BingX Exchange Review

24h volume
Min deposit:
Spot: Taker=0.1%, Maker=0.1, Futures: Taker=0.05, Maker=0.02
About the company
Josh Lu

● Optional verification.

● Low commissions. There are no commissions on the spot market (until further notice from the exchange).

● Large selection of assets for trading.

● p2p market.

● Fiat deposits are possible.

● Copy trading.

● Automatic grid strategies.

● The ability to quickly convert assets.

● Bonuses for new clients.

● An audit has been completed to confirm reserves.


● Doesn't work properly in some browsers.

● Technical support is aimed at Asian users.

● There is no leverage for spot trading.

● There are no opportunities for passive income (staking, etc.);

● There is no token sale platform.

● No options.

● No exchange token.

● You can only buy and sell on p2p USDT.

● Although there was an NFT crowdfunding event in 2022, NFTs cannot be traded or created at this time.

BingX is a cryptocurrency exchange for trading on the spot and futures market. Launched in 2018, it was known as Bingbon, and in the fall of 2021 it underwent a rebranding. This platform is focused on copy trading functionality (allows you to subscribe to other traders and automatically copy their transactions on your account).

BingX is a cryptocurrency exchange for trading on the spot and futures market. Launched in 2018, it was known as Bingbon, and in the fall of 2021 it underwent a rebranding. This platform is focused on copy trading functionality (allows you to subscribe to other traders and automatically copy their transactions on your account).

BingX is a crypto social trading network that provides access to both the spot and derivatives markets.

Key Findings:

  • BingX is a cryptocurrency exchange launched in 2018 that supports over 580 cryptocurrencies and tokens.

  • BingX is focused on providing copy trading services and grid trading.

  • BingX offers users a demo account, bonuses and rewards for newbies, a referral program, fast conversion and tools for passive income.

  • Replenishment with fiat money, including rubles, is available through the p2p market.

  • Commission fees on spot and futures are at the market average - up to 0.1% spot, up to 0.05% futures.

  • BingX allows you to trade cryptocurrency without verification.

  • The daily withdrawal limit for anonymous users is 50,000 USDT.


BingX functionality includes:

✅ Spot trading of 400+ cryptocurrencies.

✅ Perpetual contracts, futures.

✅ Instant conversion.

✅ Copy trading.

✅ Grid trading for spot and futures.

✅ P2P marketplace.

✅ Replenishment from cards and payment systems.

✅ Rewards for new users.

✅ Demo account.

✅ Referral program.

✅ Academy with educational materials.

Identity verification is not required. Reserves are confirmed (Proof-of-Reserves) by Mazars audit.

Prohibited Jurisdictions

At the beginning of 2024, BingX does not provide services to residents of the following countries:

Afghanistan, Burundi, Tunisia, Trinidad and Tobago, Uganda, Venezuela, Yemen, Central African Republic, Congo, Mainland China, Hong Kong, Macau, Sudan, Somalia, South Sudan, Ethiopia, Guinea, Guinea-Bissau, Iraq, Iran, Lebanon, Libya , Syrian Arab Republic, Zimbabwe, Cuba.

Registration and verification

The BingX crypto exchange can be used via the web version or mobile application. In the second case, you need to download the BingX application from the App Store or Google Play.

The registration process for BingX is roughly the same in both cases: you can register using an email address or phone number. When a confirmation code is sent to your phone number or email, enter it.

We recommend using the web version via Google Chrome. In other browsers it is buggy, for example, it is impossible to register, the system does not respond to entering the code from email.

It is also possible to log in using your Google account.

When signing up for Bingx from someone else's invitation, be sure to enter the referral code at this stage. Once you create an account, this will no longer be possible.

As for identity verification on BingX, it is not necessary to go through it.

✅ An unverified account can withdraw up to 50,000 USDT per day.

✅ Verified account – up to 5,000,000 USDT.

Also, certain functions on BingX may be available only after verification, for example, users who have passed verification can become a p2p merchant.

The standard identity verification process includes providing passport data, a photo of a passport (or other identification), and a selfie.

Information requested for identity verification may include full name, contact information, government ID information, date of birth, etc. By providing the required information, you represent that it is true and accurate. The information is used by BingX solely to detect fraud, money laundering and other criminal activities.

Before making a deposit and starting trading, it is advisable to set up account security (profile menu → “Account and security”). The most important thing is to activate Google authentication and set a payment password.

You can also change your nickname (alias) in your account settings, but not more than once every 180 days. The nickname is used, for example, on the p2p platform.

Bonuses for new users

Bonuses are provided for new clients of the platform, which can only be received within a few days after registration.

BingX bonuses include:

✅ Mystery box for new users with a prize of up to 200 USDT.

✅ Up to 5,000 USDT for top-ups of certain amounts.

✅ 10 USDT subsidy for new clients, covering commissions.

✅ Gifts from 2 to 100 USDT for deposits and trading of certain amounts

Thus, in total you can win more than 5,000 USDT, but only if you fulfill absolutely all the conditions. Of course, we mean test funds that cannot be withdrawn, but can only be used for trading or paying off commissions.

Deposit on the exchange

On BingX you can top up your account using fiat money through the p2p market, but we will discuss this method in the corresponding section. In the meantime, let’s try to deposit cryptocurrency into the account by transfer from another crypto exchange; this will work similarly for any external wallet (for example, Trust Wallet, Metamask, etc.).

Go to the “Top up account” section.

Select the desired cryptocurrency and network from the drop-down lists. After this, the wallet address for replenishment will be displayed.

Also pay attention below to the minimum deposit and estimated replenishment time. The unlocking time means that you can withdraw these assets back only after the specified number of network confirmations.

We copy the provided address and go to the exchange or wallet from where we will make a deposit. In our case, this is the Bybit exchange.

Open the “Withdraw” section on Baybit. Select the currency, network (it must match the network selected on BingX). Enter the amount and select which exchange wallet the transfer will be from.

We confirm the operation.

We will soon see the funds received in the “My Assets” section on BingX. The speed of receipt depends on the load on a particular blockchain network.

Please note that there are several separate types of accounts on the exchange - fund account, standard futures, perpetual futures, copy trading, etc. At any time, you can transfer assets between them instantly and without commission by clicking the “Transfer” button.

Immediately after registration, your account will receive a gift - 100,000 VST, this is a special exchange token that can be used for virtual trading (demo account). It is impossible to withdraw it or profit from such trading. More details in the “Demo trading” section.



In the "Spot" section, you can trade using market and limit orders, as well as orders with additional conditions.

To begin, select a trading pair from those presented on BingX (there are more than 500 of them).

The order creation section is on the right. By default, the “Market” order type is selected, which allows you to execute a transaction quickly at the current market price. Just enter the order amount and click “Buy” or “Sell”.

As for the “Limit” order, it allows you to specify the price of the asset in addition to the quantity. In this case, the order will go into the order book a little to the left and will wait there until a counter offer appears at the appropriate price.

Orders awaiting execution are listed in the “Open Orders” list. You can cancel an order that has not yet been executed at any time.

The exchange also offers the opportunity to open a “Trigger Order”. The user specifies a trigger price, defining in advance the conditions for buying and selling. When the trigger is reached, the system will automatically execute the request.

For each transaction on the spot market, the system charges a commission of 0.1%.


Conversion on BingX (section “Spot” → “Conversion”) is similar to the spot market, but with a simpler interface, suitable for beginners or for those who need to make a transaction as quickly as possible.

It is enough to indicate the currency being given and received, the amount, and then click “Convert” and confirm the action.

Permanent contracts

To start trading contracts, be sure to transfer your assets to the appropriate account.

Perpetual contracts are derivatives, that is, derivative instruments based on cryptocurrencies. Like cryptocurrencies themselves, they can be bought and sold, but settlements are carried out differently - not instantly, but after a certain period of time.

On BingX, perpetual futures have important features that are missing on spot:

✅ You can try trading in demo mode without risking real money.

✅ You can use leverage up to 125x.

The latter implies that it is possible to take a margin loan from the exchange and open positions 125 times larger in volume than you actually have funds (margin).

This is a riskier trading method. If successful, it will bring multiple profits, but if unsuccessful, it will bring significant losses. Beginners are not recommended to choose a leverage of more than 5x.

There is an option to select cross margin or isolated margin:

✅ In cross-margin mode, the available cryptocurrency balance can be used by any position to avoid liquidation. If liquidation occurs, the user loses all available balance.

✅ In isolated margin mode, a certain amount of margin (initial margin) is assigned to the position. If a forced liquidation occurs, the amount of loss is limited only by the margin on the specific position.

In any case, you need to take into account that the leverage adjustment is reflected in all positions of the selected trading pair.

When trading perpetual contracts on BingX, Spot, Limit, and Trigger orders are also available. In addition, a “Trailing Stop” order is also available. This is a floating order - you can specify the deviation percentage instead of a specific price.

On BingX, you can trade contracts with margin in USDT as well as other coins. Remember: markets are highly volatile and market liquidity, depth and dynamics often change very quickly. The use of margin leverage can bring both benefit and harm, provoke both significant losses and significant profits.

Standard futures

This method of trading futures on BingX is considered simpler and optimal for beginners. It is noteworthy that here you can trade not only cryptocurrencies, but also indices and commodities (for example, gold or cotton), just like on the stock exchange.

The order creation here is simpler, one might say intuitively:

✅ Select a trading pair.

✅ Enter the initial transaction amount (margin).

✅ We set leverage.

✅ If necessary, we include take profit and stop loss to limit profits and losses.

✅ Click “Long” or “Short” to sell or buy.

Attention. When you first open a futures contract, you will need to study the information and pass a short test. We will not provide answers to the BingX test. You should definitely know this information before you start trading.

The questions are not difficult, this is a basic level, and many can be solved logically.

Grid trading

Let’s move on to the reason why BingX is rapidly gaining popularity – ample opportunities for automating trading, including arbitrage.

There are three types of automated strategies available on the site:

✅ Futures grid – for trading derivative contracts with leverage.

✅ Spot grid is a classic strategy.

✅ Infinity spot grid is an advanced spot grid, ideal for crypto arbitrage.

The essence of the grid strategy is to make money on highly volatile markets.

The user needs to set a price range, and the bot will divide it into several parts. When the currency rate drops, the bot purchases assets worth one part of the funds and places a sell order at a price higher than the buy price by one grid division. Conversely, if the price rises, the bot sells until the upper limit is reached.

This way, the robot buys low and sells high at every price fluctuation, and you receive passive profit.

Copy trading


Copy trading is copying the transactions of successful experienced traders in an automatic mode, thanks to which you can make the same profit as them without actually doing anything.

The BingX exchange allows you to copy trades on both the spot and futures markets. The product page features the best performing traders of recent times, which you can follow by clicking the "Copy" button.

Starting from the moment of subscription, transactions will be created on your account that are made by the lead trader. The amounts do not have to be the same; you can set a percentage of the size of the master’s orders, and accordingly, the profit will be reduced to that percentage.

If you are an experienced trader yourself and want to earn additional income from this, you can apply and become a lead trader, earning up to 20% of the profits of your subscribers’ transactions (but not more than 1000 USDT per month).

Signal trading

You can configure BingX to receive signals from TradingView and other external platforms, automatically creating perpetual contract trades based on them. Thus, it is possible to create flexible trading strategies by connecting commands and waiting for their automatic execution.

Parameters to be specified:

  • Name of the instructions.

  • Trading pair that will be tracked.

  • Transaction direction – long or short.

  • Order type – only market available.

  • Position margin amount.

  • TP/SL orders.

Then set up signals to open a position on TradingView. Enter the Webhook URL, you can find it on the BingX signal trading page. Insert your instructions for opening positions, click “Create”. Follow similar steps to close positions. The bot is ready.

Always ensure that you have sufficient funds in your account for perpetual contracts, otherwise orders will not be created. Also remember that this does not provide a guaranteed income, losses and delays are possible.


You can top up BingX or withdraw cryptocurrency from the exchange into fiat money through the built-in p2p market. At the time of writing, only one asset is available for purchase/sale — USDT.

For example, to replenish the following actions are performed:

✅ Complete verification (KYC).

✅ Go to the “Buy crypto” section -> “P2P”.

✅ Select the currency in which you plan to make payments. Most offers are for USD.

✅ For a suitable offer, click the “Buy USDT” button.

✅ Enter the amount and click “Buy USDT with 0 commission”.

✅ Pay for the purchase by transfer to the seller’s card or wallet.

The cryptocurrency will be credited to your account as soon as the seller confirms payment.

Selling works in the same way, only this time you must provide your details, and you must have cryptocurrency in your exchange account.

In order to become a merchant and create your own advertisements to which other people will respond, you need to leave a corresponding application.At the same time, BingX does not currently require collateral to be held in the account, as is the case on other exchanges. True, this is a temporary promotion.

Withdrawing funds from your account


You can withdraw money from BingX via p2p as described above to get fiat.

Or send in cryptocurrency to any wallet/exchange. This is done as follows:

✅ Go to the “Withdraw” section.

✅ Select cryptocurrency and network. Enter the target wallet or exchange address and the sending amount.

✅ Click “Withdraw”. At the first output, a notification will be shown where you need to read the information and check the boxes.

✅ Confirm the operation, making sure to double-check the address and network.

✅ To confirm, enter the 2FA code, payment password, code from email or SMS.

Funds were successfully withdrawn.

Demo trading

The BingX demo account is only available for futures. To activate it, click the “Demo trading” button in the trading terminal.

VST (Virtual USDT) is a token issued by BingX specifically for demo trading. VST has no real value, it cannot be withdrawn from the account, just like the profit earned with its help.

Immediately after registration, 100,000 VST appears on your balance. With their help, you can create any transactions in demo mode and even use the copy trading function.

If there is less than 20,000 VST left in your account, you can request more; the corresponding button is in the balance section.



BingX Exchange Fees:

✅ Trading commissions for transactions with standard futures: 0.045% for each transaction. It’s the same with copy trading.

✅ Trading commissions for operations with perpetual futures: taker 0.05%, maker 0.02%.

✅ Spot trading commission: 0.1% (base). At the time of writing, spot commissions are temporarily zero; This also applies to the grid bot.

✅ Conversion fee: 0.2%.

✅ There is no deposit fee.

✅ The fee for withdrawing cryptocurrency varies depending on the blockchain and its load.

✅ There are no commissions on the p2p market.

You can reduce fees for trading perpetual futures by reaching VIP levels:

User reviews


Reviews about BingX are mostly positive. The advantages include a convenient trading interface, the presence of a demo account, convenient copy trading capabilities and grid strategies. This is due, in particular, to a strong founding team, which includes people with experience in Alibaba, Huawei, J.P. Morgan, Standard Chartered Bank, Google, etc.

The downside is poor technical support, which is not at all focused on users from outside the Asian region. Support either responds in Chinese/Taiwanese or in the user's language, but with low-quality machine translation from which nothing can be understood.

Presumably, with the development and growing popularity of the site, this problem will be solved.



BingX – whose exchange and who runs it?
The exchange is registered as a Lithuanian company and has licenses in other countries.

Can I download BingX to my phone?
Yes, there are applications for Android and iOS.

How to register on BingX?
By phone or email.

Is verification required on BingX?
Not mandatory, required to work with fiat and to increase daily withdrawal limits.

How to top up your BingX account?
Using cryptocurrency or through an integrated p2p marketplace.

What cryptocurrencies are supported for buying/selling via p2p?
For now only USDT.

What are the commissions on BingX futures and spot?
Perpetual contracts trade at 0.05% taker fees and 0.02% maker fees. Standard futures – 0.045% per trade. Spot – 0.1%.

What are the fees on BingX P2P?

Is copy trading possible on BingX via API?
Yes - there is a Copy Trading Pro feature that allows traders from other trading platforms (such as Binance) to transfer their strategies to this exchange.

What bonuses are there on BingX?
For trading and deposit – a total of over 5000 USDT.

Does BingX have a demo account?
Yes. For test trading, special VST tokens are used.

Is there an affiliate program?
Yes, it allows you to receive up to 60% of the commissions of invited traders.


The BingX exchange has been widely heard since the fall of 2022 – the platform regularly introduced new features and benefits for customers. In December 2022, the company underwent a Mazars audit and confirmed its reserves. At the end of the year, it increased its client base by 350%, mainly due to effective social trading tools. The site interface has been translated into 16 languages. Unfortunately, the same cannot be said about technical support (machine translation). The commissions on the crypto exchange are quite acceptable, at the level of the market average, and the reviews are mostly positive.

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