Exchange Review – Reliable or Not?

Mercatox is a new peer-to-peer cryptocurrency exchange that is attempting to cater to the needs of retail traders and investors. They have increased their user base exponentially in the last couple of years, and at the time of writing this post, they have more than 700,000 clients.

Fees charged by them are capped at 0.25%, which is competitive, and compared to the industry’s average, it is not something that can be termed as unreasonable.

This platform has been around for more than 5 years, and thanks to their commitment, they have indeed earned a lot of reputation online.

The range of trading instruments available is also more than adequate, but just like every exchange out there, this one also has its own set of merits and demerits.

Customer support is one of the main aspects that is not so great about them.

Not to mention, the user feedback about them for the most part is also not that great, and there are many things about them you need to be aware of before opening any positions via their platform.

Go through the following content to understand the way this portal works and then make a decision based on the data.

Preliminary Checks

This website has been around since 2015, and according to the data we gathered from, they have already prepaid for their hosting and domain till 12/10/2021.

The registration information is hidden from the public, and the lack of transparency always resonates in a bad way in our books. It would have enhanced their profile if they were open to the clients, and given the fact that they are unregulated, the lack of details just ignites nothing more than chaos. 

Popularity and Associated Portals

Mercatox ranks 26,184 globally, which means almost all of their digital prints are easily teachable and verifiable due to the massive data available about them.

Many of their client base comprises traders from India, the United States, and Indonesia.

This platform accepts people from all around the world.

To open an account with them, individuals just have to be above 18 years and should have a valid email address.

Unlike many exchanges, they adore decentralization to an extreme level, and clients can even withdraw from this platform without having to complete KYC as well.

Note that, if KYC is not done, there will be limits on the withdrawal amounts.

Many reputable sites like FXempire, Coinintelligence, and Insidebitcoins have posts on them.

This firm also offers interesting affiliate programs, and due to that reason alone, many small websites also promote them and monetize their traffic.

Though there is nothing wrong with promoting any exchange, at some level it might create a conflict of interest.

So, we suggest you do in-depth research whenever you feel it is necessary, and to be on the safer side, never trust any information blindly.

Website Trust Score

Mercatox has got a domain rating of 66.

More Than 2,500 websites link out to them, and they have over 200,000 impressive backlinks.

Obviously, being active for half a decade is no joke, and the kind of recognition they have earned shows their marketing capabilities.

We searched the web to see whether we can find any dirt on them, but there was nothing about them that was concerning.

Apart from occasional server issues and glitches, no incident has taken place.

This platform also follows all the safety features and has a valid SSL certificate. Information that is shared with this website is completely encrypted and cannot be accessed by outsiders.

Moreover, clients can also enable 2 FA to enhance the security of their accounts further. All in all,

Mercatox is undeniably a trustworthy and reliable exchange.

Contact Information

Compared to the big names in the sector, such as Binance, the customer support provided by this firm is not that great.

The only way to reach the staff is via email, and all of the contact details are listed below.

Their website feels a bit outdated, and as far as functionalities go, there are a lot of things that have to be improved.

Surprisingly, they are active on most popular social media platforms, and they can be reached via Facebook, Instagram, and Telegram.

The lack of telephone support and the absence of a live chat feature is something many people frown upon.

Response time and working hours are also not stated, but as they are located in the UK, we feel it is safe to assume that the schedules will be based on the local time zone.

  • Email –
  • For Business queries –

Products Offered

Mercatox offers almost all of the major coins and cross-currency pairs.

The available list of instruments is more than an average trader needs, and spreads are not too much.

As far as cost goes, a flat fee of 0.25% is charged for every position initiated or liquidated.

If you are used to FTX or other well-known exchanges, then it might be a little disappointing for you to continue with this platform due to the lack of derivatives.

Plus, their website badly needs an upgrade, and it would have been nice if they could offer or embrace the algorithmic way of trading.

All kinds of stop orders can be placed via this exchange, and lending can also be carried out.

If you are planning to lend cryptocurrencies, then you can set the terms, and almost everything is in your control.

However, as this exchange is unregulated we would suggest you not to lend heavily or commit a lot of capital to them as it is still a risky thing to do.

Deposit and Withdrawals

Mercatox does not state any minimum deposit value, but it may vary depending on the payment method used by the clients.

This platform does not support fiat deposits; things like wire transfers and credit cards are not entertained on their portal.

All of the funding and payments have to be through cryptocurrencies and e-wallets.

E-wallet transactions are processed immediately, but for cryptocurrencies, at least two confirmations must occur before the funds are credited to the account.

Withdrawal fees are also present, and for the latest rates, it is always better to check with their platform as they are subject to change.

For clients that have not verified their details, a withdrawal cap of 0.5 BTC is applicable, and for verified clients, the withdrawal cap only hits if they try to withdraw more than 5 BTC in a day.

Reputation and Community

Whenever a firm is active for more than a couple of years, they gain a reputation, and in today’s time, it is almost impossible to keep clients from sharing their experience online.

Most user feedback about this exchange is concerning, and people generally seem to have faced crucial issues with them.

Moreover, the ratings on Trustpilot are also not something anyone would like.

On sites like Reddit and Bitcointalk, the general consensus appears to be mixed.

Few people love this platform for practical reasons, and a lot of people are not comfortable with the way they were treated.

Take a look at the following comments gathered from Trustpilot and Bitcointalk to get a glimpse of the situation.

FYI, though there is positive and negative feedback, the number of complaints clearly outweighs the flattering feedback, and as always, data never lies about the ground reality.

Poor support not answering.Also fake volume,just check LTC/BTC pair and you will see that nobody didnt putted those buy orders and sell orders but there is still trades at those prices ,their stuff is buying from themself to pump daily volume.

Also we cant withdrawal litecoin for more then 2 weeks but some guy in chat told me that I should buy litecoin because it is very cheap.

Also there is too much scammers in their chat.

SCAM exchanger

It’s absolutely normal exchange. I calmly deposit and withdraw my coins. Without any problem. One thing that I know that on this exchange prohibited double accounts. So I think if stick to their rules everything will be ok.

I used to trade here and they are good not really the best exchange but I have no issue with deposit and withdrawal and yes they asked for KYC if you trade within their allowed threshold, because they are a compliant company and exchange so if you are going to trade a huge amount then you will have to go through KYC.

Complaints We Received

On August 12, 2023, we received the following complaint:

I invested a certain principal amount in the Mercatox mobile app. With assistance from a broker named Elena Mengli, my initial investment has grown to $197,135 in total funds on Mercatox. However, they are now demanding that I send $32,000 to them before I can withdraw any money from the site. I’ve also been warned that my funds could be frozen.


Mercatox, at the end of the day, is an unregulated entity.

They do bring certain good things to the reach of the retail crowd.

However, before they gain credibility, they have to fix a lot of things and should improve the user experience by an enormous degree.

The lack of fiat options and higher withdrawal fees is also not doing them any good, and they need to keep up with their competition by introducing leveraged tokens.

Also, customer support needs to be more responsive, and they need to feature telephone support to establish reassurance among the users.

As far as all the complaints against them are considered, we could not verify the allegation due to a lack of data.

Nonetheless, if you have experienced significant financial loss due to this firm, then feel free to comment down below, and we will try our best to help you.

If you want to use this platform, do so by only investing the bare minimum of money and testing them out. If everything works out fine and they suit your strategy, then scale things up, but remember there are better alternatives out there.

Do you have any personal experience with the Mercatox platform? If yes, then share your opinion with our readers by commenting below.


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