Founded in 2018, MEXC is a professional cryptocurrency exchange designed to facilitate trading of over 1600 digital assets with low fees. In this article, we will review MEXC and uncover every aspect.
The platform is user-friendly and provides traders with access to a wide range of digital assets, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Tether, and more. It also features a state-of-the-art security system, which ensures that all trades are safe and secure.
Offering fast transactions while offering high leverage and some of the lowest fees in the market, it allows users to trade Bitcoin, Ethereum, and other digital assets with ease. In this MEXC review, we go over features, give readers an insight into its user experience, and most importantly, answer the question: Is MEXC legit?
MEXC Exchange Pros & Cons
| 👍 MEXC Pros | 👎 MEXC Cons |
|---|---|
| ✅ Lowest Trading Fees | ❌ No NFT market |
| ✅ 1700+ Cryptos | ❌ Lacks passive income products |
| ✅ Up to 200x Leverage | ❌ No Fiat Deposits/Withdrawals |
| ✅ Copy Trading | |
| ✅ Free Demo Account | |
| ✅ 24/7 Live Chat Support | |
| ✅ Very User Friendly |
Quick Overview of MEXC
MEXC is an advanced crypto exchange offering users access to a wide range of digital assets with low fees and an intuitive user interface. Its state-of-the-art security system ensures that all trades are safe and secure, while its additional features, like leverage up to 200x, low fees, copy trading, or staking, provide traders with even more opportunities for profit potential within the crypto space. For crypto traders looking for a reliable exchange platform for buying, selling, or trading digital assets, MEXC is surely a good choice. Crypto trading on MEXC comes with various advantages that will keep any trader coming back.
First of all, it is important to make sure that any cryptocurrency exchange platform is reliable and has no errors. The user interface on MEXC is designed with ease of use in mind, which means it is easy to navigate while being responsive.
Additionally, there are numerous tutorials available on the website which provide step-by-step instructions on how to use all of its features effectively.
Effectiveness is especially important when dealing with large sums of money, as one small mistake can have a major financial impact. MEXC is a top-tier exchange when it comes to liquidity and volume, with over 10 billion USD traded each day and can handle 1.4 million transactions per second.
Fortunately, MEXC puts security as its top priority when it comes to its platform. They use advanced encryption technology to protect user data and account information from hackers. Additionally, MEXC also uses multi-signature authentication, which requires multiple steps to access your account (e.g., Google Authenticator). This ensures that no unauthorized trades occur on your account. MEXC also has never been hacked. Thus, MEXC is considered among the safest cryptocurrency exchanges.
MEXC even provides full proof of reserves, which means that all customer funds are backed 1:1, in most cases even by more than 100%, which means that bank runs are the last thing to worry about. You can check the updated proof of reserves here.
Another great feature of the MEXC exchange is its market depth analysis tool. This tool allows traders to analyze the market in real time and make informed decisions about their trades. The tool provides an overview of current market conditions and allows users to quickly identify potential buying opportunities or sell signals to maximize profits. Additionally, traders can use the tool to compare different currencies against each other to find the best deals available on the market.
Aside from having a great User Interface on its website, MEXC also has an amazing mobile application for iOS and Android. The app is also easy to navigate and very fast and responsive, which means you can easily buy cryptos wherever you are.
In addition, the MEXC exchange provides an excellent educational section that can educate you on all the different aspects related to cryptocurrency trading. So even if you are a newbie or expert in the Cryptocurrency market, it can help you learn more about cryptocurrencies in detail as well as understand the various terminologies used in this field. You will also find some interesting articles written by experts who share their knowledge and experience with us so that we can learn from them easily without having difficulty understanding anything specific about cryptocurrency trading or investing in cryptocurrencies!
Lastly, MEXC is a legitimate and regulated cryptocurrency exchange that even operates in the USA with an MSB license. The USA is considered to be one of the strictest countries when it comes to financial regulations.
MEXC Spot and Futures Trading
Spot Trading on MEXC
MEXC has a wide range of different coins you can buy and invest in. With over 1800 trading pairs, MEXC is the second biggest exchange when it comes to offered coins and tokens. MEXC exchange is just the ticket for buying trendy coins and tokens. More trading pairs mean more opportunities. However, that also means you have to be extra careful when investing in new projects, as some might not be the greatest investments. Always do your research before investing in a new token. Also, take note that less-known trading pairs are not liquid enough for proper trading. That means that you can move the price a lot with just very little volume.
Overall, you have all the features you need for the spot market, like an order book, trade history, limit, market, and stop-loss orders.
You also have an option for margin trading on the spot market. With a 10x margin, you can buy $10,000 worth of bitcoin while only having $1000 available, borrowing $9000. But please note that margin trading is a lot different from the futures market. When you buy cryptos on the spot market with a margin, you usually have to pay interest on the borrowed amount, and the trading fees are higher compared to the futures market.
If you want to trade with leverage, we recommend you do that on the futures market, as the fees are lower and the liquidity is higher. Also, you have more advanced features on the futures market compared to margin trading on the spot market.
Furthermore, MEXC offers a crypto ETF crypto trading feature on their platform with leveraged tokens. When participating in ETF trading on MEXC, you will be charged a 0.001% management fee every 24 hours.
Futures Trading on MEXC (Derivates, Perpetual Futures, Leverage)
Now, we will review one of the greatest features of MEXC: The futures market. With an incredibly good User Interface and fast response time, you can execute trades with ease. MEXC’s perpetual futures market also has the lowest fees in the crypto market.
MEXC has an incredibly high speed of order execution and can easily handle 1,500,000 (1.5 million) transactions per second, making it one of the fastest exchanges. The UI on MEXC is also overall reliable, very well designed, and easy to understand. There are also many guides that you can watch on YouTube explaining all the features of MEXCs futures dashboard.
Another great feature of MEXCs futures dashboard is the integrated chart by TradingView, the biggest charting software in the world. That means you can do your analysis inside of MEXC and mark key levels so you know exactly what is going on. You can add trendlines, Fibonacci tools, patterns, indicators, and more.
The maximum leverage on MEXC is 200x on selected assets with high monthly trading volume and liquidity, like Bitcoin (BTC) or Ethereum (ETH). However, using leverage can be a double-edged sword. We highly recommend you stick with lower leverage when you are a new trader. Higher leverage comes with higher risks when the price moves against your direction.
As MEXC is a professional trading platform, it offers all required order types, including market orders, limit orders, trailing stops, multiple take profits, and stop-loss orders. Also, conditional order types GTC (Good Till Cancel), IOC (Immediate Or Cancel), and FOK (Fill Or Kill) are available.
On top of that, you can hedge on MEXC, which means you can go long and short at the same time.
MEXC Trading Fees and Withdrawal Costs
MEXC has a very competitive trading fee structure on both, the spot and the futures market.
On the spot market, the fees are at 0%. That means there is no spot trading fee and you can trade free of charge. You can check MEXCs spot fees in the screenshot below.
On MEXCs futures market, the fees are also the lowest trading fees in the industry of major crypto exchanges. Starting at 0% maker and 0.01% taker fees, MEXC easily beats the competition as no other major exchange offers 0% fee trading on the futures market.
The withdrawal fees on MEXC vary, depending on which cryptocurrency you want to withdraw and which network you choose. In order to pay low withdrawal fees, you can send USDT via the TRC20 or BEP20 network, which both cost less than $1. Other crypto assets, such as Bitcoin and Ethereum, usually have higher withdrawal fees. It is best to compare the withdrawal fees yourself, as it is different for each cryptocurrency and network.
MEXC Grid Bot Trading
MEXCs Grid Bot trading is a fully automated trading system that allows users to take advantage of market volatility.
MEXC Grid Bot trading works by setting specific parameters in order to identify profitable entry points into the market. The bot will then automatically buy and sell digital assets when these conditions are met. This means that you don’t have to manually monitor the markets, as the bot will execute trades on your behalf according to pre-defined rules.
MEXC Security
MEXC has implemented a variety of security measures, such as two-factor authentication, cold storage, and SSL encryption. These measures ensure that user data and funds are secure.
It is important to note that while MEXC does not require you to finalize your KYC, you still have the option to do so and also add other layers of security to your account, including 2FA (2-factor authentication), email authentication, SMS authentication, and Anti-phishing code. For this, we also have a Step-By-Step guide at the bottom of the page on how to set up security settings.
On top of that, MEXC is an exchange that has never been hacked.
Lastly, MEXC provides full proof of reserves. That means all users’ funds are backed 1:1 on the trading platform.
Special Events and Bonuses on MEXC
To attract and keep new customers, MEXC regularly hosts events like trading competitions and offers bonuses for active traders. That reflects well in the number of active users and new users that are signing up to MEXC, surpassing 10 million in 2022.
For new traders, MEXC has a bonus program. Based on your initial deposit and your trading volume, you can get trading bonuses worth up to $9100. You can use this bonus in your future account, trade with it, and all the profits are yours. This offer is great for people who are serious about trading. To be eligible to receive bonuses it requires a certain amount of $ deposited into your account and a certain amount of volume traded on the futures market.
MEXC Customer Support Experience
MEXC offers a comprehensive customer support service to help users resolve any issues they may have. The customer support team is available 24/7 to answer any questions or queries users may have. They can also be contacted via email, phone, or live chat.
The customer support team is knowledgeable and friendly, and they are always willing to help. The customer support team is also fast to respond to queries, which is great for those who need help quickly.
MEXC Review – Conclusion
MEXC is a great crypto exchange for both experienced and beginner traders. The platform offers a range of features and tools to help traders make informed decisions. It also offers low trading fees, making it one of the most cost-effective exchanges in the market. The platform also offers a range of order types, as well as margin and futures trading options.
The platform also offers a range of security features, including two-factor authentication, cold storage, and secure data encryption. This platform also offers a comprehensive customer support service to help users resolve any issues they may have. If you’re looking for a reliable and secure platform to trade cryptocurrencies, then MEXC is a great option. Sign Up to the MEXC exchange here and take advantage of their great features and services.
If MEXC sounds like a good option to you, you can create your account here or by clicking the yellow button.
We hope that this MEXC exchange review helped you answer the question of whether MEXC is a legitimate exchange or just another crypto scam! If you now feel comfortable giving MEXC a try, we even have a full account setup guide here, where we go over the account creation process and the most important security measures that you should set up.
FAQs
Is MEXC safe?
Yes, MEXC is a safe crypto platform that takes security very seriously. The exchange uses advanced security measures such as two-factor authentication, cold storage, and SSL encryption to ensure that user data and funds are secure. MEXC also has never been hacked.
Is MEXC legit?
MEXC is a legit cryptocurrency trading platform with high security standards. MEXC operates in 170 countries and has over 10 million users worldwide.
Does MEXC require KYC?
MEXC is known as a “Non-KYC” exchange. That means you do not have to perform KYC, but you can still trade. Just note that some countries are restricted, so you might have to use a VPN to access MEXC. However, we do not recommend using VPNs in order to access certain platforms. It is better to find one that is not restricted to your location.
Is MEXC legal in the USA?
MEXC is legal in the USA. MEXC has an MSB license and is operating in the United States of America.
Does MEXC allow customers from the US?
Yes, MEXC does allow US customers on their site, and we found MEXC to be one of the best crypto exchanges for US citizens without any restrictions.
Does MEXC allow customers from the UK?
Yes, MEXC does allow UK customers on their site, and we found MEXC to be one of the best crypto exchanges for UK citizens without any restrictions.
What are the Fees on MEXC?
With 0% maker and 0.01% taker fees, MEXC has the lowest futures fees in the crypto market. MEXC Spot fees are 0%, meaning you can trade free of charge.
If I don’t have cryptocurrencies yet, can I buy them from MEXC directly?
Yes. MEXC offers you a “One-Click Buy” option to buy cryptocurrencies with FIAT. Supported payment gateways are Credit Cards, Google Pay, Bank Transfer, SEPA, Wise, Revolut, iDeal, and more. MEXC also supports most FIAT currencies, including, but not limited to, USD, EUR, GBP, AED, CHF, RUB, and more.
Alternatively, you can onramp FIAT via deposits and then buy the cryptos you desire on the spot market. Supported currencies for this are USD, EUR, GBP, RUB, ARS, BRL, and TRY. The payment methods vary depending on your currency, so we recommend you see what works for you here.
How many cryptocurrencies can I trade on MEXC?
MEXC has over 1800 cryptocurrencies that you can trade.
Does MEXC have a mobile app?
Yes, MEXC has a mobile app that allows traders to trade on the go. The app has a clean design and is easy to navigate while also being very fast and responsive.
Where is MEXC located?
MEXC has its headquarters in Singapore and was established in 2018.
