MEXC is a centralized cryptocurrency exchange (CEX). The Seychelles-based platform offers spot and futures markets, as well as margin and ETF trading. Additionally, users can access market simulations, grid trading, and staking services.
The MEXC cryptocurrency exchange is available in more than 70 countries. It has received licenses to operate and passed jurisdictions in Estonia, Australia, Switzerland, Canada, and the US. The platform offers more than 1,500 assets. MEXC is KYC-compliant. The service is available on both desktop and mobile devices.
The MEXC crypto exchange ecosystem hosts its native asset, MX. Customers that have MX in their accounts are eligible for a MEXC crypto fees deduction. Additionally, MEXC VIP users also receive special discounts and fee rates.
There are over 2,100 MEXC trading pairs available in the spot market and over 200 listed in derivatives trading. The spot market primarily offers crypto-crypto listings. According to the company, new assets are frequently listed on the MEXC crypto exchange.
MEXT supports margin and quantitative (grid) trading. It enables quantitative trading strategies in the MEXC spot market. Customers can manually set up their preferred strategies or use the trading bot for no additional MEXC exchange fees.
The MEXC spot market has a fixed maker-taker fee rate of 0.200%. MX token holders can receive a 20% discount on MEXC crypto fees.
There are two types of futures contracts in the MEXC cryptocurrency exchange – USDT-margined (USDT-M) and coin-margined (COIN-M). MEXT also supports demo trading. This service runs market simulations, allowing traders to run hypothetical strategies without risking their assets.
In the MEXC futures market, customers can trade using up to 125x leverage. Futures contracts can also be used to hedge certain spot positions. Traders can participate in gamified events and be ranked on the weekly leaderboard based on their performance. Trading events offer winning pools in digital assets, such as USDT.
The seven-tier trading fees in the futures market use the maker-taker model. The tiers are LV 0 – LV 6, determined by the 30-day MEXC trade volume or the futures wallet balance. All MEXC crypto prices for volume and balance are expressed in USDT.
At Level 0, the futures wallet balance is under 10,000 USDT, and the 30-day MEXC volume does not exceed 10 million USDT. The maker-taker fees before the discount are equal across all levels, starting at 1%. However, after the discount, the fees are reduced to 0.020% for makers and 0.060% for takers.
At Level 6, the required wallet balance is at least 500,000 USDT, while the 30-day MEXC volume is at least 500 million USDT. The non-discounted fee is 0.7%, while the discounted MEXC crypto price is 0.014% for makers and 0.042% for takers.
In addition to the standard spot and derivatives markets, the MEXC crypto exchange offers copy trading. It allows customers to copy the trading strategies used by high-profile traders and apply them to their own market behavior.
Two types of exchange-traded funds (ETFs) are available on the MEXC cryptocurrency exchange – leveraged and index ETFs. Leveraged ETFs can be traded on the spot market. They offer up to 5x leverage.
Customers that use leveraged ETFs are subject to some MEXC exchange fees, including trading and management fees. The trading fee rate is equal to that of the spot market. The daily management rate is 0.001%.
Purchases can be made using major payment methods like debit and credit cards, as well as bank transfers. Peer-to-peer (P2P) trading is enabled for large-scale transactions.
There are no deposit fees on the MEXC cryptocurrency exchange. Withdrawal fees are dynamic. The rate is automatically calculated based on the network status. The withdrawn MEXC crypto price value does not affect the fees.
Launchpad and Kickstarter are two programs set up to provide exposure and funds to upcoming and new blockchain projects. MEXC Launchpad is a marketplace for new tokens at low costs. Kickstarter is an event platform that allows users to vote on pre-launch projects.
In November 2021, the company launched MEXC Pioneer. It’s a platform that provides financial support for new blockchain projects in decentralized finance (DeFi).
Trade Mining is another gamified feature for MEXC users. Customers that trade selected tokens are eligible to win rewards from a prize pool. The Trade Mining platform is not open to API traders or institutional users.
MEXC Staking is the platform for passive earnings. There are two types of staking – flexible and locked. Assets that are staked flexibly can be withdrawn at any time. Locked staking means that the staking period is predetermined, and the assets cannot be accessed until the locked period ends.
About the Company
MEXC was founded as MXC Exchange by Metin Mehmet Durgun in 2018. In June 2021, it was announced that the company would rebrand to MEXC Global as its business model started focusing more on globalization. While the company was previously based in Singapore, the current headquarters are in Victoria, Seychelles.
In 2021, the monthly visitor rate was estimated at 5 million. It was reported in 2022 that MEXC had more than 7 million users. In June 2022, MEXC announced a partnership with BitKan, a cryptocurrency brokerage exchange.
Metin Mehmet Durgun is the founder of the MEXC exchange. He’s an economist who has worked on several business development projects in the FinTech industry. He’s part of the Business Development team in the APAC region at the blockchain financial infrastructure company Simplex.
John Chen Ju is the CEO of MEXC. He’s a computer scientist with prior experience in various startups and technology companies in the APAC region, including iTechBlack and Zallchain. Chen took over as the CEO in May 2021.