MEXC Exchange Review

With more than 2500 listed coins, MEXC has the widest coin selection of any exchange in the world, and it's usually first to list meme coins and new projects. Its fees are among the lowest on the market too: 0% spot maker fees!

MEXC has made identity verification (KYC) mandatory and does not accept Iranian documents, so despite its unmatched coin selection, in practice it can't be used by Iranian traders. If your strategy is hunting fresh projects and meme coins, XT.com, with more than 900 coins and no mandatory identity verification, is the practical alternative.

MEXC was founded in 2018 and took a distinctive approach: list everything, faster than anyone else and with the lowest fees. The result? More than 2500 coins, the widest selection of any exchange in the world and the go-to destination for meme-coin hunters.

With more than 30 million users worldwide, strong security, a wide range of digital assets and its own distinctive interface, MEXC offers a safe and simple environment for buying, selling and trading crypto. With robust support for spot, margin and futures trading, the exchange lets users work with a wide variety of strategies. Advanced market-analysis tools, attractive rewards and lending round out its feature set.

MEXC exchange review

MEXC is a cryptocurrency trading platform founded in 2018 that quickly became popular with users worldwide thanks to its simple interface, wide selection of assets and competitive fees. According to data from CoinMarketCap, MEXC usually ranks among the world's top 20 crypto exchanges and is currently one of the top 10 by daily trading volume, with more than $1.5 billion traded each day.

The exchange supports more than 3,000 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL) and a long list of altcoins and trending tokens such as meme coins, DeFi tokens and layer-2 projects. This unmatched variety gives users fast access to new and popular tokens. Under the slogan "Your Easiest Way to Crypto", MEXC offers spot, futures, staking, launchpad and copy-trading services suited to beginners and professionals alike.

History of MEXC

MEXC was founded in 2018 by a team of finance, technology and blockchain specialists, and its headquarters are in Seychelles. The founders' main goal was to build a platform that combined security, speed and simplicity, so that both beginner and professional traders could use it with ease.

From the start, the exchange focused on advanced order-matching technology (capable of processing 1.4 million transactions per second) and became one of the fastest trading platforms around. In 2019 MEXC grew dramatically, capturing 5% of the global crypto trading market, and in 2021 it was named Best Crypto Exchange in Asia at Crypto Expo Dubai.

Today, with more than 40 million users in 170+ countries, MEXC is one of the crypto industry's leaders. Through a $300 million ecosystem development fund and the IgniteX program (a $30 million budget to support Web3 talent), the exchange is helping the blockchain industry grow. MEXC has also promoted blockchain adoption worldwide by hosting community events such as Bitcoin Pizza Day and running educational programs. The MEXC team has more than 2,000 employees in 40+ countries, working across engineering, compliance, marketing and operations.

MXC or MEXC?

The platform was originally called MXC Exchange and was officially renamed MEXC Global in 2021. The rebrand was aimed at strengthening the brand and expanding its international services. Today, all of the exchange's services and its official domain operate under the name MEXC.com.

Despite this change, some sources and users still use the name MXC, but both refer to the same exchange.
The MEXC platform has kept the same technical infrastructure, management team and native MX token.

MEXC for Iranian users

To decide whether MEXC is suitable for Iranian users, we need to look at issues such as the exchange's identity verification process and the use of IP-changing software:

Identity verification for Iranians on MEXC

Because of legal restrictions, MEXC does not allow Iranian users to complete identity verification (KYC), and Iran is on the platform's list of sanctioned countries.

Using IP-changing tools on MEXC

Iranian users can sign up on the exchange using IP-changing tools (a VPN or VPS) with a static, non-Iranian IP and use its services without identity verification. This works very well for Iranians, because MEXC does not make KYC mandatory for trading, and users can get started with a simple sign-up (just an email address or phone number).

Important: Iranian users should be very careful never to reveal their identity details or an Iranian IP address, because if they are identified, their account may be blocked. For extra security, we recommend using a VPN with a static IP so that your IP doesn't keep changing. It's also best to keep your assets in personal wallets and avoid holding them on the exchange for long periods.

Is MEXC trustworthy?

Thanks to its strong track record and transparent operations, MEXC is considered one of the most reputable crypto exchanges in the world. Since its founding in 2018, with headquarters in Seychelles, it has earned the trust of more than 40 million users.

MEXC's listing on the respected CoinMarketCap site and its place among the world's top 10 exchanges show how credible the platform is. To earn users' trust, MEXC publishes Proof of Reserves reports every two months, showing a reserve ratio above 100% for all major cryptocurrencies. According to CoinMarketCap, MEXC holds more than $1.1 billion in crypto assets, a sign of the exchange's financial strength and deep liquidity.

After the collapse of FTX in 2022, MEXC won even more trust from users by publishing a list of its assets on CoinMarketCap. SimilarWeb also reports that MEXC's website draws an average of 10 million visitors a month, which for an international exchange is a clear sign of popularity and public trust.

The exchange also maintains an insurance fund worth more than $526 million to cover potential user losses during liquidations. Taken together, all of this makes MEXC a safe and reputable choice for traders.

Security on MEXC

Security is one of users' biggest concerns when choosing a crypto exchange, and MEXC provides a secure trading environment through advanced technology and high security standards. According to MEXC's official website, the exchange relies on several layers of security systems:

Cold storage

More than 98% of user assets are kept in offline wallets, which protects them from hackers.

Two-factor authentication (2FA)

Users can add Google Authenticator or SMS verification to make their accounts more secure.

Anti-phishing system

MEXC provides anti-phishing codes so users can recognize fake emails.

Advanced encryption

All user data is protected with SSL and AES-256 encryption protocols.

Insurance fund

MEXC has an insurance fund worth more than $526 million to cover potential user losses in unexpected situations such as liquidations or cyberattacks.

24/7 monitoring

MEXC's security team monitors suspicious activity around the clock and uses AI technology to detect threats.

MEXC also publishes Proof of Reserves transparency reports every two months, showing a 1:1 ratio of user assets to the exchange's reserves. To date, the exchange has not reported any significant hack or security breach, and it has received several security certifications, including ISO/IEC 27001 and CCSS (the CryptoCurrency Security Standard).

MEXC support

Fast, high-quality support is one of MEXC's strengths and has done a lot to build users' trust. The platform offers 24/7 support and responds to users all over the world. MEXC supports its users through the following channels:

• Live chat: This service is available around the clock and usually replies within 5 to 10 minutes. The answers are of good quality and written in a professional tone that both beginners and experienced users can easily follow.
• Tickets: Users can raise their issues through the ticket system. Tickets are answered within 12 hours at most, which makes this channel a good fit for more complex issues.
• Knowledge base and tutorials: MEXC has a comprehensive education section on its website, with videos, articles and step-by-step guides, which you can access at learn.mocortech.com.

MEXC support is available in several languages, including English, Chinese, Japanese and Korean, but unfortunately there is no direct support in Persian. Even so, the simple interface and the support team's clear answers mean Iranian users can also resolve their issues easily. This level of responsiveness makes MEXC a good choice for users who place a high value on fast, reliable support.

MEXC features

With a diverse set of features, MEXC serves the needs of both beginner and professional users well. Below, we look at the platform's most important services:

Spot trading

Spot trading on MEXC lets users buy and sell cryptocurrencies at the current market price. This type of trading suits people who want to buy or sell digital assets simply, without any complexity.

MEXC offers more than 3,000 spot trading pairs, including new projects. The spot trading interface is designed to be very simple, and with tools such as advanced charts and market, limit and stop-limit orders, it works for traders of every level.

Futures trading

Futures trading on MEXC lets users take positions on the future price direction of cryptocurrencies. This type of trading suits professional traders who want to use leverage of up to 200x. MEXC offers two types of futures contracts: perpetual futures (with no expiry date) and quarterly futures (with an expiry date). Users can put their strategies into practice with the platform's technical analysis and risk-management tools.

Demo account

MEXC has a demo account that lets users test their trading strategies with no financial risk. It runs on a virtual balance (for example 10,000 USDT), and users can practice spot and futures trading in a simulated environment. The demo account is very useful for beginners who want to get familiar with the exchange's interface and tools.

Crypto loans

MEXC also lets users take out crypto loans. Users can borrow by staking (locking up) their cryptocurrencies as collateral. Loan terms are 30, 60 or 90 days, and the interest rate depends on the coin and market conditions. This service suits people who need liquidity but don't want to sell their assets.

The MEXC token

MEXC has launched its own native token, called MEXC, which has several uses:

• Lower fees: MEXC token holders get up to a 50% discount on trading fees.
• Staking: Users can stake the MEXC token and earn an annual yield (APY).
• Taking part in events: The token is used in MEXC's festivals, airdrops and launchpad events. Like other cryptocurrencies, the MEXC token's price fluctuates, and it can be an investment option.

Copy trading on MEXC

In this section, once users have chosen a trader, they set the amount of capital and the level of risk, and all of that trader's trades are copied into their account automatically.

• Each trader has a profile showing their profit percentage, number of followers and trading history.
• Users can stop copy trading or change the amount of capital allocated at any time.
• Traders earn a percentage of each follower's profits as a commission.

Demo trading on MEXC

In this section, users can practice spot or futures trading with virtual funds and no financial risk. Here's how to use demo trading:

1. Log in to your account and select Demo Trading from the Futures section of the main menu.
2. Receive an initial virtual balance of several thousand USDT.
3. Choose the trading pair you want and place a Limit or Market order.
4. Review how your trades perform under real market conditions.

MEXC Mastercard

MEXC has a crypto Mastercard that lets users convert their digital assets into fiat money and spend it in stores around the world. The card is available to users who have completed advanced identity verification.

Earn by inviting friends

MEXC has a refer-a-friend program that lets users earn up to 80% of the trading fees paid by the people they invite to the exchange. The program is especially attractive for users with active social media followings.

Festivals and prizes

MEXC regularly runs trading festivals, airdrops and competitions in which users can win the MEXC token or other prizes. These events are usually announced in the Events section of the website.

Launchpad and Kickstarter

MEXC's Launchpad lets users take part in the initial token sales of new projects. With Kickstarter, users who stake the MEXC token can join free airdrops and receive tokens from emerging projects.

Trading crypto ETFs on MEXC

MEXC lets its users trade leveraged ETFs. ETFs are trading instruments that reflect the price changes of an underlying asset multiplied by a leverage factor.

On MEXC, ETFs are offered as tokens such as BTC3L (3x long on Bitcoin) or BTC3S (3x short on Bitcoin).

Key points about trading ETFs on MEXC:

• There's no margin to manage and no risk of liquidation.
• Leverage is rebalanced automatically to reduce risk.
• ETF trading fees are the same as spot trading fees.
• You can buy and sell instantly on the spot market.

Peer-to-peer (P2P) trading on MEXC

MEXC offers peer-to-peer (P2P) trading for buying and selling crypto directly between users. In this section, users can buy and sell coins such as USDT, BTC and ETH without an intermediary, paying by bank transfer.

Here's how a P2P trade works on MEXC:

1. Go to Buy Crypto → P2P Trading.
2. Choose the coin and your preferred payment method.
3. Pick a suitable seller from the list of verified sellers.
4. Transfer the funds as instructed and confirm the payment on the platform.
5. The seller releases the assets once they've received the funds.

MEXC protects transactions with an escrow system, so both the buyer's and the seller's assets stay safe.

Coin conversion on MEXC

On MEXC, users can use the Convert feature to quickly swap one cryptocurrency for another. It's found under Spot → Convert, and unlike spot trading, you don't need to place an order or pay a fee.

Here's how to convert cryptocurrencies on the exchange:

1. Choose the source and destination coins.
2. Enter the amount you want to convert.
3. Check the live rate and confirm the transaction.
4. The coins are converted and the new coin is credited to your spot wallet.

MEXC education academy

The MEXC academy (MEXC Learn) is the exchange's official education section. It publishes educational articles on technical analysis, spot and futures trading, project overviews, security and blockchain concepts.

The content is organized by level, from beginner to advanced, and is available in several languages, including English and Chinese. Users can reach the academy from the main menu of the MEXC website and make use of its up-to-date articles and video tutorials.

MEXC bonuses

To attract new users and reward existing ones, MEXC runs a variety of bonus programs that help boost trading profits. The exchange offers different bonuses for futures trading and other activities. Below, we look at the most important types:

• Welcome bonus: New users who sign up on MEXC and make their first deposit can receive a bonus of up to 1,000 USDT. This bonus is usually credited as futures trading credit, and activating it requires a deposit of at least 100 USDT plus a set amount of trading volume.
• Futures trading bonus: Users who trade futures can receive bonuses of up to 200 USDT based on their weekly trading volume. For example, traders with more than 5,000 USDT in weekly volume may receive a 50 USDT bonus.
• Special event prizes: MEXC regularly runs trading events in which users who make spot or futures trades can win prizes such as the MEXC token, USDT bonuses or even electronic devices (such as smartphones).
• Fee rebate program: Some bonuses come as a rebate of part of your trading fees (up to 30%), which is especially attractive for high-volume traders.

Key points:

• Bonuses usually come with specific conditions, such as a minimum trading volume or holding the MEXC token in your account.
• Futures bonuses cannot be withdrawn and can only be used for futures trading.
• To receive a bonus, you need to register for the relevant event in the Events section of the website.
• Iranian users should use bonuses with caution. They should access their accounts from a static IP so they don't run into problems when withdrawing their rewards.

MEXC fees

MEXC is very popular because of its low, competitive fees compared with other exchanges such as Binance and KuCoin. The fee structure is as follows:

Spot trading fees

Spot trading fees on the exchange are as follows:

• Maker: 0.00% (free)
• Taker: 0.1%
• MEXC token holders: Holding the MEXC token cuts the taker fee to as low as 0.08%.

Futures trading fees

Futures trading fees on MEXC are as follows:

• Maker: 0.00% (free)
• Taker: 0.02%
• MEXC token holders: up to an extra 20% discount on the taker fee.

Deposit and withdrawal fees

Deposit and withdrawal fees are as follows:

• Deposits: free for all cryptocurrencies.
• Withdrawals: Depends on the cryptocurrency and the blockchain network. For example:
  • Bitcoin (BTC) on the BTC network: about 0.0005 BTC
  • Ethereum (ETH) on the ERC-20 network: about 0.005 ETH
  • Tether (USDT) on the TRC-20 network: about 1 USDT (the cheapest option)
  • Tether (USDT) on the ERC-20 network: about 5 USDT

The MEXC fee table is as follows:

The MEXC app

MEXC has built its own app for users' convenience, offering every feature of the web version in a simple, portable package. The app is available for Android and iOS and lets users trade, manage their assets and use the exchange's services anytime, anywhere.

The MEXC app's features include:

• Spot and futures trading: trade with the same advanced tools as the web version.
• Asset management: view your balance, and deposit and withdraw coins.
• Copy trading and demo account: full access to both features.
• Price alerts: set alerts for changes in coin prices.
• Strong security: support for two-factor authentication (2FA) and data encryption.
• 24/7 support: access to live chat and tickets from within the app.

App download links

• Android: Download the MEXC app for Android
• iOS: Download the MEXC app for iOS

MEXC tutorial

With its simple interface and wide range of features, MEXC is an excellent choice for both beginners and professionals. In this section, we show you how to use the exchange so you can easily sign up, fund your account, trade and manage your assets. Whether you're making spot trades or advanced futures trades, this guide walks you through every step. Follow these tutorials and you can use the MEXC platform with confidence.

How to sign up on MEXC

Signing up on MEXC is very simple and does not require mandatory identity verification. Follow these steps:

1. Go to the official website: Visit www.mexc.com. Use a VPN with a static IP.
2. Choose Sign Up: Click the Sign Up button in the top-right corner.
3. Enter your details: Enter your email address or phone number. Choose a strong password (at least 8 characters, mixing letters and numbers).
4. Verify your email/phone: Enter the verification code sent to your email address or phone number.
5. Complete sign-up: Once you're verified, your account is created. For extra security, turn on two-factor authentication (2FA) in the settings.

Identity verification on MEXC

Identity verification (KYC) on MEXC is optional and isn't needed for most activities (such as spot and futures trading). However, KYC is required to raise your withdrawal limit and to access certain services. According to available information, MEXC has two KYC levels:

• Primary level (Primary Access):
  • Withdrawal limit: 25 BTC per day.
  • Trading limit: up to $100,000 per day.
  • Required documents: a valid passport or ID card, along with a selfie.
  • Verification time: up to 24 hours.
• Advanced level (Advanced Access):
  • Withdrawal limit: 200 BTC per day.
  • Required documents: additional documents such as proof of address (a water or electricity bill, or a rental agreement).
  • Verification time: up to 24 hours.

Because of sanctions, Iranians cannot complete identity verification. Even so, without KYC they can withdraw up to 25 BTC per day, which is enough for most users. If you do plan to complete KYC, you would have to provide non-Iranian documents and avoid revealing your Iranian identity, which also carries a high level of risk.

The table below shows the identity verification levels on MEXC:

How to deposit and withdraw on MEXC

Depositing and withdrawing on MEXC is simple and fast. Below, we walk through the deposit and withdrawal steps on MEXC in full:

Depositing to MEXC

To deposit to MEXC, follow these steps:

1. Log in to your MEXC account.
2. From the top menu, click Assets and then Deposit.
3. Choose a coin: Select the cryptocurrency you want (such as USDT or BTC).
4. Select the right blockchain network (such as TRC-20 for USDT). Make sure the network matches the one used by the sending wallet.
5. Your deposit address is displayed. Copy it or scan the QR code.
6. From your wallet, send the coins to the address you copied.
7. Depending on the network you chose, a deposit usually takes between 1 and 30 minutes.

Withdrawing from MEXC

To withdraw from MEXC, follow these steps:

1. In the Assets section, click Withdraw.
2. Select the coin and blockchain network (such as TRC-20).
3. Enter the destination wallet address.
4. Enter the amount to withdraw. The network fee is displayed.
5. Enter your 2FA code and the email/phone verification code.
6. Withdrawals are usually processed within 5 to 60 minutes.

How to trade on MEXC

MEXC offers spot and futures trading through a simple interface. Below, we explain both types of trading in detail:

Spot trading on MEXC

To trade spot on MEXC, follow these steps:

1. From the top menu, click Spot.
2. Select the trading pair you want (such as BTC/USDT) from the list.
3. Use the charts and technical analysis tools (such as TradingView) to study the price.
4. Choose an order type:
   • Limit Order: Set a specific price and amount to buy/sell.
   • Market Order: trade at the current market price.
   • Stop-Limit: to manage risk, set a stop price and a stop-loss.
5. Enter the amount of the coin or USDT you want to trade.
6. Click Buy or Sell. You can view the trade in the Order History section.

Futures trading on MEXC

To trade futures on MEXC, follow these steps:

1. In the Futures section, activate your futures account and transfer funds from your spot account to your futures account.
2. Select a trading pair (such as BTC/USDT Perpetual).
3. Set your leverage anywhere from 1x to 200x (beginners are advised to use no more than 5x).
4. Choose an order type:
   • Limit Order: Set the price and amount.
   • Market Order: trade at the current price.
   • Stop-Market/Stop-Limit: use these to manage risk.
5. Choose a long position (if you expect the price to rise) or a short position (if you expect the price to fall).
6. Enter the trade size based on your balance and leverage.
7. Click Open Long or Open Short.
8. Use the Take Profit and Stop Loss options to manage your risk.

Trading features on MEXC

Trading on MEXC comes with many features, including:

• Advanced charts: TradingView tools with a wide range of indicators.
• Trading modes: Isolated Margin (risk limited to the individual trade) and Cross Margin (uses your entire balance).
• High liquidity: high trading volume reduces price slippage.

How to copy trade on MEXC

Copy trading is one of MEXC's most attractive features. It lets users, especially beginners, follow the strategies of professional traders and copy their trades automatically. It's very useful for people who don't yet have enough experience analyzing the market. Here's how to use copy trading on MEXC:

1. Log in to your MEXC account and, from the Futures menu, select Copy Trading.
2. This section shows a list of top traders with performance details (profit, win rate, risk). Review metrics such as ROI (return on investment), AUM (assets under management) and number of followers.
3. Set the amount of capital you want to allocate to copy trading (minimum 10 USDT).
4. Choose a copy mode: There are two options:
   • Fixed Amount: A fixed amount of capital is copied for each trade.
   • Proportional: a percentage of the professional trader's capital is copied.
5. Once your settings are in place, click Follow. Trades are copied to your account automatically.
6. In the My Copy Trading section, you can review how the trades are performing or stop copying.

Demo trading on MEXC

MEXC's demo account (Demo Trading) lets users practice spot and futures trading in a simulated environment with no financial risk. It's an excellent tool for learning and testing trading strategies. Here's how to use the demo account on MEXC:

1. Log in to your MEXC account.
2. From the Futures or Spot menu, select Demo Trading.
3. MEXC usually adds 10,000 virtual USDT to your demo account.
4. Just as with real trading, choose a trading pair (such as BTC/USDT) and place Limit, Market or Stop-Limit orders.
5. Review the results of your demo trades in the Trade History section.
6. Once you've gained some experience, you can move to a real account.

MEXC pros and cons

To help you decide, we've summarized MEXC's pros and cons in the table below:

Conclusion

With its wide range of services, low fees and simple interface, MEXC is one of the best options for crypto traders, especially Iranian users. With support for more than 3,000 cryptocurrencies, spot and futures trading, copy trading, a demo account and attractive bonuses, the exchange serves both beginners and professionals well. Strong security, transparent asset reserves and 24/7 support are among MEXC's strengths. Iranian users, however, need to use it with a VPN and avoid revealing their Iranian identity. If you want an exchange that is both simple and packed with advanced features, MEXC is an excellent choice.