BingX Review | Is BingX Exchange Reliable? A Complete Analysis of Regulatory Compliance, Trading Conditions, Security, and User Reviews

1. Platform Background and Development History

Founded in 2018 , BingX was originally named Bingbon and registered in Singapore. It subsequently expanded to markets such as Taiwan, Vietnam, and South Korea. In 2021, it changed its name to BingX and has been gradually expanding globally, focusing on contract trading and social copy trading as its core competencies.

Development History:

• 2018 : Bingbon went online, focusing on contract trading.

• 2019-2020 : Launched the copy trading function and achieved rapid growth in the Southeast Asian market.

• 2021 : Changed its name to BingX to strengthen its international positioning.

• 2022-2023 : Average daily trading volume ranks among the top 15 in the world.

• 2024-Present : The number of users exceeds 5 million , and the exchange supports multiple languages, becoming a globally well-known medium-sized exchange.

Positioning : BingX is known as a "social crypto exchange." Compared to Bybit and OKX, its main feature is copy trading.

2. Trading Account and Trading Conditions

BingX provides users with various services including spot trading, contracts, ETFs, and copy trading :

Advantages:

• Copy trading is simple and easy to use, and novices can learn by following orders.

• The transaction fee is relatively reasonable and on par with Binance and OKX.

• Leverage is flexible and contract depth is constantly improving.

Disadvantages:

• The types of contracts are not as rich as Binance.

• Some small currencies lack liquidity.

III. Supervision and Compliance

BingX's compliance status is a major concern for investors. Currently, BingX does not have licenses in major financial markets such as the United States and Europe, but operates through some registration and compliance arrangements:

⚠️ Overall, although BingX has taken some compliance actions, it has not yet reached the highest global regulatory threshold.

IV. Product and Market Coverage

• Spot trading : BTC, ETH, SOL, ARB and other mainstream currencies as well as a large number of altcoins.

• Contract Trading : Perpetual contracts support mainstream and popular currencies, with a leverage of up to 1:150.

• ETF leverage : suitable for short-term investors.

• Copy Trading : BingX’s star product, with thousands of professional traders already on board, allows users to choose to automatically follow orders.

• Financial management : Supports regular and current financial management of USDT and BTC.

Advantages: The product structure is complete and meets the needs of novice and intermediate traders.
Disadvantages: Lack of more complex derivatives such as options.

5. Trade Execution and Technical Performance

• Matching engine : supports 100,000 orders per second.

• APP experience : clear interface and outstanding social functions.

• API : Supports quantitative trading, but its stability is slightly weaker than Binance.

• Slippage control : Large orders may have certain slippage, especially for small currency contracts.

• Copy trading system : It is easy to operate, but there is difficulty in identifying traders.

6. Deposit and Withdrawal

BingX supports multiple deposit and withdrawal methods:

• Cryptocurrency top-up : mainstream stablecoins (USDT, USDC) + popular currencies.

• Fiat currency channel : Through third-party payment (MoonPay, Mercuryo), support credit card purchases.

• Withdrawal time : usually arrives within 30 minutes to 2 hours.

• ⚠️ User feedback: Withdrawal delays occurred during some peak periods.

VII. Customer Service and Support

• Supported languages : Chinese, English, Korean, Vietnamese, Spanish, etc.

• Customer service methods : APP work ticket system, email ( [email protected] ), and social media.

• Response time : Usually within 24 hours.

• Educational resources : Provide copy trading tutorials and trading strategy sharing.

8. Media and User Reviews

International media comments

• Cointelegraph: Called BingX “one of the fastest-growing mid-sized exchanges, particularly in the copy trading space.”

• FX110: Rated as medium risk due to limited regulatory coverage.

User reputation

• Positive reviews : Great copy trading experience, user-friendly app, and low fees.

• Negative reviews : Withdrawals are occasionally delayed, and some small currencies have poor liquidity.

IX. Risk Warning

• Regulatory risks : No top-level regulatory license, potential policy risks.

• Risk of copy trading : The level of traders varies, which may lead to losses.

• Market risk : Highly leveraged contracts carry the risk of liquidation.

10. Multi-dimensional scoring (out of 10 points)

• Regulation and Safety : 6/10 — Some licensing, but no top-tier regulation.

• Trading Conditions : 7/10 — Reasonable fees and flexible leverage.

• Product richness : 8/10 — Copy trading + ETF features are obvious.

• Technology and Liquidity : 7/10 — Good liquidity for major pairs, insufficient for smaller coins.

• Customer Service and Service : 7/10 — Multi-language support, but limited response speed.

📊Overall rating: 7.0/10
BingX is suitable for small and medium-sized capital users and novice traders, especially those who want to try copy trading. However, caution is still required when using long-term large amounts of capital.

11. Conclusion

BingX is a mid-tier exchange globally, with distinct features:

• Advantages: Copy trading, low fees, good user experience.

• Disadvantages: Insufficient compliance and lack of depth in some products.

👉 Official website: https://bingx.com