BingX Restricted Countries List and Where BingX Is Banned

If you live in one of 21 jurisdictions, BingX will not open or keep an account for you. The list covers the United States, the United Kingdom, Canada, mainland China, Hong Kong, Singapore and the Netherlands, plus sanctioned states such as Iran and North Korea.

That list has not changed since December 2023. Much around it has shifted. BingX now blocks commodity perps in extra regions, South Korea blocked its website in October 2026, and its new EU entity won a MiCA licence in Austria.

This guide covers the full list, product limits, regulator actions, licences, KYC rules and the best alternatives if BingX is closed to you.

Which Countries Does BingX Restrict?

The 21 jurisdictions are named in the BingX Risk and Compliance Disclosure, last updated on 11 December 2023. The BingX Customer Agreement applies that list to anyone who is "a resident or passport holder" of a listed country.

Sanctions explain part of the list. Iran, North Korea, Cuba and the occupied Ukrainian regions sit under comprehensive US sanctions programmes, so no compliant exchange serves them. Licensing explains most of the rest, since the US, UK, Canada, Singapore, Hong Kong and the Netherlands run regimes that BingX's global platform does not hold.

Mainland China bans crypto trading outright. Yinfa [2026] No. 42, a joint notice from the People's Bank of China and seven other agencies dated 6 February 2026, replaced the 2021 ban. It bars foreign platforms from serving mainland users in any form.

No country has been added or removed in 2025 or 2026. The BingX Mini Terms and Conditions of 10 February 2026 repeat the list word for word.

Panama is the odd entry. BingX's global contracting entity, Nieve Cruz PA Corporation, is a Panamanian company registered on 11 March 2025, yet Panamanian residents remain on the restricted list.

Where Can You Use BingX?

Anywhere outside the 21 listed jurisdictions, you can open a BingX account and trade spot, perpetual futures and copy trading once you pass identity checks. BingX publishes no supported country list. In December 2025 it claimed 40 million users.

Australia, Japan, South Korea, India, Germany, France, Spain, Brazil, Turkey, Nigeria, Vietnam and the UAE are all absent from the list. Absence does not make BingX legal there, as the government actions below show.

Fiat deposits run through StellarExchange Pty Ltd, a BingX group company registered with Australia's AUSTRAC, and through third-party payment providers under their own terms. Card, bank and P2P options differ by country. BingX also says KYC benefits "may vary in certain regions".

BingX scores 7.3 out of 10 in Coinperps' BingX exchange review, ranking 9th of 19 exchanges. Fees are 0.02% maker and 0.05% taker, leverage reaches 125x on crypto perps, and the exchange lists 176 perpetual markets.

Which BingX Products Are Restricted by Region?

Even where BingX accepts you, some products may be off for your country. The Disclaimer warns that restrictions "may vary from service to service".

• Futures in the US: section 8.2 of the Customer Agreement requires futures traders to confirm they are not from the US, on top of the platform-wide ban.
• Commodity perps: gold, silver and oil perpetuals are not available in the UAE, the Czech Republic, Indonesia, the UK, Canada, the US, Hong Kong, Singapore, Cuba, North Korea, the Middle East, Taiwan and Austria.
• Stock and other TradFi pairs: BingX says these are available only in compliant regions and names no countries, so check the trading page.
• BingX Card: the card terms limit it to residents of supported countries, and physical cards go only to selected customers.

None of the UAE, the Czech Republic, Indonesia, Taiwan or Austria is on the main list, yet traders there lose gold and oil perps. Compare the best TradFi perpetual exchanges first if TradFi perps are why you picked BingX.

The EU picture shifted in October. Austria's Financial Market Authority authorised MEGE zweite GmbH, trading as BingX EU, as a crypto-asset service provider on 13 October 2026, according to ESMA's interim MiCA register. Custody, crypto-for-cash and crypto-for-crypto exchange, and transfers are covered, passported to 28 EEA countries.

Perps fall outside it, because MiCA does not regulate derivatives. Spain and Malta are missing from the passport list. The Netherlands is included, even though the global platform still excludes Dutch residents. By mid-October BingX EU had announced no launch date, according to Finance Magnates.

Which Governments Block or Warn Against BingX?

Your government can restrict BingX even when BingX accepts you. Three countries outside BingX's own list have acted against it.

Blockhead reported that South Korea's block took effect on 13 October 2026 and also named KuCoin and MEXC. Earlier app store limits on unregistered exchanges came first.

In India, the Financial Intelligence Unit sent its notices under the Prevention of Money Laundering Act, TechCrunch reported, though most of the named platforms stayed reachable at the time. Malaysia's warning is still live on the Securities Commission Investor Alert List.

Elsewhere the record is cleaner. Japan's Financial Services Agency has not named BingX on its list of unregistered overseas exchanges, and the 2025 blocks in the Philippines and Thailand left it out. Belgium's FSMA has warned about a "BingX (cloned firm)", so confirm you are on bingx.com before logging in.

Is BingX Available in the US, UK and Canada?

No. US, UK and Canadian residents cannot use BingX for spot, futures, copy trading or any other service.

The US ban goes furthest, covering all US territories and minor outlying islands. Section 2(e) of the Customer Agreement also makes every user confirm they are not a US or Canada user. Older claims of a BingX FinCEN money services business registration do not hold up, because no BingX entity appears on the current FinCEN MSB register.

UK residents face a double barrier. Besides BingX's own list, the Financial Conduct Authority has banned the sale of crypto derivatives to retail consumers since 6 January 2021. When the FCA reopened crypto ETNs to retail, it confirmed in 2025 that the derivatives ban "will remain in place".

Canadians are excluded by both the restricted list and the eligibility clause. Under CSA Staff Notice 21-332, registered crypto trading platforms in Canada cannot offer margin or leverage to clients either.

Regulated options for all three countries appear in the alternatives section below. For what each regulator allows, see Coinperps' guide to crypto perpetual futures regulation.

What Licences Does BingX Hold?

BingX holds a few registrations, but none lets it serve the countries on its restricted list. Coinperps rates its regulatory standing 5 out of 10.

Both Australian entities appear on the AUSTRAC virtual asset service provider register. That registration covers anti-money laundering duties only. It is not a financial services licence from ASIC.

Several older claims no longer stand. A Lithuanian VASP registration lost its value once Lithuania's MiCA transition ended, and Italy's OAM no longer publishes a virtual currency register to check. Hong Kong's list of licensed virtual asset trading platforms does not include BingX.

On security, BingX lost an estimated $43 million in a hot wallet exploit on 20 September 2024, The Block reported, and said it would cover user losses. Its proof of reserves snapshot of 15 October 2026 shows 143.42% for BTC, 123.93% for ETH, 127.36% for USDT and 125.87% for USDC.

Does BingX Require KYC, and Can You Use a VPN?

Yes. You need identity verification to deposit or trade on BingX, and a VPN cannot change the country on your ID even if it hides your IP address.

According to its KYC benefits page, BingX now runs two tiers. The rules took effect on 19 November 2024 and are rolling out region by region.

One older page disagrees. BingX's perpetual futures limits page still caps unverified users at 5x leverage and 2,000 USDT positions on some assets, so check the limits shown in your own account.

Verification checks where you live as well as where you connect from. Your documents must reflect your "primary physical country of residence" under the Customer Agreement, and the country you enter must match your ID. Applications from restricted jurisdictions fail with a "Country/Region Regulatory Restrictions" reason.

VPNs never appear by name in the terms, yet the terms cover the same ground. Section 5.3 bans accounts opened to circumvent them. Section 8.3.2 lets BingX review linked devices, IP addresses and access patterns, and section 11 allows it to suspend an account, freeze funds or limit you to withdrawals, with seven days to withdraw after closure.

Closure for breaking the terms or the law carries a bigger risk. In that case, section 11(b) says BingX keeps full custody of the funds, which may pass to the authorities. Traders who want lighter checks can weigh the trade-offs in Coinperps' guide to no-KYC perpetual futures exchanges.

Best BingX Alternatives by Region

Where you live decides the right alternative. Most countries BingX excludes have their own licensing rules, and those rules decide whether retail traders can use leverage at all.

United States

Kraken is the strongest US option. In June 2026 it launched CFTC-regulated perpetual futures for eligible US clients through Bitnomial and Kraken Derivatives US, covering BTC, ETH, SOL, XRP and five more assets.

Coinbase offers perpetual-style futures at up to 10x. Kalshi lists a BTC perpetual at up to 6x after a CFTC order of 29 May 2026. Coinperps' guide to using Binance Futures in the USA compares these venues.

United Kingdom

While the FCA ban stands, UK retail traders cannot lawfully trade crypto perps anywhere. Kraken and Coinbase are both registered with the FCA for spot. Kraken's futures are open only to clients who qualify as professional, through a Bermuda-licensed entity.

Canada

Spot crypto is available on registered platforms such as Wealthsimple, Bitbuy, Kraken and Coinbase Canada, all listed by the Ontario Securities Commission. None of them can offer leverage to retail clients.

Netherlands and the EU

For Dutch and other EU traders, Kraken is the first choice. It holds a MiCA licence through the Central Bank of Ireland for spot and offers perps at up to 10x in the EEA through a CySEC-licensed entity, as Coinperps' guide to crypto futures platforms in Europe sets out.

Bitvavo, authorised by the Dutch AFM, is the local spot alternative. On 9 March 2026 Coinbase opened EU futures in 26 countries, the Netherlands among them. Coinperps keeps a full list of MiCA licensed exchanges.

Singapore and Hong Kong

The Monetary Authority of Singapore's consumer protection rules bar retail leverage on crypto, so Coinbase, OKX SG and Gemini offer spot only. In Hong Kong, the SFC limits perpetual contracts to professional investors, leaving retail traders with licensed spot platforms such as OSL and HashKey.

Sanctioned Jurisdictions and Mainland China

Residents of Iran, North Korea, Cuba or the occupied Ukrainian regions have no lawful alternative. Every regulated exchange blocks them, and OFAC fined Kraken $362,158.70 in 2022 for serving users in Iran. Mainland China's 2026 notice also bans all crypto trading services.

Bottom Line

BingX restricts the same 21 jurisdictions it listed in December 2023, led by the US, UK, Canada, mainland China, Hong Kong, Singapore and the Netherlands. The rules around it changed in 2026.

Product limits now reach past the main list, South Korea blocks BingX's website, and the new Austrian MiCA licence covers spot services but not perps. In a restricted country a VPN puts your funds at risk, which makes a regulated alternative such as Kraken or Coinbase the safer choice.