BingX review is a social trading crypto exchange that is highly regarded in the crypto community due to its unique approach to trading, allowing users to copy the trades of successful traders. BingX is a name that is often mentioned in the crypto community.
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So what is BingX? Reputable or scam? What pros and cons does it have? What key features are there? Reputable or scam?
BingX Review Overview
|✅ Official Website||https://bingx.com/en-us/|
|✅ Found in||2018|
|✅ Native Token||None|
|✅ Listed Cryptocurrency||BTC, ETH, LTC, XRP, BCH, LINK & 10 others|
|✅ Supported Fiat Currencies||None (USD, AUD, EUR and others available via third-party)|
|✅ Trading Pairs||300+ Cryptocurrencies|
|✅ Clients Accepted from||100+ Countries|
|✅ Minimum Deposit||1 USDT/ 0.01ETH/ 0.0002BTC|
|✅ Deposit Fees||No fees to Deposit Cryptocurrency|
|✅ Transaction Fees||0.075%|
|✅ Withdrawal Fees||0.0005 BTC|
|✅ Platforms Available||Web, Mobile|
|✅ Mobile App||iOS, Android|
|✅ Payment Types Accepted||Credit Card, C2C|
|✅ Customer Support||Live Chat, FAQs, and Submit Complaint Support|
What is BingX?
Bingx is a cryptocurrency exchange, a contracts trading platform for differences. Similar to futures on the Binance exchange. The BingX exchange allows users to trade high-speed, secure, low-fee contracts on various contracts, including cryptocurrencies, indices, and forex pairs.
Founded in 2018 in Taiwan, BingX has established itself as a leading cryptocurrency trading platform that allows traders to use crypto derivatives contracts. BingX was founded with the aim of becoming the pioneer and market-leading cryptocurrency exchange.
BingX is a leading cryptocurrency exchange that offers a variety of features for both beginner and experienced traders. It supports over 600+ cryptocurrencies, including Bitcoin, Ethereum, and Tether. BingX also offers spot trading, margin trading, futures trading, and copy trading.
BingX Referral Code: MZ80T1KB
Yes, the BingX referral code is MZ80T1KB. You can use this code to get a sign-up bonus of up to $5125 and a 25% discount on trading fees.
Here are the steps on how to use the referral code:
- Go to the BingX website or app.
- Click on the “Sign Up” button.
- Enter your email address and create a password.
- In the “Referral Code” field, enter the code MZ80T1KB.
- Click on the “Sign Up” button.
You will then be eligible for the sign-up bonus and trading fee discount.
|✅ BingX Exchange||Sign Up / Register|
|✅ Sign Up for a Bonus||$5125 + 25% discount fee|
|✅ Referral Code||MZ80T1KB|
|✅ Refer and Earn||up to 55% trading commissions|
BingX Review: Pros and Cons
As a cryptocurrency exchange, BingX will have certain pros and cons.
- Access to Copy Trading Platform
- Availability of Demo Account
- High Leverage offered for selected Assets
- Well-Integrated Trading Platforms
- Economical Crypto Trading with maximum fees capped at 0.2%
- Derivatives and Leveraged Margin Markets with up to 125x leverage
- 24/7 Live Chat Support is available
- Traders from the US are prohibited.
- Trading with fiat currency is not supported, only third-party purchases.
- The exchange's security information is not comprehensive enough.
- There is limited information on the storage and security measures for assets.
- Crypto-to-crypto transactions are limited to USDT trading pairs.
Is BingX Safe?
BingX's main product is Contract for Difference (CFD) trading. As the name suggests, a CFD is a contract between two parties (usually referred to as the “buyer” and the “seller”) that agrees on the price difference of an underlying asset.
The unique features of CFD trading that make it an interesting and exciting product offered by BingX Exchange are:
- CFDs are a type of derivative.
- Leverage can be used when trading CFDs.
- You can profit from both rising and falling prices.
In summary, BingX is a trading platform that can provide you with effective and secure opportunities to earn profits thanks to the unique features of CFD trading.
BingX Review Top Features
BingX offers a Copy Trading feature that allows users to automatically replicate trades made by well-known traders. The list of traders is based on their trading style, number of followers, and profit rates.
The platform displays each trader's overall statistics as well as their recent trades. Users can set their maximum amount and the daily limit for specific copy trades, which helps to limit potential losses. Additionally, BingX allows users to use the demo trading currency, VST, to copy trades. It's important to note that Copy Trading should be used with caution.
Through the Spot Trading feature on BingX, users can trade popular digital assets quickly and easily. Accessible via the BingX website, spot trading allows users to buy or sell cryptocurrencies in real time with the goal of making a profit.
BingX provides a robust crypto margin platform, which includes derivatives and futures that are available with leverage of up to 125x. Additionally, users can also access futures trading for commodities, indices, and Forex. The platform offers both standard derivatives and perpetual futures, which are specific to cryptocurrency trading.
Standard derivatives allow users to trade cryptocurrencies with up to 125x leverage, as well as other assets with varying leverage amounts. Users can take both long and short positions and place a market or trigger orders, which are similar to limit orders. Furthermore, users can hone their trading skills by using VST demo trading.
According to BingX, this feature is touted as the “most straightforward way to trade”. It is currently offered for trading BTC, ETH, and USDC.
BingX has recently introduced a new feature called Grid Trading, which is an automated trading bot that operates 24/7 and captures any potential profits.
With approximately 90,000 users on the platform, users can create spot or futures grids within this social trading network. Grid Trading is just one example of how BingX is an exceptional social platform.
As mentioned earlier, BingX offers a demo trading currency called VST, which is a great way to support demo trading. When a user creates an account, they receive 100,000 VST, which is equivalent to 1 dollar.
The VST currency can be used to practice trading all of the contracts offered by BingX. To participate in demo trading, users can access the trade menu and enter the desired amount of VST.
How To Register BingX Account?
To begin trading with BingX, a top crypto trading platform, you must first register and create a BingX account. Follow the step-by-step tutorial below for the registration and login process:
- Step 1: Visit the official BingX website and click on Login/Signup located in the top right corner.
- Step 2: Fill out the form with your personal information, such as your name, phone number, email address, and password.
- Step 3: If you have a referral code: MZ80T1KB enter it in the designated field.
- Step 4: Click Submit. You will receive an activation email to confirm your email address.
- Step 5: Once you confirm your email ID, your account will be automatically activated, and a 6-digit OTP will be sent to your mobile number. After logging into your new BingX account, enter the OTP.
Note that BingX does not include any KYC process for depositing funds into the platform. Once the account is created, you can log in and start exchanging and exploring the excellent BingX features.
Sign Up with BingX and Earn Up to 5,125 USDT
BingX, a leading global trading platform, is currently offering an exciting promotion with generous rewards for new users. By signing up for BingX, you can receive up to 5125 USDT as a welcome gift. To claim your reward, follow these simple steps:
- Register for BingX and receive a 5125 USDT Rebate Voucher.
- Complete the tasks located in the New User Rewards section.
- Claim your rewards.
It's that easy to start earning on BingX! However, act quickly as this promotion is limited to only 1,000 new users per day. Once you become familiar with the platform, you can increase your profits by trying out copy trading or trading hot assets in spot trading. And if you have a strong trading background, you can explore the platform's derivatives trading options.
How To Join the BingX Referral Program and Get Commission?
- Step 1: Register a free account
- Step 2: Message the Facebook fan page to activate the affiliate marketing program with a commission of 45%
- Step 3: Check the commission is raised to 50% at https://bingx.com/en-us/invite/
BingX Account Types
Buy Crypto With Credit Card
|✅ Account Currencies||USDT|
|✅ Available Leverage|
Depends On Asset
|✅ Minimum Deposit||1USDT|
|✅ Commission Per Trade|
0.05% Per Order For Takers, 0.02% Per Order For Makers
|✅ Decimal Pricing||N/A|
|✅ Trading Instruments|
|✅ Min. Lot Size Per Trade|
Depends On Asset
|✅ Demo Account||Yes|
|✅ Swap/Rollover Free||N/A|
|✅ Copy Trading Support||Yes|
- BingX Web
- BingX Mobile App
Trading With BingX
To start trading with BingX, follow these steps:
- Two-factor authentication (2FA) verification to prevent unauthorized access to user accounts.
- Bank-grade custody solutions to protect user assets and funds.
- Regular operation and maintenance reviews to ensure the platform is up-to-date with the latest security features and practices.
- Partnership with SlowMist, a security company that provides real-time security monitoring and response services.
- Insurance fund mechanism to protect users against potential losses due to unexpected events.
- Abnormalities are quickly detected and removed to protect clients from the volatility of currencies.
Remember to always trade responsibly and to thoroughly research any investment opportunities before committing funds.
BingX Review Fees
BingX Trading Fees
When you place an order on an exchange, you are typically charged a trading fee, which is usually a percentage of the trade order's value. Many exchanges differentiate between takers and makers, where takers take existing orders from the order book, and makers add orders to the order book, creating liquidity.
At BingX, takers are charged a fee of 0.05% per order (for perpetual futures), while makers are charged 0.02%. According to the most comprehensive industry report on contract trading, the global average taker fee and maker fee for contract trading was 0.0618% and 0.02597%, respectively. Therefore, BingX's fee rate is lower than the industry average for both makers and takers.
Overall, BingX's fees are competitive and attractive.
|Cryptocurrency – Bitcoin||0.02% ~ 0.1%|
|Cryptocurrencies other than Bitcoin||0.02% ~ 0.2%|
|Global Indies||0.02% ~ 0.15%|
|Commodities||0.02% ~ 0.1%|
|Forex||0.02% ~ 0.1%|
BingX Withdrawal Fees
As far as we know, there are no withdrawal fees imposed by BingX when you withdraw cryptocurrency from your account. Therefore, the only fees to consider when withdrawing are the network fees, which are paid to the relevant crypto/blockchain miners and not to the exchange. Network fees fluctuate on a daily basis based on network demand. Generally speaking, paying only the network fees should be regarded as below the global industry average in terms of fee levels for crypto withdrawals.
BingX Deposit Fees
BingX's deposit fee structure is highly user-friendly, as the platform does not charge any fees for depositing cryptocurrencies into trading accounts. However, fees may apply when transferring fiat currency to cryptocurrency based on the deposit method and the selected third-party provider in the user's region. It is recommended to review the details of the fee structure on BingX's official website to obtain a comprehensive understanding of the fees involved.
BingX Accepted Payment Method
BingX provides its users with multiple payment options, which include:
- Debit or Credit Card (Mastercard, Visa)
- MoonPay and Banxa
- Apple Pay
Of course, cryptocurrencies can also be deposited into BingX accounts. It is important to note that fees may apply to certain payment methods, so it is recommended to review the fee structure on BingX's official website.
BingX Revieew Reliability & Security
BingX emphasizes the importance of reliability and security and has implemented various measures to ensure the platform's security. These measures include:
Two-factor authentication (2FA) verification to prevent unauthorized access to user accounts.
Bank-grade custody solutions to protect user assets and funds.
Regular operation and maintenance reviews to ensure the platform is up-to-date with the latest security features and practices.
Partnership with SlowMist, a security company that provides real-time security monitoring and response services.
Insurance fund mechanism to protect users against potential losses due to unexpected events.
Abnormalities are quickly detected and removed to protect clients from the volatility of currencies.
Overall, BingX strives to provide a secure and reliable trading environment for its users.
BingX Customer Support
The BingX Help Centre offers extensive support documentation as the first point of contact for customers. This resource assists users in learning how to use the platform and troubleshooting common issues. If users encounter technical problems or have queries about BingX's range of products and services, they can contact customer support via email tickets or the 24/7 live chat. This level of customer support is superior to that of most other crypto exchanges, as it allows users to quickly connect with a support team member.
During our review, we found that the BingX live chat support team responded to our request within 10 minutes, providing us with concise and accurate answers to our questions. This level of customer service is superior to that of most other exchanges we have reviewed.
Community of Bingx exchange
- Twitter: https://twitter.com/bingxcom
- Facebook: https://www.facebook.com/bingxcom
- LinkedIn: https://www.linkedin.com/company/bingx-com/
- Telegram: https://t.me/bingx_com
- Medium: https://medium.com/bingx-com
- Reddit: https://www.reddit.com/user/bingxcom
- Instagram: https://www.instagram.com/bingxcom/
BingX vs Bybit
$5125 + 25% Discount Fee
$3,230 Reward +$500 Bonus + 15% off Fees
BingX vs Binance
$5125 + 25% Discount Fee
$100 + 20% Discount Fee
BingX Review: Conclusion
BingX is a long and easy-to-use exchange for beginners to get started with. In addition to the main product, which is CFD, BingX has been developing many products such as Spot, Copy, Futures, Convert, etc.
Hopefully, through this BingX review article, you will understand the above information and be able to trade for profit on BingX.