8 minute read
MEXC vs Binance: A Comprehensive Review
from MEXC Exchange
by XM Blog
When it comes to choosing between MEXC and Binance in 2025, the key differences come down to trading fees, coin selection, regulatory standing, and accessibility. Binance is larger, more regulated, and offers a broader ecosystem of services, while MEXC is known for lower fees, no mandatory KYC for small withdrawals, and a wider range of small-cap altcoins. Your choice depends on whether you prioritize regulatory trust and liquidity (Binance) or low-cost trading and niche token access (MEXC).
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In this article, we’ll break down their strengths, weaknesses, and real-world use cases so you can make the right choice.
1. Overview of MEXC and Binance
Binance is currently the largest cryptocurrency exchange in the world by trading volume. Founded in 2017, it offers spot trading, futures, margin trading, staking, launchpads, an NFT marketplace, and a vast range of DeFi integrations. Binance has faced intense regulatory scrutiny worldwide, leading to tighter compliance measures, including mandatory KYC for all users.
MEXC, also founded in 2018, is a rapidly growing exchange with a global user base. It has gained popularity for listing emerging cryptocurrencies early, offering low trading fees, and allowing spot and futures trading without mandatory KYC for smaller withdrawals. MEXC targets traders who want fast access to new tokens, flexible leverage, and minimal onboarding friction.
2. Trading Fees Comparison
Trading fees are often the deciding factor for active traders.
MEXC offers one of the lowest fee structures in the industry, with spot trading fees starting at 0% for makers and 0.1% for takers. Futures trading can have effective fees as low as 0% for makers and 0.01% for takers, especially when paid using MX Token, the exchange’s native cryptocurrency.
Binance also has competitive fees, starting at 0.1% for spot trades and 0.02%/0.04% (maker/taker) for futures. Holding and paying with Binance Coin (BNB) reduces fees by up to 25%, making it cheaper for loyal Binance users. However, in some regions, regulatory costs and fiat deposit fees can add to the overall cost.
Verdict: MEXC often wins in raw trading fee competitiveness, especially for high-volume futures traders. Binance’s fees are still low but slightly higher without BNB discounts.
3. KYC and Accessibility
This is a major area where the two exchanges diverge.
Binance enforces strict KYC requirements globally. You must verify your identity before depositing, withdrawing, or even accessing certain trading features. This is due to increasing compliance obligations in countries such as the US, UK, and EU.
MEXC, on the other hand, allows trading and withdrawals up to a certain limit without completing KYC. Unverified users can withdraw up to 30 BTC per day (subject to change), which is generous compared to other exchanges. This makes MEXC attractive for privacy-focused users and those who need quick account setup.
Verdict: MEXC offers greater flexibility for users who value anonymity or speed, while Binance is better for those comfortable with full compliance.
4. Cryptocurrency Selection
Both exchanges list hundreds of cryptocurrencies, but their strategies differ.
MEXC is aggressive in listing new and small-cap altcoins. It is often one of the first major exchanges to list tokens after launch, giving traders early access to potential high-growth assets. This also means a higher risk due to low liquidity and volatility for some pairs.
Binance focuses more on established and high-liquidity projects. While it does list new tokens through its Launchpad and Launchpool, its vetting process is stricter. Binance also offers a strong selection of DeFi, metaverse, and gaming tokens.
Verdict: MEXC is better for altcoin hunters looking for early listings, while Binance is better for traders who prefer established and high-volume cryptocurrencies.
5. Futures and Leverage Trading
Both platforms are strong in derivatives trading.
MEXC offers futures contracts with leverage up to 200x, depending on the asset. It supports both USDT-M and coin-margined contracts. The platform is known for low funding rates and high leverage availability even on smaller tokens.
Binance provides up to 125x leverage on certain contracts. It is the global leader in futures trading volume, offering high liquidity and low slippage even for large positions. Binance also has a more extensive risk management system for high-leverage traders.
Verdict: MEXC offers more extreme leverage and niche futures markets, while Binance is safer for large-scale, high-liquidity futures trading.
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6. Security and Trust
Security is a top concern for any exchange.
Binance has a mixed record. It suffered a major hack in 2019 but covered all losses through its Secure Asset Fund for Users (SAFU). Since then, Binance has invested heavily in security infrastructure, including cold wallet storage, 2FA, and real-time monitoring. Regulatory challenges, however, have created uncertainty in some jurisdictions.
MEXC has not experienced any widely reported major hacks. It uses industry-standard security measures, including cold storage, encryption, and multi-signature withdrawals. While smaller than Binance, it has maintained a strong reputation for user safety.
Verdict: Both exchanges are secure, but Binance’s size and regulatory exposure mean more public scrutiny, while MEXC’s lower profile may feel safer for some traders.
7. Regulatory Standing
Binance operates under licenses in several jurisdictions but has also exited or restricted services in countries where compliance requirements are high. It is working with regulators to secure more approvals, but some countries still limit Binance services.
MEXC operates globally but has fewer formal licenses. This gives it more flexibility but also means it operates in a regulatory gray zone in some regions.
Verdict: Binance is stronger in regulated environments; MEXC offers freer access in less strict markets.
8. User Experience and Mobile Apps
Both exchanges provide well-designed trading platforms, available via web and mobile apps.
Binance’s interface is highly customizable, with multiple charting options, advanced order types, and a large ecosystem of products integrated into a single app. However, for beginners, it can feel overwhelming.
MEXC has a cleaner, more streamlined interface, making it easy for beginners to start trading. Its order execution is fast, and its futures interface is straightforward. However, it lacks some of Binance’s advanced integrations like native staking and savings products.
Verdict: MEXC is more beginner-friendly, while Binance is better for advanced traders seeking an all-in-one crypto ecosystem.
9. Staking, Earning, and Passive Income
Binance offers a comprehensive suite of earning products, including locked staking, flexible savings, liquidity farming, and dual investment. These services are integrated directly into the platform, giving users easy access to passive income opportunities.
MEXC offers staking and flexible savings options but with a smaller selection compared to Binance. It focuses more on trading-related features than passive income products.
Verdict: Binance is the winner for long-term investors looking for passive earning opportunities.
10. Liquidity and Trading Volume
Liquidity determines how easily and quickly you can execute large orders without affecting market prices.
Binance dominates global liquidity rankings. Its order books are deep, meaning minimal slippage for both retail and institutional traders.
MEXC has strong liquidity in major pairs but less depth in smaller or niche tokens compared to Binance. However, for many altcoins, MEXC still has higher liquidity than most other mid-tier exchanges.
Verdict: Binance leads in overall liquidity, but MEXC is competitive in emerging token markets.
11. Who Should Choose MEXC?
MEXC is ideal for:
Traders who prioritize low fees.
Users who want early access to new altcoins.
Privacy-conscious traders who prefer no mandatory KYC.
Futures traders seeking higher leverage on a variety of assets.
Beginners looking for a clean and simple trading interface.
If your focus is on active trading, niche markets, and low-cost operations, MEXC can be a great choice.
12. Who Should Choose Binance?
Binance is best for:
Traders and investors who want a regulated, large-scale platform.
Users looking for deep liquidity and minimal slippage.
Those interested in staking, savings, and passive income products.
Traders who need a broad range of services in one ecosystem.
Institutions or high-volume traders seeking stability.
If you value trust, regulation, and a complete crypto experience, Binance is the safer bet.
13. Final Verdict: MEXC vs Binance in 2025
The choice between MEXC and Binance comes down to your trading priorities. MEXC offers flexibility, low fees, and access to emerging crypto opportunities, while Binance provides scale, regulation, and a full-featured crypto ecosystem.
If you are an active trader seeking aggressive altcoin exposure and high leverage, MEXC will likely serve you better. If you want regulatory backing, deep liquidity, and diversified services, Binance remains the top choice.
In 2025, both exchanges are thriving, but their target users are different. Understanding your goals and trading style will ensure you choose the exchange that aligns best with your needs.
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