The following analysis of Bingbon (official website: https://bingbonexchange.com/) is based on available information from web sources, focusing on online complaints, risk level assessment, website security, WHOIS lookup, IP and hosting, social media, red flags, regulatory status, user precautions, and potential brand confusion. Note that some information indicates significant concerns about Bingbon’s legitimacy, including its apparent inactivity and scam allegations. This analysis aims to provide a comprehensive overview while critically examining the available data.

1. Online Complaint Information ¶

• Complaints and User Feedback:
• Multiple sources report severe user complaints about Bingbon, including allegations of it being a scam. Users have claimed that Bingbon absconded with funds after defrauding clients, with some stating they were scammed and had no recourse to report the broker.
• Specific complaints include the platform shutting down without notice, leaving users unable to access funds. One user noted relief at the platform’s closure, hoping it would prevent further scams.
• The Spanish regulator CNMV (Comisión Nacional del Mercado de Valores) has blacklisted Bingbon, further supporting scam allegations.
• Limited customer support is another recurring complaint, with no phone numbers or email addresses provided for direct contact, only a Facebook presence, which undermines trust.
• Assessment:
• The volume and severity of complaints, combined with regulatory blacklisting, suggest a high likelihood of fraudulent activity. The lack of responsive customer support exacerbates these concerns, as users have no clear avenue for resolving issues.

2. Risk Level Assessment ¶

• Risk Indicators:
• No Regulation: Bingbon operates without any valid regulatory oversight, which is a significant risk factor. It does not fall under the supervision of any recognized financial authority, increasing the potential for mismanagement or fraud.
• Non-Functional Website: The official website (https://bingbonexchange.com/) is reported as inactive or dead, severely undermining the platform’s credibility and usability.
• Scam Allegations: User reports and regulatory warnings (e.g., CNMV blacklisting) indicate that Bingbon may have engaged in deceptive practices, such as absconding with client funds.
• High-Risk Features: Bingbon offers high-leverage trading (e.g., up to 100x on perpetual contracts) and cryptocurrency derivatives, which are inherently volatile and risky. Without regulation, these features amplify the potential for significant financial loss.
• Risk Level: High
• The combination of no regulation, a non-functional website, scam allegations, and regulatory blacklisting places Bingbon in a high-risk category. Users face substantial financial and operational risks when engaging with this platform.

3. Website Security Tools ¶

• Security Measures:
• No specific information is available regarding Bingbon’s website security tools, such as SSL encryption, two-factor authentication (2FA), or anti-phishing measures. This lack of transparency is concerning, as reputable brokers typically disclose such details to build trust.
• The non-functional status of the website (https://bingbonexchange.com/) suggests that any security measures, if they existed, are no longer operational.
• Assessment:
• The absence of verifiable security measures and the website’s inactivity indicate a lack of commitment to user safety. This is a major red flag, as secure platforms are critical for protecting user data and funds in online trading.

4. WHOIS Lookup ¶

• WHOIS Data:
• The domain bingbonexchange.com was registered on December 21, 2020.
• The domain uses privacy protection services to conceal ownership details, which is common but can be a red flag for platforms seeking to remain anonymous, especially in the context of scam allegations.
• Assessment:
• Concealed ownership, combined with the platform’s short operational history and scam allegations, raises concerns about transparency. Legitimate brokers typically provide clear corporate information to establish trust.

5. IP and Hosting Analysis ¶

• IP and Hosting Details:
• The website bingbonexchange.com is hosted on the IP address 104.18.29.60, located in the United States. This IP hosts 34 domains, which is not unusual but could indicate shared hosting, potentially reducing security.
• Hosting is provided by a US-based service, but no further details about the hosting provider’s reputation or security standards are available.
• Assessment:
• The use of a US-based IP and shared hosting is not inherently problematic, but the lack of detailed hosting security information, combined with the website’s inactivity, limits confidence in the platform’s infrastructure.

6. Social Media Presence ¶

• Social Media Activity:
• Bingbon’s customer support is reportedly limited to a Facebook presence, with no mention of other platforms like Twitter, LinkedIn, or Telegram.
• The lack of a robust social media presence is unusual for a trading platform, as legitimate brokers typically maintain active accounts on multiple platforms to engage users and provide updates.
• No recent social media activity is documented, likely due to the platform’s inactivity or shutdown.
• Assessment:
• A limited social media presence, restricted to Facebook, is a red flag, especially given the platform’s reported closure and scam allegations. Legitimate exchanges maintain active, multi-platform engagement to build trust and transparency.

7. Red Flags and Potential Risk Indicators ¶

• Key Red Flags:
• Regulatory Blacklisting: The CNMV’s blacklisting of Bingbon is a critical warning, indicating that the platform has been identified as a potential scam.
• No Regulation: Operating without oversight from any financial authority increases the risk of fraud and mismanagement.
• Non-Functional Website: The official website’s inactivity suggests that the platform is no longer operational, potentially after defrauding users.
• Lack of Transparency: Concealed ownership, limited contact options, and no corporate address or leadership details indicate an intent to remain anonymous, a common trait of scam platforms.
• User Complaints: Reports of scams and fund losses, with no clear recourse, highlight operational failures.
• Unrealistic Promises: Some sources note that Bingbon’s offerings (e.g., high leverage, low fees) may have been used to lure users, a tactic common in scams.
• Assessment:
• The presence of multiple, severe red flags strongly suggests that Bingbon is not a trustworthy platform. The CNMV blacklisting and user scam reports are particularly damning.

8. Website Content Analysis ¶

• Content Overview:
• The website (https://bingbonexchange.com/) is currently non-functional, preventing direct content analysis.
• Historical data indicates that Bingbon offered features like copy trading, demo accounts with virtual currency (100,000 VST), and trading in cryptocurrencies (e.g., Bitcoin, Ethereum), commodities, forex, and indices.
• The platform emphasized low fees (0.05% taker, 0.02% maker) and high leverage (up to 100x), which could attract inexperienced traders but also increase risk.
• Risk warnings were present in some promotional materials, acknowledging the high volatility and potential for loss in cryptocurrency and derivatives trading.
• Assessment:
• While Bingbon’s offerings (e.g., copy trading, demo accounts) appear user-friendly, the non-functional website and scam allegations overshadow these features. The emphasis on high leverage and low fees may have been designed to attract users without adequately highlighting risks.

9. Regulatory Status ¶

• Regulatory Oversight:
• Bingbon has no valid regulatory licenses and does not operate under the supervision of any recognized financial authority. ASCR:2⁊
• The CNMV has explicitly blacklisted Bingbon, indicating it is considered a scam.
• The absence of regulation means there are no safeguards for client funds, no adherence to financial standards, and no legal recourse for users in case of disputes.
• Assessment:
• The lack of regulation, combined with a regulatory blacklist, is a critical concern. Regulated brokers are subject to strict oversight, ensuring client fund segregation and transparency, which Bingbon lacks. This significantly increases the risk for users.

10. User Precautions ¶

• Recommended Precautions:
• Avoid Engagement: Given the non-functional website, scam allegations, and regulatory blacklisting, users should avoid interacting with Bingbon or any associated platforms.
• Due Diligence: Always verify a broker’s regulatory status with recognized authorities (e.g., FCA, ASIC, CySEC) before depositing funds. Check for valid licenses and avoid platforms with no oversight.
• Check Reviews: Seek user reviews on reputable platforms (e.g., Trustpilot, ForexPeaceArmy) to gauge reliability. Bingbon’s negative feedback and scam reports are a clear warning.
• Secure Platforms: Use brokers with transparent security measures (e.g., SSL, 2FA) and clear contact options. Bingbon’s limited support and inactive website are red flags.
• Start Small: If using a new platform, start with a small deposit to test withdrawal processes. However, this is not advisable for Bingbon due to its high-risk profile.
• Consult Professionals: Seek advice from financial advisors before engaging in high-risk trading, especially with unregulated platforms.
• Assessment:
• Users must exercise extreme caution with Bingbon. The platform’s risks far outweigh any potential benefits, and safer alternatives with proper regulation should be prioritized.

11. Potential Brand Confusion ¶

• Brand Confusion with BingX:
• Bingbon rebranded to BingX in November 2021, which may cause confusion among users. BingX (https://bingx.com/) is a separate entity, established in 2018, and claims to be regulated by AUSTRAC (Australia) and FinCEN (USA) as a Money Services Business.
• BingX offers similar features (e.g., copy trading, derivatives, spot trading) and has a more active online presence, including apps and a reported user base of over 10 million.
• However, BingX’s regulatory licenses (AUSTRAC, FinCEN) are not equivalent to oversight by top-tier financial regulators (e.g., FCA, ASIC), and users are still advised to conduct due diligence.
• Some users may mistakenly associate Bingbon’s negative reputation with BingX, or vice versa, due to the similar names and shared history.
• Assessment:
• The rebranding from Bingbon to BingX introduces significant brand confusion. Users must distinguish between the two platforms, noting that Bingbon’s website is inactive and blacklisted, while BingX appears operational but requires careful scrutiny due to its limited regulatory scope.

12. Additional Notes ¶

• Historical Context:
• Bingbon was established in 2018, initially based in Taiwan, and later registered in Estonia with offices in Vietnam, Korea, Japan, Russia, and Taiwan. It reportedly had 340,000 users and a daily trading volume of $500 million in China at its peak.
• Despite early success, the platform’s rapid decline, marked by scam allegations and website inactivity, suggests operational or ethical failures.
• Critical Examination:
• While some sources (e.g., scam analytics) gave Bingbon a high trust score, these are contradicted by user complaints, regulatory blacklisting, and the platform’s current state.
• The narrative of Bingbon as a legitimate broker is undermined by the lack of regulation, transparency, and operational continuity. The establishment narrative (e.g., promotional materials) should be approached with skepticism given the evidence of fraud.

Conclusion ¶

Bingbon (https://bingbonexchange.com/) presents a high-risk profile due to its lack of regulation, non-functional website, scam allegations, and CNMV blacklisting. Key red flags include concealed ownership, limited customer support, and severe user complaints about fund losses. The platform’s historical features (e.g., copy trading, demo accounts) are overshadowed by its apparent collapse and fraudulent activities. Users should avoid Bingbon entirely and opt for regulated alternatives with transparent operations and robust security. Potential brand confusion with BingX (https://bingx.com/) requires users to differentiate the two platforms carefully. While BingX appears operational and claims some regulatory oversight, it still warrants thorough due diligence due to its limited regulatory scope. User Precautions:

• Avoid unregulated platforms like Bingbon.
• Verify regulatory status with reputable authorities.
• Check user reviews and platform activity before engaging.
• Use secure, transparent brokers with clear contact options.
• Consult financial professionals for high-risk investments. This analysis is based on available data as of April 22, 2025, and reflects the critical need to prioritize safety and transparency in online trading.