This article will thoroughly explain the virtual currency exchange, BingX’s copy trading, campaigns, fees, reviews, reputation, and evaluation. It is a new virtual currency exchange that started its service in 2018, and its major strengths are that it has many currency pairs and relatively low transaction fees. It can be said to be a highly recommended exchange for virtual currency traders as it has a wide range of luxurious bonuses and campaigns.
Basic information and safety of BingX
BingX is an exchange that was established in Hong Kong in 2018 and has a long history of operation. In addition to spot trading, it also supports margin trading and copy trading, meeting the needs of users. Currently, it ranks 26th in CoinMarketCap’s derivatives exchange rankings and is attracting attention from investors around the world. This exchange has a particularly strong influence mainly in Asia. The number of categories will continue to increase and the service will become more complete.
| Operating company | Bingbon International Finance Limited |
| Establishment | 2018 |
| location | Hong Kong |
| Virtual currency handling | 500～ |
| Max Leverage | 150x |
| management system | multi signature cold wallet two-factor authentication Login notification email |
| transaction fees | Maker：0.02% / Taker：0.04% |
| Transaction form | Spot trading/margin trading/copy orders |
| URL | BingX |
Holds financial license
The biggest feature of BingX is that it has obtained four financial licenses, all of which undergo strict screening, so it can be said to be a highly reliable exchange. We currently have licenses in the United States, Canada, Australia, and Lithuania, and our trading volume is very large. However, it is not registered with the Financial Services Agency of Japan and other countries, so use it at your own risk.
| FinCEN | United States |
| FINTRAC | Canada |
| AUSTRAC | Australia |
| FSIC | Lithuania |
Managed with multisig cold wallet
BingX has introduced multi-signature and manages virtual currency wallets using multiple private keys. Recently, there have been many hacking incidents at virtual currency exchanges, but we are protecting them from risks. Almost all customer funds are managed in cold wallets that are isolated from the network, making it extremely safe.
Two-factor authentication can be set
BingX allows you to set up three types of two-factor authentication. E-mail authentication, mobile phone SMS authentication, and Google authentication (Google Authenticator) have been introduced to provide strong security measures. Google Authenticator is the most recommended and is an easy to set up two-factor authentication app for iOS and Android. We have strict KYC, so you can rest assured that you can manage risks.
Zero cut adopted
BingX uses a zero-cut system and does not require margin calls. Traders have no risk of incurring any debt. The zero cut system is a mechanism in which when a loss exceeds the account balance, the exchange side will bear the loss in excess of the balance. By using an overseas exchange with a zero cut, you can prevent the risk of losing more than your own funds.
About the features of BingX
I will explain the features of BingX in detail. Spread fluctuations are stable and the number of transactions is large. Once registration is complete, people can increase security inside depending on their level. Do it when you have time. The number of new people in the market is increasing and by doing this, you will be able to participate as a VIP. The content allows you to plan your strategy and place orders while watching the screen in real time.
App/Trading Platform
The app/trading platform is compatible with either mobile app or web. The app is very complete and covers everything from stock watch to advanced chart analysis and trading. The trading environment is comfortable and it also supports trading with MetaTrader 5 (MT5). MetaQuotes’ trading platform “MetaTrader 5” also supports automatic trading using indicators, chart analysis tools, and EA.
Copy trading function
BingX has a copy trading function. Even beginners with little knowledge of derivatives trading can copy first-class trading techniques. Users who copy the tactics of professionals are called “followers,” and a portion of the profits earned by followers through copy trading is returned to professional traders as an incentive, up to a maximum of 8% of their profits. .
Trading of various products
BingX supports both spot and derivatives trading, with a wide variety of 579 types of spot cryptocurrencies and 174 types of derivatives. FX currency pairs, stocks, stock indices, and commodities are also handled as CFD products, and can be traded using virtual currencies as capital. In addition, you can also invest in NFTs, which are attracting a lot of attention around the world. Not only Bitcoin, Ripple, and Ethereum, but also altcoins have been added, making it a complete collection. You also have access to Forex and can click and trade without restrictions.
You can stake
BingX offers staking services that automatically earn interest when you deposit virtual currency. This service officially supports 5 brands. Flexible plans that can be redeemed at any time and locked plans from 7 to 90 days are available. We handle BTC, ETH, USDT, USDC, and BNB. There are no other offers.
Transaction fees are very low
BingX charges transaction fees for spot and futures trading. When I verified it, it was relatively cheap at Maker: 0.02% / Taker: 0.04%. A taker is someone who takes orders on the order board, and a maker is someone who places new orders on the order board. You can trade on the market while viewing the data indefinitely.
Enhanced customer support
Another point is the excellent customer support. We are available 24 hours a day, 365 days a year, and our responses are very fast. Support is available via email or live chat. Companies always have guides, terms of use, policies, etc. that you can understand and use.
Leverage up to 150x
BingX’s leverage is up to 150x, which means you can trade positions up to 150x your funds. Even when compared to other exchanges, BingX has quite high leverage. However, maximum leverage varies depending on the type of trade and each stock.
| Max Leverage | |
| BTC | 150 |
| Eth | 125 |
| XRP | 100 |
| ADA | 75 |
| LTC | 100 |
| BCH | 100 |
| DOGE | 75 |
| LINK | 75 |
| SOL | 100 |
About deposits and withdrawals
We will explain about deposits and withdrawals. You can also create sub-accounts and operate multiple accounts. It can be said to be a reliable exchange in the industry. There are a lot of options, and you can easily deposit money using your preferred method.
Deposit and fees
BingX deposit fees are basically free. We support P2P, virtual currency deposits, and credit card payment methods. However, please note that when purchasing virtual currency with a credit card, a fee of 5% to 10% will be added to the original exchange rate. Basically, reflection is related to transaction processing, but it is convenient because it can be completed in a few minutes to a few hours.
Withdrawals and fees
A summary of withdrawal methods supports several virtual currencies. Usually, there is a withdrawal fee for remittance using blockchain. The same withdrawal fees vary depending on the currency, so be sure to check carefully. In total, it corresponds to the following: It is a good idea to use them differently depending on the purpose.
| USDT | 0.8〜3.5 USDT |
| BTC | 0.00001〜0.00035 BTC |
| ETH | 0.0001〜0.001 ETH |
| XRP | 0.2〜0.24 XRP |
| EOS | 0.081 EOS |
| DOGE | 4〜7 DOGE |
| BNB | 0.0005 BNB |
There are bonuses and campaigns
With BingX, you can receive a $100 welcome bonus and discount just by opening a new trading account. There are also limited-time promotions and campaigns held frequently, which are highly recommended. The latest information is updated sequentially on the official website. Earn bonuses at events. There are many valid bonuses that you can get, so this is your chance. Therefore, please make sure to apply carefully.
What do the actual reviews look like?
What do the actual reviews look like? We will introduce information by quoting from Traders Union, the world’s leading review site. It can be seen that the main users are Venezuela, Russia, Argentina, India, Mexico, Iran, etc. around the world. The company also has media accounts such as external SNS (Twitter), so check the posts and news of the company. There is also a separate community, so check it out using the smartphone app.
Source : TradersUnion
When it comes to the number of assets on the BingX exchange, there are plenty. However, most trading is done with major cryptocurrencies such as Ethereum, XRP, and BTC. Unfortunately, trading volumes for other assets may be small. It all depends on traders’ interest in a particular asset. The BingX trading platform works decently, although there are occasional glitches. Sometimes, when placing an order, the system may kick out the client, requiring them to reconnect using their login and password.
Source : TradersUnion
The BingX exchange blocks user accounts without reason! It’s been almost 50 days since I lost access to my account on the exchange. No one has responded to my tickets during this time. I’ve been sending requests to the BingX support team every day. But I only received one response, saying that my query is under review! BingX exchange is a scam!
Source : TradersUnion
Don’t expect BingX exchange to help you make a profit. I couldn’t earn even a single dollar, and all the money I transferred to my BingX account was lost. I won’t claim that I violated the trading system or exceeded my trading risks. I have been involved in cryptocurrency trading for several years and am familiar with all the principles. With confidence, I can say that BingX exchange only allows you to lose money.
Source : TradersUnion
Be cautious when dealing with the BingX exchange. I believe that even researching reviews about this platform won’t help understand the essence of the exchange. This is because the exchange dedicates a lot of time to creating a positive rating. In reality, most of the positive reviews about the BingX exchange are either written by exchange employees, or these reviews were commissioned. It closely resembles a fraudulent structure that fabricates a positive reputation for itself.
Source : TradersUnion
BingX is a completely normal exchange. As anywhere else, the platform hangs here, especially when there is strong movement in the cryptocurrency market. In such situations, only limit orders work for me; it is impossible to open orders according to the market. BingX has plenty of cryptocurrency markets. I withdraw only to Bitcoin and Ether wallets, withdrawals come quickly.
Source : TradersUnion
You can open an account for free
Opening an account is free. If you have either your email address or phone number, you can easily set up a password. You can participate by selecting from the official website below. You can trade futures and cash on the website. Let’s experience it while using the content. It’s very simple to use.
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