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BingX

Conditional orders
Dedicated app
International Exchange
Spot market
+9More
Teagle Score

Teagle user score

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5

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BingX logo
Founded2018
Head officeSingapore
Exchange typeCentralized
Trading fees0.1٪
Number of cryptocurrencies1000+
Minimum deposit10 dollars
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Introducing the BingX Exchange

BingX is a global trading ecosystem that began operating in 2018 and today, with more than 40 million users, ranks among the top 5 derivatives exchanges. By combining Web3, artificial intelligence and simultaneous access to spot trading, futures and TradFi markets, the platform is recognized as a pioneer in copy trading and provides an integrated infrastructure for professional traders. 

The important point is that, following the latest changes in Azar 1403 and with identity verification (KYC) becoming mandatory, despite its great popularity, this exchange has stopped providing services to users residing in Iran.

Teagle risk warning for BingX

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Risk-spotting guide

Warnings

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BingX Exchange Credibility and Security Review: Is BingX Legit?

In terms of global credibility, BingX is an established and trustworthy crypto exchange ; a platform that since 2018 has built a solid position in the crypto industry by attracting more than 40 million users, ranking among the top 5 derivatives exchanges and partnering with major brands such as Chelsea and Ferrari. Its security infrastructure includes transparent proof of reserves with coverage above 100%, a $150 million protection fund, the PCI DSS and ISO/IEC 27001 security standards, and the use of cold wallets and two-factor authentication. However, since Azar 1403, after KYC became mandatory, the exchange has stopped providing services to users residing in Iran, and using it with Iranian documents carries the risk of having your assets frozen.
 

Does BingX have a history of hacks or fraud?

BingX is a large, well-known platform in the global crypto market, but like many centralized exchanges, it has both a security track record and has faced criticism from some users. Its most significant security incident was a hack of around $50 million in the past two years; after this serious attack, the exchange announced that it had taken action to recover the assets and compensate for the losses.
 

Nevertheless, regarding «fraud», there are no official, verified reports, and most claims stem from individual user experiences, such as frozen accounts or stop losses not being executed properly, which the exchange attributes to its risk control policies and anti-money laundering rules. 

On the other hand, BingX has tried to increase transparency and trust on its platform through measures such as a $150 million protection fund, proof of reserves above 100% and international security standards. 

 

 

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Review of Cryptocurrencies on BingX Exchange

BingX, which began operating in 2018, is today recognized as one of the leading Web3 and AI platforms, with more than 40 million users worldwide. Thanks to its broad ecosystem, including a spot market with over 800 assets and a futures market with over 300 symbols, the exchange ranks among the top 5 derivatives exchanges.

By offering 1,100 trading pairs, tools such as copy trading, smart trading bots and access to TradFi markets (forex, indices and commodities), BingX has created an integrated and diverse asset portfolio for both beginner and professional traders. This variety, together with high liquidity and international security standards, has cemented the exchange's position among reputable global platforms.

Newest coins
  • CIEN
  • UVXY
  • CRWD
  • HYUNDAI
  • GRAMUSDT
  • DATAUSDT
  • ALAB
  • KLAC
  • NAORIS
  • ERN
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Managing Fees on BingX Exchange

Cost management on the BingX exchange is built on a multi-layered structure that includes tiered (VIP) fees, separate cost breakdowns across different markets, and automated profit and loss calculation tools. The aim of this structure is to lower trading costs for active users and provide transparency across all financial processes.

Under this model, users move up to higher VIP levels as their trading volume grows and gradually pay lower fees. At the same time, the exchange's internal systems automatically calculate the average purchase price, profit and loss (PnL), and the final costs of trades, so users can make more precise capital management decisions.

In addition, tools such as insurance funds, fee discount coupons and transparent asset reports help users reduce hidden costs and gain better control over financial risk.


Deposit and Withdrawal Conditions at BingX

Deposit and withdrawal conditions on the BingX exchange depend on the asset type, the blockchain network and the security level of the user's account.

Crypto deposits on this exchange are free, but each coin has a minimum deposit amount, and if less than this amount is sent, the funds cannot be recovered. Users can also fund their accounts through various methods such as Visa, Mastercard, Apple Pay, Google Pay, fiat deposits (such as SEPA, SWIFT and PIX), as well as P2P trading. However, the available payment methods and fiat currencies may vary depending on the country of residence and local regulations.

For withdrawals, the user must pay the network fee plus a fixed charge based on the coin and blockchain network. Withdrawals are made either by on-chain transfer to an external wallet or by internal transfer between exchange users; internal transfers have zero fees and settle instantly.

The daily withdrawal limit is also set based on the identity verification (KYC) level, and at higher levels the limits increase significantly. In certain security situations, such as changes to sensitive account settings, withdrawals may be temporarily blocked for 24 hours or longer.
 

BingX Exchange Fees

The fee structure on the BingX exchange is defined by market type and user level, and decreases in tiers.

In the spot market, the base fee is around 0.1% for orders (Maker and Taker), and by upgrading to VIP levels this rate can drop to around 0.005%. In the futures market, fees are defined separately, typically 0.02% for Maker and 0.05% for Taker.

Alongside trading fees, crypto deposits are free, but withdrawals carry a fixed fee based on the blockchain network. For example, the cost of withdrawing Tether varies across networks such as TRC20 or ERC20 and is usually calculated as a fixed rate.

Internal transfers of assets between users within the exchange are completely free, which is one of the platform's structural advantages in reducing the cost of moving capital.

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Main Services of the Foreign Exchange BingX

  • Buy Crypto (Quick Buy & P2P):
    You can quickly buy crypto with international bank cards or through the peer-to-peer (P2P) market. This section is designed for users who want to enter the market without complications.
  • Spot Trading:
    Cryptocurrencies are bought and sold directly at the current price, with real ownership of the asset. This market suits simple trades and medium- and long-term investment.
  • Futures Trading:
    You can trade on price predictions using leverage. This section lets users profit from both rising and falling markets.
  • Copy Trading:
    Users can automatically copy the trades of professional traders to their own account. This feature is useful for beginners or those who don't have time to analyze the market.
  • Trading Bots (Grid Bots):
    These are automated trading tools that algorithmically buy low and sell high as the market fluctuates.
  • Traditional Financial Markets and Forex (TradFi):
    You can trade assets such as forex currency pairs, gold, oil and indices using your crypto balance.
  • Wealth Management and Earning (Wealth / Earn):
    Users can place their assets in investment plans, lending or yield-generating products and receive periodic returns.
  • Demo Trading:
    A risk-free environment for practicing trading with virtual assets is available, so users can test their strategies.
  • Signal Trading:
    You can connect to external tools such as TradingView to execute trades automatically based on analytical signals.
  • Rewards and Bonus Center (Rewards Hub):
    A section for receiving rewards, trading fee discount coupons and trading bonuses in return for activity or participation in the exchange's campaigns.
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Download the BingX App

Downloading the BingX app is a practical choice for anyone who wants a faster, more precise and more integrated trading experience. The app is available for both Android and iOS and can be downloaded from Google Play, the App Store or as a direct APK file. It brings all of the exchange's main features together in a single environment. Persian language support on the website, an advanced security section with 2FA and the option of demo trading make using the app a smooth and reliable experience for both beginners and professionals.
 

A review of the BingX exchange app's user experience

The user experience of the BingX app combines strong technical performance with a set of serious challenges in transparency and support. On the one hand, users on Google Play have rated it 4.6 out of 5, praising its speed, smooth design, integrated TradingView charts, variety of markets and features such as copy trading and demo trading; for many traders, this experience has made the app a complete, professional tool.

On the other hand, a score of 1.6 out of 5 on Trustpilot shows that a significant share of users have faced problems such as account freezes, poor support responsiveness, price discrepancies with the global market and risks in the P2P section. This contrast shows that while the app is technically one of the best, when problems arise, the quality of support and financial transparency can heavily affect the user experience.

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Expert Review: Is BingX Exchange a Good Choice?

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BingX Exchange Headquarters Details

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Frequently Asked Questions About BingX Exchange

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