MEXC Quick Facts (Verified June 17, 2026)
| Detail | Info |
|---|---|
| Founded | 2018 (as MXC Exchange, rebranded to MEXC Global in 2021) |
| Headquarters | Victoria, Seychelles |
| Global users | 40 million+ across 170+ countries (as of June 2025) |
| Coins supported | 3,000+ cryptocurrencies, 3,500+ trading pairs |
| Spot trading fee (maker) | 0% Verified June 17, 2026 |
| Spot trading fee (taker) | 0.05% Verified June 17, 2026 |
| Futures fee (maker) | 0% |
| Futures fee (taker) | 0.02% (standard) Verified June 17, 2026 |
| Crypto deposit fee | Free |
| Withdrawal fees | Vary by coin and network (no flat fee) |
| Interac e-Transfer | Not supported |
| CAD deposits | Not directly supported |
| Fiat on-ramp options | Credit/debit card via Banxa, MoonPay, Mercuryo; P2P |
| FINTRAC registered | No Verified June 17, 2026 |
| CIRO registered | No |
| Canada in T&C prohibited list | Yes (officially restricted) |
| Canadian regulatory warnings | BCSC, AMF Quebec, Nova Scotia Securities Commission |
| Proof of Reserves | Monthly Hacken audit (April 2026: BTC at 295%) |
| Insurance fund | $100 million Guardian Fund + futures insurance fund |
| Leverage (futures) | Up to 200x on select pairs |
| KYC required | Tiered. Basic trading possible at Tier 0, but full access and withdrawals over 5 BTC/day require KYC |
| Trustpilot rating | 1.6/5 (1,278+ reviews) |
| OCryptoCanada rating | 8/10 |
MEXC Pros and Cons for Canadians
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Pros & Cons
- 0% maker fees on spot, among the lowest anywhere
- 3,000+ coins including altcoins and early listings not available on Canadian platforms
- 0% futures maker fees, significant for active traders
- Monthly Hacken proof-of-reserves audit (BTC reserves at 295% as of April 2026)
- Early token listings. Frequently first major exchange to list new projects
- $100M Guardian Fund plus futures insurance fund
- Copy trading, staking, Launchpad, DEX+ in one platform
- Up to 200x leverage on futures for experienced traders
- Canada is officially listed as a prohibited country in MEXC's terms
- No FINTRAC registration, no CIRO oversight, no Canadian regulatory protection
- Provincial regulators (BCSC, AMF Quebec, Nova Scotia) have issued warnings against MEXC
- No Interac e-Transfer, no direct CAD deposits
- KYC now required for full access. No longer a truly no-KYC platform
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Fees
0%-0.2%
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Coins
3000+
Use this link to get up to 10000 USDT with MEXC if you decide to sign up with them. Not sure which exchange fits your situation? Take our exchange quiz.
Is MEXC Available in Canada? The Honest Answer
Officially, no. Canada is listed as a prohibited country in MEXC’s terms and conditions. MEXC holds no FINTRAC registration and is not authorized to solicit investors in any Canadian province. Provincial regulators including the British Columbia Securities Commission, Quebec’s AMF, and the Nova Scotia Securities Commission have all issued specific warnings against MEXC. In practice, many Canadians do use the platform, primarily for access to altcoins and early token listings unavailable on regulated Canadian exchanges.
I want to be direct about what this means in practice, because the gap between the official position and what actually happens is wide and worth understanding clearly.
The official position: MEXC’s terms list Canada alongside the US, Iran, Cuba, and North Korea as prohibited jurisdictions. The exchange does not hold any Canadian regulatory licence. Three provincial securities regulators have specifically flagged MEXC as operating without authorization in their regions. If you are a Canadian resident and you sign up for MEXC, you are agreeing to terms that say you are not supposed to be there.
The reality: Canadians have been using MEXC for years. The platform does not actively block Canadian IP addresses at sign-up with the same rigour that, say, a US-targeted compliance sweep would enforce. The restriction exists in the terms, appears designed largely to limit MEXC’s legal exposure, and is inconsistently enforced at account creation. This is broadly similar to how other globally-restricted platforms operate in Canada.
What this means for your risk as a Canadian user: if something goes wrong with your account, you have no Canadian regulator to contact for help. The FINTRAC consumer protection framework does not apply. The OSC cannot intervene on your behalf. If MEXC freezes your funds and you are a Canadian who technically agreed to terms saying you should not be on the platform, your recourse is very limited. That is the real risk, and it is worth naming plainly.
With that said: this review covers MEXC honestly, because many Canadians will use it regardless of the official restriction, and an accurate picture of the platform is more useful than pretending it does not exist. If you are looking for fully regulated alternatives, see our best crypto exchanges for Canadians list.
Not sure which exchange fits your situation? Take our exchange quiz.
Is MEXC Legit and Safe? (Security and Track Record)
MEXC has operated since 2018 without a major platform-wide hack or confirmed loss of customer funds. It publishes monthly Hacken-audited proof-of-reserves, maintains a $100 million Guardian Fund plus a futures insurance fund, and keeps the majority of assets in cold storage. It is legitimate in the sense of being a real, functioning exchange with real liquidity. It is not safe in the sense of being regulated or covered by Canadian consumer protections.
MEXC is registered in the Seychelles and holds no recognized financial licence from any tier-one regulator: no SEC, no FCA, no CIRO, no FINTRAC. Multiple regulators beyond Canada have issued warnings: Germany’s BaFin, Austria’s FMA, the UK’s FCA, Hong Kong’s SFC, and Dubai’s VARA have all stated MEXC operates without authorization in their jurisdictions. The Estonian Financial Intelligence Unit revoked the licence of MEXC’s Estonian entity in 2023.
On the security side, the picture is more positive. The April 2026 Hacken proof-of-reserves audit showed BTC reserves at 295%, ETH at 107%, USDT at 126%, and USDC at 139%. All major assets are over-collateralised, meaning MEXC holds more than it owes users. A full penetration test by Hacken in March and April 2025 identified and fixed several vulnerabilities. The $100M Guardian Fund is real and documented. Standard security features are in place: 2FA, anti-phishing codes, withdrawal address whitelisting, IP restrictions, and cold storage for the majority of assets.
The honest summary: MEXC is not a scam or a shell company. It is a large, functioning exchange with real infrastructure and genuine security measures. It is also offshore, unregulated in Canada, and operates in a grey area for Canadian users. Those two things can both be true at the same time.
Can Canadians Trade on MEXC Without KYC?
MEXC used to be one of the last major exchanges allowing meaningful trading without identity verification. That era ended in mid-2025. As of June 2026, Tier 0 (no KYC) limits daily withdrawals to just 5 BTC equivalent and blocks access to fiat on-ramps, Launchpad events, and CARF tax reporting compliance. Effectively, anyone using MEXC for more than minimal crypto-to-crypto trading now needs to submit ID. For a Canadian, that means providing your government-issued documents to an unregulated Seychelles entity.
MEXC’s current KYC tiers work like this:
- Tier 1 (Basic KYC): Government-issued photo ID plus a selfie with liveness detection. Increases daily withdrawal limit to 80 BTC. Unlocks fiat payment options in supported regions. Verification typically completes in 1 to 24 hours.
- Tier 2 (Advanced KYC): All of Tier 1 plus proof of address (utility bill or bank statement dated within 90 days). Required for the highest withdrawal limits, all Launchpad events, and compliance with CARF (Crypto Asset Reporting Framework) protocols that took effect January 1, 2026.
The no-KYC narrative around MEXC is outdated. It was accurate until mid-2025. Since then, KYC has become mandatory for any meaningful use of the platform. If you are a Canadian who creates an account and then tries to withdraw a significant amount, expect a KYC request. Some users on Reddit have reported being asked for KYC when they became profitable or tried to withdraw larger amounts for the first time, which is a pattern worth knowing about before depositing.
What Is MEXC’s History and Track Record?
MEXC launched in 2018 as MXC Exchange, rebranded to MEXC Global in 2021, and has grown to 40 million users across 170 countries. No major platform-wide hack has occurred in its 8-year operating history. It grew from 30 million to 40 million users between December 2024 and May 2025 alone, a 33% increase in five months, driven largely by its early altcoin listing strategy.
MEXC Key Milestones
| Year | Milestone |
|---|---|
| 2018 | Founded as MXC Exchange by Metin Mehmet Durgun, headquartered in Singapore |
| 2021 | Rebranded as MEXC Global. Headquarters moved to Victoria, Seychelles. Shifted focus to global expansion |
| 2021 | Monthly visitor rate reached approximately 5 million |
| 2022 | User base crossed 7 million. Partnership with BitKan announced |
| 2023 | BCSC (British Columbia) and AMF (Quebec) issue warnings against MEXC for operating without authorization in Canada |
| 2023 | Estonian Financial Intelligence Unit revokes licence of MEXC Estonia OÜ |
| Mid-2024 | KYC becomes effectively mandatory for full platform access. June 30, 2024 deadline for existing users |
| 2024 | User base crosses 30 million |
| Q1 2025 | Hacken penetration test completed. Several vulnerabilities identified and fixed |
| May 2025 | User base crosses 40 million (33% growth in 5 months). 214 new tokens listed in one month |
| January 2026 | CARF (Crypto Asset Reporting Framework) protocols implemented. TIN required for full withdrawal access |
| April 2026 | Monthly Hacken audit: BTC reserves at 295%, ETH at 107%, USDT at 126%, USDC at 139% |
How Do You Sign Up and Verify on MEXC?
Sign-up requires only an email address or phone number to start. However, since Canada is listed as a prohibited country in MEXC’s terms, signing up as a Canadian means you are agreeing to terms that restrict your use. Providing a Canadian address or ID at KYC stage may trigger account restrictions or closure. The process itself takes minutes; the compliance risk is the real consideration for Canadians.
Here is what the sign-up and KYC process looks like in practice:
- Create an account. Email address or phone number, plus a password. You will see a country selection field. MEXC’s terms prohibit Canadian residents from registering. This is where the official restriction sits.
- Tier 1 KYC. Government-issued photo ID (passport, national ID card, or driver’s licence) plus a selfie with liveness detection. Automated AI review typically completes within 1 to 24 hours. Manual review as backup. This unlocks 80 BTC daily withdrawal limit and fiat access in supported regions.
- Tier 2 KYC. All Tier 1 documents plus a proof of address dated within 90 days (utility bill, bank statement, or government letter). Required for Launchpad events, highest withdrawal limits, and CARF compliance from January 2026 onwards.
One thing Canadians need to understand before reaching the KYC stage: you will be submitting government-issued identity documents to a Seychelles-based company with no Canadian regulatory oversight. That is not a reason to definitely avoid MEXC, but it is a meaningful difference from submitting your ID to a CIRO-registered dealer like Shakepay or NDAX.
How Do You Add Funds to MEXC as a Canadian?
There is no Interac e-Transfer on MEXC and no direct CAD deposit option. The main practical route for Canadians is to buy crypto on a regulated Canadian exchange first, then transfer it to MEXC. Alternatively, third-party fiat on-ramp providers (Banxa, MoonPay, Mercuryo) support credit and debit card purchases in CAD with fees of roughly 3% to 5%. P2P trading is also available.
Crypto Transfer from a Canadian Exchange
This is what most experienced Canadians using MEXC actually do. Buy BTC, ETH, or USDT on a regulated platform like Shakepay, Newton, or NDAX using Interac, then send it to your MEXC wallet address. Crypto deposits on MEXC are free. Standard blockchain confirmation times apply. Always test with a small amount before sending a large transfer.
Credit/Debit Card via Third-Party Providers
MEXC integrates Banxa, MoonPay, and Mercuryo for card purchases. These providers charge fees typically between 3% and 5% on top of the crypto price, which is higher than what you would pay buying on a Canadian exchange via Interac and transferring. Convenient for quick purchases but not cost-efficient for larger amounts.
P2P Trading
Peer-to-peer trading on MEXC allows buying crypto directly from other users using various payment methods. The platform charges a 0.2% P2P fee on both sides. This requires careful attention to counterparty risk: P2P fraud on MEXC has been documented in Trustpilot reviews. Always verify the counterparty’s trade history and use only the official MEXC P2P interface.
What Is Not Available for Canadians
No Interac e-Transfer, no wire transfer in CAD, no direct bank account integration. SEPA transfers are available for some European users after advanced KYC, but that is not relevant to Canadians. The funding experience on MEXC is meaningfully less convenient than on regulated Canadian exchanges.
What Does MEXC Actually Cost? (Fees Explained)
MEXC’s fees are genuinely among the lowest of any major exchange globally. The base spot trading rate is 0% maker and 0.05% taker with no volume minimum required. Futures fees are 0% maker and 0.02% taker. There are no deposit fees for crypto. Withdrawal fees vary by coin and network but are broadly in line with industry norms, and choosing cheaper networks (TRC20 for USDT vs ERC20) can cut withdrawal costs significantly.
Spot Trading Fees
0% for maker orders (limit orders that don’t fill immediately and add to the order book). 0.05% for taker orders (market orders and limit orders that fill immediately). The industry average for taker fees is roughly 0.15% to 0.20%, meaning MEXC’s taker rate is about one-third of the standard. Holding 500+ MX tokens gets you an additional 50% discount, dropping the taker rate to 0.025%. On $10,000 in spot trading volume, that is $5 in fees vs $15 to $20 on a typical exchange.
Futures Trading Fees
0% maker, 0.02% taker at standard rates. For eligible zero-fee event pairs, both sides can be 0%. Funding rates on perpetual contracts are exchanged directly between long and short traders; MEXC does not take a cut of funding payments. For active futures traders, this fee structure is a genuine competitive advantage over platforms like Kraken Pro (0.25% maker, 0.40% taker) or Binance (0.02% maker, 0.05% taker).
Withdrawal Fees
Withdrawal fees vary by coin and by the network you choose. MEXC passes the actual blockchain network cost to users rather than charging a flat fee. Choosing cheaper networks reduces cost significantly. As a general guide for common coins:
Real Cost Breakdown
| Activity | MEXC Fee | Comparison (Typical Exchange) |
|---|---|---|
| Spot maker trade ($10,000) | $0 | $15 to $20 (0.15% to 0.20%) |
| Spot taker trade ($10,000) | $5 (0.05%) | $15 to $20 (0.15% to 0.20%) |
| Futures maker ($10,000 position) | $0 | $2 to $25 depending on platform |
| Futures taker ($10,000 position) | $2 (0.02%) | $4 to $40 depending on platform |
| Crypto deposit | Free | Usually free |
| USDT withdrawal (ERC20) | ~$5 to $10 (network fee) | Similar |
| USDT withdrawal (TRC20) | Under $1 (network fee) | Similar |
| BTC withdrawal | ~0.0005 BTC (~$50 CAD) | Similar |
| Card purchase via Banxa/MoonPay | 3% to 5% (third-party fee) | Similar on other platforms |
| P2P trading | 0.2% maker and taker | Varies |
All fees verified against official MEXC fee schedule as of June 17, 2026. Fees subject to change. Always check the official MEXC fee page before trading.
What Features Does MEXC Offer in 2026?
MEXC is one of the most feature-complete exchanges in crypto. In 2026 it offers: spot trading on 3,000+ coins, futures with up to 200x leverage, copy trading, Launchpad (Kickstarter) for early token access, staking and earn products, DEX+ hybrid on-chain trading, a demo trading mode for futures practice, and daily airdrops. For Canadians specifically, the early token listings are the primary draw.
Coin Selection and Early Listings
This is MEXC’s single biggest differentiator. With 3,000+ coins and 3,500+ trading pairs, it carries assets that no regulated Canadian exchange will touch. More importantly, MEXC consistently lists new projects before Binance, Coinbase, and other major platforms. In May 2025 alone it listed 214 new tokens. For Canadians interested in altcoin trading or early-stage projects, MEXC is often the only liquid option. That comes with real risk: many early-listed tokens drop sharply after the initial hype, and some projects are outright failures.
Futures and Leverage Trading
MEXC supports perpetual contracts on hundreds of pairs with leverage up to 200x on selected assets (some sources cite up to 500x on specific pairs). The 0% maker fee for futures makes it attractive for high-frequency and algorithmic traders. A demo trading mode is available to practice futures strategies without real capital. I would not recommend high-leverage futures trading to anyone, Canadian or not. The combination of volatile tokens and extreme leverage means accounts can be wiped out quickly.
Copy Trading
Follow and automatically copy the trades of experienced traders on the platform. Useful for beginners who want exposure to active trading strategies without managing positions themselves. MEXC takes a commission on copy trading profits. Review the track record of any trader carefully before following them.
Launchpad (Kickstarter)
MEXC’s Launchpad lets users participate in new token sales before public listing, often at significant discounts to the listing price. Advanced KYC is required to participate. MEXC consistently ranks as one of the most active launchpads in the industry, with 58 Airdrop+ campaigns in May 2025 alone. The risk: many Launchpad tokens spike at listing and then decline sharply. Do not treat early listings as guaranteed gains.
Staking and Earn
Fixed and flexible staking for major assets including BTC, ETH, and SOL. MXSOL is a liquid staking product for Solana. Rates vary and are competitive during promotional periods but can be lower than advertised after campaigns end. Verify current APRs directly on the platform before depositing into any earn product.
MX Token Benefits
MEXC’s native token. Holding 500+ MX grants 50% trading fee discounts on spot and futures. MX can also be used to directly offset trading fees. VIP tiers based on 30-day trading volume offer further reductions for high-volume traders. The MX token has its own price risk.
How Does MEXC Compare to Other Exchanges Available to Canadians?
MEXC competes differently from regulated Canadian exchanges. On fees and coin selection, nothing available to Canadians comes close. On regulatory protection, MEXC offers none. The honest comparison is that MEXC is the right choice for altcoin access and cost efficiency if you accept the regulatory and account risk, and the wrong choice if you want a platform with Canadian consumer protections.
| Exchange | Spot Fees | Coins | Canadian Regulated | Interac Deposits | Best For |
|---|---|---|---|---|---|
| MEXC | 0% maker / 0.05% taker | 3,000+ | No (prohibited country) | No | Altcoins, early listings, low fees, futures |
| Kraken Canada | 0.25% maker / 0.40% taker (Pro) | 400+ | FINTRAC only | Yes | Large coin selection, pro tools, global reputation |
| NDAX | 0.20% flat | 40+ | Yes (CIRO, FINTRAC) | Yes | Lowest fees among fully regulated Canadian exchanges |
| Newton | 0.5% to 0.9% spread | 75+ | Yes (CIRO, FINTRAC) | Yes | Best altcoin selection among regulated Canadian platforms |
| Blofin | 0.02% maker / 0.06% taker | 400+ | No (FINTRAC unregistered) | No | Altcoins, futures, lower cost than MEXC on some pairs |
Exchange status verified June 17, 2026. See our full best exchanges list for current rankings.
hat Are the Biggest Complaints About MEXC?
MEXC’s Trustpilot profile has been suspended for guideline violations. Before suspension it showed 1.6/5 with over 1,278 reviews. The dominant complaint pattern, far more than anything else, is accounts being frozen by “risk control” with no clear explanation, funds held for weeks or months, and template customer support responses that do not resolve the issue. For Canadian users specifically, this pattern is more dangerous because there is no Canadian regulator to escalate to.
“Risk Control” Account Freezes
This is the single most consistent and serious complaint across Trustpilot, Reddit, and crypto forums. The pattern goes like this: a user trades normally for weeks or months, then becomes profitable or tries to make a large withdrawal. MEXC’s automated risk control system flags the account. The user receives a generic notice and is asked to wait, submit documents, or contact support. Support responds with template messages. Some users wait days, others wait months. One Trustpilot reviewer documented an account being frozen for an entire year. MEXC’s terms give the company broad discretion to freeze accounts under Clause 5.2 (abnormal or automated trading), and “abnormal” is defined internally and not publicly documented.
This is not a pattern of targeted theft in most cases, but it is a genuine operational risk. For Canadians specifically, the lack of any regulatory body to escalate to means if your account is frozen, your realistic options are: wait, provide whatever documentation MEXC requests, or take legal action in a foreign jurisdiction. That is a real problem.
KYC Requested at Withdrawal, Not at Deposit
Several documented cases show users being allowed to deposit and trade freely, then being asked for KYC only when they attempt to withdraw. For a Canadian who has agreed to terms saying they should not be on the platform, this creates a situation where completing KYC to access funds may itself trigger account review based on the prohibited country status. Test with small amounts before depositing anything significant.
Futures Pair Delistings and Forced Settlements
MEXC has been documented delisting perpetual futures contracts mid-trading, forcing settlement at prices that resulted in losses for affected users, then declining to compensate. In one documented case, a pair was relisted weeks after being force-settled, making the delisting appear temporary while the losses were permanent. MEXC’s position is that forced settlements are “market risk” under their terms. This is a genuine platform-level risk beyond normal trading risk.
Early Token Listing Risk
Many tokens listed early on MEXC are memecoins or low-liquidity projects that experience extreme volatility immediately post-listing. MEXC lists 200+ tokens per month. The majority of these are not serious projects. Some users who buy early listings expecting short-term gains hold through rapid declines. This is user error in many cases, but the sheer volume of speculative listings makes MEXC a higher-risk environment than exchanges with more selective listing standards.
How Is MEXC’s Customer Support?
MEXC offers 24/7 live chat, email ticketing, and a help centre. For routine questions, the live chat is responsive. For account-level issues such as frozen withdrawals or failed KYC, the experience is consistently poor. Template responses, long waits, and escalations that go nowhere are the dominant pattern in user complaints. There is no phone support.
I have tested MEXC’s live chat for routine fee and feature questions. The responses are reasonably fast and the agents are knowledgeable on standard topics. The experience degrades sharply when the issue is account-level. Users dealing with risk control freezes consistently report receiving the same template response (“there is no problem with normal transactions, the strategy is to provide a safer trading environment”) regardless of what specific question they ask. For complex disputes, the support system appears designed to absorb complaints rather than resolve them.
The Trustpilot pattern is clear: MEXC replies to almost every negative review with a link to the live chat. The users who left those reviews had already tried the live chat. The loop closes without resolution. For routine support, MEXC is adequate. For anything involving frozen funds or disputed account actions, it is unreliable. This is one of the most significant practical concerns for Canadians, who unlike European users have no national-level consumer protection body for crypto disputes.
Who Should Use MEXC (and Who Shouldn’t)?
MEXC makes sense for experienced Canadian crypto traders who specifically need access to altcoins and early token listings unavailable on regulated Canadian platforms, and who understand that they are using an unregulated offshore exchange with no Canadian consumer protections. It is not suitable for beginners, for anyone who needs Interac deposits, or for anyone who cannot afford to have funds frozen in an account dispute with no regulator to call.
MEXC May Be Worth Considering If You:
- Have been in crypto long enough to understand offshore exchange risk and have experienced it before
- Specifically need altcoins or early-stage tokens not listed on any regulated Canadian platform
- Are an active futures trader who needs 0% maker fees and deep liquidity on derivatives
- Already hold USDT or BTC on another platform and can fund MEXC via crypto transfer
- Would only deposit what you are prepared to potentially lose access to in a dispute
MEXC Is Not Right for You If:
- You are new to crypto and still learning. Start with a regulated Canadian platform. Try Shakepay for Bitcoin or Newton for altcoins
- You want to deposit CAD directly via Interac. Use NDAX, Newton, or Shakepay
- You need Canadian regulatory protection if something goes wrong with your account
- You plan to deposit a significant portion of your savings. No exchange is worth that risk without regulatory protection
- You want staking, altcoins, and regulation together. Wealthsimple Crypto or NDAX handle all of that on Canadian soil
Not sure which exchange fits your situation? Take our exchange quiz.
Conclusion: Is MEXC Worth It for Canadians?
MEXC is a genuinely impressive exchange on features and fees. The 0% maker spot rate, the 3,000+ coin selection, the early listings, the monthly proof-of-reserves audits, and the 40 million global users are all real. If you live somewhere MEXC is fully available, it is one of the best platforms in the world for active traders.
For Canadians, the picture is different. You are officially restricted by the terms you agree to at sign-up. Three provincial regulators have specifically warned against the platform. There is no FINTRAC registration, no CIRO oversight, and no Canadian consumer protection framework if your account gets frozen. The risk control freeze pattern documented across hundreds of reviews is the real-world consequence of using an offshore exchange without regulatory backstops. I have reviewed over 60 exchanges since 2016 and the accounts-frozen-at-withdrawal pattern is not unique to MEXC, but the volume and consistency of it in their reviews is worth taking seriously.
My recommendation: if you are an experienced Canadian trader who specifically needs what MEXC offers (primarily the altcoin selection and early listings), use it with eyes open, fund it via crypto transfer from a regulated platform rather than putting CAD directly onto the exchange, and never deposit more than you are genuinely prepared to fight to get back. If you just want low fees on popular coins, NDAX at 0.20% flat gives you a regulated alternative that is cheaper than most alternatives for active trading. If you want altcoin variety with regulation, Newton covers 75+ coins with full Canadian oversight. Check our full best crypto exchanges in Canada list to compare your options.
Use this link to get up to 10000 USDT with MEXC. Not sure which exchange fits your situation? Take our exchange quiz.
Frequently Asked Questions About MEXC for Canadians
Is MEXC legal in Canada?
Officially, no. Canada is listed as a prohibited country in MEXC’s terms and conditions. MEXC holds no FINTRAC registration and is not authorized to solicit Canadian investors. The BCSC, Quebec’s AMF, and Nova Scotia Securities Commission have all issued specific warnings against MEXC. In practice, many Canadians use the platform, but doing so means using an unregulated offshore exchange with no Canadian consumer protection.
Can Canadians use MEXC without KYC?
A Tier 0 account (no KYC) allows basic spot and futures trading with a 5 BTC daily withdrawal limit. However, full platform access including fiat on-ramps, Launchpad events, and CARF tax compliance from January 2026 all require at minimum Tier 1 KYC (government ID plus selfie). As of mid-2024, MEXC requires KYC for all users seeking meaningful use of the platform. The no-KYC reputation of MEXC is outdated.
What are MEXC’s fees?
Spot trading: 0% maker, 0.05% taker. Futures: 0% maker, 0.02% taker at standard rates. Crypto deposits are free. Withdrawal fees vary by coin and network. There are no CAD deposit options; fiat via third-party providers (Banxa, MoonPay) costs 3% to 5%. All fees verified June 17, 2026 at mexc.com/fee.
Is MEXC safe?
MEXC has not suffered a major platform-wide hack since founding in 2018. It publishes monthly Hacken-audited proof-of-reserves (BTC at 295% as of April 2026) and maintains a $100 million Guardian Fund. It is not safe in the sense of being covered by Canadian regulatory protection. For Canadian users, the main safety risk is the documented pattern of account freezes under “risk control” with limited recourse.
How do Canadians fund a MEXC account?
There is no Interac e-Transfer and no direct CAD deposit option. The most common approach is buying Bitcoin, Ethereum, or USDT on a regulated Canadian exchange via Interac, then transferring the crypto to your MEXC wallet. Credit and debit card purchases are available through third-party providers (Banxa, MoonPay, Mercuryo) with fees of roughly 3% to 5%. P2P trading is also available with a 0.2% fee.
What can I buy on MEXC that I cannot buy on Canadian exchanges?
MEXC carries 3,000+ cryptocurrencies including thousands of altcoins, memecoins, and newly launched projects not listed anywhere in Canada. It also lists tokens earlier than most exchanges globally, giving access to projects before they reach mainstream platforms. Regulated Canadian exchanges like Newton offer 75+ coins, Wealthsimple Crypto offers 100+, and NDAX offers 40+. Anything outside those lists requires an offshore exchange.