MKX FAQ: accounts, verification, fees, AED and crypto transfers
MKX accounts are open to adults aged 18 or over who pass identity verification with an Emirates ID or passport; trades cost 1.5%, dirhams move by UAE bank transfer, and complaints are acknowledged in writing within one week.
Risk warning Virtual Assets may lose their value in full or in part, and are subject to extreme volatility. The owner and/or investor in the Virtual Asset can lose all the money or other value they invest, and does not benefit from any form of financial protection. For information only, not investment advice.
Account and verification
Who can open an MKX account?
Individuals aged 18 or over who pass identity verification can open an MKX account. The MKX terms set the minimum age at 18, and the licence condition on the VARA public register permits MKX to serve retail, qualified and institutional investors. Business accounts are offered as well, but the documents a company must supply are not published. The home page sets out what MKX offers.
Which documents do I need to verify my identity?
An Emirates ID or a passport, followed by a liveness check. MKX's product pages describe verification as an ID upload and a liveness check, and say it is usually completed within minutes. Whether proof of address or source of funds is also requested is not published. KYC and the liveness check are defined in the glossary of terms.
Can I buy USDT without verification?
No. MKX asks for an ID upload and a liveness check before a client can trade, so there is no way to buy USDT at MKX without verifying your identity. The next steps are on the page about how buying USDT works at MKX. The guide on how to buy USDT in Dubai compares the other routes.
Can visitors or non-residents open an account?
MKX does not publish a residency requirement, so this page cannot confirm it either way. Two published facts narrow it down: verification accepts an Emirates ID or a passport, and dirhams are deposited by bank transfer from a local UAE bank account. Without a UAE bank account there is no stated way to fund in AED, so ask MKX support before you register.
Can I send USDT bought through MKX to a wallet in another country?
Yes, as far as the published terms go: an external withdrawal goes to a wallet address on a blockchain, wherever its owner lives. MKX verifies you, the account holder; the laws of the receiving country apply to the person who receives the USDT. Whether MKX screens or restricts destination addresses is not published.
Account requirements
Last reviewed
- Minimum age
- 18
- Identity document
- Emirates ID or passport
- Second check
- Liveness check
- Funding method
- AED bank transfer from a local UAE bank account
Sources: MKX terms and MKX product pages, read on 6 October 2026.
Fees
What does MKX charge per trade?
1.5% of each transaction. The MKX Fee Schedule lists the same rate for AED to crypto, crypto to AED and crypto to crypto, which comes to AED 1.50 on every AED 100 traded. No spread is published, so read the final price on the trade execution screen as well. Every figure is in the full fee schedule.
Are there deposit fees?
No. MKX charges 0% on an AED bank deposit and 0 on a crypto deposit of any listed asset. Minimums apply: AED 380 for a bank deposit and, for crypto, 1 USDT, 1 USDC or 0.000007 BTC, for example. Your own bank may charge you for sending the transfer; that charge is set by the bank, not by MKX.
What do withdrawals cost?
An AED withdrawal to your bank costs 30, with a minimum of AED 100; the Fee Schedule does not state the unit of that fee. A crypto withdrawal to an external wallet costs a fixed amount per asset, for example 5 USDT or 0.0001 BTC, and an internal transfer costs 0. A sale before the withdrawal carries the 1.5% trading fee: see how selling USDT works at MKX.
Fees at a glance
Last reviewed
- AED bank deposit minimum AED 380
- 0%
- AED bank withdrawal minimum AED 100
- 30
- Crypto deposit every listed asset
- 0
- Every trade AED to crypto, crypto to AED, crypto to crypto
- 1.5%
Source: MKX Fee Schedule, read on 6 October 2026. The schedule shows no date of its own.
AED deposits and withdrawals
How do I fund my account in AED?
By bank transfer in dirhams from a local UAE bank account, which is the funding method MKX's buy pages state. The minimum deposit is AED 380 and MKX charges 0% on it. Whether the sending account must be in your own name is not published, so ask support before you send from a joint or a company account.
How long do AED deposits and withdrawals take at MKX?
MKX does not publish processing times for AED deposits or AED withdrawals. The time your bank takes to send or receive a transfer comes on top and is outside MKX's control. If a transfer has not arrived when you expected it, send the bank's transfer reference to MKX support so that the payment can be traced.
Can I pay by card, Apple Pay or cash?
Not as far as this page can confirm. The stated way to fund an MKX account is an AED bank transfer from a local UAE bank account. Card payments, Apple Pay, Google Pay and cash are not confirmed as available, so check with MKX support before you plan around any of them.
Before you send a bank transfer
Send dirhams from a local UAE bank account, AED 380 or more. Keep the bank's transfer reference until the amount shows in your MKX balance: it is what support needs to trace a payment.
Crypto transfers and networks
Which assets and networks does MKX support?
Ten assets are on the MKX Fee Schedule: BTC, ETH, XRP, SOL, BNB, USDT, USDC, TRX, POL and ARB. USDT is listed on five networks (ERC20, BEP20, TRC20, Polygon-POS and SOL) and USDC on two (ERC20 and BEP20); each of the other eight has one. Bitcoin moves on its own network only: see how buying Bitcoin works at MKX.
What happens if I use the wrong network?
The assets may not arrive, and a transfer on a blockchain cannot be reversed. The sending and receiving network must match: a deposit has to be sent on the network of the deposit address MKX shows you, and a withdrawal has to go to a wallet that supports the network you choose. Whether MKX can recover assets sent on the wrong network is not published. If it happens, send the transaction hash to MKX support at once.
What are the minimum crypto withdrawals?
The minimum depends on the asset: 15 USDT, 15 USDC, 0.003 BTC, 0.008 ETH, 10 XRP, 0.1 SOL, 0.0075 BNB, 50 TRX, 30 POL and 45 ARB. The Fee Schedule shows a single minimum for each asset. Maximum and daily limits are not published. The fee for each asset is on the MKX fees page.
Minimum crypto withdrawal
Last reviewed
- USDT ERC20, BEP20, TRC20, Polygon-POS, SOL
- 15
- USDC ERC20, BEP20
- 15
- BTC BTC network
- 0.003
- ETH ERC20
- 0.008
- XRP XRP network
- 10
- SOL Solana
- 0.1
- BNB BNB network
- 0.0075
- TRX TRC20
- 50
- POL Polygon POS
- 30
- ARB Arbitrum One
- 45
Amounts in units of the asset, with the networks named on the MKX Fee Schedule.
Security and protection
How are my assets held?
Virtual assets are held in a hosted Digital Asset Wallet and dirhams in a Client Money Account. The MKX terms name the Wallet Custody Services Provider: Fireblocks, and describe multi-signature hot and cold storage wallets. Client money is held in a designated safekeeping account with a regulated financial institution licensed in the UAE, which the terms do not name. More detail: how client assets are held.
Is my money covered by deposit protection?
No. The MKX terms state that clients' Virtual Assets and Fiat Assets are not covered by any deposit protection mechanism from MKX. The Client Money Account is described there as not a deposit or investment account, and funds in it will not earn interest. No insurance cover is published. The terms and conditions page has the summary.
Not covered by deposit protection
The MKX terms state: "Clients' Virtual Assets and Fiat Assets are not covered by any deposit protection mechanism from MKX."
Regulation
Is MKX licensed?
Yes. MKX Virtual Assets Broker & Dealer Services L.L.C. is licensed by the Dubai Virtual Assets Regulatory Authority (VARA) for Broker-Dealer Services, reference VL/25/04/001. The VARA public register shows a VASP Licence issued on 18 April 2025 with the status Active, and a condition that permits MKX to serve institutional, qualified and retail investors. See the licence details and register link.
How can I check the licence myself?
Open the MKX entry on the VARA public register and compare four fields with this site: the name MKX Virtual Assets Broker & Dealer Services L.L.C., the reference VL/25/04/001, the status Active and the website https://www.mkx.ae/. If a field differs, stop and ask before you send money. The method for any firm is in the guide is cryptocurrency legal in Dubai.
Licence record
Verified
- Entity
- MKX Virtual Assets Broker & Dealer Services L.L.C.
- Regulator
- Dubai Virtual Assets Regulatory Authority (VARA)
- Reference
- VL/25/04/001
- Activity
- Broker-Dealer Services
- Issued
- 18 April 2025
- Status
- Active
Source: VARA public register, entry for MKX.
Complaints and support
How do I make a complaint?
Email [email protected], call 04-2977655, use the contact page or visit the office in person. MKX acknowledges a complaint in writing by email within one week and responds in writing within four weeks, or within eight weeks in extraordinary cases. You can appeal within four weeks, and an appeal is reviewed within two weeks. No fee is charged. The steps are in the complaints handling policy.
How do I reach MKX support?
Email [email protected] or call +971 50 757 8525. The office is at Office No 4001, Concorde Tower 1, Al Thanyah Fifth, Dubai, UAE. Support hours are not published. For a question about a transfer, include the transaction hash or the bank's transfer reference so that the team can trace it. Every channel is on the page where you can contact MKX support.
Support channels
MKX, Dubai
- [email protected]
- Phone
- +971 50 757 8525
- Complaints line
- 04-2977655
- Office
- Office No 4001, Concorde Tower 1, Al Thanyah Fifth, Dubai, UAE
Sources: MKX contact page and complaints handling policy, read on 6 October 2026.
Complaint deadlines
MKX complaints handling policy
- Acknowledgement
- In writing, within 1 week
- Written response
- Within 4 weeks
- Extraordinary cases
- Within 8 weeks
- Appeal
- Within 4 weeks, reviewed within 2 weeks
- Fee
- None
Did not find your answer?
Write to MKX support and say which question this page left open. The MKX Learn guides cover buying, selling and the Dubai rules in more depth. Virtual assets are volatile and you can lose all the money you invest.