1. What is Pre-Market Trading Pre-Market Trading is an over-the-counter (OTC) service offered by MEXC. It gives traders the opportunity to buy and sell new tokens before they are officially listed on1. What is Pre-Market Trading Pre-Market Trading is an over-the-counter (OTC) service offered by MEXC. It gives traders the opportunity to buy and sell new tokens before they are officially listed on

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MEXC Pre-Market Trading Guide: Complete FAQ & How to Trade Before Listing

Dec 20, 2025MEXC

1. What is Pre-Market Trading

Pre-Market Trading is an over-the-counter (OTC) service offered by MEXC. It gives traders the opportunity to buy and sell new tokens before they are officially listed on cryptocurrency exchanges. This trading method allows buyers and sellers to set their own prices and match orders accordingly, enabling you to trade at your desired price. With MEXC Pre-Market Trading, you can gain a competitive edge before tokens enter the open market. Always familiarize yourself with the trading process and requirements to maximize your trading success.

2. Pre-Market Trading Rules

1）On MEXC Pre-Market, users can buy and sell tokens before they are officially launched.

2）Traders can place buy or sell orders at their expected prices within the Pre-Market. Orders will be matched with the best available counterparty prices, with traders acting as either Makers or Takers based on market conditions.

3）When a match occurs between buyers and sellers, the transaction price is determined by the Maker's order price.

4）Both buyers and sellers are required to pledge collateral on MEXC to ensure timely settlement.

5）Upon successful delivery, the seller's collateral is returned after settlement; for buyers, the collateral is applied toward payment during settlement.

6）Currently, Pre-Market Trading is conducted under the MEXC Spot account.

3. How to Conduct Pre-Market Trading

3.1 As a Buyer

Create an Order: Select the token you wish to purchase, enter the order quantity and price, then submit your buy order.

Order Matching: Wait for your order to be matched with a counterparty. Once matched, simply wait until the delivery time to receive your tokens. If your order is executed as a Taker and the counterparty's price is lower than your order price, a portion of your collateral will be unfrozen proportionally based on the price difference.

Order Settlement: At the delivery time, you will receive tokens from your counterparty. If delivery fails, the platform will refund your full order amount and provide compensation. The compensation amount equals: counterparty's filled ratio × counterparty's collateral amount. (Note: In cases of "sell low, buy high" where the buyer is the Maker, the seller's collateral is still calculated as: seller's order price × quantity × collateral rate. Therefore, the buyer's compensation may be less than the buyer's collateral.)

3.2 As a Seller

Create an Order: Select the token you wish to sell, enter the order quantity and price, then submit your sell order.

Order Matching: Wait for your order to be matched with a counterparty. Once matched, ensure you have the corresponding tokens ready before the delivery time.

Order Settlement: Make sure your Spot account has sufficient tokens to complete delivery when the delivery time arrives. Otherwise, your collateral will be forfeited.

For more detailed information on the Pre-Market trading process, please refer to the "Pre-Market Trading Guide" and "What is MEXC Pre-Market Trading" articles.

4. How to Complete Settlement

4.1 As a Buyer

When placing an order, the buyer's collateral and fees are frozen. After the order is filled, simply wait for the delivery date.

If the seller fulfills their obligation, the buyer receives the corresponding amount of tokens, with collateral and fees deducted during settlement.

If the seller defaults, the buyer's collateral is unfrozen and they receive the seller's collateral as compensation (calculated as: seller's order price × quantity × collateral rate), while trading fees are still deducted.

4.2 As a Seller

When placing an order, the seller's collateral and fees are frozen. During the delivery period, ensure your Spot account holds sufficient tokens to fulfill your delivery obligation.

Upon successful token delivery, the seller's tokens are transferred to the buyer's account, and the seller receives payment in their Spot account. The collateral is unfrozen and returned, with trading fees deducted.

If token delivery fails, all of the seller's collateral is forfeited. A portion may be collected by the platform as a liquidation fee, with the remainder given to the counterparty as compensation. Currently, MEXC does not charge any fees, and the entire collateral goes to the buyer as compensation.

Please note that trading fees are still charged even in cases of failed delivery. MEXC only refunds fees when orders remain unfilled or when a project's listing is canceled.

5. Can Pre-Market Orders Be Canceled

Pending and partially filled orders can be canceled at any time. Fully filled orders cannot be canceled, and you must wait for settlement to complete.

If a token's listing is delayed, filled orders remain valid, and a new delivery time will be announced separately.

If a token's listing is canceled, filled orders will be fully refunded, and unfilled orders will be canceled.

6. What is Delivery Time

Delivery time refers to the designated period during which the seller transfers the full amount of tokens agreed upon in the Pre-Market trade to the buyer. For specific delivery times, please refer to the token information on the Pre-Market Trading page.

7. Pre-Market Trading Fees

7.1 Fee Structure

Trading Fees: Generally, fees are charged as a specific percentage of the total transaction value. Currently, MEXC has set Pre-Market trading fees to 0.

Other Fees: Generally, when a seller fails to complete delivery within the specified time, the platform collects a portion of the seller's collateral as a handling fee, with the remainder going to the buyer as compensation. Currently, MEXC does not charge any fees, and the entire collateral goes to the buyer as compensation.

Please note that unfilled orders do not incur any fees. Additionally, Pre-Market trading fees differ from those in other MEXC markets. For specific fee information, please check the token details on the MEXC Pre-Market Trading page.

7.2 Trading Fees

Buyer trading fees consist of order value multiplied by the fee rate. Seller trading fees consist of collateral amount multiplied by the fee rate.

Fee Rate: A specified percentage based on transaction value that varies depending on the token being traded. For the fee rate of a specific token, please check the token details page on the MEXC Pre-Market Trading page.

7.3 Collateral Rate

The collateral rate represents the portion of order value that must be pledged as collateral. Failure to complete delivery within the specified time may result in loss of collateral.

The collateral rate is determined by considering various factors, including the token's inherent risk and market conditions. For the collateral rate of a specific token, please check the token details page on the MEXC Pre-Market Trading page.

7.4 Frozen Amount in Pre-Market Trading

Buyer's frozen amount = Order value

Seller's frozen amount = Order value × Collateral rate (Z%)

For example, if Z = 100%, the frozen amount for buying or selling 1,000 USDT worth of Pre-Market tokens = 1,000 USDT × 100% = 1,000 USDT.

7.5 Late Delivery Fees

Generally, when a seller fails to complete delivery within the specified time, the platform collects a portion of the seller's collateral as a handling fee, with the remainder going to the buyer as compensation. Currently, MEXC does not charge any fees, and the entire collateral goes to the buyer as compensation.

8. Partial Fills

The new version of Pre-Market Trading now supports partial fills. Buy and sell orders are matched according to the principle of "price priority, time secondary," matching with the best available price in the counterparty's order book.

9. Does Pre-Market Trading Affect the Listing Price on MEXC

Prices in the MEXC Pre-Market market are determined by the market behavior of buyers and sellers, and may not accurately reflect the actual launch price of a new token. While Pre-Market trading can reflect market expectations, the token's actual listing price may be influenced by various other factors, and there is no direct correlation between the two.

10. What Are the Risks of Pre-Market Trading

For sellers, failure to deliver the full amount of tokens on time will result in the loss of the order's collateral.

For buyers, if the seller fails to deliver the full amount of tokens or deliver on time, the buyer will receive corresponding compensation but will not receive the tokens.