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📋 How We Review: We score exchanges on fees (30%), security (25%), coin selection (20%), user experience (15%), and customer support (10%). All fee data from official BingX schedules. We don’t take payment to change verdicts.
BingX launched in 2018 as a social trading platform and has grown into a full-featured exchange with 750+ coins, copy trading, spot, perpetual futures, and grid bots. It’s positioned as the “social network of crypto” — built around copying experienced traders rather than chart analysis. In September 2024, BingX suffered a $43–52M hot wallet hack. All user losses were covered. In June 2025, BingX launched a permanent $150 million Shield Fund and Copy Trading 2.0 — its most substantial post-hack investment.
⚡ TL;DR — BingX
Social trading-first crypto exchange founded in 2018. 20M+ users globally. Best known for copy trading and low futures taker fees.
- ⭐ Rating: 3.5/5 — competitive fees and good copy trading; Sept 2024 hack is key context
- 💰 Spot fee: 0.10% maker/taker (standard)
- 📈 Futures fee: 0.02% maker / 0.05% taker — one of lowest taker fees available
- 🔄 Copy Trading 2.0 (June 2025): detailed performance analytics, adjustable risk parameters, subsidy voucher for new copiers
- 🛡️ $150M Shield Fund (June 2025): dedicated user-protection reserve, separate from Proof of Reserves
- 🚨 September 2024 hack: $43–52M stolen from hot wallets — all losses covered, ShieldX security initiative launched
- 🪙 Coins: 750+ · 820+ spot pairs · forex, indices, and commodities via perpetuals
- 🚫 Not available: US, UK, Canada
BingX Score Card
| Category | Weight | Score | Notes |
|---|---|---|---|
| Fees | 30% | 4/5 | 0.1% spot · 0.02%/0.05% futures — among lowest taker fees available |
| Security & Regulation | 25% | 3/5 | $43–52M hack Sept 2024 (covered) · $150M Shield Fund · monthly PoR · limited licenses |
| Coin Selection | 20% | 3.5/5 | 750+ coins · 820+ pairs · good coverage; not as wide as Gate.io |
| User Experience | 15% | 4/5 | Social trading focus · demo account · clean mobile app · beginner-friendly · AI Trade Review |
| Customer Support | 10% | 3/5 | 24/7 live chat · response quality varies |
| Overall: 3.5/5 — Competitive fees and good copy trading; Sept 2024 hack is key risk context | |||
⚠️ September 2024 Hot Wallet Hack — $43–52M Lost: In September 2024, BingX suffered a hot wallet breach losing approximately $43–52 million in crypto. The exchange suspended withdrawals temporarily, covered all user losses from company funds, and resumed normal operations within days. Post-hack: launched ShieldX security initiative; cold storage ratios improved; mandatory KYC now standard. In June 2025, BingX launched a permanent $150M Shield Fund as a dedicated user-protection reserve.
What Is BingX?
BingX is a global crypto exchange founded in 2018, registered in the British Virgin Islands, headquartered in Singapore. It serves 20 million+ users across 100+ countries. Originally built as a social trading platform, it has expanded into a full exchange with spot, perpetual futures, standard futures, copy trading, grid bots, and earn products. The platform is particularly popular in Southeast Asia, Latin America, and the Middle East. It holds AUSTRAC registration (Australia), EU MTR license, and US MSB registration — though this is basic registration, not comprehensive licensing.
Key 2025 Updates
- June 2025 — $150M Shield Fund launched: Permanent dedicated user-protection reserve, separate from Proof of Reserves. Provides rapid compensation in the event of security breaches or unforeseen losses.
- June 2025 — Copy Trading 2.0: New detailed performance analytics for lead traders, adjustable risk parameters for followers, greater flexibility in trade mirroring, and a Copy Trading Subsidy Voucher (new copiers can get refunds if they lose on their first copy trades).
- 2025 — AI Trade Review: AI feature that analyzes a user’s trading history, identifies mistakes, and provides actionable improvement feedback. Integrates on-chain data, sentiment analysis, and technical indicators.
- 2026 — Monthly Merkle Tree PoR audits: Bi-weekly (now monthly) audits with Mazars, allowing independent verification of solvency. 100% collateralization confirmed across major assets.
BingX Fees
| Fee Type | Standard Rate | Notes |
|---|---|---|
| Spot Maker/Taker | 0.10% | Standard rate · VIP tiers reduce further |
| Futures Maker | 0.02% | Same as Binance and Bitget at base |
| Futures Taker | 0.05% | Among lowest standard taker fees of any major exchange |
| Copy Trading | Profit-share | Followers pay % of profit to lead traders; subsidy voucher for new copiers |
| Deposit | Free | Crypto deposits free; fiat varies by method |
BingX Features
Copy Trading 2.0 (core feature): Follow experienced traders and have their positions mirrored automatically. BingX’s social trading interface shows trader performance stats, follower counts, 30-day ROI, win rate, AUM, and maximum drawdown. New copiers get subsidy vouchers — if they lose on initial copied trades, BingX refunds up to a limit. Demo account: Full trading simulation with virtual funds — rare at this scale. 750+ coins including forex, indices, and commodities via perpetuals. Grid bots: Spot grid, futures grid, and infinity grid strategies. AI Trade Review: Analyzes your trading history and provides personalized improvement recommendations.
💡 Expert Tip: BingX’s Copy Trading Subsidy Voucher is one of the most beginner-friendly onboarding mechanics in crypto. If you lose money on your first copy trades, BingX reimburses you up to a set limit — it’s effectively a risk-free trial for copy trading. Combine this with the demo account (test strategies with virtual funds before going live), and BingX has the most friction-reducing beginner onboarding of any derivatives-focused exchange.
Who Should Use BingX?
BingX is a good fit if you:
- Want social/copy trading with subsidy vouchers for new copiers and the ability to see detailed trader stats
- Trade futures frequently and want 0.05% taker fees — one of the lowest standard rates available
- Are a beginner who wants a demo account before going live
- Want AI-assisted trade review and improvement feedback
This exchange probably isn’t right if you:
- Are in the US, UK, or Canada — BingX is not available there
- Want the cleanest copy trading security record — Bitget (no major hack, ISO 27001, largest verified copy trader ecosystem) is stronger on both
- Need the widest altcoin selection — Gate.io (4,500+) covers far more
- Want the deepest futures liquidity for large positions — Bybit leads here
Pros and Cons
| ✅ Pros | ❌ Cons |
|---|---|
| 0.05% futures taker — one of lowest standard rates | $43–52M hack Sept 2024 (covered, but happened) |
| Copy Trading 2.0 · subsidy voucher for new copiers | Not available in US, UK, Canada |
| $150M Shield Fund (June 2025) · 100% Proof of Reserves (Mazars) | Limited major regulatory licenses |
| Demo account · AI Trade Review · beginner-friendly | Less futures liquidity than Bybit or Binance |
| 750+ coins · forex/indices/commodities via perpetuals | No native exchange token (less fee reduction mechanism) |
| Monthly Merkle Tree PoR audits · CertiK security audit | Spot 0.10% — same as competitors, no discount without staking |
BingX vs Copy Trading Alternatives
| Feature | BingX | Bitget | Bybit |
|---|---|---|---|
| Futures Taker Fee | 0.05% ✅ | 0.06% | 0.055% |
| Copy Trading | ✅ Social-first (2.0, June 2025) | ✅ Largest verified ecosystem | ✅ Deep, high-volume |
| 2024-2025 Security | ⚠️ $43–52M hack Sept 2024 (covered) | ✅ No incident | ⚠️ $1.5B hack Feb 2025 (covered) |
| Demo Account | ✅ Yes | Partial | ✅ Yes |
| Shield/Protection Fund | $150M (June 2025) | $300M+ ✅ | Large reserve ✅ |
| US Available | ❌ No | ❌ No | ❌ No |
| Review | This article | Click here | Click here |
FAQs
Is BingX safe after the 2024 hack?
BingX covered all user losses from the September 2024 $43–52M hot wallet hack and resumed normal operations within days. Post-hack: launched the ShieldX security initiative, improved cold storage ratios, and in June 2025 established a permanent $150M Shield Fund as a dedicated user-protection reserve. Monthly Merkle Tree PoR audits (Mazars-verified) confirm 100% collateralization. BingX lacks ISO 27001 or SOC 2 certifications. If you use BingX: keep only active trading funds on the platform.
What is the BingX Copy Trading Subsidy Voucher?
New BingX users who start copy trading receive a Subsidy Voucher — if they lose money on their first copied trades, BingX refunds them up to a set limit. It’s a risk-reduction mechanism to encourage new traders to try copy trading without full downside exposure at the start. Limits and terms vary; check BingX’s current promotion page before starting.
Bottom Line: BingX offers genuinely competitive futures fees (0.05% taker — one of the lowest standard rates), a social trading ecosystem with Copy Trading 2.0 (June 2025), a $150M Shield Fund, and the most beginner-friendly onboarding (demo account + subsidy voucher) of any derivatives exchange. The September 2024 $43–52M hack — where all losses were covered — is the main concern. For traders who want low-cost futures with a social trading focus and are comfortable with the security context: BingX is a solid option. For maximum copy trading security and verified lead trader breadth: Bitget (no major hack, ISO 27001) is stronger. For maximum futures liquidity: Bybit leads.
📋 Related Reviews: Bitget Review | Bybit Review | Gate.io Review
📊 Comparisons: BingX vs Bybit | BingX vs Bitget
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