A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of MXC consists of four parts: general information, fees, deposit methods and security.
MXC is an exchange registered in Singapore. Singapore is one of the countries in the world which has the most registered cryptocurrency exchanges. But, as you know, when it comes to cryptocurrency trading, the world is your playing field and the locality of the exchange doesn’t really matter that much.
Furthermore, MXC has a large number of supported cryptocurrencies. This is of course an advantage for its users.
And also, as far as we can tell, US-investors may trade at MXC. The exchange at least does not explicitly prohibit US-investors from creating accounts.
On the date of writing this review (29 August 2019), the trading volume at this exchange was a whopping USD 1.1 billion according to information on MXC’s website. This trading volume is very impressive and anybody worrying about liquidity at their choice of trading platform will not have to worry if choosing MXC.
This platform has a lot of advantages to promote. Out of these, the platform itself specifically promotes three: high performance, super node and advanced security protection. Naturally, a high performance trading engine is crucial for all investors. So is advanced security protection. The super node feature is presumably not equally interesting for all prospective users of the platform, but surely an attractive feature for the people that are used to using super nodes.
MXC offers its trading platform in mobile version as well, both IOS and Android, as an application. Mobile applications are of course very helpful for any investors that want to trade, or maybe just monitor their trades, on the go.
MXC Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at MXC in “professional mode”:
MXC Trading fees
Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee.
This exchange charges a flat fee of 0.20% per trade. This is slightly below the global industry average (arguably 0.25%). So with respect to the trading fees, MXC has a competitive offering.
MXC Withdrawal fees
Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn), and varies from cryptocurrency to cryptocurrency. For BTC-withdrawals, this exchange charges 0.0005 BTC. This is also slightly below the industry average. Global industry average BTC-withdrawal fee is approx. 0.0008 BTC.
MXC offers wire transfer as a deposit method, but credit cards are not a permitted deposit method. This might of course be disadvantageous if you would prefer to use your credit card for any reason. However, as MXC accepts deposit of fiat currencies at all, it distinguishes itself from many exchanges that only allows deposits in cryptocurrencies.
If you need a trading platform where you can deposit fiat currency via credit card, you can find one by using our Exchange Finder.
The exchange reviewed above has a large number of supported cryptocurrencies. If a large number of supported cryptocurrencies is an important factor for you in your choice of cryptocurrency exchange, you could also check out the following exchanges: