MEXC Review

The crypto industry offers a wide variety of exchanges, all with slightly different benefits and drawbacks. Many people, however, prefer top-rated platforms like Binance and Bybit, but MEXC is another name that frequently appears on such lists with its extensive features. So, in this MEXC review, we’ll explore its interconnected trading ecosystem full of various features and tools.

The exchange is well-regarded, with many fans and a growing user base. It serves a lot of different purposes and needs, making it desirable for people who like to try out a range of trading methods and styles. But how well-suited is it to these different areas, and does it deserve the reputation it has? Not only this, but people often wonder is MEXC available in the US (hint - it's not).

I’ll examine the key aspects of the platform, including MEXC fees, application, and trading dashboards. By the end, you'll know what makes MEXC stand out, along with its shortcomings and their impact on users.

What is MEXC?

Founded in 2018 by blockchain industry veterans, MEXC has quickly evolved from a startup to a major player in the global crypto exchange world. Registered in Seychelles and operating in a decentralized manner, the platform serves over 40 million users across 170+ countries.

The platform's core proposition of being "Your Easiest Way to Crypto" might undersell its complexity, as MEXC offers sophisticated tools that cater to both newcomers and professional traders navigating fast-moving or underrepresented markets. The platform prioritizes function over design, and has quietly grown a loyal base of active users.

MEXC positions itself around what it calls the "MEXC" approach:

Most trending tokens, Everyday airdrops, Xtremely low fees, and Comprehensive liquidity.

That's why it ranks in the top 10 exchanges by trading volume, with particular strength in emerging altcoins that often appear on MEXC before hitting other mainstream exchanges.

MEXC supports a huge variety of cryptocurrencies – more than 4,200! This extensive list also includes meme coins, known for their community-driven nature and viral appeal. This has made the exchange popular among traders looking for early investment opportunities.

Speaking of which, it even has a separate Memecoin Zone, catering to the hype-driven world of internet culture. Memecoins are community-powered tokens that thrive on social media buzz and viral trends, making them both unpredictable and fun! With this dedicated zone, you can easily access the latest and most popular memecoins.

📚 Read More: How to Buy Meme Coins

The company also distinguishes itself through a commitment to security and user experience via its advanced security protocols to safeguard user funds and personal information. Nevertheless, to be able to trade, you are not required to complete the MEXC KYC process. So, in this sense, it also amplifies the decentralized nature of crypto on the platform.

To cater to diverse audiences, the MEXC exchange offers multilingual support and has a broad geographical reach. This international focus is reflected in their variety of supported cryptocurrencies, which often include regional and country-specific tokens. It is also echoed through its desire to form relationships with professional institutions, as well as serve retail investors from multiple regions.

It would be fair to say that the MEXC exchange has a keen eye for attracting a plethora of customers, covering many bases in this ever-changing and evolving industry. However, whether it serves these bases well is of particular importance to my MEXC review, with an enhanced focus on the average trader.

MEXC Review: PROS

Let's delve deep into this MEXC review by highlighting its strong points. Starting here is beneficial as it sheds light on the characteristics and functionalities that captivate its users and helps to elucidate why someone would opt for the MEXC exchange for their trading requirements rather than other well-established options like Bybit or Binance, for example.

Spot and Futures Trading

The MEXC exchange supports both futures and spot trading. Spot trading is where somebody purchases a cryptocurrency for immediate delivery and settlement, where the transaction is handled instantaneously or "on the spot”. It is the most common form of trading and is usually what most newcomers and beginners think of when they consider this industry.

MEXC's spot trading platform offers over 3,000 trading pairs. Zero maker fees are consistently applied across popular trading pairs, creating real cost advantages for high-frequency traders, while the 0.05% taker fee undercuts most major competitors.

Order execution on MEXC's spot market is fast and reliable. Market, limit, and trigger orders all function as expected, with real-time data that is accurate and responsive. Major trading pairs swim in liquidity, while low-cap tokens may see slower fills.

Futures trading, on the other hand, is a little different. This involves buying and selling futures contracts, which are agreements to buy or sell a specific quantity of a particular asset at a certain price and date in the future.

Unlike with spot trading, the buyer does not own the asset in question after the transaction. Instead, they own a contract that gives them the right to buy or sell the asset at a specific price on a specific future date.

The futures side of MEXC supports leverage up to 500x, a level that significantly exceeds most competitors and is likely to appeal to high-risk traders. It offers over 1,200 pairs and often has around $29 billion in 24-hour volume.

The 0.02% taker fees (regional fee variations may apply) for futures represent great value, while perpetual contracts offer the flexibility that active traders crave. Funding rates generally align with industry standards. Besides, risk management tools are available on MEXC, and traders will appreciate the flexibility, execution speed, and breadth of assets offered.

It is good to see that both futures and spot trading are offered by MEXC, as it shows that it is interested in this type of clientele just as much as less advanced investors.

As noted in several user MEXC reviews, both the exchange's futures and spot trading dashboards are fully-fledged and feature-rich, offering a range of financial tools and data types that any trader would expect to make informed decisions.

Not only this, but both dashboards have integration with TradingView, one of the leading trading metrics companies on the market, offering precise technical analysis tools. While complete beginners might not appreciate this type of integration, advanced users will be very happy to know that they have access to such information right inside the console rather than having to switch tabs.

In addition, the MEXC exchange provides users with a live, regularly updated market depth view. This is a snapshot of the demand for a particular cryptocurrency. It is often presented as a chart that visually shows the levels of supply (sell orders) and demand (buy orders) at different price points.

Depth views contain two sides. They have "bids," or buy orders, to purchase the cryptocurrency at a specific price. The bids are shown on the left side of the chart in green. And they have "asks," or sell orders, that specify a price at which to sell the cryptocurrency. The asks are shown on the right side of the chart in red.

These are great because they show traders what type of liquidity is on the exchange, whilst also giving a visual representation of the supply and demand available. In other words, they are a way of ensuring that traders can make fact-based decisions and keep up to date with the trading landscape on a second-by-second basis.

Beyond core functionality, the platform includes a growing suite of other trading tools. Grid bots, for example, are fully integrated and especially effective when paired with zero maker fees. This combination allows for automated, high-frequency strategies without the usual cost drag.

Futures Demo Trading

Not only does MEXC offer futures trading, but it even features a demo trading tool. This is essentially a type of sandbox or playground that allows traders to learn in a risk-free way how to trade cryptocurrencies via futures contracts.

With this tool, you can practice trading with demo coins without putting up any of your own money. This is a great way to learn the different markets, how to use the MEXC platform, and develop your trading strategies.

It's a nice tool for people who want to get involved with crypto but are nervous about making mistakes. In this sense, the MEXC futures demo trading tool works as a way of dipping your toes into the trading waters without incurring any dangers.

It is also a good tool for anyone who wants to get acquainted with crypto in a safe environment. They could use MEXC’s demo trading interface to get the hang of the crypto trading industry.

This is arguably one of the most beginner-friendly tools an exchange can offer, as it eases them into the nature of trading in an environment where experimentation and making mistakes are encouraged.

Copy Trading Feature - Supported!

Yet another great beginner’s tool is MEXC’s copy trading interface, which is available after you complete the MEXC KYC process. Copy trading is a form of social trading where investors copy the trades of other, more experienced individuals or where they copy the actions of their peers. It can be a great way for newcomers to learn the ropes by focusing on the behavior of another, although, unlike with demo trading, it is not without risk.^[1]

The worst way to think about it is to see it as absolving yourself of the actions and outcomes that affect your money. Copy trading is passive in the sense that you are not making every decision, but active in the sense that you still choose who to sync yourself with.

In the world of crypto, copy trading has become increasingly popular, as this industry has always had a strong social media streak running through it due to being a digital-native asset class. This is why it is so important to highlight it in this MEXC review. This particular brand of copy trading has some great features for people to keep in mind.

For starters, the stats of every trader you can copy from are displayed and updated momentarily, with top performers shown within a leaderboard. Users’ ROI, PNL, and win rate are displayed for both their last seven days and their overall timespan as a copy trader. Not only this, but you can also see what their trading style is like with the badges that get pinned to each user.

For instance, traders can be marked as being stable, long-term, short-term, aggressive, high-frequency, and low-frequency. However, this is not an exhaustive list. Having this type of information at hand is extremely useful as it gives you an indication of how these traders will react to certain actions and behaviors exhibited by the markets.

When it comes to choosing a trader to copy from, it cannot be understated just how necessary it is to know this, as the way a trader acts is just as important as how successful a trader is overall.

This is because, if you choose to pair with them, you are going to be matching their actions and moving in tandem, and so you need to be comfortable with how they conduct their business. It takes a certain type of person to be able to stomach some trading actions if they do not agree with them, even if they are typically successful.

Copy trading offers a symbiotic relationship for both parties. While those who copy others get the benefit of following the actions of esteemed individuals, those who offer to get copied receive profit shares. It is essentially a way of rewarding talented traders by giving them additional revenue for their apt and savvy actions.

Considering how, on MEXC, you can have up to 1,000 followers, this profit sharing can amount to a huge sum of money. In this sense, it may even be hard to conceptualize just how profitable such activity can be. But of course, it is dependent on being successful on the trading floor.

📚 Read More: MEXC Copy Trading Explained

Innovative On-Chain Solutions

While many exchanges have tacked on DeFi features, MEXC takes a more integrated approach, developing CEX-DEX hybrid tools that prioritize usability over complexity. The main feature in this field is DEX+.

DEX+ offers access to decentralized token markets through a centralized exchange-style interface. Users can trade over 10,000 on-chain pairs using familiar tools such as order books and charting.

That said, they don't need to use external wallets, cover gas fees, or use cross-chain bridges. This makes on-chain assets more accessible to everyday users by removing many of the typical barriers to DeFi trading.

It's also worth mentioning MEXC Alpha, a part of DEX+, which lets users trade newly launched on-chain tokens directly from their MEXC spot accounts. Again, it eliminates the need for bridges, swaps, and waiting for listings.

In other words, MEXC Alpha shortens DEX discovery to a few taps. So, it's a great tool for users who want early access without the on-chain friction. Execution is reasonably fast considering its decentralized nature, and the process is noticeably smoother compared to what standard DEXs offer.

Earning Features

Trading features aside, MEXC offers plenty of ways to earn, including:

• MEXC Earn
• MEXC SOL Staking
• Referral & affiliate programs

MEXC Earn offers a simple way to earn from popular assets through Flexible Savings, Fixed Savings, and On-Chain Earn products with competitive APRs. There's no need for external wallets or for interacting with smart contracts.

Both fixed and flexible options are available, payout schedules are transparent, and the interface is clean and jargon-free. While the product suite may feel limited for advanced DeFi users, it effectively serves those looking for a simplified yield option.

Then there's also SOL staking via MXSOL. It removes the wallet setup and validator delegation that typically make Solana staking intimidating. Users get a liquid staking token, MXSOL, which they can freely trade on MEXC's spot market, providing both yield and flexibility.

While it doesn't fully replicate the benefits of native staking, it provides a practical alternative for mainstream users.

📚 Read More: How MEXC Staking Works

Another way to earn on MEXC is by inviting other users to the platform. The exchange offers a competitive affiliate program with high commission rates and broad coverage.

Table: MEXC's affiliate program

By the way, new users can earn up to 10,000 USDT in welcome bonuses by completing tasks in the Rewards Hub. On top of that, MEXC often runs various limited-time reward programs. You can find those on Kickstarter, where users holding MX tokens can receive token airdrops. Also, there's Airdrop+, which rewards users for depositing and trading newly listed tokens.

Global Availability

Some people wonder, "Is MEXC available in the US"? While MEXC lives up to its name by having worldwide availability, it is not available in the US, Canada, Singapore, Mainland China and some other jurisdictions due to regulatory restrictions.

Yet, it is available in 170+ other countries, which makes the MEXC exchange a highly international one. It also means that there is a lot of access to liquidity on a global scale.^[2]

One of the perks of using an international exchange like MEXC is that you can be sure that it follows the regulatory rules of many different jurisdictions. What makes this positive is that it means it must be very careful with how it operates, ensuring that everything is by the books, as it has many rules to follow from many different nations and locations.

It is, however, also worth noting that global exchanges are not exactly a rarity. Top-performing platforms like Binance and Bybit have an international presence (much like MEXC).

📚 Further Reading: Best US Crypto Exchange

High Security

MEXC is a security-first platform and has not experienced any major incidents to date. Due to AML policies, it implements KYC verification processes, which makes identity verification mandatory for trading.

The exchange stores assets in both hot and cold wallets and partners with Hacken for third-party security audits and real-time monitoring. This greatly reduces the possibility of your assets being stolen.

Additionally, it publishes bi-monthly Proof of Reserves reports, showing reserve rates consistently above 100% and it has two emergency funds to enhance user protection:

• $557M Insurance Fund for platform-level bankruptcy protection
• $100M Guardian Fund for user-facing security incidents

This means that even if your assets are stolen in the event of a security breach, it ensures that you don't suffer any losses.

For user security, it offers additional protection methods such as two-factor authentication (2FA) and anti-phishing code. While 2FA is mandatory, setting an anti-phishing code is optional.

📚 Read Further: Is MEXC Safe?

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MEXC Review: CONS

This MEXC exchange review would not be comprehensive without a detailed look into its potential shortcomings and drawbacks. Let's delve into the disadvantages I've encountered on this platform.

Limited Fiat Deposits & Withdrawals

Perhaps the main con I want to mention in this MEXC review is that the exchange does have some limitations when it comes to fiat currencies. While it is possible to buy crypto with fiat bank transfers and credit cards (50 different fiat currencies, including USD), deposits and withdrawals are way more limited than that, depending on your country of residence.

It means that, if you want to take your money out of crypto, then you might need to transfer it to another exchange that can do this for you, such as Binance or Coinbase. Theoretically, MEXC does have the capability to do this via its P2P portal, but its availability is rather low.

When I checked this, I found that there are a few different fiat currencies supported, including EUR, VND, RUB, and KRW. The currencies depend on which parties are actually using the P2P portal and which ones are open to facilitating such trades.

Besides that, you can also make a fiat withdrawal via bank transfers (SEPA). However, this option is also rather limited, as only EUR is supported. 

This aspect is mentioned in several user MEXC reviews. After all, the act of moving funds from one wallet to another can be costly, depending on the cryptocurrency, and so this can eat away at profits. On the other hand, MEXC fees are really low, so it does make up for that in a way.

But it still is a fundamental part of centralized exchanges, so no matter what MEXC’s crypto options are, they might be overshadowed by the platform’s lack of utility when exiting the market for some. So, hopefully, fiat off-ramping will be expanded on MEXC at some point in the future.

No NFT Support

The crypto industry is not like it used to be, and even centralized exchanges have had to get with the times and keep themselves updated and fresh. One of the biggest alterations that CEXs have faced is that some of them now support NFT trading. Binance is definitely a leader when it comes to this, although there are others as well, such as Bybit.

However, MEXC does not have any support of this nature. Despite the changing and evolving of this space, MEXC is crypto, but not NFT, inclusive. There is no NFT marketplace or trading space for people to exchange these types of digital assets for money. That means if somebody has a lucrative NFT they would like to trade, they need to find another platform that will facilitate such activity.

MEXC did have NFT-related ETF indices attached to it. These worked by having MEXC buy a range of NFTs and then portion off percentages of them within an index, available to everybody else. If users purchased a certain amount of NFT index units, then they were able to get in touch with MEXC to trade them for an NFT. But these are not available anymore either.

MEXC Fees

No MEXC review, or exchange review of any matter, would be complete without a discussion of the fees. This is an area where the service shines, as MEXC’s fees are very low. For most trading pairs in spot trading, maker fees are set at 0% and taker fees at 0.05%. This is great for retail traders and institutional investors alike, as it means they do not need to worry about their money getting eaten up by the exchange itself.

Keep in mind that regular zero-fee campaigns on popular pairs can lower costs further for those keeping an eye on promotions.

MEXC futures fees are also low, with its maker fees also being 0% and taker fees being 0.02%. Besides, you can lower MEXC taker fees by 50% if you hold at least 500 MX (volume-based VIP benefits reward active traders). As for DEX+, it charges a flat 1% fee on all trades.

Overall, it's fair to say that MEXC’s low fees are one of the primary reasons why people use it. It is undeniably important that traders keep fees in mind because they are a cost that can very easily sneak up on you. Corporations factor this in as a given, but some retail traders who are just starting out can easily forget about it.

📚 Further Reading: A Guide on MEXC Fees

User Experience

Having everything I've covered up to this point in mind, it's clear that MEXC offers a feature-rich trading environment. Luckily, it's available across the web, mobile and API.

When it comes to the web-based platform, the desktop interface includes advanced charting (powered by TradingView), real-time depth across thousands of markets, and customizable layouts. Though, while MEXC offers many tools for seasoned traders, basic functions like spot trading and portfolio tracking are very easy to access, and onboarding guides help users get started quickly.

Now, MEXC's mobile app is available on both iOS and Android. It offers a streamlined version of the full platform. Users get access to spot and futures trading, staking, price alerts, and wallet tools. Recent updates have improved its speed, stability and usability.

Besides, advanced users can also take advantage of API access that supports high-frequency trading and automated trading strategies.

Customer Support

If you ever face difficulties when using MEXC, the platform offers a huge variety of channels where you can get multilingual help in 30+ languages:

• 24/7 live chat
• Ticket-based email support
• In-platform FAQs and guides
• Telegram, X, and other social channels

Live chat handles most standard queries efficiently, with more complex issues routed through the ticket system for specialized attention. Response times have improved notably since the platform has scaled, though complex account or technical issues may still require patience.

How to Use MEXC

Let’s take a look at how to get started with MEXC and begin using this exchange for yourself. While it offers advanced tools, the onboarding process is accessible even for complete newbies.

How to Sign Up on MEXC

Let's start with the sign up. In this guide, I'll focus on the MEXC website, but the usage of MEXC app is very similar:

Once you secure your account, you can go ahead and explore the ecosystem. Do keep in mind that you don't have to complete MEXC KYC for basic trading. However, you will have to pass it to increase your withdrawal limits and get access to advanced features.

📚 Read More: MEXC KYC Requirements

How to Fund Your MEXC Account

To start trading on MEXC, you'll first have to fund your account. You can either do it by depositing crypto or fiat.

Crypto Deposit

Crypto deposits are the most straightforward. Here, I'll show you how to deposit crypto if you already have some. However, if you don't have any, note that you can also go with the "Quick Buy/Sell" option.

Once you finalize the withdrawal from your wallet, the funds should arrive in your MEXC account shortly. Though it might depend on the network congestion and several other factors.

Fiat Deposit

To make a fiat deposit, you'll have to use third-party providers, like Banxa or MoonPay.

Depending on the payment method you choose, the steps for finalizing your deposit will differ.

After you fund your account, you can start trading. It would probably be best to start with familiar trading pairs, like BTC/USDT and use limit orders for greater control. If you're not sure about your trading strategies, you can always test them in the demo trading mode.

📚 Read More: How to Trade on MEXC

MEXC Legacy Features

Some features that were available on MEXC some time ago are currently discontinued. Among the most notable of these would be the leveraged ETFs.

Leveraged ETF Listings

One trading instrument that is not offered by many exchanges is leveraged ETF listings. These are a type of investment that allows you to trade a basket of assets with a multiplier. This means that you could control a larger position than you would be able to with a regular ETF, which could magnify your profits or losses, available on their website and on the MEXC app. They are not exactly futures, but they are a type of derivative that sometimes incorporates futures into them.

They were arguably a standout feature of the exchange, and are therefore worth some discussion within this MEXC review. The service offered x3 and x5 leveraged ETFs, and these could have been in short or long positions. A long position is when you buy an asset in the hope that its price will go up, and a short position is when you borrow an asset and sell it, hoping that its price will go down so you can buy it back at a lower rate.

These were in Bitcoin, Ethereum, Litecoin, and, surprisingly, even Binance ’ s BNB. On that note, it's also worth noting that Binance actually offers its own service which is similar in nature, referred to as Binance Leveraged Tokens. These are practically identical to that which MEXC provided, although it is worth taking a look yourself as there are some key and specific differences that are still relevant nonetheless.

Pros

• Secure and reliable
• Accepts fiat currencies
• Lots of trading options

Main Features

• Reputable exchange
• Accepts fiat currencies
• Offers various trading options

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Pros

• Huge trading variety
• Regulation-compliant around the globe
• Fair trading fees

Main Features

• Beginner-friendly
• A wide array of features
• Vast number of different crypto coins & tokens

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Pros

• Beginner-friendly
• Secure
• Decent trading and withdrawal fees

Main Features

• Crypto.com Visa Card
• Automated tools & bots
• Ecosystem synergy with CRO

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Conclusions

I have covered a lot in this MEXC review, looking at MEXC futures, fees, demo trading, and many other points. Considering its global status, MEXC is not available in the US and several other jurisdictions due to regulatory requirements, but it's available in over 170 countries overall. It's a broad trading ecosystem tailored for users seeking early access to trending tokens, competitive fees, and a wide range of trading pairs.

That said, new users may encounter a steeper learning curve due to the platform's feature density, and fiat on/off ramps remain limited in some regions. Of course, many people won't mind this. If it does bother you, check out other leading exchanges, such as Binance and Bybit.

Still, these factors should not overshadow the positives within my MEXC review. With zero maker fees on both spot and futures markets, flexible KYC proccess, and unique features like DEX+ and MEXC Alpha, the platform continues to evolve beyond traditional exchange models.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. C. Stein, P. Staudt, A. Greif-Winzrieth: ‘The Success of Others: Copy Trading and Risk’;

2. B. Tripathi, R. K. Sharma: ‘Cryptocurrency Exchanges and Traditional Markets: A Multi-Algorithm Liquidity Comparison Using Multi-Criteria Decision Analysis’.