Essential MEXC Order Types
Essential MEXC Order Types: A Beginner's Guide
MEXC is a centralized cryptocurrency exchange known for offering a wide range of trading products, including spot trading, derivatives, and various investment options. This guide provides a neutral, beginner-friendly overview of its core features and how to execute trades.
Core Features and Supported Assets
MEXC supports a vast selection of digital assets, typically including major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), alongside numerous smaller-cap altcoins. Users can engage in trading across the Spot market or trade leveraged products such as Futures contracts.
The platform emphasizes high throughput and aims to provide competitive services compared to other exchanges, which users can explore further by Exploring the Different Types of Cryptocurrency Exchanges".
Fees and Funding
Trading fees on MEXC generally follow a tiered structure based on the user's 30-day trading volume and their holdings of the native MX token. Both takers (who remove liquidity from the order book) and makers (who add liquidity) are charged fees.
Funding and withdrawals involve network transaction fees, which vary depending on the specific cryptocurrency and current blockchain congestion. Users must adhere to daily withdrawal limits, which are often dependent on the level of Know Your Customer (KYC) verification completed.
Spot and Futures Trading Basics
Trading on MEXC is divided primarily into two environments:
- Spot Trading: Involves the direct buying and selling of assets for immediate settlement. If you buy BTC on the spot market, you receive the actual BTC into your exchange wallet.
- Futures Trading: Involves trading contracts that derive their value from an underlying asset. This allows traders to speculate on future price movements using leverage, which amplifies both potential gains and losses.
Essential Order Types for Beginners
Understanding order types is crucial for effective trading. MEXC supports standard order types necessary for interacting with the Order book.
| Order Type | Purpose | Key Consideration |
|---|---|---|
| Limit order | Set a specific price at which you wish to buy or sell. | Your order may not execute immediately if the market price does not reach your specified limit. See Limit order strategies for more detail. | ||
| Market order | Execute immediately at the best available current price. | Guarantees execution speed but not price certainty (slippage can occur, especially in volatile markets). | ||
| An order that becomes a Limit order once a specified trigger price is hit. | Used for risk management, combining a trigger with a price cap. | ||
| Used often in futures, this is generally similar to a Stop order. | Essential for automated risk control. |
To manage open or filled orders, users can interact with the platform's API endpoints, such as /v2/private/order/cancel.
Liquidity and Markets
MEXC hosts numerous trading pairs, ranging from high-volume pairs like BTC/USDT to less liquid pairs. Liquidity refers to how easily an asset can be bought or sold without significantly affecting its price. Higher liquidity generally results in tighter spreads (the difference between the best bid and ask prices). Traders should always check the depth of the Order book before placing large orders.
Security and KYC Requirements
MEXC implements standard security measures, including Two-Factor Authentication (2FA) and cold storage for the majority of user assets.
KYC verification is optional for basic trading but is often required to unlock higher withdrawal limits and access certain features. Limits on trading and withdrawals are tied directly to the verification level achieved by the user.
User Experience (UX)
The platform is accessible via a web interface and dedicated mobile applications (iOS and Android). The UX is designed to handle both simple spot transactions and complex futures trading interfaces.
First Steps Checklist
For new users looking to start trading on MEXC, follow these steps:
1. Register an account: Register here 2. Enable Two-Factor Authentication (2FA). 3. Complete necessary KYC verification if higher limits are required. 4. Deposit cryptocurrencies or fiat currency. 5. Navigate to the desired market (Spot or Futures). 6. Place your first Limit order or Market order.
Risks and Responsible Trading
Cryptocurrency trading, especially futures trading involving leverage, carries substantial risk. Users can lose their entire investment. It is vital to use strong risk management techniques, such as setting stop-loss orders, understanding margin requirements, and never trading more than you can afford to lose. This platform is a tool; responsible trading practices are the user's responsibility.
See also (on this site)
- MEXC Asset Variety Explained
- Understanding MEXC Trading Fees
- Assessing MEXC Liquidity for Traders
- KYC Requirements and Account Limits MEXC
Recommended articles
- Order Types in Crypto Trading
- Market Order vs Limit Order
- Essential Tools Every Beginner Needs for Futures Trading Success"
- Order Flow Analysis in Futures Trading
- Moving Average Types
Recommended Futures Trading Platforms
| Platform | Futures perks & welcome offers | Register / Offer |
|---|---|---|
| Binance Futures | Up to 125× leverage, USDⓈ-M contracts; new users can receive up to 100 USD in welcome vouchers, plus lifetime 20% fee discount on spot and 10% off futures fees for the first 30 days | Sign up on Binance |
| Bybit Futures | Inverse & USDT perpetuals; welcome bundle up to 5,100 USD in rewards, including instant coupons and tiered bonuses up to 30,000 USD after completing tasks | Start on Bybit |
| BingX Futures | Copy trading & social features; new users can get up to 7,700 USD in rewards plus 50% trading fee discount | Join BingX |
| WEEX Futures | Welcome package up to 30,000 USDT; deposit bonus from 50–500 USD; futures bonus usable for trading and paying fees | Register at WEEX |
| MEXC Futures | Futures bonus usable as margin or to pay fees; campaigns include deposit bonuses (e.g., deposit 100 USDT → get 10 USD) | Join MEXC |
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