Updated Rules checked 2026-10-21
Binance or BingX? For regular users (VIP 0), the two charge the same fees: spot is 0.1% for both Maker and Taker, and USDT perpetual futures are Maker 0.02% and Taker 0.05% on both. The differences are how you lower your rate and how long the rebate lasts. Binance lets you pay fees with BNB for 25% off spot and 10% off futures; BingX has no platform token, but 50,000 USDT in assets on the previous day gets you VIP 1, which lowers futures Taker to 0.04%. On referral code rebates, Binance’s futures rebate usually lasts only 12 months, while BingX states that referral codes created after 2023-03-01 have no time limit.
Scale and transparency are Binance’s strengths. Binance publishes a reserve snapshot on the 1st of every month, and the 2026-10-01 snapshot showed users holding 688,572.68 BTC; the latest BingX snapshot with a readable date is 2026-07-15, and it doesn’t give the number of user BTC. Both have had hot wallets hacked: 7,000 BTC was stolen from Binance on 2019-05-07 and covered in full by its SAFU fund; BingX’s hot wallet was attacked on 2024-09-20, the security firm PeckShield estimated the loss at about 43 million USD, and BingX said it would cover it in full. Binance also pleaded guilty in the United States in 2023, with settlements totaling about 4.3 billion USD.
If you’re happy to hold BNB, care about reserve transparency, or want more kinds of trading bots, choose Binance. If you have 50,000 USDT or more in your account and often trade futures with market orders, or plan to trade futures long term and want a rebate that doesn’t expire, BingX works out cheaper; and if you want to copy traders on standard futures, only BingX offers that. Neither exchange lists Taiwan among its restricted regions, and neither offers a direct way to deposit New Taiwan dollars (TWD).
Sign up to Binance with referral code KEVINWU and the exchange automatically refunds 20%, on both spot (including margin) and USDT-margined futures.
Sign up to BingX with referral code KEVINWU and the exchange automatically refunds 45% of the fees you actually pay, on both spot and futures.
Key points:
1. Same VIP 0 rates: spot is 0.1% / 0.1% on both, and USDT perpetual futures are 0.02% / 0.05% on both.
2. With the BNB discount on, Binance charges 0.075% on spot and 0.045% futures Taker; BingX has no platform token, and after reaching VIP 1 with 50,000 USDT in assets on the previous day, futures Taker is 0.04% and spot Taker 0.06%.
3. Rebate duration: Binance futures usually 12 months, and it stops at VIP 3 or above; BingX referral codes created after 2023-03-01 have no time limit.
4. Fixing a missing code: on Binance, you can bind a code yourself within 30 days of sign-up if you haven’t deposited or traded; on BingX, you can add one if you haven’t deposited or invited any friends, and if you’ve already deposited, you can use “Identity Transfer” to move your KYC to a new account.
5. Sending USDT from Binance to BingX over BEP20 costs 0.01 USDT, and the other direction over Aptos also costs 0.01 USDT (2026-10-21).
The data below was checked against official pages on 2026-10-21 (data check date) and is provided for reference.
How do Binance and BingX differ?
| Item | Binance | BingX |
|---|---|---|
| Spot Maker / Taker (VIP 0) | 0.1% / 0.1% | 0.1% / 0.1%; a few pairs are fee-free |
| USDT perpetual futures Maker / Taker (VIP 0) | 0.02% / 0.05% | 0.02% / 0.05%, the same on all 996 contracts |
| Platform-token discount | BNB: 25% off spot (0.075%), 10% off USDT-margined futures (0.018% / 0.045%) | No platform-token discount |
| Reaching VIP 1 through account assets | Requires holding 5 BNB first, plus 100,000 USD in assets or a trading volume requirement; VIP 1 only lowers Maker (spot 0.09%, futures 0.018%) | 50,000 USDT in assets on the previous day; futures 0.014% / 0.04%, spot 0.035% / 0.06% |
| Referral code rebate | 20% | 45% |
| Rebate duration and VIP limit | No term stated for spot; futures 12 months (no limit if the referrer’s futures commission is 30% or more); stops at VIP 3 or above | No time limit for referral codes created after 2023-03-01; nothing official says it stops after a VIP upgrade |
| Adding a referral code after sign-up | Within 30 days of sign-up, with no deposits or trades and no referrer, you can bind one yourself | If you haven’t deposited (including buying crypto) or invited any friends, you can add one under “My Referrer” |
| Switching referrers | Not possible if you already have a referrer; with no referrer and a trading history, an affiliate can start a switch request | Can’t be changed; “Identity Transfer” moves your Advanced KYC to an account registered with a new referral code, and you can’t transfer again for 180 days afterward |
| Identity verification requirement | New users must complete “Verified” verification before depositing and trading; one person can have only one verified main account | Only two levels, unverified and Advanced KYC; each user may hold only one active account |
| Unverified accounts | Older accounts that haven’t verified are limited to withdrawals, order cancellation, closing positions and redemptions | Can’t deposit or trade; can withdraw 20,000 USDT per 24 hours |
| Restricted regions (Taiwan) | The prohibited countries list dated 2026-01-05 doesn’t include Taiwan | The disclaimer dated 2023-12-11 doesn’t list Taiwan |
| TWD deposit options | No TWD bank deposits; P2P has a TWD option, but on 2026-10-21 there were 0 USDT buy and sell ads | No TWD deposit found on official pages; we couldn’t confirm whether P2P has TWD ads at the time of checking |
| Tradable spot coins | 512 (1,382 pairs) | 625 (648 pairs) |
| USDT perpetual futures | 522 crypto contracts, plus 220 TradFi perpetuals (stocks, commodities and more) | 996, of which 441 are TradFi contracts such as stocks, forex and commodities |
| Maximum BTC futures leverage | 150x (positions up to 300,000 USDT); up to 20x for the first 30 days after opening a futures account | 150x (positions up to 300,000 USDT) |
| Crypto futures settling funding every 4 hours | 418 of 522 (80%) | 443 of 555 (80%) |
| Copy trading | Futures copy trading, spot copy trading | Perpetual futures, standard futures and spot copy trading, plus signal trading |
| Copy trading profit share | Futures up to 30%, settled from a snapshot every Monday at 08:00 | Perpetual futures 10%, 16%, 20% or 32% by trader level, private copy trading 0–50%; settled every Monday |
| Trading bots | Spot grid, futures grid, DCA, rebalancing, TWAP, arbitrage | Spot grid, infinity grid, futures grid, martingale |
| Cheapest USDT withdrawal network and fee | BEP20 0.01 USDT (minimum 5); ERC20 0.6, TRC20 1.5 | Aptos 0.01 USDT (minimum 5); BEP20 0.15, ERC20 1, TRC20 1.5 |
| Proof of reserves (latest snapshot) | 2026-10-01: BTC 100.35%, ETH 100.00%, USDT 103.88% | 2026-07-15: BTC 142.82%, ETH 126.48%, USDT 131.83% |
| Protection fund | SAFU 15,000 BTC | Shield Fund, stated officially as over 150 million USD, self-funded by BingX |
| Major security incidents | 7,000 BTC stolen from a hot wallet on 2019-05-07, covered in full by SAFU | Hot wallet attacked on 2024-09-20; PeckShield estimated about 43 million USD, and BingX said it would cover the loss in full |
| Legal and regulatory record | Pleaded guilty in the United States on 2023-11-21, with settlements totaling about 4.3 billion USD | No major penalties found as of 2026-10-12 |
Sources and dates: fees come from the Binance spot fee page, the Binance futures fee page (2026-10-21), Binance’s guide to BNB fee discounts, the BingX fee page (2026-10-21) and the BingX perpetual futures fee schedule; BingX’s VIP 1 asset threshold and futures rates are on the BingX VIP page (threshold checked 2026-10-11, rates checked 2026-10-21). Spot coins, contract counts, per-contract fees and funding settings come from both exchanges’ official public APIs, read on 2026-10-21 (Binance spot, Binance USDT-margined futures, Binance funding rate settings, BingX spot, BingX contract details, BingX funding rates); we counted items that were trading, and the numbers change as listings are added or removed. BingX’s TradFi contracts were counted by the NC prefix in the symbol. Leverage caps are data read on 2026-10-17. USDT withdrawal fees were read on 2026-10-21 from the Binance deposit and withdrawal fee page and the BingX deposit and withdrawal fee page. Sources for the other rows are given in the matching sections below.
How much do Binance and BingX fees differ?
Suppose someone trades 200,000 USDT of USDT perpetual futures and 20,000 USDT of spot a month, all at the official rates. VIP 0 is the same on both, so the table adds two ways of lowering the rate: Binance with the BNB discount on, and BingX at VIP 1 through account assets.
| Monthly fees (USDT) | Binance | Binance (BNB discount on) | BingX | BingX (VIP 1) |
|---|---|---|---|---|
| Futures 200,000, all Taker | 100 | 90 | 100 | 80 |
| Spot 20,000, all Taker | 20 | 15 | 20 | 12 |
| Total (all Taker) | 120 | 105 | 120 | 92 |
| Total (all switched to Maker) | 60 | 51 | 60 | 35 |
Sources and dates: both exchanges’ official fee pages (see the previous section), checked 2026-10-21; with the BNB discount, Binance charges 0.018% / 0.045% on futures and 0.075% on spot, and BingX VIP 1 is 0.014% / 0.04% on futures and 0.035% / 0.06% on spot.
The formula is trade value times the fee rate: futures 200,000 × 0.05% = 100 USDT and spot 20,000 × 0.1% = 20 USDT, so at VIP 0 both cost 120 USDT a month. With BNB, Binance drops to 105 USDT; at VIP 1, BingX drops to 92 USDT, and the gap is wider with limit orders, 51 vs 35 USDT. In other words, if you have 50,000 USDT in your account, BingX’s rates are lower than Binance’s even with the BNB discount.
The VIP thresholds are very different. Since 2026-07-21, Binance VIP 1 requires holding 5 BNB first, plus one of the following: 1 million USD in 30-day spot volume, 5 million USD in futures volume, or 100,000 USD in assets (Binance VIP program update announcement), and VIP 1 doesn’t lower Taker on either spot or futures, only Maker. BingX only needs 50,000 USDT in assets on the previous day; if you’re already a VIP on another exchange, you can also upload proof to apply for a VIP+2 trial, once per person, for 30 days (BingX VIP page). The BNB discount has no threshold, but you have to hold BNB and carry its price risk yourself.
Both exchanges let you place Maker-only orders, and both call it “Maker Only” (Post Only); the system cancels any order that would fill immediately. Details are in Maker vs Taker fees. Futures fees are charged on position value, not margin. Leverage enlarges the position, and if the price moves against you, the position may be forcibly liquidated and you lose your margin.
How big a BingX rebate does it take to match Binance?
A referral code rebate refunds part of the fees you actually paid. At VIP 0, futures Taker is 0.05% on both, and Binance can add the BNB discount on top of a referral code rebate. For BingX to cost the same as Binance, its rebate has to reach the thresholds below:
| Binance futures Taker used for comparison | Binance net cost | BingX (VIP 0) rebate needed (at least) |
|---|---|---|
| No BNB, no rebate | 0.05% | 0% (the same on both) |
| BNB discount on, no rebate | 0.045% | 10% |
| No BNB, rebate at the official cap of 20% | 0.04% | 20% |
Sources and dates: calculated from both exchanges’ official VIP 0 futures Taker rates, 2026-10-21; the formula is 1 − Binance net cost ÷ 0.05%, for example 1 − 0.045 ÷ 0.05 = 10%.
The official cap on Binance’s invitee rebate is 20%: for spot and margin it’s stated in Binance Affiliate Program basics, and futures have also been capped at 20% since 2025-10-25 (Binance Referral Pro update announcement). The third row only applies during the first 12 months of Binance’s futures rebate; once the futures account is a year old, the futures rebate stops unless the referrer’s futures commission rate is 30% or more, and the thresholds go back to the first two rows. At VIP 1, BingX’s Taker is 0.04%, which matches the third row without any rebate.
The two calculators below both use the official futures Taker rate of 0.05%, with rebate rates synced from the exchange. Enter the 200,000 USDT from the example above in each to see which is cheaper after the rebate.
Calculator: Binance futures (Taker 0.05%)
| Monthly volume | Fees (0.05%) | Auto rebate (20%) | Net fees |
|---|---|---|---|
| 10,000 USDT | 5 USDT | 1 USDT | 4 USDT |
| 100,000 USDT | 50 USDT | 10 USDT | 40 USDT |
| 1,000,000 USDT | 500 USDT | 100 USDT | 400 USDT |
Example at a futures fee rate of 0.05% and the current 20% automatic rebate (rate updated 2026-10-23). Your exchange statement prevails.
Sign up with this site’s Binance referral code and the exchange’s automatic rebate is 20%, on both spot (including margin) and USDT-margined futures. Binance doesn’t state officially whether the rebate is calculated on fees before or after the BNB discount.
Calculator: BingX futures (Taker 0.05%)
| Monthly volume | Fees (0.05%) | Auto rebate (45%) | Net fees |
|---|---|---|---|
| 10,000 USDT | 5 USDT | 2.25 USDT | 2.75 USDT |
| 100,000 USDT | 50 USDT | 22.5 USDT | 27.5 USDT |
| 1,000,000 USDT | 500 USDT | 225 USDT | 275 USDT |
Example at a futures fee rate of 0.05% and the current 45% automatic rebate (rate updated 2026-10-23). Your exchange statement prevails.
Sign up with this site’s BingX referral code and the exchange’s automatic rebate is 45%, calculated on the fees you actually pay after discounts; at VIP 1 the rate is lower, so the base for the rebate shrinks too. Fees refunded by rebate vouchers and trades made with trial funds don’t count.
Full fee schedules, VIP tables and withdrawal fees are in Binance fees and BingX fees; how futures costs are calculated is in how futures fees are calculated, and you can run your own numbers in the perpetual futures cost calculator.
How do Binance and BingX futures rules differ?
The two list a similar number of crypto futures (Binance 522, BingX 555), and their BTC leverage caps and funding schedules are close. The differences are in limits on new accounts, maintenance margin and what happens after liquidation:
| Item | Binance | BingX |
|---|---|---|
| Maximum BTC leverage | 150x (positions up to 300,000 USDT), dropping to 100x from 300,000 to 800,000 | 150x (positions up to 300,000 USDT), dropping to 125x from 300,000 to 7.5 million |
| Maximum ETH leverage | 150x | 150x |
| Other high-leverage contracts | XRP and SOL 100x | SOL and DOGE 300x in tier 1 |
| Leverage limit on new accounts | Up to 20x for the first 30 days after opening a futures account (from 2025-12-07) | Not mentioned in the official futures tutorials |
| BTC tier 1 maintenance margin rate | 0.40% | 0.1% |
| Funding settlement on crypto futures | 418 every 4 hours, 103 every 8 hours, 1 every hour | 443 every 4 hours, 99 every 8 hours, 13 every hour |
| Funding rate caps | BTC ±0.3%; 502 contracts at ±2% | BTC ±0.3%; 462 contracts at ±2% |
| When liquidated | A separate liquidation clearance fee: 1.25% for BTC and ETH, 1.5%–2.5% for others; bankrupt positions are taken over by the insurance fund | Taken over at the bankruptcy price, and the position’s entire margin is lost; gains and losses are absorbed by the risk reserve |
| When the fund falls short | Auto-deleveraging (ADL) | Auto-deleveraging (ADL) |
| Simplified futures | None | Standard futures: a single 0.045% charge when you close, with a spread built into the fill price |
Sources and dates: Binance’s leverage tiers come from the Binance leverage and margin page (2026-10-17), the limit on new accounts is in Binance’s guide to USDT-margined futures leverage and margin, the liquidation clearance fee is on the Binance futures trading rules page (2026-10-17), and the insurance fund is described in Binance’s introduction to the futures insurance fund; BingX’s leverage tiers and maintenance margin rates come from the BingX position and leverage page (2026-10-17), liquidation rules follow the BingX forced liquidation rules and the BingX dual-price liquidation explainer, and standard futures are covered in the BingX standard futures fee FAQ. Funding settings were read from both exchanges’ official APIs on 2026-10-21.
BingX uses two prices to decide on liquidation: a position is liquidated only when both the mark price and the last traded price reach the estimated liquidation price, and it isn’t liquidated if only one of them does. On Binance, new accounts should note the 20x cap for the first 30 days, and every contract defaults to cross margin; if you want isolated margin, switch before your first order. The difference is explained in cross vs isolated margin. Leverage enlarges the position, and if the price moves against you, the position may be forcibly liquidated and you lose your margin; you can estimate the liquidation price with the liquidation price calculator.
Funding is paid between longs and shorts; the platform doesn’t collect it, and it earns no rebate. On both exchanges, about 80% of crypto futures settle funding every 4 hours, so the same 0.01% rate is paid 6 times a day: holding a 10,000 USDT position for 3 days costs 18 USDT in funding, more than the 10 USDT of Taker fees to open and close it. On contracts capped at ±2%, a 10,000 USDT position pays 200 USDT in a single settlement when the cap is hit. How funding works is in what is the funding rate, and each exchange’s activation steps and take-profit/stop-loss settings are in the Binance futures guide and the BingX futures guide.
How do Binance and BingX referral code rebate rules differ?
On both, the exchange pays the rebate directly to the invitee. The differences are the duration, the VIP limit, and how you fix a missing or wrong referral code afterward:
| Rule | Binance | BingX |
|---|---|---|
| Calculation basis | Net fees (after market maker rebates) | Trading fees the invitee actually pays after discounts |
| Markets covered | Spot (including margin) and USDT-margined futures | Spot and futures |
| Duration | No term stated for spot; futures 12 months from opening a futures account (no such limit if the referrer’s futures commission rate is 30% or more) | No time limit for referral codes created after 2023-03-01 |
| VIP limit | Stops at VIP 3 or above, resumes after dropping back to VIP 2 or below | Nothing official says it stops after a VIP upgrade |
| Payout | Converted to USDC every hour and paid to your spot account within 6 hours | The referrer’s commission is paid between 0:00 and 3:00 (UTC+8) the next day; when the invitee’s cashback is credited isn’t stated separately |
| What earns no rebate | Zero-fee pairs; funding | Zero-fee pairs, fees refunded by rebate vouchers, and perpetual futures trades made with trial funds; funding |
| Do copy trading fees count toward the rebate? | Officially stated that they count toward referral commission | Not stated officially |
| Adding a referral code later | Within 30 days of sign-up, with no deposits or trades, no referrer, and identity details not used on another account in the past 180 days, you can add one on the binding page | If you haven’t deposited (including buying crypto) or invited any friends, you can add one under “My Referrer” |
| Changing referrers | Not possible if you already have a referrer; with no referrer and a trading history, an affiliate can start a switch request (trading volume under 5,000 USD in the 90 days before submission, and reaching 150,000 USD within 30 days after) | Can’t be changed; “Identity Transfer” can move your Advanced KYC to an unverified account registered with a new referral code |
| Checking the binding | Referral Pro page | “My Referrer” in personal settings |
Sources and dates: Binance rules come from the Binance Referral Pro FAQ, the Binance affiliate referrer switch FAQ and the Binance futures copy trading FAQ (checked 2026-10-18); BingX rules come from the BingX rebate duration announcement, the BingX partner center guide, the BingX account settings FAQ and the BingX identity verification transfer explainer (checked 2026-10-21).
For futures traders, the biggest difference is the duration. Binance’s futures rebate usually lasts only 12 months and also stops at VIP 3 or above; BingX referral codes created after 2023-03-01 have no time limit. By the threshold table in the previous section, once Binance’s futures rebate stops in the second year, a BingX rebate of just 10% matches Binance’s 0.045% with BNB. For spot, Binance states no term.
The two take different routes to fixing a missing referral code. If you’ve just signed up and haven’t deposited, Binance gives you 30 days; BingX doesn’t state a number of days, and the conditions are that you haven’t deposited (including buying crypto) and haven’t invited any friends. If you’ve already deposited or traded: on Binance, only accounts with no referrer can switch, the request has to come from the new affiliate, and there’s a trading volume condition; on BingX, you can register a new account with a new referral code without doing KYC, then transfer the Advanced KYC from the old account to it. The cost: the old account goes back to unverified, can’t buy spot or open new positions, its withdrawal limit drops to the unverified level, and neither account can transfer again for 180 days. Details are in the Binance referral code rebinding guide, the BingX KYC transfer guide and how to check whether your referral code is bound; for choosing between fee vouchers and rebates, see fee vouchers vs referral code rebates.
Do Binance and BingX require identity verification? What should users in Taiwan know?
Identity verification: both require verification before you can deposit and trade. New Binance users must complete “Verified” verification, older accounts that haven’t verified are limited to withdrawals, order cancellation, closing positions and redemptions, and one person can have only one verified main account (Binance identity verification guide). 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); BingX’s account compliance guide also states that each user may hold only one active account. Steps are in the Binance KYC identity verification guide and the BingX identity verification guide.
Restricted regions: Taiwan isn’t on Binance’s list of prohibited countries (updated 2026-01-05), nor among the regions not accepted in the BingX disclaimer (updated 2023-12-11). Both restrict the United States, Canada and the Netherlands; Binance also states that US citizens living abroad can’t use it, and the regions BingX doesn’t accept also include the United Kingdom, Hong Kong, Macau, Singapore, mainland China and Panama, among others. BingX’s document is one of the older versions among exchange terms; if you travel often or hold residency abroad, check exchange restricted countries first.
TWD deposits and withdrawals: neither exchange offers a direct New Taiwan dollar bank deposit. When we checked the Binance P2P TWD market on 2026-10-21, there were 0 USDT buy orders and 0 sell orders; whether BingX P2P has TWD ads couldn’t be confirmed when we checked on 2026-10-11. The workable route is the same for both: buy USDT with TWD on a local platform in Taiwan (such as MAX or BitoPro), then send it to the exchange, and reverse the steps to cash out. Sending USDT back to a local platform costs 0.01 USDT from Binance over BEP20, and from BingX the cheapest route to MAX is Aptos, also 0.01 USDT (2026-10-21). Fees for each network are in the USDT withdrawal fee comparison.
App: when we checked on 2026-10-21, both apps were available on the Taiwan App Store. The developer of the Binance app is Binance Switzerland AG, the developer of the BingX app is BingX Group Limited, and both interfaces are available in Traditional Chinese.
What is each of Binance and BingX good at?
Binance‘s strengths are scale, its platform token and product range. BNB discounts both spot and futures fees; it has more kinds of trading bots than BingX; and besides 522 crypto perpetual futures, its official API on 2026-10-21 also listed 220 TradFi perpetuals on stocks, commodities and more.
- Copy trading: futures and spot copy trading. The futures profit share is up to 30%, based on a snapshot of total PnL every Monday at 08:00; only the portion not already shared is charged, with a minimum of 10 USDT. Lead traders also get 10% of their copiers’ trading fees (Binance lead trader benefits).
- Trading bots: spot grid, futures grid, DCA, rebalancing, TWAP and arbitrage (Binance trading bots).
- Earn and on-chain: in Simple Earn data read on 2026-10-17, USDT flexible savings paid a base APR of about 2.40%, with an extra 4% on the first 500 USDT (Simple Earn); there’s also Launchpool, Launchpad and Binance Wallet.
BingX‘s strength is the range of copy trading. Besides perpetual futures, it offers standard futures copy trading and spot copy trading, and profit share is only charged when the whole period ends in net profit; standard futures simplify fees into a single 0.045% charge when you close. It also lists more spot coins: 625 in the official API on 2026-10-21, against Binance’s 512.
- Copy trading: public perpetual futures copy trading pays traders by level, Bronze 10%, Silver 16%, Gold 20% and Diamond 32%, private copy trading 0–50%, settled every Monday between 00:00 and 00:15 (UTC+8); spot copy trading is 10%, and standard futures copy trading 8%–13% (BingX copy trading parameters). The profit share formula is “max(total net PnL of all positions in the period × profit share ratio, 0)”, and the net PnL of each position already has trading fees deducted (BingX Futures Copy Trading 2.0 announcement).
- Trading bots: spot grid, spot infinity grid, futures grid and martingale (BingX trading bots).
- Earn and more: USDT flexible savings pay 8.00% APR on the first 300 USDT and 1.00% above that (snapshot of 2026-10-13, BingX Earn); there are also TradFi perpetual futures on stocks, forex and commodities, plus demo trading.
The cost of copy trading includes fees too. Copying a trader who makes 40 round trips a month with 1,000 USDT at 5x leverage, all as Taker, costs 5,000 × 0.05% × 2 × 40 = 200 USDT in fees on either exchange; the differences are profit share and rebates. Binance states that copy trading fees count toward referral commission, and BingX doesn’t say; BingX states that profit share is calculated on net profit after fees. The full calculation is in the cost of copy trading; before choosing a trader, read how to spot copy trading scams. How grids work is in what is grid trading, and since earn rates are all variable, compare exchanges in USDT flexible savings rates compared.
How do Binance and BingX compare on proof of reserves and security?
Both publish proof of reserves and both offer a tool for users to confirm that their own account is included:
- Binance: snapshots at 00:00 (UTC) on the 1st of every month, verified with zk-SNARKs. When we checked on 2026-10-21, the latest was 2026-10-01: BTC 100.35%, ETH 100.00%, USDT 103.88%, with users holding 688,572.68 BTC (Binance proof of reserves page).
- BingX: the latest snapshot with a readable date is 2026-07-15: BTC 142.82%, ETH 126.48%, USDT 131.83% (BingX press release, PR Newswire, 2026-07-30). The BingX reserves page says it publishes a Merkle tree every month, with reports from Mazars and Hacken (2025); the figures on the page only appear after JavaScript runs, and we couldn’t read them when we checked on 2026-10-21.
A high reserve ratio doesn’t mean large scale: BingX’s BTC reserve ratio is higher than Binance’s, but it doesn’t publish the number of user BTC, and by 2026-10-21 its snapshot was already 98 days old. Binance sits close to 100%, with little buffer, but it updates every month without fail. The major incidents for both:
- Binance hack on 2019-05-07: hackers obtained a large number of users’ API keys and 2FA codes and withdrew 7,000 BTC from the BTC hot wallet. Binance announced that its SAFU fund would cover the loss in full, and deposits and withdrawals were suspended during the security review (Binance security incident announcement).
- BingX hot wallet attack on 2024-09-20: at about 04:00 (Singapore time), BingX detected abnormal network access, moved assets and suspended withdrawals. BingX said the loss was “a small amount”, that it would cover it in full and that user assets were safe, but it didn’t publish a final figure; PeckShield estimated about 43 million USD (The Block). BingX’s Chief Product Officer said it would compensate users in full from its own funds, and withdrawals were then restored in stages (Brave New Coin).
- Binance guilty plea on 2023-11-21: Binance pleaded guilty in the United States, with settlements with the Department of Justice, the Treasury and the CFTC totaling about 4.3 billion USD, and founder Changpeng Zhao (CZ) stepped down as CEO (US Department of Justice case page). This was a compliance case, not a loss of user assets. Other regulatory records include two warnings for operating without registration from Japan’s Financial Services Agency (FSA), on 2018-03-23 and 2021-06-25 (Japan FSA), and the Philippines blocking Binance in 2024 (Decrypt).
- BingX regulatory record: under this site’s inclusion criteria (exchange announcements, major media, and announcements from judicial and regulatory authorities), no major penalties were found as of 2026-10-12.
On protection funds, Binance converted SAFU into 15,000 BTC on 2026-02-12 and said it would top it back up to 1 billion USD if its value fell below 800 million USD (The Block); BingX’s Shield Fund is stated officially as over 150 million USD, self-funded by BingX (BingX Shield Fund). Proof of reserves only reflects assets at the moment of the snapshot and isn’t deposit insurance; coins you don’t plan to trade for a long time can be moved to a wallet you control yourself. For the records of 13 exchanges side by side, see exchange security records and exchange proof of reserves compared; the full data for each exchange is in the Binance review and the BingX review.
What to watch for when moving from Binance to BingX (or the other way)
Switching platforms means opening a new account on the other exchange and moving your assets over. We suggest this order:
- Register the new account first, entering the referral code on the sign-up page. If you’re moving to Binance and miss it, you still have 30 days to bind one yourself as long as you haven’t deposited or traded; if you’re moving to BingX, you can add one any time before you deposit or invite any friends.
- Complete identity verification on the new account; both require it before you can deposit and trade.
- On the old account, close positions, cancel orders, redeem Earn products, stop copy trading and bots, transfer funds from the futures account back to the spot or funding account, and then withdraw USDT.
- The first time you send to a new address, send a small amount to confirm it arrives, then send the larger amount.
Moving funds between the two means an on-chain withdrawal, charged as a fixed fee per withdrawal by the exchange you’re sending from. The table shows the 9 networks both exchanges supported on 2026-10-21, in USDT; each cell reads “fee (minimum withdrawal)”:
| Network | Withdrawing from Binance to BingX | Withdrawing from BingX to Binance |
|---|---|---|
| BEP20 (BNB Smart Chain) | 0.01 (minimum 5) | 0.15 (minimum 3) |
| Aptos | 0.1 (minimum 3) | 0.01 (minimum 5) |
| TON (Memo required) | 0.3 (minimum 3) | 0.017 (minimum 5) |
| Polygon | 0.03 (minimum 5) | 0.8 (minimum 10) |
| Optimism | 0.04 (minimum 3) | 1 (minimum 1.1) |
| Arbitrum One | 0.3 (minimum 3) | 0.5 (minimum 0.5) |
| Solana | 0.3 (minimum 5) | 1 (minimum 1) |
| ERC20 | 0.6 (minimum 3) | 1 (minimum 5) |
| TRC20 | 1.5 (minimum 5) | 1.5 (minimum 1.5) |
Sources and dates: read on 2026-10-21 from the Binance deposit and withdrawal fee page and the BingX deposit and withdrawal fee page. On Binance, deposits and withdrawals were open on all 9 networks that day; on BingX we only confirmed the withdrawal side, so before sending from Binance, check that BingX’s deposit page offers the same network. BingX states that withdrawal fees adjust in real time with on-chain gas fees (BingX fee schedule explainer), so go by the amount shown on the withdrawal page before you confirm.
The cheapest network differs by direction: from Binance, use BEP20 at 0.01 USDT; from BingX, use Aptos, also 0.01 USDT. A round trip with 1,000 USDT, BEP20 out and Aptos back, costs 0.02 USDT in total, while TRC20 both ways costs 3 USDT. If you want the same network in both directions, Aptos is cheapest (0.11 USDT in total). Pick a network that matches on both sides; choosing the wrong one may mean losing your funds permanently (Binance withdrawal fee guide). Referral code rebates only refund trading fees, not withdrawal fees. Full fees for every network across 13 exchanges are in the USDT withdrawal fee comparison.
Who are Binance and BingX best for?
- Beginners who mainly buy major coins on spot: choose Binance. VIP 0 spot is 0.1% on both; Binance drops to 0.075% with the BNB discount, while BingX only drops to 0.06% once you reach VIP 1 with 50,000 USDT in assets. Binance publishes reserves every month on a fixed schedule, and if you miss the referral code, you can still bind one yourself within 30 days as long as you haven’t deposited.
- Futures traders who often use market orders and have 50,000 USDT or more in their account: choose BingX. VIP 1 futures Taker is 0.04%, lower than Binance’s 0.045% with BNB; on 200,000 USDT of futures a month, you pay 80 USDT at BingX VIP 1 and 90 USDT on Binance with BNB. Binance VIP 1 requires holding 5 BNB plus 100,000 USD in assets, and Taker doesn’t go down.
- Long-term futures traders: BingX has the edge. Binance’s futures rebate usually stops after 12 months, while BingX referral codes have no time limit; from the second year on, a BingX rebate of 10% or more is cheaper than Binance’s 0.045% with BNB.
- Copy traders: if you want to copy standard futures, or want profit share charged only on net profit after fees, choose BingX; if you want copy trading fees to count toward your referral rebate, choose Binance, which states officially that they count. Futures copy trading fees are the same on both: 1,000 USDT at 5x with 40 round trips a month costs 200 USDT either way.
- Users who care about scale, reserve transparency and protection funds: choose Binance. Users hold 688,572.68 BTC there, snapshots come out on the 1st of every month, and SAFU holds 15,000 BTC; BingX’s latest snapshot is 2026-07-15 and doesn’t give the number of user BTC.
- Already signed up and deposited, but never entered a referral code: on BingX you can fix it yourself, using “Identity Transfer” to move your KYC to a new account registered with a referral code; on Binance, the account must have “no referrer”, an affiliate has to start the switch, and there’s a trading volume condition.
Plenty of people open both: spot, the BNB discount and bots on Binance, and copy trading or futures with larger balances on BingX, which also spreads the risk of a single platform suspending withdrawals. To move USDT between them, use BEP20 when sending from Binance and Aptos when sending from BingX.
How we checked the data in this article
VIP 0 rates, BingX VIP rates, Binance VIP thresholds, reserve snapshots, P2P ad counts and app availability are what the official pages showed on 2026-10-21; spot coins, contract counts, funding settings and USDT withdrawal fees are figures read from official pages and public APIs on 2026-10-21; BingX’s VIP 1 asset threshold is data from 2026-10-11, and both exchanges’ leverage tiers and Binance’s liquidation clearance fee are data from 2026-10-17; referral code and rebinding rules were checked against the official help centers on 2026-10-18 (Binance) and 2026-10-21 (BingX); earn rates are snapshots from 2026-10-13 and 2026-10-17; incidents were cross-checked against official announcements, press releases from judicial authorities and news reports. How this site compiles its data is explained in how we compile rebate data, and referral link disclosures are in referral and rebate disclosure.
FAQ
Which has lower fees, Binance or BingX?
At VIP 0 they’re the same: spot is 0.1% / 0.1% on both, and USDT perpetual futures are Maker 0.02% and Taker 0.05% on both. The difference only appears once you lower your rate: with the BNB discount, Binance charges 0.075% on spot and 0.045% futures Taker; BingX VIP 1, reached with 50,000 USDT in assets on the previous day, charges 0.04% futures Taker and 0.06% spot Taker. With 200,000 USDT of futures plus 20,000 USDT of spot a month, all as Taker, you pay 105 USDT on Binance with BNB and 92 USDT at BingX VIP 1.
Can I use Binance and BingX at the same time?
Yes. Binance and BingX are different companies, so you just register and complete identity verification on each. The limits apply within each exchange: on Binance one person can have only one verified main account, and on BingX each user may hold only one active account. Enter the referral code when you register on each; sending USDT from Binance to BingX over BEP20 costs 0.01 USDT, and the other direction over Aptos also costs 0.01 USDT (2026-10-21).
Should users in Taiwan choose Binance or BingX?
The conditions for using them in Taiwan are similar, so the choice comes down to how you trade: choose Binance if you mainly use spot, the BNB discount and bots, and BingX if you mainly trade futures with 50,000 USDT or more in assets or use copy trading. Neither restricted-regions list includes Taiwan, both apps are on the Taiwan App Store, and neither offers TWD deposits. On both, you deposit by first buying USDT with TWD on a local platform in Taiwan and sending it over; to send it back, Binance uses BEP20 and BingX uses Aptos, both at 0.01 USDT.
Which is safer, Binance or BingX?
Neither can be called absolutely safe. Both have had hot wallets hacked, and both said the platform would cover the loss. Binance lost 7,000 BTC on 2019-05-07, covered in full by SAFU; BingX’s hot wallet was attacked on 2024-09-20, PeckShield estimated about 43 million USD, and BingX said it would cover the loss in full. On reserves, Binance’s 2026-10-01 snapshot showed BTC at 100.35%, it publishes monthly, and SAFU holds 15,000 BTC; BingX’s 2026-07-15 snapshot showed BTC at 142.82%, but the data is older. Binance also has a compliance record: a guilty plea in the United States in 2023 with settlements of about 4.3 billion USD.
Which gives a bigger referral code rebate?
The rate depends on each referral code; on duration, BingX lasts longer. BingX states that referral codes created after 2023-03-01 have no time limit; Binance’s official cap on the invitee rebate is 20%, its futures rebate usually lasts only 12 months, and it also stops at VIP 3 or above. At VIP 0, futures Taker is 0.05% on both, and BingX needs a 10% rebate to match Binance’s 0.045% with BNB. This site’s current rates for both referral codes are shown, synced from the exchanges, in this article’s comparison table and calculators.
Which is better for copy trading, Binance or BingX?
If you want to copy standard futures or prefer clearly written profit share rules, choose BingX; if you want copy trading fees to earn referral rebates too, choose Binance. BingX offers perpetual futures, standard futures and spot copy trading, with profit share of 10%–32% by trader level, and states that it’s calculated on net profit after fees; Binance offers futures and spot copy trading, with futures profit share up to 30%, and states officially that copy trading fees count toward referral commission. Futures copy trading Taker is 0.05% on both.
Which network should I use to send USDT from Binance to BingX?
From Binance to BingX, choose BEP20 at 0.01 USDT; from BingX back to Binance, choose Aptos at 0.01 USDT (2026-10-21). If you want the same network both ways, choose Aptos, 0.11 USDT in total. TRC20 is 1.5 USDT on both; withdrawing over BEP20 from BingX costs 0.15 USDT. For small amounts, watch the minimum withdrawal: at least 5 USDT for Binance BEP20 and at least 5 USDT for BingX Aptos.
I’ve already signed up. Can I still add a referral code?
On both, yes, under certain conditions. On Binance, an account within 30 days of sign-up that hasn’t deposited or traded and has no referrer can add one itself on the binding page; if you’ve traded but have no referrer, an affiliate can start a switch request. On BingX, you can add one if you haven’t deposited or invited any friends; if you’ve already deposited or are already bound, you can register a new account with a new referral code without doing KYC, then use “Identity Transfer” to move the old account’s Advanced KYC to it, and the old account goes back to unverified.
To sign up directly, see the Binance referral code and BingX referral code pages; fee details are in Binance fees and BingX fees; if you already have an account, rebinding rules are in the Binance referral code rebinding guide and the BingX KYC transfer guide. Each exchange’s actual fees after rebates are in actual fees after referral code rebates, the cheapest exchanges are in low-fee crypto exchanges compared, and how much you can save in a year is in how much a referral code rebate can save you; referral codes and rebates for other exchanges are in all exchange referral codes. For other pairings, see Binance vs OKX, Binance vs Bybit, Binance vs Bitget, Binance vs MEXC, MEXC vs BingX and BingX vs Bitget.