Detailed instructions on how to calculate MEXC fees

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Detailed instructions on how to calculate MEXC fees

What do MCrypto fees include? Is there a fee when depositing money to Mexc or withdrawing money? Let's find out with MCrypto through the following article.

Trading fees on cryptocurrency exchanges are one of the important factors when evaluating the attractiveness of an exchange. In this article, let’s find out with MCrypto whether MEXC fees are high or low and how to calculate MEXC deposit fees as well as withdrawal fees from MEXC.

Table of Contents

Introducing the MCrypto platform

MEXC (MXC Exchange) is one of the leading cryptocurrency exchanges on the market. This exchange was founded in 2018 and has quickly become one of the fastest-growing exchanges in the cryptocurrency industry. MEXC offers a rich range of cryptocurrency trading pairs, allowing users to exchange between many different cryptocurrencies.

In addition, MEXC also has a strong privacy and security policy to ensure the safety of users’ assets. In particular, MEXC has developed its own token, called MX Token, which is used in many cases on the exchange and provides incentives for users.

Next, we will learn information about MEXC fees!

>>See more: MEXC global – A safe place to trade virtual currencies

MEXC fees

Cryptocurrency exchanges all have different fees. And the Mexc exchange is no exception. Below are the fees you may have to pay when making transactions on the Mexc exchange.

MEXC fees Spot

This fee depends on the type of asset traded and your daily trading level. Below is an example of the MEXC Spot trading fee structure:

Maker and Taker Fees: Market makers are often rewarded by placing trade orders at prices different from the current market price. While market takers usually have to place orders at the current price.
Trading fees on MEXC: Calculated based on your trading volume in a specific period of time, for example, 30 days. Fees may gradually decrease as your transaction volume increases.
Withdrawal fees from MEXC: MEXC may impose fees for withdrawing funds from the exchange. Withdrawal fees from MEXC usually vary depending on the cryptocurrency you want to withdraw and the amount.

The spot is one of the types of MEXC fees

In June 2023, MEXC organized a special event in which all users have the opportunity to conduct Spot trading absolutely free of charge.

MEXC fees Futures

Below is some general information about MEXC Futures trading fees:

Maker and Taker Fees: MEXC often applies a distinction between Maker and Taker. Market makers often pay little or no fees (Maker Fee). They even receive a bonus based on the order price. On the contrary, the taker often has to pay higher fees.
Underlying asset fee: This fee is calculated as a percentage based on the value of the underlying asset contract. This fee is usually determined according to each specific trading pair.
Funding Fee: Charged for positions opened overnight based on the trading pair and direction of your position. Overnight fees can either be money you receive or pay. This fee depends on the position direction and market interest rates.
Fees related to transaction problems: Applicable when you execute a transaction order and cause a problem. You may have to pay an offset fee or face remedies.

In June 2023, MEXC launched a promotion with a 0% fee (free) for Maker. At the same time, only 0.01% for Taker in Futures transactions.

Futures fees on Mexc exchange are competitive

To see about the types of MEXC fees. You can visit the official MEXC website and navigate to the “Transaction Fees” section. At the same time, before starting to trade, make sure to complete the MEXC KYC and MEXC download process for convenience in trading and managing your assets.

Discount on MCrypto platform fees

Traders enjoy a special offer with a 20% reduction in transaction fees when using MX Token on the exchange.

For example, let’s say a user decides to buy 0.1 BTC for 5000 USDT for the BTC/USDT trading pair on the USDT market and uses MX Token to pay the transaction fee.

The latest market price of MX Token is 2 USD. User transaction fees will be 2 MX. This means users only need to spend 5000 USD and 2 MX to buy 0.1 BTC.

To activate the MX trading fee discount, users can visit the assets page on the exchange.

How to calculate MEXC fees

Below we will show you how to calculate MEXC fees. Use this to calculate the transaction fee so you know how much you need to pay.

Calculation

The transaction fee rule is the mechanism that stipulates that. Transaction fees are deducted from the currency you trade in the market. Transaction fees are usually calculated by multiplying the transaction volume by the corresponding fee.

Typically, the Maker fee for Spot trading is 0%, while the Taker fee is 0.1%.
A Maker order is an order that you place and match with a pending order in the market. This order allows for immediate transaction execution.
A Taker order is an order that does not have a corresponding order in the market to match. You need to wait until there is a matching order to execute.

Note that there are no trading fees for unfilled and canceled orders. This helps users save fees in this case.

For example

In case the user buys 0.1 BTC for 5000 USDT for the BTC/USDT trading pair. Then, on the USDT market, the user’s transaction fee is 0.1% * 5000 = 5 USDT. This means that to buy 0.1 BTC, users need to pay a total of 5005 USD.
If a user sells 0.1 BTC on the BTC/USDT trading pair in the USDT market to get 5000 USDT, their transaction fee is 0% * 5000 = 0 USDT. This means that users will receive 5000 USD for selling 0.1 BTC.
In case a user buys 10 ETH for 0.5 BTC on the ETH/BTC trading pair. At that time, on the BTC market, their transaction fee was 0.1% * 0.5 = 0.0005 BTC. This means that to buy 10 ETH, users need to pay a total of 0.5005 BTC.
If a user sells 10 ETH on the ETH/BTC trading pair in the BTC market to get 0.5 BTC, their transaction fee is 0% * 0.5 = 0 BTC. This means that users will receive 0.5 BTC for selling 10 ETH.

Are there any fees for depositing money to MEXC and withdrawing money from MEXC?

MEXC fees policy on deposits and withdrawals is as follows:

MEXC deposit fees are free, which means that you do not have to pay any fees when depositing money into your account on the exchange.
However, withdrawal fees from MEXC may vary depending on the platform and cryptocurrency you are withdrawing from.

MEXC fees when making deposits and withdrawals

>>See more: MEXC account creation is detailed and simple for a beginner

Factors affecting MEXC fees

Factors that influence transaction fees can be as follows:

The number of transactions you make on MEXC can affect the transaction fee. Usually, more transactions result in lower fees.
Each cryptocurrency on MEXC may have different transaction fees. Popular coins often have lower fees compared to other coins.
Your account status may affect trading fees on MEXC. VIP or higher-level members can enjoy lower fees and other incentives from the exchange.

Epilogue

MEXC fees may vary depending on transaction type and time. To know specific details and calculate your transaction fees, in addition to the information provided by MCrypto, you should refer to the official website of MEXC Exchange or contact them for the most specific information. This will help you make smart decisions when trading on this exchange.