BingX offers spot, derivatives, and copy trading services to traders, and it won the “Best Exchange Broker” award from TradingView in 2021. This exchange was founded in 2018, and it has since grown to operate in over one-hundred countries. According to the company’s bio, it seeks to make itself the “peoples’ exchange” by connecting users with expert traders on an engaging, well-integrated platform. BingX places a heavy emphasis on social trading, and it offers extensive copy trading features to its clients. Read through this in-depth review to learn more.
Pros and Cons
Pros
- Copy Trading Platform Available
- Demo Account Available
- High Leverage For Certain Assets
- Well-Integrated Platforms
Cons
- No U.S. Investors Permitted
Recommended For
BingX is great for cryptocurrency traders of all experience levels, but we think that new traders (or any trader who wants to copy trade) will get the most out of signing up with this exchange. There are extensive copy-trading features, which allow you to mirror the trades of experts (we will discuss this more a few sections below). Additionally, there are user support features such as:
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Beginner’s Guide. This guide is similar to other “how-to” resources seen at similar brokers and exchanges. The BingX Beginner’s Guide goes through a basic tutorial about the fundamentals of using the platform and trading crypto. New traders will appreciate this in-depth resource.
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Help Center. At https://bingx.com/en-us/help/?ch=investing, there is a “Help Center” where you can input your question and be directed to the appropriate answer. Questions cover everything from password changes to verification, and this is a useful stop before calling BingX customer support.
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BingX Verify. This feature is definitely a highlight of this exchange, and we’re sure it has saved quite a few BingX clients from getting scammed. BingX Verify lets you enter a domain name, Telegram ID, or email address to determine whether that address belongs to a verified, legitimate BingX representative. If it does not, the exchange will let you know. That way, you won’t give out any information to someone pretending to work for the company in an attempt to steal your data.
BingX’s copy trading access, combined with its support features, indicate that this exchange is very welcoming towards new traders.
Regulated By
- DCE (Australia)
- Money Services Business (United States & Canada)
Top Features
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Spot Trading. With this feature, you can trade popular digital assets in just a few minutes. Spot trading is accessible via the BingX website, so you can begin working the market right from your browser. When you spot trade, you buy/sell crypto in real time with the aim of making a profit.
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Convert. BingX describes this as the “easiest way to trade.” This feature is available for BTC, ETH, and USDC. You can convert crypto into USDT at https://bingx.com/en-us/exchange/?ch=investing.
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Standard & Perpetual Futures. As mentioned, BingX offers derivatives trading, a service you can access at https://bingx.com/en-us/futures/forward/BTCUSDT/?ch=investing. You can trade both standard and perpetual futures, and, according to BingX, perpetual futures are best-suited to more experienced traders, while standard futures are easier to manage (comparatively).
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Grid Trading. Grid Trading is a new feature from BingX. This 24/7 automatic trading bot captures any profits that take place. The platform has approximately 90,000 users, and you can create a spot or futures grid with this social trading network. Grid Trading is an example of how BingX is an excellent social platform.
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Copy Trading. With BingX copy trading, you can copy the trades of successful, proven traders. There are different types of traders to copy, from those that are “trending” to more conservative traders. You can choose from futures and spot grid traders, and, if you have a good track record, you can even apply to become a copied trader.
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New User Rewards. There are a few bonuses exclusive to new traders with this exchange. First, you can get a “New User Reward” where you claim 125USDT at no cost. There is also a 60% APY and Free Risk Earn Reward, as well as other deposits, trading gifts, and bonuses. You can access the full list of new user rewards at https://bingx.com/en-us/mission/?ch=investing.
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Copy Feed. This copy trading feature is a news feed that allows you to access the latest trends from influencers and top traders. It is part of the BingX social trading network, and it is akin to a 24/7 streaming feed you might see at a more traditional broker.
Overview
- Type of Broker Non-Advisory/Executionary Broker
- Regulation & Licensing DCE (Australia), Money Services Business (United States & Canada)
- Clients Accepted from 100+ Countries
- Assets Offered 300+ Cryptocurrencies
- Platforms Available Web, Mobile
- Mobile Compatibility iOS, Android
- Payment Types Accepted Credit Card, C2C
Account Types
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BingX Account |
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Features |
Buy Crypto With Credit Card, Access To Copy Trading And Other Features |
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Account Currencies |
USDT |
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Available Leverage |
Depends On Asset |
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Minimum Deposit |
1USDT |
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0.05% Per Order For Takers, 0.02% Per Order For Makers |
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Decimal Pricing |
N/A |
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Trading Instruments |
300+ Cryptocurrencies |
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Min. Lot Size Per Trade |
Depends On Asset |
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Spreads |
N/A |
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Demo Account |
Yes |
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Swap/Rollover Free |
N/A |
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Copy Trading Support |
Yes |
Trading Platforms
- BingX Web
- BingX App
Trading and Investment Tools
- One Click Trading Yes
- Trade off Charts N/A
- Email Alerts Yes
- Mobile Alerts Yes
- Stop Order Yes
- Market Order Yes
- Trailing Stop Order Yes
- OCO Orders N/A
- Limit Order Yes
- 24hr Trading Yes
- Charting Package N/A
- Streaming News Feed Yes
Compliance & Regulation
BingX is regulated by DCE (Australia) and Money Services Business (United States & Canada). As an international financial service, this institution has offices in the EU, North America, Canada, Taiwan, and Hong Kong. BingX is a subsidiary of Bing Group, which has licenses in America, Australia, Canada, and the EU.
Fees & Commissions
- Rollover Fee N/A
- Margin Interest N/A
Pricing
For a complete list of trading fees, go to https://support.bingx.com/hc/en-001/articles/360027240173?ch=investing. This page details fees pertaining to withdrawals, standard futures trading, perpetual futures trading, and conversion and spot trading. The crypto exchange fee rate at BingX is 0.2%.
Service Details
- Supported Languages English
- Customer Service By BingX
- Customer Service Hours Can Submit Request At Any Time
- Email Response Time Within 48 Hours
- Telephone Orders No
- Personal Account Manager No
Reliability & Security
According to BingX, this exchange takes reliability and security very seriously. Here are some of the measures it has incorporated to make sure its platform security, which it describes as its “lifeline,” is top-notch:
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2FA Verification
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Bank-Grade Custody Solutions
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Regular Operation/Maintenance Reviews
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Partners With SlowMist (Since 2020)
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Insurance Fund Mechanism
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Abnormalities Removed To Protect Clients From Volatile Currencies
For more information on BingX’s security measures, check out their blog article at https://support.bingx.com/hc/en-001/articles/6157047479193-BingX-Measures-on-Ensuring-Platform-Security-and-User-Protection?ch=investing.
User Experience
To gauge user experience with BingX, we can look at customer ratings from aggregate review sites. Here is some of the feedback we found and its source(s):
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TrustPilot: 4.7/5
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Cryptowisser: 3.7/5
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HedgeWithCrypto: 4.2/5
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CaptainalCoin: 8.2/10
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Newton Advisor: 4.7/5
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Facebook: 4.9/5
Final Thoughts
Overall, BingX has a lot to offer new traders who are interested in cryptocurrency trading. Its social features make it an excellent platform for copy trading, and this exchange is easy-to-use, user-friendly, and transparent.
Contact Info
306, Victoria House, Victoria, Mahe, Seychelles
FAQs
Q: How do I register for an account with BingX?
A: You can get started at https://bingx.com/en-us/register/?ch=investing. There are two types of registration: email and mobile phone. For both signups, you can input your referral code, if you have one.
Q: Where can I find market information with this broker?
A: At https://bingx.com/en-us/market/futures/?ch=investing, you can find market information and details with BingX. This includes information on favorites, spot, futures, new currency, and more.
Q: Does BingX offer an affiliate program?
A: Yes. If you want to become an affiliate with this broker, go to https://bingx.com/en-us/global-partner/?origin_type=homebuttom?ch=investing. There, you can apply to become an affiliate, and you will be given more information on what this social media marketing strategy entails.
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