What is MEXC?
MEXC is available in almost every country, including strict jurisdictions such as the US, Australia, and Canada. The exchange has a variety of markets and tools so that customers can trade cryptocurrencies how they like straight away. With a great customer support team, and no identity verification required, it is easy to see that MEXC prioritizes customer satisfaction, privacy, and anonymity.
My Overall Thoughts on MEXC
MEXC stands out as a versatile platform, catering to the diverse needs of crypto traders and investors, regardless of their experience level. From beginners to seasoned traders, MEXC offers an array of features and options that make it an attractive choice. Here are the top three aspects that I find particularly commendable about MEXC:
1) ZERO FEE trading: MEXC is the first crypto exchange I have reviewed, that has 0% fees for trading! If you are spot trading, it is completely free for both makers and takers. For futures traders, it is 0% for makers, and there is a small 0.02% fee for takers. However, if you sign up with this link, you receive a 10% discount on all trading fees, as well as $30 USDT free!
2) Wide variety of over 1,520+ cryptocurrencies: MEXC excels in providing a vast array of crypto assets, which is a crucial factor for a good cryptocurrency trading platform. The extensive support for over 1,520 different crypto assets, combined with more than 2,110 trading pairs, ensures that traders on MEXC have a broad spectrum of trading options. This variety allows users to diversify their portfolio, experiment with different assets, and take advantage of market opportunities across a wide range of cryptocurrencies. The depth and breadth of available assets make MEXC an attractive platform for both novice and experienced traders who are looking for extensive market access.
3) Various trading markets: MEXC stands out for its comprehensive range of trading options, going beyond just spot trading. The platform caters to a variety of trading preferences and strategies by also supporting margin trading, a futures market, and even Exchange-Traded Funds (ETFs) indices. This diversity in trading options provides traders with the flexibility to engage in different types of market activities, all within a single platform. A particularly notable feature of MEXC is its leverage trading capability. Offering up to 200x leverage, MEXC significantly surpasses many other platforms typically capped at 100x leverage. This high level of leverage allows traders to amplify their trading positions, potentially leading to greater profits.
One minor criticism of MEXC is that it does not allow withdrawal of fiat currency. This is quite common among dedicated trading platforms, but there is an easy way around this. Simply withdraw your crypto to another exchange that allows fiat withdrawals. See my step-by-step guide here for more information.
$30 FREE USDT
10% Discount - Trading Fees
Key Features & Advantages of MEXC
MEXC indeed offers a wealth of features and trading options, catering to a wide array of crypto traders' and investors' needs. Here's a rundown of the key benefits that make MEXC a compelling platform for trading and earning cryptocurrency:
Negatives & Disadvantages of MEXC
While MEXC presents a range of excellent options for its users, there are certain aspects that could benefit from enhancement. Here are some key considerations to keep in mind before registering with MEXC.
What Services Does MEXC Offer?
Let's take a look in detail at what services MEXC offers to their users. This can help you decide if the exchange is suitable for your needs, or whether you need something different.
Quick crypto purchases: If you're new to the world of cryptocurrency, MEXC offers an accessible starting point. Here, you can purchase cryptocurrencies swiftly using various payment options. Simply navigate to the 'Buy Crypto' section in the top menu, choose your preferred fiat currency for payment, and select the cryptocurrency you wish to buy.
Over 1,520+ cryptocurrencies available: When evaluating a crypto exchange, the variety of available assets is crucial for investors and traders. MEXC stands out in this regard, boasting an extensive array of cryptocurrencies and trading pairs. Specifically, it offers more than 1,520 different cryptocurrencies and over 2,110 trading pairs, a range unmatched by other exchanges I've reviewed.
Exploring MEXC's cryptocurrency selection, I was overwhelmed by the choices, including many I was unfamiliar with. This prompted hours of research into these new options, uncovering several with promising potential. Furthermore, I tested MEXC's search feature for specific cryptocurrencies and found that every coin I searched for was listed on their platform.
Apps available for Android, iOS, and Windows users: The availability of a mobile app for a crypto exchange adds immense convenience, allowing you to manage your portfolio and trade anytime, anywhere. MEXC meets this need by offering apps compatible with Android, iOS, and Windows devices. These apps mirror the features available on the desktop site, ensuring a seamless experience.
I personally tested the MEXC app on both an iPhone and a Samsung Galaxy, and it operated flawlessly on both devices. The app's design is user-friendly, making navigation straightforward, and the interface is well-optimized for trading, enhancing the overall user experience.
Copy Trading so you can copy the most successful investors: MEXC offers a noteworthy feature known as Copy Trading, which enables users to automatically replicate the trades of their chosen experts. This functionality is particularly beneficial for beginners seeking guidance and for experienced traders who lack the time for market analysis and technical studies. As illustrated in the screenshot, users can explore top investors based on various criteria such as Return on Investment (ROI), Total Profit and Loss, Win Rate, Total Equity, or Number of Followers.
I personally found the process of browsing through successful traders on MEXC to be straightforward. Additionally, I was able to quickly locate a well-regarded trader (a colleague's recommendation) using the platform's search feature.
Several trading markets available: MEXC distinguishes itself not only by its extensive cryptocurrency offerings but also by providing a diverse range of markets that appeal to experienced traders. The platform supports various trading formats, including spot trading, margin trading, and derivatives trading. This latter category encompasses ETF indices, ETF margin trading, and futures trading.
All these markets are conveniently accessible in one location on MEXC, making it easy to switch between different trading types. The abundance of trading pairs available ensures that traders are likely to find numerous attractive trading opportunities.
Trade with up to 200x leverage: Leverage trading, a feature especially appealing to seasoned traders aiming to amplify their profits, involves borrowing funds from the platform to open a position. Successful trades in this mode can significantly multiply profits. However, it's important to be cautious, as even minor market shifts in the opposite direction can rapidly deplete your investment. I advise that only very experienced traders engage in leverage trading due to its high risk.
Many crypto trading platforms offer leverage trading, but MEXC stands out by providing leverage limits of up to 200x on certain cryptocurrencies. This level of leverage is notably higher than what's typically available on other exchanges, making it an especially compelling aspect of MEXC for those equipped to handle such high-risk trading strategies.
Super-fast and accurate charts: Slow chart performance in trading can be particularly damaging, as even minor inaccuracies can lead to significant financial losses in the volatile crypto market. MEXC addresses this concern effectively, offering some of the fastest and most accurate charts available, ensuring precise tracking of market movements.
During my evaluation of MEXC, I observed that the charts loaded almost instantaneously, regardless of the trading pair selected. This quick response time is crucial for timely decision-making in trading. Additionally, MEXC charts are highly customizable, allowing users to select from a variety of indices, sub-indices, technical analysis tools, candlestick patterns, and time frames, thereby enhancing the overall trading experience with tailored analytical capabilities.
Staking available for several cryptocurrencies: Everyone loves the idea of passive income, and with MEXC, you can earn interest on your crypto by staking. I visited the staking section of the website to see what coins were available. There are many popular cryptocurrencies, including BTC, ETH, and DOT, and you can choose whether to lock your crypto for a set term, or keep it flexible. When I compared the rewards with the rates from other crypto interest accounts, I found them quite competitive, and I use MEXC to stake a lot of my own crypto.
Range of deposit methods: MEXC works with various third-party merchants to offer a range of fiat deposit methods to their users. You can use popular payment methods such as Visa, Mastercard, and Bank Transfer, as well as Apple Pay and Google Pay. I found it extremely convenient using Apple Pay to buy USDT, it is quick and straightforward. There is no need to type in credit card numbers, and expiry dates.
For those who prefer peer-to-peer (P2P) trading, MEXC provides a platform where you can buy and sell cryptocurrency for fiat currency directly with other users. This mode of trading offers a wide range of payment options, depending on the mutual agreement between you and the other party.
Based on my experience, engaging in P2P trades on MEXC is straightforward and user-friendly. You have the option to either fulfill an existing order or create your own advertisement, waiting for someone to accept your offer. This flexibility and ease of use make the P2P trading feature on MEXC a valuable tool for those looking to trade directly with other individuals.
Premium help center with multilingual support: Dealing with technical issues on a website can be incredibly frustrating, especially in the absence of effective customer support. MEXC recognizes this challenge and addresses it by providing top-tier customer service to ensure a smooth experience for its users.
MEXC features a Help Center where users can find answers to frequently asked questions. If the solution to a problem isn't found there, users have the option to reach out to MEXC's support team through live chat or by opening a support ticket for email responses. Additionally, MEXC offers multilingual support, catering to a global user base and allowing for communication in various languages. This comprehensive approach to customer service is designed to ensure that users receive the help they need promptly and in a language they are comfortable with.
Easy-to-use platform with hassle-free registration: The overall interface of MEXC is quite straightforward and easy to use. I didn't experience any complications when accessing my account, depositing funds, trading, or staking. The menu at the top of the site has access to all the options on the platform, so you can quickly navigate to the page you want.
Signing up to MEXC is also extremely simple, as you do NOT need to submit any KYC documents. Simply sign up and verify your email address and you can start buying and trading crypto. This is perfect for those who wish to stay anonymous and maintain their privacy when trading crypto.
Extra earnings and prizes: I mentioned staking above as a way to earn crypto, but besides this, there are other avenues to earn crypto on MEXC. For example, there is a MX-DeFi hub where you can connect to liquidity pools to earn rewards, and free airdrops to be won through M-Day on MEXC.
MEXC also has frequent prizes and trading competitions. Visit MEXC to see what current promotions are available.
What I Don't Like About MEXC
MEXC is a great crypto exchange but there are a few points that might not suit some users. Here are a couple of downsides that you should keep in mind before proceeding.
Very limited cryptocurrencies available for quick buy: If you are in a rush and don't have time to place an order on the markets, the quick buy option is a blessing. However, on MEXC, there is a limited range of coins that you can purchase directly depending on your geographical region.
If you want to buy a coin that is not available on quick buy, you have to first buy an available cryptocurrency (such as USDT), then trade it for the coin you want.
No fiat withdrawals available: As MEXC is a dedicated crypto trading platform, users are not able to withdraw fiat currencies from the exchange. If you wish to do so, you will have to transfer your crypto to another exchange that accepts fiat withdrawals. You can see my simple guide here.
MEXC Deposit Fees
Depositing cryptocurrency into an MEXC account is a fee-free process, which is a significant advantage for users looking to transfer their digital assets to the platform.
While direct fiat deposits are not supported on MEXC, users have the option to use fiat currency to directly purchase cryptocurrencies. This transaction involves a fee, which is determined by third-party merchants and typically ranges between 3-5%. To understand the exact fee applicable to a specific transaction, users can select their preferred fiat payment method on MEXC. The platform will then display the associated fee, allowing users to make informed decisions before completing their crypto purchase. This transparency in fee structure is a helpful feature for users navigating the costs of crypto transactions.
MEXC Trading Fee
MEXC has zero spot trading fees, which means you can trade for FREE!
MEXC Fiat Withdrawal Fees
Fiat withdrawals are not supported on MEXC, but you can get your money out by following the steps in this article.
If you want to sell crypto directly for fiat currency, you can do so on the P2P (peer-to-peer) market. There is no fee for trading on there, and the price you receive for your cryptocurrency is up to you. You can list the price you want, and wait for a willing buyer.
MEXC Crypto Withdrawal Fees
MEXC charges a different fee for each cryptocurrency. Some coins are free to withdraw, while others will cost you a specified amount. On the MEXC fee page, you can find the withdrawal fees for each coin.
Pros and Cons of MEXC
- Over 1,520+ cryptocurrencies available
- Lowest trading fees, with ZERO fee spot trading
- Staking available on several cryptocurrencies
- Leverage trading up to 200x
- No KYC required so you can register quickly and anonymously
- Cannot withdraw fiat currency from MEXC
- Limited number of cryptocurrencies available for quick buy
MEXC is a global crypto exchange offering its services to almost all major countries, including the USA. Due to the availability of over 1,520+ cryptocurrencies, and the lowest fees, MEXC attracts many traders and investors. With the user-friendly interface, and demo trading mode, MEXC offers amateurs a great place to begin crypto trading. If you want to learn how to trade crypto, see my FREE trading course for beginners and learn all the basics.
If you sign up to MEXC with this link here, you can also receive an exclusive limited offer: FREE $30 USDT, and 10% discount on all your trading fees! Take advantage of this opportunity before it ends.
In summary, MEXC stands out as an excellent option for traders of all levels, characterized by its low fee structure, expansive selection of cryptocurrencies, and diverse range of markets. For those still in the process of choosing a cryptocurrency trading platform, it may be beneficial to explore a comparison of the best crypto exchanges available. This approach is further aided by comparison tables, like the one included below, which provide a clear, side-by-side evaluation of different platforms, helping you make an informed decision based on factors like fees, available coins, and trading options. Such resources are invaluable for navigating the varied landscape of cryptocurrency trading platforms.
Comparison Table of the Best Crypto Exchanges in the USA
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.
Frequently Asked Questions
Yes, MEXC is a safe and legit crypto exchange, used by millions of users worldwide. There have been no reported breaches or security concerns since their establishment.
Yes, MEXC is available for US residents to use. You can easily create an account and start trading or investing without any restrictions.
MEXC is a safe and secure crypto exchange due to their multi-layered security measures. There have been no reported breaches or hacks since their establishment. MEXC also urges their users to activate 2-factor authorization, anti-phishing codes, and phone numbers to protect their accounts further.
Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us.