Opinions on Mexc GLobal

[hugeblack]

Such exchanges start with no mandatory KYC, and then if there are trading volumes and exchange becomes large enough, it will ask users for mandatory KYC, and here it will give you one week to 6 months for withdrawing, or they will not find a sufficient number of users, and here it will either turn into scam or be closed.

In any case, Mexc GLobal is good if you want to make small exchanges between $10 and $1000, and I do not advise you to do more than that unless you are willing to complete identity verification (and here there are better alternatives).

[1715085342]

1715085342

[hopenotlate]

Thanks everybody for your valuable contributions.
My curiosity was triggered by their non KYC policy that according to their FAQ and also confirmed by the screenshots of their account Potato Chips kindly shared in this thread.
There are indeed some red flags that, if I understood correctly, mainly concern those who carry out leverage trading because there is a huge interest conflict because Mexc acts as market makers in several low volume coins, so takes the other side of the trades and therefore winning futures traders make profit at the expense of Mexc.  ( please correct me if I didnt' get things correctly).

PS: feel free to address me to other no KYC exchange out there will be happy to take a closer look at them ( not referring to instant swap services but the  custodial exchanges type).

[Moreno233]

Thanks everybody for your valuable contributions.
My curiosity was triggered by their non KYC policy that according to their FAQ and also confirmed by the screenshots of their account Potato Chips kindly shared in this thread.
There are indeed some red flags that, if I understood correctly, mainly concern those who carry out leverage trading because there is a huge interest conflict because Mexc acts as market makers in several low volume coins, so takes the other side of the trades and therefore winning futures traders make profit at the expense of Mexc.  ( please correct me if I didnt' get things correctly).

PS: feel free to address me to other no KYC exchange out there will be happy to take a closer look at them ( not referring to instant swap services but the  custodial exchanges type).

Most of the exchanges that does not require KYC impose limits in withdrawal and some features of the exchange. Here is a link of some of the exchanges that do not require KYC and their respective limits. Unfortunately, MEXC still came out top in that list which makes me wonder if they are the actually the best in the market at the moment giving some of the points you raised.

[Rikafip]

Such exchanges start with no mandatory KYC, and then if there are trading volumes and exchange becomes large enough, it will ask users for mandatory KYC, and here it will give you one week to 6 months for withdrawing, or they will not find a sufficient number of users, and here it will either turn into scam or be closed.

KYC is inevitable for exchnage such as Mexc as sooner or later they will want to expand their business and meet the strict regulations.

In any case, Mexc GLobal is good if you want to make small exchanges between $10 and $1000, and I do not advise you to do more than that unless you are willing to complete identity verification (and here there are better alternatives).

Even though the high the amount, the bigger the risk that they will ask for KYC, they can still do it even for lower amounts as I heard about cases where Kucoin (back in those days before they had mandatiry KYC) suddnely required KYC for much smaller amounbt than $1k so I would say that unless you are willing to go through KYC, send only the amount you are ready to lose. At least that's how I used Kucoin. 

[PX-Z]

What's the reason of choosing such lower volume exchange when there are much more better that can be found on cmc top exchanges.

So your main factor when choosing an exchange is volume? I seriously doubt that OP is some sort of whale who would have issue with their "measly" $1B trading volume.

Yes, i prefer much more options too for trading purposes and with p2p platform.

Such exchanges start with no mandatory KYC, and then if there are trading volumes and exchange becomes large enough, it will ask users for mandatory KYC, and here it will give you one week to 6 months for withdrawing, or they will not find a sufficient number of users, and here it will either turn into scam or be closed.

KYC is inevitable for exchnage such as Mexc as sooner or later they will want to expand their business and meet the strict regulations.

Yes, every huge exchange follow this process, binance, kucoin, ^{(at least the exchanges i used)}. This usually happens when they expand their business as you have said.

[aTriz]

Could't find on the forum a thread dedicated to Mexc Global exchange , please address me to it if I missed it, and would like to hear about your experiences, your opinions or generally speaking what do you thik about it:  reliability, safety, functioning and whatever you feel it is worth sharing.
Thanks in advance for the time to answer me.

Other than the fact that they require KYC I haven't heard anything wrong about them. things can change anytime in crypto and centralized exchanges, but so far MexC is proven to be safe and trusted Crypto exchange.
they have a Security ranking of AA with 86%  Average Score https://cer.live/exchange/mxc
they have $1.6Billion Trading volume (24 hours) and are at 15th in Coinmarketcap ranking https://coinmarketcap.com/rankings/exchanges/
so yeah. they are pretty good among CEX exchanges..

[PrivacyOui]

There is still no mandatory KYC as of writing otherwise there's likely gonna be an announcement for it.

A snap from my unverified account:

Nice to have a proof from your original account.
MEXC seems to be still a reliable exchange, where KYC should not be an issue if our coins are not from shady origin.

[merekamo]

Could't find on the forum a thread dedicated to Mexc Global exchange , please address me to it if I missed it, and would like to hear about your experiences, your opinions or generally speaking what do you thik about it:  reliability, safety, functioning and whatever you feel it is worth sharing.
Thanks in advance for the time to answer me.

Sofar what I have used in January has been fine, no problems. Because I only need it when there is a listed token that I want to trade. Just that. For now, we withdraw assets without having to KYC like other exchanges, yes, even though the trading volume is relatively small, it is enough for me.
One of the conveniences of MEXC global, no KYC. So to withdraw you only need 2fa, so in my opinion this is good if you withdraw assets with a small amount. Even so, I don't put all my assets in mexc. So, this is just for security if something fud happens or is related to security.

[ALGORERHYTHMS]

What's the reason of choosing such lower volume exchange when there are much more better that can be found on cmc top exchanges.

Recent 24 hours trading volume on MEXC is $1.234 billion. Is that volume low? It has $884,041,357 normalized volume. In derivative market, it has $2,481,750,551 24 hours trading volume. I noticed the exchange dropped in rank recently, likely something not good may be going on and which might be what you pointed to.

Made an account here just to say the stole $40,000 from me a few days ago. They claim abnormal profits without providing any proof and refuse to return funds. After some investigating I'm 99% certain the exchange is just a front for a huge scam.

[PX-Z]

Made an account here just to say the stole $40,000 from me a few days ago. They claim abnormal profits without providing any proof and refuse to return funds. After some investigating I'm 99% certain the exchange is just a front for a huge scam.

Can you provide more info? Or better to make a new thread on the scam accusation board, follow this format and provide more information supporting your accusation.

[xLays]

Made an account here just to say the stole $40,000 from me a few days ago. They claim abnormal profits without providing any proof and refuse to return funds. After some investigating I'm 99% certain the exchange is just a front for a huge scam.

Is there any other reason why you guys have to open an account with this exchange aside from the fact that the only coin/crypto you can trade on this exchange? Why not just stick to those reputable exchanges like Binance, Kraken and Coinbase, to name a few? Look at their Trustpilot rating, almost a 1 star rating. https://www.trustpilot.com/review/www.mexc.com

[rat03gopoh]

Even though no KYC seems tempting, just imagine all the top exchanges implementing KYC policies even $1 trades while this one doesn't, it feels like global regulations never give exclusive rights. I also don't think they escape the scrutiny of AML authorities.
I'dn't put at least $10 before I became a verified user, or not use it at all.

[Rikafip]

Made an account here just to say the stole $40,000 from me a few days ago. They claim abnormal profits without providing any proof and refuse to return funds. After some investigating I'm 99% certain the exchange is just a front for a huge scam.

Care to share more info about what exactly happened there? I know some people using it and from what I hear, they are quite satisfied with them.

Also, if you prefer you could open a scam accusation thread in Scam Accusation board. It won't help you get your money back, but will serve as a reminder to all those still holding large amounts of money on centralized exchanges.

[ALGORERHYTHMS]

Made an account here just to say the stole $40,000 from me a few days ago. They claim abnormal profits without providing any proof and refuse to return funds. After some investigating I'm 99% certain the exchange is just a front for a huge scam.

Care to share more info about what exactly happened there? I know some people using it and from what I hear, they are quite satisfied with them.

Also, if you prefer you could open a scam accusation thread in Scam Accusation board. It won't help you get your money back, but will serve as a reminder to all those still holding large amounts of money on centralized exchanges.

Hey sorry just seeing this reply. I interviewed with Cointelegraph and shared a few details here:

https://cointelegraph.com/news/mexc-says-clawbacks-only-affect-delinquent-traders-as-users-report-missing-funds

It was a great experience until I started making too much money. Mexc claims they had to take profits away from me in order to cover losses the exchange took. That gave me the impression they're trading against users. My account was frozen for 2 months citing risk control which ended up turning up nothing. I could go on for a long time about this and will probably end up starting a thread, like you said. Mexc says some of my trades had abnormal profits but won't provide any evidence. They erased all trading data from my account and so far I've been able to track down only $3,000 of the $40,000 that left my account. Sorry if it sounds like I'm rambling this is still very frustrating to me. I approached their VP with details of recent events and dirt I've dug up on the exchange and he's since stepped down from his position. No official word from Mexc but you can see via his LinkedIn page. They have a pending RICO case against them and many of their main wallets have been flagged for scams and fraud. Feel free to ask any questions.

[EarnOnVictor]

Could't find on the forum a thread dedicated to Mexc Global exchange , please address me to it if I missed it, and would like to hear about your experiences, your opinions or generally speaking what do you thik about it:  reliability, safety, functioning and whatever you feel it is worth sharing.

I tried as much as possible not to ignore you because I always want people to sail safely when it comes to dealing with cryptocurrency. However, we all have to be careful no matter how good the exchange looks, and the only important revelation I have about this exchange is that it is always the first or almost the first to add a new coin, whether important or not to their platform. They are strongly competing with the DEX in new listings and I must say I give them that. But you to say you do not find their reviews online is shocking because it is always there, and in summary, it is a mix of bad and good reviews as usual.

Personally, I can't use this exchange when there are better ones with higher ratings and daily trading volumes, and such that I have been using for more than 5 years. But if you must use MEXC, just entrust only a small amount of money to them. This is because I've read a review where someone with a not-so-big amount of money was not allowed to withdraw it. Though it is not peculiar to it but when a mere amount like $12,000 is not allowed to be withdrawn, then it is not worth recommending. As one of the low-volume exchanges, they are still doing a lot to attract customers, so you do not fall for that. Just look beyond their supposed goodness and how your money could be deposited and withdrawn without any glitches.

Their platform is also okay, more than average if I rate them well, but I have never tried their customer support. You can start dealing on their platform without KYC as well, but note that they do not preach no-KYC entirely, so they may ask for it at any time depending on the type of customer you are in terms of your transactions, the size of funds, service used, trading volume and many more.

[hd49728]

Could't find on the forum a thread dedicated to Mexc Global exchange

Recent years, there are less cryptocurrency exchanges that have announcement threads in Bitcointalk. I thought MEXC does not have announcement thread in the forum but searching gives me this.
[ANN][pre-ICO Started] MEXC ▶︎ Real Products ▶︎ USD6.8b Industry ▶︎ Save Lives

Personally, I can't use this exchange when there are better ones with higher ratings and daily trading volumes, and such that I have been using for more than 5 years. But if you must use MEXC, just entrust only a small amount of money to them. This is because I've read a review where someone with a not-so-big amount of money was not allowed to withdraw it.

MEXC is considered as a transitional exchange for new cryptocurrency, to list there, before going to be listed on bigger exchanges like OKX, Bybit, Bitget and Binance. It is what I knew when I used it but I don't know about recent issues people got with MEXC.

Not allowed to withdraw can be from many reasons and if we don't know reasons of those cases, it's hard to say issue is on MEXC side.