BingX Exposed: 5 Risky Downsides You must Know!

When it comes to trading platforms, trust and transparency are everything. But for many users, BingX has fallen dangerously short of both. In this article, we break down five serious, recent red flags reported by real users, which every investor or trader should be aware of before investing.

1. User Calls BingX Scammers

On August 2025, A frustrated user labeled BingX outright as “scammers” after claiming the exchange suspended trading of the LAI token without warning. The user reported he was neither paid for the tokens nor allowed to withdraw or transfer them to another wallet or exchange. He expressed anger at being locked out of his own assets with no resolution or communication from BingX.

2. Poor Customer Support & Misleading Guidance

Australian user described awful customer service while trying to resolve a P2P transaction issue. He claimed that after receiving less than expected in a transaction, BingX gave withdrawal advice without mentioning potential exchange rate fluctuations. When the user attempted to cancel, both the seller and BingX allegedly refused. Despite multiple appeals, he found the platforms support system faulty and unhelpful

3.User Alleges 'Honey Trap'-Style Scam by BingX

A user shared a shocking incident involving a BingX-verified “partner” who allegedly misused their status to gain trust and carry out a scam. While the user was asleep, this partner contacted the user's girlfriend—who had no knowledge of cryptocurrency—and manipulated her into opening a futures contract on a fake token. That token was later rug-pulled, resulting in a loss of $11,000. Despite providing detailed evidence and requesting action, BingX support redirected the user to other departments and failed to take responsibility. The user expressed outrage, claiming that the platform allows individuals to gain “partner” status without proper vetting, enabling them to exploit users for commissions.

4. Token Price Manipulation Allegation

A trader reported a massive loss after purchasing the WLFI token on BingX using a market order. While the token was trading at under $0.50 on major exchanges like Binance and Bybit, BingX executed the order at $2.80, causing a 90% loss. The user believes this was due to low liquidity and BingXs flawed index pricing system. He warns others to cross-check token prices on multiple platforms and avoid market orders on BingX.

5. Account Banned Without Explanation

, User from Indonesia, who relied on BingXs API for automated trading, found his account suddenly restricted for “illegal activity”. When he contacted support for clarification, he received unhelpful responses with no clear explanation. The user believes the ban was automatic and unjustified, and criticized the platform for its lack of transparency and poor customer service.

WikiFX Investigation

WikiFX, a well-known platform for reviewing and rating global forex brokers, has conducted an investigation into BingX, raising several serious concerns about the broker.

· Extremely Low Score

BingX has received a very low score of 1.53 out of 10 on WikiFX. This rating isn‘t just a number—it’s a clear warning that the broker may lack proper licensing, transparency, and security measures. A score this low signal major trust issues and potential risks for users.

· WikiFX Serious Warning

WikiFX has issued a direct warning about . Their message is simple and serious:

Warning: Low score, please stay away!

It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

The number of the complaints received by WikiFX have reached 4 for this broker. Please be aware of the risk!

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