Updated Rules checked 2026-10-13
BingX is an offshore exchange built mainly around futures and copy trading. Here is what its official pages and the public record show: regular users (VIP 0) pay 0.1% for both Maker and Taker on spot, and 0.02% Maker and 0.05% Taker on USDT perpetual futures, and there is no platform token for fee discounts. On 2024-09-20 its hot wallet was attacked. BingX said the platform would cover the loss in full but did not disclose the amount; the security firm PeckShield estimated it at about USD 43 million. The latest proof of reserves with a readable snapshot date is from 2026-07-15, with BTC, ETH and USDT reserve ratios all above 126%.
On restrictions, the BingX disclaimer (2023-12-11 version) excludes the United States, the United Kingdom, Canada, Hong Kong, Singapore and other regions; Taiwan is not on the list. As of the list updated by Taiwan’s Securities and Futures Bureau (SFB) on 2026-09-29, BingX is not on the anti-money laundering (AML) registration list of Taiwan’s Financial Supervisory Commission (FSC), and I could not find a New Taiwan dollar (TWD) deposit channel on its official pages. Below, following the questions people ask most, I bring together fees, rebates, proof of reserves, incident records, restricted countries and products, each with its source.
Key takeaways: BingX’s VIP 0 fees are 0.1%/0.1% on spot and 0.02%/0.05% on USDT perpetual futures, with no platform token discount (fee page, 2026-10-11). On 2024-09-20 a BingX hot wallet was attacked; the exchange said it would cover the loss in full and did not disclose the amount, while PeckShield estimated about USD 43 million. As of 2026-10-12 I found no major regulatory penalties. BingX’s latest proof of reserves with a readable date is the 2026-07-15 snapshot: BTC 142.82%, ETH 126.48%, USDT 131.83%. For public perpetual futures copy trading, the BingX profit share is 10% to 32% depending on the trader’s tier, charged only when the whole period ends in net profit and settled every Monday. As of the 2026-09-29 list, BingX is not on the FSC’s AML registration list, and Taiwan is not among the restricted regions in the BingX disclaimer.
The information below was compiled on 2026-10-13 (data check date) from official pages and this site’s verification records. The check date for each figure is given in the relevant section, and it is all provided for reference.
What are BingX’s fees?
| Market (VIP 0) | Maker | Taker | How it’s charged |
|---|---|---|---|
| Spot | 0.1% | 0.1% | Deducted from the coin you receive; a few pairs are fee-free |
| USDT perpetual futures | 0.02% | 0.05% | Based on position value, charged once on opening and once on closing |
| Standard futures | 0.045% | 0.045% | No Maker/Taker split, charged once on closing; the fill price also includes a spread |
The rates come from the BingX fee page and the BingX perpetual futures fee schedule; for standard futures, see the BingX standard futures fee FAQ. All were checked on 2026-10-11. Among the 13 exchanges this site covers, BingX’s 0.05% futures Taker fee is on the same level as Binance, OKX, Gate and Pionex, and lower than the 0.06% at Bitget, KuCoin, HTX and XT.
In dollar terms: with 300,000 USDT a month in perpetual futures volume, taking liquidity on every trade costs 300,000 × 0.05% = 150 USDT, and making liquidity on every trade costs 60 USDT; the same volume at an exchange with a 0.06% Taker fee costs 180 USDT. Open a 10x position with 1,000 USDT of margin and the position is 10,000 USDT; one round trip at the Taker rate costs 10 USDT, or 1% of your margin. A leveraged position may be force-liquidated if the market moves against it.
There aren’t many ways to lower the rate. BingX has no platform token discount. Holding 50,000 USDT in assets on the previous day moves you up to VIP 1, which brings the futures Taker fee down to 0.04%. The Elite tier added on 2026-06-26 requires 5 million USDT in 30-day futures volume and only lowers the Taker fee to 0.045%. The full VIP table and withdrawal fees are in the BingX fees guide, and you can estimate your own volume with the perpetual futures cost calculator.
How much does the BingX referral code rebate? Has the rebate changed?
BingX calculates referral rebates on the trading fees the invitee actually pays after discounts, and referral codes created after 2023-03-01 have no expiry (BingX rebate period announcement). Fees refunded by rebate vouchers, trades made with perpetual futures trial funds, and fee-free trading pairs do not generate rebates. You can add a referral code after sign-up as long as you haven’t deposited (including buying crypto) and haven’t invited any friends; it’s under “My Referrer” in your personal settings, and once bound it can’t be changed or removed (BingX account registration FAQ).
The automatic exchange rebate on this site’s BingX referral code is currently 45%. The chart and log below show how this rate has changed over time.
- 45% (tracking started)
Rates sync with the exchange daily; every change is recorded automatically.
For how to sign up, see the BingX referral code page. If you’ve already deposited and want to switch to a different referral code, BingX offers an identity transfer; the steps and trade-offs are in the BingX KYC transfer guide.
Does BingX have proof of reserves?
Yes. BingX states that it publishes a Merkle tree every month, and after logging in, users can use their Hash ID to confirm that their BTC, ETH and USDT were included.
| Item | BingX |
|---|---|
| Latest period with a readable snapshot date | 2026-07-15 |
| BTC/ETH/USDT reserve ratios | 142.82%/126.48%/131.83% |
| Update frequency (official wording) | Merkle tree published monthly |
| Third party | Page links Mazars and Hacken (2025) reports |
| Assets covered | BTC, ETH, USDT, USDC |
| Protection fund | Shield Fund, officially stated as over USD 150 million |
The 2026-07-15 figures come from a BingX press release (PR Newswire, 2026-07-30). For frequency and reports, see the BingX PoR page; for the protection fund, see BingX Shield Fund. The PoR page only shows figures after running JavaScript, and I couldn’t read them during the 2026-10-12 check. On 2026-10-11 the BingX security and trust page showed BTC 142.74%, ETH 121.93%, USDT 139.72% and USDC 122.41%, but the page doesn’t give a snapshot date.
From 2026-07-15 to the 2026-10-13 data check date is 90 days, and on that same day KuCoin and Bitget both had snapshots from the end of September available. A reserve ratio of 142.82% means that at the moment of the snapshot, for every 100 BTC users held, BingX’s wallets held about 142.82 BTC. It shows nothing about the company’s own borrowing and other liabilities, and nothing about what happened after the snapshot. For a comparison of all 13 exchanges, see exchange proof of reserves compared.
Has BingX had any security or withdrawal incidents?
- 2024-09-20: at about 04:00 (Singapore time), BingX detected abnormal network access and suspected an attack on its hot wallet. It moved assets right away and suspended withdrawals. BingX said the loss was “minor,” that it would cover it in full and that user assets were safe, but it did not disclose a final amount; PeckShield estimated about USD 43 million (The Block). BingX’s chief product officer said users would be compensated in full from the company’s own funds, and withdrawals were then restored in stages (Brave New Coin); I could not find the date when everything was fully restored.
- Regulation: under this site’s inclusion criteria (exchange announcements, major media, and judicial and regulatory announcements), I found no major penalties as of 2026-10-12.
Of the 13 exchanges this site covers, 7 have had platform wallets hacked, and BingX is one of them. Each exchange’s incidents and the number of days withdrawals were suspended are listed in exchange safety records. Fake customer support posing as BingX is common, so check the other party’s account with BingX Verify first; other tactics are covered in exchange scam types.
Which countries can’t use BingX?
Section 3 of the BingX disclaimer (updated 2023-12-11) states that BingX does not solicit or accept customers from the following regions: 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 all its territories and minor outlying islands), and the Crimea, Donetsk and Luhansk regions of Ukraine.
| 16 regions this site compares | BingX terms |
|---|---|
| United States, United Kingdom, Canada, Hong Kong, Singapore | Listed as not served |
| European Union | Only the Netherlands is listed |
| Japan, Malaysia, the Philippines, Thailand, India, South Korea, Mexico, Brazil, Vietnam, Indonesia | Not listed in the terms |
Not being listed in the terms doesn’t mean a country allows it; regulators in each country can separately block websites or remove apps. This disclaimer is the oldest version among the 13 exchanges, and it says itself that the list may change and may differ for each service. BingX is the only one of the 13 that lists Panama. For a side-by-side of every exchange, see exchange restricted countries.
What products does BingX offer?
- Futures: USDT perpetual futures, standard futures and coin-margined perpetual futures, plus TradFi perpetual futures and CFDs on stocks, stock indices, metals and forex. According to BingX, perpetual futures funding rates settle at 00:00, 08:00 and 16:00 (UTC+8); on 2026-10-12 the official API showed 479 of 1,197 USDT perpetual futures settling every 4 hours, about 40%. For how funding is calculated, see how funding rates work.
- Copy trading: copy trading on perpetual futures, standard futures, spot and CFDs, plus signal trading. For public perpetual futures copy trading, the profit share depends on the trader’s tier: Bronze 10%, Silver 16%, Gold 20%, Diamond 32%; private copy trading is 0–50% and spot copy trading is 10% (BingX copy trading parameters). The profit share is charged only when the whole period ends in net profit, using the formula “max[sum of net profit and loss of all positions in the period × profit share ratio, 0]” (BingX Futures Copy Trading 2.0 announcement).
- Trading bots: spot grid, spot infinity grid, futures grid and martingale (BingX trading bots). Spot VIP 0 is 0.1%, so each grid step needs a spacing above about 0.20% just to cover the fees on both sides; the math is in grid bot fees.
- Earn: flexible USDT pays 8.00% APR on the first 300 USDT and 1.00% on anything above that; fixed terms range from 3.20% for 7 days to 4.50% for 180 days (BingX Earn, snapshot of 2026-10-13). There are also principal-protected products, dual investment, crypto loans and more.
- Convert and P2P: Convert charges a 0% fee, with the cost built into BingX’s quoted rate; BingX P2P says it is currently in a promotional period with no fees for buyers or sellers.
The 8.00% flexible rate only applies to the first 300 USDT. Put in 10,000 USDT and calculate across the whole amount: 300 × 8% + 9,700 × 1% = 121 USDT, about 1.21% a year. Above 1,500 USDT, the overall annual rate falls below Binance’s flat 2.40%. For a comparison of 13 exchanges, see USDT flexible savings rates compared; for how copy trading costs add up, see the cost of copy trading.
What should Taiwan users know about BingX?
- FSC registration: as of the 2026-09-29 update of the SFB’s “businesses and persons providing virtual asset services” list, BingX is not on the FSC’s AML registration list. When the FSC commented on the FTX collapse, it noted that offshore trading platforms fall outside the dispute mechanisms of the Securities and Futures Investors Protection Center (SFIPC) and the Financial Ombudsman Institution (FOI), so account disputes can only be handled under the platform’s own terms.
- TWD deposits and withdrawals: I could not find a TWD deposit channel on the official pages, and when this site checked, it couldn’t confirm whether P2P has TWD ads. The common route is to buy USDT with TWD on MAX or BitoPro and then transfer it to BingX; withdrawals go the other way.
- Transfer networks: BingX doesn’t support Avalanche C-Chain for USDT, so transfers in from MAX should use BEP20 or Polygon (MAX withdrawal fee 0.02 USDT). Going back from BingX, the cheapest route to MAX is Aptos at 0.01 USDT, the cheapest to BitoPro is BEP20 at 0.15 USDT, and TRC20 costs 1.5 USDT (2026-10-12). Transfer back 24 times a year and TRC20 costs 36 USDT, while Aptos costs 0.24 USDT. Fees for each network are in USDT withdrawal fees compared.
- Identity verification: BingX has only two levels, unverified and advanced KYC. Unverified accounts can’t deposit, trade or use fiat services, but can still withdraw 20,000 USDT per 24 hours; advanced KYC allows 5,000,000 USDT (BingX KYC levels). Each user may hold only one active account.
- Official channels: the official domain is bingx.com, and the developer on both the Taiwan App Store and Google Play is BingX Group Limited (checked 2026-10-15). You can check URLs, emails and social media accounts with BingX Verify. Impersonation tactics are covered in crypto exchange scam types.
Who is BingX a good fit for?
- People who mainly trade perpetual futures and often use market orders: the Taker fee is 0.05%, so 300,000 USDT a month costs 30 USDT less than at an exchange charging 0.06% Taker.
- People who want to copy trade: there are many copy trading types, and the profit share is only charged on net profit. But Diamond traders take 32%, and traders who trade in and out often may also generate fees that exceed the profit share.
- People who want simpler futures: standard futures charge 0.045% only once, so a 10,000 USDT round trip costs 4.5 USDT. The fill price includes a spread, though, so check the estimated fill price on the order page.
- People who mainly trade spot: BingX spot is 0.1% with no platform token discount; Bitget and KuCoin, also at 0.1%, go down to 0.08% with the platform token discount turned on.
- People putting small amounts into Earn: the first 300 USDT earns 8.00%, and the larger the amount, the closer the overall annual rate gets to 1.00%.
FAQ
Is BingX safe?
No exchange can guarantee safety; what you can look at is the record. BingX had its hot wallet hacked once, on 2024-09-20, and said it would cover the loss in full; as of 2026-10-12 I found no major regulatory penalties. On reserves, the latest period with a readable date is the 2026-07-15 snapshot, with BTC 142.82%, ETH 126.48% and USDT 131.83%, about two and a half months older than the end-of-September snapshots from KuCoin and Bitget.
Is BingX a scam?
BingX itself is not a scam; it is an exchange in actual operation: the official site is bingx.com, and its user agreement, updated 2026-09-02, states that the contracting party is Nieve Cruz PA Corporation (BingX user agreement); when its hot wallet was hacked in 2024, BingX said the platform would cover the loss in full. What people online call a “BingX scam” is usually a fake website, fake app, fake customer support or fake investment group using BingX’s name. The usual demands are to add someone on LINE, to transfer USDT to a “platform” outside the exchange, or to pay an “unfreezing fee” or “security deposit” before you can withdraw. Suspicious URLs, emails or social media accounts can be checked with BingX Verify. Not being a scam doesn’t mean there’s no risk: BingX is not on the FSC’s AML registration list, and any dispute can only be handled under the platform’s terms. Impersonation tactics are covered in crypto exchange scam types, and rebate-related scams in rebate scam warning signs.
Has BingX been hacked? Did users lose money?
Yes, its hot wallet was attacked on 2024-09-20. BingX said user assets were safe and that the platform would cover the loss in full; PeckShield estimated about USD 43 million. Withdrawals were suspended at the time and then restored in stages. That is how it was handled in the past, and it doesn’t mean future incidents will be handled the same way.
Could BingX go bust?
There’s no way to tell from public data whether an exchange will collapse. Proof of reserves only shows that, at the moment of the snapshot, the user assets included in the calculation were matched by at least the same amount of coins; it doesn’t include the company’s own liabilities. BingX’s Shield Fund is stated as over USD 150 million, funded by BingX itself. To lower your risk, spread your holdings across places and move coins you won’t trade for a long time to a wallet you control yourself.
Can people in Taiwan use BingX?
Taiwan is not among the restricted regions in the BingX disclaimer (2023-12-11 version), and the website and help center are also available in Traditional Chinese. However, as of the 2026-09-29 list, BingX is not on the FSC’s AML registration list, and disputes are not covered by Taiwan’s SFIPC or FOI.
Can I withdraw from BingX to a bank account in Taiwan?
I could not find a TWD withdrawal channel on the official pages. The usual approach is to transfer USDT to MAX or BitoPro, sell it for TWD there and then withdraw to your bank. From BingX to MAX, Aptos costs 0.01 USDT and TRC20 costs 1.5 USDT (2026-10-12).
Are BingX fees lower than other exchanges?
Its futures Taker fee is on the low side of average, while spot is ordinary. BingX’s perpetual futures Taker fee of 0.05% is lower than the 0.06% at Bitget, KuCoin, HTX and XT, and higher than MEXC’s 0.02%; spot is 0.1%, with no platform token discount. For the ranking of all 13, see exchanges with the lowest fees.
Can I add a BingX referral code after signing up?
Yes, with conditions: only if you haven’t deposited (including buying crypto) and haven’t invited any friends since signing up can you add it under “My Referrer,” and once bound it can’t be changed or removed. If you’ve already deposited, your only option is an identity transfer; each exchange’s rules for adding a code later are in can you add a referral code after signing up.
To sign up directly, see the BingX referral code page. Fee details are in the BingX fees guide, and switching referral codes is covered in the BingX KYC transfer guide. To compare with another exchange, see BingX vs Bitget; referral codes and rebates for all 13 exchanges are collected in crypto exchange referral codes.