MEXEM is headquartered in Europe and serves as a global stockbroker catering to traders and investors. Offering competitive fees for stocks and ETFs, MEXEM benefits from its association with Interactive Brokers, enabling access to a wide array of markets and products. Additionally, it provides an array of robust research tools through its advanced trading platforms. However, due to its sophisticated desktop trading platform, it is primarily recommended for experienced traders. MEXEM prioritizes the utmost security for client funds and adopts a conscientious approach to meeting all contractual obligations related to brokerage services.
Safety
Founded in 2018, MEXEM is a relatively new company. A broker’s longevity often provides evidence of its ability to weather past financial crises successfully. MEXEM serves as an introducing broker for Interactive Brokers, which entails that your assets and cash are managed by IB’s Irish entity (IBIE), regulated by Ireland’s top-tier regulatory authority. Furthermore, Interactive Brokers is publicly listed on a stock exchange and maintains transparent disclosure of its financials.
| Country | Legal Entity | Regulator | Protection Amount |
|---|---|---|---|
| All Clients | Interactive Brokers Ireland Limited (IBIE), MEXEM Ltd | Central Bank of Ireland | €20,000 |
MEXEM offers negative balance protection for forex spot and CFD trading exclusively to retail clients within the European Union. Professional and non-EU clients do not receive coverage under any negative balance protection.
Account Opening Process
Opening an account with MEXEM is entirely digital and uncomplicated, without any obligatory minimum deposit. Throughout the process, you’ll be prompted to furnish personal details and respond to inquiries regarding your employment status and trading background. Upon completion, you’ll need to validate your identity and residency by uploading essential documents, such as a passport, national ID, or driver’s license, along with supporting evidence like a bank statement, utility bill, credit card statement, or notarized document.
Account Types
| Account Type | Description |
|---|---|
| Individual | Account owned by an individual |
| Joint | Account owned by two individuals |
| Advisor | Account for minor clients |
| Money Manager | Account for an individual managing client administration and client funds |
| Family Office | Account for a Family Office Manager |
| Friends & Family | Account for a group of up to 15 members |
| Small Business | Account for small companies |
| Copyright Trading Group | Account for a corporation, unincorporated legal structure, partnership, or limited liability company |
| Hedge & Mutual Fund | Account for an investment manager to manage a single investment or multiple funds |
| Compliance Officers | Account for corporations to keep a track record |
Products
At MEXEM, you have access to an extensive array of markets and nearly all product types, excluding cryptocurrencies. MEXEM boasts a diverse product selection, particularly excelling in stocks, ETFs, and bonds. Additionally, MEXEM offers some more unique assets like warrants and structured products. However, MEXEM falls short compared to its competitors primarily in terms of FX pair selection and the absence of cryptocurrencies. MEXEM facilitates access to over 150 exchanges worldwide.
Stocks
MEXEM offers access to a wider variety of stock markets compared to its competitors. This encompasses major exchanges such as NASDAQ, the New York Stock Exchange, and the London Stock Exchange, as well as smaller ones like the Warsaw Stock Exchange and markets in Mexico. Alongside regular stocks, penny stocks are also accessible through MEXEM.
Fees
MEXEM offers low, competitive trading fees for stocks, ETFs, bonds, and mutual funds. However, its fees for options and futures are average, and there are no inactivity charges. On the downside, forex and margin fees are comparatively high.
Low Stock Commissions
MEXEM’s fees for trading US stocks are below the industry average. These fees are determined as follows: $0.005 per share, with a minimum of $2.5 and a maximum of 2% of the trade value.
| Stock Type | Commission Cost |
|---|---|
| US Stock | $2.5 |
| UK Stock | $3.1 |
| German Stock | $1.9 |
High Margin Rates
Among the brokers we have reviewed, MEXEM has the highest USD margin rate fees. These fees are computed as the Fed Funds effective rate plus a mark-up.
| Margin Rate Currency | Annual Margin Rate |
|---|---|
| USD Margin Rate | 15.3% |
| EUR Margin Rate | 13.9% |
| GBP Margin Rate | 15.2% |
Withdrawal, Inactivity & Other Fees
There are no fees for inactivity, account maintenance, or deposits. The initial withdrawal each month is complimentary, but subsequent withdrawals incur charges. The fee varies based on the currency and withdrawal method.
| Fee Type | Fee Value |
|---|---|
| Account Fee | ❌ |
| Deposit Fee | ❌ |
| Conversion Fee | 0.05% |
| Inactivity Fee | ❌ |
| Withdrawal Fee | ❌ |
Conclusion
In conclusion, MEXEM distinguishes itself as a respected and globally renowned broker, providing a full range of services to traders and investors worldwide. With a firm focus on regulatory adherence and safeguarding investor interests, MEXEM’s commitment to transparency and security is praiseworthy. The platform offers an extensive selection of markets, advanced tools, and educational materials to cater to the diverse needs of traders. Additionally, its flexible account choices and convenient funding methods enhance its appeal. However, it’s important to acknowledge that while MEXEM offers robust features, there are other brokers with lengthier track records that may warrant consideration as alternative options.
