MEXC is hard to recommend for most traders: mandatory KYC ended its appeal for privacy-conscious users, US residents cannot use it at all, and its aggressive listing policy floods the catalogue with genuinely illiquid tokens that carry real execution risk.
Founded in 2018 and headquartered in Singapore, MEXC has built its reputation on listing speed. If a token is trending, it usually appears here before it appears on the venues that market themselves on caution.
That strategy cuts both ways, and this review covers both edges: what the fee schedule and asset count actually give you, and what changed when MEXC stopped being a no-KYC exchange.
MEXC Pros & Cons
The short version, before the detail.
Futures maker fee of 0% and taker of 0.02% — among the lowest published anywhere.
1,320 spot assets and 614 futures contracts, so thin-liquidity altcoins are tradeable here that simply are not listed elsewhere.
Leverage to 200x for traders who want it.
Never suffered a publicly confirmed breach, and publishes proof of reserves.
Against that:
KYC is required for all accounts — the no-KYC era is over, whatever older reviews still say.
Not available to US residents.
European futures traders pay a region-adjusted schedule rather than the headline rate.
Aggressive listing policy means a share of the catalogue is genuinely illiquid.
What we like
Large selection of altcoins for spot trading
Low futures trading fees
Up to 200x leverage for futures
Very deep liquidity
High daily withdrawal limits
What holds it back
Regulatory uncertainty
Many reported cases of withholding customer funds
Untrasnparent fee structure due to frequent changes and regional adjustments
Poor reputation in the crypto industry
MEXC Sign-up & KYC
Registration takes an email or a phone number, a password, and a six-digit confirmation code. That part is unchanged and takes about a minute.
Does MEXC require KYC?
Yes, KYC is mandatory for all MEXC users. Once you sign up, you will receive a notification asking you to complete the verification process before you can continue using MEXC services. Without completing KYC, you may still be able to view market data and announcements, but deposits, withdrawals, trading, P2P, fiat deposits, and other account services will remain restricted.
MEXC made verification a requirement for all users in its February 2026 announcement, so older accounts are not exempt.
MEXC has two verification levels for individuals. Both allow unlimited crypto deposits and spot and futures trading:
Primary KYC: an ID card, passport, driver’s licence or residence permit, with clear photos of the document. Withdrawals of up to 80 BTC a day, and fiat only through P2P.
Advanced KYC: adds a face scan. Withdrawals of up to 200 BTC a day and fiat trading of up to 20,000 USD a day.
You can skip Primary KYC and go straight to Advanced. One person can verify at most two MEXC accounts, and each level allows three attempts a day before a 24-hour wait.
KYC level
KYC 0
KYC 1
KYC 2
24-hour withdrawal limit
$0
80 BTC
200 BTC
How Long Does MEXC ID Verification Take?
MEXC says most reviews take about 15 minutes, but some take 8 to 24 hours; both levels are normally reviewed within 24 hours. If your verification is not approved straight away, it does not necessarily mean something went wrong.
Verification usually fails because of a blurry or unreadable document, an expired ID, a screenshot or copy instead of the original, Primary and Advanced details that don’t match, or a face scan taken in poor lighting.
MEXC Products and Services
Demo Trading
MEXC Futures Demo Trading provides simulated funds for practicing futures orders, leverage, TP/SL and position management. The Claim Demo Crypto panel shows the assets and amounts currently available to your demo account. These funds and any simulated gains are not withdrawable; use the demo market selector rather than assuming all live contracts are included. Official demo details.
How to demo trade on MEXC
Log in and open Demo Trading. Choose Futures > Demo Trading on the website. In the app, open Futures and select Demo Trading from the three-dot menu.
Claim virtual funds. Select Claim Demo Crypto beside Available in the order panel and confirm the permitted claim.
Set up a demo order. Choose a supported pair, margin and leverage settings, order type and quantity. Enter a price for a limit order.
Place the practice trade. Review the details, then select Open Long or Open Short.
Manage and close. Use Open Positions to inspect the simulated trade and close the required amount. Cancel outstanding orders separately; consult the claim panel if you need more demo funds.
MEXC Supported Cryptocurrencies
MEXC lists 1,320 spot assets across 1,717 trading pairs, plus 614 futures contracts. Reported spot volume over the last 24 hours is $574,916,775.
The number is the product of a deliberate strategy: MEXC lists early and lists broadly. For anyone trading newer tokens, that is the entire reason to have an account here — the alternative is often a decentralised exchange and worse execution.
Treat the breadth with some judgement. A listing is not an endorsement, and the tail of that catalogue is thin. Check the order book on any small-cap before sizing a position.
MEXC lists 1,320 spot assets and 614 futures markets. Its native token is MX.
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MEXC Trading Platform
Spot and futures share one interface, with leverage available to 200x. The charting is TradingView-based and the order form covers the usual limit, market, stop-limit and trailing types.
Beyond plain trading, MEXC runs copy trading, grid bots, an Earn product for idle balances, P2P, Launchpad and Launchpool for new listings, and a DEX+ section that routes to on-chain liquidity from inside the same account.
The volume of products is a lot to take in at first. If you are new here, the spot and futures tabs are the platform; everything else is optional.
Maximum leverage is 200×.
MEXC Trading Fees
Spot trading costs 0% for makers and 0.05% for takers — flat, with no volume tier needed to reach it.
Futures is where MEXC separates itself. The maker fee is 0% and the taker fee 0.02%. A maker rate of zero is unusual at this size, and for a strategy that rests on the book rather than crossing it, the difference against a venue charging two or three basis points compounds quickly.
MX fee deduction is separate from a referral discount. Paying eligible fees in MX can reduce them by 20% when the feature is enabled and the relevant account has enough MX. MEXC suspended the old holding-based 50% discount in February 2026; see the MX token section below for the current conditions and sources.
Withdrawal fees are per-asset and per-network rather than a single published rate. Sending USDT over TRC20 or BEP20 is about a dollar; Bitcoin and Ethereum withdrawals cost meaningfully more. Check the figure in the withdrawal screen before confirming, because the network you pick matters more than the asset.
Trading type
Maker fee
Taker fee
CEX median (64 tracked)
Verdict
Spot
0%
0.05%
0.1% / 0.1%
Cheaper
Futures
0%
0.02%
0.02% / 0.06%
Cheaper
The median across the 64 centralized exchanges (CEX) we track, per fee type. MEXC is only ever compared with its own kind. "Average" means within half a basis point of that median.
MEXC Token (MX)
MX is MEXC’s Ethereum-based ERC-20 platform token. Its main uses are paying eligible trading fees and participating in selected exchange reward programs. Holding MX can make sense for someone who already uses those benefits, but owning it alone does not guarantee income or a permanent discount.
Token details checked September 9, 2026 against MEXC’s official documentation.
Trading fee deduction: MEXC’s February 2026 fee update suspended the old 50% discount for holding at least 500 MX, effective February 9. The separate 20% discount for paying eligible fees in MX remains available. For spot trading, enable MX deduction and keep enough MX to cover the fee. MEXC’s deduction guide also covers USDT-M futures: MX must be in the futures account, and the benefit stops when that balance runs out. Check the fee page for your account and pair; zero-fee promotions, regional rates and futures bonuses can affect what applies.
Kickstarter airdrops: MEXC’s current Kickstarter FAQ requires at least one completed futures trade and a minimum of 5 MX held for 24 consecutive hours before the event’s eligibility cutoff. Spot-wallet snapshots determine the eligible balance. Users must commit MX during the event; those tokens calculate the allocation and are not frozen. Rewards depend on the pool, other participants and the account’s qualifying coefficient. These are program conditions, not a reason to take a leveraged trade just to obtain an airdrop.
Launchpool and other rewards: selected Launchpool events accept MX deposits in return for project-token rewards. The Launchpool FAQ requires KYC and excludes restricted jurisdictions and ineligible account types. It allows redemption at any time, while each pool sets its own limits and reward schedule. For example, the May-June 2026 NEX campaign included an MX pool; that dated event is not an ongoing offer. Check the current campaign before depositing. A displayed annualized yield is an estimate, and rewards paid in another token can lose value.
How to buy and use MX
MEXC lists an MX/USDT spot market. After checking account eligibility and funding the account, open that spot pair, choose a market or limit order, enter the amount and review the estimated cost and fee before confirming. A filled spot order credits MX to your spot balance. An MX futures position gives price exposure; it does not supply the spot tokens needed for holding-based programs.
Next, enable fee deduction or join the specific reward event you want to use. Buying MX elsewhere or keeping it in a personal wallet does not automatically qualify that balance for MEXC account benefits. Check liquidity and withdrawal availability on any other venue, and confirm the token contract and supported network before transferring. MEXC’s MX information page identifies the token and its Ethereum network.
MX supply and the updated burn policy
MEXC’s January 15, 2026 burn report records 2,182,000 MX burned in Q4 2025 and a resulting 91,837,334 MX circulating supply. Those are dated reported figures, not a live supply feed. The 100-million figure in the framework is a circulating-supply ceiling, not the actual circulating amount or total token supply.
The revised tokenomics framework says the initial deflation target has been met. It replaces the assumption of a fixed quarterly burn schedule with market-responsive burns intended to keep circulating supply within 100 million MX, suspends team-token releases, and redirects more resources toward ecosystem development. Older descriptions of a permanent 40%-of-profits quarterly buyback rule therefore do not describe the current framework.
MX remains exposed to token-price volatility, exchange custody risk and changes to MEXC’s programs. Burns do not guarantee a higher price. Compare the benefits you can actually use with the cost and risk of holding the token, rather than treating rewards or supply reductions as a guaranteed return.
MX Token
Connecting
MX ·USDT spot market
$1.90+0.31% 24h
Market cap
$174.11M
Rank #206
24h trading volume
$4.81M
Across tracked markets
Circulating supply
91.84M MX
22.5% of total supply
MX / USDT$1.90Latest observation
Hourly observations · UTC
7D low$1.86
7D high$1.96
7D change1.64%
Explore MEXCChoose from 1,320 cryptocurrencies on MEXC.
MEXC has never had a publicly confirmed breach, which after 2018 is a meaningful record in an industry where most large venues have lost something at some point.
The account-level controls are the ones you would expect: two-factor authentication, email and SMS verification, an anti-phishing code, and withdrawal address management. Cold storage covers the majority of holdings and the exchange publishes proof of reserves, so balances are attested rather than asserted.
On the regulatory side, be clear-eyed. MEXC is not licensed the way a domestic broker is, and US residents are not served at all. The verification requirement is the compliance direction of travel, not the end of it.
No security incident on record We track exchange hacks in our database, nothing is on file for MEXC. A clean record can change at any time; past security performance never guarantees future safety.
Risk warning Even a high rating doesn’t remove market or custody risk. Cryptoassets are volatile and largely unregulated, and deposit protection schemes don’t apply.
MEXC Customer Support
Support runs 24/7 through live chat, email and a help centre. Live chat is the fastest route and generally reaches a person quickly.
As with any large exchange, the quality gap is between routine questions and account-specific ones. Password and verification issues resolve fast. Anything involving a stuck deposit or a wrong-network transfer takes longer and may not end the way you want.
MEXC Deposit Methods
Crypto deposits are free and land as soon as the network confirms. Pick the network carefully — sending to the right address on the wrong chain is the most common way people lose funds here, and it is not recoverable by support.
Fiat funding runs through third-party payment providers and P2P rather than direct bank rails, so the fee and the limit depend on which provider serves your country rather than on MEXC itself.
After you created your account, you can start receiving cryptos on your MEXC account. First, head to the wallet overview section in the top right corner.
Here you can see all of your assets across all of your MEXC accounts like Spot, Futures, Fiat, and Margin accounts. For deposits, we need the Spot account. Now click on “Deposit”.
Now we select the coin that we want to deposit into our MEXC account. In this case, I will send USDT from a separate wallet into my MEXC account. In order to send USDT, I will have to select a network and generate a deposit address for it. I usually send USDT via the Tron Network, in short TRC20, because it is fast and cheap. Other popular USDT networks are the Binance smart-chain (BEP20) and the Ethereum chain ERC20. In this case, I selected USDT via the TRC20 network. Now click on “Click to generate address” to receive your unique USDT TRC20 address.
Send the cryptos from your wallet to MEXC. Make sure to add the right network and address. In case of providing an invalid deposit address or the wrong network, your funds can be lost.
After a few minutes, your USDT should arrive in your MEXC spot account.
MEXC Buy Crypto step-by-step guide
Buying cryptos directly from MEXC
Go from the home page to the top left corner and select the “Buy Crypto” dropdown and click on your preferred payment method. MEXC offers Credit/debit card, Global Bank Transfer, Quick Buy/Sell, and P2P Trading.
Lastly, select your currency and the amount you want to spend and add your Card by clicking on “Add Card”. MEXC supports VISA and master cards for USDT purchases.
MEXC Withdrawal Methods
Most withdrawals at MEXC are in crypto, priced per asset and per network. An advanced KYC verified account can withdraw up to 200 BTC worth of cryptocurrencies per day.
To cash out your profits from MEXC you can use Bank transfers and PIX transfers (for Brazilians). Furthermore, P2P trading is available at MEXC for hundreds of additional withdrawal methods.
MEXC is the right account for two specific jobs: trading altcoins that other venues have not listed, and running futures where a 0% maker fee materially changes the arithmetic.
It is the wrong account if you need a regulated domestic venue, a clean fiat on- and off-ramp, or the no-KYC access it used to be known for. That last point is the one most reviews still get wrong, so it is worth repeating: verification is required for all users now.
Judged on what it actually is — a high-volume, wide-catalogue trading venue with unusually cheap derivatives — it holds up well.
No, the US appears on MEXC's restricted-country list.
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