During our MEXC vs OKX research, we discovered that both exchanges are equally loved and supported by millions of users all over the world due to their unique features and offerings.
Security measures, trading fees, and deposit and withdrawal methods are some of the most significant determinants of whether an exchange will be chosen.
To help you select the best crypto exchange, this in-depth review highlights some of the critical features of OKX and MEXC. Let’s dive in!
Key takeaways
- MEXC stands out as an exchange with innovative features such as the Kickstarter program and Launchpad that not only contribute to the growth of the crypto ecosystem but also help support projects
- OKX exchange is the ideal platform for traditional crypto trading thanks to its simple features and efficient trading tools.
- Fees are highly variable between both platforms, but trading fees will be reduced significantly when you trade using native tokens, MX tokens, and OKB tokens.
MEXC vs OKX: Overall Comparison
| MEXC | OKX | |
| Founded in | 2018 | 2017 |
| Number of users | 10 million+ | 50 million+ |
| Average trading volume | $1.3+ million per day | $1.1+ million per day |
| Number of supported crypto coins | 1700+ | 300+ |
| Number of countries supported | 170+ | 100+ |
| Mobile app | Yes | Yes |
MEXC vs OKX Fees
Deposit fees
MEXC’s deposit fees are reasonable but may vary depending on the cryptos. In general, no deposit fees are attached to almost all coins on the platform. However, for coins like Tether (USDT), you may need to pay a deposit fee of 5 USDT (if you use the OMNI chain)
At OKX, there are no fees associated with making a deposit.
Trading fees
MEXC charges both makers and takers a 0.10% fee on most trading pairs for spot trading. The futures fee rate at MEXC is also fairly reasonable at 0.01% for makers and 0.05% for takers.
Trading the MX token gets you trading fee discounts of up to 50% as long as you’re holding a minimum of 1,000 MX tokens for at least 15 consecutive days.
At OKX, the trading fee mainly depends on whether you’re a regular or VIP user. Regular users are divided into five tiers based on their total OKB holding. The higher the level, the lower the maker and taker fees, with the highest paying 0.06% in maker and taker fees while the lowest paying 0.08% (maker) and 0.1% (taker).
Withdrawal fees
Withdrawal fees are some of the most dynamic costs in the crypto world, as they depend primarily on market conditions. At MEXC, the fees for popular coins such as Bitcoin (BTC) and Ethereum (ETH-ERC20) are 0.0002 BTC and 0.003 ETH, respectively.
At OKX, withdrawal prices are lower as a BTC withdrawal currently attracts 0.0001 BTC, and for USDT, there are no withdrawal costs. This makes OKX the cheaper option for withdrawals. However, these fees are subject to regular changes and may vary from coin to coin.
MEXC vs OKX Deposit Methods
MEXC’S deposit methods
You can make deposits on MEXC using one of 7 methods including:
- Debit cards
- Credit cards
- Cash deposits using bank transfers
- P2P trading
- Quick buy/sell
- Crypto
- MEXC Mastercard.
OKX’s deposit methods
OKX supports about 7 of the most popular deposit methods including:
- Debit cards
- Credit cards
- P2P trading
- Bank transfer
- Crypto
- Apple Pay
- Google Pay.
When it comes to deposit methods, both OKX and MEXC have emerged on top.
MEXC vs OKX: Features
MEXC features
Let’s have a look at the features that make MEXC one of the top crypto exchanges in the world:
MEXC’s Futures Demo account
MEXC’s demo account is a haven for traders, crypto enthusiasts, and professionals. The futures demo account gives you access to virtual funds and a simulated trading environment where you can test MEXC’s interface and features and try various trading strategies before using them in the real world. The demo futures trading account is available on the web and the MEXC app.
MEXC Launchpad
MEXC’s Launchpad is a dedicated space that allows users to support and potentially receive airdrops from new blockchain projects as a reward for your commitment.
To become part of the Launchpad, you must buy and hold at least 1,000 MX tokens for 30 consecutive days. After 5 days, you’re free to use your tokens in an event, and the best thing is that you can simultaneously commit to all the events using the same tokens. Once the event ends, the airdrops are distributed based on each user’s initial commitment.
MEXC Kickstarter program
Like a launchpad, a Kickstarter program also involves supporting and promoting new projects within the crypto space. However, the key difference is that the Kickstarter program at MEXC is centered around voting for projects before their launch.
Each project has a predetermined target co-participation rate that must be reached before the project can be listed on MEXC. Once the target is reached, all those who voted for the project will receive free tokens.
For project creators, this is a great way to receive backing from MEXC, one of the most liked exchanges in the crypto market, leading to more traction and visibility.
MEXC spot trading and futures trading
MEXC offers a comprehensive trading experience with the more traditional spot trading, which involves trading crypto at the current cryptocurrency market price in hopes of generating a profit, and futures trading, which is a modern approach that consists of entering into contracts to buy or sell digital assets at a predetermined future date and price.
To make spot trading more manageable and reduce the risks associated with crypto, MEXC offers three order types: market orders, stop limit orders, and limit orders.
The futures trading arena on MEXC includes two types of perpetual futures: COIN-M and USDT-M. These perpetual futures enable traders to take long and short positions that allow for profit regardless of market conditions.
OKX’s features
Here’s a breakdown of the features that make OKX stand out:
OKX trading bots
If you’re looking to take the emotion out of your crypto trading, then bots are the way to go. Luckily, OKX is providing the best crypto trading bots on the market right now. According to the exchange, the platform has over 400,000 global bot users and 11.28 million bots have been created worldwide.
OKX gives you access to the most popular bot types, including Grid bots, dollar-cost averaging (DCA) bots, arbitrage bots, and many more.
Users can assess bots created by more experienced traders and use their tactics when making your bots. Once you successfully create efficient bots, you can earn from them through OKX’s bot profit-sharing scheme, which has seen some creators earn up to 30% of profits generated by users who replicate their bots.
OKX paper trading
OKX has a paper trading or demo account that simulates the crypto environment. It operates with virtual funds to allow users to build confidence as new traders and help more experienced users test and refine their trading strategies.
Suppose you’re unsure about OKX as a trading platform. In that case, the demo account also gives you a feel of what to expect regarding the interface and basic features.
OKB token
OKB is an OKX native utility token. Like most exchanges with native tokens, getting a hold of OKB leads to incentives such as exclusive access to crypto projects, a passive income opportunity through OKX Earn, and up to 40% discounts in trading fees.
The OKB token can be used for various security services, such as CertiK, Beosin, Chainsguard, and Slowmist. Additionally, you can spend the token on financial platforms such as Baksman, a Russian crypto platform highly revered in the region. With the token, you can access a world of endless utilities.
Enjoy shopping? You can use the OKB token to shop at offline stores, thanks to Linka and TrueChain. Are you booking your next trip? OKB can also be used to book your next hotel stay in over 450,000 hotels thanks to Tripio.
OKX Copy trading
OKX has one of the most robust copy-trading communities in the crypto industry, making it the ideal environment for beginners. You can use the copy trading feature to execute an experienced trader’s strategy in the real market.
OKX makes it easy for newbies to get these experienced traders thanks to the lead trader board that displays the current top traders, the win rate, and the PnL (profit and loss), which shows the effectiveness of the trader’s strategy.
As a lead trader, the copy trading feature can be a source of income as at OKX, you’ll receive 8% -13% of the profits from traders who’ve copied your strategy.
OKX loan program
Suppose you need liquidity and don’t want to sell your crypto so you can keep trading. In that case, you’re lucky because OKX has a crypto loan program comprising over 150 cryptocurrencies.
To access crypto loans, you must fill out a loan application form on the platform, state the amount of crypto you’re willing to use as collateral and wait for disbursement.
The amount available will depend on your leveraged trading level or OKX trading position tier level. The platform will rely on one with a lower maximum borrowing limit.
MEXC vs OKX: Security
MEXC ensures account security through mandatory setting of strong passwords, enabling two-factor authentication using Google Authenticator, and creating a Withdrawal Whitelist that allows your account to send crypto to a pre-set list of addresses. MEXC also enables users to create and enable anti-phishing codes that can help users authenticate any emails sent by MEXC.
Some of MEXC’s data security measures include encryption, regular audits and compliance checks, and Know-Your-Customer (KYC) checks.
OKX exchange comes with the same security features. However, the platform has taken it further by partnering with HackerOne, a bug bounty program that’s created a community of professionals identifying security vulnerabilities in a crypto exchange like OKX.
Additionally, OKX has created OKX Risk Shield, a fund specially used to protect your digital assets from security breaches. Because of its additional initiatives, including the bug bounty program and the OKX Risk Shield fund, OKX is better than MEXC at providing a secure trading environment.
MEXC vs OKX: Number of Cryptocurrencies
Currently, MEXC is the leader among the two in terms of the number of supported cryptocurrencies, as it boasts over 1700 coins and more than 2000 trading pairs. On the other hand, the OKX crypto exchange comes with around 300 coins and about 400 trading pairs.
Undoubtedly, MEXC is the winner in this category due to its significantly more extensive selection of coins, which allows for a more diverse trading experience.
MEXC vs OKX: Customer Support
The MEXC customer service center consists of a list of Frequently Asked Questions (FAQs), the MEXC bot, and a live chat. If you’re experiencing a simple issue, chances are you’ll find help by looking through the numerous FAQs that have been answered comprehensively. At the same time, the bot is also highly responsive and provides links to various guides on MEXC’s website based on your request.
OKX also has a diverse help center with FAQs, email support, and a live chat option.
The chat is available 24/7 and comes in 13 languages, making it more accessible and valuable in regions worldwide. Examples of languages include Arabic, Japanese, Vietnamese, Hindi, Turkish, and many more.
OKX has an excellent social media presence in the form of help desks on X and offers support via their platforms. You can simply tag them or send a direct message, and you’ll be assisted.
Unfortunately, neither exchange offers direct phone support.
Overall, OKX emerges as the winner in this category due to its extensive language support, 24/7 availability, and diverse support channels, all of which contribute to a more comprehensive and user-friendly customer support experience.
Who Should Pick MEXC?
Suppose you are seeking exposure to the latest developments and emerging projects in the crypto and technology space. In that case, you may find MEXC’s features and MX Zone appealing.
Who Should Pick OKX?
If you’re looking for a simple, traditional trading setup with a good selection of cryptocurrencies, features like a demo account for practice, a dedicated wallet app, and the advantages of holding OKB tokens, you may prefer OKX.
Conclusion: Is MEXC Better Than OKX?
MEXC is better than OKX in terms of technological advancements and non-traditional investment opportunities. Meanwhile, those looking for a straightforward, traditional trading experience with added features and one of the best platforms in copy trading may prefer OKX.
Ultimately, the choice between MEXC and OKX depends on individual preferences and trading goals.
