Summary
Cryptocurrency trading exists in a legal gray area in Morocco. Bank Al-Maghrib (BAM) and the Moroccan Foreign Exchange Office prohibit cryptocurrency transactions. The Moroccan Dirham (MAD) is not supported on major crypto exchanges. Despite restrictions, P2P trading and international payment methods enable access to crypto exchanges. For users seeking the best crypto exchanges in Morocco, proper research and compliance with local regulations are essential. Here are the best crypto exchanges in Morocco:
Best Crypto Exchanges in Morocco
For Moroccan cryptocurrency traders, accessing digital asset platforms requires careful consideration of payment methods and regulatory compliance. While the Moroccan Dirham isn’t directly supported, users typically utilize EUR or USD through international payment methods. P2P trading options and third-party payment processors facilitate access to major exchanges.
1. Bitget
Users:
23m
Free Demo:
Mobile App:
Bonus
$6,200
Cryptos:
840+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- Over 800 cryptos
- Fair trading fees
- Great for EUR SEPA transfers
- 24/7 customer support
- Very beginner friendly
Cons
- Not available in the US
- No TWAP order supported
- Mandatory KYC for new accounts
Overview
Bitget is a true powerhouse for crypto traders from over 100 supported countries. What makes Bitget special is its beginner-friendly trading platform, which has over 800 supported cryptocurrencies. With so many supported cryptocurrencies, if you are looking to trade altcoins, Bitget might be one of your best shots.
With fiat support for 6 currencies, including EUR and RUB, Bitget is a top choice, especially for European users looking to deposit and withdraw funds in their native currency with ease. The 0% fee for SEPA transactions makes Bitget stand out. Credit card payments are also supported.
Experienced crypto traders can trade futures contracts on Bitget with 125x leverage on selected assets such as Bitcoin or Ethereum.
The spot trading fees start at 0.1% for makers and takers, which is very common in the industry. For futures traders seeking leverage for their day trading activities, Bitget charges very low fees of 0.02% maker and 0.06% taker.
2. MEXC
Users:
15m
Free Demo:
Mobile App:
Bonus
$20,000
Cryptos:
2400+
Leverage:
200x
Spot Fees:
0.02%
Futures Fees:
0%/0.02%
Pros
- Lowest Trading Fees
- 2000+ supported crypto assets
- 200x leverage and deep liquidity
- 24/7 customer support
- Best for altcoin and leverage trading
Cons
- Not available in the US
- Newly launched coins pose high risk
- May request KYC in the future
Overview
MEXC is known as the crypto exchange with the lowest fees. What makes MEXC stand out is its 0% maker fee offer, meaning you can trade without any fees. However, the spot and futures taker fees start at 0.02%. No crypto exchange can compete with the MEXC fee structure.
If you are a day trader seeking high leverage, MEXC may be one of your best options. With 200x leverage over 400 futures contracts and by far the lowest fees, MEXC is truly a day trading heaven.
Even if you are not interested in leverage trading, MEXC has you covered with over 2000 supported cryptocurrencies on the spot market. While MEXC offers tons of new altcoins, we recommend being cautious as the legitimacy of newly listed projects may be questionable.
All in all, MEXC is arguably the best option for high-frequency traders seeking low fees to get the best value for money.
3. Bybit
Users:
40m
Free Demo:
Mobile App:
Bonus
$30,000
Cryptos:
600+
Leverage:
100x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.055%
Pros
- Low fees
- 600+ supported crypto assets
- 100x leverage and deep liquidity
- Advanced order types and additional features
- Great 24/7 customer support
- Automated copy trading
Cons
- Regulatory uncertainty in Europe and USA
- May be confusing for beginners
- Cryptocurrency investments carry high risks
Overview
Bybit stands out as one of the most advanced crypto exchanges with deep liquidity and low fees. Bybit users can trade Spot, Futures, Options, NFTs, and even Inscriptions. Additionally, Bybit offers copy trading and bot trading to automate your income streams. Bybit copy trading is one of the best in the crypto industry.
Where Bybit excels is its derivatives platform with 320+ perpetual futures contracts and up to 100x leverage. With advanced order types such as TWAP or Iceberg orders, Bybit caters to experienced traders seeking the best options.
On the spot market, Bybit supports over 500 cryptos and up to 10x margin, making Bybit a versatile crypto exchange.
With low fees of 0.1% maker and 0.1% taker for spot trading and 0.02% maker and 0.055% taker for futures trading, Bybit has highly competitive fees. To top it all off, Bybit offers fee discounts based on your 30-day trading volume. The more you trade, the more you save.
4. Binance
Users:
200m
Free Demo:
Mobile App:
Bonus:
$100
Cryptos:
400+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.05%
Pros
- Most comprehensive crypto exchange
- Most advanced features and products
- 24/7 customer support
- 400+ cryptocurrencies
- Reputable with over 200 million users
- Best liquidity
Cons
- Not beginner friendly
- Restricted in many regions due to regulations
- EU traders must use BNFCR for futures trading
Overview
Reaching over 200 million registered users in 2024, Binance is by far the largest crypto exchange in the world. The platform is incredibly comprehensive, offering crypto traders all the tools they need to make a profit in the crypto market.
With over 400 cryptocurrencies to trade, leverage of up to 125x, directly integrated charts from TradingView with tons of technical analysis tools, and many more features, Binance has secured its spot as one of the best crypto exchanges.
Binance offers a wide variety of products, including spot, margin, futures, and options trading, staking, lending, P2P, automated bot trading, copy trading, and even an NFT marketplace. It is safe to say that crypto geeks will find everything they are looking for on Binance.
The trading fees on Binance are very affordable. Binance charges 0.1% trading fees on the spot market (makers and takers alike), which is the industry standard. Where Binance excels is the futures market with fees of only 0.02% for makers and 0.05% for takers.
5. Kraken
Users:
10m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
220+
Leverage:
100x
Spot Fees:
0.25%/0.4%
Futures Fees:
0.02%/0.05%
Pros
- Very beginner-friendly
- Low futures trading fees
- Free demo trading
- Fiat supported
- 24/7 customer support
- Fully regulated
Cons
- High spot trading fees
- Lacks advanced features
- Poor liquidity for futures trading
- Complicated Demo trading
Kraken Overview
Kraken stands out as one of the most beginner-friendly crypto exchanges. With an easy to understand UI, simple features, and a straightforward approach, Kraken has onboarded over 10 million users to its platform from all around the world.
Spot traders can access over 220 cryptocurrencies for buying and selling. For traders seeking more buying power, Kraken offers a leverage trading platform with up to 50x leverage on selected assets such as BTC.
In terms of fees, Kraken has a different approach for spot and futures trading. While spot trading fees are relatively high (0.25% maker and 0.4% taker), the futures fees are very low (0.02% maker and 0.05% taker). Based on your 30-day trading volume, you can obtain additional fee discounts.
What we love about Kraken is its comprehensive fiat support. You can deposit funds using your credit card or bank transfer. Once you are done trading, you can withdraw fiat currencies such as EUR or USD back to your personal bank account to lock in your profits.
Is Crypto Legal and Regulated in Morocco?
Cryptocurrency operations face significant restrictions in Morocco. The Bank Al-Maghrib (BAM) and the Office des Changes issued a joint statement in 2017 declaring cryptocurrency transactions illegal. This position was reinforced in 2021 when the Ministry of Finance emphasized the prohibition of cryptocurrency use.
The Foreign Exchange Office specifically prohibits foreign currency transactions conducted outside authorized channels, which includes cryptocurrency trading platforms. Violations can result in penalties under the Exchange Control Regulations and may incur fines.
Despite these restrictions, Morocco ranks among the top cryptocurrency trading nations in North Africa, indicating a significant informal market. The government is currently studying potential regulatory frameworks for digital assets, though no formal legislation has been enacted.
Is Crypto Taxable in Morocco?
Given cryptocurrency’s illegal status in Morocco, there are no specific tax regulations for digital assets. However, the Direction Générale des Impôts (DGI) maintains authority over all forms of income and capital gains.
Under the General Tax Code, regular trading activities might be classified as professional income, subject to progressive rates between 0% and 38%. Capital gains from occasional transactions could potentially fall under the general income tax framework with rates ranging from 10% to 38%.
The absence of specific cryptocurrency regulations creates uncertainty regarding tax obligations for digital asset transactions. The current legal framework does not address cryptocurrency mining, trading, or investment gains.
Disclaimer:
Tax laws are subject to change, and individual circumstances may vary. It is strongly advised to consult with a qualified tax professional or financial advisor for personalized guidance on cryptocurrency taxation in Morocco.
How to Buy Crypto in Morocco
Accessing cryptocurrency markets in Morocco requires careful navigation of available options while considering local regulations. Bitget provides a reliable platform for Moroccan users, offering multiple payment options and comprehensive security features.
- Select a suitable exchange: Research platforms that cater to Moroccan users, ensuring they offer secure payment methods, strong security measures, and comply with relevant regulations. Look for exchanges with P2P trading for added flexibility.
- Register and verify your account: Sign up on the chosen platform and complete the KYC verification process by submitting documents like a government-issued ID and proof of address.
- Fund your account: Add funds using available methods such as SWIFT transfers, credit or debit cards, or P2P options. Keep in mind that direct MAD deposits may not be available.
- Select your cryptocurrencies: Choose from digital assets like Bitcoin (BTC), Ethereum (ETH), or stablecoins like USDT. Make sure to consider market trends and investment strategies before making a decision.
- Execute your trades: Buy or sell crypto by placing market or limit orders based on your trading plan. Keep an eye on transaction fees and exchange rates to get the best deal.
- Ensure secure storage: Transfer your crypto to a personal wallet, especially for long-term holdings. Consider using hardware wallets for better security.
Stay informed about local cryptocurrency laws and trade with caution in Morocco.
Best Crypto Wallets in Morocco
Moroccan cryptocurrency users need reliable storage options for their digital assets. A variety of wallets offer different levels of security and ease of access:
- Ledger hardware wallets provide offline storage and support multiple cryptocurrencies. These devices ensure top-notch security for long-term storage and come with backup options for asset recovery.
- Trezor wallets offer robust hardware protection with a user-friendly interface. They are compatible with numerous cryptocurrencies and can be linked to various exchanges.
- Trust Wallet provides mobile access with an integrated DApp browser. It supports multiple blockchains and offers a seamless way to connect with decentralized exchanges.
- Exodus offers both desktop and mobile functionality with a built-in exchange. It includes advanced portfolio tracking tools and supports over 100 digital assets.
- MetaMask focuses on managing Ethereum and ERC-20 tokens. The wallet allows users to engage in DeFi activities and handle NFT transactions via its browser extension and mobile app.
Bottom Line
For users seeking the best crypto exchanges in Morocco, Bitget stands out with its comprehensive trading features and reliable P2P options. MEXC provides an excellent alternative with its extensive cryptocurrency selection and competitive fee structure. Both platforms offer essential tools for navigating the cryptocurrency market while accommodating Moroccan users’ specific needs.
