MEXC, Gate.io, and BingX round out the 9 venues OpenRate tracks. Their Indian P2P is small but occasionally profitable to watch.
MEXC
MEXC's INR P2P sits at 1-3% of total India volume. The platform is popular for altcoin spot trading; P2P is mostly a side feature. Spreads are wide during low-activity hours.
Gate.io
Gate has a small but loyal INR merchant pool. Pricing is competitive on smaller clip sizes. Withdrawal fees on Gate's TRC-20 USDT are among the lowest in the industry.
BingX
BingX is the youngest of the 9. Indian P2P is thin, but the platform runs occasional promotional periods with subsidised spread. Worth checking if you're already using it for copy-trading.
Common considerations
All three are FIU-registered. All three have lower trade volumes than Binance/Bybit/OKX, so depth is the binding constraint. For trades >₹5L, it's usually faster to go to a bigger venue and accept the slightly worse rate.
Arbitrage windows do open on these venues — when one of them lags the bigger market by 50 paise+, that's a meaningful chunk of net P&L on a 1L trade. OpenRate's markets tab is the cheapest way to spot these.
Key takeaways
- MEXC, Gate, BingX: 1-3% of India volume each.
- Useful for arbitrage when one lags by 50 paise+ from the leader.
- Depth is the binding constraint on big trades.
- All FIU-registered post-2024.
