MEXC is a crypto exchange founded in 2018 that says it covers more than 170 countries and regions, with more than 40 million users according to its official About page (checked 26 September 2026). As for Japan, MEXC's terms of use (version dated 29 May 2025) do not list Japan among the 'prohibited jurisdictions,' and MEXC's help centre requires two-factor authentication on every account.
This article checks MEXC's official About page, terms of use, risk disclosure and help centre as of 26 September 2026, and organises the company overview, how Japan is treated under the terms, the security features, the KYC tiers and withdrawal limits, and the gap between commonly discussed opinions and what official sources actually confirm. It is not a recommendation to use the exchange or deposit funds, and crypto trading carries price-movement and other risks.
Conclusion: four facts on MEXC's reputation and safety
- Founded in 2018, covering 170+ countries and regions, with 40 million+ users (official About page, checked 26 September 2026)
- Japan is not on the list of prohibited jurisdictions in the terms of use (version dated 29 May 2025); the list may change at any time
- Accounts must enable two-factor authentication with at least two of: mobile phone number, email address, or Google Authenticator
- KYC has two tiers (Elementary and Advanced) with different withdrawal limits (80 BTC/day and 200 BTC/day) and review times (usually within 15 minutes, sometimes up to 24 hours)
MEXC company overview: founded 2018, 170+ countries and regions, 40 million+ users
MEXC was founded in 2018. Its official About page states it covers more than 170 countries and regions and has 'more than 40 million' users (a different page on the same site also says 'more than 30 million,' so the figures are not entirely consistent across MEXC's own site). The people named are CEO Vugar Usi, Chief Compliance Officer Robert MacDonald, and Global Head of Customer Service Derrick Yeo.
| Item | Detail |
|---|---|
| Founded | 2018 |
| Countries and regions covered | 170+ |
| Users | 40 million+ (per the About page; another page says more than 30 million) |
| CEO | Vugar Usi |
| Chief Compliance Officer | Robert MacDonald |
| Global Head of Customer Service | Derrick Yeo |
※ MEXC's official pages (About, terms of use, risk disclosure) do not consistently state the operating company's registered name or address; check the terms of use for that detail.
MEXC's risk disclosure opens with: 'To better protect users' interests, MEXC would like to remind you once again that trading and/or investing in the crypto-asset market carries significant risks. By participating in these activities, you risk losing all or a substantial portion of your assets.'
Use from Japan: Japan is not on the prohibited-jurisdiction list (terms of use, 29 May 2025 version)
MEXC's terms of use (last updated 29 May 2025) define 'prohibited jurisdictions' as North Korea, Cuba, Sudan, Iran, mainland China, Singapore, Malaysia, the United States, the United Kingdom, Hong Kong, Kazakhstan, Russian-controlled areas of Ukraine, Canada, and persons subject to EU, OFAC or FATF blacklist sanctions. Japan is not on this list (checked 26 September 2026).
The terms state that 'the list of prohibited jurisdictions is not exhaustive and may be updated at any time at MEXC's sole and absolute discretion.' The governing law is that of England and Wales, and disputes are arbitrated at the Hong Kong International Arbitration Centre (HKIAC). This does not mean use from Japan is institutionally recognised as lawful; it simply means Japan is not currently on the list of restricted countries under the terms.
MEXC's help centre offers 24/7 customer support via live chat and a set of Japanese-language articles.
Security: mandatory two-factor authentication and withdrawal protections
MEXC's help centre states: 'To protect your account assets, MEXC requires two-factor authentication to be enabled. You must link at least two of the following: mobile phone number, email address, or Google Authenticator.' Google Authenticator generates a new six-digit code every 30 seconds.
- Instant withdrawal: a setting that allows small withdrawals without 2FA, with a customisable limit that takes effect 24 hours after being changed
- Withdrawal whitelist: newly added withdrawal addresses are locked for 24 hours
- Withdrawal protection: all withdrawals are blocked while the lock period is active
KYC tiers and withdrawal limits: Elementary vs Advanced, and review times
MEXC's KYC has two tiers, Elementary and Advanced, with different crypto withdrawal limits and P2P trading caps.
| Item | Elementary KYC | Advanced KYC |
|---|---|---|
| Crypto deposits | Unlimited | Unlimited |
| Crypto withdrawal limit | 80 BTC/day | 200 BTC/day |
| P2P trading | Allowed (no cap stated) | $20,000/day |
| Spot and futures trading | Allowed | Allowed |
※ With institutional verification, the 24-hour withdrawal limit rises to 400 BTC. The withdrawal limit for accounts without KYC is not stated in the official pages as a number.
KYC review usually completes within 15 minutes, though the official page also notes it can take 8 to 24 hours.
Common talking points vs what official sources confirm
| Talking point | What official sources confirm |
|---|---|
| Fees are high/low | Spot maker 0%, taker 0–0.05%; futures maker 0–0.04%, taker 0–0.1% (20% off when paying fees in MX) |
| Can't buy with JPY | JPY quick purchase (Apple Pay, Google Pay, card) and P2P are both supported, though JPY P2P listings were at zero at the time of checking on some occasions |
| Withdrawals are slow | Status-based review times of a few minutes to about 60 minutes are stated; if pending 1 hour or 6+ hours, contact is recommended |
| Support isn't available in Japanese | The help centre offers 24/7 live chat and a set of Japanese-language articles |
| There's a card | MEXC Global Card (a Visa virtual card) was released on 31 August 2026 |
What is the MEXC Card? Cashback and how to apply (separate article) →
What to check before using MEXC
- The terms of use are governed by English law with HKIAC arbitration in Hong Kong, and the prohibited-jurisdiction list can change at any time
- The operating company's registered name and address are not stated consistently on official pages; check the terms of use
- Always enable two or more factors of 2FA, and understand the withdrawal whitelist and withdrawal protection mechanisms
- Withdrawal limits differ by KYC tier, so confirm your Advanced KYC status against the amount you plan to withdraw
- Sending crypto may require submitting travel-rule information
Sending crypto to overseas exchanges and the travel rule (separate article) →
How much crypto tax, and from what amount? The JPY 200,000 rule (separate article) →
Frequently asked questions
Q. Where is MEXC based?
A. None of MEXC's official About page, terms of use, or risk disclosure states a consistent registered company name, address, or country of incorporation (checked 26 September 2026). The About page states it was founded in 2018, covers 170+ countries and regions, and has 40 million+ users, but the corporate detail is left to the terms of use.
Q. Can Japanese users use MEXC?
A. Japan is not on the list of prohibited jurisdictions (North Korea, Cuba, Sudan, Iran, mainland China, Singapore, Malaysia, the United States, the United Kingdom, Hong Kong, Kazakhstan, and others) defined in MEXC's terms of use (version dated 29 May 2025). However, the list is not exhaustive and may change at MEXC's discretion.
Q. Is MEXC's reputation for safety accurate?
A. Opinions vary on fees, JPY support and customer service, but what official sources confirm is mandatory 2FA, security features such as the withdrawal whitelist and withdrawal protection, and withdrawal limits that differ by KYC tier. Safety here refers to available features, not a guarantee against price risk or asset loss.
Q. Is two-factor authentication mandatory on MEXC?
A. Yes. The official help centre requires linking at least two of: mobile phone number, email address, or Google Authenticator.
Q. What are MEXC's KYC withdrawal limits?
A. 80 BTC per day for Elementary KYC and 200 BTC per day for Advanced KYC (official KYC FAQ, checked 26 September 2026). With institutional verification, the 24-hour limit rises to 400 BTC.
Q. Who operates MEXC?
A. Official pages do not consistently state the registered company name, address, or place of incorporation; this needs to be checked in the terms of use. The governing law is England and Wales, and disputes are arbitrated at the Hong Kong International Arbitration Centre (HKIAC).
Sources
FX Textbook is an independent information site, not an exchange or a provider of personal investment advice. Crypto-asset trading involves risk: price volatility, liquidation of leveraged positions, transfer mistakes and the operational risk of exchanges and service providers can cause you to lose some or all of your invested capital. No result is guaranteed.
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