Summary: BingX enforces strict access restrictions for users from countries under international sanctions, such as the USA, UK, China, Singapore, the Netherlands and Canada, to comply with global regulatory standards and ensure user security.

Despite these limitations, BingX supports users in over 150 countries and offers a comprehensive trading platform with mandatory KYC verification, spot and futures trading, and over 750 crypto assets.

What Countries Does BingX Restrict?

BingX restricts users from certain countries due to international trade and economic sanctions. Specifically, it prohibits individuals on the UN Security Council Sanctions list, "Specially Designated Nationals" by the U.S. Office of Foreign Assets Control (OFAC), and those on the U.S. Commerce Department's "Denied Persons List." 

The platform also restricts users from countries on its Restricted Jurisdictions list to ensure compliance with local laws and regulations. These countries include the USA, the United Kingdom, Canada, the Netherlands, Singapore, China, Iran, Iraq, South Korea, and others.

What Countries Does BingX Restrict?

BingX Supported Countries

BingX supports users from over 150 countries globally and offers services in more than 15 languages, making it accessible to a diverse international audience.

The platform welcomes individuals from regions including Europe, Asia, Africa, and Australia. Users can create accounts, engage in spot and futures trading, participate in copy trading, and utilize the various tools and features offered by BingX.

BingX Licenses

BingX Group is an international digital services financial institution with branch offices in the EU, Australia, Hong Kong, and Taiwan. The group has registered or obtained regulatory approval to operate in various countries, ensuring compliance with local regulations.

  • Australia: BINGX GLOBAL PTY LTD is registered as a Digital Currency Exchange (DCE) provider under the Australian Transactions and Reports Analysis Centre (AUSTRAC). Registration No.: 644804571, License No.: 100725677-001.
  • Lithuania: BINGX EU UAB is a registered financial service company and is regulated by the Financial Crime Investigation Service (FSIC) as a digital currency exchange. Registration No.: 305995741, License No.: 4400-1839-5132.

Does BingX Enforce KYC?

Yes, BingX enforces Know Your Customer (KYC) verification to provide a secure, transparent, and compliant trading environment. The platform offers a tiered KYC system with Basic and Advanced levels, each granting different benefits.

  • Unverified: No trading, with a 24-hour maximum withdrawal limit of 20,000 USDT.
  • Basic KYC: Allows trading when total deposits are within 2,000 USDT and a 24-hour maximum withdrawal limit of 20,000 USDT.
  • Advanced KYC: Unlimited deposits, full trading access, 24-hour maximum withdrawal limit of 5,000,000 USDT, and access to P2P and Launchpad services.

As of June 13, 2024, BingX has updated its KYC rules. New benefits are being gradually implemented by region. Users who complete higher-level KYC can enjoy higher deposit and withdrawal limits, providing greater flexibility in managing funds. Benefits may vary by region, and specific details can be found on the product page.

Does BingX Enforce KYC?

About BingX

BingX is a leading cryptocurrency exchange founded in 2018. It serves over 10 million users worldwide, focusing on providing a secure, transparent, and user-friendly trading experience. Regulated by Tier-1 authorities like AUSTRAC in Australia and with audited proof-of-reserves, BingX ensures high standards of compliance and security.

Offering a wide range of products, including spot trading, futures trading, and copy trading, BingX supports over 750 cryptocurrencies. The platform features a broad suite of products like Copy Trading, BingX Elite Trader Pro Program, and Spot Grid Trading, catering to novice and professional traders.

BingX

Bottom Line

In conclusion, while BingX provides a secure and versatile trading platform for users in over 150 countries, it enforces strict restrictions to comply with international regulations. Users from countries under economic sanctions, such as the USA, UK, Canada, and others, are prohibited from accessing the platform. This approach ensures compliance with global laws and prioritizes user security.