BingX Review 2026: Fees, Licences, the 2024 Hack and Risks
An independent BingX review: spot and futures fees, copy trading, licence status in different jurisdictions, the September 2024 hack and compensation, and who it suits.
In short: BingX is known for copy trading and futures, with a base spot fee of 0.1% maker and 0.1% taker and a homepage welcome gift advertised at up to 6,800 USDT. It suffered a hot-wallet hack in September 2024 (losses estimated at $43 to $52 million) and said it would compensate users. Its licensing differs by country and sources conflict on its EU status, so verify it where you live.
What BingX is
BingX is a centralized exchange focused on futures, copy trading and spot. Its homepage currently shows a welcome gift "worth 6,800 USDT" in its Rewards Hub, a maximum that depends on conditions.
Fees
A BingX guide gives a standard spot fee of 0.10% for both maker and taker, and third-party reviews agree. Futures are reported at 0.02% maker and 0.05% taker. One third-party table lists different spot rates, so check BingX's current fee schedule before trading. Volume discounts exist but sources differ on the details.
Licences and regulation
- US and Canada: in 2022 BingX said it registered as a money services business with FinCEN (US) and FINTRAC (Canada). This is an anti-money-laundering registration, not a trading licence, and a 2026 review could not verify the US registration in its database.
- Australia and Lithuania: one 2026 source says a BingX entity is registered with AUSTRAC as a digital currency exchange provider and another with Lithuania's FCIS.
- EU (MiCA): sources conflict. One tracker reports a MiCA licence from Austria's FMA on 13 October 2026, while earlier 2026 sources describe it as still in transition. We could not confirm it in an official register, so check the ESMA register.
- Restricted countries: about 21 jurisdictions are reported restricted, including the US, UK, Canada and mainland China. BingX's terms are authoritative.
The September 2024 hack
On 20 September 2024 attackers drained a hot wallet. Estimates of the loss ranged from more than $43 million (PeckShield) to about $52 million (Cyvers), and a later investigation with SlowMist put it above $47 million. BingX said it would fully compensate affected users from its own capital and later announced a compensation plan.
Pros and cons
| Pros | Cons |
|---|---|
| Copy trading and futures | 2024 hot-wallet hack |
| 0.1% spot fee | EU licence status unclear across sources |
| Large advertised welcome gift | About 21 restricted jurisdictions |
| Compensation promised after the hack | Leverage up to 1,000x is advertised: extreme risk |
Who it suits
Experienced traders outside restricted countries who understand leverage and keep only trading funds on the exchange. EU residents should check BingX's MiCA status first.
Frequently asked questions
Is BingX safe?
It has had a major hack and compensated users, but no exchange is risk-free. Use 2FA and keep long-term holdings in your own wallet.
Does BingX have a MiCA licence?
Sources conflict. Verify in the ESMA register and on BingX's EU notices.
Not investment advice. Facts checked 29 October 2026 from press reports and BingX's homepage; they can change. See our BingX guide.
