BingX Review 2027 Fees, Features and Safety

This BingX review for 2027 looks at the Singapore-based crypto exchange, founded in 2018, and covers trading fees, security record and regulation, so you can decide whether it fits the way you trade.

BingX overview (2027)

BingX is a cryptocurrency exchange built around social trading. It launched in 2018 under the name Bingbon and rebranded to BingX in late 2021. The company began in Singapore, now runs offices in several regions, and reports more than 20 million registered users. Football fans may recognise the name from its partnership with Chelsea FC.

The platform's pitch is simple: trading should not require years of experience. BingX was one of the first exchanges to let users automatically copy other traders, and that feature remains the centre of the product.

How copy trading works on BingX

Thousands of traders publish their live performance on BingX. Each profile shows return on investment, win rate, maximum drawdown, average holding time and the number of current copiers. To follow someone, you choose a fixed amount or a ratio per trade and set an overall stop loss. From that moment the system opens and closes positions in your account whenever the lead trader acts. The trader receives a percentage of your profits, usually around 8% to 10%.

Copy trading is available for perpetual futures, spot and grid strategies. It is an easy way to get started, but it does not remove risk. Many lead traders use high leverage, and a long winning streak can end with a single large loss. Sensible habits include checking at least three months of history, favouring low drawdown over high returns, and spreading funds across several traders.

Other products

• Perpetual futures on hundreds of coins, margined in USDT or the underlying coin.
• Standard futures, a simplified contract format that also covers forex pairs, indices and commodities using crypto as collateral.
• Spot trading on roughly a thousand tokens.
• Grid bots for spot and futures, with AI-suggested settings.
• Wealth products for flexible and fixed savings.
• Demo trading with virtual USDT, which lets newcomers test futures without risking money.

The demo account is one of the better ones in the industry and is worth using for a week or two before trading live.

Fees

Spot trades cost 0.1% for both makers and takers. Perpetual futures cost 0.02% for makers and 0.05% for takers, with discounts for VIP levels based on volume or balance. There is no subscription charge for copy trading beyond the profit share paid to the lead trader. Deposits are free, and withdrawal fees depend on the coin and network.

The September 2024 security incident

On 20 September 2024 BingX detected unauthorised withdrawals from one of its hot wallets across several blockchains. Security firms estimated the loss at more than $40 million. The exchange paused withdrawals, moved remaining funds to cold storage, and resumed service within about a day. BingX stated that it would cover the full loss from its own capital, and customer balances were not reduced.

Following the incident the exchange strengthened its wallet architecture, published proof-of-reserves reports showing more than 100% backing for major assets, and later announced a dedicated protection fund for users. Standard protections such as two-factor authentication, anti-phishing codes and withdrawal whitelists are available on every account.

Regulation and availability

BingX holds registrations in a handful of jurisdictions, including with Australia's financial intelligence agency AUSTRAC and as a virtual asset provider in Lithuania, and it has been working toward broader European authorisation. These are lighter forms of oversight than a full exchange licence in the United States or United Kingdom.

The platform does not serve residents of the United States, Canada, the United Kingdom, Singapore and several other countries. Basic trading is possible with limited verification, although higher withdrawal limits and some features require full identity checks.

Who is BingX best for?

BingX is aimed squarely at beginners and intermediate traders who want to learn by following others. The interface is cleaner than those of most derivatives exchanges, and the minimum amounts for copying are low. Traders who want exposure to gold, oil or stock indices from a crypto account also find the standard futures section useful.

Professionals who need the deepest liquidity, portfolio margin or options will be better served by larger venues.

Pros and cons

• Pros: large and transparent copy trading marketplace, beginner-friendly design, strong demo mode, competitive fees, forex and commodity contracts.
• Cons: 2024 hot wallet breach, limited regulatory coverage, unavailable in several major countries, copied strategies often involve high leverage.

Getting started

Sign up with an email address or phone number, add an authenticator app, and complete verification. Fund the account with a crypto deposit or buy USDT by card or P2P. Try the demo account first, then allocate a small sum to one or two well-established lead traders.

BingX review: verdict for 2027

BingX makes derivatives trading more approachable than almost any rival, and its copy trading data is detailed enough to support informed choices. The 2024 hack and modest licensing are real drawbacks. For newer traders outside restricted countries who start small and manage risk, it is a practical place to learn.

Compare this BingX review with all 40 crypto exchanges in our 2027 list, and confirm the latest terms on the official BingX website before you open an account.