BingX review 2026: fees, countries, KYC, security, who it fits

BingX fits active traders who want spot, perpetual futures, copy trading and P2P in one account: spot costs a flat 0.1%, and crypto deposits are free. It is custodial and lost about $43M to a hot wallet hack in 2024. Ownership is unclear, and many countries are restricted. Use it for trading, not for long-term storage.

POOL BTC is an independent comparison site for bitcoin mining pools and the services miners use, including exchanges where they sell coins. We are not BingX, we are not a pool, and nothing here is investment advice. The facts below come from BingX's official pages, support articles and press releases checked on 2026-10-22, plus third-party reports that are named as such in the text.

What is BingX?

BingX is a custodial crypto exchange founded in 2018, according to its About page. It offers spot, perpetual futures, copy trading, grid bots, P2P and a Visa debit card. You trade and keep coins on the exchange, not in your own wallet. BingX describes itself as having more than 40 million users, a self-reported figure.

User numbers have moved fast. A BingX release in May 2024 said 10 million users, and its April 2026 blog says 40 million or more. Both are the company's own claims, so treat them as marketing, not an audit.

Who owns the company is not stated on the official site (checked 2026-10-22), and neither are the founders. The headquarters is also unclear. A BingX release from April 2026 carries a Panama City dateline, BingX EU is based in Vienna, and the security firm CertiK names Singapore and the British Virgin Islands. Panama and Singapore both appear on BingX's own restricted list, which is odd and worth knowing.

The product range per the About page: spot; USDS-M, Coin-M and USDC-M perpetual futures; Standard Futures; EventX; TradFi (perpetuals, CFD and stocks, with stocks via Alpaca); grid and martingale bots; copy trading; P2P in 60+ fiat currencies; the BingX Card, announced on 2026-07-23; and Loan, BXUSD and Dual Investment. We did not find a BingX Wallet or Web3 product on the official pages.

On coin count, BingX contradicts itself. Its Academy posts from January to April 2026 say 900+, 1000+ and 1100+ coins, so we say about a thousand. Ranking by trading volume could not be reliably checked on 2026-10-22, and one third-party tracker dated 2026-10-20 did not show BingX in its top 20.

How much does BingX charge?

Spot trading costs 0.1% for both maker and taker, flat since 2023-10-11. Perpetual futures cost 0.02% maker and 0.05% taker. Crypto deposits are free, and P2P has a 0% fee. Withdrawal fees are dynamic, and the BTC fee is not stated on the official pages (checked 2026-10-22).

Perpetual futures also pay funding every 8 hours, clamped at plus or minus 0.3%. The bingx.com fee page showed no numbers when we fetched it, so the figures above come from support and Academy pages.

VIP tiers exist, but BingX's own tables disagree. A spot VIP page from November 2023 runs from VIP1 at 0.035% maker and 0.060% taker down to Supreme at 0.005% and 0.020%. An Academy table from 2026-05-25 shows a different VIP1 maker rate of 0.04%. There is also a permanent Elite tier from 2026-06-26: spot 0.05% maker and 0.08% taker at 500,000 USDT of 30-day volume, and futures 0.018% and 0.045% at 5M. The perpetual VIP table starts at VIP1 0.014% maker and 0.040% taker, and since 2026-06-26 the taker rate is 0.025% at the top. Read the live table in your account before you count on any of these.

Card purchases are the murkiest line. The support FAQ from 2023-12-11 says 3.5% in the EU and 3.8% elsewhere. An Academy post from 2025-11-18 says 1.5% in the EEA and 3.3% outside it. A page for Argentina, with no date, says 1.8%. Check the quote on the payment screen.

Copy trading: traders on perpetuals pay a weekly profit share of 10% at Bronze, 16% at Silver, 20% at Gold and 32% at Diamond, per a 2025-05-22 page. Standard Futures traders pay 8-13%. Copiers pay no copy fee.

On BTC withdrawals, the official pages give no fee and no minimum. A third-party site from 2026-06-09 says about 0.0005 BTC fee and 0.001 BTC minimum, which we could not verify. If you sell mined coins, those costs matter, so run your own numbers in our mining calculator.

Who is BingX a good fit for, and who should skip it?

BingX fits people who want copy trading, perpetual futures and P2P in one account, and who accept a custodial exchange with unclear ownership. It fits less well if you need a clearly licensed EU service today, live in a restricted country, or want a fully transparent company.

A good fit:

• Active traders who use perpetual futures and care about 0.02% maker rates.
• Beginners curious about copy trading, where copiers pay no copy fee.
• P2P users in markets BingX supports, including RUB, ARS, COP and MXN pairs.

A weaker fit:

• Residents of the countries on BingX's restricted list, covered in the next section.
• People who want published ownership and a known head office.
• Anyone who needs a confirmed BTC withdrawal fee up front. The official pages do not give one.

Which countries can use BingX, and what KYC does it require?

BingX publishes a restricted list that includes the US, UK, Canada, Mainland China, Singapore, Hong Kong and the Netherlands. Russia, Belarus and Kazakhstan are not on it. KYC takes an ID document and a selfie, and it is mandatory for fiat deposits, P2P and card purchases.

The official Disclaimer, last updated 2023-12-11 and worded "including but not limited to", lists: Afghanistan, Burundi, Cambodia, Canada, Central African Republic, Mainland China, Cuba, DR Congo, Hong Kong, Iran, Laos, Macau, Myanmar, Netherlands, North Korea, Panama, Singapore, Somalia, UK, US, and Crimea, Donetsk and Luhansk. A list that old may be out of date, and our own site note says the same about Russia.

Russia, Belarus, Kazakhstan and Ukraine outside the three occupied regions are not on the list. CertiK, a third party, lists all of Ukraine, so the two sources conflict. For Russia, BingX has published RU-specific P2P merchant rules (2025-05-21) and a RUB T+1 waiver (2025-08-21), so ruble P2P exists. In Latin America, the P2P T+1 waiver covers ARS, COP and MXN (2025-04-15), there is an ARS Lite Maker program (2025-09-26), and Brazil has Pix deposits (2024-03-13).

Some products have their own exclusions. CFD (2026-08-04) and stocks (2026-09-07) exclude big EU markets, the UK, US, Canada, Singapore, Hong Kong, Indonesia, the UAE and others. EventX (2026-05-08) also excludes Brazil, Ecuador, Bolivia, Uruguay, South Korea, Vietnam and Thailand.

Verification: ID, passport or licence plus a selfie. The official time is 2-10 minutes (2024-04-09), but the Argentina page says 2-4 business days.

That is the official support table. The withdrawal guide adds a Basic tier, with a 2,000 USDT cumulative deposit and a 20,000 USDT withdrawal limit, so the table and the guide conflict. Whether unverified users can trade is also unclear: the table says no, while third-party reviews say yes.

How safe is BingX?

BingX is custodial, and it was hacked once. On 2024-09-20 attackers drained a hot wallet for about $43M per PeckShield or about $45M per SlowMist. BingX has not reported a later hack that we could find. It lists a Shield Fund above $150M, which it funds itself, and publishes Proof of Reserves.

Official custody wording, from the Why Trust page: cold, warm and hot wallets, multisig on every withdrawal, and the "vast majority" in cold storage. The share is not given officially. A BingX marketing blog from 2026-03-03 says 98%.

Proof of Reserves is where BingX gives two sets of numbers that do not match:

Both sets are BingX's own. The current auditor is not stated. Mazars was named only for the report of 2022-12-01, so we do not present it as current.

The Shield Fund is described as exceeding $150M and self-funded, per the Why Trust page and a release of 2026-07-29. Third-party insurance is not stated. BingX claims PCI DSS 4.0.1 and ISO 27001, but the certifier is not named.

Account tools from the help center: Google Authenticator, email and phone 2FA, passkeys, a fund password, an anti-phishing code, a withdrawal whitelist and account lock (2024-08-02), and a 24 hour withdrawal block after you reset Google Authenticator.

On the hack: withdrawals paused from 2024-09-20, BTC, ETH and USDT deposits were restored by 09-22, 129 coins by 09-29 and 600+ coins by 2024-10-08. A cover-up accusation was made, and BingX denies it. We found no mass-freeze news from reliable outlets. User complaints on Trustpilot and forums are anecdotal, including a bonus dispute of about $90k in January 2024.

How do you start on BingX?

Register, verify your identity, deposit and test a small order. Check that your country is allowed first. You can register through our referral link on BingX. Deposits are free, but the network and minimum for each coin are visible only after login.

1. Check that your country is not on the restricted list and read the Disclaimer.
2. Register through the link above and install the app.
3. Pass KYC with an ID, passport or licence plus a selfie. The official time is 2-10 minutes.
4. Turn on Google Authenticator or a passkey, the fund password, the anti-phishing code and the withdrawal whitelist.
5. Deposit a small amount and place a small test order.

A note for miners who deposit BTC: the deposit address is per coin and per network, and the minimum BTC deposit, the network list and the confirmations are not stated publicly. The official guide, updated 2025-10-10, says BTC can credit more slowly than USDT during congestion. Send a small test amount first.

Support runs through 24/7 live chat plus support@bingx.com. A notice of 2026-09-18 said the old chat would stop on 2026-10-08 for app versions below 4.82.0, leaving email only, and we could not verify whether chat works now. BingX said in 2024 that it supports 18 languages, which may be outdated.

What are the risks of using BingX?

The main risks are custodial, regulatory and about transparency. The company was hacked in 2024, its owner and head office are not stated, and licence claims are mostly self-published. Your country may also be restricted. Do not keep savings on any exchange.

• Custody. If the exchange fails, you hold a claim, not coins. The 2024 hot wallet hack shows it can happen.
• Unclear owner. The official site does not name the legal owner or founders, and headquarters sources conflict.
• Licences. BingX EU announced a MiCAR licence from Austria's FMA for the entity MEGE zweite GmbH, covering 29 EEA countries, in a release of 2026-10-14. The release was issued by BingX, and we did not check the regulator's register. The application was filed on 2026-06-16, per the help center. Australia is described as AUSTRAC-registered on a BingX page, with no date. US FinCEN and Canada FINTRAC claims from a 2022 release are unverified, and both countries are on the restricted list. Spain's CNMV issued a warning on 2023-02-20, per a secondary source. A third party says there is no Thai SEC licence (2026-06-26). We found no fines.
• Inconsistent numbers. Fee tiers, KYC limits, card fees and reserve ratios differ between BingX's own pages.
• Derivatives. Perpetual futures can wipe out a deposit quickly. Copy trading does not remove that risk.
• Support. The status of live chat is unverified.

How does BingX compare with Bybit, OKX, Bitget and MEXC?

On base fees the five exchanges are close. BingX, Bybit, OKX and Bitget all charge 0.10% spot taker, and perpetual taker runs from 0.05% to 0.06%. MEXC lists spot at 0.05%, but its own sources conflict. The real differences are access, reserves and the products on offer.

Sources and dates: BingX page of 2025-09-17, Bybit help center of 2026-09-02, an OKX notice from September 2026, Bitget support of 2026-08-19 and a MEXC article of 2026-10-20. The MEXC article conflicts with a MEXC announcement of 2025-12-30 that promised zero spot fees, so confirm the live rate.

For full reviews see our articles on Bybit, OKX, Bitget, MEXC and Binance. Our exchange guide explains how to pick one.

FAQ

What are BingX's spot fees in 2026?

Spot is a flat 0.1% maker and 0.1% taker since 2023-10-11. VIP tiers lower it, but BingX's own VIP tables disagree, so read the live table in your account.

Can I use BingX from Russia?

Russia is not on BingX's restricted list, which was last updated on 2023-12-11. BingX has published Russia-specific P2P merchant rules and a RUB T+1 waiver in 2025, so ruble P2P exists. Check the current terms before you register.

How long does BingX KYC take?

The official figure is 2-10 minutes (2024-04-09). The Argentina page says 2-4 business days. You need an ID, passport or licence plus a selfie.

Was BingX hacked?

Yes. On 2024-09-20 a hot wallet was drained for about $43M per PeckShield or about $45M per SlowMist. Withdrawals paused, and deposits for 600+ coins were back by 2024-10-08. We found no later hack.

Does BingX have proof of reserves?

Yes, but BingX shows two different sets. The release for the 2026-07-15 report gives BTC at 142.82%, and the Why Trust page gives 142.74%. The current auditor is not stated.

What does BingX charge to withdraw BTC?

Not stated on the official site (checked 2026-10-22). One third-party site from 2026-06-09 says about 0.0005 BTC, unverified. The withdrawal page should show the fee before you confirm.

Is BingX worth it in 2026?

For active traders in allowed countries, BingX is a reasonable venue on fees: a flat 0.1% spot and 0.02% maker on perpetuals. The costs are custody risk, a $43M hack in 2024, unclear ownership and inconsistent published numbers. Check your country and test with small sums first.

If it fits, open an account through our referral link on BingX, verify, and test a small deposit and withdrawal before moving larger sums.

This article contains a referral link: we may receive a reward if you register through it. It does not change the figures or conclusions.