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 listed1. 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
MEXC Pre-Market Trading Guide: How to Trade Tokens Before Listing & FAQ
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 the exchange. This trading method allows buyers and sellers to set their own prices and match orders accordingly, enabling users to trade at their desired price. MEXC Pre-Market Trading lets traders gain a competitive edge before tokens enter the open market. However, users must familiarize themselves with the trading process and requirements to maximize their 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, collateral is used for 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 as a taker order. Once matched, 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 in proportion to the price difference.
Order Settlement: During settlement, you will receive tokens from your counterparty. If they fail to deliver, the platform will refund your full order amount and provide compensation from the counterparty's collateral based on their filled order percentage. If the buyer places a Maker order at an unfavorable price (sell low or buy high), the compensation is calculated based on the seller's original price. This means buyers may receive compensation that is lower than their own collateral in this scenario.
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 settlement 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, wait for the settlement time.
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 the buyer receives the seller's collateral as compensation. This is calculated as the seller's order price multiplied by quantity and 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 settlement period, ensure your Spot account holds the sufficient token amount to fulfill your delivery obligation.
Upon successful token settlement, 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 service 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.
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. Filled orders cannot be canceled, and you must wait for the 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 Settlement Time?
Settlement 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 settlement times, please take a look at the token information on the Pre-Market Trading page.
7. Pre-Market Trading Fees
7.1 Fee Structure
Trading Fees: Fees are generally 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 handling fee from a portion of the seller's collateral, 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.
Unfilled orders do not incur any fees. Additionally, Pre-Market trading fees differ from those in other MEXC markets. For specific fee information, you can check the token details on the MEXC Pre-Market Trading page.
7.2 Trading Fees
Buyer trading fees are calculated as the order value multiplied by the fee rate. Seller trading fees are calculated as the 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 the 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 factors such as 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 x 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 x 100% = 1,000 USDT.
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, various other factors may influence the token's actual listing price, 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.
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