Top Cryptocurrency Exchanges 2025: A Review by CoinGecko, Forbes, and CoinDesk
Date: 2025-09-25 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
CoinGecko calculates a Trust Score (0–10) based on order book depth, management transparency, trading activity, cybersecurity (via Hacken), API functionality, incident history, and Proof-of-Reserves publication.
Forbes analyzes 40 factors: availability of trading pairs (20%), fees (15%), asset storage security (15%), and user experience (17%). Additionally, withdrawals, futures, staking, educational materials, and US dollar support are considered.
CoinDesk uses a letter scale (F–AA) covering 100 criteria. The main ones are transparency, regulatory compliance, service quality, and infrastructure security. Exchanges with a score of 65 or higher, or a BB rating or higher, are considered reliable.
We adapted the system to the CIS market, where large Western exchanges like Coinbase are unavailable.
OKX
OKX topped the rankings thanks to its transparency and stability. After a single incident in 2020, the exchange has consistently published monthly Proof-of-Reserves, confirming full coverage of client assets.
In 2025, the platform entered the US market after settling claims from the Department of Justice and received a MiCA license in the EU. Its services include a Web3 wallet, OKX Pay, and a VIP program with reduced fees.
- Trading pairs: 675
- Fees: 0.08% maker / 0.1% taker (spot)
- Trust Score: 10/10
- CoinDesk: A (75/100)
Bybit
Bybit maintains a strong position in Russia (26% of traffic). In February 2025, the exchange fell victim to the Lazarus attack, losing $1.4 billion, but quickly restored operations and strengthened its security.
In the spring, the company received a MiCA license in Austria and launched a regulated European platform.
- Trading pairs: 680
- Fees: 0.1% spot / 0.02% maker and 0.055% taker (futures)
- Trust Score: 10/10
- CoinDesk: A (75/100)
MEXC
MEXC offers a record number of altcoins—2,690 spot pairs. The exchange actively lists new projects: trading volume for new assets in 2025 exceeded $34 billion.
A key feature of the platform is its minimal fees: 0% for makers and 0.05% for takers (spot). MX token users receive a discount of up to 50%.
- Trading pairs: 2690
- Fees: 0% maker / 0.05% taker (spot)
- Trust Score: 10/10
- CoinDesk: C (50/100)
KuCoin
KuCoin is committed to innovation: AI-powered trading bots, GemSPACE and Spotlight token listing platforms, and Earn and Learn and Earn services.
In 2025, the exchange implemented international security standards and launched a $2 billion Trust Fund. It also partnered with the Thai Ministry of Finance to issue tokenized bonds.
- Trading pairs: 1317
- Commissions: 0.1% spot / 0.02-0.06% futures
- Trust Score: 9/10
- CoinDesk: B (60/100)
Gate
Gate is actively expanding its global market presence. In 2025, its Dubai office received a VARA license, and the number of users exceeded 30 million. The exchange partners with Inter and Oracle Red Bull Racing.
- Trading pairs: 2664
- Commissions: 0.09% spot / 0.02-0.05% futures
- Trust Score: 10/10
- CoinDesk: BB (74/100)
Summary
The choice depends on your goals:
OKX is suitable for active traders and Web3 users.
MEXC offers low fees and a wide selection of tokens.
Bybit is popular in Russia and the EU, combining reliability and licensing.
KuCoin stands out for its innovative services and security fund.
Gate is convenient for entering Middle Eastern markets.
For security, it is recommended to distribute assets and store long-term funds in cold wallets.
