According to the company, BiKing Exchange has been registered in Singapore. Yet, without a transparent legal entity name, it’s hard to prove that in any register. Not to mention, they claim to have MSB registration in the US and Canada.
Yet, you can find too many irregularities once you start digging through the information. But don’t waste time because we have it all summed up in this BiKing Exchange review.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | |
| Have Warnings from: | N/A |
| Registered in: | Singapore |
| Operating since: | 2021 |
| Trading Platforms: | Proprietary WebTrader |
| Maximum Leverage: | 1:125 |
| Minimum Deposit: | N/A |
| Deposit Bonus: | Available |
| Trading Assets: | Cryptocurrencies |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Considering fake licenses, misleading and fake numbers in presentations, and most importantly, low transparency, you can only expect trouble with this company. In case your funds are on hold by this company, let our refund experts know if you want to get it back. |
Legal info: Is BiKing Exchange Legit or a Scam?
If BiKing Exchange is truly based in Singapore, it should primarily have a license from the MAS (Monetary Authority Service) of Singapore. Yet, they don’t. In any case, the company claims to have MSB dual licenses in the US and Canada. Indeed, the FINCEN register shows the company under the name BIKING, which was registered there in 2021.
However, there’s not a single indication that there is a connection to the bikingex.com crypto exchange. Not to mention that this exchange is hiding its registration address, which would solve this mystery. After all, even if they are truly registered there, that’s not enough since they also provide trading services. For these, they should have SEC or CFTC regulations as well.
Who are BiKing Exchange’s Victims?
Obviously, this company has been targeting richer destinations. Surprisingly, the ones that have quite strict regulatory oversight, such as:
- Australia
- United States
- United Kingdom
- Germany
Luckily, our BiKing Exchange review is there to keep you away from such endeavors. The company claims to have 1.2 million users, yet it has zero reviews. If you somehow end up scammed by this firm, our refund specialists are there to consult on how to get your funds back.
Leverage, Commissions, Spreads, Fees and Taxes
Important to realize is that BiKing Exchange doesn’t have transparent trading fees. Even though they advertise the lowest fees at 0.1%, that’s just a dream. After all, with all the misleading details, how can we trust anything they claim on their website?
Nevertheless, the most disturbing detail is that the leverage they offer for crypto trading is insanely high. While most exchanges limit it to 1:5, this company offers up to 1:125. That’s definitely not something that complies with any regulations. But to learn how to avoid such traps, read our RoyalDiam review.
Bonuses
Another disturbing detail is that the company offers USDT once you register with them. Yet, conditions for bonus credit have not been revealed. Generally, it’s better to stay away from anything that doesn’t seem legit. Another great example can be found in our FiveStarBit review as well.
BiKing Exchange Trading Features
Besides regular crypto exchange services, you can use the BiKing Exchange app for regular trading. You can use services such as spot, perpetual, grid, copy, bonus, or simulated futures trading.
However, with their unclear conditions and too many misleading information, none of these options seem reliable. Instead, we suggest you choose top-tier licensed firms to avoid any unpleasant surprises.
Trading Platforms Available
Once you complete the BiKing Exchange login procedure, don’t be surprised by their web-based platform. It’s perfectly designed to be user-friendly, simple and intuitive.
However, once you start trading and recognizing unexpected problems, you will also realize all the flaws of the platform. The key one is back-end manipulation.
Available Trading Assets
If you are interested in staking your crypto on the BiKing Exchange wallet, there will be plenty of options for you. With more than 400 tradeable cryptos, this is quite a refreshing thing about this firm. But if it was only legitimate…
Anyway, some of the most popular options are:
- Bitcoin
- Litecoin
- Shiba
- Doge
- Polkadot, etc.
Account Types
Even though the minimum deposit requirement is not declared, you can most likely start with anything above 1 USDT. Surprisingly, this company doesn’t have any VIP or Premium packages for its traders, which means we all get the same trading conditions. At least something fair with this firm.
Mobile Trading App
Whether you choose to exchange crypto or use BiKing Exchange futures trading options, their mobile apps for iOS and Android could be quite useful. However, with only 10k downloads on PlayStore and an average rating of 1.8 stars, there are clear signs there’s something wrong.
Demo Account
Considering the BiKing Exchange spot trading availability, inexperienced traders might find demo accounts quite useful here.
Thus, the company doesn’t bother wasting time with those clients. They only aim for your money. So, you can decide to go along that way or choose a far more transparent and reliable company. It’s up to you in the end.
Education
Trading crypto, especially with a leverage of 1:125 requires very strong knowledge of the matter. Sadly, with this exchange, there are no educational programs available. Keep in mind, that you are on your own here.
BiKing Exchange Withdrawal
Another key fact that causes problems is the BiKing Exchange withdrawal. Firstly, only crypto methods are available. Secondly, the company doesn’t reveal any fees for it. So, you can expect issues there in the first place.
If they don’t manage to get more money from you, they might come up with verification problems or AML law issues. All in all, if you don’t fall for any of their tricks, don’t be surprised if your account is closed.
Customer Support
Sadly, the company presents its support as available 24/7. Yet, if you send them a message via live chat, they are not required to respond immediately.
Another problem is that the company mainly communicates over the Telegram group. By the way, that same group has only a bit over 3.5k members. That tells you the truth about the company’s 1.2 million users.
Key Information To Consider About BiKing Exchange?
Firstly, the company is misleading us with regulation details. Secondly, they are using shady platforms, non-transparent conditions, and extremely dangerous leverage. All in all, there are zero reasons to trust them. To be fair, we know what’s that all about and it’s quite easy to get scammed if you are not experienced.
So, if you have money stuck with the BiKing Exchange scam company, let us know. At least you will help other traders get away from them. But also, you can start the refund process with our professional assistance without any headaches. Book the first meeting for free and find out all the necessary steps.
FAQ Section
What is BiKing Exchange?
BiKing Exchange is allegedly a Singaporean crypto exchange that has been operating since 2021.
Is BiKing Exchange Legit?
Absolutely not. The BiKing Exchange is not regulated by the SEC or CFTC in the first place. Also, they are misleading traders in numerous ways.
What is CipherTrace?
With the CipherTrace tool, you can track your crypto transfers and start the refund process way more easily. For detailed guidance, talk to our refund specialists.
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