BingX vs Bybit 2026: Fees, Copy Trading and Licences Compared

BingX and Bybit get lumped together a lot, and on paper they look like the same product: offshore perpetuals exchanges, 100x-plus leverage, copy trading, mobile-first apps, no US customers. Dig into the details and they split in a way that actually matters for your money. Bybit is the bigger, deeper, better-licensed venue. BingX is slightly cheaper for takers, has a far larger copy-trading roster, and is available in a few markets Bybit has walked away from. This guide puts the two side by side using fee schedules and terms checked in mid-2026, then works through a real monthly fee example so you can see where the difference lands.

Head-to-head: BingX vs Bybit at a glance

Feature	BingX	Bybit
Spot fees (VIP0)	0.10% maker / 0.10% taker	0.10% maker / 0.10% taker
USDT-M perpetual fees (VIP0)	0.02% maker / 0.05% taker	0.02% maker / 0.055% taker
Max leverage	Up to 125–150x depending on pair	Up to 125x standard (200x on a limited "smart leverage" product)
Spot assets listed	900+	Roughly 700–800 pairs; broad altcoin coverage
Registered users (own figures)	40M+	80M+
Copy trading	Yes, 400,000+ lead traders (BingX figure)	Yes, smaller roster, futures-focused
Trading bots	Grid, DCA, futures grid	Grid, DCA, futures grid, martingale
Regulation / licences	AUSTRAC DCE registration (Australia); FCIS VASP registration (Lithuania); not MiCA-authorised	MiCA CASP licence (Austria FMA, EEA passported); UAE SCA; Dubai VARA approval; Kazakhstan AFSA; India FIU
Restricted regions (main ones)	USA, UK, Canada, Singapore, Netherlands, Hong Kong, Macau, mainland China, sanctioned countries	USA, Canada, Singapore, Hong Kong, mainland China, Uzbekistan, sanctioned territories; UK via limited entity only
Welcome offer	5,685+ USDT welcome gift in tiered, conditional rewards (30 / 500 / 500 USDT headline cards), mostly futures trial funds and vouchers	Deposit- and volume-based bonus tasks, mostly vouchers
Referral rebate for new users	20% permanent fee rebate with a code	One-off vouchers; no standing fee rebate
Proof of Reserves	Published	Published

The table already tells most of the story. The two are tied on spot, BingX is marginally cheaper on futures takers, Bybit has roughly double the user base and a much stronger licensing file. Everything below is about what those differences mean in practice.

Fees in practice: a 50,000 USDT/month worked example

Fee schedules are easy to skim and easy to misread, so here is a concrete scenario. Assume you trade 50,000 USDT of notional volume per month on USDT-M perpetuals, all as a taker (market orders or limit orders that cross the spread), on the standard tier with no token discounts.

	BingX	Bybit
Taker rate	0.05%	0.055%
Fees on 50,000 USDT notional	25.00 USDT	27.50 USDT
Referral rebate	20% back on the 25 USDT, credited daily	None on an ongoing basis
Annualised difference (before rebate)		Bybit costs 30 USDT more per year at this volume

Two things to take from this. First, the raw gap is small: 2.50 USDT a month on 50k of volume. If you trade ten times that, it becomes 25 USDT a month, which starts to be real money but is still not the reason to pick one exchange over the other. Second, the BingX referral rebate is what changes the picture. Because it comes off every fee-bearing trade for as long as the account exists, it compounds into a lower effective taker rate than anything Bybit offers a non-VIP user. The mechanics are in our BingX referral code guide and you can plug your own volume into the fee calculator.

Now the caveats, because this is where marketing tables mislead people:

• Maker fees are identical at 0.02%. If you mostly rest limit orders, the two exchanges cost the same.
• Bybit's VIP ladder kicks in at lower volume thresholds than BingX's for some tiers, and at VIP3 and above Bybit's taker fees drop below BingX's standard rate. High-volume traders should compare the VIP tables directly rather than the headline numbers.
• Funding rates are set by the market on each exchange and can differ by a few basis points on the same pair. Over a month of holding leveraged positions, funding usually outweighs the taker-fee gap entirely.
• Withdrawal fees are network-based on both and change often. Check the live fee page on each exchange before moving large sums; a full breakdown of BingX's side is in our fees explained guide.

Products and copy trading

Core products

Both exchanges cover the same ground: spot, USDT-margined and coin-margined perpetuals, grid and DCA bots, earn products, launchpad-style events, P2P fiat on-ramps and a demo account. The differences are in depth rather than breadth.

Bybit has the deeper order books. On BTC and ETH perpetuals, Bybit's top-of-book liquidity is consistently among the best outside Binance, which means tighter spreads and less slippage on large market orders. If you regularly move six-figure positions, that slippage saving is worth more than the fee difference in BingX's favour. Bybit also offers options, a pre-market futures product for unlaunched tokens and a wider range of Earn structures.

BingX lists more spot assets (900+ against Bybit's smaller list) and tends to list small-cap tokens earlier. Its maximum leverage tops out at 150x on a handful of pairs against Bybit's 125x, though anyone trading at either number is one wick away from liquidation and should read our futures guide and use the liquidation calculator first.

Copy trading

This is BingX's strongest hand. The exchange built its reputation on copy trading and it shows: BingX cites 400,000+ lead traders and 1.3 billion+ cumulative copy orders. The follower controls are more granular than Bybit's. You can set a fixed amount per copied trade, a stop-loss on the copy relationship as a whole, follow multiple traders at once and filter leaders by drawdown, win rate, follower count and holding period.

Bybit's copy trading is competent but narrower. The lead-trader pool is smaller, it is futures-only, and the filtering tools are less detailed. Bybit's counter-argument is that a smaller, more curated pool has fewer obviously reckless "leaders" chasing follower fees. That is partly fair: BingX's sheer size means you must vet leaders carefully and ignore the leaderboard's top ROI figures, which are usually one lucky high-leverage month. Our copy trading guide covers how to filter for consistency instead.

Verdict on this section: Bybit for liquidity and product depth, BingX for copy trading and small-cap listings.

Security, regulation and availability

Security

Both exchanges publish Proof of Reserves and hold the bulk of customer funds in cold storage. Both offer 2FA, anti-phishing codes, withdrawal address whitelists and device management.

Bybit's record has a large asterisk: the February 2025 Bybit hack, in which roughly 1.4 billion USD in ETH was stolen from a cold wallet during a routine transfer. Bybit covered every customer balance in full within days using its own treasury and bridge loans, and withdrawals never stopped. That is the best possible outcome of a worst-case event, and the exchange arguably came out with more credibility than before. But it happened, and it is the largest crypto exchange theft on record.

BingX suffered a hot-wallet breach in September 2024 in the range of 45 million USD. It also covered user losses and resumed withdrawals within a day or two. Smaller incident, same conclusion: both exchanges have been tested and both made customers whole. Our safety review goes deeper on the BingX side.

Regulation and licences

Here Bybit is clearly ahead. Bybit EU GmbH holds a MiCA Crypto-Asset Service Provider licence from Austria's FMA, passported across the EEA, and the group has approvals in the UAE, Kazakhstan, Georgia and India. That means an EU resident using bybit.eu is dealing with a MiCA-supervised entity, with the segregation and disclosure rules that come with it.

BingX has AUSTRAC registration in Australia (BINGX GLOBAL PTY LTD, reg. 644804571) and a VASP registration with Lithuania's FCIS through BINGX EU UAB. Those are real registrations, but registration is not the same as authorisation, and BingX was not MiCA-authorised as of mid-2026. For most of the world this does not change the daily trading experience, but if you specifically want a MiCA-licensed venue, Bybit is the answer.

Availability

Neither serves the United States. Beyond that, the lists diverge:

• BingX blocks: USA, United Kingdom, Canada, Singapore, Netherlands, Hong Kong, Macau, mainland China, and a list of sanctioned or high-risk countries (Iran, North Korea, Cuba, Afghanistan, Myanmar, and others).
• Bybit blocks: USA, Canada, Singapore, Hong Kong, mainland China, Uzbekistan, Iran, Syria, Sudan, North Korea, Cuba and the occupied Ukrainian territories. UK users are served only through a limited-scope local arrangement.

If you are in the Netherlands, Bybit's EU entity is an option and BingX is not. If you are in the UK, neither is a clean option for retail derivatives. For most of Asia, Latin America, Africa, the Middle East and the rest of Europe, both are available and your choice comes down to the other factors here.

Who this is not for: if you live in any of the restricted regions above, do not try to route around the block with a VPN. Both exchanges run KYC and will freeze withdrawals from accounts that turn out to be in a blocked jurisdiction.

User experience

Both apps are polished. Bybit's interface is denser and more configurable, with a unified trading account that lets you use spot holdings as collateral for derivatives and net your margin across positions. Power users tend to prefer it. BingX's app is simpler, which is an advantage if copy trading or straightforward perpetuals are your main use, and a mild disadvantage if you want multi-asset margin and complex order types.

Support quality is similar: 24/7 chat on both, English-first, with response times that stretch during volatility. Bybit's help centre is more thorough. BingX's KYC is quick (Basic tier usually clears in minutes to a few hours) and the verification guide covers what to expect; Bybit's is comparable.

On deposits, Bybit has more fiat rails, including card purchases and bank transfers in more currencies through its EU entity. BingX leans on P2P and third-party card providers, which works but costs a bit more in spread.

Who should pick which

Pick Bybit if you:

• Trade large size on majors and care more about slippage than a half-basis-point fee difference
• Live in the EEA and want a MiCA-licensed entity
• Want options, pre-market futures or a unified margin account
• Prefer a denser, more professional interface

Pick BingX if you:

• Are mainly a taker on perpetuals and want the lower 0.05% rate plus a permanent 20% rebate
• Want the widest possible copy-trading pool and fine-grained follower controls
• Trade small-cap altcoins that list earlier on BingX
• Are in a country Bybit excludes but BingX serves, or vice versa

Neither, if you: are in the USA, UK or another blocked jurisdiction, or want a fully regulated, insured account of the kind a bank offers. Offshore perpetuals exchanges are not that.

Verdict

Bybit is the more complete exchange. Deeper books, better licensing, more products, twice the user base. If someone asked which of the two they should trust with a serious portfolio and gave no other detail, Bybit is the safer default.

BingX wins two specific arguments, and they are not small ones. It is cheaper for futures takers, and once you factor in a standing 20% referral rebate the effective gap widens further than the 0.05% vs 0.055% headline suggests. And its copy-trading ecosystem is the biggest in the industry, which matters if that is the reason you are opening an account. Plenty of traders keep both: BingX for copy trading and altcoin perpetuals, Bybit for size on majors.

If BingX fits your use case, create a BingX account with code PENDING so the rebate is attached from day one; our registration walkthrough shows the exact field, and the welcome bonus guide explains which parts of the "5,685+ USDT welcome gift" are realistically reachable. And if you are still weighing alternatives, the BingX vs Binance and BingX vs OKX comparisons cover the other two exchanges most people shortlist alongside Bybit.