BingX review: a feature-rich copy-trading exchange with competitive fees, a 2024 hot-wallet theft and a brand-new, unlaunched MiCA licence.

BingX publishes a Proof of Reserves page with monthly Merkle-tree snapshots. Its July 15, 2026 report listed reserve ratios of 142.82% for BTC, 126.48% for ETH, 131.83% for USDT and 124.41% for USDC (company-reported), and users can check their own balance against the tree for BTC, ETH and USDT. That coverage is narrower than the full asset list, and we could not confirm an independent auditor behind it. The July 2026 Trust Center also cites a $150 million Shield Fund, PCI DSS 4.0.1 and ISO/IEC 27001 certifications, multi-signature withdrawals and a tiered cold, warm and hot wallet design (all company-reported). The incident record is the counterweight. On September 20, 2024 attackers drained hot wallets across several chains. Estimates of the loss ranged from an early $26.7 million (PeckShield) to about $43 million to $44.7 million (PeckShield, QuillAudits), more than $47 million (SlowMist) and $52 million (Cyvers), so the figure is disputed. BingX called it a “minor asset loss,” moved funds to cold storage, froze about $10 million, restored withdrawals within roughly a day and said it covered all losses from its reserves. Halborn’s analysis argued that compromise across several chains suggests keys may have been held in one central repository, which is an outside inference rather than a confirmed finding. We found no later thefts in the sources we reviewed.

BingX’s licensing is improving but still thin. Third-party summaries say BINGX GLOBAL PTY LTD is registered with Australia’s AUSTRAC as a digital currency exchange provider, and BINGX EU UAB is registered as a virtual asset service provider with Lithuania’s Financial Crime Investigation Service; both are registrations focused on anti-money-laundering controls, not MiCA authorisations or consumer-protection licences, and you should verify them on the registers. The major recent change is in Europe. BingX said on June 16, 2026 that its Austrian MiCA application was advanced but not granted, and the EU transition period ended on July 1, 2026. Austria’s FMA then authorised MEGE zweite GmbH, operating as BingX EU, to provide four crypto-asset services on October 13, 2026, announced on October 14. As of mid-October 2026 it did not yet appear in ESMA’s register, BingX had set no launch date for regulated EU services, and the authorisation covers that one Vienna entity rather than other BingX companies. Regulators have also warned about BingX in the past, including Belgium’s FSMA (June 2023) and Spain’s CNMV, and BingX is blocked in the US, UK and Canada among about 21 restricted jurisdictions (DataWallet; TradingFinder also lists the Netherlands). Corporate details are inconsistent: press releases are dated Panama City, while news outlets describe a Singapore-based exchange.

BingX is competitively priced. Its own support pages and several comparison sites agree on a flat 0.10% maker and 0.10% taker rate on spot, with perpetual futures at 0.02% maker and 0.05% taker at the base tier. VIP tiers reduce these: DataWallet gives spot as low as 0.005% maker and 0.02% taker at the top tier, BingX’s own learn pages mention a 0.014% maker rate at advanced tiers, and coinperps lists futures VIP 5 at 0.006% maker and 0.03% taker, with the Supreme VIP tier at 0% maker and 0.028% taker. We could not reconcile the exact top-tier spot maker rate, so treat it as a range. Currency conversion carries a 0.2% fee (BingX support page). Perpetual funding rates apply, and a copy-trading profit share goes to lead traders, with one review citing 8% that we could not verify. There is a zero-fee demo account. We could not load the live fee schedule, so confirm current rates before trading.

Coverage is wide, though counts disagree. Sources give roughly 780 to more than 1,000 spot coins or pairs: DataWallet and coinperps cite 1,000+, BingX’s own comparison articles say 1,000+ in one and 900+ in another, TradingFinder says 800 and another review cites about 780 spot pairs. An older competitor-written page said about 200, which we excluded. Derivatives are the focus, with 254 to 380 perpetual contracts depending on source and a company-cited CoinGecko report crediting BingX with 565 new perpetual listings since 2025. Since January 2026 it has also offered a TradFi market with more than 100 stocks, indices, commodities and forex products, which the company says reached 50% of volume in the first quarter of 2026. Margin and leverage are available, staking exists and there are grid bots, though only three types according to FXEmpire. For EU customers, the regulated entity has not yet launched, so product access there is uncertain.

BingX is built around trading tools. Copy trading is the flagship, alongside a demo account, AI-assisted features, TradFi markets and, from Q2 2026, an upgraded TradingView integration (company-reported). Minimum deposits are low, with $1 cited by two sources, and card and P2P funding exist. The weak side shows up in user feedback on withdrawals and frozen accounts, and in verification-linked limits described by comparison sites. The interface is aimed at active traders, so it is denser than a beginner broker app.

Public feedback is poor. Trustpilot shows a TrustScore of 1.5 out of 5 on about 733 reviews on the Irish page we saw, and Reviews.io shows 1.6 on roughly 660 to 680 reviews with only 8% of reviewers recommending it. Common complaints are frozen accounts, blocked withdrawals after verification, generic support replies and disputes about deleted PnL data. BingX replies to about 88% of negative Trustpilot reviews, typically within a week, and asks users to email support with their UID. Some reviewers praise fast Telegram or chat resolutions, and BingX says support runs 24 hours a day through live chat and email; one review site notes no phone support. These platforms attract disproportionately negative reviews and can include unverified claims, so we weight them moderately, and a cluster of September 2024 reviews comes from holders of the APES token demanding compensation after the hack.

The ecosystem centres on social and AI trading. Copy trading is the headline, though its scale depends on the source: FXEmpire cites more than 2,000 traders to copy, Solana Compass says more than 15,000 strategy providers and 11 million copy relationships in mid-2026, and another review cites 100,000+ registered lead traders, so we treat these figures as unreconciled. BingX also offers AI tools launched in 2026, staking, a launchpool, and TradFi perpetuals. The company reports more than 40 million users (company-reported), is Chelsea FC’s principal partner and became Scuderia Ferrari HP’s first crypto exchange partner in 2026. One report alleges that an AI-trading partner, Trade4Me, lacks authorisation from major regulators and has drawn scam allegations, which we could not verify but which adds partner risk.