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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
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MEXC is a top-tier exchange, highly favored for its extensive range of cryptocurrencies and zero trading fees. Its advanced features, including bot support and a wide variety of trading options, make it ideal for experienced traders. However, the platform's complexity may present challenges for beginners, and it’s not available to U.S. users. Overall, MEXC is a robust platform for those looking to maximize their trading capabilities without high fees.
Overview
Quick Facts
MEXC is a top-tier cryptocurrency exchange founded in 2018, offering a high-performance trading platform with the largest range of 1,520 coins. It is especially great for traders just getting started with trading bots.
Informations
Pro's & Con's
- Cheap / No fees
- Large token selection
- Lots of features for traders
- Might be complex for beginners
MEXC
Features
Feature Overview
Unique Features
- Spot, futures trading options
- MEXC margin trading support, quantitative trading features
- Supports over 1600 coins and 2000+ trading pairs
Tradable Assets
- Cryptocurrencies
Trading Options
- Derivatives
- Margin trading (leverage)
- Futures
- Options
Our
MEXC
Review
Test Result
Conclusion
MEXC is a top-tier exchange, highly favored for its extensive range of cryptocurrencies and zero trading fees. Its advanced features, including bot support and a wide variety of trading options, make it ideal for experienced traders. However, the platform's complexity may present challenges for beginners, and it’s not available to U.S. users. Overall, MEXC is a robust platform for those looking to maximize their trading capabilities without high fees.
Customer Reviews
/ 5 average rating from -- reviews
Write a Review
Share your experience! Your review can help others make informed decisions. Let us know what worked well and what could be improved. Your feedback is valuable and will contribute to our community’s knowledge.
MEXC
User Reviews
The desktop platform is perfect for navigating, due to its detailed charts, and order views. If you are accustomed to other crypto platforms and exchanges, the MEXC terminal will feel second nature for the most part, but it isn't innovative and may not be the best platform for beginners.
MEXC is a competitive crypto exchange that can handle 1.4 million transactions per second. It offers a wide variety of tokens and 2600+ pairs of crypto. MEXC has localized support across 170 countries and regions.
The platform MEXC has received both positive and negative reviews. Nevertheless, it is still well regarded according to some beginners that have tried it out. In terms of user experience and ease of use, it is considered the best among users that are just starting to get a handle of the crypto world.
MEXC has exceptionally low trading fees for both takers and makers. Moreover, it offers various time-windows where trading fees are reduced to 0%.
MEXC has faced criticism from some users who claim that their withdrawal requests aren't processed quickly or that their accounts have been frozen without explanation. These reports have been contradicted by others praising MEXC for having low costs and many different assets.
Opinions on the quality of MEXC's customer support are extremely polarized. Some reports have praised them for giving quick, effective aid, while others complain about slow response times and unsatisfactory solutions.
MEXC is known for its low trading fees, which can sometimes be as low as 0%. One of the reasons why some people love it is because of its powerful transaction capabilities. While some consider the platform to have an easy interface, others have mentioned issues with withdrawals and account verifications. Customer support opinions are polarized, suggesting room for improvement in service quality.
About
MEXC
MEXC
MEXC Review: In-Depth Analysis and Features of the Crypto Exchange
The MEXC exchange, formerly known as MXC, is a crypto exchange founded in 2018 to facilitate cryptocurrency trading, buying, and selling. It is headquartered in Seychelles, and its CEO is John Chen.
Since its launch, MEXC has expanded its services to over 170 countries, and the platform boasts over 10 million active users. A unique feature of the MEXC exchange is its high-performance engine, which enables it to handle over 1.4 million transactions at lightning speed. Further, three years after its launch in 2021, the MEXC exchange snatched the “Best Crypto Exchange Asia” award at the “Dubai Crypto Expo.”
As a global crypto exchange, MEXC offers its users a wide range of services, including P2P trading, spot trading, futures trading, copy trading, and demo trading for beginners. The MEXC exchange's easy-to-use application interface also makes it suitable for accommodating crypto experts and newbies with little or no knowledge of crypto trading.
Users?
Score
MEXC’s Services and Features
Spot Trading
MEXC’s Spot Trading Interface
The MEXC exchange features a spot trading interface that supports over 2,300 cryptocurrencies and 2,800 trading pairs. The platform’s spot trading interface allows users to access cryptocurrencies with large market capitalizations, like Bitcoin and Ethereum, and cryptocurrencies with small market capitalizations, like Phala and Dodo.
Copy Trading
MEXC’s Copy Trading Interface
On MEXC, copy trading takes two dimensions. A trader can choose to be a follower or a lead trader. Followers pick a lead trader and allocate some of their funds to the lead trader. Whenever the lead trader initiates a trade, MEXC automatically copies and executes that trade using the allocated funds. However, followers pay the lead trader 15% of their earnings as a commission. When picking a lead trader, MEXC allows a follower to see information about the trader's performance, including total PNL (profit and loss) and total win rate.
P2P Trading
MEXC’s P2P Trading Interface
The peer-to-peer trading services on MEXC allow traders to deal directly with other users, buying and selling cryptocurrency with the preferred local currency of their region. Since the trade is between two individuals, no transaction fee is incurred.
MEXC currently only supports four cryptocurrencies for P2P trading (BTC, ETH, USDT, and USDC) and three fiat currencies (RUB, KRW, and VND). Further, the exchange uses an escrow system, which helps to protect both buyers and sellers from fraud. In addition, MEXC supports over 30 different payment methods, allowing users to choose the one that suits them the most.
Quick Buy/Sell (MEXC Express)
MEXC’s Express Trading Interface
MEXC Express is a fast and convenient way to buy cryptocurrency with credit and debit cards, SEPA, and even third-party payment providers like Simplex. However, MEXC only acts as a marketplace to connect traders with third-party providers.
Perpetual Futures Trading
MEXC’s Perpetual Futures Trading Interface
Perpetual futures trading involves an agreement to buy or sell a cryptocurrency at a specific price and a fixed date in the future. The futures trading platform on MEXC supports over 300 futures contracts, and traders can maximize their profits with the 200x leverage on trading with exchange offers.
MEXC offers two main types of futures contracts: USDT-Margined perpetual futures and Coin-Margined perpetual futures. Also, the exchange offers advanced order types, which are more sophisticated than the basic order types on the spot market. The orders are Trailing Stop Orders, Trigger Orders, and Post Only Orders.
Demo Trading
MEXC’s Demo Trading Interface
The demo trading feature on MEXC allows inexperienced futures traders to try different trading strategies without risking their money. MEXC provides a simulated trading environment where the traders have a virtual balance of 50,000 USDT. The funds are then used to practice trading futures contracts like they would in a real market, and as an added advantage, the traders have access to market data, charts, and order types.
MEXC’s Supported Coins
The MEXC global exchange currently supports over 2,300 cryptocurrencies from various niches, including RWA, DeFi, AI (Artificial intelligence), and the Metaverse. Some cryptocurrencies available are Chainlink, Bitcoin, Ethereum, Filecoin, XRP, Polkadot, and MX, the platform’s native token.
MEXC’s Trading Fees
MEXC offers a competitive maker-and-taker trading fee for both spot and futures trading. Traders pay a 0% maker fee and a 0.1% taker fee on all spot trading pairs. However, the current 0% maker fee is promotional and could increase to its original 0.1% soon. In the futures market, traders pay 0% maker fees and 0.01% taker fees.
MEXC’s Security and Regulations
Knowing that security is essential to any platform, the MEXC exchange has taken rigorous measures to protect the platform and its users. These measures include two-factor authentication, cold storage, and penetration testing.
- Two-factor authentication (2FA): 2FA is an extra layer of security that requires a second verification whenever a user logs into their account.
- Cold Storage: MEXC stores some of its asset holdings in a cold storage (a wallet not connected to the internet), which gives the exchange a measure of resistance to cyber hacks.
- Penetration Testing: MEXC regularly tests its system to identify weaknesses that make it vulnerable to cyber-attacks.
MEXC’s Deposit and Withdrawals
MEXC doesn't charge users for deposits, but traders may incur additional network fees depending on the cryptocurrency the user is depositing. However, MEXC has a fee structure for each blockchain network for withdrawals. The average fee for most networks is less than a dollar, and the exchange currently enables free withdrawals for the TON network.
On the MEXC exchange, there are limits for both withdrawals and deposits for crypto and fiat. Users using credit or debit cards for deposits can only deposit as high as 1,250 USD, 2,000 EUR, and 1,750 GBP in a single transaction. For a crypto transaction, the MEXC limit is based on the user's verification level. A user with basic verification can withdraw up to 80 BTC, and institutional accounts with the highest withdrawal limits can withdraw as high as 400 BTC.
MEXC’s Stake and Earn Services
MEXC offers users the possibility of earning on their crypto assets through staking and crypto loans. Users interested in staking can go for flexible staking, which allows them to withdraw their funds anytime. Alternatively, users can commit their funds for a specified period with fixed staking.
Either way, stakers can earn up to 50% APR. The loan option on MEXC also enables traders to let their tokens work for them by using them as collateral to borrow crypto loans. However, if they fail to pay back the loan in due time, MEXC liquidates the collateral to pay back the loan.
How to Start with the MEXC Exchange (Registration, Verification, and Funding)
Getting started on the MEXC exchange involves three easy steps, and they are:
- Registration: To do this, you only need to head to the MEXC website, click “sign up,” and register with your info.
- Verification: The next step is to provide accepted government-issued identification documents and a selfie for the Know Your Customer (KYC) verification process.
- Funding: After verification, you can fund the account by depositing fiat or cryptocurrency using any of the exchange's supported deposit methods.
Pros and Cons
Pros
- Users enjoy up to 200x leverage on the futures market.
- MEXC has a competitive maker and taker fee of 0% and 0.1%, respectively.
- Users can earn passive income through staking.
- The platform's copy trading and bot trading features suit beginner traders.
Cons
- A few countries, including the United States and Canada, are restricted from accessing its services.
- MEXC does not support many local fiat currencies.
FAQs
Does MEXC Require KYC Verification?
MEXC urges users to complete the Know Your Customer verification process, as verified users have more access to the exchange's features and a higher withdrawal and deposit limit. However, users can still access certain features without completing KYC.
Does the MEXC Exchange Have a Native Token?
Yes, MEXC features the MX token as its native token.
Is the MEXC Exchange Safe?
MEXC has implemented several security measures to protect its platform from cyber-attacks.
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
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