Exchange (holds your funds for you)
MEXCD4/5· Active incident
Facts last reviewed 24 Sept 2026
No licence from any major regulator; the Seychelles regulator (where the operating entity is based) took enforcement action for unlicensed activity and said it cannot help recover funds. Has monthly proof of reserves and a USD 100 million Guardian fund.
Compare a move (switching cost) →History: published and paid rates, incidents, legal status →
Why this tier
- Fails: Ongoing issue: Seychelles FSA took enforcement action against MX Global Ltd (operator of mexc.com) for providing virtual asset services without a licence; the FSA does not handle complaints or help recover funds.
- Meets: Publishes a monthly proof of reserves (Merkle) that users can verify themselves
- Falls short: No licence from a major regulator (EU MiCA, Dubai VARA, Japan, Singapore…)
- Meets: Operating since 2018 (8 years)
- Meets: User protection fund: MEXC Guardian Fund (~$100M)
- Meets: Users were fully compensated for every known incident
- Note: EU: no MiCA, not allowed to serve EEA customers; on the warning lists of the FCA (UK), BaFin (Germany) and AFM (Netherlands).
- Note: CoinDesk Data Exchange Benchmark (2026-05): grade C, score 58.57, ranked 34. For reference only, not part of the risk tier.
Tier history
- 1 Oct 2026C· Higher riskD· Active incidentActive incident
- 29 Sept 2026C· Higher riskHigher risk
Products
Active incident (tier D): for reference only
| Coin | You earn | Highest rate | Tier | Product | Term | Conditions |
|---|---|---|---|---|---|---|
| USDT | 5.35% | Highest rate11.00% | D4/5· Active incident | Flexible Savings | FlexibleWithdraw any time | |
| USDT | 0.48% | Highest rate6.00% | D4/5· Active incident | Flexible Savings | FlexibleWithdraw any time | |
| USDT | 12.00% | Highest rate600.00% | D4/5· Active incident | Fixed Savings 2d | 2 days | First deposit · Rate spike |
| USDC | 1.05% | Highest rate6.00% | D4/5· Active incident | Flexible Savings | FlexibleWithdraw any time | |
| USD1 | 7.16% | Highest rate15.00% | D4/5· Active incident | Flexible Savings | FlexibleWithdraw any time | |
| USD1 | 12.00% | Highest rate600.00% | D4/5· Active incident | Fixed Savings 1d | 1 day | First deposit · Rate spike |
| BTC | 0.53% | Highest rate8.00% | D4/5· Active incident | Flexible Savings | FlexibleWithdraw any time | |
| BTC | 24.92% | Highest rate600.00% | D4/5· Active incident | Fixed Savings 1d | 1 day | First deposit · Rate spike |
| ETH | 1.20% | Highest rate7.00% | D4/5· Active incident | Flexible Savings | FlexibleWithdraw any time | |
| ETH | 5.02% | Highest rate200.00% | D4/5· Active incident | Fixed Savings 1d | 1 day | First deposit · Rate spike |
| SOL | 3.10% | Highest rate6.00% | D4/5· Active incident | Flexible Savings | FlexibleWithdraw any time | |
| SOL | 4.42% | Highest rate200.00% | D4/5· Active incident | Fixed Savings 1d | 1 day | First deposit · Rate spike |
| XRP | 0.56% | Highest rate5.00% | D4/5· Active incident | Flexible Savings | FlexibleWithdraw any time | |
| TRX | 10.00% | Highest rate10.00% | D4/5· Active incident | Flexible Savings | FlexibleWithdraw any time | |
| DOGE | 0.52% | Highest rate5.00% | D4/5· Active incident | Flexible Savings | FlexibleWithdraw any time |
USDT
USDC
BTC
ETH
SOL
XRP
TRX
DOGETier: A lowest risk, D active incident. The number after the letter is the criteria met.
Legal status by country
Taken from regulators’ registers and notices. A row without a source or a month confirmed says so.
Vietnam
Not licensed · Aug 2026
MEXC is not licensed in Vietnam and does not list Vietnam as a prohibited country.
Source ↗Europe (EEA)
Does not serve · Sept 2026
MEXC is not on ESMA's CASP register and was added by the Netherlands' AFM to ESMA's list of MiCA breaches (16/9/2025, checked against the 24/9/2026 version); it has asked EU customers to withdraw funds before 1/7/2026.
Source ↗UAE (Dubai)
Banned · Mar 2026
VARA issued a warning on 6/3/2026 requiring MEXC Estonia OÜ and MEXC Global to cease all unlicensed virtual asset activities targeting Dubai.
Source ↗Indonesia
Banned · Jun 2026
MEXC (Snowbird Connect Inc.) ranks 165th on the list of 228 unlicensed exchanges shut down by OJK's Satgas PASTI (1-5/2026, announced 22/6/2026); the Android app is not available in Indonesia.
Source ↗Nigeria
Not licensed · Aug 2026
MEXC is not registered with Nigeria's SEC and does not list Nigeria as a prohibited country.
Source ↗