MEXEM Logo

MEXEM review summary

MEXEM is an EU-based stockbroker that was founded in 2018. It is an introducing broker to Interactive Brokers (IB), one of the largest brokers in the world. Here are the most important elements of what it means that MEXEM is an introducing broker of IB:

  • The account opening and deposit/withdrawal options are very similar to Interactive Brokers.
  • The available products are almost the same as at Interactive Brokers.
  • MEXEM charges its own fees, and offers its own customer support and educational tools.

As a customer of MEXEM, your assets and cash will be held at Interactive Brokers's Irish entity (IBIE), which is regulated by the Central Bank of Ireland. MEXEM itself has a license from the Cyprus Securities and Exchange Commission (CySEC).

Recommended for investors and traders looking for low fees and sophisticated trading platforms

You can't open an account at MEXEM if you live in United States. See the best alternative available in your country.

MEXEM pros and cons

MEXEM has low stock and ETF commission fees. Thanks to its link to Interactive Brokers, MEXEM covers a vast range of markets and products, and offers a multitude of great research tools on its sophisticated trading platforms.

Partly because of that, though, we recommend this broker mainly for advanced traders, as the account opening process is complicated and the desktop trading platform isn't the easiest to use. Among other drawbacks, forex and margin rates are high.

Pros Cons
Low stock and ETF fees Complicated account opening
Wide range of products Complex desktop trading platform
Many great research tools High forex and margin fees
MEXEM main features and highlights
🗺️ Country of regulation Ireland (IBIE), Cyprus (MEXEM)
💰 Trading fees class Average
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account >3 days
💳 Deposit with bank card Not available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 23
🎮 Demo account provided Yes
🛍️ Products offered Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Warrants, Structured products

MEXEM review
Fees

3.8
MEXEM's trading fees for stocks/ETFs, bonds, mutual funds and futures are low, while options fees are average and there is no inactivity fee. However, forex and margin fees are high.
Pros Cons
Low stock/ETF fees High forex fees
Low bond and mutual fund fees High margin rates
No inactivity fee
MEXEM fees snapshot
Assets Fee level Fee terms
US stock Low $0.005 per share; min. $2.5, max. 2% of trade value
EURUSD High 0.005% commission, min. $5
Mutual fund Low 0.1% per transaction, min. $5
Inactivity fee Low No inactivity fee

How we ranked fees

We ranked MEXEM's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

In the sections below, you will find the most relevant fees of MEXEM for each asset class. For example, in the case of stock investing the most important fees are commissions.

We also compared MEXEM's fees with those of two similar brokers we selected, Saxo Bank and Swissquote. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of MEXEM alternatives.

To have a clear overview of MEXEM, let's start with its trading fees.

MEXEM trading fees

MEXEM has low fees. The fee structure is mixed: there is usually a volume-tiered commission, with a minimum flat fee.

Stock and ETF fees

MEXEM has low stock and ETF fees.

MEXEM stock and ETF commission of a $2,000 trade
  MEXEM Saxo Bank Swissquote
US stock $2.5 $10.0 $25.0
UK stock $3.5 $11.2 $35.0
German stock $2.5 $12.0 $30.0

MEXEM's stock trading fee is volume-based: it is calculated either per share or as a percentage of the trade value, with a minimum fee applied. ETF fees are the same as stock fees.

MEXEM stock and ETF fees
Currency Commission fee Minimum
AUD 0.12% 8
CAD $0.01 per share* 2
CHF 0.1% 7.5
CNH 0.15% 25
EUR 0.06% 1.8
GBP 0.08% 2.5
HKD 0.12% 20
HUF 0.08% 500
ILS 0.1% 15
JPY 0.12% 200
MXN 0.15% 75
NOK 0.08% 20
PLN 0.1% 20
SEK 0.12% 20
SGD 0.12% 4
USD 0.005% per share 2.5
  • *US stocks have a max. rate of 2% of the order value & Canadian stocks have a max. rate of 1% of the order value.
  • Stamp taxes (UK=0.5%, Ireland=1%) are passed on to the client.

 

If you prefer stock trading on margin, you should check MEXEM's margin rates.

Trading on margin basically means that you borrow money from your broker and can purchase more shares than you could with just the available cash in your account. You have to pay interest on this borrowed money – the interest rate is called the margin rate. It can account for a significant portion of your trading costs.

MEXEM's margin rates are high.

MEXEM annual margin rates
  MEXEM Saxo Bank Swissquote
USD margin rate 9.9% - 3.0%
GBP margin rate 9.9% - 3.0%
EUR margin rate 9.8% - 2.0%

Forex fees

MEXEM's forex fees are high.

To get a clear picture of forex fees, we calculated a forex benchmark fee for major currency pairs. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

MEXEM forex benchmark fee of a $20,000 30:1 long position held for one week
  MEXEM Saxo Bank Swissquote
EURUSD benchmark fee $16.4 $7.1 $7.1
GBPUSD benchmark fee $14.0 $5.5 $5.2
AUDUSD benchmark fee $13.9 $5.7 $6.6
EURCHF benchmark fee $13.5 $5.1 $5.3
EURGBP benchmark fee $16.7 $8.7 $7.6

Fund fees

MEXEM's mutual fund fees are low. Thousands of US mutual funds (including funds from Allianz, BlackRock and Schroder) may be purchased without a transaction fee. The commission fee is 0.1%, with a minimum fee of €5.

The minimum size of initial fund orders is $3,000, while the subsequent minimum order size is $100.

When you purchase a fund that is not in the 'free-to-buy' category, a simple price structure applies that includes all regulatory and exchange fees.

MEXEM commission for a $2,000 fund purchase
  MEXEM Saxo Bank Swissquote
Mutual fund $6.0 $0.0 $9.0

Bond fees

MEXEM has generally low bond fees.

MEXEM commission of a $10,000 government bond trade
  MEXEM Saxo Bank Swissquote
US Treasury bond $5.0 $96.0 $75.0
EU government bond $12.5 $96.0 $60.0

Options fees

MEXEM options fees are average when it comes to trading stock index options.

MEXEM stock index options commission of 10 contracts
  MEXEM Saxo Bank Swissquote
US stock index options $20.0 $30.0 $19.9
UK stock index options $35.0 $42.0 -
German stock index options $21.6 $48.0 $12.0

You pay options fees depending on the number of contracts you trade.

Futures fees

MEXEM futures fees are low. Fees are more favorable then at the featured competitors.

MEXEM stock index futures commission of 10 contracts
  MEXEM Saxo Bank Swissquote
US micro e-mini stock index futures $10.0 $40.0 $19.9
UK stock index futures $28.0 $42.0 -
German e-mini stock index futures $25.2 $48.0 $12.0

CFD fees

MEXEM provides CFD products, but the fee for trading CFDs is not published clearly.

Non-trading fees

MEXEM has low non-trading fees. There is no inactivity, account or deposit fee. The first withdrawal each month is free of charge, while subsequent withdrawals carry a fee

MEXEM non-trading fees
  MEXEM Saxo Bank Swissquote
Account fee No No No
Inactivity fee No Yes No
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $10

MEXEM review
Account opening

3.5
MEXEM's account opening process is fully digital and straightforward, with no minimum deposit required. On the other hand, the account verification process takes a long time.
Pros Cons
Fully digital Slow account verification
No minimum deposit
User-friendly

Can you open an account?

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What is the minimum deposit at MEXEM?

The required MEXEM minimum deposit is $0.

Account types

MEXEM offers many account types, which differ in terms of ownership and the service provided.

Account types based on ownership

The account types fall into two big groups, depending on the account's ownership:

  • accounts for individual traders and investors
  • accounts for institutions
MEXEM account types
Account types Short description
Individuals Account is owned and used by a single individual
Joint Account is owned and used by two individuals
Family Office Account for an individual who is a Family Office Manager
Friends and Family  Account for a client group of up to 15 members
Small Business Account for small corporations
Advisor  Account for an individual who manages both client administration and the client's money
Funding Manager Account for an individual or Corporation Registered Advisor who is hired on behalf of another advisor
Copyright Trading Group Account for a partnership, corporation, unincorporated legal structure or limited liability company
Hedge and Mutual Fund

Account for an investment manager to manage single investment, multiple funds or ​​multiple co-mingled funds

Compliance Officers Account for corporations to keep track of their employees' trading activity

How to open your account

The account opening process is fully digital and straightforward. After the online registration, account verification takes around 2 business days, which is a bit longer than the usual account verification time at most brokers. 

During the account opening process, you have to provide some personal information and answer questions about your employment status and trading experience.

MEXEM review - Account opening

At the end, you have to verify your identity and residency by uploading the required documents:

  • Verification of identity: passport, national ID, or driver's license
  • Verification of residency: bank statement, utility bill, credit card statement, or notarized document

 

This is a standard procedure which in financial lingo is called a KYC (know-your-customer) process. This is required to make sure you are truly identifiable.

MEXEM review
Deposit and withdrawal

3.5
MEXEM offers quick deposit and withdrawal; however, it doesn't accept credit/debit cards and electronic wallets.
Pros Cons
No deposit fee Credit/Debit card not available
Several account base currencies
Quick deposit and withdrawal - within 3 days

Account base currencies

MEXEM provides several account base currencies, which is great if you want to trade assets in various currencies.

MEXEM account base currencies
Australian Dollar British Pound Canadian Dollar Chinese Yuan
Czech Koruna Danish Krone Euro Hong Kong Dollar
Hungarian Forint Indian Rupee (only in India) Israeli Shekel Japanese Yen
Mexican Peso New Zealand Dollar Norwegian Krone Polish Zloty
Russian Rouble Singapore Dollar South African Rand South Korean won (KRW) 
Swedish Krona Swiss Franc US Dollar  

The selection of available currencies may differ based on the legal entity you're onboarded with.

When compared to its competitors, you can see that MEXEM's base currency selection is largely similar to that of Saxo Bank and Swissquote.

Base currencies at MEXEM vs similar brokers
  MEXEM Saxo Bank Swissquote
Number of base currencies 23 26 21

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don't have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

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Deposit fees and options

MEXEM deposits are free of charge. However, deposit options are limited, as neither credit/debit cards nor electronic wallets can be used.

MEXEM deposit options
  MEXEM Saxo Bank Swissquote
Bank transfer Yes Yes Yes
Credit/debit card No Yes Yes
Electronic wallets No No No

A bank transfer can take several business days. You can only deposit money from accounts that are in your name.

MEXEM review - Deposit and withdrawal - Deposit

MEXEM withdrawal fees and options

The first withdrawal each month is free of charge, while subsequent withdrawals carry a fee.

Similar to deposits, you can only use bank transfer for outgoing transfers.

MEXEM withdrawal fees and options
  MEXEM Saxo Bank Swissquote
Bank transfer Yes Yes Yes
Credit/debit card No No No
Electronic wallets No No No
Withdrawal fee $0 $0 $10

The fee for withdrawals depends on the currency and the method used for withdrawal.

MEXEM withdrawal fees
Withdrawal currency Withdrawal fee
EUR - wire €8
EUR - SEPA €1
USD $10
GBP £7

How long does it take to withdraw money from MEXEM? We tested it and it took 2 business days.

You can only withdraw money to accounts in your name.

How do you withdraw money from MEXEM?

  • First, log in to the Client Portal, then click on 'Transfer & Pay' and 'Transfer funds'.
  • Select the account you want to use for the transaction.
  • At the top of the page, click on the 'Withdraw Funds' tab. 
  • Select the currency of your withdrawal, followed by the withdrawal method.
  • Enter the required information.
  • Submit your withdrawal request. 
  • You can see the status of your request under 'View Transaction History'.

MEXEM review
Web trading platform

4.3
The MEXEM web platform is simple and easy to use, even for beginners. However, there are some minor but annoying glitches.
Pros Cons
User-friendly User experience could be better
Clear fee report
Two-step (safer) login
MEXEM platforms to choose from
Trading platform Score Available
Web 4.3 stars Yes
Mobile 3.5 stars Yes
Desktop 3.5 stars Yes

The web trading platform, called Client Portal, is available in 12 languages:

MEXEM available languages
English Spanish French German
Italian Bulgarian Hungarian Simplified Chinese
Traditional Chinese Japanese Arabic Hebrew

Look and feel

The Client Portal platform is particularly user-friendly and intuitive. You will easily find every feature even if you just started trading.

However, from time to time, there are some annoying technical glitches. For example, if you have a large number of positions, there are often problems displaying them in sorted order (e.g. from A to Z) while you are scrolling.

MEXEM review - Web trading platform

Login and security

For two-factor authorization, use IBKR Mobile Authentication (IB Key), which requires a fingerprint or PIN, depending on the hardware capabilities of your phone. Until the IB Key is set up, you will receive an SMS message each time you log in.

Search functions

The search function is OK, but it can be a little confusing when there are several companies with a similar name or if a company has both common and preferred shares.

MEXEM review - Web trading platform - Search

Placing orders

The Client Portal offers many order types:

  • Limit
  • Mid-Price
  • Market
  • Stop
  • Stop Limit
  • Limit-on-Close
  • Market-on-Close
  • Trailing Stop
  • Trailing Stop Limit

 

If you are not familiar with the basic order types, read this overview.

If you want to place even more sophisticated orders, you should use the desktop trading platform.

You can also use several order time limits:

  • Day
  • Good-'til-Canceled (GTC)
  • Immediate or Cancel
  • Market-on-Open
  • Limit-on-Open
  • At the opening

 

MEXEM review - Web trading platform - Order panel

Alerts and notifications

You can set price alerts using the bell icon.

Portfolio and fee reports

Portfolio and fee reports are transparent. The 'Portfolio' tab gives a clear overview of your trading performance, including a historical profit/loss balance and fees paid.

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MEXEM review
Mobile trading platform

3.5
MEXEM's mobile trading platform boasts a lot of functions and a useful chatbot, but its user interface could be better.
Pros Cons
Two-step (safer) login Minor technical glitches
Good variety of order types
Price alerts

MEXEM's mobile trading platform is available both for iOS and Android devices. For this review, we tested it on iOS.

The number of available languages is similar to the web trading platform: Dutch, English, French, German, Italian, Japanese, Russian, Simplified Chinese, Spanish,Traditional Chinese and Turkish. 

Look and feel

The mobile trading app is much like the web platform. Its overall look and user-friendliness lags behind competitors' mobile platforms.

There are also some annoying glitches. For example, when we received a bulletin in our inbox informing us of margin requirement changes, we could see only half of the text and could not resize the window or scroll.

Somewhat surprisingly, the app sometimes displays text in English and sometimes in the client's local language.

MEXEM review - Mobile trading platform

Login and security

In MEXEM's app you can use a two-step login, which is safer than a simple login. Furthermore, if your device supports such features, you can also use biometric authentication for more convenience. However, in our experience it has a small bug as well, as it only showed this option after a few logins.

Search functions

The search function is OK and is much like what the web trading platform offers. As the picture below shows, it can be a little confusing when there are several companies with a similar name or if a company has both common and preferred shares. 

MEXEM review - Mobile trading platform - Search

After you select the product you are interested in, the system will display an information and trading window that shows:

  • asset market information
  • an interactive chart with technical indicators
  • related news
  • some fundamental data
  • a summary of the latest analyst report
  • and the 'Buy' and 'Sell' buttons that transfer you to the order panel

Placing orders

You can use the following order types:

  • Limit
  • Mid Price
  • Market, Stop
  • Stop Limit
  • Market if Touched
  • Limit if Touched
  • Trail
  • Relative
  • Market on Close
  • Limit on Close

There are also order time limits you can use: Day, Good till Canceled, At the opening.

MEXEM review - Mobile trading platform - Order panel

Alerts and notifications

You can set price alerts using the notification (bell) icon.

Special feature - Chatbot

The most innovative and exciting function within the app is the chatbot, called IBot, which is the same as Interactive Brokers's chat function. You can use the chatbot to execute or close an order, as well as to get basic info quickly.

MEXEM review - Mobile trading platform - Chatbot

The chatbot understands basic commands such as “apple price” or “buy 1 apple share”. On top of this, you can also search for company fundamentals, like dividend yields and P/E ratios. Some other functions, like displaying a chart, are also available via the chatbot.

MEXEM review - Mobile trading platform - Chatbot charting

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MEXEM review
Desktop trading platform

3.5
MEXEM's desktop platform TWS comes with great customizability and advanced order execution. However, it's not user-friendly and caters more to advanced traders.
Pros Cons
Clear fee report Not user-friendly
Good customizability (for charts, workspace) Complexity might be overwhelming
Good variety of order types

MEXEM uses the same trading platform as Interactive Brokers, which is Trader Workstation (TWS). This platform is so advanced that even a separate review would not be enough to cover all its features.

The system offers literally every feature you can think of, from attaching a delta hedge order to an options order to creating charts for synthetic securities.

There are many trading algos to choose from. One favorite, the ScaleTrader originates from the notion of averaging down or buying into a weak, declining market at ever lower prices as it bottoms – or, conversely, selling into a rising market or scaling out of a long position.

The desktop trading platform is available in multiple languages, but fewer than the web trading platform. For example, Dutch and Slovakian are missing.

Look and feel

In many respects, this is by far the most complex platform that we at BrokerChooser have ever reviewed. Despite its complexity, the platform is highly customizable; for example, you can set up your own templates.

This platform is ideal if you consider yourself a professional user. If you are a beginner or someone who doesn't trade actively, you may have difficulty navigating all of TWS's features. Keep in mind, however, that all the advanced features are optional. If you don't use them, you can easily handle TWS just to place orders even if you are an everyday investor.

MEXEM review - Desktop trading platform

Login and security

The system has the same security features as the web trading platform. You can log in using a two-step authentication, which makes the platform unquestionably safer to use.

Search functions

The search function is great. You can check/uncheck boxes to include/exclude searching for derivatives (like CFDs).

MEXEM review - Desktop trading platform - Search

Placing orders

Trading through TWS, MEXEM offers many different order types.

Order types on MEXEM's desktop platform
Limit Mid Price Market Market-to-Limit
Stop Stop-Limit Trail Trail-Limit
Relative Retail Price Improvement Snap Market Snap To Midpoint
Snap to Primary Market-on-Close Limit-on-Close IBALGO
Hedge (with Forex, or Pair Stock)      

The desktop platform provides Smart Routing, a great feature that detects the best possible route (e.g. exchange) for your trades automatically. TD Ameritrade also has a similar service.

If you are not familiar with the basic order types, read this overview.

Order term options also include some special types beyond the usual ones:

  • Good 'til Canceled (GTC)
  • Good-'til-Date (GTD)
  • Market-on-open (MOO)
  • Limit-on-open (LOO)
  • Immediate-or-cancel (IOC)
  • Fill-or-Kill (FOK)
  • Day-'til-canceled (DTC)

MEXEM review - Desktop trading platform - Order panel

Alerts and notifications

Price alerts can be set from a dropdown menu in the 'Order Entry' panel.

You can also set additional alerts such as daily profits or losses on the Client Portal.

Portfolio and fee reports

You can access reports under the 'Account' menu item. It will open a new tab in your browser and will take you to the Client Portal's reports, which are of high quality.

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MEXEM review
Markets and products

4.6
At MEXEM, you can access an extremely wide range of markets and almost all product types, except for crypto.
MEXEM asset classes
  MEXEM Saxo Bank Swissquote
Stocks Yes Yes Yes
ETFs Yes Yes Yes
Forex Yes Yes Yes
Funds Yes Yes Yes
Bonds Yes Yes Yes
Options Yes Yes Yes
Futures Yes Yes Yes
CFDs Yes Yes Yes
Crypto No Yes Yes

MEXEM has a great selection of products, with an exceptionally wide range of ETFs and bonds. MEXEM also offers a couple of more exotic assets, such as warrants and structured products. You can also trade CFDs; however, it is not transparent which CFD asset types are availabe. MEXEM only lags behind its competitors in terms of FX pair selection and the lack of cryptos.

MEXEM provides access to more than 150 exchanges worldwide.

Stocks and ETFs

MEXEM gives you access to more stock markets than its competitors

This includes major stock markets like the NASDAQ, the New York Stock Exchange (NYSE) and the London Stock Exchange (LSE), as well as minor ones such as the Warsaw Stock Exchange or Mexican markets. In addition to regular stocks, penny stocks are also available. 

Besides stocks, you can also trade more than 13,000 ETFs at MEXEM. This is an extensive selection compared to its competitors.

MEXEM stock and ETF selection
  MEXEM Saxo Bank Swissquote
Stock markets (#) 83 50 60
ETFs (#) 13,000 6,400 1,400

MEXEM offers the possibility of buying and selling fractional shares of a stock, which allows traders to invest small amounts and still diversify their portfolios. Fractional shares are available for US and European stocks.

Forex

The number of forex pairs available is average.

MEXEM forex selection
  MEXEM Saxo Bank Swissquote
Currency pairs (#) 105 190 80

Funds

Through MEXEM, you have access to more than 250 fund providers, including big names like BlackRock and Vanguard. This selection is great compared to competing brokers.

MEXEM mutual fund selection
  MEXEM Saxo Bank Swissquote
Fund providers (#) 285 17 340

Bonds

MEXEM gives you access to a massive number of bonds and both government and corporate bonds are available.

MEXEM bond selection
  MEXEM Saxo Bank Swissquote
Bonds (#) 1,065,000 40,000 53,400

Options

As with other product types, MEXEM offers an extremely wide range of options markets

You can access the biggest ones, like the Chicago Board Options Exchange (CBOE) or the CME Group, as well as smaller markets, such as the Korea Stock Exchange (KSE) and the Mexican Derivatives Exchange (MEXDER)

MEXEM options selection
  MEXEM Saxo Bank Swissquote
Options markets (#) 34 20 6

Futures

MEXEM offers an extensive selection of futures products and markets. At the time of writing, there were 22 markets available, which is more than what competitors offer. Similarly to options, you will find both major and minor markets.

MEXEM futures selection
  MEXEM Saxo Bank Swissquote
Futures markets (#) 32 28 6

CFDs

At MEXEM, CFD trading is available, however it is not clear which CFD asset classes you can trade.

MEXEM review
Research

4.3
MEXEM provides an astonishing array of research functionalities. However, the user interface is somewhat complicated and not well-designed.
Pros Cons
Good interactive chart Not user-friendly
Trading ideas
Data on asset fundamentals

Trading ideas

MEXEM provides trading ideas. If you search for a specific asset under Fundamentals Explorer within the Research menu, you will see analyst recommendations from Trading Central for the given asset alongside a wide range of additional information such as technical insights, analyst forecast, news feed, dividend information (if applicable), key ratios and financials. The amount of information is rather impressive, but you need to spend a bit of time on the interface to get familiar with the layout.

MEXEM review - Research - Recommendations

Fundamental data

MEXEM offers fundamental data. There is an incredibly detailed Events Calendar within the Research menu, containing macroeconomic data releases from around the globe. 

Alternatively, if you search for a specific asset, you will find a wealth of data, including revenue, dividend and return on equity-related information within the Fundamentals Explorer tab under Research. Environmental, social and governance (ESG) scores from Refinitiv are also provided.

MEXEM review - Research - Fundamental data

Charting

MEXEM has good charting tools. You can use 127 technical indicators; however, the charting tool is not user-friendly. 

MEXEM review - Research - Charting

News feed

You have access to:

  • News
  • Daily summaries
  • Multiple economic calendars

 

Upon entering the platform, you can read daily market summaries through the 'Daily Lineup'. This feature helps you keep up to date with the latest news and analyst recommendations. There is also an Earnings Calendar and an Economic Event Calendar that are helpful shortcuts to start off your day.

MEXEM review - Research - Daily lineup
The Economic Calendar informs you about upcoming events that will have an economic impact. This feature can be accessed separately any time from the menu, though the design could be better.

MEXEM review - Research - Economic calendar

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MEXEM review
Customer service

4.0
MEXEM's customer service is overall of good quality, although we missed 24/7 availability.
Pros Cons
Phone support No 24/7 support
Fast response time Chat only through WhatsApp
Relevant answers

You can contact MEXEM via:

  • Phone
  • Email
  • WhatsApp

 

MEXEM’s phone support was fast and we got relevant answers.

We also got quick and relevant answers to our email queries.

However, the broker does not have a direct live chat option. You can chat with them via WhatsApp, which you have to download if you don't have the app.

We also missed 24/7 customer service availability.

MEXEM review - Customer Service

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MEXEM review
Education

4.5
MEXEM offers some good educational materials and tools, including tutorial videos, webinars and a demo account, although some of these are hard to find.
Pros Cons
Demo account Educational tools are hard to find
Trading platform tutorial
Educational videos

At MEXEM you can learn in the following ways:

  • Demo account
  • Platform tutorial videos
  • General educational videos
  • Webinars

 

The videos are a bit difficult to find, as they are not featured on the website. You have to go to the broker’s YouTube channel to view them, where however they are available in several languages, such as English, Italian and Dutch.

Once you set up a trading account, you can also open a Paper Trading Account. This is a demo account, although you have to download Trader Workstation to be able to use this version. We don't find this is user-friendly at all.

MEXEM also offers educator and student accounts for educational purposes, through a link to the Interactive Brokers Student Trading Lab account.

MEXEM review - Education

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MEXEM review
Safety

MEXEM is an introducing broker of Interactive Brokers (IB), meaning that your assets and cash are held by IB's Irish entity (IBIE), which is overseen by Ireland's top-tier regulator. Also, IB is listed on a stock exchange and discloses its financials transparently.
Pros Cons
Assets and cash are held at Interactive Brokers Does not hold a banking license
Interactive Brokers is listed on NASDAQ

Is MEXEM regulated?

MEXEM serves as an introducing broker to IBIE, the Irish entity of Interactive Brokers. This means that your cash and assets are held with IB, while IBIE specifically is regulated by the Central Bank of Ireland.

Is MEXEM safe?

To be certain if a brokerage is safe, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

Interactive Brokers is the contracting partner that processes and transacts orders via the trading platform. This means the investor protection amount and the regulating authority are related to IBIE, the Ireland-based entity.

MEXEM investor protection
Country of clients Protection amount Regulator Legal entity
All clients €20,000 Central Bank of Ireland Interactive Brokers Ireland Limited (IBIE), MEXEM Ltd

MEXEM provides negative balance protection for forex spot and CFD trading, but only for retail clients from the European Union. Professional and non-EU clients are not covered by any negative balance protection.

Background

MEXEM was established in 2018, so it is a relatively young company. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Interactive Brokers, which MEXEM is an introducing broker of, is listed on the NASDAQ and was founded in 1977.

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MEXEM review
Bottom line

MEXEM is an EU stockbroker for investors and traders. We recommend this broker mainly for advanced traders.

On the plus side, MEXEM has low stock and ETF fees, a vast range of available markets and products, and diverse research tools.

There are some drawbacks, though. It charges high forex and margin fees, and the account opening process is complicated. The desktop platform is complex and might be hard to get a handle on, especially for beginners.

If you have experience navigating complex platforms and like transparency, feel free to try MEXEM, as it could be a great fit for you.

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MEXEM review
FAQ

We recommend MEXEM for investors and traders looking for low fees and sophisticated trading platforms.

Below you can find links to all aspects of MEXEM in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our MEXEM fees article.

What about the minimum deposit?

Our ultimate guide to the MEXEM minimum deposit is updated regularly.

How to start your MEXEM account?

Look no further than our evaluation of the MEXEM account opening.

How's their trading app?

Here's our expert view after checking the MEXEM trading app.

Is the quality of customer service satisfactory?

All you need to know about the MEXEM customer service.

Legit or scam?

Is MEXEM legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether MEXEM is really free.

Is this broker good for beginners?

We checked it in Is MEXEM good for beginners.

Should you buy your silver bullets on MEXEM?

Research for silver bugs in the Silver buy on MEXEM guide

I want to trade options, are they available at MEXEM?

We explored the topic in Can you trade options on MEXEM?

What is the minimum account balance at MEXEM?

Check out the current account balance requirements at MEXEM in our What is the minimum account balance at MEXEM article.

Looking for commission and fees data for MEXEM?

We collected them in MEXEM commission and fees.

How do you withdraw money from MEXEM?

We tested it and collected the options and costs in How to withdraw money on MEXEM.

Author of this review

Krisztián Gátonyi

Author of this review

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. He received his MSc degree in International Business from the University of Middlesex. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Krisztián Gátonyi

Senior Broker Expert

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. He received his MSc degree in International Business from the University of Middlesex. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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