I've read and seen about the BingX exchange, they are more focused on Margin Trading, if I'm not mistaken, BingX is mostly used in Taiwan, their company is established in Hong Kong or what is more famous about them is often called Bingbon.
After I browsed through a lot of information about BingX and I found something that set me back.
For example: from the experience of someone trading on the BingX exchange, about KYC named: @Hojer.
worst trading page even worse…
worst trading page even worse support!!!
support just answering in chinese / taiwan even when im from germany / speaking english in the chat
did the KYC process, even then so many errors and 3/3 guys from the support team tell me do KYC even i did it before and it got approved
Another complaint I've seen from user @Matt.
Scammers - putting minumums to steal your money
BingX app puts minimums for transferring and withdrawing money. I had 0.00089 ETH which is equivalent of 15$. There’s no way to get my money back from this platform as they put minimums ie 0.00089 is not convertible. I am not counting the high fees and recurring cuts for all transfers. (I’m a user from USA)
Stay away from these burglars!
What is certain is that wherever you trade with the Margin method, Spot is definitely a risk, not only on the BingX exchange, Now the decision is yours, if you want to use BingX exchange or not, more information is better for you to make your trading choice.