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MEXEM Review 2024

Written by
Krisztián G.
Fact checked by
Adam N.
Updated
1w ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
9,090 people chose this broker
Not available in United States; see best alternatives

Why choose MEXEM

MEXEM is a Europe-based global stockbroker for traders and investors.

It has low stock and ETF 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 desktop trading platform isn't the easiest to use. Among other drawbacks, forex and margin rates are high.

BrokerChooser gave MEXEM a 4.2/5 rating based on analyzing 600+ criteria and testing via opening a live account.

  • Low stock and ETF fees
  • Wide range of products
  • Many great research tools

Explore the key metrics of MEXEM

Overall score
4.2/5
Minimum deposit
$0
Stock fee
Low
Options fee
Average
Inactivity fee
no
Account opening
1 day

Not sure if this is the right broker for you? See the best ones.

See how the best brokers in the United States compare to MEXEM

US stock fee
Estimated commission of a $2,000 trade, assuming a $50 stock price

Fees

Score: 3.4/5
MEXEM's trading fees for stocks/ETFs, bonds and mutual funds are low, while options and futures fees are average and there is no inactivity fee. However, forex and margin fees are high.
  • Low stock/ETF fees
  • Low bond and mutual fund fees
  • No inactivity fee

We compared MEXEM's fees with two similar brokers we selected, Saxo Bank and DEGIRO. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of MEXEM alternatives.

Low stock and ETF commission

MEXEM US stock fees are lower than the industry average. US stock fees are calculated as follows: $0.005 per share; min. $2.5, max. 2% of trade value

Broker
US stock
MEXEM
$2.5
Saxo Bank
$1.6
DEGIRO
$2.2
MEXEM stock and ETF commission

High margin rates

The USD margin rate fees at MEXEM is the highest among the brokers we reviewed. USD margin rate fees are calculated as follows: Fed Funds effective + mark-up

Broker
USD margin rate
MEXEM
15.3%
Saxo Bank
-
DEGIRO
6.9%
MEXEM annual margin rates

Average options commission

MEXEM US stock index options fees are much higher than the industry average. US stock index options fees are calculated as follows: $2 per transaction, min. $2

Broker
US stock index options
MEXEM
$20.0
Saxo Bank
$20.0
DEGIRO
$7.5
MEXEM stock index options commission

No inactivity fee, no withdrawal fee

There is no inactivity, account or deposit fee. The first withdrawal each month is free of charge, while subsequent withdrawals carry a fee. The fee depends on the currency and the method used for withdrawal, e.g. for EUR wire it is €8.

Broker
Inactivity fee
Withdrawal fee
MEXEM
$0
Saxo Bank
$0
DEGIRO
$0
MEXEM inactivity, withdrawal and other fees

Other commissions and fees

Low mutual fund commission: trading mutual funds involves the following charges - 0.1% per transaction, min. $5.

Low futures fees: US index futures fees are as follows - $1 per contract, min. $1.

High FX fees: MEXEM charges a forex commmission: 0.005% commission, min. $5. Spread costs come on top of this, e.g. the EUR/USD spread is 0.2.

Low bond commission: US treasury bonds come with the following charges - 0.0015% of trade value with a minimum of $8.

Broker
Mutual fund
US micro e-mini stock index futures
MEXEM
$5.4
$10.0
Saxo Bank
$0.0
$30.0
DEGIRO
$4.2
$7.5
Misc. fees compared with other brokers

Safety

MEXEM is an introducing broker to 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.
  • Assets and cash are held at Interactive Brokers
  • Interactive Brokers is listed on NASDAQ
Read more

Deposit and withdrawal

Score: 3.3/5
MEXEM offers quick deposit and withdrawal; however, it doesn't accept credit/debit cards and electronic wallets.
  • No deposit fee
  • Several account base currencies
  • Quick deposit and withdrawal - within 3 days
Read more

Account opening

Score: 5/5
MEXEM's account opening process is fully digital and straightforward, with no minimum deposit required.
  • Fully digital
  • No minimum deposit
  • User-friendly
Read more

Mobile app

Score: 4.3/5
MEXEM's mobile trading platform boasts a lot of functions and a useful chatbot, but its user interface could be better.
  • Two-step (safer) login
  • Good variety of order types
  • Price alerts
Read more

Desktop platform

Score: 3.8/5
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.
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
Read more

Product selection

Score: 4.9/5
At MEXEM, you can access an extremely wide range of markets and almost all product types, except for crypto.
Read more
“I recommend MEXEM for investors and traders looking for low fees and sophisticated trading platforms.”

FAQ

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Author of this review

Krisztián Gátonyi

Forex • Market Analysis • Stock Market

I have 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. I'm actively involved in reviewing the 100+ brokers listed on our site. I personally open accounts with real money, execute trades, test customer services. I hold an MSc in International Business from the University of Middlesex. My 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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