MEXC is a top crypto trading exchange that enables users to buy, sell, and exchange their preferred digital assets. The cryptocurrency exchange has become popular because of its zero deposit fees and ease of use. Our MEXC exchange review will cover all of the platform’s unique features. Moreover, we will share our opinion on the MEXC global exchange, the features available, and whether it's a good crypto exchange to use.
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MEXC, formally recognized as MEXC Global, was launched in 2018 and is headquartered in Seychelles. The company serves more than 10 million customers across 170+ countries. The cryptocurrency exchange has continued to rebrand in the changing crypto industry, duly adopting the name MEXC exchange for easier brand recognition.
In 2019, the MEXC global exchange experienced explosive expansion. It was recognized as one of The Most Popular Trading Platforms by reputable blockchain media publications. The exchange was also awarded the Best Crypto Exchange Asia title at the Crypto Expo Dubai in 2021. The exchange even claims to hold about 5% of digital currencies' global market.
For experienced traders interested in the complex capabilities offered by the MEXC exchange, the platform offers substantial customer assistance. MEXC has a strong multilingual customer support team accessible on its homepage. Customers can easily reach out to the 24/7 support team via its live agents and a bot-like chat. Additionally, investors can submit a support ticket for a more detailed walkthrough of their queries.
Some of the top features of MEXC include:
- User-friendly trading app available for Android and iOS smartphones
- 1,500+ crypto lineup for spot trading
- Supports credit/debit card, wire transfer, P2P, and third-party payments
- Supports USD, EUR, and GBP fiat deposits
- Low trading fees using MX token
- Withdrawal fees are charged based on asset
- Offers spot, margin, futures, and perpetual trading
- Low minimum deposit
|Exchange Name||MEXC Global Exchange|
|Accepted Fiat Currency||USD, EUR, GBP, and several others|
|Fiat Deposit Methods||Credit/debit card, bank wire transfer, P2P, third-party payments|
|Supported Cryptocurrency||Bitcoin, Ethereum, Solana, Tether and 1,500+ others|
|Trading Fee||0%/0.2% (spot) and 0.02%/0.06% (Futures)|
|Mobile App||Yes (Android and iOS)|
Our MEXC Review - Quick Verdict
MEXC is a crypto exchange that offers a broad range of features and trading products. The user interface is well-balanced for buying and selling cryptos with reasonable liquidity and trading volume. It is more geared towards serious traders with its margin, Futures, P2P, automated trading bots, and copy-trader features. Investors will be disappointed as the platform does not support fiat withdrawals to cash out. In short, MEXC is a satisfactory trading platform that will meet the demands of a modern crypto trader.Start trading with MEXC
MEXC Pros and Cons
MEXC has a number of strengths that makes it a good platform to trade crypto. However, there are limitations such as it prohibits USA traders from creating an account and does not offer direct fiat withdrawals to bank accounts. Moreover, fiat withdrawals can only be executed on third-party platforms or exchanges, reducing the platform's convenience.
Here is a quick summary of the pros and cons of the MEXC platform.
- Good altcoin platform with 1,500+ cryptocurrencies to trade
- Accepts more than 20 fiat currencies to fund an account
- Advanced trading platform with a fast matching engine
- Offers 0% spot trading maker fee and competitive Futures fee
- Leveraged EFT's are unique in the market
- No direct bank withdrawal option
- Limited assets for its Quick Buy/Sell feature
- Is not supported in the United States
- Average customer ratings on review websites
Review of the Top Features on MEXC
Supported Crypto Assets
With each new project launch, the cryptocurrency market continues to grow. To ensure its customers gain access to the best and most promising cryptocurrencies, MEXC Global operates a rapid coin listing system. The exchange lists 1,588 crypto assets and 2,500+ trading pairs in total at the time of writing. Investors can trade assets like Bitcoin, Ethereum, and Cardano on MEXC. This is beneficial for investors who are keen on diversifying across several cryptocurrencies making MEXC an ideal altcoin trading exchange.
Crypto Markets To Trade
One of the most important discoveries while researching for this MEXC exchange review is the plethora of trading options available on the platform. MEXC has several trading options, including spot trading, margin trading, futures, perpetual contracts, automated trading, and copy trading.
In particular, the derivatives and margin trading crypto platform offers Leveraged ETFs (exchange-traded funds) focused on cryptocurrencies for 1,000+ assets, MX-DeFi for mining rewards from retained tokens, and a staking platform. In short, MEXC has one of the most feature-packed services. However, this list of services is mostly targeted at professional users familiar with the crypto space and its offerings. As for beginners, the expansive list of trading products could be overwhelming.
Like the best social network and copy-trader platforms for crypto, MEXC has joined suit and enabled this service for its users. Individuals can find and copy the most profitable crypto traders on the MEXC platform and replicate their trades. The top traders can be filtered by their total PNL, win rate, total equity, or the number of followers. While it is not as popular compared to eToro which boasts a large number of social traders, it's a useful feature on MEXC for beginners. Although, the quality of the traders on the social platform is questionable with data missing for some of the featured traders.
Leveraged and Index ETFs
Another unique platform feature is the Leveraged ETFs service – an ETF trading targeted at cryptocurrencies. MEXC customers can trade over 1,000 digital currencies with up to 5X leverage. This increases a user’s purchasing power and could also boost potential profit on a correct market prediction. Its Index ETFs allow investors to diversify their portfolios by investing in multiple assets. This includes the Grayscale Index, Major Crypto Index, and DSA Index, among others.
MEXC has recently launched a testnet for its users to demo trade cryptocurrencies and experience the platform before funding an account with real funds. The practice account can be loaded with up to $50,000 USDT in virtual funds. The user interface mimics that live platform with real-time crypto prices and the ability to place orders and execute positions like normal. The demo mode can be toggled within the same platform, unlike other testnet's for crypto which require a separate login. To see how the MEXC demo account compares, read this article on the best free crypto demo accounts to use.
0% Trading Fees
Investors consider the trading fees charged by cryptocurrency exchanges before signing up. Naturally, traders seek platforms that provide excellent services and charge affordable fees, so profits can be maximized. Given this, most crypto exchanges charge incredibly low fees to attract investors.
MEXC differentiates itself from its competitors by offering no fees on the spot market. This is a promotion that applies to all spot trading pairs on MEXC. For instance, an individual can place an order to buy Bitcoin without paying any fees. Its futures derivative trading also starts at a minimal transaction cost of only 0.02% and 0.06% for makers and takers respectively which is good value for money. For a list of other crypto exchanges that charge no fees, read this article next.
Earn Yield on Deposits
MEXC has a profit-yielding platform called 'Earn' for investors to put idle digital assets to work. Users can earn anywhere between 0.7% to 7% APY on MEXC’s earning service. This includes interest accounts, mining pools, and cryptocurrency staking to name a few.
Locked staking comes with higher yields and has a maximum annual percent yield (APY) cap of 18% compared to the best staking platforms. This is a great way to generate passive income with minimal effort, as the customer only needs to lock up their assets for a specific period.
Besides this, MEXC offers the MX-DeFi earning service, which allows investors to earn mining rewards from their coins. This one-day period offers up to 12% APY on decentralized finance (DeFi) staking. There are other earning modules such as Trading Mining and Assessment Zone Voting which are more obscure products but provide good flexibility when it comes to earning rewards.
MEXC Alternatives & Comparisons
MEXC has low trading fees, impressive crypto support, and wide investing options targeted at beginners and pro traders alike. While MEXC shows a substantial lineup of crypto assets, the platform has an average rating of 3 out of 5 on the third-party review platform TrustPilot. This is understandable, considering the issues that plague MEXC. The platform is not available to US traders, its basic trade option (the Quick Buy/Sell) is limited, and it lacks direct fiat withdrawals.
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|Up to $100 welcome bonus||Visit Binance||Binance Review|
|81||0.06% / 0.01% (leverage), 0.1% (spot)|
|Deposit bonus up to $30,000||Visit Bybit||Bybit Review|
|Up to 500 USDT in bonuses||Visit KuCoin||KuCoin Review|
MEXC Global Exchange
|1,500+||Spot: 0% (maker) / 0.2% (taker), Futures: 0.02% (maker) / 0.06% (taker)|
|None available at this time||Visit MEXC Globa...||MEXC Global Exchange Review|
Is MEXC Regulated?
MEXC crypto exchange claims to be regulated in the regions it operates through its affiliates. Although we could not verify this independently in our review. Nonetheless, the platform upholds all international financial laws regarding anti-money laundering (AML) and terrorism financing and requires new customers to undergo a compulsory know-your-customer (KYC) verification process.
Volume and Liquidity
MEXC Global ranks top among the largest exchanges due to its daily volume trades. According to Coinmarketcap (CMC), MEXC has processed over $2 billion in the past 24 hours and is ranked the 13th largest exchange behind Huobi Global and CoinCheck. Of this, Bitcoin/USDT constitutes about 50% of all liquidity. This makes MEXC exchange a top choice for users looking to trade Bitcoin and their favorite altcoins without fear of slippage.
In line with other cryptocurrency exchanges, the MEXC exchange requires all users to complete a standard KYC verification process. For a start, this process is split into Primary and Advanced Verification. The MEXC platform only requires users to upload a copy of their official passport, driver’s license, or a government-issued ID card for Primary Verification. This would automatically increase a user’s withdrawal limit to 80 BTC daily.
The Advanced Verification requires users to fill in their personal information and complete a facial recognition exercise. This increases the withdrawal limit to 200 BTC per day. All these steps can be done using the MEXC app on Android and iOS devices. MEXC’s adherence to KYC best practices shows the platform’s intent to fight against all financial crimes.
Funding & Limits
MEXC enables users to fund their accounts with more than 20 fiat currencies, including USD, EUR, GBP, TRY, and others. Deposits can also be executed through credit/debit cards, bank wire transfers through SWIFT, automated clearing house (ACH), peer-to-peer (P2P), and even third-party payment platforms like MoonPay, Simplex, and Banxa. This gives investors much flexibility for depositing and withdrawing their assets.
There is no limit on crypto deposits, but fiat deposits are pegged at 100,000 USDT. Withdrawals are pegged at 200 BTC daily. Deposits are free, while withdrawal fees depend on the asset.
MEXC Trading & Ease of Use
The MEXC platform has a simple appearance for regular investors and a more advanced trading interface for sophisticated users. Below, we explore the charting experience and placing trades.
The standard trading interface of the MEXC exchange comes with a ‘Buy’ and ‘Sell’ icon on the bottom of the underlying asset. A ‘K-Line’ and ‘Token Info’ icon is superimposed by a constantly changing market order book to the left. Users also have access to a trading chart that covers a trading timeline of one minute up to a month.
Despite this being the basic trading interface, investors who are knowledgeable with indicators have access to moving averages (MA), moving average exponential (EMA), Bollinger band strategy (BOLL), and the Parabolic SAR (SAR) as the main ones. Other sub-indicators like moving average convergence and divergence (MACD), relative strength index (RSI), and real-time volume (VOL) are also available for use.
MEXC also allows users to customize all indicators supported by changing their colors and time lap. This interface is available for all supported coins on the platform, and users can execute their orders within seconds of placing them. MEXC has an advanced features for more sophisticated investors as it directly connects to the TradingView application programming interface (API).
Given that this is more sophisticated, the trading interface comes with more detailed and efficient charts showing the quantity of the underlying asset traded, the long and short buttons, and even more indicators. Investors also have the choice of trading at the last, current, and fair prices instead of the market price.
Additionally, professional users can use leverage to increase their potential returns and set trigger limits (TLs) for their trades. Also, MEXC has cross and isolated futures trading, giving investors more liquidity options in certain scenarios. In short, MEXC’s user interface is on par with several other crypto platforms in the industry.
To place an order on MEXC, a user must type the ticker symbol of the asset into the search bar and select a preferred trading pair on the ‘Spot’ market. Then, insert how much of the asset to purchase and choose between ‘Limit’ or ‘Market’ orders. Limit enables the user to customize their entry price to purchase the asset. When this is done, the exchange saves the order and automatically executes it when the price set is achieved.
On the other hand, a market order is executed immediately as the investor buys the asset at the current price. MEXC also allows users to set SL and TP positions and then click on either the ‘Buy’ or ‘Sell’ buttons to complete the trade. Overall, this can be done by anyone with basic computer skills within a 10-minute window.
MEXC charges 0% for maker and 0.2% for taker orders for buying and sell crypto on the spot market Taker orders can be further reduced with a 20% discount for investors holding the MX token. Users who enable settling their trading fees with MX tokens can reduce their spot trading fee down to 0.16%. The transaction costs are very competitive in the market and comparable to the likes of Binance which is one of the cheapest exchanges.
For futures trading, MEXC charges 0.02% (maker) and 0.06% (taker). This is quite economical and similar to the popular margin platform FTX. Like the spot market, paying with MX token offers a 10% discount when using leverage. Moreover, the fees can be slashed further depending on the monthly trading volume of the user to 0.014%/0.042% for investors with a volume of $500M and above.
Much like most of the best trading apps for crypto, MEXC has a standalone mobile app. This is convenient for investors who are always moving and prefer trading from their mobile devices on a 24/7 basis. The MEXC is available for download on Android and iOS devices. The app offers the same trading experience as the web-based platform to seamlessly buy and sell crypto assets and monitor a portfolio with minimal effort. Mobile users also use in-app support to reach out to customer service for guidance which is a useful feature.
Security of Assets
MEXC takes the security of users’ funds quite seriously. New accounts are required to complete KYC and enable 2FA using the Google App authenticator. Once this is done, an anti-phishing code is set up alongside a withdrawal whitelist. Withdrawals are only permitted once the 2FA requirements are met.
Mobile number and email verification are also set up to further improve the platform's security. Alongside this, the platform stores most of the crypto assets in a cold storage wallet, which is currently the safest means of securing crypto assets from cyberattacks.
Frequently Asked Questions
MEXC claims to be a legally operating crypto exchange. The Bitcoin trading platform regulates it directly and through its associated businesses in its operating regions. However, it is difficult to verify this claim.
MEXC secures customers’ funds and personal details with two-factor authentication (2FA), address whitelisting, anti-phishing, and password protection. These security features are baseline measures for a crypto exchange. Moreover, MEXC does not appear to have been hacked since it was founded.
All new users must upload a copy of their driver’s license, official passport, or government-issued ID card and complete a face verification exercise. Financial regulations dictate that Cryptocurrency exchange users are required to verify their identities according to Anti-money laundering laws.
MEXC is among the most popular cryptocurrency platforms and a top choice for many investors. The digital asset exchange charges zero fees for trading when using a limit order. It is user-agnostic and comes with deep liquidity and volume across its markets. It is also feature-packed and easy to use.
However, the MEXC exchange does not support fiat withdrawals, which is a major barrier for investors unfamiliar with crypto withdrawals. We also couldn't verify whether or not any global financial organization regulates the platform. Nonetheless, the exchange will suit the trading needs of the majority of crypto traders.Start trading with MEXC