Searching "BingX review" or "is BingX safe" returns ads and reviews mixed together, so it is hard to tell what is true.
The official pages and terms confirm the proof of reserves, the legal entity named in the terms and the governing law. They do not confirm where that entity is registered, and they do not mention deposit insurance.
This page sets out what could be checked on 4 November 2026, so you can decide for yourself.
Is BingX safe? What can and cannot be verified
- Proof of reserves is published. Ratios on 15 October 2026: BTC 143.42%, ETH 123.93%, USDT 127.36%, USDC 125.87%
- The terms name Nieve Cruz PA Corporation as the contracting party, under Hong Kong law (updated 2 September 2026)
- Where that entity is registered, and any regulator licence number, cannot be confirmed from the official pages or terms
- A Shield Fund funded entirely by BingX exists, but its size differs between official pages (USD 126 million vs over USD 150 million)
- Japan is not on the official list of 21 restricted countries and regions, but the list can change
BingX centres on derivatives such as futures and copy trading. Its risk disclosure says you can lose all your funds. Try it only with money you can afford to lose.
BingX review: what the official pages say about the company
BingX was founded in 2018 and offers spot, perpetual futures, standard futures, copy trading and TradFi. Its pages cite over 40 million users, 1,100 or more trading pairs and 24-hour support every day.
It also lists PCI DSS 4.0.1 and ISO/IEC 27001 certifications, and says it was the first to launch crypto copy trading, in 2019.
These figures come from BingX's own pages. We have not verified them independently or seen the certificates. The partnerships with Chelsea FC and Scuderia Ferrari HP are advertising, not evidence that assets are safe.
BingX fees: spot, futures, VIP and withdrawal cost examples →
BingX copy trading: how it works, profit sharing and how to start →
Is BingX safe? The operator and governing law in the terms
The terms (updated 2 September 2026) name "Nieve Cruz PA Corporation" as your counterparty. The About Us page does not name an operating entity.
| Item | What the terms say |
|---|---|
| Counterparty | Nieve Cruz PA Corporation (no place of registration or number given) |
| Governing law | Law of the Hong Kong Special Administrative Region |
| Disputes | Hong Kong International Arbitration Centre (HKIAC) arbitration, with a class action waiver |
| Fiat support | StellarExchange Pty Ltd (a BingX Group entity), registered with Australia's AUSTRAC as a digital currency exchange provider |
| Eligibility | Not open to US or Canada users, or residents and passport holders of restricted jurisdictions |
※ The AUSTRAC registration belongs to a separate company that supports fiat services. The terms say it does not run the exchange or hold users' crypto.
Three things could not be confirmed from the official pages and terms we checked: where Nieve Cruz PA Corporation is registered and its registration number, any regulator's licence number for running the exchange, and the licences cited by third-party sites. We have not listed the last because no primary source confirms it.
BingX proof of reserves: reading the ratios on the official page
Proof of reserves shows whether an exchange holds at least as much as it owes customers. The official page showed these ratios at the data time of 15 October 2026 01:00.
| Asset | Reserve ratio | How to read it |
|---|---|---|
| BTC | 143.42% | About 1.43 times customer assets held |
| ETH | 123.93% | About 1.24 times customer assets held |
| USDT | 127.36% | About 1.27 times customer assets held |
| USDC | 125.87% | About 1.26 times customer assets held |
※ Reserve ratio is platform reserve divided by users' assets. 100% or more means the platform holds more than it owes.
Why Trust BingX shows BTC 142.74%, ETH 121.93%, USDT 139.72% and USDC 122.41% with no data date. We used the dated Proof of Reserves page.
BingX says it publishes a Merkle tree (a data structure used to verify balances) every month. You check whether your own balance is included after logging in to the Proof of Reserves page. Your Hash ID appears under My Assets, and you verify that your balance is a leaf in the tree.
This follows the official page's explanation. We have not viewed the screens behind the login.
BingX review of the audit reports: what Mazars and Hacken checked
The Proof of Reserves page links to two audit reports. We opened both PDFs on 4 November 2026 and read them.
| Item | Mazars | Hacken |
|---|---|---|
| Report date | 1 December 2022 | 17 November 2025 |
| Reporting date | 28 November 2022, 00:00 UTC | 12 November 2025, 23:00 UTC+8 |
| Addressed to | BINGX GLOBAL PTY LTD (Melbourne) | BingX |
| Type | Agreed-upon procedures (AUP), not an assurance engagement | PoR audit (wallet ownership and balance retrieval) |
| Result | Ratios BTC 132%, ETH 122%, USDC 186%, USDT 112% | Balances of 12 assets retrieved, e.g. BTC about 59.45, USDT about 168.3 million |
※ The Mazars result is from November 2022 and is not the current ratio.
The Hacken procedure does not describe reconciling with customer balances (liabilities). The report says it is not a comprehensive financial audit and recommends recurring checks rather than one point in time.
The Mazars letter is addressed to BINGX GLOBAL PTY LTD, a different name from the counterparty in the terms. We found no text explaining the relationship.
Is BingX safe? The Shield Fund and what is not mentioned
BingX promotes a Shield Fund. It is a reserve funded entirely by BingX to cover technical bugs, system vulnerabilities and attacks.
It holds 1,000 BTC, 4,000 ETH and 40,000,000 USDT. All active users are covered with no application, and BingX says it will contact affected users with steps after an incident.
The official pages differ on its size. The Shield Fund page says about USD 126 million (it moves with prices), while Why Trust BingX says over USD 150 million. For external audit, BingX only commits to regular auditing and public reporting, and we found no audit report.
The stated scope is platform-side problems. Losses from market moves are not listed as covered.
The terms, the risk disclosure (updated 7 December 2022) and the disclaimer all lack any mention of deposit insurance or investor compensation. How users are treated in a failure cannot be confirmed from official sources.
Can you use BingX from Japan? Check the restricted jurisdictions
The Disclaimer (updated 11 December 2023) lists 21 countries and regions whose customers BingX does not accept. Japan is not among them.
The list says "not limited to", can change and may differ by service. The terms bar residents and passport holders of restricted jurisdictions. What you can actually use is decided by the sign-up screen and app.
Crypto exchange services offered in Japan require registration with the Financial Services Agency. BingX does not appear on the agency's list of registered providers (as of 30 September 2026), so it is not covered like a registered domestic provider.
BingX and Japan's registration list: findings and restricted regions →
BingX withdrawal problems: grounds for suspension in the terms
The terms set out why a withdrawal can stop. BingX reserves the right to restrict trading or freeze assets even on suspicion.
| Ground | What the terms say |
|---|---|
| Suspected breach | Restrict or suspend trading, freeze the account, and recover improper gains (8.3.2) |
| Related accounts | Accounts linked by funding, devices or shared instructions may be investigated together |
| Wrong information | Inaccurate, outdated or incomplete information can lead to termination |
| Authorities, fraud | Court or regulator orders, unusual activity or unauthorised access can trigger a freeze |
※ The terms also say that, where practicable, BingX may restrict only trading and allow withdrawal of any undisputed balance. They also say BingX is not liable for suspensions.
Check the causes before the terms. A wrong network, a below-minimum amount or the verification level explain most delays.
BingX deposits and withdrawals: steps, fees and what to check →
Protect your BingX account: settings from the official security guide
The official security guide advises two or more verification methods. It recommends Google Authenticator and describes the fund password (4 or 6 digits) as optional. Use a login password of 8 or more characters and do not reuse it.
Beyond BingX's settings, deposit a small amount and test a small withdrawal before scaling up. For futures, check the liquidation level before opening a position, and save your fills, deposits and withdrawals as CSV regularly.
Unverified accounts cannot deposit, and the 24-hour withdrawal limit is 20,000 USDT. With advanced verification, deposits are unrestricted and the limit is 5,000,000 USDT (official help, How to withdraw, checked 4 November 2026; same as bingx-deposit-withdrawal-2026).
BingX's anti-fraud guide explains investment scams that start on social media or with a "wrong number" message in six stages. It helps you spot fake sites and impersonators.
BingX review: common claims checked against official sources
We do not use user reviews as evidence. Instead, we checked the topics people raise most against official wording.
| Topic | Confirmed officially | Not confirmed |
|---|---|---|
| Fees | Spot 0.10% / 0.10%, perpetual futures 0.02% / 0.05% (VIP 0) | Versus other exchanges |
| Reserves | Reserve ratios 125 to 143% (15 October 2026) | A recent third-party check |
| Copy trading | Self-reported as the first to launch | Third-party proof |
| Cannot withdraw | Grounds for suspension in the terms | Individual cases |
| Operator | Counterparty entity and governing law | Place of registration, licence number |
| Protection | Contents of the Shield Fund | Deposit insurance, compensation |
※ Fee examples are worked through in a separate article.
Our conclusion on BingX by situation
BingX publishes proof of reserves, a Shield Fund and the entity named in its terms. It does not state where that entity is registered, or mention deposit insurance. Decide how much to deposit by what you can afford to lose.
If you want to try it, deposit a small amount and complete a small withdrawal. Read the minimum and fee on the withdrawal screen. For futures, check the liquidation level and use only money you can afford to lose as margin.
If you plan to hold a larger balance, count the unknown place of registration as a factor. If domestic protection matters most, a domestic exchange registered with the Financial Services Agency is an option. If you already use BingX, review the terms, disclaimer and proof of reserves dates regularly. This is not investment advice.
BingX invite code and sign-up steps: what to do if you forgot it →
Open the BingX sign-up page (our invite link) →
This summarises facts confirmed from official pages, terms and audit reports as of 4 November 2026. It is not a guarantee of safety or a recommendation. This site has advertising and affiliate relationships. Leveraged trading such as futures can lose more than your initial funds.
Frequently asked questions
Q. Is BingX reputation really good?
A. Reviews can be shaped by advertising and referral fees (this site has an advertising relationship too). Officially verifiable are the proof of reserves, the Shield Fund and the entity in the terms. The place of registration and deposit insurance are not.
Q. Is BingX safe?
A. It cannot be called safe outright. The official reserve ratios are 125 to 143% (15 October 2026). The terms and risk disclosure do not mention deposit insurance or compensation, and futures can lose all your funds.
Q. Who operates BingX?
A. The terms (updated 2 September 2026) name Nieve Cruz PA Corporation as the counterparty. No place of registration or number is given, and the About Us page names no operating entity.
Q. Can Japanese residents use BingX?
A. Japan is not on the official list of 21 restricted countries and regions, but the list can change. BingX is not on the Financial Services Agency of Japan's registered list, so it is not covered like a registered domestic provider.
Q. Is the BingX proof of reserves reliable?
A. The ratios are figures BingX published itself. The Hacken report (November 2025) confirms wallet ownership and balances but does not describe reconciling with customer balances. The Mazars result is from November 2022.
Q. What is the BingX Shield Fund?
A. It is a reserve funded entirely by BingX to cover technical bugs and attacks, with all active users covered. The official pages state its size as about USD 126 million and as over USD 150 million.
Q. What should I do if a BingX withdrawal does not arrive?
A. Check the network, the minimum amount and your verification level first. Unusual activity can trigger a manual review, with arrival in about 10 to 120 minutes. If it drags on, contact online support.
Q. Is BingX a scam?
A. We do not make that call. What can be confirmed is the proof of reserves, the audit reports and the entity in the terms. Fake sites and social media investment scams are common, so register only through the official domain and app.
Sources
- BingX | 100% Proof of Reserves (official, data time 15 October 2026 01:00, checked and captured 4 November 2026) →
- Hacken | BingX Proof of Reserves Audit Report (report date 17 November 2025, audit date 12 November 2025, PDF, checked 4 November 2026) →
- Mazars | BingX Proof of Reserve Report (dated 1 December 2022, reporting date 28 November 2022, PDF, checked 4 November 2026) →
- BingX | Why Trust BingX (official, checked and captured 4 November 2026) →
- BingX | BingX Shield Fund (official, checked and captured 4 November 2026) →
- BingX | Customer Agreement (updated 2 September 2026, checked and captured 4 November 2026) →
- BingX | Disclaimer (restricted jurisdictions, updated 11 December 2023, checked and captured 4 November 2026) →
- BingX | Risk Disclosure Statement (updated 7 December 2022, checked 4 November 2026) →
- BingX | Asset Security Upgrade: Double Password and Triple MFA (official help centre, 2 August 2024, checked 4 November 2026) →
- BingX | Anti-Fraud Guide: Protecting Yourself from Investment Scams (official help centre, checked 4 November 2026) →
- BingX | How to withdraw (24-hour withdrawal limits by verification status, official help centre, checked 4 November 2026) →
- BingX | Fee schedule (official, VIP 0, checked 3 November 2026) →
- Financial Services Agency of Japan | List of registered crypto-asset exchange service providers (as of 30 September 2026, PDF, checked 4 November 2026) →
FX Textbook is an independent information site, not an exchange or a provider of personal investment advice. Crypto-asset trading involves risk: price volatility, liquidation of leveraged positions, transfer mistakes and the operational risk of exchanges and service providers can cause you to lose some or all of your invested capital. No result is guaranteed.
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