BingX

BingX is a centralized crypto exchange that holds users' assets and runs order books for spot and derivatives trading. It built its name on social and copy trading, where users mirror the positions of other traders, and on perpetual futures. Its site carries a 2018 copyright start and the company describes an eight-year operating record; it says it has more than 40 million users worldwide.

The global platform is not run from Singapore, as older profiles said. BingX's Customer Agreement, updated on 2 September 2026, is a contract between the user and Nieve Cruz PA Corporation, a Panamanian company that BingX says was registered with the Public Registry of Panama on 11 March 2025. A second group company, StellarExchange Pty Ltd, gives operational support for fiat purchases but does not run the platform or hold users' assets. CFD and MetaTrader 5 services are provided by yet another company, Bingmex Limited, incorporated in Mauritius, under terms governed by Singapore law.

In Europe, BingX EU is MEGE zweite GmbH, based in Vienna. ESMA's register shows it was notified as authorised under MiCA by Austria's Financial Market Authority on 13 October 2026. BingX does not publish its owners, founders or group accounts.

Partly. The EU arm holds a MiCA authorisation from the Austrian FMA, recorded in ESMA's register for custody and administration of crypto-assets, exchange of crypto-assets for funds and for other crypto-assets, and transfer services, with passporting listed for 27 other EEA countries. BingX said on 14 October 2026 that BingX EU was preparing to launch its regulated services but gave no launch date. Operating a trading platform and executing orders are not among the listed services.

The global platform is different. BingX's page on Panama names Nieve Cruz PA Corporation and lists the services it may provide, from spot and perpetual futures to custodial wallets, but it names no Panamanian regulator or licence; the only authority mentioned is the company registry. Registration of a company is not a licence to run an exchange. The Customer Agreement is governed by Hong Kong law, with disputes decided by a sole arbitrator at the Hong Kong International Arbitration Centre.

In practice, a European customer of the global site and a customer of BingX EU have different counterparties and different protections. Check which entity your account is with before relying on the MiCA licence.

No. The Customer Agreement requires users to confirm they are not US or Canadian users, and BingX's Disclaimer lists restricted jurisdictions: Afghanistan, Burundi, Cambodia, Canada, the Central African Republic, Mainland China, Cuba, the Democratic Republic of the Congo, Hong Kong, Iran, Laos, Macau, Myanmar, the Netherlands, North Korea, Panama, Singapore, Somalia, the United Kingdom, the United States including its territories, and the Crimea, Donetsk and Luhansk regions of Ukraine. BingX says the list may change and may vary by service.

CFD services have a longer list, updated on 5 August 2026, that also excludes users in India, Indonesia, the UAE, Australia, New Zealand, Nigeria, South Africa and most large EU states, among others. The agreement also allows BingX to reject applicants whose identity documents come from certain digital-residency programmes, a list it keeps confidential. For US readers, our guide to which exchanges Americans can use covers venues that accept them.

BingX charges 0.1% maker and 0.1% taker on spot trades at the standard tier, though some pairs carry different rates. Perpetual futures cost 0.02% maker and 0.05% taker. Standard futures, a simplified contract product, charge 0.045% only when a position is closed. Deposits are free; withdrawal fees depend on the coin and network and are shown on the withdrawal page. VIP tiers lower the rates with 30-day volume.

Funding payments on perpetual futures are a separate cost that can outweigh the trading fee on positions held for days.

On 14 July 2026 we measured the all-in cost of a $10,000 market buy of bitcoin at 0.1032%, and 0.1061% at $100,000, with 109.4 BTC of depth within 0.1% of the best ask, one of the deepest books we recorded. The comparison with other venues is in how BingX compares with other crypto exchanges.

Copy trading is BingX's signature product: you allocate funds to follow a lead trader's futures or spot positions, and your account opens and closes trades in proportion. The risk is the trader's, multiplied by any leverage, and past returns shown on leaderboards are not a forecast. The Panama company's own list of services adds convert, wealth and yield products, API and trading tools, custodial wallets and fiat purchases through third-party providers. A pre-market for tokens before launch and, through Bingmex Limited, CFDs via MetaTrader 5 run under separate terms.

Separate terms also apply to BingX Mini, and the CFD service has its own, longer restricted-country list.

BingX publishes a proof-of-reserves page and says it releases a Merkle tree every month, which lets logged-in users check that their BTC, ETH or USDT balance is included. The page links attestation reports from Mazars and from Hacken (2025). The latest figures BingX has published, from a report dated 15 July 2026, put reserves at 142.82% of user balances for BTC, 126.48% for ETH, 131.83% for USDT and 124.41% for USDC. Those are company figures; the live page did not show a newer snapshot when checked. Our guide on how to check an exchange holds your money explains what such reports leave out.

BingX says it holds a $150 million Shield Fund. It has not published a wallet address for it, a breakdown of its assets or rules on who can claim and when. A fund that cannot be checked or claimed against under published rules gives users little to rely on; our article on what exchange insurance funds cover sets out what to look for.

On 20 September 2024 BingX detected abnormal access to a hot wallet. It paused withdrawals, described the losses as minor and said it would cover them; PeckShield estimated the loss at about $43 million, and later reports ranged as high as $52 million. BingX resumed withdrawals and announced a compensation plan, but we found no independent confirmation of what was paid.

BingX says it holds PCI DSS 4.0.1 and ISO/IEC 27001 certifications and uses multi-signature authorisation with tiered cold, warm and hot wallets. It publishes no audited financial statements.

BingX's agreement allows it to collect your name, contact details, government ID and date of birth, to keep records for five years after an account closes, and to restrict services if your information looks wrong or out of date. Each person may hold only one active account. Verification requirements depend on the product and the amount you move.

To leave, close futures and copy-trading positions, stop bots, redeem Earn products, then withdraw to a wallet you control on a supported network. Our guide to moving crypto off an exchange covers a test transfer and address checks before a large withdrawal.

BingX offers customer service through its help center and support tickets, and keeps a safety reminder page in its help center. Treat any message asking for passwords, verification codes or a transfer as an impersonation attempt. Many search results for BingX offer coupons, "free" bonuses and referral codes; these are marketing from affiliates, not official BingX channels, and any offer that asks you to send crypto first is a scam.

Dated milestones from BingX's documents and public records:

• 2018: earliest year in BingX's site copyright.
• 20 September 2024: hot-wallet hack, estimated at $43 million.
• 11 March 2025: Nieve Cruz PA Corporation registered in Panama.
• 29 July 2026: Trust Center launched, collecting reserves, the Shield Fund and certifications in one place.
• 2 September 2026: Customer Agreement updated naming the Panama company.
• 13 October 2026: BingX EU (MEGE zweite GmbH) notified as MiCA-authorised by the Austrian FMA.