The question of which crypto exchange is “legal” in India has become one of the most confusing topics for investors since the 2024 regulatory shift.
If you are looking at BingX, you’ve likely noticed it offers a massive array of features, from crypto spot trading to derivatives and even forex pairs.
But as the Indian government and the Reserve Bank of India (RBI) tighten the noose around offshore platforms, the main question arises: is BingX legal in India?
Here is a deep dive into the legal standing of BingX in the Indian market.
Is BingX Legal in India or Not?
Globally, BingX operates as a legitimate platform by acquiring licences in various jurisdictions.
But in India, BingX operates as an offshore service provider. It does not hold any license or regulatory backing from Indian authorities.
BingX operates in a grey area.
Forex trading in India is regulated by strict rules. Only some platforms are allowed to provide forex trading for Indian users. It comes with various conditions like:
- Trading Forex on non-RBI-authorised platforms is strictly illegal in India.
- A forex trading platform is only legal if it offers forex pairs that include the Indian Rupee (INR).
But in the case of BingX, the platform is not authorised and doesn’t provide INR forex pairs.
This is because it is not made for people in India.
There are various legitimate forex trading platforms available for Indian users. If you want to protect your money, choose legal platforms.
The BingX app is often available on the Apple App Store or the Google Play Store for Indian users. It is only available in APK format. Downloading from third-party sites can be risky for your device and your privacy.
This is an important checkpoint whenever you are downloading any platform that requires you to deposit money.
Another major problem is that on October 1, 2025, FIU IND banned 25 offshore apps that are unregulated, and BingX is one of them.
Why was it banned by the Financial Intelligence Unit under the Prevention of Money Laundering Act 2002?
Because our government knows the app is not legitimate, you cannot rely on it or trust it unquestioningly.
FIU took this step because this app doesn’t comply with the country’s anti-money laundering rules. So the answer to your question is clear here that BingX is not legal in India, so you should be very careful about such apps.
Trading on such platforms as BingX that are not regulated exposes you to severe legal and financial dangers. These include:
Violations of FEMA (1999)
Under the Foreign Exchange Management Act, trading forex pairs that do not involve the Indian Rupee (INR) on offshore platforms is a punishable offence.
Bank Account Freezes
Indian banks will automatically freeze your account if it is linked to P2P trades on an unregulated platform, without prior notice.
No Regulatory Recourse
Because BingX has no physical presence or legal registration in India, you have zero protection under Indian Consumer Protection laws.
Tax Compliance Hazards
Any error in reporting these “untracked” trades to the Income Tax Department can lead to audits and heavy fines under Anti-Money Laundering laws.
Now you know that BingX is not legal in India, would you still want to invest in such an app or stick with the regulated ones?
BingX User Reviews
Users can trade spot and futures markets, emulate professional traders, and manage everything through a feature-rich mobile app on BingX, a global cryptocurrency exchange and social trading platform.
Doesn’t that seem exciting?
Let’s see what problems and issues people are facing while using this platform.
The frustrated user clearly states that this exchange never withdrew funds and sent multiple emails, but the issue was never resolved.
Now the question is whether the platform is legitimate; if so, why has the issue never been resolved, and why is the money not being withdrawn?
The user clearly claims BingX is a scam app.
Here is another victim of BingX who is facing the same withdrawal issue. Even after attempting to withdraw his funds, his account was locked, preventing him from trying again.
It signifies that this platform is a trap.
User reviews are a non-negotiable part of your due diligence; you wouldn’t invest your hard-earned money in a platform that has a history of causing trouble for others.
In fact, learning how to avoid crypto scams starts with identifying these patterns in user feedback.
Scammers often use “glowingly perfect” fake reviews or high-pressure tactics to drown out legitimate complaints, making it vital to look for independent, critical feedback on third-party forums rather than relying solely on a platform’s own website.
How to File Cryptocurrency Complaints in India?
If you have faced a withdrawal issue, an account block, or believe you have been misled by BingX, it is crucial to report it to the authorities to protect yourself and others.
Lodge a Complaint on the CyberCrime Portal:
File a report under the “Financial Fraud” category. Provide screenshots of your deposits, the platform’s refusal to pay, and any communication with their support.
Report to the FIU-India:
According to available information, BingX is not registered with the Financial Intelligence Unit (FIU-India). You can report their illegal operations directly via the FIU-India official portal.
This helps the government track and block non-compliant URLs.
Notify the RBI Alert List:
You can email the RBI to suggest the platform’s inclusion on their Alert List of Unauthorised Forex Trading Platforms.
This prevents other Indian citizens from falling into the same trap.
File an FIR:
If needed, you can file an FIR at your nearest police station. This will help in strengthening your case.
All you need to do is take all your evidence with you, such as screenshots of chats, pending withdrawals and promised rewards.
File a complaint with SEBI:
Alert SEBI to fraudulent activity and an unregulated investment scheme.
Need Help?
If you are also facing any issues after using BingX, you can register with us.
Our team will listen to your complaint and help you recover your money and get justice.
Conclusion
BingX is not a legal or compliant entity in India as of 2026.
While its interface might look professional, the platform’s refusal to register with the Financial Intelligence Unit (FIU-IND) and its unauthorised forex trading pairs place it directly on the government’s radar.
By using BingX, you aren’t just trading crypto; you are bypassing the Prevention of Money Laundering Act (PMLA) and FEMA guidelines.
In today’s digital age, “easy access” should never come at the cost of your financial security.
If you are currently using BingX, the safest move is to migrate your assets to an FIU-registered Indian exchange that protects your interests and follows the law.
