MEXC Review Nov 2025 – Is It safe for UK Traders?

UpdatedNovember 5, 2025 Author Jerry Dennis JD Reviewed Samantha Lee SL Testing Test Disclaimer Disc

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Last reviewed: November 5, 2025

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Contents

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Quick Answer: Is MEXC Worth Using for UK Traders?

MEXC is a global crypto exchange open to UK users. It offers low fees thousands of coins and advanced trading tools but is not FCA regulated. This means no UK investor protection. It suits experienced traders comfortable with offshore platforms rather than beginners who prefer regulated services.

What Is MEXC Exchange?

MEXC is a centralised cryptocurrency exchange offering spot futures staking and copy trading. It operates globally and is popular for listing new tokens early. Unlike UK regulated exchanges it focuses on high liquidity low fees and advanced trading rather than fiat services and regulatory protection.

Who Owns MEXC and When Was It Founded?

MEXC launched in 2018. It was created by former blockchain and finance professionals. The company is registered in Seychelles and operates internationally. It reports more than 10 million users across 170 plus regions including the UK.

Where Is MEXC Based?

MEXC is headquartered in Seychelles. It operates under an offshore registration which allows it to serve international users. It does not have a physical office in the UK and is not registered as a UK financial service provider.

How Does MEXC Work as a Crypto Trading Platform?

Users deposit crypto or buy via third party payment processors. Trades are executed on its internal matching engine. It supports spot trading futures ETFs staking and launchpad sales using a web platform mobile app or API.

Why Are UK Traders Interested in MEXC?

UK traders use MEXC mainly for its range of cryptocurrencies high leverage futures and lower crypto trading fees compared to FCA regulated exchanges. It allows access to tokens not listed on Coinbase or Kraken. The platform’s global user base surpassed 40 million users in May 2025 showing strong adoption.

What Makes MEXC Appealing Compared to UK Exchanges?

It offers more trading pairs leverage options and lower fees than regulated UK exchanges. There are no strict region based restrictions. It lists new tokens faster and provides futures and copy trading which many UK exchanges do not.

Which Cryptos and Trading Options Attract UK Users?

MEXC lists more than 2800 cryptocurrencies including meme tokens small caps and major assets. It offers spot futures trading up to 200x leveraged ETFs staking and launchpad token launches.

Is MEXC Legal Safe and Compliant in the UK?

MEXC is not FCA regulated but UK residents can still legally access and use it. It operates under offshore licensing and applies basic AML KYC policies. It offers 2FA cold storage and proof of reserves but user funds are not protected by the FSCS.

Is MEXC Regulated by the FCA?

No. MEXC is not authorised by the Financial Conduct Authority. It operates from overseas and does not fall under UK financial regulation or investor protection schemes.

Does MEXC Operate Legally in the UK or Under Offshore Licensing?

MEXC is licensed in Seychelles and follows international compliance standards. It does not hold a UK specific licence. The platform allows UK residents to register and trade crypto but it is not officially endorsed under UK financial law.

What Compliance Policies Does MEXC Follow (AML KYC GDPR)?

MEXC uses identity verification for higher withdrawal limits and follows AML rules. Basic accounts can trade without KYC but with limits. It claims compliance with GDPR for user data and monitors suspicious activity.

Is MEXC Secure and Has It Ever Been Hacked?

MEXC uses cold storage 2FA address whitelisting and anti phishing codes. No major confirmed hacks have been reported. Some user complaints relate to withdrawal delays rather than security breaches.

Does MEXC Provide Proof of Reserves or Insurance for User Funds?

MEXC publishes proof of reserves showing user assets are held 1 to 1. It does not provide formal insurance like some regulated exchanges. Funds are partly held offline to reduce risk.

Are There FCA Warnings or Regulatory Risks About Using MEXC?

The FCA has issued warnings about unregulated overseas crypto exchanges but has not named MEXC directly. Using non FCA platforms means users have no FSCS protection and no legal support if funds are lost or accounts are frozen.

How Do We Rate MEXC? (Overall Score 3.9/5)

MEXC scores well for low fees asset range and futures trading. It loses points for lack of FCA regulation mixed customer support and no fiat withdrawals. Total rating is 3.9 out of 5 reflecting strong trading value but higher risk.

We've evaluated MEXC across key categories based on our comprehensive methodology. Here's how they score:

Factor	Score out of 5	Notes
Security	4.0	Cold storage, 2FA, no major hacks
Regulation	2.5	Not FCA regulated, offshore licence
Fees	4.5	Spot 0%, futures 0.02%, low withdrawal fees
Asset variety	4.8	Over 2,800 coins listed
Ease of use	3.8	Good interface but not beginner friendly
Customer support	3.2	Slow responses, Trustpilot issues
Trust and transparency	3.6	Proof of reserves, no insurance
Overall score	3.9	Strong trading features, higher risk profile

Table showing MEXC rated across key categories with an average score of 3.9 out of 5.

How Do You Open a MEXC Account in the UK?

Creating an account is simple and done online. Users register with an email or mobile number set a password then enable security tools like 2FA. Full KYC is optional but required for higher withdrawal limits and to access more features.

What KYC or Verification Is Required for UK Users?

Basic accounts only need email verification. To unlock higher withdrawal amounts users must submit ID selfie and sometimes proof of address. KYC also enables fiat purchases and participation in launchpad sales.

How Long Does MEXC Verification Take?

Verification usually takes minutes to a few hours. In some cases manual review may take up to 24 hours. Delays can occur during high traffic or if documents are unclear.

What Trading Features Does MEXC Offer UK Users?

MEXC provides a wide set of trading options including spot futures leveraged ETFs staking and copy trading. It suits active traders seeking more than simple buy and hold options available on UK regulated exchanges.

Does MEXC Support Spot and Futures Trading?

Yes. Spot trading allows instant buying and selling. Futures trading includes USDT margined and coin margined contracts with up to 200x leverage. MEXC is popular among futures traders due to deep liquidity and low taker fees.

Can UK Users Access Copy Trading on MEXC?

Yes. Copy trading lets users automatically mirror the trades of selected professionals. It is available on futures markets. Users can filter traders by profit rate win rate or risk score. Profits and losses apply in real time.

What Extra Tools Are Available (Launchpad Staking Bots)?

MEXC includes staking for passive rewards launchpad for early token sales ETF products and grid trading bots. These tools allow automated strategies and early access to new crypto assets. Some tools require KYC or holding MX token.

How Much Are MEXC Fees in the UK?

MEXC is known for low trading fees. Spot fees start at 0 maker and 0.05 taker. Futures fees are 0 maker and 0.02 taker. Withdrawal fees vary by coin. No fees for crypto deposits. Fiat purchases use third party processors and may include service charges.

What Are the Spot and Futures Fees?

Spot trading uses 0 percent maker and 0.05 percent taker fees. Futures contracts use 0 percent maker and 0.02 percent taker. Fees can drop lower with higher volume or MX token holding.

Can You Get Fee Discounts with MX Tokens or VIP Levels?

Yes. Holding MX token reduces trading fees especially on futures. Higher VIP tiers are based on trading volume and MX balance. Users with at least 500 MX get 50 percent futures fee reduction.

Are There Withdrawal or Other Charges for UK Users?

Crypto withdrawals have fixed network fees per asset. GBP withdrawals are not supported directly. Fiat purchases using cards or third parties include service fees set by providers like Ramp or Banxa.

Understanding the complete fee structure is essential when choosing a crypto exchange. Here's a breakdown of all costs and fees associated with MEXC:

Fee Type	Cost	Details & Notes
Spot Trading - Maker	0.00%	No fees for limit orders that add liquidity to the order book. 20% discount available when paying with MX tokens
Spot Trading - Taker	0.05%	Fee for market orders that remove liquidity. Reduces with higher trading volume (VIP tiers available)
Futures Trading - Maker	0.00%	Zero maker fees for futures contracts. MX token holders receive additional 20% discount
Futures Trading - Taker	0.02%	Industry-low taker fee for futures trading. Fee reduces to 0.00% at VIP 1 tier ($15M+ 30-day volume)
Funding Rate (Futures)	Variable	Paid between long and short traders every 8 hours. Typically ranges from -0.05% to +0.05%. Check current rates on platform
P2P Trading - Maker	0.20%	Fee for peer-to-peer trades when creating an order
P2P Trading - Taker	0.20%	Fee for peer-to-peer trades when accepting an existing order
Cryptocurrency Deposits	Free	No deposit fees. You may incur network/gas fees from your sending wallet
Fiat Deposits (Card/Bank)	3-5%	Fees charged by third-party payment providers (Banxa, Mercuryo). Varies by payment method and region
Bitcoin (BTC) Withdrawal	0.0002 BTC	BTC Network: 0.0002 BTC (~£2.22) \| BSC Network: 0.00000622 BTC (~£0.69) - Below industry average
Ethereum (ETH) Withdrawal	Network-dependent	ETH Network: ~0.0011 ETH \| BSC Network: ~0.00013 ETH (much cheaper). Always verify network compatibility
USDT Withdrawal	Network-dependent	TRC-20 (Tron): Typically lowest. ERC-20 (Ethereum): Higher. BSC & Polygon: Mid-range. Check platform for current rates
Other Crypto Withdrawals	Varies by coin	Dynamic fees based on blockchain congestion. 2,800+ coins supported with different withdrawal fees
Inactivity Fee	None	MEXC does not charge fees for holding cryptocurrency on the platform
Account Maintenance	Free	No monthly or annual account fees

Fee information verified as of November 2025. Withdrawal fees are dynamic and may change based on network conditions. Always verify current fees on MEXC's official fee page before transacting. VIP discounts available for high-volume traders.

How Do UK Users Deposit and Withdraw on MEXC?

MEXC does not support direct GBP bank deposits. Users must deposit crypto or buy using third party payment services. Withdrawals are crypto only. To access GBP funds users must transfer assets to a UK regulated exchange.

Does MEXC Support GBP Deposits or Bank Transfers?

Not directly. MEXC does not offer Faster Payments or UK bank transfers. Users can buy crypto with GBP through card Apple Pay or bank transfer using third party providers like Ramp or Banxa.

What Withdrawal Options Are Available for UK Traders?

Withdrawals are crypto only. Users send funds to personal wallets or other exchanges. To convert to GBP users must withdraw from a regulated exchange such as Coinbase Kraken or Binance that supports UK banking.

What Are the Pros and Cons of MEXC for UK Users?

Low trading fees
Wide range of cryptocurrencies
Futures copy trading and staking available
No mandatory KYC for basic use
Fast listings of new tokens

Low trading fees
Wide range of cryptocurrencies
Futures copy trading and staking available
No mandatory KYC for basic use
Fast listings of new tokens

Who Is MEXC Best Suited For in the UK?

MEXC suits experienced traders who prioritise low fees wide coin access and leverage trading over regulation and GBP services. It does not suit users who want investor protection or simple bank linked trading.

Is MEXC Beginner Friendly?

MEXC can be used by beginners but the interface advanced tools and lack of GBP support may be confusing. New investors may prefer FCA regulated platforms with simpler features.

Is MEXC Better for Advanced or High Leverage Traders?

Yes. Advanced traders benefit from futures up to 200x leverage API support and trading bots. It is best suited for users familiar with self custody and risk management.

How Does MEXC Compare to Other UK Crypto Exchanges?

MEXC offers lower fees and more coins than Coinbase or Kraken but lacks FCA protection and GBP withdrawals. It is a high utility platform for trading but carries higher regulatory and withdrawal risks. See our Kraken review and Coinbase Review for a more in depth breakdown.

MEXC vs Binance vs Coinbase vs Kraken – Key Differences

Exchange	UK Regulation	Spot Fees (Maker/Taker)	Futures Trading	Coins Available	GBP Deposits	Trustpilot Rating
MEXC	Not Regulated	0% / 0.05%	Yes Up to 200x leverage	2,800+	Third-party only	1.8 out of 5
Binance	Limited Access No retail trading	0.1% / 0.1%	Yes Up to 125x leverage	600+	Yes Bank transfer or card	2.0 out of 5
Coinbase	FCA Registered Crypto asset activities	0.4% / 0.6%	No Futures unavailable in UK	250+	Yes Bank, card, PayPal	1.6 out of 5
Kraken	FCA Registered Crypto assets	0.16% / 0.26%	Limited No leverage in UK	200+	Yes Faster Payments	2.3 out of 5

Key Insight: MEXC offers the lowest trading fees (0% maker) and largest coin selection (2,800+), but operates without UK FCA regulation. Coinbase and Kraken provide FCA-registered services with consumer protections but charge higher fees. Binance has restricted UK retail access since 2021.

Tax and Financial Reporting – Do UK Users Owe Tax on MEXC?

UK users must report profits made on MEXC to HMRC. MEXC does not provide tax documents or automatic reporting. Users are responsible for tracking trades and calculating gains. Crypto profits are subject to Capital Gains Tax or Income Tax depending on activity.

Does MEXC Report to HMRC or UK Tax Authorities?

No. MEXC does not report user data to HMRC. It is not a UK regulated exchange so there is no automatic data sharing. UK traders must self report profits and losses to HMRC.

How Do UK Users Pay Tax on MEXC Trades?

Users must record each trade including purchase price sale price and fees. Gains above the annual tax free allowance are subject to Capital Gains Tax. Frequent trading staking or referral income may be counted as taxable income.

Final Thoughts – Should You Use MEXC in the UK?

MEXC is available in the UK (with limitations) and is ideal for traders who value low fees large token selection and futures trading. It is not a platform for users seeking regulation FSCS protection or easy GBP banking. It offers strong trading tools but requires personal responsibility.

FAQs

Is MEXC banned in the UK?

No. MEXC is not banned but it is not FCA regulated. UK residents can access it at their own risk. See our page Is MEXC Safe? for our detailed analysis.