BingX is a crypto exchange founded in 2018 that is best known for copy trading and perpetual futures, with low base futures fees (0.02% maker, 0.05% taker), published proof of reserves and a hot-wallet hack in September 2024 whose losses it pledged to cover from its own funds. It suits futures and copy traders outside its restricted countries; it is not available to residents of the United States, Canada, the United Kingdom, the Netherlands or Singapore.
Altrady connects to BingX as one of its supported exchanges, so weigh our view accordingly. This review is documentation-based: we checked BingX's own fee schedule, proof-of-reserves page, disclaimer and support articles on 28 October 2026, without opening an account or depositing funds. Check every fee and rule on BingX yourself before you trade.
Key Takeaways
- Fees: 0.10% maker and taker on spot at the base level (VIP 0), and 0.02% maker / 0.05% taker on perpetual futures, falling with VIP level.
- Copy trading is the core product: followers pay the trader a share of profits that depends on the trader's tier, on top of normal trading fees.
- Safety: BingX publishes monthly Merkle-tree proof of reserves with Mazars and Hacken audit reports, but it lost an estimated $43–52 million from hot wallets in September 2024.
- Availability: BingX's disclaimer lists the US, Canada, the UK, the Netherlands, Singapore and other jurisdictions as restricted.
- Best for: futures and copy traders who want low derivatives fees, not users who need a locally regulated exchange.
BingX at a Glance
| Item | BingX (checked 28 Oct 2026) |
|---|---|
| Founded | 2018 |
| Users | "More than 40 million" (BingX's own figure) |
| Markets | Spot, perpetual futures (USDT-margined and coin-margined), standard futures, copy trading, trading bots, TradFi markets such as stocks, commodities and indices |
| Trading pairs | 1,100+ (BingX's own figure) |
| Spot fees (VIP 0) | 0.10% maker / 0.10% taker |
| Perpetual futures fees (VIP 0) | 0.02% maker / 0.05% taker |
| Proof of reserves | Monthly Merkle tree; Mazars and Hacken audit reports |
| Security incident | Hot-wallet hack on 20 September 2024 |
| Demo trading | Yes, for futures with virtual funds |
| Restricted | US, Canada, UK, Netherlands, Singapore, Mainland China, Hong Kong and others |
What Is BingX?
BingX launched in 2018 and grew around social and copy trading; it describes itself as the first crypto exchange to launch copy trading. Today it presents itself as a multi-asset platform: crypto spot and derivatives, copy trading, grid bots and TradFi markets in one account. It is also known for sports sponsorships, as Principal Partner of Chelsea FC since 2024 and Team Partner of Scuderia Ferrari HP from 2026.
Like most offshore exchanges, BingX is a custodial platform: you deposit funds with BingX, and its rules and the jurisdictions it serves are set by its own terms rather than by a single national regulator.
BingX Fees
Spot trading fees
Spot trading costs 0.10% for both makers and takers at VIP 0. Rates fall with your VIP level, down to 0.02% taker and 0.005% maker at the top "Supreme VIP" level. Spot grid and spot infinity grid bots pay the same rates as spot.
BingX spot fee schedule. Captured from bingx.com on 28 October 2026.
Perpetual futures fees
Perpetual futures are where BingX is most competitive: 0.02% maker and 0.05% taker at VIP 0, falling to 0.025% taker and 0% maker at Supreme VIP. Futures copy trading and futures grid bots pay the same rates as perpetual futures. Funding payments between long and short positions come on top of trading fees.
BingX perpetual futures fee schedule. Captured from bingx.com on 28 October 2026.
| Level | Spot taker / maker | Perpetual futures taker / maker |
|---|---|---|
| VIP 0 | 0.1000% / 0.1000% | 0.0500% / 0.0200% |
| Elite | 0.0800% / 0.0500% | 0.0450% / 0.0180% |
| VIP 1 | 0.0600% / 0.0350% | 0.0400% / 0.0140% |
| VIP 2 | 0.0500% / 0.0200% | 0.0375% / 0.0120% |
| VIP 3 | 0.0450% / 0.0150% | 0.0350% / 0.0100% |
| VIP 4 | 0.0375% / 0.0125% | 0.0315% / 0.0080% |
| VIP 5 | 0.0325% / 0.0100% | 0.0300% / 0.0060% |
| Supreme VIP | 0.0200% / 0.0050% | 0.0250% / 0.0000% |
Source: BingX fee schedule, checked 28 October 2026. Your own rate can differ; BingX shows it under "View my exclusive rate".
Deposit and withdrawal fees
Withdrawal fees depend on the coin and the network you choose, and BingX lists them on the "Deposits & Withdrawals" tab of its fee schedule. Cheaper networks for stablecoins usually cost less than Ethereum mainnet. Buying crypto with a card or fiat can carry separate provider fees, so check the quote before you pay.
BingX Copy Trading
Copy trading lets you pick a trader from BingX's leaderboard and automatically mirror their trades with an amount you choose, on futures or spot. You choose how much to allocate and can stop copying a trader.
- Costs: you pay normal trading fees on every copied trade, and the trader you copy takes a share of your profits. BingX ranks traders in tiers that are updated weekly; in its own support example, a Gold trader's profit share was 10% and rose to 13% after an upgrade to Diamond.
- How to judge a trader: look at drawdown, how long they have traded, how many followers they already manage and how their results behave in falling markets, not just headline ROI.
- The main risk: leaderboards show winners. Short track records with very high returns usually mean very high leverage, and past performance does not guarantee future results.
Futures, Spot, Bots and Demo Trading
- Perpetual futures: USDT-margined and coin-margined contracts with high leverage on major pairs. Maximum leverage varies by pair and position size.
- Standard futures: a simplified futures product with its own fee schedule.
- Spot: a wide altcoin selection with frequent new listings, which also means more thinly traded, riskier coins.
- Trading bots: spot grid, spot infinity grid and futures grid bots inside the exchange. Read our grid trading strategy guide before using one.
- Demo trading: futures practice with virtual funds.
- TradFi: access to stocks, commodities and indices from the same account.
Is BingX Safe?
Proof of reserves
BingX publishes 100% proof of reserves, with a Merkle tree it says it updates monthly, audit reports from Mazars and Hacken, and downloadable wallet addresses. Users can check that their own BTC, ETH, USDT or USDC balance is included. In the snapshot dated 14 October 2026, BingX reported reserve ratios of 143.42% for BTC, 123.93% for ETH, 127.36% for USDT and 125.87% for USDC.
BingX proof of reserves page with the 14 October 2026 snapshot. Captured from bingx.com on 28 October 2026.
Proof of reserves shows that assets covered user balances at a point in time. It does not show the exchange's liabilities in full or rule out future losses.
The September 2024 hack
On 20 September 2024, BingX detected abnormal access to its hot wallets. Blockchain security firms estimated losses between about $43 million (PeckShield) and $52 million (Cyvers). BingX said it would fully compensate the losses with its own capital and reopened withdrawals in stages, starting with major tokens. Critics noted that its first public statement was vague about the scale.
Account security
BingX offers two-factor authentication and other account protections in its security settings. Turn on everything available, and avoid leaving more on any exchange than you are actively trading. See our guide to exchange security and bankruptcy risks.
Is BingX Available in Your Country?
BingX's disclaimer (last updated 11 December 2023) says it does not seek or accept customers from restricted jurisdictions including the United States and its territories, Canada, the United Kingdom, the Netherlands, Singapore, Mainland China, Hong Kong, Macau, Iran, North Korea, Cuba and several others, and that the list can change and vary by service. Do not use a VPN to get around these restrictions: exchanges can freeze accounts that do.
BingX Pros and Cons
Pros
- Low base perpetual futures fees (0.02% maker / 0.05% taker)
- Established copy trading with spot and futures options
- Proof of reserves with monthly Merkle tree and third-party audit reports
- Built-in grid bots and futures demo trading
- Wide coin selection and TradFi markets in one account
Cons
- Not available in the US, Canada, the UK, the Netherlands, Singapore and other jurisdictions
- A $43–52 million hot-wallet hack in September 2024
- Spot fees of 0.10% at VIP 0 are standard rather than low
- Copy trading adds a profit share and encourages chasing high-leverage leaderboards
- Many small listings carry higher liquidity and volatility risk
Who Is BingX For?
- Good fit: futures traders outside restricted countries who want low derivatives fees, and traders who want to try copy trading with small amounts.
- Not a fit: residents of restricted countries, investors who want an exchange licensed in their own country, and anyone who would hold long-term savings on an exchange.
Trading BingX With Altrady
If you already trade on BingX, Altrady can add a professional trading terminal on top of it. You connect BingX with an API key with trading permissions only, so your funds stay in your BingX account and Altrady cannot withdraw them. Altrady works with BingX spot and futures markets and the other exchanges on its list of 19+ supported exchanges:
- Smart orders: entry, stop loss and several take-profit targets in one order, with stop loss moved to entry after the first target.
- Bots: Grid Bot, DCA Bot, Signal Bot and TradingView Bot, where supported for the market.
- Market scanners across BingX pairs with alerts.
- Portfolio and real-time PnL across BingX and your other exchanges.
- Paper trading to test a setup before running it live.
Altrady charges no extra fees on BingX trades; you pay BingX's own fees. See how to trade BingX with Altrady.
Altrady Grid Bot set-up with the range and grid levels on the chart.
Frequently Asked Questions
Is BingX safe?
BingX publishes proof of reserves with Mazars and Hacken audit reports and offers standard account security, but it lost an estimated $43–52 million from hot wallets in September 2024, which it pledged to cover from its own capital. Treat it like any offshore exchange: use 2FA and keep only trading funds there.
Is BingX legit?
Yes, BingX is an established exchange operating since 2018 that reports more than 40 million users. Being legitimate is not the same as being regulated in your country, so check that it serves your jurisdiction.
Is BingX available in the US?
No. BingX's disclaimer lists the United States and its territories as a restricted jurisdiction, along with Canada, the UK, the Netherlands, Singapore and others.
What are BingX trading fees?
At VIP 0, spot trading costs 0.10% maker and taker, and perpetual futures cost 0.02% maker and 0.05% taker. Higher VIP levels pay less.
How much does BingX copy trading cost?
You pay standard trading fees on copied trades plus a profit share to the trader you copy, which depends on the trader's tier. BingX's own example shows 10% for a Gold trader and 13% for a Diamond trader.
Was BingX hacked?
Yes. On 20 September 2024 attackers drained BingX hot wallets, with estimates between about $43 million and $52 million. BingX said it would cover the losses with its own capital and gradually reopened withdrawals.
Can I use BingX with Altrady?
Yes. Altrady connects to BingX spot and futures through an API key with trading permissions only, adding smart orders, bots, scanners and portfolio tracking. Your funds stay on BingX.
Trading cryptocurrencies, especially with leverage or copy trading, involves high risk, including the loss of your capital. Exchange fees, features and restricted countries change; check BingX's own pages before trading. This article is not financial advice.