MEXC review
MEXC is a centralized exchange offering 0% maker fees on spot trading, and it lists Monero. The platform mandates KYC to use its services. Without verifying identity, deposits may remain as restricted funds and withdrawals could be blocked until real-name verification is completed. By completing primary KYC with a document photo, users can withdraw up to 80 BTC in crypto per day. MEXC does not provide services or register users within the US. In our view, MEXC suits altcoin and Monero traders willing to undergo a document verification process.
ID always
MEXC always asks for ID, per its own pages.
Choose MEXC if
Who MEXC suits, from the values on this page.
MEXC suits you if
- You want Monero: MEXC lists it.
- You want to pay or get paid over Lightning.
MEXC might not be the right fit if
- You want to skip ID checks: MEXC's terms let it ask for ID.
- You do not want an account: MEXC needs one.
- You live in the US: MEXC is not available there.
- You want a service with no incident on record: MEXC had one in 2026.
Inside MEXC
- Platforms
- Apps listed in the App Store and on Google Play (app_rating_ios and app_rating_android, checked today)
What you get with MEXC
Yes, no or partly, from our dataPrivacy 0 of 6
- No IDNo
- No accountNo
- Tor built inNot statedNot statedMEXC's own pages we checked do not say. This is not the same as no.
- Onion addressNoNone published
- I2P addressNoNone published
- Works without JavaScriptNot statedNot statedMEXC's own pages we checked do not say. This is not the same as no.
Coins 4 of 4
- BitcoinYes
- MoneroYes
- LightningYes
- ZcashYes
Custody and code 0 of 3
- You hold the keysNot statedNot statedMEXC's own pages we checked do not say, checked Oct 14, 2026. This is not the same as no.
- Open sourceNot statedNot statedMEXC's own pages we checked do not say, checked Oct 14, 2026. This is not the same as no.
- Address screeningNot statedNot statedMEXC's own pages we checked do not say. This is not the same as no.
When can MEXC ask for your ID?
Always, per MEXC's own pages. Labels come from each provider's terms, never from our guess.
- 1Never, by designNo company holds your order, so nobody can ask
- 2Only if you chooseID only for extras you opt into
- 3If a payment is flaggedNo ID by default; checks when a risk system flags you
- 4Above a limitID once you pass a stated amount
- 5AlwaysMEXC is on this stepID before you trade, deposit or withdraw
If a check comes and you do not pass it
Deposits of unverified accounts can be held as restricted funds that are not credited until real-name verification. Users who cannot verify can apply for the return of restricted funds (Application for Return) or file a Withdrawal Appeal Form; once approved, the account keeps only withdrawal and position-closing permissions. The self-service "Unable to Complete KYC - Account Closure" releases restricted funds (about 10 minutes after approval), leaves a seven-day asset handling period with withdrawals and position closing only, then permanently freezes the account. The User Agreement lets MEXC suspend, close or delete an account whose identity verification is not completed.
“If you are unable to complete real-name verification, you can go to the Application for Return page and submit the required information to apply for the return of your restricted funds. [...] Once approved, your account will retain withdrawal and position-closing permissions only, and you will no longer be able to use other account functions. [...] Seven days after the application is approved, the account will no longer have access to MEXC services and will be permanently frozen. [...] The User agrees that if the identity verification procedure for his/her/its User account fails to be completed, MEXC has the right to terminate the supply of User account services without prior notice to the User, and MEXC may promptly suspend, close or delete the User account and all relevant materials and files in the User account.”
What triggers a check: Access to products and services in general; crediting of deposits (pop-up: funds are restricted and cannot be credited before real-name verification); withdrawals (pop-up: complete real-name verification before continuing with withdrawals); trading, depending on the region; fiat trading (P2P) and platform events (Primary or Advanced KYC)
Not stated on MEXC's pages: fee on refusal, refund policyMEXC's own pages we checked do not say. This is not the same as no.
Checked October 23, 2026
What MEXC costs
| What | MEXC |
|---|---|
| Trade fee | Spot: maker 0%, taker 0% to 0.05% depending on the pair; crypto deposits free; withdrawal fee fixed per coin and network (BTC on the Bitcoin network 0.00002, Lightning 0.000001, XMR 0.000317) |
| No-ID limit | None published: MEXC states no trading or withdrawal allowance for unverified accounts; not completing KYC may restrict deposits, withdrawals and trading depending on the region (on-screen prompts in the account) |
What MEXC knows about you
Who sees what during a trade, and who runs it.
During a trade
No ID check does not make a bank payment private.
Network and who runs it
- Requests from authorities
- MEXC may freeze funds or take any action a law enforcement agency or regulator requires and may report prohibited businesses
- Warrant canary
- Not published
Checked October 22, 2026
Track record and code
No hack found; MEXC states no major security or theft incident since 2018. Five regulator actions or warnings and one press-reported account freeze.
Incidents
- 2026May 26, 2026: FSA Seychelles enforcement action against MX Global Ltd as the unlicensed operator of the MEXC platform.
- 2025Sep 24, 2025: Dutch AFM public warning: MEXC provides crypto-asset services in the Netherlands without a MiCAR licence; ESMA non-compliant list (decision 2025-09-16); MEXC winds down services for Netherlands users.
- 2025Jul 2025: Account of the trader The White Whale (about $3 million) suspended in July 2025, released after a public apology in October 2025 (press).
- 2025May 30, 2025: Ontario Securities Commission investor warning (not registered in Ontario).
- 2024Mar 15, 2024: Hong Kong SFC list of suspicious virtual asset trading platforms.
- 2023Oct 17, 2023: BaFin consumer warning: financial services on mexc.com without authorisation.
- Audits
- Proof of reserves audit: Hacken, 2026-10-09
Checked October 14, 2026
More facts we checked on MEXC
- Log retention
- Kept under the Personal Data Protection Act or other laws, then destroyed or anonymised; trade data may be kept after an account is frozen
- Onion address
- Not published
- I2P address
- Not published
MEXC in the US and elsewhere
In the US
US availability: Not available
- Blocks US IPs
- Terms: MEXC does not serve or register users in the United States
If you are a US person, US sanctions rules apply to you whether or not a service asks for ID.
Outside the US
Where MEXC does not serve
16 places in its terms
North Korea
Cuba
Sudan
Iran- Mainland China
Singapore
Malaysia- the United States
- the United Kingdom
- Hong Kong
- Kazakhstan
Russia- the Russian-controlledregions of Ukraine (currently including Crimea, Donetsk, Luhansk, Zaporizhzhia, Kherson, and Sevastopol)
Belarus
Canada- country or territory subject to comprehensive economic or trade sanctions administered by: (i) the European Union; (ii) OFAC; or (iii) FATF "Blacklist"
Show all 16 places+10 moreShow fewer
Regional rule: Not statedMEXC's own pages we checked do not say. This is not the same as no.
- Site blocks by region
- Prohibited: North Korea, Cuba, Sudan, Iran, Mainland China, Singapore, Malaysia, the US, the UK, Hong Kong, Kazakhstan, Russia, Russian-controlled regions of Ukraine and FATF blacklist countries
Where you live and the provider's terms
Many services on this page do not serve every country. Some exclude people because of where they live or their citizenship, not only where they connect from. Read the provider's terms before you send funds. If the terms exclude you, do not use the service, and do not try to get around the restriction, for example with a VPN.
Taxes
A service that does not ask for ID does not change your taxes. In the US, the federal income tax return asks a yes-or-no question about digital assets, and you must report digital asset transactions whether or not they result in a gain or loss. In the UK, you may owe Capital Gains Tax when you sell, swap or spend crypto, and you must keep your own records. Rules in other countries differ.
No KYC is not anonymity
"No KYC" here means the provider says it does not ask for ID in the cases its terms describe. It does not make you anonymous. MEXC's terms say it can ask for ID in these cases: Access to products and services in general; crediting of deposits (pop-up: funds are restricted and cannot be credited before real-name verification); withdrawals (pop-up: complete real-name verification before continuing with withdrawals); trading, depending on the region; fiat trading (P2P) and platform events (Primary or Advanced KYC). Regulated exchanges you send funds from or to may have to collect information about who sends and who receives a crypto transfer. Your tax duties stay the same.
Funds can be held
If a provider asks for more information during a swap or a withdrawal, it may hold your funds until it gets it. Its terms decide what happens next. In the UK, a crypto business that asks for information on a transfer to or from a self-custody wallet, and does not receive it, must not pass the funds on. Read what the provider's terms say before you send. MEXC's terms say that if a check is requested and not completed: deposits of unverified accounts can be held as restricted funds that are not credited until real-name verification. Users who cannot verify can apply for the return of restricted funds (Application for Return) or file a Withdrawal Appeal Form; once approved, the account keeps only withdrawal and position-closing permissions. The self-service "Unable to Complete KYC - Account Closure" releases restricted funds (about 10 minutes after approval), leaves a seven-day asset handling period with withdrawals and position closing only, then permanently freezes the account. The User Agreement lets MEXC suspend, close or delete an account whose identity verification is not completed.
Checked October 23, 2026
Exchanges to compare with MEXC
Other active services in this category from our list. The shield shows each one's ID rule from its own terms.
MEXC side by side
From our privacy data, the same fields for every service| What | MEXC | Crypton Exchange | NonKYC.io | BloFin | CoinEx | Pionex |
|---|---|---|---|---|---|---|
| ID rule | ID always | No ID, by design | No ID, by design | ID above a limit | ID above a limit | ID above a limit |
| Account | Needed | Not stated | Needed | Needed | Needed | Needed |
| You hold the keys | Not stated | Not stated | No | No | Not stated | No |
| Monero | Yes | Not stated | Yes | No | Not stated | No |
| Lightning | Yes | Not stated | No | Not stated | Not stated | No |
| Open source | Not stated | Not stated | No | No | Not stated | Not stated |
Checked October 23, 2026
Short answers about MEXC
From the data on this page.
Does MEXC ask for ID?
MEXC always asks for ID, per its own pages. You need an account.
How much can you trade on MEXC without ID?
None published: MEXC states no trading or withdrawal allowance for unverified accounts; not completing KYC may restrict deposits, withdrawals and trading depending on the region (on-screen prompts in the account).
Can you buy Monero on MEXC?
Yes. MEXC lists Monero.
What does MEXC cost?
Trade fee: Spot: maker 0%, taker 0% to 0.05% depending on the pair; crypto deposits free; withdrawal fee fixed per coin and network (BTC on the Bitcoin network 0.00002, Lightning 0.000001, XMR 0.000317).
Who checked this page
Sources, how we read the terms and our process
Sources
- afm.nl/en/sector/actueel/2025/sep/mr-mexc-waarschuwing, for incidents, checked October 14, 2026
- api.mexc.com/api/v3/exchangeInfo, for status, checked October 1, 2026
- api.mexc.com/api/v3/exchangeInfo, for Zcash, checked October 22, 2026
- api.mexc.com/api/v3/exchangeInfo, for Monero, checked October 23, 2026
- bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2023/meldung_2023_10_17_mexc_en.html, for incidents, checked October 14, 2026
- decrypt.co/347043/mexc-exec-promises-changes-after-blowup-frozen-crypto-millions, for incidents, checked October 14, 2026
- fsaseychelles.sc/news/press-releases/fsa-takes-enforcement-action-against-mx-global-ltd-for-unlicensed-virtual-asset-services-operations, for incidents, checked October 14, 2026
- fsaseychelles.sc/news/press-releases/fsa-takes-enforcement-action-against-mx-global-ltd-for-unlicensed-virtual-asset-services-operations, for operator, checked October 22, 2026
- itunes.apple.com/lookup, for platforms, checked October 22, 2026
- mexc.com, for I2P address, checked October 22, 2026
- mexc.com/api/platform/asset/api/coin/fee/rate/query, for Lightning, checked October 22, 2026
- mexc.com/buy-crypto, for bitcoin, checked October 1, 2026
- mexc.com/buy-crypto, for ways to pay, checked October 15, 2026
- mexc.com/fee, for fees, checked October 22, 2026
- mexc.com/privacypolicy, for account, data collected and log retention, checked October 22, 2026
- mexc.com/proof-of-reserve/audit-report, for audits, checked October 22, 2026
- mexc.com/support/article/mexc-kyc-faq-342632287349720064, for what triggers a check and no-ID limit, checked October 22, 2026
- mexc.com/support/article/mexc-kyc-faq-342632287349720064, for what happens if a check fails, checked October 23, 2026
- mexc.com/support/article/why-is-kyc-verification-necessary-17827791519717, for ID rule, checked October 22, 2026
- mexc.com/terms, for requests from authorities, warrant canary, blocks US IPs, site blocks by region and onion address, checked October 22, 2026
- mexc.com/terms, for excluded countries and US availability, checked October 23, 2026
- osc.ca/en/investors/warnings/mexc, for incidents, checked October 14, 2026
- sfc.hk/en/alert-list/3016, for incidents, checked October 14, 2026
How we read the terms
We do not give privacy services a score. We record what each provider's own pages say: when it asks for ID, the limits, who holds your coins and what it costs. Labels come from each provider's terms, never from our guess. How we read the terms
Our process
We take fees, availability, licenses and coin counts from primary sources: MEXC's own fee schedules, terms and help pages, and the public registers kept by regulators. Every value carries the date we last checked it. The values on this page were checked between October 1, 2026 and October 23, 2026.
Not legal or tax advice. This page explains how these services work and what their own terms say. It is general information, not legal, tax or financial advice. Rules differ by country and change often. Check the rules where you live, or ask a qualified professional, before you use any service listed here.