and data.

Cold Storage Protection

BingX stores approximately 90% of user assets in cold storage wallets - offline hardware wallets that are physically disconnected from the internet. In my experience reviewing multiple exchanges, this percentage is in line with industry best practices. Cold storage makes funds virtually immune to online hacking attempts, as attackers would need physical access to the hardware.

$10 Million Protection Fund

The exchange maintains a $10 million protection fund designed to cover user losses in the event of a security breach. While this is a positive safety net, I should note that competitors like Bitget maintain significantly larger funds ($300 million). For context, Binance's SAFU fund exceeds $1 billion. The protection fund is meaningful but represents a limitation compared to larger exchanges.

Never Been Hacked

One of BingX's strongest security credentials is their clean track record - the exchange has never suffered a security breach since launching in 2018. In an industry where major hacks make headlines regularly (FTX, Mt. Gox, Bitfinex), this unblemished record is notable. However, past performance does not guarantee future security.

Two-Factor Authentication (2FA)

BingX supports strong 2FA options including:

1. Google Authenticator (recommended)
2. SMS verification
3. Email verification

In my testing, I found the 2FA implementation to be smooth. I strongly recommend enabling Google Authenticator rather than SMS, as SIM-swapping attacks have compromised SMS-based 2FA on other platforms.

Additional Security Features

During my evaluation, I found several other security measures worth noting:

1. Anti-phishing code: Set a unique code that appears in all legitimate BingX emails, helping you identify phishing attempts
2. Withdrawal whitelist: Only pre-approved addresses can receive withdrawals, adding a critical layer of protection
3. Login notifications: Receive alerts for any account access, including IP address and device information
4. Withdrawal delays: New withdrawal addresses require a 24-hour waiting period before funds can be sent

Regulatory Status

BingX is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre), which provides regulatory oversight in Australia. They also have an Exempt Payment Services status in Singapore. However, the exchange does not hold licenses from major regulatory bodies like:

1. U.S. Securities and Exchange Commission (SEC)
2. UK Financial Conduct Authority (FCA)
3. European Union MiCA framework

This regulatory gap is common among offshore exchanges but represents increased risk compared to fully regulated platforms.

My Security Recommendation

Based on my assessment, BingX provides adequate security for active trading but I would not recommend storing large amounts long-term. Here is my approach:

1. Keep only active trading capital on the exchange
2. Enable all available security features immediately after registration
3. Use a unique, strong password not used anywhere else
4. Regularly review login history for suspicious activity
5. Withdraw profits to personal cold storage wallets periodically

Security Comparison With Competitors

To put BingX security in perspective, here is how they compare with other major exchanges:

As you can see, BingX security is solid but the protection fund is notably smaller than major competitors. This is the primary security-related concern I would highlight for potential users.

Insurance and Fund Recovery

The $10 million protection fund is designed to cover user losses in case of a security breach, but you should understand its limitations. Unlike traditional bank accounts with FDIC insurance, this fund is voluntarily maintained by BingX and is not guaranteed by any government body. In a catastrophic breach scenario, the fund might not cover all user losses. This is why I strongly recommend keeping only active trading capital on the platform.

Ongoing Security Practices

BingX maintains several ongoing security practices that I observed during my testing:

1. Regular security audits by third-party firms
2. Bug bounty program rewarding security researchers
3. Real-time monitoring for suspicious activities
4. Automatic lockout after failed login attempts
5. IP-based withdrawal restrictions

These practices, while not unique to BingX, demonstrate a commitment to maintaining security standards.

After spending considerable time testing BingX's trading interface and features, I can provide an in-depth look at what the platform offers for different types of traders.

Spot Trading

The spot trading interface on BingX is clean and intuitive. In my testing, I found the layout well-organized with the price chart prominently displayed, order book visible at a glance, and the order entry panel easily accessible. Key features include:

1. TradingView integration: Full-featured charting with 100+ technical indicators
2. Multiple order types: Market, limit, stop-limit, and OCO (one-cancels-other)
3. Real-time order book: Depth visualization helps understand market liquidity
4. Trade history: Complete record of your executed trades

I particularly appreciated the ability to switch between basic and advanced interfaces. Beginners can start with simplified views while experienced traders access more sophisticated tools.

Perpetual Futures Trading

BingX offers perpetual futures contracts with leverage up to 150x on major pairs like BTC/USDT. After testing the futures platform thoroughly, here is what I found:

1. Leverage options: 1x to 150x (I recommend staying below 20x for risk management)
2. Cross and isolated margin: Choose your risk exposure per position
3. Funding rates: Displayed transparently, typically every 8 hours
4. Liquidation calculator: Built-in tool to understand your liquidation price before entering trades

The futures interface includes advanced order types like trailing stop and take-profit/stop-loss combinations that execute automatically. In my experience, execution was fast with minimal slippage even during volatile periods.

Copy Trading Platform

This is where BingX truly shines. Their copy trading feature is among the most complete I have tested:

1. 15,000+ elite traders: Large selection of verified performers to follow
2. Detailed statistics: ROI, win rate, drawdown, follower count, and trading history
3. Proportional copying: Trades scaled to your allocated capital
4. Risk management: Set stop-loss limits and maximum investment per trader
5. Demo mode: Practice copy trading risk-free before committing funds

I spent two weeks evaluating different traders in demo mode before selecting three to follow with real capital. This trial period was invaluable for understanding how different trading styles translated to my account.

Grid Trading Bot

BingX offers automated grid trading, which I found useful for sideways markets:

1. AI-recommended parameters: The platform suggests grid settings based on market analysis
2. Custom configuration: Set your own price range, grid count, and investment amount
3. Spot and futures grids: Available for both market types
4. Performance tracking: Real-time profit monitoring

In my testing, the grid bot performed reasonably well during ranging conditions but required manual intervention during strong trends - as expected with this strategy.

Trading Tools and Analysis

Beyond basic trading, BingX provides:

1. Market sentiment indicators: Shows long/short ratios
2. Whale tracking: Large order monitoring
3. Economic calendar: Upcoming events that may impact markets
4. Price alerts: Customizable notifications via app and email
5. API access: For algorithmic traders building custom solutions

Mobile Trading Experience

I used the BingX mobile app daily and found it maintains near-parity with the web platform:

1. All trading features accessible
2. Biometric security (Face ID/fingerprint)
3. Push notifications for price alerts and executed trades
4. Optimized interface for smaller screens

The only limitation I noticed was that detailed chart analysis is more comfortable on desktop due to screen size constraints.

User Interface Assessment

Overall, I rate BingX's trading interface as above average. It strikes a good balance between accessibility for beginners and depth for experienced traders. The platform loads quickly, charts are responsive, and order execution is reliable. My main criticism would be that some advanced features require navigation through multiple menus, though this improves as you become familiar with the layout.

Comparing Trading Features With Competitors

After testing multiple platforms, here is how BingX trading features stack up:

BingX excels particularly in copy trading and offers the highest maximum leverage among major competitors. The demo account is a standout feature that Binance notably lacks.

Leverage and Risk Management

While BingX offers up to 150x leverage on major pairs, I want to emphasize that high leverage is extremely risky. In my testing, I primarily used 3-10x leverage for futures positions. Here are my observations:

1. At 20x leverage, a 5% move against your position wipes out your margin
2. At 150x leverage, less than a 1% move triggers liquidation
3. BingX provides a liquidation price calculator that I found very useful for risk management
4. Cross-margin and isolated margin modes are both available

For beginners, I strongly recommend starting with no leverage or maximum 5x until you understand the risks involved.

Earn Products

Beyond active trading, BingX offers several passive income options:

1. Flexible savings: Deposit crypto and earn interest with no lock-up period
2. Fixed savings: Higher rates for locking funds for set periods
3. Launchpad: Access new token launches (requires holding certain amounts)

The earn rates I observed ranged from 1-5% APY for major coins and higher for some altcoins. These rates are competitive but not industry-leading - platforms like Nexo or Celsius historically offered higher yields (though with different risk profiles).

API and Algorithmic Trading

For advanced users, BingX provides:

1. RESTful API for order management and account data
2. WebSocket API for real-time market data
3. Python and other language SDKs
4. Rate limits that accommodate most trading strategies

I tested the API briefly and found documentation adequate, though not as complete as Binance. For serious algorithmic traders, the API should suffice for most strategies but may require more custom implementation work.

The user experience can make or break an exchange, and I spent significant time evaluating every aspect of the BingX platform from a usability perspective.

First Impressions

When I first logged into BingX, the interface felt notably cleaner than many competitor exchanges. There is no overwhelming wall of information - instead, the platform presents a structured dashboard that highlights key features without being cluttered. The design philosophy seems to prioritize accessibility, which I appreciate as someone who has tested dozens of exchanges.

Navigation and Layout

The main navigation is intuitive with clear categories:

1. Trade: Spot, Futures, and Copy Trading
2. Markets: Price listings and market overview
3. Assets: Wallet management and transaction history
4. More: Additional features like Grid Trading and Earn products

I found that I could locate any feature within 2-3 clicks, which is better than average. The only navigation criticism is that some secondary features are buried in dropdown menus.

Onboarding Experience

BingX excels at onboarding new users. After registration, the platform offers:

1. Guided tours of key features
2. Pop-up tooltips explaining interface elements
3. Clear prompts for security setup
4. Links to educational resources

In my experience, a complete newcomer could become comfortable with basic trading within 30-60 minutes of exploration.

Charting and Analysis

The TradingView integration provides professional-grade charting:

1. Over 100 technical indicators
2. Drawing tools for trendlines, Fibonacci retracements, etc.
3. Multiple timeframes from 1 minute to 1 month
4. Customizable chart layouts

I found the charting responsive and complete. Power users can access most analytical tools they need, while beginners are not overwhelmed by unnecessary complexity.

Order Entry Process

Placing trades is simple:

1. Select trading pair
2. Choose order type
3. Enter amount (with helpful percentage buttons)
4. Set leverage if applicable
5. Confirm and execute

The platform provides real-time fee estimates and order total before execution. I appreciated the built-in calculator for position sizing based on risk parameters.

Mobile vs Desktop Comparison

After testing both thoroughly:

The mobile app is surprisingly capable, though I prefer desktop for serious chart analysis and multi-position management.

Performance and Reliability

During my testing period, which included several volatile market events:

1. Platform uptime was essentially 100%
2. Page load times averaged under 2 seconds
3. Order execution was consistently fast
4. No significant bugs or glitches encountered

This reliability matters. Nothing is worse than being unable to access your funds during market crashes.

Language and Localization

BingX supports 12+ languages with localized content. As an English user, I found the translations high-quality with no awkward phrasing that plagues some exchanges.

Areas for Improvement

While overall positive, I noted some areas BingX could improve:

1. Advanced order types could be more prominently featured
2. The earn products section feels underdeveloped compared to competitors
3. Customer support integration could be smoother
4. Dark mode could use refinement in some screens

Overall UX Rating

I would rate BingX's user experience as 8.6/10, above average for the industry. The platform successfully balances simplicity for newcomers with depth for experienced traders. The copy trading interface in particular is exceptionally well-designed, making social trading accessible.

To provide a complete picture of BingX, I researched user reviews across multiple platforms. Here is what real users are saying about their experience with the exchange.

Trustpilot Reviews

BingX holds a 2.1/5 rating on Trustpilot from approximately 850 reviews as of January 2026. This rating is typical for cryptocurrency exchanges, which tend to receive disproportionately negative reviews from users who lost money trading (often due to their own decisions rather than platform issues). Common praise focuses on the copy trading features and user-friendly interface. Negative reviews frequently mention withdrawal delays during high-volume periods and customer support response times. In my analysis, about 40% of negative reviews appear related to trading losses rather than actual platform problems.

App Store Ratings

The BingX iOS app maintains a solid 4.5/5 rating in the Apple App Store with over 15,000 reviews. Users consistently praise the clean interface, smooth copy trading experience, and reliable performance. Common complaints include occasional app crashes during market volatility and requests for additional charting features on mobile.

Google Play Store

On the Google Play Store, BingX holds a 4.3/5 rating from approximately 50,000 reviews. Android users appreciate the comprehensive feature set and regular updates. Some users report occasional sync issues between the app and web platform, though these appear to be resolved in recent updates.

Reddit Sentiment

Across relevant subreddits including r/cryptocurrency, r/CryptoMarkets, and r/BitcoinBeginners, BingX sentiment is generally neutral to positive. The copy trading features receive consistent praise, with users sharing their experiences following various elite traders. Common discussion topics include:

1. Comparisons with Bitget for copy trading
2. Questions about withdrawal processing times
3. Strategies for selecting elite traders to follow
4. Feedback on the demo account functionality

I noticed that experienced traders on Reddit tend to view BingX favorably for its copy trading capabilities, while more skeptical users question the relatively small protection fund compared to larger exchanges.

Overall User Sentiment Summary

The app store ratings are the most reliable indicator here, as they represent users actively using the platform rather than those venting after losses. The strong mobile ratings align with my own positive experience using the BingX app.

After extensively testing BingX alongside its main competitors, I can provide a detailed comparison to help you make an informed decision. BingX competes directly in the copy trading and derivatives space with Bitget, Bybit, OKX, and MEXC.

Complete Exchange Comparison Table

Copy Trading Comparison

BingX and Bitget are the two leaders in copy trading. Here is how they compare:

My Recommendations

Based on my testing:

1. Choose BingX if: You want the best demo trading experience, more traders to copy, and a user-friendly interface optimized for social trading
2. Choose Bitget if: Security reserves are your priority ($300M vs $10M protection fund)
3. Choose Bybit if: You focus on perpetual futures with the lowest maker fees (0.01%)
4. Choose OKX if: You need the largest protection fund ($700M+) and lowest spot fees
5. Choose MEXC if: You want access to the most altcoins (1500+) and zero maker fees

Strengths and Weaknesses Summary

For social traders and beginners who value demo trading, BingX offers a compelling package. The copy trading platform rivals Bitget, and the full demo mode is a standout feature that lets you practice without risk.