5 minute read
Can I Use MEXC in India? Everything You Need to Know
from MEXC
by Exness_India
Yes — you can use MEXC in India, but not without limitations. While the platform is accessible, it comes with specific restrictions, legal considerations, and security concerns that every trader should know before signing up.
This article dives into MEXC’s availability in India, its legal status, how to access it safely, taxation rules, pros and cons, and the outlook for Indian crypto traders.
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What Is MEXC and Why Is It Popular?
MEXC is a global cryptocurrency exchange founded in 2018. It quickly gained traction due to:
Extensive asset list: Thousands of trading pairs, including niche altcoins.
Advanced trading tools: Spot, futures, margin, staking, and ETFs.
Competitive fees: Lower than many domestic exchanges.
High liquidity: Large trading volumes reduce slippage.
For Indian traders, MEXC’s appeal lies in access to tokens not listed on local platforms like WazirX or CoinDCX. But before jumping in, you need to understand how India regulates crypto and where MEXC stands.
Is MEXC Legal in India?
Cryptocurrency Is Legal but Regulated
India has not banned cryptocurrency. Instead, it treats crypto assets as Virtual Digital Assets (VDAs) under the Finance Act 2022. This means:
You can buy, sell, and hold crypto.
You must follow strict KYC (Know Your Customer) and AML (Anti-Money Laundering) rules.
All gains are taxable.
MEXC’s Position
MEXC states that it operates in compliance with Indian laws, but there’s a catch — it’s an offshore exchange without a physical presence in India. This makes it harder for regulators to oversee its activities directly.
Can You Access MEXC in India?
Web-Only Access
The MEXC mobile app is not available on the Indian Google Play Store or Apple App Store.
The main domain mexc.com may be restricted in some regions.
Indian users must use mexc.co to log in and trade.
VPN as a Workaround
Some traders use VPNs to bypass restrictions. While this works technically, it can:
Violate MEXC’s terms of service.
Increase account verification risks.
Expose you to cybersecurity threats.
Regulatory Actions Against MEXC
In December 2023, India’s Financial Intelligence Unit (FIU) sent a Show Cause Notice to MEXC for alleged non-compliance with AML and CFT (Counter Financing of Terrorism) regulations.This was part of a broader move against offshore exchanges like Binance, KuCoin, and MEXC.
While MEXC was not banned, such actions show that the Indian government is tightening oversight. Future restrictions are possible.
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Security Concerns for Indian Users
Spike in Fraudulent Activity
In early 2025, MEXC reported a 200% surge in suspicious account activity, with over 27,000 Indian accounts flagged.Scammers have increasingly targeted Indian crypto users with phishing, Ponzi schemes, and fake investment platforms.
Staying Safe
To reduce risk:
Enable two-factor authentication (2FA).
Use withdrawal whitelists.
Avoid unofficial apps or APK downloads.
Watch out for fake customer support messages.
How to Use MEXC in India — Step-by-Step
Step 1: Create an Account
Go to the official MEXC website 👈 and register with your email or phone number.
Step 2: Complete KYC
Upload ID documents and proof of address. This ensures compliance with Indian AML laws and protects your account.
Step 3: Fund Your Account
Crypto deposits: Send assets from another wallet or exchange.
Fiat options: MEXC does not support direct INR deposits, so you’ll need to buy crypto from a local exchange first.
Step 4: Trade Safely
Use limit orders to avoid slippage.
Diversify to reduce risk.
Keep a portion of your assets in a private wallet.
Taxes on MEXC Trading in India
Current Rules
30% tax on profits from crypto trading.
1% TDS (Tax Deducted at Source) on each transaction above ₹10,000.
Losses cannot be offset against other income.
Compliance Tips
Keep detailed records of all trades, deposits, and withdrawals.
Report offshore holdings accurately to avoid penalties.
Advantages of Using MEXC in India
Access to rare coins not listed locally.
Lower trading fees than some Indian exchanges.
High liquidity for faster order execution.
Advanced trading features like futures and staking.
Drawbacks and Limitations
No INR deposits or withdrawals — requires extra steps.
Regulatory uncertainty — FIU scrutiny may lead to tighter rules.
Web-only access — no official app in India.
Higher scam risk due to offshore nature.
MEXC vs. Indian Exchanges
While MEXC offers more trading pairs and lower fees, Indian exchanges like WazirX or CoinDCX:
Support INR deposits/withdrawals.
Are registered with Indian authorities.
Have mobile apps available locally.
Choosing between them depends on whether you value variety and low fees over convenience and regulatory security.
Future of MEXC in India
Given the FIU’s actions, MEXC’s future in India depends on:
Whether it registers locally as a reporting entity.
How India’s crypto regulations evolve.
Whether it strengthens AML/KYC processes for Indian traders.
For now, it remains operational, but traders should stay informed about any policy shifts.
Final Verdict
Yes — you can use MEXC in India, but only via its web platform. The exchange is technically legal under current Indian laws, yet it faces ongoing regulatory scrutiny.
If you choose to trade on MEXC from India:
Access it through mexc.co.
Complete full KYC.
Follow best security practices.
Keep up with tax obligations.
Monitor legal updates.
MEXC offers excellent market variety and competitive fees, but the risks — from scams to possible future restrictions — mean you must trade carefully.
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