MXC vs Kraken: Fees, Coins, Safety Comparison
| Feature | MXC | Kraken |
|---|---|---|
Overall |
3.3 |
4.5 |
3.2 |
4.8 |
|
2.9 |
4.1 |
|
4.1 |
4.5 |
|
Investment Instruments |
3.8 |
3.7 |
Platforms and Charting Tools |
3.0 |
4.5 |
Deposit and Withdrawal |
3.1 |
4.0 |
Research |
2.7 |
4.3 |
Education |
2.5 |
4.2 |
Support |
3.4 |
4.3 |
Bonuses |
3.9 |
2.0 |
|
Your capital is at risk.
|
Your capital is at risk.
|
MXC vs Kraken: Pros and Cons
The MXC cryptocurrency exchange (MXC.com) has been operating since 2018. The company is registered in Singapore, which is a loyal digital asset jurisdiction. The platform offers clients trading and P2P exchange services. The main specialization of the trading platform is to provide clients with crypto/crypto trading services with currencies such as Bitcoin (BTC), Ethereum (ETH), and Tether USD (USDT). The undoubted bright side of the platform is access to cryptocurrency ETF funds.
The Kraken exchange is a trading platform for Bitcoin, Ethereum, Tether, Cardano, XRP, other cryptocurrencies, and stablecoins. Fiats are represented by EUR, USD, CAD, CHF, AUD, GBP, and JPY. In addition to margin trading, Kraken has indices and futures trading. The exchange provides traders with x5 leverage for margin trading and x50 for futures. Commission fees are among the lowest on the market - up to 0.26%. The crypto exchange has a proprietary trading terminal for an internet browser, as well as mobile applications for iOS and Android devices. The platform offers an extensive knowledge base, tutorials, and video podcasts with news and analytics. The referral program is the standard single-level model with a yield of 20% of the referral’s commission fees.
| MXC | Kraken | |
|---|---|---|
| Overall Pros | 120+ cryptocurrencies for trading; | 2 FA authentication |
| receive additional income through staking and holding; | Low minimum deposit | |
| an affiliate program with income up to 80% of the deposit of the invited trader. | Passive income with staking | |
| Regulated in several countries | ||
| Minimum maker fee $0 | ||
| Over 50 indicators and 16 drawing tools | ||
| Overall Cons | commissions of 0.2% per trade; | NFTs are not available |
| withdrawal fees (0.0005 BTC for Bitcoin); | ||
| lack of support for fiat currencies for trading; | ||
| no MAM or PAMM accounts; | ||
| mandatory verification. |
MXC vs Kraken: Safety and Regulation
| Regulated By: | MXC | Kraken |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
FSA |
FinCEN (USA), FINTRAC (Canada), FCA (Great Britain), FSA (Japan), AUSTRAC (Australia) |
MXC vs Kraken: Trading Conditions
| Trading Conditions | MXC | Kraken |
|---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
MXC |
Web, Mobile, Mobile Pro |
Max Leverage (Futures) |
44835 |
1:5 |
Number of Markets |
559+ |
374 |
Trading Accounts |
1 |
1 |
Base Account Currencies |
USD, cryptocurrencies |
USD, EUR, GBP, AUD, CAD, CHF, JPY + 98 Crypto |
MXC vs Kraken: Fees
Trading Fees
| Fee | MXC | Kraken |
|---|---|---|
Max Maker |
0.200% |
0.16% |
Max Taker |
0.200% |
0.26% |
Min Maker |
0.16% |
0 |
Min Taker |
0.16% |
0.1% |
Debit/Credit Card Purchase Fee |
Not supported |
3.75% + $0.25 |
Futures Trading fees
| Fee | MXC | Kraken |
|---|---|---|
Max Maker |
0.020% |
0.02% |
Max Taker |
0.060% |
0.05% |
Min Maker |
0.014% |
0 |
Min Taker |
0.042% |
0.01% |
Non-Trading Fees
| Fee | MXC | Kraken |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
$0-$10 |
Bank Transfer Withdrawal Fee |
Not supported |
4-35 USD |
Debit/Credit Card Withdrawal Fee |
Not supported |
3.75% + $0.25 |
BTC Withdrawal Fee |
0.001 BTC |
0.00001 BTC |
Inactivity Fee |
No |
No |
MXC vs Kraken: Trading Assets
| Asset Name | MXC | Kraken |
|---|---|---|
Overall |
559+ |
167+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
Dogecoin (DOGE) |
Yes |
Yes |
Binance Coin (BNB) |
Yes |
No |
Uniswap (UNI) |
Yes |
Yes |
Ripple (XRP) |
Yes |
For non US Users |
Polkadot (DOT) |
Yes |
Yes |
Cardano (ADA) |
Yes |
Yes |
Stellar (XLM) |
Yes |
Yes |
IOTA (MIOTA) |
No |
Yes |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
Yes |
Yes |
NFT |
No |
Yes |
Crypto ETF |
Yes |
No |
MXC or Kraken: Investment Programs
| Asset Name | MXC | Kraken |
|---|---|---|
Staking |
Yes |
Yes |
Mining pool |
No |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
Holding |
No |
Trading Platforms: Kraken or MXC
| MXC | Kraken | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Your capital is at risk.
|
Trading Platforms Features: Kraken or MXC
| MXC | Kraken | |
|---|---|---|
SMS Based 2 FA |
No |
No |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: Kraken or MXC
| MXC | Kraken | |
|---|---|---|
Indicators |
Yes |
50+ |
Drawing tools |
Yes |
16+ |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: Kraken or MXC
| MXC | Kraken | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Kraken or MXC
| MXC | Kraken | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
No |
Yes |
Stop Limit |
Yes |
Yes |
Trailing Stop |
No |
No |
MXC vs Kraken: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | MXC | Kraken |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Credit/Debit Card |
No |
Yes |
Electronic Wallets |
No |
No |
Crypto |
Yes |
Yes |
MXC vs Kraken: Research
| Research Type | MXC | Kraken |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
MXC vs Kraken: Education
| Education Type | MXC | Kraken |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Webinars |
No |
Yes |
Kraken vs MXC: Support
| Support Features | MXC | Kraken |
|---|---|---|
Working Days |
24/7 |
24/7 |
No |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
Ticket |
No |
MXC vs Kraken: Crypto Bonuses and Promo
| Promo | MXC | Kraken |
|---|---|---|
Crypto Bonus |
Rewards Center |
No |
Affiliate Program |
MXC.com pays customers up to 80% of the affiliate's replenished amount. |
up to $1000 per refferal |
|
Your capital is at risk.
|
Your capital is at risk.
|
Top 5 Reviews on Kraken
-
Comment
Kraken offers a wide range of cryptocurrencies and has a solid reputation in the industry, but serious issues with usability, customer support, and reliability detract from its appeal as a crypto exchange option.
-
Comment
I have to say they are scammers. He believed in Kraken, held coins on their crypto exchange. I recently found out that they deducted 50% of the balance from my trading account because I had not logged into my account for a long time. Who does this! And this without warning, of course!
-
Comment
It used to be not bad here, but every year the Kraken exchange dies down, as its turnover falls. Now it cannot be said that this is a large exchange, which it once was ...
-
Comment
I tried different exchanges, eventually settled on Kraken. Here are the best conditions for me. I have my favorite tools, the platform is understandable, I figured it out quickly and so far (for six months) nothing has lagged. The commission is also adequate, often below the market. Analytical materials are generally informative. But I’ll clarify right away: I was initially interested in a broker for active independent trading. There are no investment programs in Kraken, and that suits me. If you want extra income, then this is not your option, don't waste your time. I won’t say anything about beginners: on the one hand, Kraken provides basic training, but you can’t call the support service, except for a ticket or a chat.
-
Comment
I see that many people praise the Kraken exchange for its reliability and comfortable conditions for cooperation. I've been using this platform for about a year, and it's really good here. I would also like to note a high-quality trading terminal, it is simple and at the same time functional, even take profit and stop loss are integrated. The Kraken exchange has many advantages, so I will not list all of them. You will see for yourself if you register. I just want to name the cons such as the lack of telephone communication and investment programs. Also, the exchange favors active traders.
Top 5 Reviews on MXC
-
Comment
While Mexc's dedication to security is commendable, it does little to offset the frustrations caused by their subpar user interface, inadequate customer support, and limited cryptocurrency selection. As a client, I cannot overlook these significant drawbacks, and I would caution others to carefully consider their options before entrusting their funds to Mexc.
-
Comment
The company has completely lost its position. Until now, it positions itself as a global player, and you conduct your main activities from offshore. The dynamics are obvious, customers are leaving, conditions are getting worse! If the logic is correct, then it would be more correct to withdraw the remaining money from the account and transfer it to another company. At least as a precaution.
-
Comment
Yesterday, after all, they withdrew $200. I didn't hope anymore. Ordered November 10th. Can you still start to restore normal operation? I would like to hope!
-
Comment
I have been trading on MXC since January 2021. Before that, I collaborated with another popular crypto exchange. But at the end of last year, it changed the size of its commission, so I had to look for another site. I mainly work with BTC/USDT and this pair is the most active on MXC. I saw network reviews of disgruntled users who complain about deception by the exchange and even blocking of accounts. Personally, I have not noticed any scams on MXC.com, so I will not believe in libel until I see the violation with my own eyes.
-
Comment
There are many referral links on the network on thematic sites for registering with MXC. Prompted, I opened an account here and got a 10% discount on the first transaction. In general, I liked the site of its crypto exchanger. Everything is clear, several versions are available in different languages, and the choice of contests and bonuses is huge. So far, I only work with crypto on this exchange, but in the future, I plan to invest in ETFs, since today this is a fairly popular topic. The MXC exchange does not take money for making a deposit and the trading commission is fixed, which suits me perfectly.
FAQs
What should I start Crypto trading with?
For starters, you need to learn what crypto trading is, understand what cryptocurrency is and the risks and opportunities cryptocurrency trading has. It is also important to learn the existing strategies. The second step is to choose the best crypto exchange with good trading conditions. A demo account that you can use to gain valuable experience risk free is an important advantage of an exchange.
What amount should I start trading with?
It is recommended to start trading cryptocurrencies with a small amount. That way, if you partially lose it, it won’t pose a serious financial problem for you. This is because cryptocurrencies are highly volatile, which carries certain risks for novice traders. The majority of cryptocurrency exchanges allow traders to start from a small amount – from $1 to $50 or its cryptocurrency equivalent.
What should I take into consideration when choosing a crypto exchange?
The first thing experts recommend looking at when considering crypto exchanges is their reliability. Other important features include basic trading conditions, commissions and fees, customer reviews. If crypto exchanges are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One crypto exchange may be good for professionals and another – for novice traders.
Can a cryptocurrency exchange turn out to be a scam?
Unfortunately, this does happen. Therefore, it is better to choose cryptocurrency exchanges that have been operating in the market for at least several years and have a stable reputation. Regulation of an exchange in one of the countries with high legal culture is also an advantage.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.