What this exchange is
BingX has run since 2018 and is registered in Singapore. Its main direction is social trading: the exchange builds a feed around trades showing who is opening what, and lets you mirror chosen traders.
On volume and book depth it trails the top three noticeably, so the natural use here is copying and mid-sized futures positions rather than active trading in size.
How social trading differs from copy trading
The difference is in presentation more than mechanics. Mirroring works as it does on Bitget: a chosen trader's trades open on your account and they take a share of the profit. What BingX adds is a public feed around it — you can watch, discuss and follow positions without copying them.
The caution is identical: public statistics show return but not the risk that produced it. A feed adds a sense of transparency without adding information about drawdown.
Fees, funding and withdrawals
BingX has no exchange token, so there is no "hold the token, pay less" scheme either. Spot rates are standard and the discount comes from volume alone. Withdrawal fees per network are in the live table above.
The P2P section works; by our data it covers around sixty-six fiat currencies, though advertisements in rarer ones are few.
What to know
In September 2024 BingX suffered a hot wallet breach: estimates put the loss between forty and fifty million dollars. The exchange paused withdrawals, covered the loss and resumed operations; user funds were unaffected.
The situation is typical of the industry and instructive in the same way as the others: what matters is less the breach itself than the venue's ability to close the gap from its own resources. BingX did.
Who it suits
Anyone drawn to the social side and to mirroring trades. For deep spot and large size, look to Binance, OKX or Bybit — their books are substantially thicker.