MEXC-bydbit (mexc-bydbit.com) has been flagged by ASIC (Australia) for "Unlicensed". Related Investor Alerts: https://moneysmart.gov.au/check-and-report-scams/investor-alert-list#!https-www-mexc-mybit-com-1371 This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.mexc-bydbit.com.
Do not use MEXC-bydbit (mexc-bydbit.com) for anything serious. I used them since early this year for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Personal attention|Clean UI|Copy trading available
Cons: Limited demo account features|Alert system is basic
I had high hopes for MEXC-bydbit (mexc-bydbit.com) after my brother mentioned them, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Transparent fees|Great customer service|Fast execution
Cons: No crypto staking
I wanted to transfer my portfolio from another broker to MEXC-bydbit (mexc-bydbit.com). They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Wide product range|Social trading features
Cons: No fractional shares
The reporting at MEXC-bydbit (mexc-bydbit.com) is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Good analytical tools|Dedicated account manager|Responsive team
Cons: Charting tools need more indicators
MEXC-bydbit (mexc-bydbit.com) had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Risk management tools|Dividend tracking|Segregated accounts
Cons: Help articles are sometimes vague|Limited demo account features
I lost a significant amount because MEXC-bydbit (mexc-bydbit.com) did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Dedicated account manager|High security standards|Educational resources|Fast support response
Cons: Desktop app not available on Linux