BingX vs SimpleSwap

How BingX vs SimpleSwap compare on our ratings, exchange specs, funding, pros and cons.

BingX3.3/5
VS
Feature
Ratings
Our score3.3/54.1/5
User ratingNo reviews yetNo reviews yet
Fees3.53.0
Security & trust2.54.0
Asset selection4.55.0
Ease of use3.54.5
Support3.04.0
Specs
MarketsSpot, Futures, Copy tradingSpot
Maker fee0.02%Not disclosed
Taker fee0.05%Not disclosed
Coins listed5992,800
Fiat deposit methodsNot disclosedCard
KYC requiredNot disclosed No
Proof of reserves YesNot disclosed
Staking / earn YesNot disclosed
Mobile app Yes Yes
Licenses & registrationsAUSTRAC registration, Australia, FSC Mauritius license for CFD services, Mauritius, MiCAR license, EuropeNot disclosed
Security featuresMerkle Tree proof of reserves, Shield Fund, Futures insurance fundNon-custodial architecture, Direct wallet settlements
Futures & perpetuals Yes No
Copy trading Yes No
P2P market Yes No
Earn / savings products YesNot disclosed
User protection fund YesNot disclosed
Referral program Yes Yes
Company
Founded20182018
HeadquartersBritish Virgin Islands—
InvestorsNot disclosedNot disclosed
Strengths and weaknesses
Pros
  • 599 listed coins and 621 trading pairs
  • 0.02% perpetual-futures maker fee
  • Supports spot, futures, copy trading and traditional assets
  • Merkle Tree proof-of-reserves verification
  • No account registration required for standard crypto-to-crypto swaps
  • Non-custodial model delivers converted assets directly to personal wallets
  • Extensive catalog covering more than 2,800 cryptocurrencies
  • Choice between fixed guaranteed rates and floating market rates
Cons
  • Custodial exposure remains after the 2024 hot-wallet breach
  • Attackers stole approximately $44.7 million in September 2024
  • Perpetual futures add leverage and liquidation risk
  • Regional access and product availability vary
  • Built-in exchange spreads can exceed traditional spot order-book trading fees
  • Transactions flagged by automated AML risk scoring trigger sudden KYC holds
  • No order books, limit orders, futures, or margin trading
  • Fiat purchases rely on third-party processors with separate fees and verification
Best forMulti-asset market traders, Copy-trading users, Perpetual-futures tradersRegistration-free crypto-to-crypto swaps, Non-custodial cross-chain transfers, Trading rare altcoins without CEX balances

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