Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighNo financial licence on any register, no UK or European authorisation, and three regulator alerts or actions naming the operation; the only registrations are company and anti-money-laundering records, one of which has ceased.
Identity & transparency
7/10 · HighClients contract with Nieve Cruz PA Corporation, a Panamanian company registered in March 2025 whose name has no link to the brand, named in the agreement without an address, company number or disclosed ownership, across a group spread over five jurisdictions.
Withdrawals & conduct
7/10 · HighA fund-integrity pattern meeting all four axes, with account IDs, dates and amounts up to 300,000 US dollars, set against credible positive reviews and a company that answers and escalates 84 per cent of negative reviews.
Reputation
7/10 · HighTrustpilot 1.5 out of 5 from 762 reviews with 64 per cent at one star and a hollow middle, a second platform at 2.4 out of 5, and investor alert listings, offset by much larger positive app-store bases.
Website claims
5/10 · ModerateNo fabricated regulator claims and unusually frank risk disclosure, but a help page headed as licences and authorisations documents only a company registration, a 2022 release still calls money services registrations compliance licences, and the 40 million user figure is unverifiable.
Operational history
6/10 · HighContinuous brand operation since 2018 as Bingbon with a 2015 domain and a documented 2021 rebrand, but the oldest datable group company is from November 2021 and the contracting entity is only 19 months old.
Who they are
A quick desk file on the company behind the brand.
- Brand: BingX, launched as Bingbon and renamed BingX in November 2021.
- Legal entity: Nieve Cruz PA Corporation (Panama) is the counterparty in the customer agreement. Other group entities include BingX Limited (British Virgin Islands), UAB Bingx EU (Lithuania), BingX Global Pty Ltd (Australia) and BingX CA Limited (Canada).
- Registered: Panama Public Registry, folio 155764276, tax ID 155764276-2-2025, registered 11 March 2025. No street address is published for the contracting company.
- Website: bingx.com, with bingx.pro serving the same platform and fiat.bingx.com handling fiat and peer-to-peer trading.
- Only licence: none. What exists are company registrations (Panama, Lithuania, Australia) and anti-money-laundering registrations, one of which has ceased.
- Offers: spot crypto, perpetual and standard futures, copy trading, trading bots, and CFD futures on gold, crude oil and forex, plus stock and index exposure.
- Not accepted: United States and its territories, United Kingdom, Canada, Singapore, Netherlands, Hong Kong, Macau, mainland China, Cambodia, Panama itself, and sanctioned jurisdictions. CFD futures are additionally blocked across most of the EU, Australia and New Zealand.
- Age claim: the site says 'Founded in 2018' and carries a 2018 to 2026 copyright line. The predecessor domain bingbon.pro was registered in April 2019 and bingx.com in April 2015, while the oldest group company we could date was incorporated in November 2021.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
FINTRAC (Financial Transactions and Reports Analysis Centre of Canada)
FinCEN (Financial Crimes Enforcement Network, United States)
Public Registry of Panama
Found by our investigation (2) — the broker does not list these on its own site
ASIC (Australian Securities and Investments Commission)
Found by us — not listed by the broker
Financial Supervision Authority, Estonia (as recorded on our profile)
Found by us — not listed by the broker
Why we reached this verdict
How the evidence adds up.
We rate BingX high risk and unverified rather than a scam. The platform functions, the money moves for most people, and nothing we found supports an allegation of theft. What is absent is supervision of any kind, and the gap between the brand's scale and its paperwork is unusually wide.
- No licence anywhere. We searched the UK register for the name and it returns nothing, there is no Australian financial services licence, and BingX does not appear in the European register of authorised crypto-asset service providers. The company publishes no regulation page and no register verification link, which is consistent with having nothing to link to.
- Three authorities have flagged it. The CNMV listed bingx.com as an unauthorised firm in February 2023. Malaysia's Securities Commission added BingX to its investor alert list in December 2023, with the published reason being operation of a digital asset exchange without registration. India's Financial Intelligence Unit issued a notice to BingX Limited of Road Town, British Virgin Islands under the Prevention of Money Laundering Act on 1 October 2025, and the same release records takedown notices for the apps and URLs. These are authorisation and anti-money-laundering findings, not findings of fraud, and we have weighed them that way.
- A registration that quietly ended. BingX announced in January 2022 that BingX US Limited and BingX CA Limited had secured what it called compliance licences as money services businesses. The Canadian register shows BINGX CA LIMITED, registration M21534025, with the status Ceased and a cessation date of 7 December 2023. A money services business registration is an anti-money-laundering registration in any event, never a licence to run an exchange or sell CFDs.
- The counterparty is new and opaque. Client funds are held under an agreement with Nieve Cruz PA Corporation, a name with no connection to the brand, registered in Panama in March 2025. The agreement itself gives no registration number and no address, and a separate help page headed as licences and authorisations in fact documents only that company registration and a tax ID. Ownership is not disclosed anywhere on the site.
- A real and current pattern of locked accounts. The fund-access complaints pass all four of our pattern tests. They describe the same mechanism (account restricted by risk control, documents demanded then rejected, balance withheld), they cluster from July 2026 onward, they come from different users on more than one platform, and they are checkable: 300,000 US dollars reported inaccessible on account 37860708 since 14 July 2026, 2,322 US dollars withheld after a withdrawal attempt in September 2026, a 500 euro bank deposit unaccounted for, a peer-to-peer order unresolved for eight months, and a BingX reply on the record conceding a year with no clear resolution on account 26130515.
- Mitigation we credited. Reserve ratios above 100 per cent with audit reports attributed to Mazars and Hacken and a Merkle tree check. A company that answers 84 per cent of negative reviews and escalates cases publicly. Roughly 221 five-star reviews on the same Trustpilot page and far larger positive app-store bases. A hot wallet breach on 20 September 2024 that the company undertook to cover from its own funds. And a Belgian regulator notice that treats bingx.com as the real company being impersonated by a clone.
Scoring: regulation 9 and identity 7 and fund-access complaints 7 all carry double weight, with reputation 7, website claims 5 and operating history 4 at single weight, which gives 62 divided by 9, or 69 per cent. No risk floor was applied: the operation has a verifiable track record of about five years and a very large review footprint, so neither the young-broker nor the no-footprint floor is in play.
Evidence ledger
Every finding, with its source and how strongly it points.
E1Spain's securities regulator lists the warned entity BINGX with the website https://bingx.com, warning dated 20 February 2023, as not authorised to provide investment services.
Hard proofCNMV warned-companies search, SpainE2India's Financial Intelligence Unit issued a non-compliance notice on 1 October 2025 to BingX Limited of Johnson's Ghut, Road Town, British Virgin Islands, under section 13 of the Prevention of Money Laundering Act, and the same release records notices for takedown of the applications and URLs from public access in India.
E3IOSCO's alert network carries a Securities Commission Malaysia entry for the commercial name BingX, published 7 May 2024, with the explanatory note 'Operating a digital asset exchange (DAX) without registration'.
E4The Securities Commission Malaysia added BingX to its Investor Alert List of unauthorised websites, products, companies and individuals on 4 December 2023.
E5A search of the UK Financial Services Register for bingx returns no results, so no BingX entity is authorised in the United Kingdom; the UK is also on BingX's own restricted-jurisdiction list.
E6Canada's money services business registry records BINGX CA LIMITED, registration number M21534025, covering foreign exchange, money transferring and virtual currency, with status Ceased, an initial registration date of 23 December 2021 and a cessation date of 7 December 2023.
E7A company press release dated 31 January 2022 announces that BingX US Limited and BingX CA Limited secured what it calls compliance licences as money services businesses with FinCEN and FINTRAC, with no registration numbers given; a money services business registration is an anti-money-laundering registration rather than a licence to operate an exchange.
E8The customer agreement, last updated 2 September 2026, states that the agreement is between the user and Nieve Cruz PA Corporation and gives no registered address or company number; governing law is Hong Kong and disputes go to arbitration seated in Hong Kong. It also allows the company to place administrative holds, to deduct, retain or forfeit what it calls improper gains, and limits withdrawals after account termination to the original deposited amount within seven days.
ModerateBingX Customer AgreementE9A BingX help page headed as licences and authorisations in Panama in fact documents only a corporate registration: Nieve Cruz PA Corporation, a limited company under the laws of the Republic of Panama, registered 11 March 2025, tax ID 155764276-2-2025. No licence or supervisory authority is named.
E10Panama's public registry record confirms NIEVE CRUZ PA CORPORATION as a sociedad anonima at folio 155764276, incorporated about a year ago, with full details behind a paywall.
E11The number recorded against this broker as an Australian licence, 644804571, returns 'No record found' on Australia's business register, so it is not an Australian registration held by BingX.
E12BingX's Australian entity is BINGX GLOBAL PTY LTD, ABN 31 646 052 244 and company number 646 052 244, an Australian private company active from 19 July 2023 and based in Victoria. It is a company registration; no Australian financial services licence is recorded for the brand and BingX claims none.
E13Lithuania's register of legal entities records UAB Bingx EU, registration code 305995741, registered 28 January 2022, status active, at Islandijos g. 6 in Vilnius, with the recorded activity being other business support services and one employee on record as of April 2025.
E14The per-domain review page for bingx.com shows 1.5 out of 5 from 762 reviews, with 64 per cent at one star against 29 per cent at five and almost nothing in between, 153 reviews in the last twelve months, a claimed company profile since January 2022, a contact location of Panama City, and replies to 84 per cent of negative reviews.
StrongTrustpilot, bingx.comE15Dated one-star reviews describe one mechanism repeatedly, with checkable detail: 300,000 US dollars reported inaccessible on account 37860708 since 14 July 2026 after three days of activity; 2,322 US dollars withheld after a withdrawal attempt and the account then blocked in September 2026; a 500 euro bank deposit unaccounted for in August 2026; a peer-to-peer order, ID 1476415863127400455, unresolved for eight months; and a BingX reply on account 26130515 conceding a year with no clear resolution. Several began immediately after the user took part in a BingX promotional voucher.
E16A second, independent complaint platform shows 21 BingX reviews averaging 2.4 out of 5, with the dominant themes being restricted accounts (July 2025, January 2026, February 2026), a suspended withdrawal (August 2025) and locked funds including a 3,200 dollar case from January 2025.
ModeratePissedConsumer, BingX reviewsE17Belgium's FSMA, in a warning published 5 June 2023, states that bingsaub.com is a malicious clone of UAB BingX EU at https://bingx.com/ and is entirely unconnected with that company, which identifies bingx.com as the genuine operation rather than the impersonator.
E18BingX publishes reserve ratios above 100 per cent for its main assets, names proof-of-reserves audit reports attributed to Mazars and to Hacken, and offers a Merkle tree check letting a user verify their own balance as a leaf for BTC, ETH and USDT.
ModerateBingX proof of reserves pageE19BingX excludes its own services in the United States and its territories, the United Kingdom, Canada, Singapore, the Netherlands, Hong Kong, Macau, mainland China, Cambodia, Panama and sanctioned regions, which is the opposite of the aggressive solicitation pattern typical of unlicensed platforms.
E20BingX sells CFD futures on gold, crude oil and forex alongside crypto, states that the legal classification of those products is subject to the regulator where the user lives, blocks them across most of the EU, the UK, Australia, New Zealand, the United States, Canada and India, and names no licence for them.
E21The bingx.com domain was registered on 29 April 2015 through Amazon Registrar, with the record last changed on 13 June 2026, which predates the 2018 founding claim and indicates the domain was acquired rather than registered at launch.
E22The predecessor domain bingbon.pro was registered on 23 April 2019 and is still held, and the brand announced in November 2021 that Bingbon, described as a leading social trading and cryptocurrency platform, was rebranding to BingX.
E23BingX does not appear in the official European register of crypto-asset service providers authorised under MiCA, checked against that register on 9 October 2026, so it has no EU authorisation for the services it offers.
E24A BingX hot wallet was breached on 20 September 2024, with early third-party estimates of 13 to 20 million dollars drained and higher figures reported later; the company suspended withdrawals, moved assets and said it would cover all losses from its own funds.
E25BingX's own about page claims it was founded in 2018, serves more than 40 million users, has been principal partner of Chelsea FC since 2024 and a team partner of Scuderia Ferrari HP from 2026, and offers perpetual futures, spot, copy trading and traditional-market products. The site carries no regulation page and no register verification link.
WeakBingX about pageE26A British Columbia Securities Commission caution-list entry from 18 July 2024 names the commercial name X-Bingx as an unregistered entity offering financial products or services, with no website recorded. The name differs from this brand and no domain ties it to bingx.com, so it is not counted against this operation.
The other side
The strongest case in this broker’s favour.
The case that BingX is a legitimate business is strong on its own terms, and we weighed it before settling on this verdict.
- It is demonstrably not a clone. Belgium's FSMA published a warning on 5 June 2023 about bingsaub.com and said in terms that the site is a malicious clone of UAB BingX EU at bingx.com and entirely unconnected with that company. A regulator naming your domain as the genuine one is about as clean an answer to the clone question as exists.
- The platform is real and at scale. It lists more than a thousand pairs, publishes an API, runs peer-to-peer markets, and has been the principal partner of Chelsea FC since 2024 and a team partner of Scuderia Ferrari HP from 2026. Sponsorships of that size do not survive a platform that does not pay out.
- Customer assets are independently attested. Reserve ratios are published above 100 per cent for the main assets, with proof-of-reserves reports attributed to Mazars and Hacken, and users can verify their own balance as a leaf in a Merkle tree for BTC, ETH and USDT. Most unlicensed exchanges publish nothing of the kind.
- It behaves like a firm trying to stay inside the lines, not one chasing banned markets. It excludes the United States, the United Kingdom, Canada, Singapore, the Netherlands and Hong Kong outright, withdrew from the Netherlands, and blocks its CFD product across most of the EU, Australia and New Zealand. That is the opposite of the pattern we usually see, which is an offshore platform aggressively soliciting exactly the countries whose rules it ignores.
- None of the regulator findings alleges that client money was taken. The Spanish, Malaysian and Indian actions all concern authorisation and anti-money-laundering registration. Many large exchanges that nobody regards as scams appear on the same kinds of lists.
- The complaint pattern has a visible innocent reading. Several of the locked accounts follow promotional voucher use or short bursts of fast profit, which is the behaviour an exchange's abuse controls are designed to catch. The company replies to most negative reviews, acknowledges delays and escalates cases, and there is no evidence of the one complaint type that admits no honest explanation: nobody reports being asked to pay a fee, a tax or a further deposit in order to release their funds.
What would change this
What we would need to see to revise the verdict.
These are the specific findings that would move this verdict, in either direction.
- Towards legitimate: an entry for a BingX entity on a real financial regulator's register covering the activity it actually sells, for example a European crypto-asset service provider authorisation, a Dubai VARA licence or an equivalent securities or derivatives licence, verifiable by number on that regulator's own register.
- Towards legitimate: the customer agreement naming a contracting company with a published registration number, registered address and disclosed ownership, so that clients know whose balance sheet holds their money.
- Towards legitimate: removal of the CNMV and Malaysian alert entries, or publication of the authorisation that makes them moot, plus registration with India's Financial Intelligence Unit.
- Towards legitimate: a visible drop in restricted-account complaints, with the specific open cases we found (accounts 37860708 and 26130515 among them) shown as resolved and paid.
- Towards scam: any credible, specific report that BingX required an extra payment, a tax or a top-up deposit before releasing a balance. One documented instance of that would change our assessment immediately.
- Towards scam: an enforcement action or court finding alleging misappropriation of client assets, a proof-of-reserves ratio falling below 100 per cent, or a withdrawal suspension that is platform-wide rather than account-specific.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
FCA Financial Services Register, search for BingX
Returns no entry, so there is no UK authorisation behind this brand.
CNMV warned-companies search, Spain
Shows the Spanish regulator's 20 February 2023 warning naming bingx.com.
IOSCO I-SCAN, keyword search for BingX
Aggregates the Spanish, Malaysian and Belgian alerts in one place.
Securities Commission Malaysia investor alert update
Records BingX being added to Malaysia's investor alert list on 4 December 2023.
India Ministry of Finance release on offshore crypto platforms
Names BingX Limited among 25 platforms issued non-compliance notices on 1 October 2025.
FINTRAC Money Services Business Registry, Canada
Filter for BingX to see registration M21534025 recorded as ceased on 7 December 2023.
ABN Lookup record for BingX Global Pty Ltd
The Australian company registration, which carries no financial services licence.
BingX page on its Panama registration
The company's own disclosure of Nieve Cruz PA Corporation and its 11 March 2025 registration.
FSMA Belgium warning about a BingX clone site
The Belgian regulator identifies bingx.com as the real company and bingsaub.com as the clone.
Trustpilot reviews of bingx.com
The per-domain review page, 1.5 out of 5 across 762 reviews.
Frequently asked questions
Quick answers about this broker’s safety.
Is BingX a scam?
We did not find evidence that BingX is a scam. It is a genuine, large trading platform that processes withdrawals for most of its users, and no regulator or court has found that it took client money. We rate it high risk for a different reason: it holds no financial licence in any country, so if your account is restricted there is no supervisor to appeal to.
Is BingX a fraud?
No regulator or court has found BingX guilty of fraud, and we found no fraud-related enforcement action or court record naming the company. What exists are authorisation and anti-money-laundering findings: a Spanish warning about bingx.com, a Malaysian alert listing, and an Indian non-compliance notice. Those concern paperwork and permission, not theft.
Is BingX regulated?
No. We found no financial-services licence for BingX on any register. The UK register returns no entry for the name, there is no Australian financial services licence, and the company does not appear in the European register of authorised crypto-asset service providers. What exists are company registrations in Panama, Lithuania and Australia, plus money services business registrations, and one of those (Canada) ceased on 7 December 2023.
Can I withdraw my money from BingX?
Most users can, and the volume of positive reviews and the size of the platform make that clear. But there is a persistent minority of cases where an account is restricted by the risk control team and the balance stays inside. We read dated reports with account numbers and amounts, including 300,000 US dollars reported inaccessible since 14 July 2026 and a case BingX itself described as a year without clear resolution.
Is my money safe on BingX?
It is not protected the way money at a licensed firm is. There is no compensation scheme and no ombudsman because there is no licence. BingX does publish proof of reserves above 100 per cent with reports attributed to Mazars and Hacken and a Merkle tree check you can run on your own balance, which is better than most unregulated exchanges offer, but it is a voluntary disclosure rather than a legal protection.
Who owns BingX and which company do I contract with?
The customer agreement, last updated 2 September 2026, is between you and Nieve Cruz PA Corporation, a company registered in Panama's Public Registry on 11 March 2025. The agreement gives no address or registration number for it. Other group entities include BingX Limited in the British Virgin Islands, UAB Bingx EU in Lithuania, BingX Global Pty Ltd in Australia and BingX CA Limited in Canada. Beneficial ownership is not disclosed on the site.
How old is BingX?
The brand dates to 2018 and traded as Bingbon until it was renamed BingX in November 2021. The bingx.com domain was registered in April 2015 and bingbon.pro in April 2019. The oldest group company we could date was incorporated in November 2021, so the verifiable operating record is roughly five years, even though the brand presence is longer.
Is BingX available in the United States, the United Kingdom or Canada?
No. BingX's own disclaimer lists the United States and its territories, the United Kingdom, Canada, Singapore, the Netherlands, Hong Kong, Macau, mainland China, Cambodia and Panama among its restricted jurisdictions. Its CFD product is additionally blocked across most of the EU, Australia and New Zealand. Our own record showing the United States as this broker's home country is wrong and is being corrected.
Has any regulator warned about BingX?
Yes, three. Spain's CNMV listed bingx.com as an unauthorised firm on 20 February 2023. Malaysia's Securities Commission added BingX to its investor alert list on 4 December 2023, with the stated reason being operation of a digital asset exchange without registration. India's Financial Intelligence Unit issued a non-compliance notice to BingX Limited on 1 October 2025, together with takedown notices for the apps and websites.
Is BingX a clone of another company?
No, and a regulator has said so directly. Belgium's FSMA published a warning on 5 June 2023 about bingsaub.com, describing it as a malicious clone of UAB BingX EU at bingx.com and entirely unconnected with that company. A separate look-alike name, X-Bingx, appears on a Canadian caution list with no website given, and we have not attributed it to this platform.
What are BingX's licence numbers actually worth?
The numbers associated with this brand are company registrations, not licences. Lithuania's 305995741 is the company code of UAB Bingx EU, registered on 28 January 2022. Panama's folio 155764276 is a company registration and tax ID. A money services business registration, which BingX announced for the United States and Canada in 2022, is an anti-money-laundering registration. None of them authorises running an exchange or selling CFDs, and none of them protects your deposit.
Does BingX offer forex and CFDs or only crypto?
Both. Alongside spot crypto and perpetual futures, BingX sells CFD futures on gold, crude oil and forex, plus stock and index exposure it markets as TradFi. Its own page says the legal classification of those products is a matter for the regulator where you live, and it names no licence for them.
What should I check before depositing on BingX?
Confirm you are on bingx.com or bingx.pro and not a look-alike. Read the restricted-jurisdiction list and do not sign up around it. Decide a balance you are comfortable being unable to touch for weeks, and withdraw above it. Read the sections of the customer agreement on account holds and forfeiture. Keep your UID, order IDs and deposit references from day one.
What do I do if my BingX account is restricted and my funds are locked?
Open a support ticket and keep every reply, then post a public, dated account with your UID, the amounts and the timeline. BingX responds to most public complaints and has escalated cases that way. Because there is no licence, there is no regulator or ombudsman that can order a payout, so your remaining routes are the arbitration clause in the agreement, which seats disputes in Hong Kong, your own payment provider if a card or bank transfer was involved, and the police or financial crime unit where you live.
What we recommend
The practical takeaway from everything above.
Treat BingX as an unregulated venue and size your exposure accordingly.
- Assume there is no safety net. With no licence in any jurisdiction, there is no compensation scheme, no financial ombudsman and no regulator to escalate a frozen account to. Your contract is with a Panamanian company and your disputes go to arbitration in Hong Kong.
- Do not hold more on the platform than you are willing to lose access to, and withdraw profits promptly rather than letting a balance build up. The complaints that worry us most involve large balances sitting on restricted accounts.
- Be careful with promotional vouchers, bonus positions and rapid high-leverage activity on a new account. A striking share of the restriction cases we read began immediately after exactly that.
- Keep your own records: deposit references, order IDs, your account UID and dated screenshots of support exchanges. The complaints that got traction were the ones with that detail attached.
- Check the address bar every time. Clones of this brand are documented, and a Belgian regulator has already published one. Only bingx.com and bingx.pro served the real platform when we checked.
- If you are in the United States, the United Kingdom, Canada, Singapore or the Netherlands, the platform excludes you by its own terms. Signing up through a workaround puts your balance at risk from the platform's own compliance checks, which is the single most common trigger in the complaints we read.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 10, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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