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BingX Review: A Deep Dive Into the Crypto Exchange in 2024

12 mins
Updated by Maria Petrova
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BingX has climbed the ranks to become one of the top cryptocurrency exchanges in the world in 2024. The expansive platform offers a wide range of trading pairs and advanced features for beginners and experienced traders. This BingX review dives deep into the platform’s offerings, telling you everything you need to know about its products, features, fees, and future roadmap.

What is BingX?

“BingX is a crypto exchange. We are a reward first social trading [app]. That is our major product.”

Vivien Lin, Chief Product Officer: TOKEN2049

BingX is a CEX and trading platform founded in 2018. The platform offers various products and services, including spot, derivatives, copy trading, and asset management. As per CoinMarketCap’s rankings, it is one of the top 20 spot trading exchanges in 2024. The platform is ranked 18th based on traffic, liquidity, trading volumes, and confidence in the legitimacy of its trading volume reporting.

The well-trusted exchange has a number of associations with sports stars and works with Chelsea Football Club, an English professional football club based in Fulham, West London, as well as two UFC champions.

BingX has over 780+ coins available and more than 840 markets or trading pairs. At the end of 2023, BingX had processed 600M copy trading orders.

BingX’s peak daily trading volume is $12b, while the platform counts over 10 million users worldwide. The platform offers services in many countries and regions in almost 20 different languages.

bingx review coinmarketcapTop exchanges by volume: CoinMarketCap

BingX Review: Features and tools

BingX offers users an array of products and features. A number of these are unique, setting the exchange apart from other centralized platforms.

Buy crypto

BingX provides three methods for purchasing cryptocurrency with fiat currencies: peer-to-peer trading (P2P), Quick Buy, and bank deposit.

Quick Buy

Quick Buy is a straightforward offering. The feature allows users to buy USDT, BTC, or ETH with over 70 different fiat currencies. BingX uses P2P merchants to facilitate Quick Buy transactions.


While BingX is good for buying crypto outright, the platform’s most powerful offerings lie in its trading features. With advanced charting tools, real-time market data, and customizable trading strategies, BingX provides users with the tools they need to execute successful trades.

trading interface

Additionally, the platform offers a wide range of trading pairs, competitive fees, and trading products, making it a popular choice for beginners and experienced traders. Some of these are:

  • Spot trading: Involves buying or selling financial instruments such as stocks, commodities, or currencies at their current market price, with transactions settled “on the spot.”
  • Derivatives: Financial contracts whose value is derived from the performance of an underlying asset, index, or interest rate. Common types include futures, options, and swaps.
  • Copy trading: A trading strategy that allows investors to copy the trades of experienced and successful traders automatically in their own accounts.
  • Grid trading: A quantitative trading strategy that automatically buys and sells assets within a pre-determined price range, capturing profit from market volatility.


BingX offers two types of futures: Standard Futures and Perpetuals. Standard Futures is a special BingX product that is highly user-friendly, supports Fast Order, and allows users to get started with minimal funds. Perpetual Futures are standard industry products. The futures are further broken down into two categories:

  1. USDT-M (USDT-Margined): These are futures contracts margined and settled in Tether (USDT), a stablecoin that is pegged to the U.S. dollar. Traders use USDT as collateral for trading, and all profits and losses are also settled in USDT.
  2. COIN-M (Coin-Margined): These futures contracts are margined and settled in crypto, such as Bitcoin (BTC), Ethereum (ETH), etc. This means traders use the actual cryptocurrency as collateral, and profits and losses are also realized in that cryptocurrency.

Spot trading

As stated previously, users can access more than 750 cryptocurrencies and more than 840 markets or trading pairs. The spot trading feature allows you to convert crypto and swap tokens on multiple altchains.

Copy trading

The BingX copy trading feature allows users to access the trades of elite traders globally. As of 2024, BingX is responsible for connecting more than 8 million copy relationships. This feature provides you with a simple dashboard for futures and spot trading. It breaks down the traders into categories, such as Trending Traders, Conservative Traders, and Rising Stars. You can even find a section on user’s comments for further insight.

copy trading

Grid trading

Grid trading is a form of algorithmic trading that uses bots to automatically place buy and sell orders. These trading bots do not predict market directions but instead seek to profit from the natural movement of the market going up or down. BingX offers three different types of grid trading strategies: Spot Grid, Futures Grid, and Infinity Grid.

Spot gridFutures gridInfinity grid
PositionOpens positions automatically without using leverage; the investment is fully backed by the marginOffers leverage up to 20x to increase potential returnsEstablish a price range and number of grids to execute buy-low and sell-high tactics
Type of gridGeometric gridGeometric gridArithmetic grid
Trading strategyDetermines a price range and leverage setting to optimize buy-low, sell-high strategies in futuresEstablishes a price range and number of grids to execute buy-low and sell-high tacticsDefines the profit for each grid to implement strategies that capitalize on buying low and selling high

Users can also create their own personalized grid trading strategies. BingX offers tutorials on this process while giving you an easy-to-navigate interface for managing your bots and history. This ensures the offering is accessible for those starting out with grid trading.

grid trading

P2P trading

BingX P2P is a user-friendly fiat currency trading platform. It enables direct and convenient fiat-to-crypto transactions between users and merchants.

P2P trading is available to users worldwide, includes fund escrow during transactions, and is extremely flexible. It mediates user transactions and provides a platform for buyers and sellers to publish ads.

bingx p2p

When a seller’s ad is published, the appropriate amount of cryptocurrency is automatically deducted from the seller’s fund account. The cryptocurrency is frozen for the duration of the transaction unless the order is canceled.


On the BingX website, you will notice a “Wealth” tab. Wealth is an asset management service that houses the platform’s earning features. BingX has primarily two earning products, Shark Fin and Simple Earn.

bingx wealth

Shark Fin: Shark Fin is a financial product from BingX that guarantees the initial investment (principal), meaning you won’t lose the initial amount you put in. This product allows you to earn interest by predicting whether the market for certain cryptocurrencies (like Bitcoin or Ethereum) will go up or down. Users’ deposits in Shark Fin can also be used as margin for futures trading.

Simple Earn: You can deposit your idle funds in exchange for stable returns. This service offers fixed and flexible terms and does not charge any fees for subscription or redemption. Simple Earn offers more than 50 cryptocurrencies from which you can earn interest.

Fiat deposit

bingx fiat deposit

BingX does not allow users to natively deposit fiat directly onto the exchange. In 2024, fiat deposit services are provided by SulPayments and Legend Trading.

Rewards Hub

bingx rewards hub

The BingX Rewards Hub is essentially a platform designed to incentivize and reward users for their engagement and trading activities. Users can earn various rewards by participating in daily check-ins, completing trading tasks, and engaging in social media activities. The Rewards Hub offers various types of rewards in return for user’s participation. These include:

  • Mystery boxes: These contain a variety of rewards, including bonuses, rebate vouchers, and trial funds.
  • Bonuses: These can be used as margin in futures trading. While the bonuses cannot be withdrawn, any profits generated from using them can be withdrawn.
  • Rebate vouchers: These are applicable for trading fee rebates. The rebate is issued after the transaction is completed, allowing users to enjoy reduced trading fees.
  • Trial funds: These can be used as margin when opening positions as well as to offset funding fees and losses.

BingX Academy

BingX Academy is an extensive educational platform designed to simplify the crypto trading journey for both beginners and experienced traders. It offers a wide array of resources, including articles, videos, tutorials, and guides that cover various topics within crypto, such as the metaverse, web3, DeFi, and more.

Users can efficiently find specific topics using the search function or explore trending and new content through the designated tabs in the Academy. Additionally, BingX maintains a blog that keeps users updated with the latest news, trends, and updates about the crypto industry and the platform’s own developments.

This blend of trading information and industry knowledge ensures users of all levels can deepen their understanding of the crypto market and enhance their trading skills.

How to sign up for BingX

Here’s a quick insight into the steps required to sign up for the BingX crypto exchange. Remember to only ever click official links in order to avoid scams.

1. Navigate to BingX: Go to the BingX website. You will notice a few tabs at the top of the screen. Navigate to the top right corner and look for the blue oval button that says “Sign Up.” Press the button to continue.

bingx review step 1

2. Choose a registration method: On the “Get Started” page, you will notice multiple options to create an account. You can register via email, phone, or sign in with Google. For our demonstration, we will sign up using email.

bingx review step 2

3. Pass security verification: Once you register with an email, you will receive a PIN code. Open your email, search for an email from BingX, and enter the six-digit one-time pin (OTP) you receive on the following page.

bingx review step 3

4. Explore your account: Once you have entered the one-time code, you will be redirected to your personal account. From here, you can explore your account, set up enhanced security measures, or use KYC to increase your account limits.

bingx review step 4

BingX review: A deep dive into the platform’s fees

One of the most important considerations of any exchange review is to consider the trading fees. BingX levies fees for conversion, withdrawals, standard futures trading, perpetual futures trading, and spot trading. Naturally, the fees vary for each type of product on BingX.

Spot trading

BingX fees for spot trading are in alignment with industry standards and are 0.1% for both the maker and taker fees. The fee will be charged on the asset that the trader chooses to receive. For example, if the trader trades BTC/USDT, the fee will be charged in BTC and deducted from the total amount of BTC received by the trader.

However, the platform also offers a regressive tiered fee schedule. In other words, the higher your 30-day trading volume, the lower your spot trading fees. For VIP members, trading fees can be as low as 0.005% maker and 0.02% taker.

bingx spot fees

Derivatives trading

BingX offers derivatives in the form of futures. There are two types of futures trading on BingX: Standard futures and Perpetuals trading. Perpetual Futures trading will incur 0.02% maker and 0.05% taker fees. Standard Futures incur a 0.045% trading fee.

derivatives trading fees

BingX’s Standard Futures trading fees are influenced by several factors. Firstly, accounts or traders with large positions, those engaged in high-frequency trading, or those with multiple trading accounts may experience adjusted fees based on their specific trading activities.

Secondly, in the case of copy trading, the fee structure changes based on the total trading volume. This includes both the trader’s and copiers’ pending volumes and held positions. Standard Futures trading fees are only collected when closing a position. It is also important to note that futures trading has a regressive tiered fee rate.

futures fees

Deposit and withdrawal fees

BingX deposit and withdrawal fees vary widely based on the cryptocurrency. The platform does not charge deposit fees. Customers should also remain aware of the minimum deposit requirement.

deposits and withdrawals

If your deposit does not meet the minimum requirement, it will not be credited. Users pay a flat fee for each withdrawal. Withdrawal fees are determined by the network of the crypto you want to withdraw from and can fluctuate due to congestion and other factors.

BingX also charges a 0.2% conversion fee. This fee applies to traders who deposit funds in a currency other than their BingX account currency and need to convert them. For example, if a trader deposits Euros into a U.S. dollar account, the euros will be converted to U.S. dollars and charged a 0.2% fee.

BingX review: Customer experience

BingX has a few primary forms of communication for customers to use for any problems or concerns. These include live customer support (powered by Zendesk), educational guides, and a Help Center with the most frequently asked questions and problems.

Overall, customers tend to either report feeling very satisfied or being altogether displeased with the BingX service (as is often the polarizing nature of reviews). Some of the poor reviews cite problems interacting with products and features, while the positive reports praise the customer experience and range of offerings.

In terms of BeInCrypto’s experience, our product teams tested the crypto exchange for a number of weeks. We found no issues with its features, and the customer service was deemed satisfactory. In particular, our product teams were impressed by the extensive educational resources and range of trading tools on offer. The live customer support garnered useful responses and clarifications, and our inquiries were replied to quickly and efficiently.

Roadmap and future expansion

Crypto Trader global expansion

BingX has achieved a number of significant milestones in the six years since its launch. In 2022, the company surpassed 5 million users worldwide, and in 2023, the user base grew by over 350%. On May 20, 2024, during its anniversary celebration, BingX announced its ambitious global expansion strategy, “ExpansionX,” buoyed by a 13 million USDT prize pool.

The “ExpansionX” strategy focuses on growth in new markets, localizing services, forming strategic partnerships, innovating the platform, ensuring regulatory compliance, and engaging with local communities to promote cryptocurrency adoption. Here’s what is on the horizon:

USDC-margined futures trading

Guided by a user-centric philosophy, BingX is committed to continually improving its products and services. BingX is set to introduce USDC-margined futures trading to improve capital efficiency and expand the range of assets used as trading margins, alongside updates in coin-margined futures trading.

Launchpad and Launchpool for token sales

BingX will introduce a Launchpad and Launchpool in spot trading, encouraging participation in token sales and access to high-quality, vetted projects. Additionally, the platform will offer loan services, allowing users to pledge tokens for collateralized loans at competitive rates.

BingX plans to expand its offerings to include dual currency notes, accumulators/decumulators, and snowball products, providing diverse investment options.

Expanding reach and fostering strategic partnerships

2024 will witness significant expansion, particularly in countries including Turkey, Vietnam, and Argentina. The focus is on localization, with dedicated teams identifying brand design products and campaigns tailored for regional markets.

Raising awareness and social responsibility

BingX is dedicated to social responsibility. The platform stands out in its active support of charitable causes, disaster relief efforts, environmental conservation, and community projects worldwide.

In 2022, a $10 million BingX charity fund was launched. It quickly sprung into action, donating 3 million Taiwanese Dollars to assist with earthquake relief in Taiwan. In 2023, the fund donated 1 million Lira to support earthquake relief efforts in Turkey.

In the latter half of 2024, the team plans to strengthen community contributions. In collaboration with Whale and Dolphin Conservation and a renowned video platform, BingX is producing a documentary to raise awareness about the cruelty of captivity and promote animal protection.

Overall, BingX’s roadmap reflects its steadfast commitment to growth, innovation, and social responsibility. With clear goals and strategic initiatives set in place, the company is on a promising path toward global success.

BingX review: Pros and cons

The following section simplifies and outlines some of the many unique features that have seen the platform climb the ranks among big-name peers, as well as some features with room for improvement.

Some of the lowest fees and simple fee structureCustomer service could be further improved as per online reviews
Global accessibility, supporting almost 20 languagesLimited products compared to larger competitors
Wide selection of crypto, offering more than 780 coins/tokens and more than 840 markets
Additional features like grid and copy trading
Earn features through the Wealth platform and Rewards Hub

A comprehensive global trading platform

BingX has earned its spot as one of the top global crypto exchanges. The platform offers a number of industry-standard features and rates as well as some extra products that enhance user experience. With big plans to expand its offerings and brand, BingX is just getting started. Particularly noteworthy are the platform’s demonstrable commitment to corporate social responsibility, user-centric design, and low trading fees.

If you’re considering using BingX, remember that cryptocurrency investments are highly volatile and risky. You can lose money, so it’s crucial to carefully consider your investment goals before getting involved.

Frequently asked questions

What is BingX?

When was BingX founded?

What can you trade on BingX? 

Can I use BingX in the U.S.?

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Ryan Glenn
Ryan Glenn is a journalist, writer, and author. Ryan is motivated to educate as many people as possible on the benefits of web3 and cryptocurrency. He has authored “The Best Book for Learning Cryptocurrency,” and runs an educational platform,, dedicated to demystifying the crypto space. Ryan built the platform to transition tech-savvy and non-tech individuals into crypto and give everyone a baseline understanding of the different fields in the cryptosphere. Ryan is also an...