Cryptocurrency is becoming a hot topic in Morocco, with a surprising twist. In 2017, there was an official ban on digital assets, yet interest has soared. In 2023, it was reported that around 4.9% of Moroccans owned some form of cryptocurrencies. This ranks the country among the leaders in Africa for crypto adoption.
Fast forward to today, the government is taking steps to introduce regulations, recognizing the growing underground use and potential of crypto.
Cryptocurrency in Morocco isn’t just about the numbers; it’s about possibilities. From sending remittances abroad to bypassing traditional banking barriers, digital currencies are opening up new doors for people across the country.
But let’s be real—getting started with crypto can feel overwhelming. There’s the question of legality, security, and, most importantly, finding a way to safely buy, sell, and manage your digital assets. That’s where having up-to-date, accurate information is necessary.
This guide on the best crypto exchanges in Morocco will help you in your crypto, in a country on the verge of transformation.
Key Takeaways
- Despite a 2017 ban, crypto adoption in Morocco is growing, with increasing government interest in regulation.
- Platforms like UEEx, Bybit, Binance, and others excel in unique areas, from diverse crypto offerings to advanced trading tools.
- Exchanges like Kraken prioritize transparency through proof-of-reserves audits, while others, such as Binance, offer good security features.
- From UEEx’s fee discounts with UECoin to MEXC’s high leverage trading, each exchange offers tailored benefits for specific trader preferences.
| Exchange | Trading Fees | Best For | Max Leverage | Available Assets | Local Fiat Support – MAD (Moroccan Dirham) | Security Features | Unique Features |
| UEEx | 0.09% (discount of up to 50% with UE Coin holders). | Overall | 200x | 300+ | N/A | – Distributed cold storage, – Access control with IP and wallet whitelisting, – Proof of Reserve- Two-factor authentication (2FA) | UE Coin Miner app, copy trading, access to US and Hong Kong stocks, Advanced trading tools |
| Bybit | For spot trading, 0.005% – 0.1% for makers and 0.015% – 0.1% for takers. | Copy trading | 100x | 300+ | YES | 2FA, Cold storage | Extensive derivatives offerings, Copy trading, Trading bots |
| Binance | Standard fee of 0.1% per trade for both makers and takers | Institutional investors | 20x(for accounts less than 3 days)- Varies by asset | 500+ | YES | Cold storage, Encryption, 2FA, Secure Asset Fund for Users (SAFU) | High liquidity, margin and futures trading |
| Gate.io | For spot trading, 0% – 0.1% for makers and 0.02% – 0.1% for takers. | Diverse cryptocurrency selection | 100x | 1,400+ | YES | 2FA, Cold storage, PoR | Wide altcoin selection, IEO platform |
| Kraken | 0%–0.25% for makers and 0.10%–0.40% for takers. Credit card purchases cost 3.75% + €0.25. | Transparent proof-of-reserves | 50x | 200+ | N/A | FIDO2-based 2FA, Global settings lock (GSL) | One of the oldest cryptocurrency exchanges, and advanced tools for experienced traders |
| MEXC | 0.05% for makers and takers | High leverage trading | 400x | 2700+ | N/A | 2FA, Cold storage, whitelisting, Reserve rate that exceeds 100% | High leverage, simple mode and advanced mode |
| BingX | 0.1% maker/taker fee for spot trading.0.0200% maker fee, and 0.0500% taker fee, for perpetual futures. | Beginners seeking a user-friendly experience | Tiered, up to 150x | 800+ | YES | 2FA, Advanced firewall, ShieldX, 100% margin reserves, bank-grade custody solutions | Copy trading, grid trading, wide selection of languages, no-kyc trading, high leverage |
UEEx – Overall Best
Established in 2021, UEEx has emerged as a leading cryptocurrency exchange, serving users in over 160 countries. The exchange offers a comprehensive suite of services, including spot trading, margin trading, and savings options. This is in addition to supporting over 300 cryptocurrencies.
UEEx’s user-friendly interface and commitment to security make it a preferred choice for both novice and experienced traders. Notably, the exchange has reported over 1 million global registrations and a 125.35% month-over-month increase in trading volume, reflecting its growing popularity.
UEEx has a native token, UECoin, which offers benefits such as fee discounts of up to 50% and other rewards.
Pros
- Supports a wide range of cryptocurrencies, providing users with diverse trading options.
- Offers competitive fees, especially for UECoin users.
- Regular bonuses and promotions like trading competitions and lucky draws.
- Implements adequate security measures, including proprietary automated risk control technology.
Cons
- Relatively new in the market.
- Some advanced features are not available in certain regions.
Fees and Deposits
- Trading Fees: 0.09%, with up to 50% discount for UECoin holders.
- Deposits: Free for most methods.
- Withdrawals: Fees vary based on the cryptocurrency and network (e.g., 0.002 BTC for Bitcoin, 1 USDT for USDT on BSC and TRC20 networks). Transfers between UEEx accounts are free.
Bybit – Best for Copy Trading
Launched in 2018, Bybit has positioned itself as a premier platform for copy trading, allowing users to mirror the strategies of successful traders. This feature is particularly beneficial for newcomers in Morocco, looking to learn and earn simultaneously.
Bybit also provides several features, like spot trading, derivatives trading with leverage, advanced charting, and various order types. The exchange offers access to over 300 cryptocurrencies.
Pros
- Advanced copy trading features, enabling users to follow expert traders.
- High liquidity ensures smooth and efficient trading experiences.
- Access to a wide range of cryptocurrencies.
- Comprehensive educational materials support user learning and development.
Cons
- Not available in certain jurisdictions due to regulatory constraints.
Fees and Deposits
- Trading Fees: Varies depending on VIP and Non-VIP levels. For spot trading, 0.005% – 0.1% for makers and 0.015% – 0.1% for takers.
- Deposits: Free for cryptocurrencies.
- Withdrawals: Varies, depending on coin and chain selected.
Binance – Best for Institutional Investors
Since its inception in 2017, Binance has grown to become one of the largest cryptocurrency exchanges globally. The platform offers several services, such as tiered fee structure, with lower fees for higher-volume traders, tailored for institutional investors.
Institutional investors (or accredited investors) are organizations that invest money on behalf of others, such as individuals, shareholders, or clients. With advanced trading tools, high liquidity, and a comprehensive selection of cryptocurrencies, Binance meets the complex needs of large-scale traders in the country.
Pros
- Extensive range of cryptocurrencies and trading pairs.
- Advanced trading features, including futures and options.
- Adequate security protocols and a dedicated institutional support team.
- Competitive fees (0.00-0.45% maker/taker fees)
Cons
- Complex interface may be overwhelming for beginners.
- Previous regulatory scrutiny in various countries may affect operations.
Fees and Deposits
- Trading Fees: Standard 0.1% for makers and takers, reduced to 0.00825% (makers) and 0.01725% (takers) if paid in BNB.
- Deposits: Free for most cryptocurrencies; fiat deposit fees depend on the method (e.g., 0.65% for online banking in AED).
- Withdrawals: Fees vary based on the cryptocurrency and network conditions.
Gate.io – Best for Diverse Cryptocurrency Selection
Established in 2013, Gate.io is renowned for its extensive selection of cryptocurrencies, supporting over 3,500 coins. This diversity allows Moroccan traders to access a wide range of digital assets, including emerging tokens.
Gate.io’s commitment to innovation and user satisfaction has solidified its reputation in the crypto community.
Pros
- Extensive range of supported cryptocurrencies – over 3,500.
- User-friendly interface suitable for traders of all experience levels.
- Regularly updates its listings to include new and promising tokens.
Cons
- Higher trading fees compared to some other exchanges.
- Limited fiat currency support, which may inconvenience some users.
Fees and Deposits
- Trading Fees: Varies depending on VIP and Non-VIP levels. For spot trading, 0% – 0.1% for makers and 0.02% – 0.1% for takers.
- Deposits: Free for cryptocurrencies
- Withdrawals: Varies based on network type.
Kraken – Best for Transparent Proof-of-Reserves
Founded in 2011, Kraken is one of the oldest and most reputable cryptocurrency exchanges, known for its commitment to transparency and security. The platform regularly conducts proof-of-reserves audits, providing users with assurance regarding the security of their assets.
Kraken’s comprehensive services cater to both individual and institutional investors in the country.
Pros
- Regular proof-of-reserves audits enhance transparency.
- Adequate security measures, including two-factor authentication and cold storage.
- Wide range of supported cryptocurrencies and fiat pairs.
Cons
- Verification process can be time-consuming.
- Higher fees for certain services compared to other exchanges.
Fees and Deposits
- Trading Fees: 0%–0.25% for makers and 0.10%–0.40% for takers. Credit card purchases cost 3.75% + €0.25.
- Deposits: Free for cryptocurrencies; fiat deposit fees vary (e.g., $5 for USD wire transfers).
- Withdrawals: Fees vary by cryptocurrency; fiat withdrawals cost $5–$60 depending on the method.
MEXC – Best for High Leverage Trading
Since 2018, MEXC has gained recognition for offering high leverage trading options, appealing to traders seeking to maximize their positions. The platform provides leverage of up to 400x on certain futures contracts. It is also known for its efficient trading system and competitive fees.
MEXC’s high leverage feature enables traders to amplify their potential returns, though it comes with the added risk of greater losses. With its user-friendly interface and advanced tools, MEXC is a popular choice for experienced traders looking for a flexible platform.
Pros
- High leverage options, offering up to 400x leverage on futures.
- Low trading fees, which are attractive to high-frequency traders.
- Wide selection of cryptocurrencies, allowing users to trade in various markets.
- Advanced trading features, such as futures and margin trading.
Cons
- High risk with leverage, which can be intimidating for beginners.
- Limited educational resources for novice traders compared to other platforms.
- Withdrawal fees can be higher compared to some other exchanges.
Fees and Deposits
- Trading Fees: 0.05% for makers and takers on spot trading. 0.01% for makers and 0.04% for takers on Futures trading.
- Deposits: Cryptocurrency deposit is free
- Withdrawals: Varies, depending on coin and network.
BingX – Best for Beginners Seeking a User-Friendly Experience
BingX, launched in 2018, has quickly become a popular exchange, especially among beginners, thanks to its intuitive design and educational tools. The platform is well-known for its simple interface that makes it easy for new users to navigate, whether they are trading cryptocurrencies or learning about the market.
BingX supports over 800 cryptocurrencies, while offering features like spot trading, derivatives, and copy trading. This makes it versatile enough for both beginners and more experienced traders.
Pros
- No mandatory KYC for basic trading.
- User-friendly interface that is easy to navigate, even for beginners.
- Educational tools such as tutorials and market analysis to help new traders get started.
- Copy trading feature, allowing users to follow and copy the strategies of experienced traders.
- 24/7 customer support available to assist users with any issues.
Cons
- Limited advanced features for experienced traders who prefer complex trading tools.
- Fewer coin options compared to larger exchanges like Binance or Kraken.
- Users may find fiat deposit options somewhat limited in Morocco
- Liquidity issues in certain markets, especially for lesser-known coins.
Fees and Deposits
- Trading fees: Up to 0.1% maker/taker fee for spot trading. 0.0200% maker fee, and 0.0500% taker fee, for perpetual futures.
- Deposits: Free for Crypto-only; no fiat deposits supported.
- Withdrawals: Varies by blockchain network.
Factors to Consider When Choosing a Crypto Exchange in Morocco
Choosing the right cryptocurrency exchange is essential for successfully trading the crypto market. This is very important in a country like Morocco, where digital assets are gaining momentum despite regulatory complexities.
Below are key factors to consider when selecting a crypto exchange.
Regulatory Compliance and Security
The first consideration should always be the safety of your funds and personal information. A secure exchange should have adequate security protocols like two-factor authentication (2FA), cold storage, and proof-of-reserves audits. Also, ensure the platform operates within regulatory guidelines, even in a developing framework like Morocco’s.
UEEx stands out for its automated risk control technology, a proprietary feature aimed at detecting and mitigating security threats. The exchange also uses 2FA and cold storage for added security.
Kraken conducts regular proof-of-reserves audits, which offer users confidence that their funds are secure and backed. Binance, on the other hand, implements strong security measures such as SAFU (Secure Asset Fund for Users) and institutional-grade tools.
| Exchange | Insurance | Cold Storage % | Regulatory Status | Security Features |
| UEEx | Yes | 93% | FINTRAC registered | Multi-factor authentication, Access control with IP and wallet whitelisting |
| Binance | SAFU | 90% | FSMA registered | Cold storage, Encryption, 2FA, Secure Asset Fund for Users (SAFU) |
| Kraken | Yes | 95% | EU licensed | Proof of reserves, FIDO2-based 2FA, Global settings lock (GSL) |
| Bybit | Yes | 99.50% | SATOS partnership | Multi-sig wallets, Regular audits |
| Gate.io | Partial | 89.00% | Limited EU presence | Multi-layer security system, DDos protection, Cloud data risk control, 2FA |
| BingX | Yes (Self-insured) | Undisclosed | licensed | 2FA, Advanced firewall, ShieldX, 100% margin reserves, bank-grade custody solutions |
| MEXC | YES | Undisclosed | Limited license | 2FA, whitelisting, Reserve rate that exceeds 100% |
Range of Cryptocurrencies Supported
For traders and investors looking to diversify their portfolios, the range of cryptocurrencies supported by an exchange is a crucial factor. Gate.io offers a staggering selection of over 3,500 cryptocurrencies, including emerging tokens that are difficult to find elsewhere. UEEx, Binance and MEXC also provide a wide selection of cryptocurrencies.
Fees and Costs
The cost of trading, including deposit, withdrawal, and transaction fees, can significantly impact your overall profitability. For traders prioritizing cost-effectiveness, UEEx is a standout option, especially for UECoin users.
The exchange offers highly competitive trading fees of 0.09%, with up to a 50% discount for UECoin holders, making it an excellent choice for budget-conscious traders.
Bybit also features low fees, with makers paying as little as 0.005% for spot trading.
| Exchange | Spot Trading | Futures Trading | Deposit Fee | Withdrawal Fee (EUR) |
| UEEx | 0.09% (discount of up to 50% with UE Coin holders). | 0.05% | Zero | |
| Bybit | 0.10% | 0.055% | Zero | |
| Binance | Standard fee of 0.1% per trade for both makers and takers | 0% – 0.02% for maker and 0.017% – 0.05% for taker | Varies by coin/token and payment method | |
| Kraken | 0%–0.25% for makers and 0.10%–0.40% for takers. | 0.02-0.05% | Varies by coin/token and payment method | |
| BingX | 0.1% maker/taker fee | 0.02% maker fee, and 0.05% taker fee for perpetual futures trading.0.045% for standard futures trading. | Zero | |
| Gate.io | Maker/taker fees vary (0.1% or lower); discounts for GT holder | 0.05%/0.075% | Free | Varies depending on cryptocurrency |
| MEXC | 0.05% for makers and takers | 0.01% for makers and 0.04% for takers | Free | Varies depending on network |
User Experience and Interface
A user-friendly interface can make all the difference, especially for beginners who intend to start crypto trading. In this aspect, BingX is highly regarded for its simple and intuitive design, making it ideal for newcomers. Its copy trading feature and educational tools add further value for inexperienced users.
UEEx also offers a user-friendly platform, balancing simplicity with advanced features for experienced traders.
Advanced Trading Features
For experienced traders, access to advanced trading tools such as futures, leverage, and margin trading can be very important. MEXC offers leverage of up to 400x on futures contracts, appealing to those looking for high-risk, high-reward opportunities.
The likes of UEEx, Bybit and Binance also excel in copy trading, providing a full suite of advanced tools, including options and futures trading. This allows users to follow and replicate the strategies of seasoned traders.
Liquidity and Trading Volume
Liquidity ensures seamless trading and fair pricing. Exchanges with high liquidity are less prone to slippage, which is critical for large trades. Binance boasts some of the highest liquidity levels globally, making it an excellent choice for institutional investors and high-volume traders.
Bybit also offers high liquidity, ensuring smooth transactions even during periods of market volatility. UEEx on the other hand, has shown significant growth in trading volume, with a reported 125.35% month-over-month increase a few months ago.
Fiat Support and Deposit Methods
The ability to deposit and withdraw fiat currencies easily is a key consideration, particularly for users in Morocco, where fiat-to-crypto gateways are limited. Kraken provides good fiat support with multiple deposit methods, though fees may apply, such as $5 for USD wire transfers.
UEEx offers a wide range of fiat deposit options, including bank transfers and online payments, though fees vary by method. BingX, while beginner-friendly, has limited fiat deposit options, which may inconvenience Moroccan users.
| Exchange | Fiat Deposit Methods | Fiat Withdrawal Methods | Supported Fiat Currencies |
| UEEx | Bank transfer, Credit/debit card | Bank transfer | Limited (not specified) |
| Bybit | Bank transfer via SATOS | Bank transfer via SATOS | EUR |
| Binance | Bank transfer, Credit/debit card, Third-party payment providers | Bank transfer, Credit/debit card | EUR, USD, GBP, and others |
| Kraken | Bank transfer, SEPA transfer, SWIFT transfer | Bank transfer, SEPA transfer, SWIFT transfer | EUR, USD, GBP, CAD, JPY, and others |
| Gate.io | ACH,SWIFT transfer, Credit/Debit card, Apple pay, Samsung Pay, Google Pay | Depends on cryptocurrency to be withdrawn | Nearly 100 fiat currencies (including EUR) |
| BingX | Bank transfer, SEPA transfer | Bank transfer, SEPA transfer | EUR, AUD, JPY, CHF, NGN, and others |
| MEXC | Bank transfer via SEPA, Credit/debit card | Bank transfer via SEPA | EUR, USD, GBP, and others |
Customer Support
Accessible and responsive customer support can be a lifesaver when issues arise. UEEx provides 24/7 customer support, a significant advantage for beginners needing quick assistance. Kraken, BingX, and Bybit also offer reliable customer service, though specific details about response times may vary.
Are Crypto Exchanges Legal in Morocco?
Source: Bitcoinist
Cryptocurrency trading remains illegal in Morocco, so are the exchanges. The country imposed a ban on cryptocurrencies in 2017, prohibiting their use and trade.
However, in November 2024, the central bank governor announced that a draft law regulating crypto assets is currently in the adoption process. This signaled a potential shift in policy. Until this legislation is enacted, the ban remains in effect, and engaging with crypto exchanges is prohibited.
How to Start Trading on UEEx
Getting started with trading on UEEx is simple. Follow these steps:
1. Create an Account
Visit the UEEx website and click on Sign Up at the top of the page. Then:
- Enter your email address or phone number (include the country code).
- Create a strong, unique password.
- If you have an invitation code, enter it. If the code is valid, you could earn commissions.
- A verification code will be sent to your email or phone. Enter the code to activate your account.
2. Add Funds
Once your account is active and you’re logged in, deposit funds to begin trading:
- Click on your profile icon and go to the Asset Management section.
- Choose whether to deposit fiat currency (like your local currency) or cryptocurrency.
- Find the asset you want to deposit.
- Select Recharge and then click on View Address to get your deposit address for the selected cryptocurrency.
- Make sure the network you’re sending from matches the network of the deposit address.
The time it takes for your deposit to reflect will depend on the method you use:
- Cryptocurrency deposits require network confirmations.
- Fiat deposits depend on your bank’s processing time.
3. Buy Cryptocurrency
After funding your account, you can start trading:
- On the homepage, click Trade Now.
- Search for the cryptocurrency you want to trade and select it.
- Choose an order type:
- Market Order: Executes immediately at the current price.
- Limit Order: Allows you to set a specific price to buy or sell.
- Enter the amount of cryptocurrency you want to buy or the fiat amount you want to spend.
- Review your details and click Buy or Sell to complete the transaction.
4. Withdraw or Secure Your Funds
For better security, move your cryptocurrency to a personal wallet:
- Hardware wallets like Ledger or Trezor store your assets offline.
- Software wallets like MetaMask or Trust Wallet manage your funds online.
To withdraw funds from UEEx:
- Click your profile icon and go to the Asset Management section.
- Choose whether to withdraw fiat currency or cryptocurrency.
- Select the asset you want to withdraw and click Withdraw.
- On the next page, enter the receiving wallet address and the amount you want to withdraw. Ensure the network matches the one used by the receiving wallet.
- Click Withdraw to complete the process.
By transferring your funds to a private wallet, you’ll have more control and added protection for your assets.
Conclusion
The global cryptocurrency market is evolving, and as such, it offers tremendous opportunities. But, it demands care, due to varying legal and regulatory frameworks. For Morocco, the potential shift toward regulated crypto activity could unlock significant economic and technological benefits, despite the ban on crypto.
As the world watches, the country’s next steps may redefine its stance in the digital financial ecosystem. Hence, choosing the best crypto exchanges in Morocco will help safeguard against financial risks. The future holds promise—let’s see where it leads!
Frequently Asked Questions
Is cryptocurrency legal in Morocco?
Cryptocurrency has been officially banned in Morocco since 2017. But, the Moroccan government is exploring regulatory frameworks due to the growing use of digital assets.
Which crypto exchanges are best for beginners in Morocco?
Crypto exchanges like UEEx and BingX are ideal for beginners. This is thanks to their simple interface, educational tools, and copy trading features.
Are there fees for depositing or withdrawing on crypto exchanges in Morocco?
Deposit fees are often free for cryptocurrencies, but withdrawal fees vary by exchange platform, cryptocurrency, and network (e.g., 0.002 BTC on UEEx or $5–$60 for fiat withdrawals on Kraken).
