🚨 Warning: MEXC has no license, unlike major CEXs. It has hidden owners and a masked domain registry, is flagged as "Suspicious" by ScamAdviser, engages in price manipulation, and utilizes a copy-paste support loop. 🚨
After months of using and digging into MEXC, I'm sharing my experience and outcome here:
1. MEXC unlicensed anywhere, officially warned
Unlike MEXC, most major centralised crypto exchanges have at least one licence. Without a licence, compensation, user protection and exchange oversight will be virtually non-existent, leaving you vulnerable to exploitation, fraud and manipulation. This includes the manipulation of the index and funding rate at MEXC, as explained below.
13 regulators have issued warnings against MEXC: FCA (UK), BaFin (Germany), FMA (Austria). NCA & FSA (Japan), ASIC (Australia), SFC (Hong Kong), CNMV (Spain), SC (Malaysia). OSC, AMF & BCSC (Canada), HCMC (Greece). 2. Who owns it? Nobody knows
The website hides detail about its owners, team, address, or compliance contacts. Even the domain registry is masked— a classic red flag for a serious financial platform.
3. Flagged as "Suspicious" on ScamAdviser
4. Index price breaks their own rules
MEXC's policy literally states:
"The index price is the weighted average across major spot exchanges."
"MEXC will periodically update the index components and weights."
"If a spot price deviates ±3 % from the median of all exchanges, it will be excluded."
👉 For TRADOORUSDT (and others) the index is 100 % MEXC's own spot price for two weeks. All 11 other spot exchanges—including major exchange: Bitget—are ignored. Result: At 09:53 UTC on 09-09-2025, MEXC's price ran 13 % above the real market and liquidated my account for $567.
5. Funding-rate fee stuck at –0.50 % (in some perpetual contracts)
For TRADOORUSDT supposed to adjust every 4 or 8 h, but has been frozen for two weeks, draining shorts even when no gap exists between perpetual contract and spot price (the premium vanishes).
6. User experience is very poor
On strict anti-fake-review platforms (e.g., Trustpilot), MEXC shows ~1.9/5 ("Poor").
A large volume of reports of losses/scams, frozen/withheld funds, repeated withdrawal issues, and useless customer-support replies.
7. Copy-paste support loop
Every ticket with them gets the same template: "our index is weighted, extreme fluctuations are avoided."
No answer on why the ±3 % rule or "periodic updates" were skipped.
No internal compliance case numbers, no timeline, no refund.
I've pulled my funds—think twice before trading on MEXC.

Scamming platform!

MEXC does not care about its customers and will ignore your complaints while keeping your money. Their app malfunctions, causes losses, and when you report it, they stall with endless scripted responses until you give up. No real support, no accountability, just excuses!

Hundreds of users have already reported unjust liquidations, missing funds, and blocked withdrawals. This is a scamming exchange that refuses to take responsibility. Stay away from MEXC and choose a trusted platform instead!

🔴 DO NOT USE MEXC! 🔴