The ability to trade on demo accounts is very popular in the cryptocurrency industry, and this is understandable. The field is relatively new compared to traditional markets, but at the same time it is very popular, with many newcomers joining every day. Instead of losing real money right away, they have the opportunity to practice on a demo.
In this article, Criptomais experts analyzed the features of a demo account at Mexc, a large cryptocurrency broker that supports futures and spot trading, with low fees and convenient functionality.
- There is no need to register a separate account.
- The demo is available in the futures section under the “Demo Trading” button.
- The maximum amount of test funds is up to 50,000 USDT, 10 BTC, 100 ETH.
- You can recharge once a day.
- The mode is available in both the full version and the mobile version.
About MEXC Global Broker
MEXC Global is a cryptocurrency exchange launched in 2018 in Singapore and now registered in the Seychelles. The exchange offers trading in over 2,200 cryptocurrency pairs, including pairs with Bitcoin, Ethereum, Litecoin, Ripple, and promising new tokens.
The MEXC broker offers margin trading with maximum leverage of up to 200x (up to 75x on demo), as well as various trading tools such as trigger orders and trailing stops. The platform has high liquidity, especially in BTC/USDT, ETH/USDT, XRP/USDT, and MX/USDT pairs (MX is the platform's native token).
The cryptocurrency exchange offers users the opportunity to increase account security using two-factor authentication.
The aforementioned MX token, which can be used to receive discounts on trading fees and other benefits on the exchange. The MX token is also available for trading on other cryptocurrency exchanges – Bybit, cooperative, Uniswap.
How to open a demo account on MEXC
You don't need to register a separate account for this. A general public account with the broker is sufficient.
To register with MEXC:
- Go to website mexc.com or download the mobile app (Android, iOS).
- Click "Register".
- Enter your email and create a password. You can choose to register with a mobile number instead of an email, but the first option is preferable as there will be no problems with the delivery of confirmation codes.
- Agree to the terms of the user agreement and privacy policy.
All you have to do is confirm your email or phone number using the code that was sent to them and your account is created.
Where to Find MEXC Demo Trading on Website and App
No site:
Go to section “Futures” -> “Perpetual Futures USDT-M» or “Perpetual Futures COIN-M».
Open the additional options menu and select “Demo Trading”.
At work:
Go to section “Futures”. Open the additional options menu by clicking on the three dots in the upper right corner and select “Demo Trading”.
Demo functionality on MEXC
Testnet allows trading not all contracts available on the site, but only some.
Available USDT-M perpetual contracts (USDT-margined):
- BTCUSDT
- ETHUSDT
- SOLUSDT
- SHIBUSDT
- MXUSDT
- CEECUSDT
- BONEUSDT
Available COIN-M perpetual contracts (margined in the underlying cryptocurrency):
- BitcoinUSD
- EthereumUSD
The trader has the ability to close and hole long/short orders, including those with up to 75x leverage.
Available order types are market, limit, trigger, trailing stop, “put only”.
The trading commission is basic, currently 0% for the maker and 0.1% for the taker. The maker is the one who creates the limit orders and makes the market, and the taker creates the market orders and closes the limit orders with them.
MEXC Test Account: How to Top Up
From the beginning in the user account 0 USDT, 0 ETH and 10 BTC.
The maximum possible value is 50 000 USDT, 100 ETH and 10 BTC.
So, bitcoins for trading the BTCUSD contract are already available and cannot be replenished at the initial time. But if you intend to trade the ETHUSD contract or any USDT-M contract, you will need to fund your account first.
To do this, select the desired contract and click on the button “Get Demo Tokens” in the trading terminal.
You can click the “All” button to add the maximum value at once. Then click "Confirmed".
Completed – your balance is displayed in the order creation area. You can start trading.
In the future, you will be able to top up your MEXC demo account in a similar way, but subject to two conditions: no more than once every 24 hours and if the amount on the test balance does not exceed the maximum level.
Advantages and disadvantages
Frequently asked questions
Conclusion
A demo account on the MEXC cryptocurrency exchange gives new traders the opportunity to test the platform without the risk of losing funds. In fact, it can also be useful for experienced users who want to test a new strategy. A demo account provides an approximation to real market conditions and helps you better understand how the various functions and capabilities of the service work. It is important to remember that trading on a demo account does not guarantee success after investing real money. The cryptocurrency market is volatile and without a well-thought-out strategy, there is a risk of losing your investment.