The cryptocurrency exchange BingX, which is also known as a copytrading platform, was founded in 2018. Over the years, it has been able to expand to more than 100 countries. According to the exchange, it now has about 5 million users as its customers. As the CoinMarketCap rating shows, the daily trading volume here (for the end of October 2023) exceeds 640 million dollars. How much crypto in BingX, clearly demonstrates the possibility of choosing among 720 markets with the involvement of more than 550 coins and a number of fiat currencies.
BingX crypto exchange options include spot and derivatives trading, as well as various currency conversion and exchange methods. Customers can take advantage of the copy-trading feature, thanks to which the ability to automatically copy the trades of experienced traders is available. If the user owns assets that he/she does not involve in trading, it is possible to use the Wealth service - it will allow receiving a certain percentage income.
The exchange's trading commissions are fixed and below the market average. Both new and regular clients are offered bonuses. They can be obtained by performing a number of tasks - for example, for registration, first deposit, etc.
The exchange is very popular among users from CIS countries, especially after the tightening of sanctions restrictions, particularly on Binance. In this regard, many traders continued their activities on the BingX platform.
Total score | 7.5 |
---|---|
Commissions | 7 |
Safety and regulation | 8 |
Markets | 8 |
Passive income | 7 |
Account opening | 9 |
Deposit and withdrawal | 8 |
Trading platforms | 8 |
Analytics | 6 |
Training | 8 |
Customer support | 8 |
Bonuses | 6 |
Title | BingX |
---|---|
Website | bingx.com |
Type of exchange | Centralized |
Regulation | Licensed in the USA, Canada, Australia and Lithuania |
Commission Taker | 0.1% for spot, 0.05% for open-ended futures (excluding available discounts) and 0.045% for standard futures |
Commission Maker | 0.1% for spot, 0.02% for open-ended futures (excluding available discounts) and 0.045% for standard futures |
Demo account availability | Yes |
Minimum deposit | Depends on the selected currency |
Bitcoin withdrawal limits | 50,000 USDT daily for unverified users and 5,000,000 USDT daily for verified users. The total amount is not limited. |
Withdrawal limits USD | You can't withdraw in a fiat |
Withdrawal in fiat | Absent |
Time to open an account | 2 minutes |
Margin leverage | 1x to 150x |
Markets | More than 700 |
Options for passive income | Copytrading, Wealth, grid trading, affiliate program |
Technical support language | English, Russian, German, Spanish, etc. |
Withdrawal fee | Depends on the chosen coin and network - 0.00035 BTC, 0.000768 ETH, etc. |
Replenishment methods | Crypto wallets, accounts on other exchanges, buying coins for fiat via bank transfers |
Output methods | Crypto wallets, accounts on other exchanges, selling coins for fiat via bank transfers |
Account currencies | USDT, BTC |
Bonuses | For registration, for making a deposit, for completing tasks |
Trading fees of the BingX cryptocurrency exchange are fixed for spot trading. As for futures, here the commission fee depends on the trading volume - within open-ended contracts, users can increase their VIP level and, as a consequence, reduce the size of commissions. It is also important to note that, unlike a number of other platforms, BingX does not provide an opportunity to receive discounts for using the exchange's own token, as there is none.
The advantage for exchange customers is that they can fund their trading account without commission. This applies to all coins available on the platform. However, you will have to pay a certain commission fee to withdraw your earnings. Its size depends on the selected currency, as well as on what network is used for the transfer. For example, when withdrawing ether, the commission varies from 0.000768 for the Ethereum network (ERC20) to 0.001 for Linea. Users can find out the exact data directly on the exchange's website. To do this, just go to the "Trading Commissions" section, available in the footer of the main page of the site.
The trading commissions offered by the BingX exchange differ depending on what type of trading a trader chooses. If it is a spot, there is a 0.1% fee for all trading pairs, both for makers and takers. In this case, it will not be possible to get any discounts or VIP conditions.
If a user chooses futures trading, their commission amount will depend on the type of contracts used. The available options are:
In addition, when choosing perpetual contracts, a trader can expect a discount. This is provided to exchange clients when they reach a certain trading volume per month. At this point, they are assigned a corresponding VIP level. More details on the conditions can be found in the table below.
Level | Assets yesterday (USDT) | Trading volume for 30 days (USDT) | Maker's commission* | Taker's Commission* |
---|---|---|---|---|
VIP 0 | <50 000 | <10 000 000 | 0,0200% | 0,0500% |
VIP 1 | ⩾ 50 000 | ⩾ 10 000 000 | 0,0060% | 0,0475% |
VIP 2 | ⩾ 200 000 | ⩾ 20 000 000 | 0,0040% | 0,0425% |
VIP 3 | ⩾ 1 000 000 | ⩾ 50 000 000 | 0,0020% | 0,0400% |
VIP 4 | ⩾ 2 000 000 | ⩾ 100 000 000 | 0,0020% | 0,0375% |
VIP 5 | ⩾ 3 000 000 | ⩾ 200 000 000 | 0,0015% | 0,0350% |
BingX | Binance | HTX | |
---|---|---|---|
Taker | 0.1% | 0.06% | 0.09% |
Maker | 0.1% | 0.05% | 0.08% |
The presented data show that the commission level in spot trading is somewhat inferior to the offers of popular exchanges. However, comparing these figures with the market average, it can be noted that they are very attractive.
It is not easy to estimate unambiguously the level of commission for deposit and withdrawal of funds. Coins can be deposited without additional fees. But when withdrawing the commission will still have to be paid. For some coins, the size of such a fee is small. For example, it is possible to withdraw bitcoins with payment of only 0.00035 BTC commission. However, if the user wants to withdraw such a coin as DOGE, he will need to pay an additional 7 of its units.
Leverage on the BingX exchange can be used only when trading futures. Its minimum size starts at 1x, and the maximum depends on the selected currency pair. For some contracts, leverage of 150x is available. The choice of leverage affects the size of the maintenance margin rate, thanks to which it is possible to maintain positions and avoid liquidation. For example, in the currency pair BTC/USDT, if leverage of 150x is used, the maintenance margin will be equal to 0.3167%. If the leverage is reduced to 1x, the rate will increase to 40%.
Users can find information about BingX licensing directly on the cryptocurrency exchange's website itself. The provided information indicates that the crypto exchange has several licenses issued in such countries:
In addition, the exchange positions itself as a platform with a guarantee of reliability and security, emphasizing that clients' funds are 100% supported by a reserve fund. All this information is provided in a completely transparent format. The crypto exchange publishes data twice a month.
To finally understand whether BingX can be trusted, it is also worth finding out whose exchange it is. The Internet managed to find information that the platform was originally registered in the British Virgin Islands. However, it now has official registration in all countries where it has obtained licenses. Thanks to this, the crypto exchange was able to cover more than 100 countries. After reading the reviews about BingX, we can conclude that it enjoys a very high level of trust among users.
The BingX cryptocurrency exchange offers traders different trading options. Here you can trade on spot, as well as buy and sell standard and open-ended futures.
BingX Exchange | Binance | HTX | |
---|---|---|---|
Total number of cryptocurrencies* | 544 | 387 | 603 |
Total number of trading pairs* | 720 | 1572 | 765 |
Bitcoin | Yes | Yes | Yes |
Etherium | Yes | Yes | Yes |
Altcoins | Yes | Yes | Yes |
Futures | Yes | Yes | Yes |
Cryptocurrency funds (a basket of cryptocurrencies in one lot) | No | No | No |
NFT | Yes | Yes | Yes |
As for the available cryptocurrencies, their number can be considered quite decent. At the time of writing this review, this number amounted to 544 coins. Among the cryptocurrency pairs available on the exchange, the total number of which exceeds 700 variants, the most popular are BTC/USDT, ETH/USDT, LTS/USDT. There are also less popular variants - for example, LAZIO/USDT, C98/USDT or IZI/USDT. Pairs are also possible in other combinations - DOT/USDC, ETH/BTC, BETH/ETH, etc.
Among the wide variety of cryptocurrencies available for trading on the BingX exchange, traders can choose almost any of the popular coins. For example, it can be USDT, BTC, ETH and others. Users often favor these coins, as they demonstrate relative stability in the crypto market.
At the same time, it is possible to trade with more rare or new currencies. Among such currencies are BYK, GNAR, VIKINGS, and so on. Due to the fact that these coins show a fairly high volatility, they allow crypto traders to make money on significant jumps in value. However, at the same time, the risk is quite high.
On the futures market, BingX users can trade open-ended and standard contracts. In the first case, more than 180 trading pairs are available. You can choose the popular USDT/BTC or, for example, USDT/ETH. They demonstrate the highest trading volume per day. As for the less popular currency pairs, such as PEPE/USDT, SLP/USDT, etc., their trading volumes for 24 hours are currently the lowest.
When choosing standard futures, the variety of offers is wider. Here, it is possible to attract various cryptocurrency pairs, as well as to trade COIN-M contracts.
An important advantage is also the possibility of using leverage. Its available size depends on the selected currency pair and can reach 150x. To find out how much leverage you can attract in a particular transaction, you need to click on the "Leverage" option, which is located above the window for creating a request.
This option allows the trader to set the price range of transactions, after which the assets will be divided into equal parts and automatically involved in buying/selling in accordance with all the configured parameters. A significant plus here is that this approach allows you to buy cheap and sell expensive, taking into account the high volatility of the market.
The number of ways to get passive income on the BingX cryptocurrency exchange cannot be called really impressive. However, you will still be able to find interesting options here. Among them are the following:
Each of the services can be used only by registered users. In addition, before choosing one or another way to earn passive income on BingX, it is worthwhile to familiarize yourself with its terms and conditions in detail and, if necessary, get additional information from the support team.
The registration algorithm on the BingX cryptocurrency exchange is very simple. The whole process takes only a couple of minutes. It is worth noting that verification is optional on this platform. This means that the user will be able to deposit funds into the account and start trading even without identity verification. However, if a trader expects to earn large profits and plans to withdraw large sums, it is better to verify in advance. This will increase the available withdrawal limit from BingX.
On the BingX website, there is no information indicating that it restricts users from any particular country. Consequently, residents of all countries, except those under sanctions, are allowed to trade on the platform. This is particularly significant for traders from countries that are on sanction lists. In most cases, their ability to trade is limited. However, on the BingX site, they can register without identity verification and trade freely.
To use the services of the BingX cryptocurrency exchange, you need to complete a simple registration. It is performed once. After that, the trader will be able to authorize on the website or in the application of the cryptocurrency exchange using his data. It is extremely important to specify true information, because in the case of the need to withdraw a large amount of money, verification of identity may be requested. If the data were unreliable, it will not be possible to pass such confirmation. The registration procedure itself consists of the following steps:
To begin the registration procedure, you will need to click on the appropriate button. It is located in the upper right corner on the main page of the exchange's website.
Next, a small registration form will open in front of the user. In it he can choose how he wants to register - via e-mail address or by contact phone number. In the first case, he will need to enter his e-mail, think up and write a password, agree with the rules of use, after which the "Registration" button will become active. In the second case, the algorithm is similar, but the mobile number must be entered. Also at this stage, users can enter a referral code, if they have one. In this case, you can count on certain bonuses.
It is worth noting that there is another option of registration, which can be considered the easiest and fastest. This is using a Google account directly. To do this, you only need to click on the "Continue with Google" button, which is located at the bottom of the registration form.
To move to the next stage, you must additionally pass a simple captcha.
If the task is completed correctly, a window will open for the user to enter the verification code. This option is called "Verification", but it is not about confirming the identity - it is enough just to confirm the contact indicated during registration. If the user registered via e-mail, he/she will receive the code in an e-mail. If the registration was done via mobile number, the code will be sent by SMS.
After entering the confirmation code, the user will be redirected to the main page of the exchange's website. Then he can make changes to his personal data, deposit funds into his account, and trade. If a trader plans to withdraw large amounts of funds, he should go through the verification procedure in advance, as it may take some time. To do this, you need to click on the icon of your personal account in the upper right corner and select the "Personal Verification" section. To pass it, the user will need to provide a scan-copy of any identity document.
It is important to memorize or write down all the data used during registration. This will allow you to log in to your BingX account as quickly as possible.
BingX Exchange | Binance | HTX | |
---|---|---|---|
Minimum deposit | Depends on the selected currency - 1 USDT, 0.0002 BTC, 2 DOGE, etc. | $1 (for trading Spot 10) | $1 (for trading Spot 20) |
To open a Wallet, or wallet, on the BingX crypto exchange, it is necessary to click on the "Assets" button in the upper right corner of the main page of the site. On the screen, the user will be able to see the total amount of their funds, as well as their distribution across accounts such as:
The amount of assets is displayed in USDT by default. You can also select another option, which is BTC.
The exchange provides two options for depositing funds to the account or withdrawing them. The first is the ability to buy and sell coins. This method is suitable for those who want to use fiat funds. In this case, it is possible to buy or sell coins directly on the exchange or with the help of the P2P option. Users have the opportunity to perform bank transfers.
The second option is to deposit and withdraw coins directly. It is performed through the wallet, which has already been discussed above. In this case, you can use cold or hot cryptocurrency wallets, or personal accounts on other exchanges.
To replenish the deposit, you need to perform the following algorithm of actions:
1. Click on the "Deposit" button in the wallet.
2. Choose a cryptocurrency and one of the available networks.
3. Click on the option to obtain an address to transfer funds.
4. Use the address and wait for the assets to arrive.
If a trader is interested in how to withdraw money from BingX, he should use the "Withdraw" button. Clicking on it, the user will see a window with an electronic form. In it, it is necessary to specify: currency, suitable network, address for transfer, amount. Then it will remain only to confirm the action.
The interface and navigation on the BingX site will not cause difficulties even for a newcomer to the world of crypto trading. The resource is multi-lingual. More than 20 languages are available here, including English, German, Ukrainian, etc. Also, users can immediately select the currency of their country - it will display the equivalent of assets on the account. In addition to the main site, traders can also use the mobile version. If the user wants to download BingX, the application will be suitable for him. It is available for devices with different operating systems.
There are separate platforms for trading on the spot and futures markets. There is also an additional conversion option, with which you can instantly exchange one cryptocurrency for another without entering into short or long transactions. The trading pages provide charts to track market positions of interest. The data can be converted into a TradingView option for BingX, or a depth chart can be selected. Also on the platforms, users can view books of orders and trades, open and close offers, and view up-to-date information on a particular trading pair.
Within spot trading, it is possible to choose among several order options. In particular, we are talking about the following:
If a trader plans to work with futures trading, he should pay attention to such features as the possibility of making long and short trades, the availability of limit, market, trigger and trailing stop contracts. In addition, users have the opportunity to attract leverage. It reaches 150x for some trading pairs - in particular, for BTC/USDT.
Web version | Mobile version | Mobile apps | |
---|---|---|---|
Two-factor authentication | + | + | + |
Timeframe range | 1 minute - 1 month | 1 minute - 1 month | 1 minute - 1 month |
Types of orders | Market, limit, trigger, t-p/s-l | Market, limit, trigger, t-p/s-l | Market, limit, trigger, t-p/s-l |
Quotation history | + | + | + |
TradingView charts | + | + | + |
BingX Exchange | Binance | HTX | |
---|---|---|---|
Web platform | Yes | Yes | Yes |
Android | Yes | Yes | Yes |
iOS | Yes | Yes | Yes |
Desktop | No | Yes | No |
It is also worth noting that this cryptocurrency exchange provides an opportunity to use a demo account. It will suit those users who want to practice trading, but are not yet willing to register on the resource and use their personal funds.
It should also be noted that the exchange has pages in social networks and channels in various messengers, in which users can not only familiarize themselves with useful information, but also promptly receive news from the crypto exchange.
In the manual section, you can find explanations on almost all the functions and features of the BingX cryptocurrency exchange. Here you can read about the exchange itself, its commissions and trading features. There are also detailed instructions on how to buy and sell crypto using various tools. This is enough for a newcomer to the world of crypto trading to master its basics. However, you should not forget that for effective trading, it is important to regularly monitor the market, analyze currency pairs, etc.
The exchange offers several different ways of contacting the support team. If a user needs a prompt answer to a question he or she is interested in, it is best to use online chat or a feedback form. If it is necessary to provide some detailed information about the problem, the best option is to send an e-mail.
If a user wants to contact the support team via live chat, he/she will need to click on the corresponding icon in the lower right corner of the screen. This will bring up a dialog box where you can ask your question. It is worth noting that this option is also suitable for those who decide to leave a review about the BingX exchange.
To open the feedback form, you must first go to the "Support Service" section, which is located in the footer of the main page of the crypto exchange's website. After that, a field for entering a question will appear on the screen. Below, traders can see icons that will allow them to change their password, pass verification, etc. Also on this page there are sections with guidance, Q&As, and announcements.
You can find the e-mail address for sending a letter in the "About Us" section, which is also located in the footer. Additionally, here you can find contacts for business cooperation, media inquiries and applying for the partner program.
The BingX exchange's support team is multi-lingual. Having chosen the language of the resource interface, the user can contact support specialists using the same language. The available languages are English, German, Portuguese, etc.
The crypto exchange offers quite generous bonuses to its new users. By participating in such a bonus program, you can get up to 5,000 USDT. You will be able to earn them by performing certain tasks. You can count on the first reward immediately after registering on BingX. Clients can get the second one after making their first deposit. The next task is to conduct the first transaction. Other tasks and their conditions can be found in the "Rewards for Beginners" section, which is located in the top menu of the site.
One should not forget about the possibility of receiving prize payments. They are available to those users who actively trade and take leading places in the rating by trading volume. At the time of writing the review, the prize fund amounted to 300,000 USDT.
Summing up, it is worth noting that the BingX cryptocurrency exchange is a safe and reliable platform for trading, which is confirmed by the presence of official licenses, as well as 100% margin reserve. The cryptocurrency exchange will be especially attractive to residents of CIS countries, as it allows you to buy coins for different currencies, including rubles, through bank transfers. Also, BingX does not require mandatory verification. As for the range of trading instruments, there are quite a few of them. You can trade on both spot and futures markets, attracting more than 700 currency pairs.
Among other advantages, it is important to emphasize the possibility of making a deposit without commission, a loyal level of commission fees when trading, the availability of various ways to earn passive income, including copytrading. Another plus should be considered a bonus program, which allows new users to multiply their assets. Traders who focus on buying/selling derivatives can count on even more advantages - leverage up to 150x and the possibility of trading with fiat, securities, etc.
As for the disadvantages, there are few of them. Also, it can not be said that they are critical. For example, a user who has not been verified will not be able to withdraw large amounts of funds. However, if he confirms his identity, he will withdraw assets almost without restrictions. Another disadvantage is relatively high commissions when withdrawing a number of currencies. But if you look at the most popular coins, you can withdraw them on very favorable terms. All this means that the BingX exchange will prove to be convenient and promising for both beginners and experienced traders who aim at decent earnings.