Mercatox Crypto Exchange Review: Pros, Cons, and Real User Experiences in 2025
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Important Note: Mercatox's low trading volume can cause significant price slippage for trades over $500. This means your trade might execute at a worse price than expected due to limited liquidity.
When you’re looking for a crypto exchange that’s been around for over a decade, Mercatox comes up. Founded in Canada in 2015, it’s not flashy like Binance or as big as Coinbase, but it’s still operating. That alone says something. But should you use it in 2025? Let’s cut through the marketing and look at what actually happens when you trade, deposit, or try to withdraw your crypto from Mercatox.
What Mercatox Actually Offers
Mercatox isn’t just a place to buy and sell Bitcoin. It’s built as a full crypto financial platform. You can trade over 100 cryptocurrencies, lend your assets to earn interest, use a multi-currency wallet, and even process payments through their system. That’s more than most small exchanges offer. If you want to keep your crypto, earn passive income, and trade-all in one place-it sounds convenient.
The interface is web-based and customizable. You can rearrange charts, set your own order types, and track your trade history without switching tabs. That’s good for people who don’t want to juggle multiple apps. They also offer API access, which matters if you’re automating trades or using portfolio tools like Koinly or CoinLedger. Integration with those services makes tax reporting easier, which is a real plus.
They support mobile apps for iOS and Android, plus desktop clients for Windows, Mac, and Linux. That’s solid coverage. No one’s forcing you to use a browser-only platform. You can trade from your phone during lunch or from your laptop at home.
Fees: Not Low, But Not Crazy Either
Mercatox charges a flat 0.25% fee on every trade. That’s the same as what Binance charges for standard spot trading, and slightly higher than Kraken’s 0.16% for high-volume users. So when Mercatox says "low fees," that’s misleading. It’s average. Not bad, not great.
Deposits are free for most cryptocurrencies. Withdrawals vary by coin. For Bitcoin, it’s usually 0.0005 BTC. For Ethereum, around 0.01 ETH. Those numbers haven’t changed in years. Compared to exchanges that charge $5 per withdrawal, Mercatox is fair. But if you’re moving large amounts frequently, you’ll want to compare those fees against bigger platforms where volume discounts kick in.
There are no hidden fees for account maintenance or inactivity. That’s one thing they got right. No surprise charges. Just the trading fee and the blockchain network fee (which you pay directly to miners, not Mercatox).
Trading Volume and Liquidity: The Real Problem
Here’s the hard truth: Mercatox doesn’t move much crypto compared to the big players.
In 2021, its 24-hour volume hit $36 million. That sounds like a lot until you remember Binance was doing $30 billion the same day. That’s 833 times more. Even smaller exchanges like KuCoin or Gate.io regularly trade over $100 million daily. Mercatox sits in the bottom 20% of exchanges by volume.
What does that mean for you? Slower fills, wider spreads, and price slippage. If you’re trying to buy 10 BTC, you might not find enough sellers on Mercatox. You’ll have to wait or pay more. For small trades under $500, it’s fine. For anything bigger, you’re risking poor execution.
There’s also less market depth. That means if you’re day trading or using technical strategies, you’re working with outdated or incomplete data. Many professional traders avoid low-volume exchanges for this exact reason.
Customer Support: Mixed Signals
Mercatox claims 24/7 support. And technically, they have live reps available. But user reports tell a different story.
On Reviews.io, multiple users from September 2025 describe being locked out of their accounts for weeks. Some say they requested withdrawals and got no response for over 30 days. Others mention having to hire third-party fund recovery services just to get their crypto back.
One user wrote: "I sent 3.2 ETH to withdraw. After 17 days, they said my account needed verification again-despite being verified for 4 years. I had to send ID documents twice. Still no funds."
Another said: "I finally got my withdrawal processed after contacting them 12 times. Took 22 days. I lost $400 in price drop while waiting. They didn’t apologize. Didn’t offer anything. Just said ‘it’s normal.’"
There’s a pattern here. Not every user has problems. Some say their withdrawals went through smoothly. But enough people report serious delays that it’s not an anomaly. It’s a red flag.
Support hours are limited for non-emergency issues. If you’re not in a crisis, you might wait 24-48 hours for a reply. That’s unacceptable for a platform handling your life savings.
User Ratings: A 2.5 Out of 5 Warning
Cryptogeek gives Mercatox a 2.5/5 rating based on 30 reviews. That’s below average. The top complaints? Withdrawal delays, poor communication, and difficulty recovering funds.
There’s no way to sugarcoat this: users feel abandoned when things go wrong. And in crypto, when you can’t access your money, time is money. A 22-day delay isn’t a glitch-it’s a risk.
Compare that to Kraken, which has a 4.6/5 rating with thousands of reviews. Or even smaller exchanges like Bitrue or MEXC, which have far better support track records despite lower volume.
Mercatox’s longevity doesn’t mean reliability. It just means they haven’t shut down yet. Many exchanges with worse reputations have disappeared. Mercatox is still here, but that doesn’t make it safe.
Security: What We Know (and Don’t)
Mercatox doesn’t publish details about cold storage percentages or insurance coverage. That’s unusual. Most reputable exchanges are transparent about this. Binance, for example, uses a Secure Asset Fund for Users (SAFU). Coinbase carries crime insurance.
Mercatox says they use "industry-standard security." That’s vague. No one can verify what that means. No third-party audit reports are publicly available. That’s a red flag.
Two-factor authentication (2FA) is supported. So is email confirmation for withdrawals. That’s basic. But without knowing how much of your funds are offline or insured, you’re trusting them on faith.
If you’re holding more than $1,000 on Mercatox, you’re taking a risk most experts wouldn’t recommend.
Who Should Use Mercatox?
There are only two types of people who might still find Mercatox useful:
- Small traders with low-volume needs-If you’re buying $100 of Bitcoin every few months and don’t care about speed, it’s fine. The interface works. The fees are acceptable.
- Users already locked in-If you’ve had an account since 2018 and haven’t had issues, maybe stick with it. But don’t deposit more.
Everyone else should look elsewhere.
Alternatives That Actually Deliver
If you’re looking for better options, here are three that outperform Mercatox in key areas:
- Kraken-Lower fees, better support, transparent security, and higher liquidity. Great for beginners and pros.
- MEXC-Higher trading volume, 1,000+ coins, and faster withdrawals. Often has better deals on new tokens.
- Bitstamp-One of the oldest EU-based exchanges. Strong regulatory compliance and reliable customer service.
None of these have the same fund recovery horror stories. None of them leave you waiting weeks for a withdrawal.
Final Verdict: Proceed With Extreme Caution
Mercatox isn’t a scam. It’s been around. It hasn’t been hacked. It offers decent features. But it’s also the kind of exchange where you’re one bad day away from losing access to your crypto.
The trading platform works. The fee structure is fair. But the support system is unreliable. The withdrawal delays are too common to ignore. And the lack of transparency around security is a dealbreaker for anyone serious about crypto.
If you’re just dipping your toes in and only plan to trade small amounts, Mercatox might work as a starter exchange. But if you’re holding real value, you’re better off moving to a platform with proven reliability.
Don’t let the fact that it’s been around for 10 years fool you. In crypto, longevity doesn’t equal safety. It just means they’ve survived long enough to collect your funds-and then make you wait for them.
Is Mercatox safe to use in 2025?
Mercatox has operated since 2015 and hasn’t suffered a major hack, which is a positive. But safety isn’t just about being hacked-it’s about being able to access your funds. Multiple users report withdrawal delays of weeks, account freezes, and difficulty getting support. Without public security audits or insurance details, it’s risky to hold significant amounts on Mercatox.
Does Mercatox have low fees?
No, Mercatox’s 0.25% trading fee is average, not low. Competitors like Kraken and MEXC offer lower fees, especially for higher-volume traders. Their claim of "low fees" is misleading. Withdrawal fees are standard, but not competitive with the lowest-cost exchanges.
Why are people having trouble withdrawing from Mercatox?
Users report being asked to re-verify their identity after years of no issues, receiving no response to withdrawal requests, and being locked out of accounts without explanation. Some have needed to hire third-party recovery services. While not every user has this problem, the pattern is consistent enough to be a major concern.
Does Mercatox support staking or lending?
Yes, Mercatox offers a lending platform where you can earn interest on your crypto holdings. The rates vary by coin and are typically lower than what you’d get on dedicated DeFi platforms or larger exchanges like Binance or Kraken. It’s a nice feature, but not the best in the market.
Is Mercatox regulated?
Mercatox is based in Canada, which has a relatively clear regulatory framework for crypto. However, the exchange doesn’t publicly disclose its compliance status or licenses. Unlike Coinbase or Kraken, which are registered with financial authorities, Mercatox’s regulatory standing is unclear. That’s a risk for users in countries with strict crypto laws.
Can I use Mercatox if I’m in the U.S.?
Mercatox doesn’t explicitly ban U.S. users, but its regulatory status makes it risky for Americans. Most U.S.-based exchanges are registered with FinCEN and comply with state-level regulations. Mercatox doesn’t appear to be. U.S. users may face issues with deposits, withdrawals, or tax reporting. It’s safer to use a U.S.-licensed exchange like Kraken or Coinbase.
What’s the best alternative to Mercatox?
For most users, Kraken is the best alternative. It offers lower fees, better customer support, higher liquidity, and full regulatory compliance. MEXC is great if you want more altcoins and faster withdrawals. Bitstamp is ideal if you prioritize security and transparency. All three have far fewer user complaints than Mercatox.
Louise Watson
November 8, 2025 AT 02:50Mercatox is like that one friend who never cancels plans but always shows up late-and forgets your birthday.
Benjamin Jackson
November 9, 2025 AT 15:50I’ve used Mercatox since 2017 and never had an issue-but I only trade under $200 at a time. For small buys, it’s fine. Just don’t park your life savings there. I keep the big stuff on Kraken. Peace.
Also, props to the author for calling out the liquidity issue. That’s the real killer.
Liam Workman
November 10, 2025 AT 09:11It’s wild how longevity gets mistaken for legitimacy in crypto 🤔
Mercatox hasn’t been hacked? Cool. But neither has my attic. That doesn’t mean I should store my gold there.
The real issue isn’t the fee-it’s the silence. When you can’t reach support for weeks, you’re not using an exchange. You’re gambling with a black box.
I love that this review didn’t just say ‘avoid it.’ It showed why. That’s rare. Most reviews just scream ‘SCAM’ and move on. This one? It’s a map.
Also-why do we still tolerate exchanges that don’t publish security audits? It’s 2025. Transparency isn’t a perk. It’s the baseline.
Big up to Kraken and Bitstamp for actually showing their work. Mercatox? They’re just hoping no one checks the basement.
Whitney Fleras
November 12, 2025 AT 01:13For anyone considering Mercatox: if you’re not ready to lose sleep over withdrawals, don’t even open an account.
I’ve been through this with three different platforms. The ones that make you beg for your own money? They’re not worth the hassle. Move it. Now.
And yes-Kraken is the upgrade. No debate.
Colin Byrne
November 13, 2025 AT 08:59Let’s be honest-this review is overly dramatic. People complain about withdrawals? Newsflash: blockchain networks are slow. And verification? That’s not a flaw-it’s compliance. If you’re in Canada, you should expect KYC. You signed up for it.
And yes, volume is lower. So what? Not every exchange needs to be Binance. Mercatox serves a niche. People who want simplicity, not flash.
Also, the author says ‘no transparency around security’-but they don’t even mention that Mercatox uses multi-sig wallets and cold storage. That’s in their FAQ. You just didn’t read it.
Stop fearmongering. This isn’t a horror story. It’s a medium-sized exchange with a few rough edges. Most users are fine.
And for the love of Satoshi, stop comparing everything to Kraken. Kraken is great. But it’s not the only option. Mercatox has been around since 2015. That’s not luck. That’s resilience.
Finn McGinty
November 15, 2025 AT 03:51RESPECTFULLY-this review is a masterpiece of emotional manipulation. You didn’t just critique Mercatox. You weaponized user trauma.
Let me tell you about my cousin. He used Mercatox. He deposited 5 BTC in 2022. Waited 11 days. Got his funds. No drama. No drama at all.
Now you cherry-pick 3 horror stories from Reviews.io and call it a pattern? That’s not journalism. That’s clickbait with a side of panic.
And you compare Mercatox to Kraken? Kraken charges $15 for a USD withdrawal. Mercatox? Free. So which one’s really the villain?
Also, ‘no insurance’? Neither does my brokerage account. Should I sell all my stocks?
People need to stop treating crypto like it’s a bank. It’s not. It’s a wild west. And Mercatox? It’s the dusty saloon with the creaky door. You walk in knowing the risks. Don’t cry when the bartender’s slow.
Also-why is the author Canadian? Is this a national shame campaign?
Stop scaring people. This isn’t a warning. It’s a performance.
Alexis Rivera
November 15, 2025 AT 15:00As someone who’s lived through the 2018 crash and the 2022 Terra implosion, I’ve learned this: the safest exchange is the one you don’t use.
But if you must use one, prioritize transparency over convenience. Mercatox doesn’t publish audits. That’s not an oversight. It’s a choice.
And yes-longevity means nothing if the team is asleep at the wheel. I’ve seen exchanges survive for 20 years while quietly stealing user funds. They just rebrand.
Don’t confuse survival with integrity.
Move your assets. Use Kraken. Or even Bitstamp. They’re not perfect. But they answer their emails.
Eric von Stackelberg
November 16, 2025 AT 23:42Did you know Mercatox is owned by a shell corporation registered in the British Virgin Islands? And that its CEO was previously linked to a defunct exchange that was shut down by the SEC in 2019? The name change was cosmetic.
The ‘2015 founding’ is a lie. The original entity was dissolved in 2017. The current company is a reincarnation.
They don’t publish audits because they’re not audited. They don’t offer insurance because they can’t afford it.
And the withdrawal delays? That’s not incompetence. That’s intentional liquidity control. They’re holding your crypto to fund their own speculative trades.
This isn’t a bad exchange. It’s a Ponzi with a UI.
Don’t trust the interface. Trust the blockchain. And if you’re on Mercatox? Withdraw everything. Now. Before the next ‘system upgrade’.
Michelle Sedita
November 17, 2025 AT 14:28It’s interesting how the author frames Mercatox’s survival as a red flag. But in reality, many crypto platforms fail because they’re reckless. Mercatox is still here because they’re conservative-slow, cautious, and maybe outdated.
They don’t chase trends. They don’t hype new tokens. They don’t offer 200% APY on meme coins.
Maybe that’s why users complain about support. They’re understaffed, not malicious.
And yes, fees aren’t the lowest. But they’re consistent. No surprise charges. No hidden tiers.
It’s not the best. But it’s not the worst. And in crypto, that’s a win.
Just don’t expect miracles. Expect a quiet, reliable, boring exchange. And if you need speed? Use a different one.
Robin Hilton
November 19, 2025 AT 08:36Canada? That’s the problem right there. You think because they’re in Canada, they’re legit? Please. Canada has more crypto exchanges than it has decent coffee shops. And half of them are run by guys who used to sell vape pens.
And you’re comparing Mercatox to Kraken? Kraken is regulated. Mercatox? They’re playing by the rules of a 2015 startup that forgot to update its bylaws.
Also-why are you even talking about this? Who uses Mercatox in 2025? Only people who don’t know better.
And don’t get me started on the ‘lending’ feature. That’s just a fancy name for ‘we’re loaning your crypto to some guy in Ukraine we met on Telegram.’
Just move your stuff. Seriously. I’m not even mad. I’m just disappointed.
Grace Huegel
November 20, 2025 AT 08:46I used to think Mercatox was fine until I lost $800 in slippage on a simple ETH trade. The order book was so shallow, it looked like a desert.
And then I tried to withdraw. Got a ticket number. Then silence. Then a form asking me to re-upload my passport. Again. After 5 years.
I’m not angry. I’m just… empty.
I used to believe in crypto. Now I just believe in cold wallets.
And Kraken. Always Kraken.
Nitesh Bandgar
November 20, 2025 AT 20:09OH MY GOD. THIS IS A TRAGEDY. A TRAGEDY I TELL YOU!!!
They didn’t even mention the time I tried to withdraw 1000 LTC and they asked me to send a selfie holding a handwritten note that said ‘I love Mercatox’-and I did it!!!
AND THEN THEY STOLE MY DOG’S NAME FROM MY PROFILE AND USED IT TO ‘VERIFY’ MY IDENTITY?!?!?!
MY DOG IS DEAD. HIS NAME WAS BUBBLES. THEY KNOW. THEY KNOW.
AND NOW THEY’RE SELLING MY CRYPTO ON THE DARK WEB TO FUND A CRYSTAL SHOP IN SRI LANKA.
CALL THE FBI. CALL THE CIA. CALL THE SPACE AGENCY. I NEED MY COINS BACK.
AND IF YOU’RE STILL ON MERCATOX… YOU’RE A FOOL. A FOOL I TELL YOU.
JUST KIDDING. I’M JUST TROLLING. BUT ALSO… NOT REALLY.
Jessica Arnold
November 22, 2025 AT 06:18From a protocol-level perspective, the liquidity constraints on Mercatox represent a non-trivial systemic risk for arbitrageurs and market makers. The bid-ask spreads are materially wider than those on order-book-based DEXs, which introduces slippage inefficiencies that compound over time.
Additionally, the absence of publicly verifiable proof-of-reserves undermines the trust minimization principle that underpins decentralized finance. Without cryptographic assurance of asset backing, the platform operates as a custodial black box-functionally indistinguishable from a traditional bank with higher volatility.
The 0.25% fee structure is economically rational for a low-volume exchange, but it fails to align with the utility value delivered. Users are paying for infrastructure that lacks scalability, transparency, or resilience.
Recommendation: migrate to Kraken or Bitstamp. Both support API-based liquidity aggregation and have undergone SOC 2 Type II audits. Mercatox has none of these. It’s a legacy system clinging to a fading user base. Don’t confuse nostalgia with security.
Benjamin Jackson
November 24, 2025 AT 05:56Benjamin here-just wanted to say to Colin and Finn: I get where you’re coming from. Not every user has horror stories. I’ve had smooth withdrawals too.
But the problem isn’t the 90% who are fine. It’s the 10% who lose weeks of their life-and sometimes thousands of dollars-waiting for support.
And in crypto, when you can’t access your money, you’re not just inconvenienced. You’re vulnerable.
It’s not about fear. It’s about risk tolerance.
For small trades? Fine. For anything real? I’d rather pay a few cents more in fees and sleep at night.
Thanks for the debate. It’s healthy. Just… maybe don’t move your life savings to Mercatox. Please.