MEXC has built its reputation on two things: listing new tokens early and charging almost nothing to trade them. This MEXC review finds a 2018-founded, Seychelles-registered exchange with 1,388 coins on CoinGecko, a 0% maker fee on spot and futures, and leverage of up to 500x on Bitcoin and Ether perpetuals. It also publishes monthly reserve reports audited by Hacken. The other side of the ledger is regulation: MEXC has no licence from a major authority, and the UK, German, Japanese and Hong Kong regulators have all warned the public about it. It is a tool for experienced traders who understand that risk, not a place for long-term savings.
MEXC at a glance
| Item | Details (November 2026) |
|---|---|
| Founded | 2018 |
| Registration | Seychelles (per CoinGecko) |
| Regulation | No top-tier licence; several regulator warnings |
| Coins / pairs | 1,388 coins, 1,764 pairs (CoinGecko) |
| Spot fees | 0% maker / 0.05% taker (0% on zero-fee pairs) |
| Futures fees | 0% maker / 0.02%-0.04% taker |
| Max leverage | 500x on BTCUSDT and ETHUSDT |
| Proof of reserves | Monthly, Hacken-audited; BTC 288% (Aug 2026) |
| Users | 40 million+ in 170+ markets (MEXC) |
Regulation and safety in this MEXC review
MEXC operates from offshore entities, including MEXC Global Ltd, and does not hold a MiCA licence in the EU, an FCA authorisation in the UK or a US registration. Its European fiat services have been linked to Oceanblue Fintech UAB in Lithuania. The exchange states that residents of the US, UK, Canada, Singapore and Hong Kong cannot complete verification.
Several regulators have publicly flagged the exchange. Japan’s FSA warned in April 2023 that MEXC Global was operating without registration. Germany’s BaFin warned in October 2023 that MEXC’s custody services needed authorisation it did not have. Hong Kong’s SFC added MEXC to its Suspicious Virtual Asset Trading Platforms list in March 2024, and the UK FCA published a warning notice on MEXC Global Ltd the same month, telling consumers to avoid the firm and noting that the Financial Ombudsman and FSCS would not cover them. Further alerts can be looked up on IOSCO I-SCAN. Online review sites also carry many complaints about frozen accounts and withdrawal delays; these are unverified individual claims, but they are worth reading before you deposit.
On solvency, MEXC’s disclosures are stronger. Its August 2026 proof-of-reserves report, audited by Hacken, showed reserve ratios of 288% for BTC, 113% for ETH, 115% for USDT and 114% for USDC. A Guardian Fund held in USDT and BTC is planned to grow from $100 million to $500 million over two years. CoinGecko lists no recorded security incidents for MEXC.
Trading fees
Fees are where MEXC stands out. The base spot rate is 0% for makers and 0.05% for takers, and MEXC’s zero-fee page states that spot pairs currently carry 0% on both sides, with more than 100 futures pairs also at zero under its “0-Fee Fest”. Promotional rates depend on account reviews and volume quotas, and API, institutional and market-maker accounts are excluded.
| Fee type | Standard rate (November 2026) | Notes |
|---|---|---|
| Spot maker / taker | 0% / 0.05% | 0% on zero-fee pairs |
| Futures maker / taker | 0% / 0.02%-0.04% | Varies by region; API 0.01% / 0.05% |
| MX discount | 50% off | Hold 500+ MX for 24 hours |
| P2P | 0% | Both parties |
| Crypto withdrawal | Fixed per coin/network | About 1 USDT on TRC-20 |
Paying fees in MX instead gives 20% off; the two MX discounts do not stack. Card purchases through third-party processors typically cost 2% to 5%, which can wipe out the trading-fee advantage for small buys.
Markets and products
With 1,388 coins and 1,764 pairs on CoinGecko, MEXC is one of the widest spot markets anywhere, and it often lists tokens soon after launch. Futures cover more than 700 contracts, including stock-linked perpetuals. Since April 2025 BTCUSDT and ETHUSDT can be traded at up to 500x, with up to 250x on SOL, XRP, DOGE and ADA. At 500x a 0.2% move against you is enough to lose the margin, so these settings suit only disciplined professionals. MEXC also offers copy trading (not at 250x or 500x), Earn products, launchpad events and a P2P market.
Fast listings bring their own risk: many new tokens have little history and thin liquidity, and prices can collapse quickly.
Account opening and KYC
MEXC’s verification rules have tightened. Its help centre now says verification is required to use products and services, and deposits made before verification may be restricted. Primary KYC needs one ID document and unlocks futures, P2P and withdrawals of up to 80 BTC per day. Advanced KYC adds facial recognition, is reviewed within 24 hours and raises the limit to 200 BTC per day, plus fiat trading up to $20,000 daily. Institutional accounts can reach 400 BTC.
Deposits and withdrawals
Most users fund MEXC with crypto; deposits are free, but each asset has a minimum and smaller amounts are not credited. For fiat, the main routes are the zero-fee P2P market and card or bank purchases through third-party processors. Withdrawal fees are fixed per coin and network, roughly 1 USDT on Tron but several dollars on Ethereum.
Who MEXC suits
- Suits: experienced traders who want the lowest possible fees and early access to new tokens.
- Suits: futures traders who understand leverage and keep only working capital on the platform.
- Avoid: residents of the US, UK, Canada, Singapore or Hong Kong, and anyone in a country whose regulator has warned about MEXC.
- Avoid: beginners and long-term holders who need regulatory protection.
Final verdict
To sum up this MEXC review: fees of 0% maker and 0.05% taker, a list of nearly 1,400 coins and monthly Hacken-audited reserves make MEXC attractive for active traders. The absence of any major licence and warnings from four regulators are serious drawbacks, and 500x leverage magnifies the danger. We rate MEXC 3.8 out of 5 for its trading terms, with a low security score. Crypto is highly volatile; if you use MEXC, withdraw to your own wallet anything you are not actively trading.
Compare MEXC with the other top crypto exchanges, or read our Bitstamp by Robinhood review and Crypto.com Exchange review.
FAQ
Is MEXC regulated?
No major regulator authorises MEXC. It holds no MiCA, FCA or US licence, and regulators including the UK FCA (2024), Germany’s BaFin (2023), Japan’s FSA (2023) and Hong Kong’s SFC (2024) have issued warnings that it was operating or promoting services without authorisation.
What are MEXC’s trading fees?
As of November 2026 MEXC’s base spot rate is 0% maker and 0.05% taker, with many pairs at 0% on both sides under its zero-fee programme. Futures are 0% maker with taker fees from 0.02% to 0.04% depending on region, and holding 500 MX gives a 50% discount.
Does MEXC require KYC?
Yes. MEXC’s help centre says verification is needed to use its products; Primary KYC unlocks futures, P2P and 80 BTC of daily withdrawals, while Advanced KYC raises this to 200 BTC and allows fiat trading up to $20,000 a day.
What is the maximum leverage on MEXC?
MEXC offers up to 500x on BTCUSDT and ETHUSDT perpetual futures and up to 250x on several other major pairs. Leverage at these levels can liquidate a position after a price move of well under 1%.
Does MEXC publish proof of reserves?
Yes. MEXC publishes monthly reports audited by Hacken; the August 2026 report showed reserve ratios of 288% for BTC, 113% for ETH, 115% for USDT and 114% for USDC.
Facts compiled on 8 November 2026 from the official website, regulator registers and independent reviews listed in the sources. Fees and conditions change; confirm on the official site before opening an account.