MEXC CEO Vugar Usi: "I Struggle to Construct a Retail Case for 500x Leverage"

MEXC Chief Executive Vugar Usi questioned the retail case for leverage of 500x in an interview with FinanceMagnates.com. His comments come as crypto exchanges push further into forex, commodities and U.S. equities.The statement also invites a closer look at how leverage varies across MEXC's expanding product range. A new FM Intelligence report found that MEXC advertises up to 200x on selected stock futures and up to 1,000x on precious-metals perpetuals. Its public pages do not say which jurisdictions can access the highest settings.That gap matters because derivatives, tokenized securities and real shares can now appear inside the same crypto account. The products may share an interface and funding currency, but they carry different liquidation rules, ownership rights and regulatory protections.From 5x to 1,000xUsi said the crypto sector has not settled on a common standard for retail leverage. "I struggle to construct a retail case for that number," he told FM Intelligence, referring to 500x offers on forex and gold.He pointed to MEXC's August 2025 launch of U.S. stock futures with a 5x ceiling, the same limit European rules impose on retail contracts for difference tied to individual shares.The ceiling later changed. A July 30 MEXC notice lists maximum leverage of 200x for futures linked to Sandisk, Micron and SpaceX. Position limits fall as the selected leverage rises.[#highlighted-links#]An April report also promoted up to 100x on stock futures and 1,000x on metals perpetuals. MEXC advertised competitions, rewards and zero-fee campaigns alongside those contracts.The exchange previously reported 7.1 billion USDT in SpaceX futures volume, showing how quickly equity-linked derivatives can generate turnover. The figure was self-reported and was not independently audited.The European Securities and Markets Authority (ESMA) said in February that perpetual futures meeting the CFD definition are likely to fall under national product-intervention measures. Those rules include leverage caps, margin close-out requirements and negative balance protection.One Account, Different RightsMEXC now offers three routes to equity exposure. Futures provide a leveraged price contract, while its tokenized-securities terms say holders do not receive legal title to the underlying shares.RealStocks routes orders for actual U.S. shares through a brokerage and custody chain. An August 14 FAQ names VistaMX Markets Limited, Atomic Vaults Securities, Clear Street and RQD among the intermediaries.The shares are held in an institutional omnibus account. MEXC says Securities Investor Protection Corporation coverage applies at the eligible omnibus-account level, not separately to each end user.Crypto Exchanges Add Brokerage ProductsMEXC is one of several crypto venues building equity products around stablecoin-funded accounts. Binance added access to more than 7,000 U.S. stocks in June through Nest Trading and Alpaca.Gate followed with 10,000 stocks and exchange-traded funds in August, while Bitget and Bybit offered parts of their TradFi ranges through MetaTrader 5 with leverage advertised at up to 500x.The full FM Intelligence interview examines the product structures, licensing perimeter and costs behind MEXC's zero-fee label. Its RealStocks FAQ says transfers to another broker and dividend reinvestment are not yet supported, while the default U.S. withholding rate on dividends remains 30%.