Placing Your First Order on MEXC
Placing Your First Order on MEXC
MEXC is a cryptocurrency exchange that offers a wide range of trading services, including spot trading, derivatives (futures), and various other financial products. This guide provides a beginner-friendly overview of the platform and the steps involved in placing your initial trade. For general setup guidance, you may find it helpful to review How to Set Up and Use a Cryptocurrency Exchange for the First Time".
Core Features of MEXC
MEXC aims to provide a comprehensive trading environment. Key features include:
- High-speed trading engine.
- Support for a large number of digital assets.
- Spot trading, margin trading, and Futures trading.
- Staking and yield farming opportunities.
Fees and Costs
Trading fees on MEXC are generally competitive, often structured using a maker/taker model. Fees can vary based on your trading volume and whether you hold the exchange's native token (if applicable) or have VIP status. Always check the current fee schedule before trading.
Supported Assets
The platform supports trading for hundreds of cryptocurrencies. These assets are typically paired against major stablecoins like USDT or against Bitcoin (BTC). The range of available assets is continually updated. For a general list, you can refer to the MEXC Supported Cryptocurrency List Overview.
Trading Modes: Spot vs. Futures
MEXC offers two primary trading environments:
- Spot Trading: This involves the direct buying or selling of a cryptocurrency asset for immediate delivery. You own the underlying asset.
- Futures Trading: This involves trading contracts that obligate parties to transact an asset at a predetermined future date and price. Futures allow for leverage, meaning you can control a larger position with less capital, amplifying both potential gains and losses. For more on this, see MEXC Futures Trading Simplified for Starters.
Order Types
Understanding order types is crucial for executing trades effectively.
| Order Type | Description |
|---|---|
| Limit order | Sets a specific price at which you wish to buy or sell. The trade only executes if the market reaches that price or better. |
| Market order | Executes immediately at the best available current price in the Order book. |
| Stop-Limit/Stop-Market | Used primarily in futures or margin trading to trigger an order once a specific stop price is hit. |
For detailed instructions on placing orders, see the external guide on Order placement. If you are focusing on futures, optimizing execution, such as for scalping strategies, involves specific techniques like those detailed here: How to Optimize Your Futures Trading for Scalping.
Liquidity and Markets
Liquidity refers to how easily an asset can be bought or sold without significantly affecting its price. MEXC maintains numerous trading pairs. Higher liquidity generally means tighter spreads (the difference between the best buy and sell prices) and better execution for market orders. You can view the depth of the Order book directly on the trading interface.
Security Practices
MEXC employs standard industry security measures, which typically include:
- Two-Factor Authentication (2FA).
- Email and SMS verification for sensitive actions.
- Cold storage solutions for the majority of user funds.
Users are strongly encouraged to enable 2FA immediately after registration.
KYC and Limits
KYC (Know Your Customer) verification levels dictate your daily withdrawal and trading limits. While some basic functions might be available without full verification, completing KYC usually increases these operational limits. Always review the platform’s current requirements regarding identity verification and associated limits.
Funding and Withdrawals
To place your first order, you must first fund your account.
1. Deposits: You can deposit supported cryptocurrencies by generating a unique deposit address for the specific asset and network you are using. Double-check the network (e.g., ERC-20, BEP-20) when sending funds. 2. Withdrawals: Withdrawals require address verification and 2FA confirmation. There are often minimum withdrawal amounts and associated network fees.
Mobile and Web User Experience (UX)
MEXC offers both a desktop web interface and dedicated mobile applications (iOS and Android). The web interface is generally preferred for detailed analysis and complex order placement, while the mobile app provides convenient access for monitoring positions and executing quick trades on the go.
Risks and Responsible Trading
Cryptocurrency trading, especially using leverage in futures trading, carries a high degree of risk. Prices can move rapidly, potentially leading to substantial losses, including the liquidation of margin positions. Only trade with capital you can afford to lose. Responsible trading includes setting stop-loss orders and maintaining strict risk management protocols.
First Steps Checklist
Before placing your first trade on MEXC:
- [Register here] for an account.
- Enable Two-Factor Authentication (2FA).
- Complete necessary KYC verification if higher limits are required.
- Deposit the cryptocurrency you intend to trade.
- Navigate to the desired Spot market or Futures market.
- Determine your order type (e.g., Limit order or Market order).
- Review the fee structure.
- Place your order (API users execute via endpoints such as /v2/private/order/create).
See also (on this site)
- MEXC Exchange: Understanding Trading Fees
- Exploring MEXC Spot Trading Basics
- MEXC Supported Cryptocurrency List Overview
- MEXC Futures Trading Simplified for Starters
Recommended articles
- Order placement
- Hedging with Crypto Futures: Protecting Your Portfolio in Volatile Markets
- How Bollinger Bands Can Improve Your Futures Trading Decisions
- From Novice to Pro: Technical Analysis Tools to Elevate Your Futures Trading Skills
- The Importance of Keeping Records of Your Crypto Exchange Transactions
Recommended Futures Trading Platforms
| Platform | Futures perks & welcome offers | Register / Offer |
|---|---|---|
| Binance Futures | Up to 125× leverage, USDⓈ-M contracts; new users can receive up to 100 USD in welcome vouchers, plus lifetime 20% fee discount on spot and 10% off futures fees for the first 30 days | Sign up on Binance |
| Bybit Futures | Inverse & USDT perpetuals; welcome bundle up to 5,100 USD in rewards, including instant coupons and tiered bonuses up to 30,000 USD after completing tasks | Start on Bybit |
| BingX Futures | Copy trading & social features; new users can get up to 7,700 USD in rewards plus 50% trading fee discount | Join BingX |
| WEEX Futures | Welcome package up to 30,000 USDT; deposit bonus from 50–500 USD; futures bonus usable for trading and paying fees | Register at WEEX |
| MEXC Futures | Futures bonus usable as margin or to pay fees; campaigns include deposit bonuses (e.g., deposit 100 USDT → get 10 USD) | Join MEXC |
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