MEXC Review 2024

MEXC is a leading cryptocurrency exchange and trading platform. They support 1533 coins across 1833 markets.

In this review, we'll cover everything you need to know before signing up. All the main features, pros and cons, included.

Summary

Pros

Offers over 1,600 cryptocurrencies for trading, including lesser-known altcoins
Zero percent trading fee for spot trading and minimal withdrawal fees
Advanced trading features including spot, margin, futures, and perpetual contracts
User-friendly interface suitable for both beginners and experienced traders
Supports a variety of order types including stop-loss, take-profit, and iceberg orders
High liquidity and efficient trading engine handling 1.4 million transactions per second
Offers staking and passive income opportunities with competitive APYs
Supports multiple deposit and withdrawal methods including debit/credit cards and third-party payments
Strong security measures including multi-signature and cold storage for digital assets
Educational resources and demo trading options for new users

Cons

Limited availability in certain countries, including the US
Customer support has received mixed reviews and lacks a dedicated FAQ section
High spreads on simple buy/sell transactions
Complex interface may be overwhelming for beginners due to the vast range of trading products
Advanced KYC verification process can be time-consuming
No support for fiat trading pairs on some advanced trading features
Withdrawal limits vary based on verification levels, which may be restrictive for some users
Quality of traders on the copy-trading platform can be inconsistent

Features

Spot Trading

MEXC allows you to trade, buy, and sell, crypto on spot markets. Meaning you're trading the real thing. You can deposit and withdraw this crypto.

Futures Trading

MEXC supports futures trading. Derivative contracts that you can trade on leverage without providing margin.

P2P Trading

MEXC support P2P trading. Where you trade directly with other people through specific payment methods or giftcards.

Trading Bots

MEXC has trading bots that you can use to automate your trading strategies.

Copy Trading

MEXC supports copy trading, an automated method of copying other people's trades; great if you're a newbie, or if you're not the best trader.

Staking

MEXC allows you to stake your crypto and earn passive income.

Margin Trading

MEXC supports trading on margin. Leveraged trading where you must put up collateral.

Launchpad

MEXC has a launchpad for new, exciting tokens. Often low marketcap tokens that are yet to blossom into maturity.

Money

Fees

Like all centralized exchanges, MEXC charges fees. This is how they generate revenue, and keep their operation running.

Deposit fees. Fortunately, most centralized exchanges don't charge deposit fees when you deposit with crypto. Though, they charge for fiat deposits, which vary dependant on the payment processor and fiat option that you're using.
Withdrawal fees. MEXC charges withdrawal fees. They vary based on what you are withdrawing and the payment method that you're using. Crypto withdrawals will also incur network transaction fees, they are not paid for by MEXC.
MEXC's maker fees: 0%*
MEXC's Taker fees: 0.1%*

Maker/taker fees are tiered. As you trade more and generate volume, they often fall.

Payment Methods

MEXC supports 2 payment method(s). You can use the following the deposit/withdraw to/from the exchange.

Credit/Debit Card
Bank Transfer

Be aware that they may be withdrawal/deposit limits imposed, and the payment methods may also vary based on your location.

MEXC supports 3 fiat currencies.

Security

Keeping your funds safe

MEXC offers 2 additional layer(s) of security. Aside from the obvious -- email and password.

KYC

MEXC requires KYC to use their services. KYC usually involves sharing your personal details, some form of ID, a mobile phone number, and in some cases, proof of address.