Costs, licensing, consumer protection Privacy, self-custody, censorship resistance
C D Regional Crypto Exchanges

BingX

BingX

BINGX SG PTE. LTD. (UEN 202139818K)

Status
Private company
Legal HQ
Singapore
Founded
2018
Corporate site
bingx.com

Operating entity registered in Singapore (BINGX SG PTE. LTD., UEN 202139818K, incorporated 16/11/2021, registered office at 60 Paya Lebar Road, Paya Lebar Square, Singapore 409051). Privately held, not publicly listed; no funding round or valuation publicly disclosed. BingX Labs is the group's investment arm. September 2024 hot wallet hack (~$43-52M), users reimbursed from exchange reserves.
3.0/5 1.2/5 · Data verified on

An exchange offering copy trading, over 300 cryptocurrencies and competitive fees. However, the $52M hack of September 2024, with only partial recovery, the Panama base and weak regulation all weigh on it.

Worth it if you do copy trading and need pairs regulated exchanges don’t list, keeping on the account only what you can afford to lose.

Avoid it if you want to trade from Italy or under solid oversight: BingX is unavailable to Italian residents, is based in Panama and suffered a $52M hack in 2024.

Visit official website ↗ Sponsored link · rating unaffected
31
Transparency: Very low
31/100 · see methodology
31
Data exposure: Minimal
31/100 · lower is better for sovereignty · methodology

Data & conditions

Maker / Taker fee 0.1% / 0.1%
Markets Spot
Max leverage 150×
Supported assets 750+
Fiat on-ramp Yes
Deposit methods Crypto deposit, Credit/Debit card (Visa, Mastercard, Maestro), Apple Pay, Google Pay, Bank transfer (SEPA / SEPA Instant), P2P trading
Geo restrictions US, UK, CA, CN, SG, NL, HK, KP, MO
Fund custody Custodial (platform holds funds)
KYC Full
Supported countries APAC, LATAM, MENA · 60+ countries
Regulator FinCEN, FINTRAC, local
OAM Italy registration No
Segment B2C
MiCA / License status MSB, VASP

Strengths

  • Copy trading; 300+ crypto; fee competitive.
  • No notable sovereignty advantage documented.

Weaknesses

  • Hack $52M 2024; Panama; regulation debole.
  • Custodial: the platform holds your funds and can freeze or lose them.
  • Full KYC required: verified identity, zero pseudonymity.
  • Geographic restrictions (US, UK, CA, CN, SG, NL, HK, KP, MO).

Verdict

C D ★ 3.0/5 ★ 1.2/5

The 0.1% taker/maker fees are competitive, but on the protection lens the score stays mid-table for security reasons: the $52M hack of September 2024 was only partly recovered, and the Panama base — paired with regulation that runs through FinCEN and FINTRAC without a real licence — gives the ordinary user little to lean on. Custodial and full-KYC, it covers 60 countries across APAC, LATAM and MENA but not Italy.

On the crypto-native axis BingX offers little: it is fully custodial, enforces full KYC and the user never controls their own keys, so sovereignty and censorship resistance are effectively absent. The $52M hack is the textbook illustration of the risk of trusting funds to a third party — anyone seeking self-determination won't find it here.

Privacy & anonymity 30% 0.8
Fund control 20% 0.0
Censorship resistance 20% 1.5
Costs 10% 4.0

Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.

"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.

FAQ

What are BingX's fees?

BingX's spot fees vary by tier; check the official fee schedule.

Is BingX regulated in Europe?

BingX does not publicly disclose a reference regulator.

Does BingX publish Proof of Reserves?

Proof of Reserves publication is not documented for BingX. No third-party reserve audit is documented. Reserve transparency is a critical factor after the FTX collapse.

Can I send transfers to third-party IBANs from BingX?

No, BingX is an exchange and does not allow transfers to third-party IBANs: fiat withdrawals return to a bank account in your own name.

Does BingX support derivatives and futures?

BingX does not offer derivatives: it focuses on spot trading.

Sources

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Update history

✓ Terms unchanged since Jun 1, 2026

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