MEXC Global Exchange Review 2023: Features, Trading Options, Fees, and More

Introduction

MEXC Global, an established cryptocurrency exchange platform founded in 2018, has gained significant traction among traders. Its user-friendly mobile and desktop applications offer a diverse selection of cryptocurrencies, along with advanced trading options and features tailored to accommodate traders of all skill levels.

This review of MEXC Global for 2023 aims to provide a detailed analysis of the platform, covering its key features, services, fees, and security measures. By presenting a list of pros and cons, this article aims to offer an unbiased assessment of the exchange.

MEXC Global Overview

As a centralized cryptocurrency exchange operating since 2018, MEXC Global has experienced exponential growth, serving over 10 million users from more than 170 countries. With an impressive selection of over 2,050 cryptocurrencies and 1,650 trading pairs, MEXC Global has established itself as a go-to platform for traders.

One of the notable advantages of MEXC Global is its competitive trading fees. It offers a 0% spot trading fee and a futures trading fee of 0% for makers and 0.01% for takers. Moreover, investors holding the MX token can enjoy a 10% discount on fees, further enhancing their trading experience.

MEXC Global provides a user-friendly interface that caters to both novice and experienced traders. Additionally, the platform prioritizes the security of user funds, employing features such as two-factor authentication and cold wallet storage.

Acknowledging its credibility, MEXC Global ranks among CoinMarketCap’s top exchanges by trading volume and boasts a Trust Score rating of 9 by CoinGecko.

MEXC Crypto Exchange Details

History Overview

Founded in April 2018, MEXC Global, formerly known as MXC, has been at the forefront of offering cloud technology services in the digital asset trading industry. In June 2021, the platform underwent an official rebranding to MEXC Global or “MEXC.” This strategic move aimed to strengthen the platform’s global compliance strategy and adaptability to evolving markets.

The exchange operates its native MX token, which actively participates in multiple trading pairs. CoinMarketCap data shows that the token reached an all-time high of $3.7 on December 02, 2021.

Platform Interface

MEXC Global offers a user-friendly interface that caters to both regular investors and sophisticated users. It features a straightforward layout for regular investors and a more advanced trading interface for experienced traders.

The platform’s top menu bar prominently displays a wide range of trading options and available markets. Users can access various trading tools, charts, and order types, providing extensive functionality for their trading activities. Further details about these features will be explored in the following sections.

Key Features and Functions

MEXC Global offers a diverse array of features and functions to its users, including:

• Support for over 2,050 cryptocurrencies and more than 1,650 trading pairs
• Quick crypto purchases with a range of payment methods
• Multiple trading markets, including spot, margin, futures, and leveraged ETFs
• Futures trading with up to 200x leverage
• Staking available for several popular cryptocurrencies
• Apps available for iOS, Android, and Windows users
• Fiat deposits of over 20 currencies, such as USD, EUR, GBP, and more
• No deposit fees and competitive trading fees
• Multiple payment methods for depositing funds
• Staking and earning opportunities for passive income
• Robust security measures, including cold storage wallets, 2FA, and SSL encryption
• Responsive and multilingual customer support

Supported Cryptocurrencies and Trading Pairs

MEXC Global offers an extensive range of cryptocurrencies for trading, including high market-cap blockchains and low market-cap altcoins, with over 2,050 coins and more than 1,650 trading pairs.

Some of the major cryptocurrencies available on the exchange include Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), and many more. Furthermore, MEXC Global regularly adds new digital assets to its platform.

Services

MEXC Global offers a variety of services, from buying and selling cryptocurrencies to an array of trading options. The crypto exchange provides access to spot, margin, and futures trading. It also offers P2P trading, copy trading, demo trading, leveraged ETFs, and index ETFs.

Crypto Purchasing

MEXC Global allows users to buy and sell crypto through different payment options. Users can purchase via debit or credit cards, P2P trading, OTC services, quick buy options such as Apple Pay, Google Pay, and Samsung Pay, global bank transfers such as SWIFT and FedWire, as well as third-party payment providers like Simplex, Banxa, and Mercuryo. Notably, MEXC Global has recently launched the MEXC Mastercard, further expanding the convenience and flexibility of crypto purchases.

Spot trading

MEXC Global offers spot trading where users can place orders at market price or limit price without any leverage. A broad range of cryptocurrencies is available for spot trading, including Bitcoin, Ethereum, Litecoin, and more. Users can also trade using various fiat currencies such as USD and EUR.

Margin trading

MEXC Global offers margin trading that enables traders to enter larger positions in the market with a smaller investment. Users can leverage 5x to 10x; however, this feature is not available for all cryptocurrencies on the platform.

Futures trading

MEXC Global offers futures trading for a range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Users can trade with leverage as high as 200x and choose between perpetual and fixed-term contracts.

Leveraged ETFs

MEXC Global offers leveraged exchange-traded funds (ETFs) that allow traders to take advantage of market volatility by using leverage to magnify their trading profits. Users can choose from a range of digital currencies with 3x and 5x leverage ratios both on short and long positions.

Index ETFs

MEXC Global offers index ETFs to allow investors to diversify their portfolios by investing in multiple assets. This includes the Grayscale Index, Major Crypto Index, and DSA Index, among others.

Copy and Demo Trading

MEXC Global offers copy trading, where users can copy the trades of professional traders, and demo trading, where users can practice trading without risking real money.

Peer-to-Peer Trading

MEXC Global offers a peer-to-peer (P2P) trading feature, allowing users to trade directly with one another without any interference from a central authority.

Other Services

MEXC Global Exchange also provides a range of other services, including the MEXC launchpad, M-Day airdrops, MX-DeFi, and staking options for cryptocurrencies like Bitcoin, Ethereum, and Polkadot. These services offer users opportunities to participate in token sales, receive airdrops, engage in DeFi activities, and earn passive income through staking.

Fees and Payment Methods

MEXC Global has one of the lowest fees for trading on its platform. It offers a variety of deposit options, with over 20 fiat currencies like USD, EUR, GBP, TRY, and others.

Deposit Fees
MEXC Global does not charge any deposit fee for cryptocurrencies. Moreover, there is no limit on crypto deposits; however, fiat deposits are capped at 100,000 USD.

Trading Fees

Trading fees for spot trading are 0% both for makers and takers, while futures trading fees are 0.0% for makers and 0.01% for takers. Moreover, users who hold the platform’s native MX token can enjoy a 10% discount on futures trading fees.

Fiat Withdrawal Fees

MEXC Global does not support direct fiat withdrawals. Nonetheless, users can convert their crypto to fiat using the platform’s P2P market or another exchange.

Crypto Withdrawal Fees

MEXC Global charges withdrawal fees that vary depending on the cryptocurrency being withdrawn. Some coins are free to withdraw, while others have a specified amount. Also, minimum withdrawal limits vary by asset.

For example, the minimum withdrawal limit for Bitcoin is set at 0.001 BTC, and the associated withdrawal fee is 0.0003 BTC. Find the list of deposit and withdrawal fee rates on the MEXC Global website.

Payment Methods

MEXC Global supports a variety of payment methods for depositing funds, including credit or debit cards, OTC service, bank wire transfers such as SWIFT, ACH, Wire and PIX, P2P market, quick buy options such as Apple Pay, Google Pay, and Samsung Pay, and third-party payments such as MoonPay, Simplex, and Banxa.

MEXC also recently announced the launch of the MEXC Mastercard, allowing users to use their digital assets to make payments.

Volume and Liquidity

MEXC Global stands at the forefront of the largest exchanges, primarily driven by its high daily trading volume. According to CoinMarketCap (CMC), MEXC is ranked in 13th place on spot trading volume, with over $450 million in the past 24 hours and an average liquidity of 443. Of this, Bitcoin/USDT constitutes a majority of about 40% of all liquidity.

The exchange has a value of $974,233,602.898 in total assets. Out of the total value, 45.27% is in USDT, 22.91% is in MX, 5.8% is in BTC, 2.64% is in ETH, and 1.87% is in FON. The remaining 21.51% of the total value is in other assets.

Security

MEXC Global employs several advanced security measures, such as cold storage wallets, multi-signature and offline signature technologies, and  SSL encryption, to ensure the safe storage of digital assets. Other than two-factor authentication (2FA), email and SMS verification, and security questions, users are also encouraged to complete KYC for added security.

KYC Process

It’s important to note that while MEXC Global does not require a Know Your Customer (KYC) process for basic account functionality, completing the KYC process is recommended to access all features and increase withdrawal limits.

In particular, the platform requires users to complete the KYC verification process before they can withdraw their funds. This complies with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This process is split into Primary and Advanced KYC. While Primary KYC would automatically increase a user’s withdrawal limit to 80 BTC daily, Advanced KYC would increase the withdrawal limit to 200 BTC per day.

Mobile Application

MEXC Global’s mobile application is available on Android, iOS, and Windows devices. The mobile app mirrors the functionality of the web-based platform, allowing users to trade on the go without compromising on features or user experience. Mobile users can also use in-app support to reach out to customer service for guidance.

Customer Support

MEXC Global has a responsive customer service team that is available 24/7. Users can access the platform’s Help Center for answers to FAQ or contact Customer Support Team through live chat, email, or by submitting a support ticket. In addition, the platform supports multiple languages, such as English, Chinese, Japanese, Korean, Vietnamese, and many more.

Pros and Cons

Here are some of the pros and cons of using MEXC Global:

Final Score

Summary

MEXC Global is a centralized cryptocurrency exchange that has gained popularity since its establishment in 2018. With over 10 million users across more than 170 countries, it is a feature-rich cryptocurrency exchange that caters to the needs of a wide range of traders.

MEXC Global stands out for its extensive selection of over 2,050 cryptocurrencies and 1,650 trading pairs, as well as its low trading fees. The exchange provides a user-friendly interface, robust security measures, and supports multiple payment methods.

However, the lack of direct fiat withdrawals may be a drawback for some users. As always, it’s important to conduct thorough research and consider all factors before making a decision on which exchange to use for cryptocurrency trading needs. MEXC Global is a solid choice for those looking to trade cryptocurrencies, but users should always explore multiple options and read reviews to make an informed decision.

FAQs