Choosing a cryptocurrency exchange is a complex task, as various platforms claim the best commissions, available tokens, and the highest level of security. MEXC, which has been operating since 2018, demonstrates global growth. In this review, we will examine in detail the security measures, user experience, supported assets, and overall reliability of the exchange to help users decide if it suits their trading needs.
MEXC serves as a leading global cryptocurrency exchange for buying, selling, and trading digital assets. The company was founded by Ryder Jungji and is managed by CEO John Chen, a businessman from Singapore. The company's headquarters are located in Victoria, Seychelles. Through the mexc application, the platform provides a wide range of services, focusing primarily on spot and futures trading, leveraged ETF-backed products, perpetual futures, NFT Index, and portfolio management.
In addition to spot and futures trading, the mexc application offers services such as staking and airdrops for its audience of over 40 million users worldwide. A reliable trading engine, developed by banking specialists, processes 1.4 million transactions every second, ensuring high operational speed. Thanks to low trading fees and multilingual support, the mexc application meets the needs of experienced traders.
User security is ensured by a multi-layered architecture with multiple clusters. If users aim to diversify their portfolio through spot and futures trading, MEXC offers earning and staking services, as well as a platform for launching new projects and demo trading for beginners. Users can join the active community of mexc traders through the app or access spot and futures markets via the web interface. Furthermore, developers can use the MEXC API for direct data integration into their applications.
MEXC has obtained several licenses, including an MSB license in the US, an AUSTRAC license in Australia, and an MTR license in Estonia. These permits allow users to download the mexc application and use exchange, wallet, and money transfer services globally. However, in 2023, MEXC faced regulatory issues, including warnings from BCSC, FMA, and BaFin, as well as the revocation of its Estonian license in November 2023.
Spot trading on MEXC Global allows users to trade the most diverse set of cryptocurrency pairs, including major assets like BTC/USDT and ETH/USDT, as well as a number of altcoins. Unlike derivatives and futures, in spot trading, the user immediately owns the assets. MEXC is considered one of the largest altcoin exchanges in the world, offering over 3000 coins. This places the exchange significantly above many competitors, benefiting new, active, and professional traders looking to go beyond Bitcoin and Ethereum.
MEXC provides a professional spot trading panel displaying a real-time order book and advanced charting tools based on TradingView for technical analysis. To ensure user security, the exchange maintains full platform reserves, known as reserve assets. Legitimate users who comply with the user agreement can trade confidently, and customer support is available to provide assistance. The exchange also offers several types of orders, as well as a range of technical indicators such as K-lines, moving averages, and MACD, which aid in making buy or sell decisions.
MEXC also provides a futures trading tool, making derivatives trading simple on a convenient platform. Users can agree to buy or sell crypto assets at a predetermined price in the future. Investors planning to trade futures must transfer funds from the spot account to the derivatives account to ensure transaction stability. MEXC offers over 1200 futures contracts backed by world-class liquidity. With leverage up to 500x, these contracts allow control of a position significantly exceeding the initial investment. Although high leverage can raise serious risk concerns, the platform's market depth contributes to more stable trading.
When trading futures, USDT is used as collateral for USDT-M, while other cryptocurrencies are used for Coin-M futures. To ensure more stable trading, the exchange supports world-class liquidity, creating an environment for stable trading even when offering leverage up to 200x. MEXC perpetual futures have various order types and two margin modes for futures trading.
The MEXC Futures M-Day event is a promotional event where clients trade USDT-M or Coin-M futures with a chance to win prizes in a draw, mainly futures bonuses that can be used as margin, with the possibility of withdrawing profits. During the Futures M-Day event, spot traders can trade crypto futures, attracting both experienced and novice traders due to the accessible and convenient environment.
With the peer-to-peer (P2P) trading function, users can easily buy and sell cryptocurrencies such as USDT, USDC, BTC, and ETH directly with each other using fiat currencies. Currently, the platform supports three fiat currencies: Vietnamese Dong (VND), Russian Ruble (RUB), and South Korean Won (KRW). Users can become advertisers by creating their own listings to buy or sell, setting their fiat prices, and choosing payment methods. Or they can act as buyers, selecting an existing listing to complete a transaction.
MEXC uses an escrow system as an additional layer of security. When a trade begins, the platform holds the cryptocurrency being sold in escrow until payment confirmation, ensuring that both the buyer and seller fulfill their obligations. The demo trading function allows simulating the futures market, giving traders the opportunity to learn from real transactions. For demo trading, MEXC provides 50,000 USDT. It is important to remember that all actions on the simulation platform are intended only for practice, and there will be no real financial losses or gains.
The MEXC Copy Trading feature allows users to easily follow experienced traders in futures trading. This is a very simple tool for beginners. Users note the fast synchronization of trades, which is critical in volatile markets. The essence is that followers can benefit from the experience and strategies of leading traders without needing to analyze the markets or manage every position themselves. This is enhanced by low commissions, often zero for spot trades with order creation, which preserves capital.
To become a follower, one only needs to select a leading trader and review their past performance, such as ROI, win rate, and PNL. After that, it is necessary to ensure that there are funds in the spot account to be used as margin. Even with zero-commission promotions, standard low fees make MEXC a competitive choice. A minimum deposit is required to start copy trading, for example, around 30 USDT for certain modes. Leading traders receive a share of the followers' profits, which is pre-determined, and followers pay this share only upon realizing a profit.
This feature simplifies cryptocurrency purchasing using user-friendly payment methods, including SEPA, credit and debit cards, as well as third-party payment services such as MoonPay, Mercuryo, Simplex, and others. MEXC is not responsible for these transactions, acting only as an intermediary between users and third-party payment providers.
The MEXC Card is a virtual prepaid Mastercard created for MEXC exchange users. It is available in a number of countries, including Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and Switzerland. To apply, KYC must be completed at least 14 days prior to application and at least one previous purchase must be made using a bank card or SEPA on MEXC.
The term 'Staking & Earn' on MEXC refers to features that allow users to earn rewards or interest on their crypto assets instead of just holding them. MEXC Savings is a product that allows users to earn passive income on assets held on the exchange. Here, users earn income simply by staking cryptocurrency. Income is denoted by the Annual Percentage Rate (APR) that the user can receive by staking or locking their cryptocurrency for a specific period.
Currently, there are two types of MEXC Savings: 'Flexible Savings' and 'Locked Savings'. In 'Flexible Savings', users can trade, transfer, and withdraw funds at any time, similar to a traditional banking system. In 'Locked Savings', assets are locked for a specific period, similar to a fixed deposit, and users cannot trade, transfer, or withdraw them while earning rewards. If MEXC states a '7% yield on USDT in Savings', it means that by locking $1000 in USDT for a year, one can earn about $70 in passive income.
MEXC Loans is a lending solution that allows users to obtain liquidity from their crypto assets without selling them. By using tokens such as TON as collateral, users can borrow assets, such as USDT, for fixed periods of 30, 60, or 90 days. Interest accrues daily, and borrowing limits are determined by the Loan-to-Value (LTV) ratio. If the collateral value decreases and the LTV exceeds the established threshold, MEXC may liquidate the collateral to repay the loan. Borrowers can manage risks by adding collateral to lower the LTV and prevent liquidation.
MEXC Kickstarter is a pre-listing event where users vote for new projects using MX tokens. Participation is free, and tokens are temporarily locked during voting. Rewards are distributed as project airdrop tokens. To participate, one must complete at least one futures trade. This increases the project's visibility and provides early rewards to MX holders.
On the other hand, MEXC Launchpool allows users to stake MX, USDT, or other tokens in designated pools to proportionally receive new project tokens. These time-limited events often offer high APRs and significant reward pools, such as APT. While tokens are staked, participants gain early access to new tokens without having to purchase them directly. Both events, Kickstarter and Launchpool, provide early access to new tokens but use different mechanisms: Kickstarter uses MX token voting, while Launchpool uses staking and KYC verification.