Updated Rules checked 2026-10-21
MEXC or BingX? On fees alone, MEXC is much cheaper. For regular users (VIP 0) on USDT perpetual futures, MEXC’s standard rate is Maker 0% and Taker 0.02%, while BingX charges 0.02% / 0.05%; on major-coin spot, MEXC charges 0% / 0.05% and BingX 0.1% / 0.1%. BingX’s strengths are copy trading and its referral code rules. It offers three kinds of copy trading (perpetual futures, standard futures and spot), and you can add a referral code later as long as you haven’t deposited or invited any friends; if you’re already bound to someone else’s code, you can use “Identity Transfer” to move to a new account. On MEXC, a referral code can’t be changed once it’s bound.
MEXC’s low rates have exceptions: 163 smaller-coin spot pairs charge 0.2% Taker, more than BingX’s 0.1%, and futures orders placed through the API cost a separate 0.06% / 0.08%. On security, BingX’s hot wallet was attacked on 2024-09-20. BingX said it would cover the loss in full, and the security firm PeckShield estimated it at about 43 million USD. As of 2026-10-12, we found no major public incident of MEXC’s platform wallets being hacked, but MEXC has faced disputes over frozen user accounts. On reserves, MEXC’s latest snapshot is dated 2026-09-10, while the latest BingX snapshot with a readable date is 2026-07-15, nearly two months older.
If you mainly trade futures, often use market orders and mostly trade major coins, choose MEXC. If you want copy trading (especially spot copy trading or standard futures copy trading), run algorithmic trading through the API, or already signed up and deposited but forgot to enter a referral code, BingX is the better fit. Neither exchange lists Taiwan among its restricted regions, and neither offers a direct way to deposit New Taiwan dollars (TWD).
Sign up to MEXC with referral code mexc-KEVINWU and the exchange automatically refunds 20%; spot and futures rates are set separately.
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. VIP 0 futures: MEXC standard rate 0% / 0.02%, BingX 0.02% / 0.05%; major-coin spot: MEXC 0% / 0.05%, BingX 0.1% / 0.1%. With 200,000 USDT of futures plus 20,000 USDT of spot a month, all as Taker, you pay 50 USDT on MEXC and 120 USDT on BingX.
2. MEXC has the MX deduction (20% off both spot and futures); BingX has no platform-token discount.
3. Fixing a missing referral code: MEXC lets you bind one yourself within 30 days of sign-up, and it can’t be changed after that; BingX lets you add one before you deposit, and if you’re already bound or have deposited, you can use “Identity Transfer” to move your KYC to a new account.
4. Maximum BTC leverage: MEXC 500x, BingX 150x; on both exchanges, about 80% of crypto futures settle funding every 4 hours.
5. BingX’s hot wallet was attacked on 2024-09-20, and BingX covered the loss in full; we found no record of MEXC’s platform wallets being hacked, but MEXC faced a dispute over frozen accounts in 2025.
The data below was checked against official pages on 2026-10-21 (data check date) and is provided for reference.
How do MEXC and BingX differ?
| Item | MEXC | BingX |
|---|---|---|
| Spot Maker / Taker (VIP 0) | Major coins 0% / 0.05%; of 1,792 pairs, 1,056 charge 0% / 0.08% and 163 charge 0% / 0.2% | 0.1% / 0.1%; a few pairs are fee-free |
| USDT perpetual futures Maker / Taker (VIP 0) | Standard rate 0% / 0.02% (900 of 1,085 contracts); 17 charge 0.04% / 0.1% | 0.02% / 0.05%, the same on all 988 contracts |
| Platform-token discount | MX deduction, 20% off: spot Taker 0.04%, futures Taker 0.016% | No platform-token discount; rebate vouchers only apply to spot orders you place yourself |
| API orders | Futures charged a separate 0.06% / 0.08%, with no rebate (from 2026-06-01) | The VIP table on the fee page lists no separate API rate |
| Referral code rebate | 20% | 45% |
| Rebate duration and VIP limit | Duration not publicly stated; invited users can’t join the VIP program | 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 | Main accounts with no referrer can bind one themselves within 30 days of sign-up | If you haven’t deposited (including buying crypto) or invited any friends, you can add one under “My Referrer” |
| Switching referrers | Can’t be changed or removed once bound | 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 | Verification is required to use the related services; Primary and Advanced levels; one identity can verify up to 2 accounts | Only two levels, unverified and Advanced KYC; each user may hold only one active account |
| Unverified accounts | Deposits may not be credited, and withdrawals ask you to verify first; no limits listed officially | Can’t deposit or trade; can withdraw 20,000 USDT per 24 hours |
| Restricted regions (Taiwan) | The terms of use dated 2026-10-13 don’t list Taiwan | The disclaimer dated 2023-12-11 doesn’t list Taiwan |
| TWD deposit options | No TWD bank deposit; TWD isn’t among the 60 fiat currencies on P2P (2026-10-11) | No TWD deposit found on official pages; we couldn’t confirm whether P2P has TWD ads at the time of checking |
| Tradable spot coins | 1,407 (1,792 pairs) | 625 (648 pairs) |
| Number of USDT perpetual contracts | 1,085, of which about 500 are stock, index, commodity and forex contracts | 988, of which 433 are TradFi contracts such as stocks, forex and commodities |
| Maximum BTC futures leverage | 500x (tier 1, up to 12 BTC) | 150x (tier 1, up to 300,000 USDT, 2026-10-17) |
| Crypto futures settling funding every 4 hours | 465 of 586 (79%) | 443 of 555 (80%) |
| Funding rate caps | BTC ±0.18%; most altcoins ±3% | BTC ±0.3%; most altcoins ±2% |
| Copy trading | Futures copy trading (including AI traders) | Perpetual futures, standard futures and spot copy trading, plus signal trading |
| Copy trading profit share | 10% by default, traders can apply to adjust it, up to 50% in private mode; settled daily | Perpetual futures 10%, 16%, 20% or 32% by trader level, private copy trading 0–50%; settled every Monday |
| Trading bots | Futures grid, spot grid, spot DCA | Spot grid, infinity grid, futures grid, martingale |
| Cheapest USDT withdrawal network and fee | Plasma 0 USDT (minimum 10); BEP20 0.01, ERC20 0.094, TRC20 0.5 | Aptos 0.01 USDT (minimum 5); BEP20 0.15, ERC20 1, TRC20 1.5 |
| Proof of reserves (latest snapshot) | 2026-09-10: BTC 297%, ETH 111%, USDT 119% (verified by Hacken) | 2026-07-15: BTC 142.82%, ETH 126.48%, USDT 131.83% |
| Protection fund | Guardian Fund of 100 million USDT plus 2,000 BTC; MEXC states it’s a company commitment | Shield Fund, stated officially as over 150 million USD, self-funded by BingX |
| Major security incidents | No major public incident of platform wallets being hacked found (as of 2026-10-12); in 2025 it froze about 3.1 million USD belonging to a user, then unfroze it and apologized | Hot wallet attacked on 2024-09-20; BingX didn’t publish the amount, PeckShield estimated about 43 million USD, and BingX said it would cover the loss in full |
Sources and dates: fees come from the MEXC fee overview, the MEXC futures trading FAQ, the MEXC MX fee discount announcement, the BingX fee page (2026-10-11) and the BingX perpetual futures fee schedule. Per-pair fees, spot and futures counts, leverage and funding settings come from both exchanges’ official public APIs, read on 2026-10-21 (MEXC spot, MEXC contract details, MEXC funding rates, BingX spot, BingX contract details, BingX funding rates); we counted items that were trading, and the numbers change as listings are added or removed. MEXC’s TradFi contracts were counted by the API’s category tags, BingX’s by the NC prefix in the symbol. BingX’s BTC leverage comes from the BingX position and leverage page (2026-10-17). USDT withdrawal fees were read on 2026-10-21 from the MEXC fee overview and the BingX deposit and withdrawal fee page. Sources for the other rows are given in the matching sections below.
How much do MEXC and BingX fees differ?
Suppose someone trades 200,000 USDT of USDT perpetual futures and 20,000 USDT of major-coin spot a month, all at the official VIP 0 rates. BingX also gets a VIP 1 column, because you reach VIP 1 with 50,000 USDT in assets on the previous day:
| Monthly fees (USDT) | MEXC | MEXC (MX deduction on) | BingX | BingX (VIP 1) |
|---|---|---|---|---|
| Futures 200,000, all Taker | 40 | 32 | 100 | 80 |
| Spot 20,000, all Taker | 10 | 8 | 20 | 12 |
| Total (all Taker) | 50 | 40 | 120 | 92 |
| Total (all switched to Maker) | 0 | 0 | 60 | 35 |
Sources and dates: MEXC fees as in the previous section; BingX VIP 1 is 0.014% / 0.04% for futures and 0.035% / 0.06% for spot, from the VIP table on the BingX fee page (2026-10-11).
The formula is trade value times the fee rate: futures cost 200,000 × 0.02% = 40 USDT on MEXC and 200,000 × 0.05% = 100 USDT on BingX; spot costs 20,000 × 0.05% = 10 USDT on MEXC and 20,000 × 0.1% = 20 USDT on BingX. With every order as Taker, you pay 70 USDT more a month on BingX, 2.4 times what MEXC charges, and most of the gap comes from futures Taker (0.05% vs 0.02%). If every order is Maker, MEXC’s 0% Maker rate on futures and major-coin spot means you pay nothing at all; on BingX, futures Maker at 0.02% comes to 40 USDT, and because spot Maker and Taker cost the same, limit orders save nothing there, so spot is still 20 USDT.
The two exchanges cut fees in different ways. On MEXC, turn on the MX deduction and move MX into the matching account to get 20% off both spot and futures; the 50% discount for holding 500 MX is currently suspended, and you carry the price risk of the platform token yourself. BingX has no platform token, so VIP level is the only route: 50,000 USDT in assets on the previous day makes you VIP 1, which lowers futures Taker to 0.04%, still double MEXC’s rate. Both offer a way to place Maker-only orders, called Post-Only on MEXC and “Maker Only” on BingX; 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.
Three exceptions to MEXC’s low fees
The first is smaller coins. MEXC sets fees per trading pair, and in the official API on 2026-10-21, 163 of 1,792 spot pairs charged 0% / 0.2%, a Taker rate double BingX’s; 17 of 1,085 USDT perpetual contracts charged 0.04% / 0.1%, also a higher Taker rate than BingX’s 0.05%. Before trading a smaller coin, check that pair’s fee on the trading page (MEXC fees explained).
The second is the API. Since 2026-06-01, MEXC has charged futures orders placed through the API a separate Maker 0.06% and Taker 0.08%; the website and app rates don’t apply, and there’s no rebate (MEXC API futures fee announcement). The VIP table on BingX’s fee page lists no separate API rate; the only mention is a volume condition for VIP 4 and above, which requires API volume to stay at or below 20%. For algorithmic traders, BingX’s 0.02% / 0.05% actually works out cheaper.
The third is the new-user offer. For new users in Chinese-speaking regions who complete advanced identity verification, MEXC offers a combined fee-free allowance of up to 3 million USD on BTC, ETH and GOLD futures, and MEXC reserves the right to change or end it at any time (MEXC new-user futures fee announcement, 2026-06-04). Trades within this allowance carry no fees, so they earn no rebate either.
How big a BingX rebate does it take to match MEXC?
A referral code rebate refunds part of the fees you actually paid. To bring BingX’s 0.05% futures Taker down to MEXC’s level, work backward: BingX net cost = 0.05% × (1 − rebate rate). The thresholds are:
| Comparison | MEXC net cost | BingX rebate needed (at least) |
|---|---|---|
| MEXC with no rebate, BingX VIP 0 (0.05%) | 0.02% | 60% |
| MEXC with MX deduction and no rebate, BingX VIP 0 | 0.016% | 68% |
| MEXC with no rebate, BingX VIP 1 (0.04%) | 0.02% | 50% |
Sources and dates: calculated from both exchanges’ official futures Taker rates, 2026-10-21; the formula is 1 − MEXC net cost ÷ BingX rate, for example 1 − 0.02 ÷ 0.05 = 60%.
This table compares against MEXC’s rate before any rebate; once MEXC’s own referral code rebate comes off as well, the threshold only goes higher. On standard futures Taker alone, MEXC is cheaper in most cases; BingX comes out ahead for API trading and for smaller coins where MEXC charges more.
The two calculators below each use that exchange’s official futures Taker rate, 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: MEXC futures (Taker 0.02%)
| Monthly volume | Fees (0.02%) | Auto rebate (20%) | Net fees |
|---|---|---|---|
| 10,000 USDT | 2 USDT | 0.4 USDT | 1.6 USDT |
| 100,000 USDT | 20 USDT | 4 USDT | 16 USDT |
| 1,000,000 USDT | 200 USDT | 40 USDT | 160 USDT |
Example at a futures fee rate of 0.02% and the current 20% automatic rebate (rate updated 2026-10-24). Your exchange statement prevails.
Sign up with this site’s MEXC referral code and the exchange’s automatic rebate is 20%. MEXC states that the rebate is calculated on net fees, so with the MX deduction on, it’s based on the discounted amount you actually pay. Maker 0% and zero-fee trades carry no fees and therefore no rebate, so on standard futures the rebate in practice only applies to Taker orders.
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 2026-10-24). 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. BingX also charges 0.02% on Maker orders, so limit orders earn a rebate 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 MEXC 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 MEXC and BingX futures rules differ?
The two list a similar number of crypto futures (MEXC 586, BingX 555), and their funding settlement schedules are close. The differences are in the leverage cap, the funding rate caps and how liquidation is triggered:
| Item | MEXC | BingX |
|---|---|---|
| Maximum BTC leverage | 500x (positions up to 12 BTC), dropping to 200x above that | 150x (positions up to 300,000 USDT), dropping to 125x above that |
| Maximum ETH leverage | 500x | 150x |
| BTC tier 1 maintenance margin rate | 0.1% | 0.1% |
| Funding settlement on crypto futures | 465 every 4 hours, 118 every 8 hours, 3 every hour | 443 every 4 hours, 99 every 8 hours, 13 every hour |
| Funding rate caps | BTC ±0.18%; 464 contracts at ±3% | BTC ±0.3%; 462 contracts at ±2% |
| Price used for liquidation | Fair price (mark price) | Dual price: liquidation only happens when both the mark price and the last traded price reach the estimated liquidation price |
| Liquidation threshold | Margin ratio (including the liquidation fee) reaches 100% | Risk ratio (including the closing fee at the Taker rate) reaches 100% |
| Losses beyond margin | Covered by the insurance fund, so users don’t owe extra debt; auto-deleveraging if the fund falls short | Covered by the risk reserve; auto-deleveraging if it falls short |
| Simplified futures | None | Standard futures: a single 0.045% charge when you close, with a spread built into the fill price |
Sources and dates: MEXC leverage tiers and funding settings were read on 2026-10-21 from the MEXC contract details API and the MEXC funding rate API, and liquidation rules follow the MEXC futures liquidation FAQ and the MEXC insurance fund FAQ. BingX funding settings were read the same day from the BingX funding rate API, leverage tiers 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.
500x applies only to MEXC’s BTC and ETH, and at 500x a price move of about 0.1% against you triggers liquidation; on BingX, BTC at 150x is liquidated after about 0.52%. Both offer high leverage: BingX’s SOL and DOGE also go up to 300x in tier 1 (2026-10-17), and MEXC’s SOL is 300x as well. 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, and the difference between cross and isolated margin is in cross vs isolated margin.
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 4 USDT of Taker fees to open and close on MEXC or the 10 USDT on BingX. Watch the caps too. Most altcoin futures on MEXC are capped at ±3%, so at the cap a 10,000 USDT position pays 300 USDT in a single settlement; at BingX’s ±2% it’s 200 USDT. 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 MEXC futures guide and the BingX futures guide.
How do MEXC and BingX referral code rebate rules differ?
On both, the exchange pays the rebate directly to the invitee. The differences are the duration and whether you can fix a wrong or missing referral code afterward:
| Rule | MEXC | BingX |
|---|---|---|
| Calculation basis | Net fees = fees − bonuses − vouchers − other discounts; the amount after the MX deduction is what counts | Trading fees the invitee actually pays after discounts |
| Duration | Not publicly stated | No time limit for referral codes created after 2023-03-01 |
| VIP limit | Invited users can’t join the MEXC VIP program | Nothing official says it stops after a VIP upgrade; lower fees mean a smaller base for the rebate |
| Payout timing | Before 09:00 (UTC+8) the day after the trade | 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 |
| Trades with no rebate | Maker 0% orders, zero-fee pairs, API orders, and fees offset by vouchers or trial funds | Zero-fee pairs, fees refunded by rebate vouchers, and perpetual futures trades made with trial funds |
| Adding a referral code later | Main accounts with no referrer can bind one themselves within 30 days of sign-up; the referrer must have registered before you | If you haven’t deposited (including buying crypto) or invited any friends, you can add one under “My Referrer” |
| Changing referrers | Can’t be changed or removed once bound | Can’t be changed; “Identity Transfer” can move your Advanced KYC to an unverified account registered with a new referral code |
| Checking the binding | “My Inviter” on the Invite Friends page | “My Referrer” in personal settings |
Sources and dates (checked 2026-10-21): MEXC rules come from the MEXC referral rules, the MEXC affiliate FAQ, the MEXC self-service referrer binding guide and the MEXC VIP program upgrade announcement; 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.
If you’ve just signed up and haven’t deposited, both let you fix it. MEXC gives you 30 days: enter the referrer’s invitation code or UID on the self-service binding page. BingX doesn’t state a number of days; the conditions are that you haven’t deposited (including buying crypto) and haven’t invited any friends. If you’ve already deposited or are bound to someone else, MEXC has no official route. 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; BingX’s account compliance guide also states that each user may hold only one active account. Details are in the MEXC referral code rebinding guide, the BingX KYC transfer guide and how to check whether your referral code is bound.
Do MEXC and BingX require identity verification? What should users in Taiwan know?
Identity verification: both require verification for normal use; the difference is what an unverified account can still do. MEXC states that users must complete identity verification to use the related products and services. Its KYC FAQ lists two pop-ups: “funds restricted, cannot be credited” when depositing, and a request to complete identity verification first when withdrawing. Primary verification allows 80 BTC a day in withdrawals and Advanced 200 BTC (MEXC KYC FAQ). 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). The number of accounts differs too: on MEXC one person’s identity can verify up to two accounts, while on BingX one ID document can verify only one account. Steps are in the MEXC identity verification guide and the BingX identity verification guide.
Restricted regions: the regions MEXC doesn’t serve under its terms of use (updated 2026-10-13) include the United States, the United Kingdom, Canada, Hong Kong, Singapore, Malaysia, mainland China and Kazakhstan, among others; the regions BingX doesn’t accept under its disclaimer (updated 2023-12-11) include the United States, the United Kingdom, Canada, Hong Kong, Macau, Singapore, the Netherlands, mainland China and Panama, among others. Neither list includes Taiwan. 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 MEXC P2P on 2026-10-11, TWD wasn’t among its 60 supported fiat currencies; we couldn’t confirm whether BingX P2P had TWD ads at the time of checking. The practical route is the same for both: buy USDT with TWD on a Taiwanese platform (such as MAX or BitoPro), then transfer it to the exchange, and reverse the steps to cash out. When sending back to MAX, the cheapest network from MEXC is Avalanche C-Chain (0.000074 USDT) and from BingX it’s Aptos (0.01 USDT, 2026-10-21); BingX doesn’t support Avalanche C-Chain for USDT. 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 MEXC app developer is Onechain Technology Ltd and the BingX app developer is BingX Group Limited, and both websites are available in Traditional Chinese.
What are MEXC and BingX each good at?
MEXC‘s strengths are fees and coin selection. According to its official API on 2026-10-21, it has 1,407 tradable spot coins, more than twice BingX’s 625, and 1,085 USDT perpetual contracts, so people who want to trade smaller coins have more choice.
- Copy trading: futures copy trading, plus AI traders you can follow (MEXC copy trading). The profit share is 10% by default, traders can apply to adjust it, and it goes up to 50% in private mode. The previous day is settled daily between 00:00 and 01:00; on profitable trades, the profit share is frozen when the position closes, and apart from trading fees, funding and the profit share there are no other charges (MEXC profit share rules).
- Trading bots: futures grid (long, short or neutral, from 10 USDT, MEXC futures grid), spot grid and spot DCA.
- Earn and more: regular USDT flexible savings pay 6.0% APR on the first 200 USDT, 2.5% from 200 to 500 USDT and 0.3% above 500 USDT (snapshot of 2026-10-13, MEXC Earn); there are also gold and silver perpetual contracts (up to 1,000x on 2026-10-21), US stock contracts, Launchpad and demo futures trading.
BingX‘s strength is the range of copy trading. Beyond perpetual futures, it offers standard futures copy trading and spot copy trading, and the profit share is only charged when the whole period ends in net profit; standard futures simplify charges into a single 0.045% fee when you close.
- Copy trading: public perpetual futures copy trading charges a profit share by trader level of 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 P&L of all positions in the period × profit share rate, 0)”, and position net P&L 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% on anything above (snapshot of 2026-10-13, BingX Earn); there are also TradFi perpetual contracts on stocks, forex and commodities, plus demo trading.
Copy trading costs include trading fees too. Copy trades are usually orders that fill immediately, and MEXC states that copy trading uses IOC limit orders, which pay the Taker rate (MEXC copy trading terms). Copying a trader who makes 40 round trips a month with 1,000 USDT at 5x leverage costs 5,000 × 0.02% × 2 × 40 = 80 USDT in fees on MEXC and 200 USDT on BingX. BingX explains its profit share calculation more clearly, stating that fees are deducted first; MEXC’s profit share rules don’t say whether P&L is calculated after fees. Neither exchange states officially whether copy trading fees earn a referral code rebate. 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 savings rates are compared in USDT flexible savings rates.
How do MEXC and BingX compare on proof of reserves and security?
Both state that they publish proof of reserves monthly, and both let you use a Merkle tree to confirm your account is included:
- MEXC: the latest snapshot is dated 2026-09-10, with BTC 297%, ETH 111%, USDT 119% and USDC 111%; users hold 4,106.57 BTC and the platform 12,202.13 BTC, verified by the security firm Hacken (MEXC proof of reserves, MEXC September reserves press release).
- BingX: the latest snapshot with a readable date is 2026-07-15, with BTC 142.82%, ETH 126.48% and USDT 131.83% (BingX press release, PR Newswire, 2026-07-30). The BingX reserves page links reports by Mazars and Hacken (2025), and after logging in you can check BTC, ETH and USDT with a Hash ID; the figures on the page only appear when JavaScript runs, and we couldn’t read them when checking.
A higher reserve ratio doesn’t mean safer: MEXC’s BTC reserve ratio is 297%, but PoR can’t show where the extra coins came from or whether there are matching liabilities. BingX’s snapshot was 98 days old as of 2026-10-21, nearly two months older than MEXC’s, and BingX doesn’t publish users’ BTC holdings, so the two can’t be compared directly by size. When checking on 2026-10-21, I found no newer report from either exchange. The major incidents for each:
- BingX hot wallet attack on 2024-09-20: around 04:00 (Singapore time), BingX detected abnormal network access, moved assets and suspended withdrawals. BingX said the loss was “minor”, that it would cover it in full and that user assets were safe, but it never published a final amount; 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).
- MEXC frozen account dispute in 2025: in July 2025, MEXC froze about 3.1 million USD belonging to a trader under its risk control rules; after the case went public, MEXC’s chief strategy officer apologized on 2025-10-31, said the funds had been unfrozen, and said MEXC would set up a fast track for account issues (DL News).
- Single MEXC account hacked on 2026-09-27: a user’s account was taken over, and even after it was recovered, 322,110 USDT and a batch of ONE were withdrawn. The user estimated the loss at about 340,000 USD and alleged that API keys created by the attacker hadn’t been revoked; MEXC didn’t confirm how the withdrawals happened, and its support said it had reached an agreement with the user on undisclosed terms (crypto.news). This was an individual account incident, not a platform wallet hack. If your account has ever been compromised, check and delete all API keys after you recover it.
- Regulatory record: Japan’s Financial Services Agency has issued MEXC a warning for operating without registration, and in February 2025 asked Apple and Google to remove the apps of MEXC and others in Japan (The Defiant); the unregistered platforms named by the Philippine SEC in August 2025 also included MEXC (Cointelegraph). Under this site’s inclusion criteria (exchange announcements, major media, and judicial and regulatory notices), we found no major penalties against BingX as of 2026-10-12.
The two risks are different in kind: BingX’s incident was a platform hot wallet hack, with the platform covering the loss; MEXC’s disputes involved individual accounts being frozen by risk control or hacked. On protection funds, MEXC’s Guardian Fund stood at 100 million USDT plus 2,000 BTC according to a press release at the end of September 2026 (MEXC press release), and MEXC states that this is a company commitment, not a statutory compensation scheme (MEXC security explainer); BingX officially states that its Shield Fund exceeds 150 million USD and is self-funded by BingX (BingX Shield Fund). Proof of reserves isn’t deposit insurance; coins you don’t plan to trade for a long time can go to a wallet you control yourself. Exchange comparisons are in exchange security records and the exchange proof of reserves comparison, and the full details are in the MEXC review and the BingX review.
What to watch when moving from MEXC to BingX (or the other way)
Switching platforms means opening a new account at the other exchange and moving your assets over. We suggest this order:
- Register the new account first, with the referral code entered on the sign-up page. If you move to MEXC and forget it, you still have 30 days to add it; if you move to BingX, you can add it any time before you deposit or invite a friend.
- Complete identity verification on the new account; both exchanges require it before you can deposit and trade normally.
- On the old account, close positions, cancel orders, redeem savings, 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 and confirm it arrives before sending a large one.
Moving between the two means an on-chain withdrawal, with a fixed fee per withdrawal charged by the sending exchange. The table shows the 9 networks both exchanges supported on 2026-10-21, in USDT, with each cell showing “fee (minimum withdrawal)”:
| Network | Withdraw from MEXC to BingX | Withdraw from BingX to MEXC |
|---|---|---|
| BEP20 (BNB Smart Chain) | 0.01 (minimum 0.2) | 0.15 (minimum 3) |
| Aptos | 0.1 (minimum 10) | 0.01 (minimum 5) |
| TON | 0.017 (minimum 8) | 0.017 (minimum 5) |
| Polygon | 0.0065 (minimum 5) | 0.8 (minimum 10) |
| Optimism | 0.0078 (minimum 3) | 1 (minimum 1.1) |
| Arbitrum One | 0.05 (minimum 1) | 0.5 (minimum 0.5) |
| ERC20 | 0.094 (minimum 8) | 1 (minimum 5) |
| Solana | 0.18 (minimum 10) | 1 (minimum 1) |
| TRC20 | 0.5 (minimum 2) | 1.5 (minimum 1.5) |
Sources and dates: read on 2026-10-21 from the MEXC fee overview and the BingX deposit and withdrawal fee page. This table only confirms the withdrawal side on each exchange; before sending, check the receiving exchange’s deposit page to confirm the same network is available for deposits. 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 MEXC, use BEP20 at 0.01 USDT with a minimum withdrawal of just 0.2 USDT; from BingX, use Aptos, also 0.01 USDT but with a 5 USDT minimum. A 1,000 USDT round trip costs 0.02 USDT in total going out on BEP20 and back on Aptos, versus 2 USDT using TRC20 both ways. If you want the same network in both directions, TON is cheapest (0.034 USDT combined); enter the Memo (tag) shown on the deposit page as well. MEXC’s Plasma withdrawal fee is 0, but BingX doesn’t support Plasma for USDT, so it can’t be used between the two. Choose a network that matches on both sides; with the wrong one, funds may be lost permanently. Referral code rebates only refund trading fees, not withdrawal fees. Full fees for each network across 13 exchanges are in the USDT withdrawal fee comparison.
Who are MEXC and BingX best for?
- Beginners who mainly buy major-coin spot: choose MEXC. Major coins such as BTC and ETH are Maker 0% and Taker 0.05%, versus 0.1% on BingX, and if you forget the referral code you can still add it within 30 days of sign-up. Before trading a smaller coin, check whether that pair charges 0.08% or 0.2%.
- Futures traders who often use market orders: choose MEXC. Futures Taker is 0.02% vs 0.05%; on 200,000 USDT of futures a month, you pay 40 USDT on MEXC and 100 USDT on BingX, and BingX’s rebate would need to be 60% or more to catch up.
- Copy traders: it depends on what you copy. If you only copy futures and care about fees, MEXC’s lower Taker means 80 USDT vs 200 USDT for the same 40 round trips; if you want to copy spot or standard futures, or want clearly written profit share rules, choose BingX.
- Algorithmic traders using the API: choose BingX. MEXC charges API futures a separate 0.06% / 0.08% with no rebate; BingX’s VIP 0 futures rate is 0.02% / 0.05%.
- Already signed up and deposited without a referral code: BingX is more flexible, since “Identity Transfer” can move your KYC to a new account registered with a referral code; on MEXC, it can’t be changed once 30 days have passed or you’re bound to someone else.
- Lowest possible fees: choose MEXC. With Post-Only limit orders and the MX deduction, major-coin spot and standard futures Maker orders cost 0; for market orders, futures Taker is 0.016% with MX on.
Many people use both: regular futures and major coins on MEXC, copy trading or algorithmic trading on BingX, which also spreads the risk of a single platform suspending withdrawals. To move USDT between them, use BEP20 out of MEXC and Aptos out of BingX.
How we checked the data
Fees, identity verification, and the rules for adding and switching referral codes were checked against both exchanges’ official help centers and fee pages between 2026-10-11 and 2026-10-21. Per-pair fees, spot coins, contract counts, MEXC’s leverage tiers, funding settings and USDT withdrawal fees were read from official pages and public APIs on 2026-10-21; BingX’s leverage tiers are from 2026-10-17; savings rates are a snapshot from 2026-10-13, and P2P is from 2026-10-11. Reserves come from each exchange’s most recently published report, and incidents were cross-checked against official announcements and news reports. How this site compiles its data is explained in rebate data methodology, and referral link disclosures are in referral and rebate disclosure.
FAQ
Which has lower fees, MEXC or BingX?
MEXC, on both futures and major-coin spot. VIP 0 futures: MEXC’s standard rate is Maker 0% and Taker 0.02%, BingX 0.02% / 0.05%; major-coin spot: MEXC 0% / 0.05%, BingX 0.1% / 0.1%. With 200,000 USDT of futures plus 20,000 USDT of spot a month, all as Taker, you pay 50 USDT on MEXC and 120 USDT on BingX. The exceptions are MEXC’s API futures (0.06% / 0.08%) and some smaller-coin pairs, where fees are higher than on BingX.
Can I use MEXC and BingX at the same time?
Yes. MEXC and BingX are different companies, so you just sign up and complete identity verification on each. The limits apply within each exchange: on MEXC one identity can verify up to two accounts, and on BingX each user may hold only one active account. Enter the referral code when you sign up on each. Sending USDT from MEXC to BingX on BEP20 costs 0.01 USDT, and the other way on Aptos also costs 0.01 USDT (2026-10-21).
Should users in Taiwan choose MEXC or BingX?
The conditions for using either in Taiwan are similar, so it comes down to how you trade: choose MEXC if you mainly trade regular futures and major coins, and BingX if you mainly copy trade or trade through the API. Neither restricted-region list includes Taiwan, both apps are on the Taiwan App Store, and neither offers TWD deposits. For both, you first buy USDT with TWD on a Taiwanese platform and then transfer it; when sending back to MAX, Avalanche C-Chain is cheapest from MEXC and Aptos from BingX.
Which is safer, MEXC or BingX?
Neither can be called absolutely safe. 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. We found no major public incident of MEXC’s platform wallets being hacked, but in 2025 it froze about 3.1 million USD belonging to a trader, then apologized and unfroze it. On reserves, MEXC’s 2026-09-10 snapshot shows BTC 297% and USDT 119%, and BingX’s 2026-07-15 snapshot shows BTC 142.82% and USDT 131.83%; BingX’s data is older.
Which referral code rebate is higher?
The rate depends on each referral code. On both, the exchange pays the rebate directly, and a fair comparison has to include the fee rates. BingX’s futures Taker is 0.05%, so the rebate has to be 60% or more for your net cost to match MEXC’s 0.02% before rebate. On the rules, BingX states that referral codes created after 2023-03-01 have no time limit; MEXC hasn’t published a duration, and invited users can’t join MEXC’s VIP program. The current rates for this site’s codes on both exchanges are synced from the exchanges and shown in the comparison table and calculators in this article.
Which is better for copy trading, MEXC or BingX?
If you only copy futures, MEXC costs less; if you want to copy spot or standard futures, only BingX offers them. MEXC futures copy trading pays Taker 0.02%, with a default 10% profit share settled daily; BingX perpetual futures copy trading pays 0.05%, with a profit share of 10%–32% by trader level settled every Monday, and BingX states that the profit share is calculated on net profit after fees. With 1,000 USDT at 5x and 40 round trips a month, fees come to 80 USDT vs 200 USDT.
Which network should I use to send USDT from MEXC to BingX?
From MEXC to BingX, choose BEP20 at 0.01 USDT; from BingX back to MEXC, choose Aptos at 0.01 USDT (2026-10-21). If you want the same network both ways, choose TON at 0.017 USDT on each side, and remember to enter the Memo. TRC20 costs 0.5 USDT on MEXC and 1.5 USDT on BingX; MEXC’s Plasma has a 0 fee, but BingX doesn’t support that network.
I’ve already signed up. Can I still add a referral code?
On MEXC, yes, within 30 days of sign-up; on BingX, yes, as long as you haven’t deposited or invited any friends. On MEXC it has to be a main account with no referrer, and the code can’t be changed once bound. On BingX, 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; the old account goes back to unverified.
To sign up directly, see the MEXC referral code and BingX referral code pages; fee details are in MEXC fees and BingX fees; if you already have an account, the switching rules are in the MEXC referral code rebinding guide and the BingX KYC transfer guide. Each exchange’s actual fees after the rebate are in actual fees after referral rebates, the cheapest exchanges are in the low-fee exchange comparison, and how much you can save in a year is in how much a referral rebate can save you; referral codes and rebates for other exchanges are in all exchange referral codes. To compare other pairs, see BingX vs Bitget, OKX vs MEXC, Bitget vs MEXC, Binance vs MEXC, Bybit vs MEXC and MEXC vs Gate.