BingX launched in 2018 and has grown into a derivatives-focused exchange known for copy trading and a large altcoin list. CoinGecko ranks it tenth by Trust Score (9/10) on 8 November 2026, with 601 coins and 623 spot pairs, and lists its place of incorporation as the British Virgin Islands. Our verdict: BingX is cheap and feature-rich for futures traders, but the global platform is not covered by a top-tier licence, it suffered a hot-wallet hack in 2024, and it is closed to residents of several major markets.
BingX at a glance
| Item | Details |
|---|---|
| Founded | 2018 |
| Incorporation | British Virgin Islands (CoinGecko) |
| Licences | MiCA CASP for BingX EU (Austria FMA, Oct 2026); AUSTRAC registration listed by CoinGecko |
| Coins / pairs | 601 coins, 623 spot pairs (CoinGecko) |
| Spot fees | 0.10% maker / 0.10% taker |
| Perpetual futures fees | 0.02% maker / 0.05% taker |
| Max leverage | Up to 150x on BTC/USDT (varies by pair) |
| Proof of reserves | Monthly Merkle tree; Mazars and Hacken reports |
Regulation and safety
BingX’s regulatory picture is mixed, and you should be clear about it before depositing. The main bingx.com platform that most of the world uses is not licensed by a top-tier regulator. BingX’s own disclaimer does not name an operating company or a licence for the global service. CoinGecko lists an Australian AUSTRAC registration as a digital currency exchange, but that is an anti-money-laundering registration with basic requirements, not a licence with capital and client-asset rules. We could not check it on the AUSTRAC register in this session.
The biggest recent change is in Europe. On 14 October 2026 BingX announced that BingX EU (MEGE zweite GmbH) in Vienna had been authorised as a crypto-asset service provider under MiCA by Austria’s Financial Market Authority (FMA). ESMA-derived register listings date the authorisation to 13 October 2026, with passporting to 29 EEA states. At the time of writing BingX said it was still preparing to launch these regulated services. Until it does, European users should confirm which entity their account actually sits with, because MiCA protections apply only to the licensed EU company.
On security, BingX detected unusual access to a hot wallet on 20 September 2024. Blockchain security firm PeckShield estimated the loss at about $43 million. BingX described the losses as manageable, said most funds were in cold wallets, and committed to compensating affected users. Since then BingX’s proof-of-reserves page has said it publishes a Merkle tree monthly so logged-in users can verify their BTC, ETH and USDT balances, and it links to audit reports from Mazars and Hacken. When we checked, the page showed no reserve-ratio figures without logging in.
CoinGecko recorded no incidents within the last 12 months of its Trust Score window, and the CORE3 cybersecurity badge on BingX’s CoinGecko page appears to be two stars.
Trading fees
BingX’s fee guide (last updated January 2026) gives these standard rates as of November 2026:
| Market | Maker | Taker |
|---|---|---|
| Spot | 0.10% | 0.10% |
| USDT-M perpetual futures | 0.02% | 0.05% |
| Deposits | Free | Free |
| Withdrawals | Varies by coin/network | Varies by coin/network |
The spot rate is in line with most offshore exchanges. The futures rate is competitive: a 0.05% taker fee on perpetuals is lower than many rivals charge to new users. BingX notes that some pairs may carry different fees. Perpetuals also involve funding payments every few hours, which can cost more than trading fees if you hold positions for days.
Products
BingX offers spot trading, USDT-, USDC- and coin-margined perpetual futures, standard futures, copy trading, grid and other trading bots, and wealth products. Its help centre also lists TradFi contracts on stocks, forex, metals and commodities. A 2021 help article says BTC/USDT perpetuals support up to 150x leverage, with the maximum depending on the pair; check the contract specifications for current limits. At 150x a price move of well under 1% against you can liquidate the position, so high leverage suits very few retail traders.
Copy trading is one of BingX’s main selling points: you allocate funds to follow another trader’s positions. Remember that past performance on a leaderboard does not predict future returns, and copied futures positions carry the same liquidation risk.
Deposits and withdrawals
CoinGecko lists more than 50 fiat currencies on BingX, including USD, EUR, GBP, AUD, BRL, TRY, INR and NGN. These go through P2P trading, debit and credit cards, and third-party payment providers rather than direct bank accounts held by BingX. P2P trades carry counterparty risk, so use the platform’s escrow and never release coins before payment has cleared. Crypto deposits are free; withdrawal fees and minimums are shown in the withdrawal window.
Restricted countries
BingX’s disclaimer (updated December 2023) says it does not serve, among others, the United States and its territories, the United Kingdom, Canada, the Netherlands, Singapore, Hong Kong, Macau, mainland China, Panama, Cambodia, Laos, Iran, North Korea, Cuba, Myanmar, Afghanistan, Somalia, Burundi, the Central African Republic, the DR Congo, and Crimea, Donetsk and Luhansk. The list is “including but not limited to”, so other places may be excluded too. Using a VPN to get around these restrictions breaks the terms and can lead to frozen funds. Identity checks are compulsory for real use: BingX’s help centre says unverified accounts cannot deposit, trade or use fiat and can only withdraw up to 20,000 USDT per 24 hours, while Advanced KYC unlocks full trading and a 5,000,000 USDT daily withdrawal cap. BingX is usually described as Singapore-based, even though Singapore residents are on its excluded list.
Who it suits and who should avoid it
- Suits: experienced derivatives traders in permitted countries who want low futures fees, copy trading and a large altcoin list.
- Avoid if: you need a top-tier regulated custodian, you live in a restricted country, or you are tempted by high leverage without a risk plan.
Final verdict
BingX scores well on cost and features: standard futures fees of 0.02%/0.05%, more than 600 coins, monthly Merkle-tree reserves and an active copy-trading community. Its weak points are regulatory and operational. The global platform has no top-tier licence, it suffered a roughly $43 million hot-wallet breach in 2024, and it excludes several major markets. The new Austrian MiCA authorisation is a meaningful step for European users once the EU service goes live. Until then, treat BingX as an offshore exchange: keep only trading balances on it and use leverage cautiously, if at all.
Compare BingX with the other top crypto exchanges, or read our Crypto.com Exchange review and Bitunix review.
FAQ
Is BingX regulated?
Only partly. Its EU arm, BingX EU (MEGE zweite GmbH), received a MiCA authorisation from Austria’s FMA in October 2026 but was still preparing to launch. The main bingx.com platform holds no top-tier licence, and the Australian AUSTRAC entry CoinGecko lists is an anti-money-laundering registration, not a trading licence.
What are BingX trading fees?
As of November 2026 BingX quotes standard spot fees of 0.10% maker and 0.10% taker, and perpetual futures fees of 0.02% maker and 0.05% taker. Deposits are free; withdrawal fees depend on the coin and network.
Which countries cannot use BingX?
BingX’s disclaimer excludes the United States, United Kingdom, Canada, Netherlands, Singapore, Hong Kong, Macau, mainland China and sanctioned or high-risk countries such as Iran and North Korea. The list can change and may differ by product.
Was BingX hacked?
Yes. On 20 September 2024 BingX detected unusual access to a hot wallet; security firm PeckShield estimated losses at about $43 million. BingX said most assets were in cold storage and promised to compensate affected users.
Does BingX have proof of reserves?
Yes. BingX says it publishes a Merkle tree every month so logged-in users can verify their BTC, ETH and USDT balances, and it links audit reports from Mazars and Hacken.
Facts compiled on 8 November 2026 from the official website, regulator registers and independent reviews listed in the sources. Fees and conditions change; confirm on the official site before opening an account.