MEXC Exchange Review 2022: App, USA Customers & Safety

Chief Editor
Publish date: Sep 15, 2022
Last updated: Sep 19, 2022

In this MEXC Global review, we take a closer look at how the team behind this derivative and social cryptocurrency trading platform has created one of the fastest matching engines on the market to service the most active traders. The mega transaction matching technology makes it possible for the trading platform to handle up to 1.4 million trades per second. While this is impressive there are other important features that MEXC offers such as social trading, grid trading, futures market, staking, and a very user-friendly fiat on-ramp. Keep reading to learn more about how nearly 7 million users have come to like this exchange.

Our rating:
3.88/5
Trustworthy
Non-Regulated
Seychelles flag
MEXC
Founded March 2018
Owner MEXC Global Ltd
Type Cryptocurrency Derivatives Exchange
Fees 0.20%
account minimum 30$
Best for All Traders

Pros

• Offers leveraged ETF
• Great trading tools for crypto day traders
• Offers several trading products including fiat on ramps

Cons

• US customer availability is not clear
• Not a regulated exchange
• Lacks a proper educational hub for beginner traders

Why MEXC

In this section of our MEXC review we highlight 6 special features that deserves extra attention.

Make money by copying profitable traders and follow their strategies automatically.
Copy Trading
Make money by copying profitable traders and follow their strategies automatically.
Enter and exit the market in less than milliseconds. Best tools for fast day traders and scalpers.
Fast Execution Speed
Enter and exit the market in less than milliseconds. Best tools for fast day traders and scalpers.
Trade or invest on the go with your smartphone. Keep track of your portfolio where ever you are.
Trading App
Trade or invest on the go with your smartphone. Keep track of your portfolio where ever you are.
Keep track of which market is winning and which one is losing today. A good way for day traders to find volatility.
Daily Gainers & Losers
Keep track of which market is winning and which one is losing today. A good way for day traders to find volatility.
Enjoy instant live chat answers and accurate explanations from a dedicated support agent who is on point!
Professional Support
Enjoy instant live chat answers and accurate explanations from a dedicated support agent who is on point!
Register your account with lightning speed and start trading within minutes. Never miss a trade setup.
Quick Registration
Register your account with lightning speed and start trading within minutes. Never miss a trade setup.

About MEXC

Since MEXC Global was launched back in 2018, it has gotten a reputation for being a high-performance cryptocurrency exchange where efficiency and enhanced matching engines were designed by a group of professionals coming from the traditional banking sector. The team behind the platform which is operated by the company MEXC Global Ltd has a common goal of becoming the go-to trading platform for all crypto traders.

Being a relatively new exchange and currently not regulated we have carefully examined MEXC to see whether it is a trustworthy place to start trading and from what we can see, there should be no worries at all. The platform offers the most security protocols that other regulated exchange offers such as 2fa-authenticator, anti-phishing code, mobile phone verification, withdrawal whitelist, and email verification.

MEXC Global Ltd has the main office registered at Sertus Chambers, Second Floor, The Quadrant, Manglier Street, Victoria Mahé, Seychelles.

Why we like MEXC

At a first glance when entering the MEXC Global exchange you can immediately notice a user-friendly interface which so many of today’s crypto exchanges get wrong. However, MEXC has done a very good job at separating the different products through the main menu and it’s very easy to find what you are looking for.

From the home page, you can easily find the most important markets to trade along with the biggest movers of the day which is something that every day trader will appreciate. The daily gainers’ tab is a filtering mechanism that lists all the coins that have made the biggest moves in the last 24 hours. Here you will be able to find the most volatile coins on the market and trade them directly through their interface.

The trading fee of MEXC is also very favorable. The spot fee starts at 0.20% and moves down along with your volume. The futures trading fee starts at 0.060% for takers and 0.020% for market makers which is a fee that can compete with most other similar platforms and come out on top.

MEXC is not only a good exchange when it comes to active traders. There are plenty of products for both passive investors and other crypto enthusiasts that are looking to leverage their crypto knowledge and token holdings.

Trading and products on MEXC

I want to start by explaining that the MEXC Global exchange has been built for being capable of handling large and frequent trading without experiencing any sort of downtime due to massive floods of orders going through the order book. This is a standard problem with most crypto platforms for day trading, even the most popular ones.

There are six different options for traders to choose from when it comes to trading on the MEXC exchange:

  • Spot – Trade cryptocurrencies without leverage
  • Futures – Trade the future price of coins with leverage
  • Margin – Invest in margin-traded crypto contracts
  • ETF – Trade leveraged Exchange Traded Funds
  • Copy trading – Copy other profitable traders
  • Automated trading – Trade the market using a grid bot

This range of trading products covers most aspects of crypto trading and I could almost guarantee that no matter your trading approach, you will find what you are looking for at MEXC.

The charting interface is equipped with Tradingview charts to ensure the best experience when doing technical analysis and regarding the order types, we are happy to tell you the MEXC Global offers a real stop loss order and a proper take profit order that is easy to add, even for a brand new beginner.

On top of these products and tools you can also test out the platform and demo trade any coin you would like. This way you get to try the platform free from risk and also practice some of your latest crypto day trading strategies.

How to get started on MEXC

The onboarding process on MEXC is very streamlined. There are two ways to join the platform, with your mobile number or with your email address. I used our Trading Browser email address and I was registered within a few seconds.

From here you need to enter the confirmation code that MEXC sends to your email address to confirm that you are the owner of the email.

Now, when it comes to starting your trading on MEXC you can either choose to send your own cryptocurrencies to the platform and skip the KYC process or buy coins through one of the fiat payment vendors. If you choose the latter you will be asked to send in your KYC documents, however, this is a rapid process.

Once your KYC documents are in place and your crypto wallet has been funded you can start looking for a product or trading contract that suits you. All of the main products can be located on the main menu. Rember, only the Spot market will offer contracts without leverage so stick to this one if you are a complete beginner.

Those of you who have a little bit more experience and would like to trade on margin can choose either the Margin pit or the Futures market. Here MEXC offers leverage ratios up to 1:125.

MEXC Global at a glance

Costs:4.6/5
Security:3.8/5
Trading Features:4.7/5
User-friendliness:4.4/5
Educational Resources:3.5/5
Mobile-Friendly:5.0/5
Funding:4.2/5
Customer Support:5.0/5

Some things that MEXC missed

When talking to the customer support agent in the live chat I didn’t get a clear message about their licenses and regulations. The terms and conditions clearly state the exchange has refused new registrations from the United States.

When you google whether the MEXC exchange is regulated you get redirected to their about page where they state that they have obtained licenses in the United States, Estonia, and Australia. Moreover, in a press release by GlobeNewswire on June 10th, 2021, they indicate that MEXC has obtained Estonian MTR and US MSB licenses (FinCEN), both from the respective government regulatory bodies.

So, the question of whether US customers are welcome to trade on the MEXC exchange still hangs in the air and we are unable to answer this question right now. My recommendation is to try to create an account and see if your application gets rejected or not.

MEXC Global lacks a proper educational hub where beginner traders can learn the basics of crypto trading and keep up with the crypto community.

MEXC Trading Fees

Products
Maker fee
Taker fee
Cryptocurrency
0.20 %
0.20 %
Futures
0.020 %
0.060 %
ETF
0.20 %
0.20 %

Products

Cryptocurrency
Cryptocurrency
Futures
Futures
ETF
ETF

Trading Platforms

Webtrader
Webtrader
Tradingview
Tradingview
Mobile App Android + Mac
Mobile App Android + Mac

Order Types

MO - Market Order
LO - Limit Order
TL - Trigger Limit
SL - Stop Loss
TP - Take Profit
SL - Stop Limit

Supported Devices

Desktop
Desktop
Smartphone
Smartphone
Tablet
Tablet
Web
Web

Special Features

Leverage Trading
Margin Trading
Demo Account
Paper Trading
Advanced Trading Platform
Advanced Trading Tools
Advanced Charting
Social Trading
Earn Cryptocurrency
Staking
Buy Cryptocurrency
Altcoins
Short Selling
Technical Indicators
Fast Withdrawals
Instant Deposits
2FA Verification
Robot Trading
Automated Trading
Algorithmic Trading
Trading Bot
Profit Calculator
One Click Trading
Trading Strategies
New Trading Platform
Real Stop Loss
KYC
High Limits
OTC Market
Institutional Trading
Promotions
Welcome Bonus
Deposit Bonus

What features does MEXC offer?

After spending some time reviewing the exchange I realized that it is packed with a lot of utility that is not just focused on heavy day trading but there are several helpful tools for passive investors. As most reviews will focus on short-term based trading on the exchange I would like to shine some light on other features such as their staking rewards, ETFs, copy trading, and the MEXC launchpad.

The listed features are worth checking out if you are not a hardcore trader and instead want to learn how you can earn rewards by doing other tasks such as voting for a new project or simply getting into mining. These rewards are known as passive income and I’m happy to see that the MEXC team has made the effort to add them to their slew of products.

Quantitative trading

The quantitative trading platform is the automated product on MEXC where you can instruct a bot to do the work for you. The grid bot is capable of buying low and selling high while the crypto market is oscilating in a trading range. This is a very effective strategy for beginners to earn a passive income without actually trading themselves.

P2P trading

The peer-to-peer platform on MEXC is a marketplace where traders can exchange coins between each other without going through the actual exchange. Here you can find good offers of large and small sizes and you can also find more exclusive payment methods such as ADVCash, Perfect Money, and AirTM.

Demo trades

If you are reading this review and you are thinking of testing out the MEXC platform then the demo trading will be a great way to start. Through the simulated market you can test out the platform as much as you want and trade live prices and experience how it would feel like to trade the real markets. All trading in the simulated markets will of course be completely risk-free.

Earn & staking rewards

MEXC offers two types of staking rewards, flexible and locked. The difference between the two is that in the flexible pool you are free to withdraw your coins at any time but you will earn a lower reward. This type of staking is suitable for investors who don’t know for how long they can keep their assets locked up.

Through the locked staking you will earn higher rewards due to the longer holding times. This is great for investors who have assets that they know they won’t need for a long time and can enjoy higher rewards by locking up their coins for a longer period of time.

Leveraged and index ETFs

ETF is short for Exchange Traded Fund and is an electronically traded fund that is based on an underlying asset. In the case of MEXC, you can choose ETFs based on most of the major crytpocurrencies. Through leverage you can also multiply your holdings by increasing the buying power up to 5 times. The ETF market also offers short contracts that will increase in value when the cryptocurrency is falling in price. This is great way to collect profits from a negative market.

Promotions

When you join the platform you will instantly be greeted by a generous deposit bonus as well as a volume-based promotion. Overall, you can earn up to $1000 for free by making difference kinds of deposits and reaching a monthly trading volume of $1000, $200.000, and $2,000,000.

Mining rewards

As if the above mentioned features were not enough, MEXC Global has incorporated a mining pool called Trade Mining. By joining one of the pools listed on this page you can a collective reward together with the other members of the pool. These rewards can reach values of up to $17,000 and they only require your computing power.

Our own experience with MEXC

MEXC home page
MEXC home page
MEXC futures trading
MEXC futures trading
MEXC buy crypto
MEXC buy crypto
MEXC staking
MEXC staking
MEXC copy trading
MEXC copy trading
MEXC etf
MEXC leveraged etf

MEXC Funding Methods

Visa
Visa
Mastercard
Mastercard
Apple Pay
Apple Pay
Google Pay (GPay)
Google Pay (GPay)

Accepted Currencies

USD ($)
EUR (€)
GBP (£)
JPY (¥)
KRW (₩)
VND (₫)
TRY (₺)
HKD (HK$)
IDR (Rp)
CNY (¥)

Limits

Max Withdrawal Limits
No limit
Min Withdrawal Limits
BTC 0.002
Min Deposit Limits
$30

MEXC Withdrawal Fee

Method
Fee
Cryptocurrency
BTC 0.0003

Languages

United Kingdom
English
Turkey
Turkish
Vietnam
Vietnamese
Indonesia
Indonesian (Bahasa Indonesia)
Portugal
Portuguese
Spain
Spanish
Italy
Italian
Japan
Japanese
Korea, Republic of
Korean
China
Mandarin (Chinese)

Restricted Countries

Korea, Democratic People"s Republic of
Cuba
Sudan
Syrian Arab Republic
Iran, Islamic Republic of
Yemen
Zimbabwe
Myanmar
Lebanon
Libya
Bolivia
Ecuador
Bangladesh
Somalia
Iraq
Democratic Republic of the Congo
Central African Republic
Kyrgyzstan
Burundi
Afghanistan
Republic of North Macedonia
Ethiopia
Guinea
Guinea-Bissau
Liberia
Trinidad and Tobago
Venezuela, Bolivarian Republic of
Serbia
China
Singapore
Italy
Canada
United States
United States Minor Outlying Islands

Security

Is MEXC Global regulated?

At this moment we don’t know if MEXC is regulated by any government. We have researched various outlets online saying different things but we cannot confirm that the exchange is currently licensed nor regulated by a government body.

Is MEXC a trustworthy and legitimate exchange?

So far, from what we can read online about MEXC Global there have not been any complaints about the exchange. Moreover, the team behind the platform seems to be a legitimate company and the operation is in a good financial state.

Does MEXC require KYC?

Yes, in order to buy cryptocurrencies through a fiat payment provider on MEXC you will be asked to send in your KYC documents. However, if you already own crypto you can send them to your wallet address on the exchange and start trading without passing the KYC check.

Support

Live Chat
Live Chat

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Frequently asked questions

Read the most frequently asked questions about MEXC Global. Find answers without searching the web.

The operating company of the exchange has its main headquarters at Sertus Chambers, Second Floor, The Quadrant, Manglier Street, Victoria Mahé, Seychelles.

MEXC is a derivatives cryptocurrency exchange that offers hot crypto wallets for all users.

The exchange is owned by MEXC Global Ltd.

According to the exchange itself, the reported number of users is slightly less than 7 million. The amount of traded volume in the last 24 hours according to CoinMarketCap is $1,788,515,014.92. It is currently ranked number 14 on CMC which is considered a large crypto exchange.

To withdraw your assets from the platform hover over to the Wallet section in the top right corner of the home page and click Overview. From here, select the coin you wish to withdraw and click Withdraw. Lastly, follow the instructions and insert your new wallet address where you want to receive your funds.

You can deposit funds to the MEXC platform in two ways. First, you can make a cryptocurrency deposit to your wallet on the exchange by navigating to the Wallet Overview in the top right corner. Here you select the coin you want to deposit and click Deposit. Follow the instructions and copy the wallet address that will be used as a recipient address. The second option is to deposit fiat money and buy cryptocurrency directly through any of the fiat payment vendors available. This can be done through the top left corner under the Buy Crypto tab. Here you can choose between credit/debit cards, bank transfers, Google pay, and many other fiat payment methods.

To trade on MEXC you first need to sign up with an account, go through the KYC process, and make your first deposit. From here, select your trading product from the main menu and choose the coin you wish to trade. Now, select the order type and the size of your position and click Buy or Short.

It is currently unclear if MEXC allows US customers on the platform. On their About page, they state that they are regulated and licensed in the United States but when you read the fingerprints in the Terms & Conditions they have listed the USA as a restricted country. My recommendation is to try and create an account to see if you are allowed to trade.

Review Sources

The editorial team of Trading Browser is required to use first-hand sources to collect and share information regarding the businesses we promote. Among these sources, you will find LinkedIn profiles, Trustpilot reviews, Sitejabber ratings, whitepapers, government reports, and other reputable sources. Below is a shared list of the article sources used for this review.

  1. LinkedIn – “MEXC Global
  2. Crunchbase – “MEXC Global Organization
  3. Trustpilot – “MEXC.com