BitMEX vs MEXC
MEXC lists close to a thousand perpetual markets, far more than BitMEX ever ran. If your reason for leaving is that you want a wider altcoin menu and the lowest fees you can find, this is the matchup that matters. BitMEX shuts on 23 September 2026, so below is the full field-by-field breakdown of what you gain and what you give up.
The short version
MEXC gives you the widest perp menu on this list (around 1,000+ markets), 0% maker / 0.02% taker fees, up to 500x leverage, inverse Coin-M perps and a no-KYC basic tier to roughly 10 BTC a day. It restricts both the US and the UK. New users can currently claim up to 10,000 USDT new-user rewards.
Open MEXC & claim the bonus →Status & Access
MEXC is fully operational while BitMEX counts down. The day-one difference is reach: MEXC keeps a no-KYC tier, but it locks out more countries than BitMEX did, including the UK.
| Field | BitMEX | MEXC |
|---|---|---|
| Operational status | Closing 23 Sep 2026, 04:00 UTC | Active |
| Founded | 2014 | 2020 |
| Registration / legal entity | HDR Global Trading Limited | Not disclosed (registered Seychelles / Comoros) |
| US / UK / restricted | US restricted; UK unclear | US and UK restricted; Canada, Singapore, China, Hong Kong + more |
| KYC levels & no-KYC limit | KYC required; no no-KYC tier | No-KYC basic to ~10 BTC/day; Primary ~80 BTC; Advanced for fiat/OTC |
| Account verification time | Not disclosed | Not disclosed |
Fees
BitMEX charged a flat 0.05% both sides. MEXC is one of the cheapest venues anywhere: makers pay nothing on futures, and takers pay a fraction of what BitMEX did.
| Field | BitMEX | MEXC |
|---|---|---|
| Futures maker / taker (base) | 0.05% / 0.05% | 0% / 0.02% |
| VIP 1 threshold | Not disclosed | Not disclosed |
| VIP 1 maker / taker | Not disclosed | Not disclosed |
| Funding frequency | Not disclosed | Not disclosed |
| Withdrawal fees (BTC/USDT/ETH) | Not disclosed | Network fee only |
| Native-token discount | None (BMEX not a fee token) | Up to 20% with MX |
| Hidden fees | Not disclosed | 0-fee on select pairs (0-Fee Fest); API rates may differ |
Products & Contracts
This is the whole reason to read the MEXC page. The perp count runs into four figures, the leverage ceiling is far above BitMEX, and the inverse Coin-M perp survives, just as a smaller slice of the menu.
| Field | BitMEX | MEXC |
|---|---|---|
| Perpetual markets | Not disclosed | ~1,049 |
| Inverse / coin-margined perps | Yes (the pioneer) | Yes (Coin-M, ~10 pairs) |
| Max leverage BTC / ETH | Up to 100x | 500x / 500x |
| Max leverage alts | Up to 100x | Up to 500x (1000x on select) |
| Dated futures | Yes | No |
| Options | No | No |
| TradFi / commodity perps | Yes | Yes |
| Settlement currency | BTC, USDT + others | USDT, USDC, Coin-M |
Liquidity & Scale
BitMEX volume has thinned as it winds down. MEXC sits among the largest venues by open interest and daily turnover, with the depth concentrated on major pairs.
| Field | BitMEX | MEXC |
|---|---|---|
| 24h futures volume | Thin (winding down) | ~$11B-$15B |
| Open interest | Not disclosed | ~$9.9B |
| Market rank | Not disclosed | Not disclosed |
| Order-book depth | Not disclosed | Deep on majors; thousands of pairs |
Margin & Risk
| Field | BitMEX | MEXC |
|---|---|---|
| Margin modes | Not disclosed | Isolated, cross, hedge mode |
| Insurance / risk fund | Not disclosed | ~$526M-$684M (reports vary) |
| ADL policy | Not disclosed | ADL used |
| Max position limits | Not disclosed | Not disclosed |
Security & Transparency
BitMEX's record is genuinely strong here. MEXC is younger but publishes reserves on a regular cadence with third-party audits and keeps the bulk of assets in cold storage.
| Field | BitMEX | MEXC |
|---|---|---|
| Proof of Reserves | Yes (published) | Yes, bi-monthly >100% (Merkle) |
| Custody partner | Not disclosed | Not disclosed |
| Historical hacks | None since 2014 | Not disclosed |
| Bug bounty / audits | Not disclosed | Regular third-party audits (Hacken) |
| Cold storage % | Not disclosed | Majority in cold storage |
Trading Features
| Field | BitMEX | MEXC |
|---|---|---|
| Copy trading | Not disclosed | Yes (select futures) |
| Bots / grid / DCA | Not disclosed | Not disclosed |
| API | Yes (well-regarded) | Futures API needs KYB/authorization |
| Demo / paper trading | Testnet (historically) | Yes (demo trading) |
| Advanced order types | Yes | Not disclosed |
| Mobile app rating | Not disclosed | Not disclosed |
User Experience & Support
| Field | BitMEX | MEXC |
|---|---|---|
| UI / UX | Pro, advanced-trader oriented | Not disclosed |
| Support | Not disclosed | Not disclosed |
| Education / testnet | Testnet (historically) | Demo trading |
| Referral / VIP program | Not disclosed | Yes (referral + VIP) |
Deposits, Tokens & Migration
| Field | BitMEX | MEXC |
|---|---|---|
| Min deposit / withdrawal | Not disclosed | Not disclosed |
| Deposit networks | Not disclosed | Not disclosed |
| Fiat on-ramps | Not disclosed | Not disclosed |
| Native token | BMEX | MX (fee discounts up to 20%) |
| New-user bonus | n/a (closing) | Up to 10,000 USDT new-user rewards |
Figures checked July 2026 from MEXC's own materials and public data such as CoinGecko. "Not disclosed" means we could not verify a current figure, not that it is zero. Some values (insurance fund size, reserve ratios) come from reports that vary. Bonus is a standard new-user promo set by the exchange; terms vary. Confirm live on mexc.com.
Who should switch from BitMEX to MEXC
If your priority is choice and cost, MEXC is hard to beat. You trade around a thousand perpetual markets instead of a short major-coin list, pay 0% as a maker, and can still take an inverse Coin-M position when you want one. That combination suits altcoin traders and high-frequency makers better than almost anything else on our list of BitMEX alternatives. The honest caveats matter, though. MEXC restricts both the US and the UK, its KYC rules have tightened over time so unverified limits can shift by region, and reviews are mixed on that compliance friction. If you sit in the US or the UK, MEXC is a dead end and you want a venue that serves you, such as BitMEX vs BTCC. If you would rather keep coin-margined perps as the main event with a no-KYC tier, our overall top pick is Blofin, covered in BitMEX vs Blofin. And if copy trading is what you are after, see BitMEX vs Bitget. This is general information about access rules, not legal advice: check your local law before you sign up.
Ready to move?
MEXC is our pick for the widest altcoin perp menu and the lowest fees. Set it up before you withdraw from BitMEX so there is no gap, and claim the new-user rewards while the promo runs.
Open MEXC & claim the bonus → See all 19 alternatives
Affiliate link: if you open an account through it we may earn a commission at no extra cost to you. It never changes our ranking. How we make money.
BitMEX vs MEXC FAQ
Is MEXC a good replacement for BitMEX?
For altcoin traders, it is one of the strongest. MEXC lists around 1,000 perpetual markets, charges 0% maker and 0.02% taker on futures, allows up to 500x leverage, keeps a no-KYC basic tier to roughly 10 BTC a day, and still offers inverse Coin-M perps. The catch is that it restricts both US and UK users.
Does MEXC require KYC?
Not for basic trading. The unverified tier allows trading and withdrawals up to roughly 10 BTC a day. Primary KYC lifts limits to around 80 BTC, and Advanced KYC unlocks fiat and OTC. MEXC has tightened verification over time, so limits can change by region.
Does MEXC have inverse perps like BitMEX?
Yes. Alongside its very large USDT-margined list, MEXC runs Coin-M perpetuals settled in the underlying coin, roughly ten pairs at the time of writing, so you can keep trading inverse contracts.
Can US or UK traders use MEXC?
No. MEXC's Terms restrict both the US and the UK, along with Canada, Singapore, mainland China, Hong Kong and others. Check your own local rules first; this is not legal advice.
Last checked July 2026. Compare other options: Blofin (our top pick, inverse perps), BTCC (accepts US, UK restricted), Bitget (copy trading), or the full list of BitMEX alternatives.