MEXC exchange profile

Profile of MEXC: exchange information, markets and recorded details on GradeMarket.

MEXC is one of the lowest-cost major cryptocurrency exchanges in the world, offering 0% maker fees for both spot and futures trading. It also boasts one of the industry's largest selections of digital assets, with more than 3,000 listed cryptocurrencies. According to MEXC's official Terms of Service, Iran is listed as a prohibited jurisdiction. MEXC is particularly attractive to active traders seeking ultra-low fees and early access to newly listed tokens. However, a high-profile incident in 2025 demonstrated that the exchange's risk management practices are not always flawless.

When an Anonymous Trader Forced MEXC to Issue a Public Apology

During the summer of 2025, the account of a well-known trader operating under the pseudonym White Whale was frozen by MEXC over alleged "abnormal trading activity," leaving nearly $3 million in assets inaccessible.

The trader publicly shared the incident on X (formerly Twitter), posting transaction records and accusing the exchange of unfairly restricting access to legitimate funds. As the story gained traction, numerous other users reported experiencing similar account freezes.

The growing public pressure prompted MEXC's Chief Strategy Officer, Cecilia Hsueh, to issue a public apology, stating, "We made a mistake." The exchange fully restored the trader's assets.

News reports indicated that Bitcoin withdrawals from MEXC increased noticeably following the controversy, suggesting a temporary decline in user confidence. At the same time, many observers noted that the company's swift public acknowledgment and full reimbursement were relatively uncommon within the cryptocurrency industry.

Key Features

• 0% maker fees for both spot and futures trading, among the lowest in the industry
• More than 3,000 listed cryptocurrencies
• Rapid listings of newly launched tokens, including the MEXC Alpha platform for on-chain assets
• Multilingual support in over 30 languages
• Referral program offering commissions of up to 50%

Fees and Costs

For spot trading:

• Maker: 0.00%
• Taker: 0.05%

For futures trading:

• Maker: 0.00%
• Taker: 0.02%

These are among the lowest trading fees offered by any major global cryptocurrency exchange.

Users who hold the native MX token may receive up to an additional 50% discount on eligible trading fees.

Security and Trust

MEXC has no history of a major security breach resulting in customer fund losses. The exchange utilizes cold wallet storage and real-time monitoring systems to protect customer assets.

However, the White Whale incident highlighted a different concern: the exchange's automated systems for detecting suspicious activity can occasionally flag legitimate users.

According to MEXC, during the first quarter of 2025, its anti-fraud systems detected and blocked more than 80,000 organized fraud attempts, demonstrating an active compliance and security program. Nevertheless, the case also showed that false positives can occur, sometimes affecting genuine customers.

Support for Iranian Users

According to MEXC's official User Agreement, Iran is explicitly listed among the exchange's prohibited jurisdictions.

Residents of Iran are not officially permitted to register or trade on the platform. This restriction aligns with international sanctions policies, and Iranian identity documents are generally not accepted during the mandatory Know Your Customer (KYC) verification process.

Because MEXC reserves the right to update its list of prohibited jurisdictions without prior notice, these policies may change in the future. However, as of 2026, the exchange is not officially accessible to Iranian users.

Pros and Cons

Pros

• Extremely low trading fees, including 0% maker fees for both spot and futures markets
• Outstanding selection of cryptocurrencies with rapid listings of new projects
• Transparent and relatively swift response to the 2025 account-freezing controversy

Cons

• History of freezing customer accounts with limited initial explanation, even when later resolved
• Officially restricts users from Iran under its Terms of Service
• Lacks licensing from many top-tier Western financial regulators

Compared with Competitors

From a fee perspective, MEXC is among the industry's most competitive exchanges. Its 0% maker fee for futures trading is a feature offered by very few major platforms.

However, in terms of long-term trust and operational reputation, exchanges such as Kraken and Bybit—particularly following Bybit's professional handling of its own 2025 crisis—maintain stronger reputations.

If minimizing trading fees is your highest priority, MEXC ranks among the best available options. If your primary concern is avoiding unexpected account restrictions, a more cautious approach may be warranted.

How to Sign Up in Three Steps

1. Register on the official MEXC website or mobile app using a valid email address or a non-Iranian phone number.
2. Upload valid identity documents to complete the mandatory KYC verification process.
3. Fund your account and select the market you wish to trade.

Frequently Asked Questions

Does MEXC work for Iranian users?

No. According to MEXC's official User Agreement, Iran is listed among the prohibited jurisdictions.

Why are MEXC's trading fees so low?

The exchange's business model emphasizes attracting high trading volume through 0% maker fees and additional discounts for users holding the MX token.

Does MEXC freeze customer accounts without reason?

Several controversial account freezes occurred in 2025. Although the affected users were ultimately compensated after public scrutiny, the incidents demonstrate a risk that prospective users should consider.

Final Verdict and Rating

• Security: 6/10
• Fees: 9/10
• Persian-language Support: 1/10

MEXC is an excellent choice for active traders seeking exceptionally low trading fees and fast access to newly listed cryptocurrencies. However, its history of controversial account freezes serves as a reminder that users should avoid keeping all of their assets on any single centralized exchange, particularly one with an evolving compliance framework.

This review is based on information available as of 2026. Exchange policies, trading fees, supported jurisdictions, and regulatory requirements may change over time. Always verify the latest information on MEXC's official website before opening an account.