Trading on Mexc? What is your experience there?

[Oshosondy]

If I am trading altcoins, I still prefer to to be checking bitcoin price to analyze the market. So because of that, I want to increase the money that I use to trade because bitcoin is volatile. The first trade I made, $2.5 was charged and another $.25 for closing the position. This is for exchanges that has 0.055% for takers fee. Although 0.02% for market makers but there are many times that you will be the taker and not the marker.

I decided to use Mexc. The fee supposed to be $1 instead of $2.5 if I used Mexc because it is 0.02% for takers. $0 for makers because the fee is 0%. I traded my first BTCUSDT on Mexc and I am taker to open a position while maker for closing the position. Everything was true as I was charged $1 when I opened the position and $0 when I closed the position.

I have Mexc account since two or three years ago but I decided not to trade there until now. Anyone here has bad review about the site? The exchange has the lowest fee among the popular exchanges.

[Wapfika]

I have Mexc account since two or three years ago but I decided not to trade there until now. Anyone here has bad review about the site? The exchange has the lowest fee among the popular exchanges.

This exchange is very popular for new token that seeking for a decent volume exchange listing. I have a lot of friend using this exchange for trading new token that has a potential to be listed on big exchange like Binance.

This exchange is already old enough and established their reputation as good mid range exchange. So far, I don’t hear any bad reputation against them aside from the blame of listing too much shitcoins that always ended up with a huge dump after the listing but in regards with reputation they are good imho.

[lanvjpboy]

MEXC has gradually introduced selective KYC processes. Some users have been prompted to complete KYC, while others have not, leading to some confusion. It seems the KYC enforcement may depend on region or triggered risk factors. While there has not been an official announcement of mandatory KYC for all users, the exchange has started to align with global regulatory pressures.

marketsherald.com/mexc-is-quietly-rolling-out-kyc-users-report
coinscan.com/exchanges/mexc-review

[Oshosondy]

MEXC has gradually introduced selective KYC processes. Some users have been prompted to complete KYC, while others have not, leading to some confusion. It seems the KYC enforcement may depend on region or triggered risk factors. While there has not been an official announcement of mandatory KYC for all users, the exchange has started to align with global regulatory pressures.

I heard about the mandatory KYC. But KYC should not be a problem as many exchanges have KYC now. I am verified on Binance, Bybit and some other exchanges that I am using. About the KYC on Mexc, I still check my account and I saw a withdrawal limit of 80 BTC per day for unverified users. I think those that have to be verified are countries that make KYC compulsory for the exchange.