BingX Review

Our BingX review focuses on the feature that defines the platform: copy trading. Where most exchanges added social features as a side project, BingX made following other traders its centrepiece, and the numbers it reports are large. By the third quarter of 2025 it cited more than $80 billion in cumulative copy-trading volume, over 700 million copied orders and more than 40,000 lead traders. Whether that model suits you depends on how you view handing trade decisions to someone else.

How Copy Trading Works Here

Users browse lead traders by category, such as trending, conservative or rising performers, and review their history, drawdowns and follower counts. Copying is available for both futures and spot. Two allocation modes exist: matching the leader’s position ratio, or committing a fixed amount per order. Copied futures trades pay the same fees as regular perpetuals, while successful lead traders can earn up to 32% of followers’ profits as commission. The convenience is real, but so is the risk. Past returns from a leader do not predict future results, and leveraged strategies can unwind quickly.

Company Profile

The business launched in 2018 as BingBon and rebranded to BingX in November 2021. CoinGecko lists its registration in the British Virgin Islands, and it reports more than 20 million users. It has publicised registrations such as a US money services business filing and Australian AUSTRAC enrolment, but these are anti-money-laundering registrations rather than full exchange licences, so we classify it as offshore. It sponsors Chelsea Football Club and achieved ISO 27001 and PCI DSS certifications in 2025.

The 2027 Incident

In September 2024 BingX detected abnormal outflows from a hot wallet, with losses estimated at about $43 million, mostly in Ethereum and BNB Chain tokens. The exchange paused withdrawals, said it would cover losses from its own funds and reported no permanent loss of user assets. It publishes Merkle-tree proof-of-reserves snapshots on the 1st and 15th of each month.

Fees at a Glance

Spot trading starts at 0.10% for makers and takers, dropping as low as 0.005% and 0.02% at the top VIP tier. Perpetual futures cost 0.02% maker and 0.05% taker, and standard futures use a flat 0.045%. Deposits are free. Withdrawals are fixed per network, for example 0.0005 BTC, 1 USDT on TRC-20 or 10 USDT on ERC-20, so choosing the right chain matters.

Beyond Copying

CoinGecko shows 598 coins and 620 spot pairs with about $169 million in daily spot volume. The product shelf includes margin, perpetual and standard futures, grid bots, pre-market trading for unlisted tokens, Launchpool, savings products under the Wealth banner, Convert and Quick Buy tools, a P2P desk and a BingX Card. Fiat purchases are possible in more than 100 local currencies through cards, Apple Pay, SEPA and P2P. Verification has Basic and Advanced tiers; Advanced requires ID photos and facial recognition and raises withdrawal limits substantially.

Restrictions

BingX blocks users in the United States, the United Kingdom, Canada, the Netherlands, Singapore, mainland China, Hong Kong and several sanctioned regions. Accessing it from these places breaches its terms.

Our View

BingX is a capable choice for traders in supported countries who want structured copy trading, low derivatives fees and a wide token list in one app. Its weaker points are regulatory depth and the 2024 breach, which keep its security score in the middle of our range. Treat copied strategies as high risk and keep only working capital on the exchange. A practical approach is to start with small allocations, follow leaders with long histories and moderate drawdowns, and set your own stop-loss limits rather than relying on theirs.

Following another trader does not reduce market risk; leveraged copy positions can be liquidated just as fast as your own.

BingX FAQ

Risk warning: Trading forex and CFDs on margin carries a high level of risk. Bonus terms are set by each broker and may change; always check the broker's official terms before claiming.