MEXC ranks among the top 10 cryptocurrency exchanges by trading volume, serving over 40 million users across 170+ countries.
This review examines whether MEXC’s 2,700+ cryptocurrency selection and competitive fees justify its regulatory challenges and customer service issues.
Key Takeaways
Massive Selection: 2,700+ cryptocurrencies and 3,000+ trading pairs, more than most major exchangesLow Fees: 0% maker fees on spot trading and 0.02% taker fees on futuresNo KYC Option: Trade without identity verification (10-30 BTC daily withdrawal limit)Regulatory Red Flags: License revoked in Estonia, warnings from multiple countries, banned in US/UKMixed User Experience: 1.5/5 Trustpilot rating with complaints about frozen accounts and poor support
What is MEXC Exchange? Overview and History
MEXC Global is a centralized cryptocurrency exchange launched in 2018 as MXC.
Founded by John Chen and based in Seychelles, the platform quickly gained market share through aggressive token listings and competitive fees.
MEXC Company Background and Leadership
The exchange was created by finance and blockchain professionals who integrated DeFi features early.
MEXC operates through entities registered in Seychelles, a cryptocurrency-friendly jurisdiction with minimal oversight.
This structure allows flexible operations but limits regulatory compliance in major markets.
MEXC Global Market Position in 2025
Current metrics show MEXC’s significant market presence:
Daily Trading Volume: $2-3 billionMarket Share: ~5% of global crypto tradingCryptocurrency Listings: 2,700+ digital assetsTrading Pairs: 3,000+ active pairsTransaction Speed: 1.4 million per second
The exchange won “Best Crypto Exchange Asia” at the 2021 Crypto Expo Dubai, highlighting its strength in Asian markets where rapid token listings are particularly valued.
Key Statistics and User Base
MEXC’s growth metrics:
Registered Users: 40+ million globallyCountries Served: 170+ (excluding US, UK, China, Canada)Mobile Downloads: 10+ million (iOS and Android combined)Languages Supported: 15+Monthly Active Users: 5+ million
The platform attracts traders seeking new tokens before they reach larger exchanges.
This first-mover advantage in listings drives much of MEXC’s user acquisition.
MEXC Exchange Features and Trading Options
MEXC provides extensive trading tools for different trader types, from beginners using copy trading to professionals using 200x futures contracts.
Cryptocurrency Selection (2,700+ Coins)
MEXC lists more cryptocurrencies than almost any other exchange:
Major Assets:
Specialty Categories:
AI tokens (OPAI, GNON)Meme coins (PEPE, DOGE, MOO DENG)DeFi protocolsGameFi tokensLayer 2 solutionsWeb3 infrastructure
The exchange lists new tokens within days of launch through community voting.
MX token holders participate in listing decisions.
For traders following stablecoin news, MEXC often lists algorithmic stablecoins and new stable assets before competitors.
Trading Types Available on MEXC
Spot Trading Features
MEXC’s spot trading includes:
Order Types:
Market Orders: Instant executionLimit Orders: Set specific pricesStop-Limit Orders: Automated triggersOCO Orders: Advanced combinations
Interface Features:
TradingView charts100+ indicatorsMultiple timeframesReal-time order booksTrade history
The platform handles 1.4 million transactions per second, maintaining low slippage during volatile periods.
Futures Trading with 200x Leverage
Futures offerings include:
Contract Types:
USDT-Margined PerpetualsCoin-Margined PerpetualsQuarterly FuturesBi-quarterly Futures
Leverage Options:
Standard: Up to 200xSelect pairs: Up to 500xAdjustable in real-timeCross/isolated margin
Risk Tools:
Stop-loss/take-profit ordersHedge mode$378+ million insurance fundAuto-deleveraging
Demo trading provides 50,000 USDT virtual funds for practice without risk.
Copy Trading for Beginners
Copy trading simplifies access to professional strategies:
Process:
Browse verified tradersCheck performance metricsAllocate fundsTrades copy automatically
Available Metrics:
7-day/total ROIWin ratesMaximum drawdownFollower countTrading frequency
No extra fees apply for copy trading.
P2P Trading Options
Peer-to-peer features:
Supported Coins:
Payment Methods:
Bank transfersDigital walletsRegional payment apps
Security:
Escrow protectionUser verificationDispute resolution
MEXC Mobile App Review
Mobile app performance:
Ratings:
iOS: 4.7/5 (50,000+ reviews)Android: 4.4/5 (100,000+ reviews)
Features:
Full trading functionalityPrice alertsBiometric loginPortfolio trackingMulti-language support
Users praise the interface but report occasional connectivity issues during high volume.
MEXC Trading Fees and Costs Breakdown
MEXC’s fee structure ranks among the industry’s most competitive, especially for active traders.
MEXC Spot Trading Fees (0% Maker)
Spot fee structure:
User LevelMaker FeeTaker FeeStandard0.000%0.050%VIP 10.000%0.045%VIP 20.000%0.040%VIP 30.000%0.035%VIP 40.000%0.030%VIP 50.000%0.025%
Zero maker fees benefit market makers and frequent traders significantly.
Futures Trading Fee Structure
Futures fees remain competitive:
Contract TypeMaker FeeTaker FeeUSDT-M Perpetual0.000%0.020%Coin-M Perpetual0.010%0.050%Quarterly0.015%0.050%
Additional Costs:
Funding rates: Every 8 hours (variable)Liquidation fee: 0.5% of position
Withdrawal and Deposit Fees
Deposits:
Crypto: FreeCredit/debit cards: 2-5%Bank transfers: Varies
Withdrawal Examples:
Bitcoin: 0.0002 BTCEthereum: 0.005 ETHUSDT (ERC-20): 5 USDTUSDT (TRC-20): 1 USDT
Fees adjust based on network congestion.
How to Get Fee Discounts with MX Token
MX token holdings provide discounts:
Spot Discounts:
500+ MX: 10%2,000+ MX: 20%10,000+ MX: 30%50,000+ MX: 40%200,000+ MX: 50%
Additional Benefits:
20% futures discountPriority supportAirdrop eligibility
Is MEXC Safe? Security Features and Concerns
Security analysis reveals strong technical measures but operational concerns that users must consider.
MEXC Proof of Reserves (129.85% BTC Coverage)
August 2025 audit results:
Reserve Ratios:
Bitcoin: 129.85%Ethereum: 111.49%Tether: 104.33%USD Coin: 106.21%
Holdings:
4,627.22 BTC72,389.51 ETH2,593,847,293.41 USDT76,843,592.73 USDC
Over-collateralization provides a buffer above user deposits, with blockchain-verifiable proof published bi-monthly.
Security Infrastructure
Technical protections include:
Storage:
95%+ cold storageMulti-signature walletsHardware security modules
Access Controls:
Two-factor authenticationAnti-phishing codesWithdrawal whitelistIP restrictions
Third-Party Validation:
Hacken audit: No critical issuesBug bounty programPenetration testingISO 27001 (pending)
Security Incidents and Red Flags
Concerning events include:
Market Manipulation (March 2025):
1,668 accounts terminatedVietnam group: 168 accountsCIS group: 1,500+ accountsActivities: front-running, spoofing
Fraud Attempts:
70,000+ blocked in Q2 2025Ongoing phishing campaignsFake social media accounts
User Issues:
Unexplained account freezes”Security review” delaysFunds locked without noticeLimited transparency
MEXC Regulatory Compliance and Restrictions
Regulatory status represents MEXC’s biggest challenge, with multiple warnings limiting operations globally.
Countries Where MEXC is Banned
Major Restrictions:
United States: All states prohibitedUnited Kingdom: FCA warning listCanada: Provincial warningsChina: Mainland bannedSingapore: Non-compliantHong Kong: SFC enforcement
Additional Restrictions:
North KoreaIranDisputed territories (Crimea, Donetsk)FATF blacklisted countries
Regulatory Warnings and License Issues
Estonian License Revocation (November 2023): The Estonian FIU revoked MEXC Estonia OÜ’s license, eliminating EU regulatory coverage.Hong Kong Warning (March 2024): Securities and Futures Commission stated MEXC operates without authorization.
Other Actions:
Germany (BaFin): Unlicensed operationsAustria (FMA): Unauthorized servicesJapan (FSA): Unregistered exchangeAustralia (ASIC): No license
What This Means for Users
Implications of non-compliance:
No Legal Protection: Limited dispute recourseClosure Risk: Potential sudden shutdownsBanking Issues: Fiat transfer difficultiesTax Complexity: Unclear reportingPlatform Uncertainty: Future operations questioned
Regulated alternatives like Coinbase, Kraken, or Binance offer greater legal certainty.
MEXC KYC Verification Requirements
MEXC allows flexible verification options affecting account limits and features.
Trading Without KYC on MEXC
No-KYC accounts can:
Trade spot/futuresDeposit/withdraw cryptoUse basic features
Limitations include:
10-30 BTC daily withdrawalsNo fiat depositsLimited support priorityRestricted promotions
KYC Verification Levels and Limits
Primary KYC:
Requirements: ID + facial scanWithdrawal limit: 80 BTC dailyProcessing: 10-30 minutes
Advanced KYC:
Requirements: Address proofWithdrawal limit: 200 BTC dailyProcessing: 1-3 days
How to Complete MEXC KYC
Steps:
Click profile → “Identity Verification”Select verification levelUpload clear documentsComplete facial recognitionAwait email confirmation
Tips:
High-quality photosMatch names exactlyVerify during off-peak hours
MEXC User Reviews and Customer Feedback
User experiences show stark contrasts between satisfied traders and those facing problems.
Trustpilot and Platform Ratings
Ratings Overview:
Trustpilot: 1.5/5 (1,000+ reviews)App Store: 4.7/5Google Play: 4.4/5CoinGecko: 9/10 trust score
App ratings suggest active traders have better experiences than those encountering issues.
Common User Complaints
Top Issues:
Account Freezes:
“Risk control activated” messagesFunds locked indefinitelyExcessive documentation demands
Withdrawal Problems:
Sudden suspensionsExtended reviewsChanged requirements
Support Issues:
Generic responses24-72 hour waitsUnresolved tickets
Positive User Experiences
Satisfied users cite:
Fast executionCoin varietyFee savingsMobile functionalityEarly token access
Reddit and Community Sentiment
Platform discussions:
r/CryptoCurrency: Cautious, regulatory warningsr/MEXC: Trading-focused, more positiveTwitter: Mixed opinions
Common advice: “Trade, don’t hold”
MEXC Exchange Pros and Cons Summary
Advantages of Using MEXC
Huge Selection: 2,700+ cryptocurrencies availableZero Maker Fees: Spot trading without maker costsHigh Liquidity: $3 billion daily volumeNo KYC Required: Anonymous trading optionStrong Reserves: 129.85% BTC coverageAdvanced Tools: 200x contracts, copy tradingMobile Apps: High-rated applicationsFast Listings: Early project accessLow Futures Fees: Competitive derivatives costsGlobal Access: 170+ countries supported
Disadvantages and Risks
Regulatory Problems: Multiple warnings, revoked licensesPoor Support: 1.5/5 Trustpilot ratingAccount Freezes: Numerous frozen fund reportsNo Major Licenses: Lacks recognized authorizationCountry Bans: US, UK, Canada, China restrictedLimited Fiat: Few withdrawal methodsWithdrawal Issues: Delays and requirementsComplex Interface: Overwhelming for beginnersManipulation Risk: Low-liquidity pairs vulnerableUncertain Future: Regulatory pressure mounting
Getting Started with MEXC Exchange
For users proceeding despite risks, here’s a practical guide.
How to Sign Up for MEXC
Visit https://www.mexc.comClick “Sign Up”Enter email/phoneCreate strong passwordVerify contactEnable 2FA immediately
Security tips:
Unique emailPassword managerAll security featuresSave backup codes
Making Your First Deposit
Crypto Deposits:
Wallet → DepositSelect cryptocurrencyChoose networkCopy address carefullySend test amount first
Fiat Deposits (KYC required):
Buy Crypto → CardSelect processorEnter amountComplete verification
Placing Your First Trade
Spot Trading:
Trade → SpotSearch pair (BTC/USDT)Review orderbookChoose order typeEnter amountConfirm order
Practice with demo trading first using 50,000 USDT virtual funds.
Security Best Practices
Essential Measures:
Google Authenticator for 2FAWithdrawal whitelistAnti-phishing codesRegular withdrawalsActivity monitoring
Warning Signs:
Missing anti-phishing codesPassword requestsUnusual loginsAccount restrictions
Best MEXC Alternatives in 2025
Several exchanges offer similar features with different risk profiles.
MEXC vs Binance
Binance comparison:
FeatureMEXCBinanceVolume$3B$15BCoins2,700+350+Fees0%/0.05%0.1%/0.1%RegulationLimitedLicensedUsers40M150M
Choose Binance for regulation, MEXC for altcoins.
MEXC vs KuCoin
KuCoin comparison:
FeatureMEXCKuCoinKYCOptionalOptionalCoins2,700+700+Rating1.5/53.8/5Leverage200x100x
Choose KuCoin for reputation, MEXC for variety.
MEXC vs Bybit
Bybit comparison:
FeatureMEXCBybitFocusMixedDerivativesSupportPoorGoodCopy TradeYesYesRegulationMinimalImproving
Choose Bybit for derivatives, MEXC for spot variety.
Best Alternatives by Region
United States:
Europe:
Global No-KYC:
Conclusion
MEXC earns a 6/10 rating, excellent for accessing 2,700+ cryptocurrencies with zero maker fees, but severely compromised by regulatory problems and poor customer support (1.5/5 Trustpilot).
The exchange suits experienced traders seeking new altcoins or no-KYC trading, but remains unsuitable for beginners, long-term holdings, or users in restricted countries (US, UK, Canada).
With its Estonian license revoked and warnings from multiple regulators, MEXC’s future stability is questionable.
Users should limit exposure to small trading amounts only, withdraw profits regularly, and maintain accounts at regulated exchanges like Coinbase or Kraken for primary holdings.
Bottom line: use MEXC for what it does best, early access to new tokens, but never as your main exchange.
Read Next:
FAQs:
1. Is MEXC safe and legitimate?
MEXC operates as a functioning exchange with real volume and millions of users. Security measures include cold storage, 2FA, and proof of reserves showing 129.85% Bitcoin coverage.
2. Can US citizens use MEXC?
No, US citizens cannot legally use MEXC. The exchange prohibits US residents and doesn’t comply with American regulations. Attempting access may result in account closure and legal consequences. US traders should use regulated options like Coinbase, Kraken, or Gemini.
3. What are MEXC fees?
MEXC fee structure:
Spot: 0% maker, 0.05% takerFutures: 0% maker, 0.02% takerWithdrawals: Varies (BTC: 0.0002, ETH: 0.005)Deposits: Free for crypto, 2-5% for cards
4. Does MEXC require KYC?
No, basic trading doesn’t require KYC. Trade with just email and withdraw up to 10-30 BTC daily. KYC needed for:
Higher limits (80-200 BTC)Fiat depositsP2P tradingPromotions
5. How do I withdraw from MEXC?
Withdrawal process:
Wallet → WithdrawSelect cryptocurrencyEnter wallet addressChoose networkEnter amount/2FAConfirm via email
Always test with small amounts first.