MEXC Review 2023
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MEXC is a cryptocurrency exchange that has a wide variety of features and trading services. Its user-friendly interface balanced to allow both buying and selling cryptos, with a decent liquidity and trading volumes. It’s designed for serious traders, with its margin, futures P2P and automated trading bots and copy-trader functions. Investors may be disappointed because MEXC is not able to support the withdrawal of funds using fiat currency. In conclusion, MEXC is a satisfactory trading platform that meets the requirements of a modern cryptocurrency trader.
Let’s dive right in!
Table of Contents
MEXC Exchange Info
Mobile app: Available
Deposit Methods: Google Pay, Apple Pay, Visa/Mastercard, Bank Transfer, Cryptocurrency, Bank Cards
Trading Fees: Futures: 0.02/0.06% (Maker/Taker), Spot: 0.2%
Fiat Currencies: USD, NZD, AUD
Cryptocurrencies: Over 1,500 cryptocurrencies
- There are a variety of programs that can help you earn extra income
- Easy registration and hassle-free platform.
- Premium Help Center with Multi-Lingual help
- Variety of withdrawal and deposit methods
- There is a stake option for a variety of cryptocurrencies.
- Fast and precise charts
- Trade up to the 125x leverage
- A variety of trading markets are available
- Copy Trading to duplicate those who are the best investors
- Apps to Android, iOS and Windows users.
- Over 1,520+ cryptocurrencies available
- Selling and buying crypto quickly
Pros of MEXC
- Over 1,520+ cryptocurrencies available
- Several different trading markets
- Staking is available on a variety of cryptos.
- Leverage trading of up to 125x can be supported
- Mobile app for Android users
Cons of MEXC
- You cannot take out a withdrawal of fiat currency from MEXC
- A small number of cryptocurrency available for instant purchase
MEXC officially known as MEXC Global was established in the year 2018, and is located in Seychelles. The company has around 10 million customers in more than 170 countries. The cryptocurrency exchange continues to change its name in the evolving crypto market, eventually adopting its name MEXC exchange to make it easier for recognition of its brand.
In the year 2019, MEXC was the most popular exchange in 2019. MEXC global exchange witnessed a rapid growth. It was rated as one of the top Trading Platforms by well-known media outlets that cover blockchain. The exchange also won its Best Crypto Exchange Asia title at the Crypto Expo Dubai in 2021. The exchange claims to control five percent of digital currencies worldwide.
For traders with experience who are interested in the complexities of MEXC, the MEXC exchange The platform provides a substantial customer support. MEXC is a reputable multi-lingual customer support service that is accessible via its home page. Customers are able to contact the support team 24/7 via live agents as well as a chatbot. In addition, investors can file an issue ticket to receive a more in-depth explanation of their concerns.
Crypto Markets To Trade
One of the most significant findings while conducting research in the MEXC exchange review was the wide range of trading options that are available in the MEXC exchange platform. MEXC offers several options for trading that include spots trading, margin trading perpetual contracts, futures, automated trading or copy trading.
Particularly the margin and derivatives trading platform provides leveraged ETFs (exchange-traded funds) that focus on cryptocurrency with over 1,000 assets, MX DeFi for mining reward tokens that are retained and a staking system. It is a short summary, MEXC is among the top robust services. But, this list of services is primarily targeted towards experienced users who are knowledgeable about the crypto industry and the services it offers. For beginners the extensive list of trading options can seem overwhelming.
Supported Crypto Assets
Each time a new project is launched the market for cryptocurrency grows. To ensure that customers get access to the top and most promising cryptocurrency, MEXC Global operates a quick coin listing system. The exchange has a database of more than 2,500 crypto assets as well as more than 2,500 trading pairs as of the date of writing. Investors can trade assets such as Bitcoin, Ethereum, and Cardano through MEXC. This is great for those who want to focus on diversifying their portfolios through a number of different cryptocurrencies, which makes MEXC an excellent alternative to trading in altcoins.
Leveraged and Index ETFs
Another distinctive feature of the platform is Leveraged ETFs – an ETF-based trading option targeted at cryptocurrency. MEXC customers are able to trade more than 1,000 digital currencies and enjoy the possibility of 5x leverage. This can boost a person’s purchasing capability and also increases the potential profits if they make a good market forecast. Index ETFs enable buyers to increase their diversification by investing in various investments. It includes Grayscale Index, Major Crypto Index and DSA Index, among others.
As the top social network and copy-trader platforms that are available for cryptocurrency, MEXC has joined suit and made this feature available to its customers. Customers can locate and duplicate the most profitable trading crypto on the MEXC platform, and copy their trading strategies. The most successful traders can be identified according to their PNL and win rate and total equity or by the quantity of their followers. Although it’s not as well-known as eToro with its large amount of traders on social media, it’s still a helpful feature on MEXC for those who are new to the market. But, the performance of traders on the social platform is not as good with some data not being available for certain of the traders who are featured.
Earn Yield on Deposits
MEXC offers a profit-generating platform called Earn that allows investors to use their idle digital assets to use. Users can earn anywhere from 0.7 percent up to 7 APY using MexC’s Earning service. This can include interests accounts, mining pool and cryptocurrency staking, to mention just a few.
Locked staking offers greater yields and the highest annual percent yield (APY) limit of 18%, compared to the top stake platforms. This is an excellent option to earn passive income that requires little effort since the user only has to lock their funds for a specified time.
In addition, MEXC offers the MX-DeFi earning service that lets investors get mining rewards from their cryptocurrency. The one-day time period provides up to 12% interest in decentralized financing (DeFi) Staking. Other earning modules are available like Trading Mining and Assessment Zone Voting, which are less well-known products , but offer a lot of flexibility in earning rewards.
0% Trading Fees
Investors should consider the fees for trading that cryptocurrency exchanges charge prior to making a decision to sign up. Naturally, traders want platforms that offer top-quality services and have reasonable fees to ensure that profits are increased. Because of this, the majority of cryptocurrency exchanges have extremely cheap fees to attract investors.
MEXC stands out from its competitors by providing no-fees for trading on its spot market. This promotion is applicable to all spot trading pairs that trade on MEXC. For instance, one can make an order to purchase Bitcoin without paying fees.Its Futures derivative trading is available at a minimum transaction fee of 0.02 percent and 0.06 percent for producers and takers respectively , which is great value in terms of money. To find a list of crypto exchanges that don’t charge fees, please read the article.
MEXC recently introduced an online testnet for users to try out trading crypto and try out the platform prior to opening an account with real money. The test account can be filled with up to $50,000 USDT of virtual funds. The user interface is modeled after the live platform and has live prices for crypto and the capability to place orders and complete positions just like normal. Demo mode is able to be switched on within the same platform, in contrast to other testnets for crypto that require an additional login. To determine what the MEXC demo account comparesto other demo accounts, check out this article about the top free crypto demo accounts you can make use of.
MEXC is a non-profit organization that charges 0% for makers and 0.2 percent for taker orders for the purchase and sale of cryptocurrency on the spot market. Taker orders are decreased by discounted rate of 20% for those who hold an MX token. Customers who allow the settlement of their trading charges using MX tokens will be able to cut their fee for trading in the spot market to 0.16 percent. The transaction fees are competitive and are comparable to those offered by Binance which is among the most cost-effective exchanges.
In the case of futures trading, MEXC charges 0.02% (maker) and 0.06 percent (taker). This is very economical and is similar to the well-known margin-based platform FTX. Much like the spot market the MX token payment method provides a discount of 10% for leverage. Furthermore, the costs can be reduced further based on the trade volume for the investor up to 0.014%/0.042 percent for investors with 500 million and more.
Volume and Liquidity
MEXC Global ranks top among the most popular exchanges due to the volume of trades it handles daily. Based on Coinmarketcap (CMC), MEXC has processed more than $2 billion worth of transactions over the past 24 hours and is the 13th largest exchange after Huobi Global and CoinCheck. The Bitcoin/USDT exchange accounts for approximately 50% of the liquidity. This is what makes MEXC exchange the best option for people wanting to trade Bitcoin and other altcoins without worrying about slippage.
MEXC crypto exchange claims to be licensed in the countries it operates by its affiliates. We were unable to verify this independently, we did review. The platform does, however, adhere to the international laws on AML (anti-money laundering) (AML) and financing terrorism and requires that new customers undergo a mandatory Know-Your-Customer (KYC) verification procedure.
Funding & Limits
MEXC allows users to deposit funds into their accounts using more than 20 different fiat currencies that include USD, EUR, GBP TRY, and many more. The deposit can also be made via credit/debit cards, wire transfers using SWIFT and automated clearing houses (ACH) and peer-to-peer (P2P) and even third-party payment services like MoonPay, Simplex, and Banxa. This allows investors a lot of flexibility to deposit and withdraw their funds.
There is no limit to cryptocurrency deposits, however deposits made with fiat are capped at 100,000 USDT. The withdrawal limit is 200 BTC per day. Deposits are no cost, but withdrawal fees are based on the assets.
Similar to other cryptocurrency exchanges MEXC exchange requires that all users complete an ordinary KYC verification procedure. In the beginning, this procedure is divided into two parts: Primary and Advanced Verification. The MEXC platform requires the users to provide a picture of their passport, driver’s license, or government-issued ID card to be used for Primary Verification. This automatically increases the limit of withdrawals for a user to 80 BTC per day.
Advanced Verification Advanced Verification requires users to complete their personal details and then complete the facial recognition exercise. The withdrawal limit is increased up to 200 BTC per day. These actions can be completed with the MEXC app for Android as well as iOS devices. MEXC’s compliance with KYC best practices is a sign of the company’s determination to combat any financial crime.
MEXC Trading & Ease of Use
The MEXC platform offers a basic appearance for investors who are not accustomed to it as well as a more sophisticated trading interface for more sophisticated investors. Below, we look at the experience of charting and placing trades.
To place an order using MEXC users must input the ticker symbol for the asset in the search bar, and then select the preferred trading pair from the spot market. In the next step, type in how much of the asset to buy and select between Limit or Market’ orders. Limit allows the user to alter their entry price in order to buy the asset. After this is done the exchange will save the purchase and will execute it once the price specified is reached.
In contrast market orders are executed as soon as the investor buys the asset at its current price. MEXC lets users create SL and TP options and after that, click either “Buy” or “Sell” buttons to close the transaction. All in all, it is possible for anybody with basic computing knowledge within a 10-minute time frame.
The default trading interface for the MEXC exchange has the ‘Buy’ and Sell’ icons on right below the asset. A ‘K-Line’ as well as a “Token Info” icon is overlayed by a continually changing market order book that is to the left. The users also have access to an online trading chart that shows the entire trading timeframe of 1 minute all the way to one month.
Although this is the primary trading interface, traders who are proficient about indicators can access Moving averages (MA) and move average exponential (EMA), Bollinger band strategy (BOLL) and BOLL, and the Parabolic SAR (SAR) among the primary indicators. Other sub-indicators such as Moving average convergence and Divergence (MACD) as well as the absolute strength (RSI), (RSI) as well as real-time volumes (VOL) are as well available for use.
MEXC can also allow users to alter the indicators they support through changing the colors or time lap. The interface is available for all coins supported on the platform. Users are able to complete their orders in a matter of seconds after placing the order. MEXC offers advanced features that are geared towards investors with more experience because it is directly connected to the TradingView API. (API).
Since this is more advanced The trading interface is equipped with more comprehensive and efficient charts that show the amount of the actual asset traded as well as the short and long buttons, and many more indicators. Investors can also choose of trading at the current or current reasonable prices instead of market price.
Furthermore, professionals can make use of leverage to boost the potential return and also establish the trigger limit (TLs) to their trading. Additionally, MEXC has cross and isolated futures trading, which gives traders more options for liquidity in specific scenarios.In short MEXC’s user interface is in line with many other platforms for crypto that are in the business.
Similar to many of the top trading apps for cryptocurrency, MEXC has a standalone mobile application. This is a great option for investors who are constantly in motion and would rather trade on your mobile device on continuous basis. MEXC is available for installation for Android as well as iOS devices. The app provides the identical trading experience of the web-based platform that lets you purchase and sell crypto assets , and manage a portfolio with little effort. Mobile users can also utilize the in-app support feature to talk to customer service to get assistance that is a valuable feature.
MEXC is committed to the safety of the funds of its customers serious. New accounts must complete KYC and then enable 2FA through an authenticator from the Google App authenticator. After this then an anti-phishing security code is created along with an whitelist of withdrawals. The withdrawal process is only allowed once you have met the 2FA requirements are fulfilled.
Email verification and mobilenumbers can also be set up to improve the security of the platform. Additionally the platform keeps most of the cryptocurrency assets in an encrypted cold storage wallet which is the current safest way to protect cryptocurrency assets from cyber-attacks.
MEXC is one of the most well-known cryptocurrency platforms and is a top choice among investors. The digital asset exchange has zero charges for trading you use a limit order. It is user-friendly and has a high level of liquidity and volumes throughout its marketplaces. It’s also feature-packed and user-friendly.
However the MEXC exchange doesn’t allow withdrawals using fiat currency which can be a significant issue for those who aren’t used to cryptocurrency withdrawals. We are also unable to confirm whether any international financial institution regulates the MEXC platform. The exchange is sure to be able to meet the requirements of the majority of cryptocurrency traders.
frequently asked questions
Every new user must submit a copy of their driver’s licence, official passport or ID issued by the government and undergo an exercise to verify their face. Financial regulations require that cryptocurrency exchange users must confirm their identity in accordance with anti-money laundering laws.
MEXC protects customer funds and personal data through the two-factor security (2FA) whitelisting addresses security, anti-phishing, as well as password security. These security features are standard measures to protect a crypto exchange. Furthermore, MEXC does not appear to have been compromised since its inception.
MEXC declares to be a legal operating cryptocurrency exchange. MEXC claims that the Bitcoin trading platform supervises it in its own way and through affiliated companies in its operational regions. But, it’s difficult to prove this claim.
|Exchange||Deposit Methods||Fiat Currencies||Cryptocurrencies||Trading Fees||Sign Up|
|PayID, Osko, Debit Card, Credit Card, Cryptocurrency, Bank Transfer||AUD / NZD||320 +||0.6%||Visit|
|PayID, POLi, Cryptocurrency, Cash, BPAY, Bank Transfer||AUD||370+||OTC: 0.1% Instant buy/sell: 1%||Visit|
|PayID, Osko, Debit Card, Credit Card, Cryptocurrency||USD, AUD, CNY, EUR, CAD, GBP, UAH, NGN, TRY, RUB||600+||0% – 0.1%||Visit|
|Crypto, electronic funds transfer (EFT), wire transfer, bank transfer, debit card/credit card||50+||160+||0.1% to 0.6%||Visit|
|Google Pay, Apple Pay, Debit Card, Credit Card, Cryptocurrency, Bank Transfer, Cash||AUD, GBP||50+||Taker: 0.04-0.1% Maker: 0.04-0.1%||Visit|
|PayID, Osko, POLi, Cryptocurrency, Bank Transfer||AUD||300+||0.1% – 0.5%||Visit|
|SWIFT, EFT, PayID, Osko, Cryptocurrency||USD, AUD, NZD||27||0.05% – 0.5%||Visit|
|Skrill, Online Banking, PayPal, Neteller, Debit Card, Bank Transfer||USD, AUD, EUR, NZD, GBP, HKD, CAD, CHF, NOK, SGD, and 5+ more||70+||Vary (overnight and weekend fees apply)||Visit|
|SWIFT, Google Pay, Apple Pay, SEPA, Osko, Wire Transfer, Cryptocurrency, Bank Transfer||AUD, USD, GBP, EUR, CAD, JPY, CHF||140+||Taker: 0.10% – 0.26% Maker: 0.00% – 0.16%||Visit|
|SEPA, Debit Card, Credit Card, Wire Transfer, PayPal, Cryptocurrency||AUD, EUR, USD, RUB, GBP, KRW, CNY, VND, TRY||645+||0.1%||Visit|
|Bank transfer, POLi, OSKO, P2P||AUD||100+||Taker fees: 0.5% – 1.6% Maker fees: 0.5% – 1.6%||Visit|
|Crypto, Bank Transfer, PayID||AUD||410+||Taker fees: 0.85% Maker fees: 0.85%||Visit|