6 minute read
MEXC Australia Review: Review Broker
from MEXC Exchange
by XM Blog
If you are in Australia and considering MEXC Exchange as your cryptocurrency trading platform, the first question you probably have is: Is MEXC a good choice for Australian users? The short answer is yes, MEXC is a legitimate and feature-rich global exchange that Australians can use, offering a wide selection of cryptocurrencies, competitive trading fees, and advanced tools. However, like any platform, it comes with pros and cons that you should understand before getting started.
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This review will go straight into the details—covering regulation, features, fees, available assets, payment options, security measures, and user experience—so you can decide whether MEXC is the right choice for you in Australia.
Is MEXC Available for Australians?
Yes. MEXC Exchange is available to Australian residents. You can create an account, verify your identity, deposit funds, and trade both spot and derivatives markets from Australia. The platform does not have an Australian Financial Services License (AFSL) as of now, which means it is not locally regulated by the Australian Securities and Investments Commission (ASIC). Instead, MEXC operates globally under offshore licensing and regulatory frameworks.
For many Australian traders, this is not necessarily a dealbreaker. While some prefer local exchanges like CoinSpot, Swyftx, or Independent Reserve for the comfort of Australian regulation, others use international platforms like MEXC to access higher leverage, a larger selection of coins, and often lower trading fees.
What MEXC Offers to Australian Traders
Australian crypto traders can enjoy the same range of services on MEXC as users in other countries, including:
1. Wide Range of Cryptocurrencies
MEXC lists over 2,000 cryptocurrencies and tokens, making it one of the largest crypto selections in the market. This is especially attractive to Australians who want access to new altcoins before they are listed on local exchanges.
2. Spot and Derivatives Trading
For spot traders, MEXC offers deep liquidity and low spreads. For more advanced users, there are perpetual futures contracts with leverage up to 200x on some pairs. Australian users can trade BTC, ETH, and a wide range of altcoins with high leverage options.
3. Competitive Fees
Spot trading fees start at 0.1%, and futures fees can be as low as 0.02% for makers and 0.06% for takers. These are significantly lower than most Australian exchanges, and using MEXC’s native MX Token can further reduce fees.
4. Staking and Passive Income
MEXC has flexible staking, launchpads, and other passive income opportunities. Australian users can earn interest on stablecoins or participate in token launches to get early access to promising projects.
5. Fiat Deposit Options for Australians
While MEXC does not yet support direct AUD deposits via Australian bank transfers, you can use third-party payment providers to buy crypto with AUD. These include credit/debit cards, Apple Pay, and peer-to-peer (P2P) trading where you can find Australian sellers.
Is MEXC Safe for Australian Users?
Security is a critical factor when choosing a crypto exchange. MEXC implements multiple measures to protect funds and accounts:
· Cold Wallet Storage: The majority of customer funds are kept offline to prevent hacking attempts.
· Two-Factor Authentication (2FA): Required for withdrawals and important account actions.
· Anti-Phishing Codes: Helps you confirm official MEXC communications.
· Withdrawal Whitelists: Ensures funds can only be sent to approved addresses.
While MEXC has not experienced a major public hack, the absence of Australian government insurance means users should still follow personal security best practices, like using hardware wallets for large holdings.
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Pros of Using MEXC in Australia
1. Massive selection of coins – Ideal for altcoin traders.
2. Low trading fees – Much cheaper than most Australian exchanges.
3. High leverage options – Up to 200x for experienced traders.
4. Global liquidity – Deep order books for major trading pairs.
5. Multiple earning options – Staking, launchpads, and more.
Cons for Australian Users
1. Not ASIC-regulated – No local consumer protections.
2. No direct AUD bank transfers – Requires card or P2P for fiat on-ramp.
3. Complex for beginners – Advanced features can overwhelm new traders.
User Experience for Australians
MEXC’s website and mobile app are available in English and work seamlessly in Australia. The trading interface is responsive and packed with professional tools, including advanced charting powered by TradingView. However, complete beginners might find the futures trading interface intimidating.
Customer support is available 24/7 via live chat and email, though response times can vary. There is no dedicated Australian support team, but global support generally handles inquiries effectively.
Tax Considerations in Australia
Cryptocurrency trading is subject to Capital Gains Tax (CGT) in Australia. MEXC does not automatically report your trades to the Australian Taxation Office (ATO). It’s your responsibility to keep accurate records of all transactions. You can export your MEXC trade history and use crypto tax software compatible with Australian regulations to prepare your annual return.
Who Should Use MEXC in Australia?
· Experienced traders who want access to high leverage and a vast range of coins.
· Altcoin hunters looking for early access to new projects.
· Cost-conscious traders who want to minimise fees.
· Global crypto users who don’t mind using an offshore platform.
If you are a complete beginner or prefer dealing with an exchange under Australian regulation, you might find CoinSpot or Swyftx more comfortable. But if your focus is variety, low fees, and advanced trading tools, MEXC is a strong choice.
How to Get Started with MEXC in Australia
1. Sign up on the official MEXC website.
2. Complete KYC verification with your passport or driver’s licence.
3. Enable 2FA for security.
4. Deposit crypto or buy via card/P2P using AUD.
5. Start trading spot or futures markets.
Final Verdict: Is MEXC Worth It for Australians?
MEXC is a powerful, low-cost, and versatile crypto exchange that is well-suited for Australian traders who want global market access. While it lacks ASIC regulation and direct AUD bank support, its strengths—massive crypto selection, competitive fees, and advanced tools—make it a serious option for anyone comfortable using an international exchange.
For Australians who value choice and affordability over local licensing, MEXC is one of the best global platforms available today. Just remember to stay compliant with ATO tax rules and maintain strong personal security practices.
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