Is BingX safe? The global site, bingx.com, is run under a contract with Nieve Cruz PA Corporation, and its official pages list no regulatory licence we could verify. The European site is run by MEGE zweite GmbH as "BingX EU", which received a MiCA authorisation from Austria's FMA only on 13 October 2026. In September 2024 attackers drained a BingX hot wallet; estimates ran from about USD 27 million to USD 52 million, and BingX said it would cover the loss with its own funds. The latest proof of reserves we verified (snapshot 15 September 2026) showed BTC at 146.52% and USDT at 122.17%. Regular users pay 0.05% taker and 0.02% maker on perpetual futures and 0.1% on spot, and signing up with code FEEOTTER gets 45% of fees back automatically from BingX, with no UID linking (checked 24 October 2026).
This review draws on BingX's help centre, user agreement, disclaimer and public API, the ESMA register and our own published articles on reserves and hacks. It covers licences, proof of reserves, security record, legal entity, products, fees, KYC and restricted regions, then explains how the rebate works. For fee details see BingX fee rebate.
Quick verdict
- Licences: only the European site's MiCA authorisation (2026-10-13, Spain and Malta excluded); the global site lists no other licence we could verify.
- Proof of reserves: a monthly Merkle tree snapshot that publishes ratios only; third-party reports from Mazars (2022) and Hacken (2025).
- Security record: a hot-wallet theft in September 2024; BingX said it would absorb the loss and reopened withdrawals in stages.
- Fees: perpetuals 0.05% / 0.02%, spot 0.1% / 0.1%; after the 45% rebate a futures taker pays 0.0275%.
- Where you can't use it: the US, the UK, Canada, the Netherlands, mainland China, Hong Kong, Singapore and others; the user agreement excludes both residents and passport holders of these places.
BingX at a glance
| Item | Detail |
|---|---|
| Contracting entity (global site) | Nieve Cruz PA Corporation; user agreement updated 2026-09-02, Hong Kong law, 60 days of negotiation and then HKIAC arbitration |
| European site | MEGE zweite GmbH (BingX EU, bingx.eu), Vienna, authorised by Austria's FMA |
| Main products | Spot, perpetual futures, standard futures, copy trading (futures and spot), grid and other trading bots, Earn |
| Regular-user fees | Perpetuals 0.05% taker, 0.02% maker; standard futures 0.045%; spot 0.1% taker, 0.1% maker |
| Proof of reserves | Snapshot 2026-09-15: BTC 146.52%, ETH 128.32%, USDT 122.17%, USDC 124.76% |
| KYC | Two states, unverified and Advanced; unverified accounts cannot deposit or trade |
| Fee Otter rebate | 45%, all refunded automatically by BingX; enter FEEOTTER at sign-up, no UID linking needed |
Sources: BingX user agreement, BingX fee schedule, BingX futures public API, BingX spot fee guide and the ESMA MiCA register, checked 2026-10-24; the arbitration clause is from crypto exchange legal entities (2026-10-23).
Licences and regulators: only the European site is authorised
| Region | Entity / status | Source and date |
|---|---|---|
| EU (MiCA) | MEGE zweite GmbH (BingX EU), Austria's FMA, authorised 2026-10-13; passported to 28 countries, Spain and Malta excluded | ESMA CASP register (updated 2026-10-14), checked 2026-10-24 |
| Global site | The official disclaimer and trust pages mention only information-security certifications and list no regulatory licence we could verify | BingX disclaimer, checked 2026-10-24 |
| Indonesia | BingX (BINGBON International Finance Limited) is on OJK Satgas PASTI's June 2026 list of entities submitted for blocking | OJK release (2026-06-22) |
| Hong Kong | Not on the SFC list of licensed virtual asset trading platforms | List of 2026-10-16, see crypto exchange licences by country |
Registration numbers for BingX that circulate online could not be matched to any official page or regulator register, so we leave them out. BingX EU's MiCA authorisation belongs to the European site; an account opened on bingx.com is not covered by it.Country-by-country checks are in crypto exchange licences by country, and the authorised services and passport list are in MiCA-licensed crypto exchanges.
Proof of reserves: latest period and its limits
BingX publishes a Merkle tree snapshot once a month. After logging in you can use your Hash ID to confirm your balance is included, and you can download the wallet address list to check balances on a block explorer. The latest period we read, on 17 October 2026, was the 15 September 2026 snapshot:
| Coin | Reserve ratio |
|---|---|
| BTC | 146.52% |
| ETH | 128.32% |
| USDT | 122.17% |
| USDC | 124.76% |
Source: BingX proof of reserves page. On 2026-10-24 the page still said it publishes the Merkle tree monthly and linked the Mazars and Hacken reports, but the figures only load after login or through a signed request, and we could not read an October period. BingX publishes ratios only, without the amounts of user assets or reserves, so a falling ratio could mean smaller reserves or larger user deposits, and the ratio alone cannot tell you which.The Mazars report was an agreed-upon-procedures engagement and the Hacken report checked wallet holdings without looking at liabilities; details are in BingX proof of reserves, and the cross-exchange table is in proof of reserves compared.
Security record: the September 2024 hot-wallet incident
On 20 September 2024 BingX detected "abnormal access" to a hot wallet and paused withdrawals. Loss estimates differ: the on-chain security firm PeckShield put it at about USD 26.68 million and later above USD 43 million, and Cyvers at about USD 52 million. BingX said at the time that the loss was small and still being calculated (The Block, Bloomberg Law). Bloomberg reported that BingX planned to cover the loss in full with its own capital, and withdrawals reopened in stages. BingX has not published a final loss figure or a full account of the compensation.
For how this compares with other exchange incidents, see exchange hacks and who got repaid; for exchanges that collapsed, see crypto collapse history.
Products
- Futures: perpetual and standard futures. Standard futures charge 0.045% only when you close, plus a spread. See BingX standard vs perpetual futures and the BingX futures guide.
- Copy trading: futures copy trading in fixed-ratio or fixed-amount mode, with a 10% to 32% profit share for the lead trader; see BingX copy trading.
- Bots and Earn: see BingX trading bots and BingX Earn. Exchange savings products are not bank deposits.
Fees and fees after the rebate
| Type | Listed rate | After 45% rebate |
|---|---|---|
| Perpetual taker | 0.05% | 0.0275% |
| Perpetual maker | 0.02% | 0.011% |
| Spot taker / maker | 0.1% | 0.055% |
Source: BingX futures public API (BTC-USDT and ETH-USDT perpetuals) and spot fee guide, checked 2026-10-24. VIP rates and thresholds are in BingX VIP fee tiers; other ways to cut fees are in BingX fee discount.
Our copy-trading example: you follow a lead trader with 1,000 USDT margin at 10x, a 10,000 USDT notional position, opened and closed with taker orders. Fees are 10,000 × 0.05% × 2 = 10 USDT. On an account registered with FEEOTTER, BingX refunds 45% automatically, 4.5 USDT, so you pay 5.5 USDT. Copy-trading opens and closes are futures trades in your own account and earn the rebate like any other trade; the lead trader's profit share is not a trading fee and earns no rebate.
KYC and account rules
BingX KYC has two states, unverified and Advanced. Unverified accounts cannot deposit or trade and can withdraw at most 20,000 USDT per 24 hours; after Advanced verification the limit is 5 million USDT per 24 hours, and BingX says review takes about 2 to 10 minutes. It accepts ID cards, passports and driver's licences, except that driver's licences are not accepted in Indonesia, Vietnam, Thailand and Timor-Leste. One document cannot verify more than one account. Details are in the BingX KYC guide.
Restricted regions
The BingX disclaimer (checked 2026-10-24) lists jurisdictions whose customers BingX does not seek or accept, "including but not limited to": Afghanistan, Burundi, Cambodia, Canada, the Central African Republic, mainland China, Cuba, the Democratic Republic of the Congo, Hong Kong, Iran, Laos, Macau, Myanmar, the Netherlands, North Korea, Panama, Singapore, Somalia, the United Kingdom, the United States (including all territories) and Ukraine's Crimea, Donetsk and Luhansk regions. The user agreement requires that you are not a "resident or passport holder" of any of them.
BingX looks at residence and passport, and either one counts: a UK passport holder living in another country is outside its service under the user agreement. A country-by-country table for the big four is in Binance, OKX, Bybit, BingX restricted countries.
BingX pros and cons
| Pros | Cons |
|---|---|
| EU MiCA authorisation for the European site since October 2026 | The global site lists no regulatory licence we could verify |
| Reserve ratios above 100% in all 26 periods since November 2024 | Ratios only, visible after login; ratios cover only four coins (BTC, ETH, USDT, USDC) |
| Wide choice of copy trading and grid bots | 2024 hot-wallet theft with no final loss figure published |
| Perpetuals at 0.05% / 0.02%, in line with the large exchanges | Restrictions cover passports as well as residence |
| 45% rebate refunded automatically, no linking | A referrer cannot be changed once bound |
Who BingX suits
BingX suits people who copy-trade futures or run grid bots, want the rebate to land in their trading account automatically, and whose residence and passport are both off the restricted list. Residents of the European Economic Area (except Spain and Malta) should use bingx.eu.
It does not suit anyone who needs a locally licensed platform, holders of US, UK or other restricted passports, or people who mainly hold small-cap coins and want proof of reserves to cover them. Keep only the money you are trading on an exchange and move long-term holdings to your own wallet.
How the BingX rebate works
BingX refunds the full 45% automatically to your BingX account; entering code FEEOTTER at sign-up is all it takes, and you do not need to link a UID on Fee Otter. Once you enter the code in the referral field, the sign-up page shows the rebate rate; steps are in how to register on BingX.
Already have a BingX account? If it is new, with no deposit and no invited friends, you can add FEEOTTER under "My Referrer". If it is already bound to someone else's code, the referrer cannot be changed: open a new account with FEEOTTER and transfer your identity verification to it, as described in the BingX referrer change guide. The old account goes back to unverified, with a 20,000 USDT limit per 24 hours, so move larger balances out first.
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