BingX broker 10% APY

Scam Broker Check 🛡️
1

Apparently BingX is registered and regulated in several countries, including Australia, which is considered a top regulator by BrokerChooser.

First of all, I would like you to double check this article, where you say BingX is not regulated and therefore don’t recommend it:

https://brokerchooser.com/safety/bingx-broker-safe-or-scam

Apart from that, my real question, they offer a 10% APY in many coins, up to 3000 USD, then 3%. For example, you get 10% annual interest paid in BTC for holding the equivalent to 3000 USD. They do this with many cripto, I’ve been a client for over 6 months and they pay, but there’s not much information about annual accounts or employees of BingX.

What’s your opinion?

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Screenshot_2024-08-06-19-25-41-292_pro.bingbon.app1080Ă—2400 142 KB

2

Hey there,

Thanks for your message. While BingX might be okay for some users, it doesn’t meet our stringent safety criteria. We only recommend platforms adhering to the highest standards ensured by top-tier regulation​. BingX isn’t regulated by top-tier authorities like the SEC (U.S.), FCA (UK), or ASIC (Australia). We focus on brokers regulated by these entities for their strict standards and strong investor protections​.

Regarding the APY Offer, BingX’s 10% APY on crypto up to $3000 can be attractive, and your positive experience is noted. However, these interest rates come with higher risks, especially without the stringent oversight that top-tier regulators provide.

Please let me know if you have any questions.

Best wishes,
Andris

1 Like
3

Hello Andris,

Thank you for your response. After verifying with the official source, I can confirm that BingX is indeed registered with ASIC (Australia). You can find the registration details here:

(https://connectonline.asic.gov.au/RegistrySearch/faces/landing/panelSearch.jspx?searchType=OrgAndBusNm&searchText=646052244)

(Note: A CAPTCHA is required to access the link. The relevant information is provided below).

BINGX GLOBAL PTY LTD is registered as a Digital Currency Exchange (DCE) provider under the Australian Transactions and Reports Analysis Centre (AUSTRAC) with the following details:

  • Registration No.: 644804571
  • License No.: 100725677-001

Given this, I believe the article should be updated:

(https://brokerchooser.com/safety/bingx-broker-safe-or-scam).

I conducted thorough research on BingX, and it holds a strong reputation on platforms like CoinMarketCap, CoinGecko, and CER.live. However, its reputation on BrokerChooser is negatively impacted due to the incorrect belief that it is not regulated by a top-tier authority. Based on the information above, this seems inaccurate.

So it does indeed meet your stringent safety criteria unless I am mistaken or have been misled.

Thanks for your time.