MEXC Review 2024: Analyzing Fees and Trading Features

Cryptocurrencies have transformed how we think about money, offering decentralized, borderless financial systems. But for these digital assets to thrive, they need a place to be traded, and that's where crypto exchanges come in. These platforms are essential, acting as the hubs where buying, selling and trading of cryptocurrencies occur.

As the crypto market expands, exchanges face increasing competition, driven by the need for low fees, robust security and a wide selection of assets. MEXC is one exchange in the crypto space.

In this MEXC review, we’ll explore how it rises to these challenges, offering a blend of features that make it a strong contender in the ever-evolving world of crypto trading. Whether you're a seasoned trader or just starting out, understanding what sets MEXC apart could be of good value in helping you navigate your crypto journey successfully.

MEXC Review Summary

MEXC is a cryptocurrency exchange that balances low fees with robust security features, catering to both new and experienced traders. It offers a wide range of trading tools and a vast selection of cryptocurrencies, making it a versatile platform.

The Key Features of MEXC are:

Here's a breakdown of the key features that make MEXC an appealing choice:

• Comprehensive Trading Options: Engage in spot and futures trading with up to 200x leverage.
• Low Trading Fees: Benefit from 0% maker and 0.0% taker fees on spot; 0% maker and 0.01% taker fees on futures.
• Extensive Cryptocurrency Support: Trade over 2,500 cryptocurrencies and over 2,900 pairs, according to CoinGecko.
• Advanced Security Measures: MEXC ensures safety with 2FA, cold storage, and regular security audits.
• User-Friendly Interface: Accessible and intuitive design for both web and mobile platforms.
• Copy Trading: Replicate successful trades from experienced investors with ease.
• Flexible Deposit Options: Supports multiple fiat currencies and deposit methods, though fiat withdrawals aren’t available.
• Demo Trading: MEXC offers a Demo Trading feature that allows users to practice trading strategies in a risk-free environment using virtual funds.
• P2P Trading: MEXC’s P2P Trading platform enables users to buy and sell cryptocurrencies directly with each other, offering flexible payment options and enhanced privacy.
• Educational Resources: Access tutorials, guides, and market analysis to enhance your trading knowledge.
• Referral and Affiliate Programs: Earn commissions by referring new traders to MEXC.

What is MEXC?

MEXC is a cryptocurrency exchange founded in 2018, recognized for its high-performance transaction matching technology.

The platform serves over 10 million users across more than 170 countries and regions worldwide. MEXC's exchange engine, developed by banking industry experts, can process 1.4 million transactions per second, ensuring efficiency and performance. The exchange offers a wide range of cryptocurrencies and trading pairs, supports multiple languages for localized trading experiences, and prioritizes user security with a multi-tier, multi-cluster system architecture.

MEXC has rapidly grown, capturing a 5% global market share and earning accolades such as the "Best Crypto Exchange Asia" award at the 2021 Crypto Expo Dubai.

On the regulatory side, however, the exchange leaves more to be desired.

MEXC obtained several licenses in 2020, including from AUSTRAC in Australia, an MSB license in the US, and an Estonian MTR license, allowing it to offer digital currency exchange, wallet, and remittance services globally. However, in 2023, MEXC faced regulatory challenges, receiving warnings from the British Columbia Securities Commission (BCSC), Austria’s Financial Market Authority (FMA), and Germany’s BaFin. Additionally, its Estonian license was revoked by the FIU in November 2023. In March 2024, Hong Kong's Securities and Futures Commission said MEXC was operating without a license.

Despite these issues, MEXC emphasizes security through 2FA, a mix of cold and hot wallets, and has published its proof of reserves.

The platform supports a wide range of cryptocurrencies, enabling users to trade both popular and niche assets, making it a preferred choice for those looking to diversify their portfolios.

Getting Started with MEXC

Starting your journey with MEXC is like gearing up for an adventure—you just need the right prep.

1. Create your MEXC account: The first step is creating your account, which is a breeze. Head over to the MEXC homepage, and hit the “Sign Up” button. You’ll be prompted to enter your email or phone number, set a strong password, and voilà, your account is ready.

2. Complete KYC: Now, if you're serious about trading, you’ll need to complete the KYC (Know Your Customer) process. This step is vital for unlocking all the features MEXC offers, like higher withdrawal limits and access to more trading options. The KYC process is straightforward — just upload your ID and a selfie, and you’re usually verified within minutes.

3. Fund your account: Once your account is verified, you can fund it. MEXC makes this easy with a variety of deposit methods, including bank transfers, credit/debit cards, and even other cryptocurrencies. Simply choose your preferred method, follow the prompts, and your funds will be ready to use in no time.

4. Start Trading: With your account funded, you’re all set to start trading. MEXC’s user-friendly interface ensures that even if you’re new to crypto trading, you won’t feel lost. The platform offers a range of trading options, from spot trading for those who want to buy and hold, to futures trading for the thrill-seekers looking to leverage their positions.

And don’t worry if you’re not a pro — MEXC’s educational resources and support are there to guide you every step of the way. Whether you’re exploring the market for the first time or looking to fine-tune your trading strategy, MEXC is equipped to help you get started with confidence.

Supported Cryptocurrencies

MEXC supports a wide range of cryptocurrencies. Whether you’re into mainstream coins like Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), or looking to invest in more niche altcoins, MEXC has you covered.

With thousands of cryptocurrencies listed, MEXC offers one of the most extensive selections in the market. This includes not just the big names but also a variety of DeFi tokens, NFTs, and emerging projects that are yet to hit the mainstream. Essentially, if a cryptocurrency exists, there’s a good chance you can trade it on MEXC.

• Mainstream Cryptocurrencies: These include the most well-known coins like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) etc.
• Stablecoins: MEXC supports popular stablecoins like Tether (USDT) and USD Coin (USDC), which are pegged to fiat currencies, providing a stable trading option in a volatile market.
• Altcoins: The exchange offers a plethora of altcoins, including many emerging and niche projects that provide opportunities for higher gains (and risks).
• DeFi Tokens: For those interested in decentralized finance, MEXC lists numerous DeFi tokens, enabling users to participate in this growing sector.

This extensive variety makes MEXC an ideal platform for traders who want to diversify their portfolios across different types of digital assets. Whether you're a fan of the classics or on the hunt for the next big thing, MEXC offers a broad canvas for your trading strategies.

Supported Deposits

MEXC makes it easy to fund your account with a variety of deposit methods, catering to users worldwide. Here’s a quick rundown of how you can deposit funds into your MEXC account:

• Fiat Currencies: MEXC supports several fiat currencies, including USD, EUR, and GBP. You can deposit fiat via bank transfers, credit/debit cards, or third-party payment processors. This flexibility allows users to start trading quickly, no matter their location.
• Cryptocurrency Deposits: If you already hold cryptocurrencies, you can deposit them directly into your MEXC account. The platform supports a wide range of cryptocurrencies for deposit, making it easy to top up your account with your preferred digital asset.
• OTC (Over-the-Counter) Services: MEXC offers OTC services for large fiat-to-crypto transactions. This is ideal for users looking to make significant investments with minimal slippage and at competitive rates.
• Third-Party Payment Providers: MEXC partners with third-party services to enable quick and seamless deposits. These providers often offer more localized payment methods, which is particularly beneficial for users in regions with specific banking requirements.

MEXC Review: Trading Features

MEXC offers a versatile trading platform designed to cater to both novice and experienced traders. Here's a deep dive into its trading features:

Spot Trading

MEXC’s spot trading platform is designed to cater to a wide range of cryptocurrency traders, offering a vast selection of over 2,500 digital currencies and more than 2,900 trading pairs. This diversity includes various trading pair types, such as stablecoin-to-crypto pairs (e.g., BTC/USDT, BTC/USDC, BTC/TUSD) and crypto-to-crypto pairs (e.g., BTC/ETH), allowing traders to engage in different trading strategies based on their preferences and market conditions.

MEXC provides several order types:

• Limit Order: This allows traders to set a specific price at which they want to buy or sell a cryptocurrency. The order is only executed if the market price reaches the specified price, offering control over the trading process.
• Market Order: For those looking for simplicity and speed, the market order executes the trade at the best available market price at that moment, enabling quick transactions without waiting for a specific price point.
• Stop-Limit Order: This is a more sophisticated tool that combines features of both limit and stop-loss orders. Traders can set a “stop price” that, when reached, converts the order into a limit order. This is particularly useful for risk management, allowing traders to automatically sell assets if the price falls below a certain level, but with the added control of setting a minimum sale price.
• One Cancels the Other (OCO): An advanced option for seasoned traders, the OCO order allows traders to place two orders simultaneously—a stop-loss order and a take-profit order. If one order is executed, the other is automatically canceled. This strategy is useful for managing trades with predefined risk and profit targets.

In addition to these order types, MEXC offers a range of technical indicators to help traders analyze market trends and make informed decisions. These include popular tools like K-lines, moving averages, and the Moving Average Convergence Divergence (MACD) indicator, which are essential for identifying price trends and potential trading opportunities.

To further enhance the trading experience, MEXC integrates with TradingView, a widely used charting platform favored by professional traders. This integration provides access to even more advanced charting tools and analytical features, allowing traders to conduct in-depth market analysis and refine their trading strategies.

Perpetual Futures Trading

MEXC offers a platform for trading perpetual futures contracts, a type of derivative that allows traders to speculate on the future price of cryptocurrencies without actually owning the underlying asset. Unlike traditional spot trading, where you buy or sell cryptocurrency immediately, futures trading involves agreeing to buy or sell a specific amount of cryptocurrency at a fixed price on a future date.

MEXC provides access to more than 300 different futures contracts, with leverage options of up to 200x. This means traders can control a position much larger than their initial investment.

❗Futures trading is highly risky and involves significant potential for loss, especially when using leverage ❗

There are two primary types of futures contracts available on MEXC:

• USDT-Margined Perpetual Futures: These contracts are settled in Tether (USDT), a stablecoin pegged to the US dollar. When the contract is closed, any profits or losses are paid out in USDT.
• Coin-Margined Perpetual Futures: These contracts are settled in the actual cryptocurrency itself. For instance, if you hold a long position on a Bitcoin futures contract, you will receive BTC when you close the position.

One of the key features of MEXC's futures trading platform is the use of perpetual contracts, which differ from traditional futures contracts by not having an expiration date. This allows traders to hold positions for as long as they want, without worrying about contract expiration.

To enhance control over trades, MEXC offers advanced order types beyond those available in spot trading:

• Trailing Stop Orders: These orders automatically adjust as the market moves in your favor, locking in gains while limiting potential losses if the market reverses.
• Trigger Orders: These orders are activated only when a specific price level is reached, allowing you to set precise entry or exit points for your trades.
• Post-Only Orders: These orders ensure that your trade is only executed if it can be matched at your specified price, adding liquidity to the market without risking unintended trades. This type of order helps reduce the risk of price slippage.

MEXC also offers two margin modes for futures trading:

• Isolated Margin Mode: This mode allocates a specific amount of your wallet balance to each position, ensuring that losses in one position do not impact your other positions. This can help manage risk more effectively.
• Cross-Margin Mode: In this mode, your entire wallet balance is used to support all your open positions. While this can be more efficient in terms of margin use, it also carries a higher risk, as losses in one position can affect your entire portfolio.

MEXC Futures M-Day

MEXC Futures M-Day is a special event designed to incentivize users to engage in futures trading.

The MEXC Futures M-Day event offers users a chance to participate in a lucky draw with multiple rewards. Registration is open throughout the event period, and users can earn more tickets by trading futures with higher leverage. The more tickets you accumulate, the higher your chances of winning in the system's lucky draw.

Winners can enjoy various rewards, including extra lucky bonuses. Even if you don’t win, you can still share in the participation reward pool, with rewards distributed proportionally based on the number of tickets held.

MEXC Copy Trading

MEXC’s Copy Trading feature is ideal for those looking to learn the ropes without diving deep into market analysis. Imagine being able to follow and replicate the strategies of seasoned traders with just a few clicks.

Here’s how it works: You browse through a list of successful traders on the platform, check out their stats, and decide whose trades you want to copy. Once you select a trader, their trades are automatically mirrored in your account in real-time. It’s a hands-off approach to trading that allows you to benefit from the expertise of others while learning from their strategies.

MEXC’s Copy Trading also offers flexibility. You can choose to copy all trades, set specific parameters like investment amounts, or even pause the copying whenever you want. This makes it an ideal feature for those who are busy or new to the trading world but still want to participate in the crypto market.

Also, check out our picks for the top crypto copy trading platforms.

MEXC Fees

MEXC’s fee structure is highly competitive, especially for active traders. 

Here's a detailed breakdown:

• Spot Trading Fees: Currently, MEXC offers a promotional rate with 0% fees for makers and 0% for takers on all spot trading pairs. Typically, the standard fee is 0.1% for both makers and takers, which is already among the lowest in the industry.
• Futures Trading Fees: Makers on MEXC enjoy a 0% fee, while takers are charged just 0.01%. This low-cost structure is particularly attractive for those trading high volumes.
• Deposit and Withdrawal Fees: Deposits are free, though network fees may apply depending on the blockchain.

This transparent fee structure, combined with promotional offers, makes MEXC a cost-effective platform for both beginners and experienced traders.

MEXC Savings

MEXC Savings is a service that allows users to earn yield by staking their cryptocurrency, offering two options:

• Locked Savings: Users lock their assets for a set period, similar to a fixed deposit in traditional banking, with no early withdrawal allowed. The MEXC is currently offering 5% APR on Toncoin, 6% on USDT, 1.8% on BTC and 4.8% on ETH, among many other options. 
• Flexible Savings: Users can trade, transfer, and withdraw assets at any time, akin to a traditional savings account, while still earning rewards. USDC and USDT will currently fetch you 6% APY, while BTC will get 0.38% and ETH will earn you 0.55% 

Staking on MEXC involves participating in this savings program, and unlike traditional staking tied to Proof of Stake (PoS) tokens, MEXC allows staking even for non-PoS tokens such as Bitcoin.

MEXC Launchpad

MEXC Launchpad is a platform designed to help new blockchain projects successfully launch by carefully selecting and vetting potential projects based on team experience, market demand, and development plans. Users can commit MX tokens to participate in airdrops and receive project tokens at an initial price, offering early access and potential returns.

Key features of MEXC Launchpad:

• Wide Range of Cryptocurrencies: Offers diverse trading options to match various investment goals.
• User-Friendly Platform: Easy to navigate, suitable for both beginners and experienced traders.
• High-Security Standards: Utilizes advanced security measures like two-factor authentication and encryption.
• Transparent Transactions: Ensures clear monitoring of transactions for fair dealings.

MEXC Referral & Affiliate Program

MEXC offers referral and affiliate programs as well.

Referral Program: This is an easy way to earn by sharing your unique referral link. Commissions start at 30%, but if you hold between 5,000 and 20,000 MX tokens, your commission can rise to 70%. You’ll continue earning from your referrals’ trades for up to 1,080 days (3 years). Additionally, the program allows you to track your referral performance through a user-friendly dashboard, making it easy to monitor your earnings and referral activity.

Affiliate Program: Designed for those with a larger audience, like influencers or bloggers. Affiliates must apply through the MEXC Affiliate Portal and, once approved, can earn commissions starting at 50%, with access to exclusive benefits. Affiliates also receive a 10% commission on the earnings of their sub-affiliates. This program includes exclusive trading events, VIP services, and the opportunity to recommend investment projects to MEXC. Affiliates benefit from detailed performance reports and dedicated support to maximize their promotional efforts.

MEXC Loans

MEXC Loans provides a straightforward way to borrow funds against your crypto assets. Here’s how you can avail a loan:

1. Select Your Collateral: Choose from a variety of cryptocurrencies to use as collateral. MEXC supports a wide range of assets, allowing you to leverage your existing holdings.

2. Choose the Loan Currency and Amount: Pick the currency you wish to borrow, whether it’s a stablecoin like USDT or another crypto.

3. Set the Loan Period: Decide on available loan periods such as 30, 60, or 90 days. Longer terms usually come with higher interest costs, so choose a duration that aligns with your financial strategy.

4. Review and Confirm: After setting the amount and duration, review the terms, including the daily interest rate, and confirm your loan.

Once approved, the loan amount will be credited to your account, while your collateral will be locked until the loan is repaid.

MEXC Security

MEXC employs several robust security measures to protect user assets:

• Two-Factor Authentication (2FA): MEXC offers 2FA via email verification or the Google Authenticator app, adding an extra layer of security beyond just a password. This ensures that even if your password is compromised, your account remains secure.
• Cold Storage: The majority of user funds are stored offline in cold wallets, significantly reducing the risk of hacking. Cold storage is a widely recognized method for safeguarding large amounts of cryptocurrency.
• Encryption: MEXC uses SSL and AES-256 encryption to secure communication between users’ devices and its servers. This level of encryption is considered highly secure and is used by financial institutions worldwide.
• Phishing Protection: An anti-phishing code feature helps users verify legitimate emails from MEXC. This feature is crucial in preventing phishing attacks, which are common in the crypto space.
• Withdrawal Whitelisting: Users can restrict withdrawals to pre-approved addresses, enhancing protection against unauthorized access. This adds an extra layer of security, ensuring that even if someone gains access to your account, they cannot withdraw funds to an unapproved address.
• Penetration Testing and Bug Bounty Program: MEXC regularly conducts penetration tests and incentivizes reporting of vulnerabilities through a bug bounty program. This proactive approach helps identify and fix security issues before they can be exploited.

CER.live, which assesses crypto exchange security, gave MEXC a security rating of “A” with an 80% security score.

MEXC Review: Closing Thoughts

MEXC boasts low trading fees, an extensive range of cryptocurrencies and robust security measures. Founded in 2018, it has grown rapidly, serving over 10 million users across more than 170 countries. MEXC’s advanced features, including spot and futures trading, copy trading, and a diverse selection of digital assets, cater to both new and experienced traders.

The platform’s user-friendly interface, combined with its strong security protocols—such as two-factor authentication, cold storage, and encryption—provides a secure environment for trading. MEXC also offers additional features like MEXC Launchpad for early access to new projects, a comprehensive referral program, and flexible savings and loan options, enhancing its appeal.

However, MEXC faces regulatory challenges, having encountered issues with several global financial authorities. Whether you’re looking to diversify your portfolio, engage in advanced trading strategies, or explore new projects, MEXC offers a solid foundation, but users should remain informed and cautious as they manage their crypto investments.