- What is MEX Exchange?
- MEX Exchange Pros and Cons
- Is MEX Exchange safe or a scam?
- Trading Instruments
- Deposits and Withdrawals
- Trading Platform
- Customer Support
- 55Brokers Financial Experts with over 10 years experience in Forex Trading check trading offering, fees, platforms, verified regulations, contacted customer service and placed traders to see trading conditions and give expert opinion about MEX Exchange
What is MEX Exchange?
MEX Exchange is an established broker providing Forex, Metals, Stocks, and CFDs trading and operating since 2012 throughout Australia and became one of the most regarded industry institutions. MEX Exchange offers its customers trading access through advanced trading platforms on a range of instruments including.
- Also, MEX Exchange is a part of a global group, a quite known company MultiBank with offices in Sydney, Los Angeles, Vienna, Frankfurt, Madrid, Cyprus, MEXFintech in Hong Kong, along with additional branches MEX Group Worldwide offices in Hong Kong, MEX Asset Management (Austria) GmbH, Beijing, Tianjin, Hangzhou, and Ho Chi Minh City, etc.
Overall, and as we will see further the details of MEX Exchange services provided, the broker became quite a big one as its services were delivered to over 280,000 retail and institutional customers throughout over 90 countries.
MEX Exchange Pros and Cons
MEX Exchange is a reliable broker with good education and trading proposals based on MT4 and a 0$ minimum deposit requirement. The broker provides exceptional trading experience with low spreads facilitated by ECN connection. With good education and outstanding customer support, the broker is a good choice for traders of any expertise level.
On the MEX Exchange Cons, the products are limited to Forex and CFDs, and there is no 24/7 support.
|Forex and CFDs trading||No 24/7 support|
|Great Forex education and trading capabilities|
|Mainstay on MT4|
|Fast account opening|
|No commission deposits and withdrawal options|
|0$ first deposit|
MEX Exchange Review Summary in 10 Points
|📉 Instruments||Forex, Metals, CFDs on Indices and commodities|
|💰 EUR/USD Spread||0.5 pips|
|🎮 Demo Account||Available|
|💳 Minimum deposit||$0|
|💰 Base currencies||Various currencies|
|📚 Education||Provided Education through partnerships and tools|
|☎ Customer Support||24/5|
Overall MEX Exchange Ranking
Based on our finds, MEX Exchange is a top-notch broker for traders at any stage of experience. With excellent service, remarkable trading conditions, and the most competitive spreads available, MEX Exchange has rightfully earned its spot as a leader in the industry.
- MEX Exchange Overall Ranking is 8.7 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
MEX Exchange Alternative Brokers
However, our experts noted that the broker lacks the range of platforms offering only MT4 which despite its popularity is a bit outdated and not suitable for advanced trading. Also, the broker has quite a limited market range offering only FX and CFD instruments. Another drawback is that it doesn’t provide 24/7 support and has no compensation scheme in case of a broker’s insolvency. We recommend you have a look at these alternative options as well:
- Pepperstone – Excellent Platform Choice
- Trade.com – Good Broker for Option Trading
- Interactive Brokers – Good for Real Stock Trading
Is MEX Exchange safe or scam?
MEX Exchange is not a scam, it is an Australian financial service firm that obliges fully to its laws and regulations providing low-risk trading. The task of control over financial firms is performed by the authority ASIC, a world-leading regulator. Read more about ASIC regulations by the link.
Is MEX Exchange regulated?
Yes, it is a regulated broker holding an ASIC license to operate in Australia. Also, it becomes obvious that MEX Exchange is a part of the MultiBank Exchange Group, which is a global financial investment group heavily regulated by world-recognized authorities across reputable jurisdictions.
Australia being a popular and reputable jurisdiction, therefore, strictly regulates its financial firms and obliges to high capitalization along with clients’ protection ensuring market integrity and healthy competition.
Our Conclusion on MEX Exchange Reliability:
- Our ranked MEX Exchange Trust Score is 8.9 out of 10 based on the broker’s reputation and quality service provided over the years. With good client and negative balance protection, the broker is in good standing with ASIC top-tier regulator
|MEX Exchange Strong Points||MEX Exchange Weak Points|
|ASIC regulated broker||No Compensation Scheme|
|Broker is part of the global financial company with a good record|
As for the ASIC regulations, MEX Exchange maintains the settled international rules for the money management and operation of the traders’ accounts with the highest protection level. That is involving segregation of the client accounts from the company funds, making it unreachable to the firm, also applying security of transactions.
All in all, the set of rules makes your investment secure by the country’s legislation, securing your interests and providing transparency overall trading process.
MEX Exchange leverage levels do not provide high leverage ratios for the past several years since leverage is considered a risky venture hence traders settle for less:
- Retail trader’s leverage for Australian clients is a maximum of 1:30 for all class assets
Nevertheless, it is always necessary to learn how to use leverage smartly, as many world regulators already decreased dramatically allowing leverage levels with the purpose to protect clients. In addition, there are specified margins for the trading of particular instruments which you should check and verify too, as margin call occurs when there are not enough trading funds.
MEX Exchange Account types
MEX Exchange account types offer two options designed to suit your style of trading. This proposal includes a Classic account with a spread-only basis, and an ECN Account with raw spreads and a $7 commission charge per trade, while both operate powerful execution based on STP bridges MEX Exchange group develops.
Actually, the stability of the performance is one of the main priorities in the MEX Exchange thus you’ll probably enjoy its conditions along with the price models it offers, also getting quotes from numerous liquidity providers.
|Fast digital account opening||None|
|Two account types offered|
|Spread or commission basis|
|Demo Account offered|
|Islamic Account available|
How to open an Account?
Digital account opening is a quite simple process, where you should submit the necessary information and documentation or order to set it all fine. You can follow an open account link and walk through the next steps.
- Follow Open Account link
- Provide personal data and trading experience to confirm your Live account
- Verify account through the link on your email and get access to your account area and Demo trading
- Make the first deposit
- Access trading and markets
MEX Exchange trading instrument range offer to trade Forex, Metals, and CFDs on Indices and Commodities. Through CFDs trading, you will get access to Cash Index trading, yet with no exchange fees that are typically charged if you trade Indexes directly.
Along with state of art ECN technology MEX Exchange developed transforming it into an unparalleled stability platform suitable for professionals and beginners, which is a good advantage even though that instrument range is rather basic.
Can you trade Crypto on MEX Exchange?
No, the broker does not offer crypto trading to its clients at this time.
- MEX Exchange Market Range is ranked 8 out of 10 for a good range of instruments with low spreads and no minimum deposits. However, the range is solely limited to FX and CFDs
MEX Exchange Fees
MEX Exchange fees are either built into spreads or charged as commission per trade. Also, alongside typical charge spread, or difference between the sell and buy prices, there are other payments to be considered including nontrading fees and inactivity fees, see the fee table below.
Does MEX Exchange charge commission?
Yes, the broker charges a US$7 commission per round turn, providing fluid access to the ECN account.
- MEX Exchange Fees are ranked low with an overall rating of 8.4 out of 10 based on our testing and compared to over 500 other brokers. Fees might be different based on entity offering
|Fees||MEX Exchange Fees||OctaFX Fees||AvaTrade Fees|
Additional costs that may be added to your positions are MEX Exchange swaps or overnight fees that are charged in case a position is held longer than a day. Swaps are calculated by each instrument since each currency pair has its own swap charge individually and may be checked directly from the platform.
Also, other costs may involve inactivity fees or fees that might be waived for withdrawals or deposits, so better to consider all packages altogether as we do in our MEX Exchange Review.
MEX Exchange spreads are defined by the account type you operate. Therefore, the Standard account with all costs included in spread features spreads from 0.5 pips with no other costs, which is a good option for easy calculation over the take positions.
In case you prefer to use MEX ECN, you will get raw spreads starting from 0.0 pips but with a commission charge of $7. You may see some examples of Forex spreads below for the Classic account, while we found MEX fees are quite competitive, as well you can compare fees to BlackBull Markets.
- MEX Exchange Spreads are ranked low with an overall rating of 8.6 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower than the industry average of 1.2 pips for EURUSD, and spreads for other instruments are very attractive too
Asset/ Pair MEX Exchange Spread OctaFX Spread AvaTrade Spread EUR USD Spread 0.5 pips 0.5 pips 1.3 pips Crude Oil WTI Spread 2 pips 2 pips 3 pips Gold Spread 15 20 40
Deposit and Withdrawal Methods
MEX Exchange funding methods offer a selection of instant, simple and secure payment options for deposits and withdrawals while all manipulations are done through a Client Portal. Besides, you may choose desired base currency so money transfers will not incur additional conversion fees.
- MEX Exchange Funding Methods are ranked Excellent with an overall rating of 8 out of 10. There is no minimum deposit and Fees are either none or very small also allowing one to benefit from various account-based currencies
Here are some good and negative points for MEX Exchange funding methods found:
|MEX Exchange Advantages||MEX Exchange Disadvantages|
|No deposit requirement||None|
|No Withdrawals free|
|Card payment supported|
|Multiple base currencies|
Deposit fees and Options
Generally, you may select a payment provider among
- e-wallet Neteller, Skrill, China UnionPay,
- Wire or Bank transfer,
- Card payment
What is the minimum deposit for MEX Exchange
MEX Exchange has no deposit requirement. This means, traders can define the amount to start with, as a minimum is 0$ for Standard or ECN Accounts, but check on all the necessary margins for the instrument you will be trading.
MEX Exchange minimum deposit vs other brokers
|MEX Exchange||Most Other Brokers|
MEX Exchange withdrawal charges no internal fees. Yet, depending on the payment provider as well as international laws some fees may be applicable, so you always better check them with the payment provider directly as they are falling on your side.
How long does it take to withdraw money from MEX Exchange?
Typically broker confirms your withdrawal request within 1-2 business days, however always add extra days as payment providers may take their time to process the transaction, which always depends on your country of origin.
MEX Exchange Trading Platforms
MEX Exchange trading platform range offers you trading capability through a popular choice of MT4 technology platform that is also enabled through a partial fill with bridge technology. Even though MetaTrader4 is a quite known platform among world traders, MEX Exchange enhanced software with an additional add-on and numerous features maximizing its capabilities for successful trading.
- MEX Exchange Platforms are ranked 7.7 out of 10 compared to other 500 brokers. The platform choice is good since is the most popular one in the industry, however, the lack of alternative options is a major drawback
Trading Platform Comparison to Other Brokers:
|Platforms||MEX Exchange Platforms||Pepperstone Platforms||AvaTrade Platforms|
Initially, Web Trading allows you to access the trading room without any specified software, by a simple load of pages through the browser you can get to your account and trade. This is indeed very useful under any circumstances, yet note more comprehensive tools and some add-ons or features are available only through the desktop version, so for advanced trading, you better install one.
There are few versions of the software suitable for various devices, as well as constantly undergoing development. The platform itself is known under the name MEX NexGen MT4 which is an online-based platform with all instruments and comprehensive analysis MT4 is famous for.
Also, the platform fully supports APIs, Algos, non-restricted Expert Advisors, and access through PAMM accounts available for managers, so all the comprehensive features along with thousands of research and analysis tools are here.
Mobile Trading Platform
The mobile app is also included in the package, while the app is simple to use and packed with a wide range of tools at same time. MT4 mobile offers various charting capabilities also customization which is fantastic for mobile trading along with full management of your account.
MEX Exchange provides customers with multiple support in any case or question. The 24h customer service is available in 10+ languages with the service desk, onboarding, configuration, and cash management are also accessible via chat, email, phone lines, etc.
- Customer Support in MEX Exchange is ranked Excellent with overall rating 9 out of 10 based on our testing. We got some of the fastest and most knowledgeable responses compared to other brokers, also quite easy to reach during the working days
See our find and Ranking on Customer Service Quality:
MEX Exchange Education
Beginners may count on educational support through learning materials, videos, tutorials, and seminars designed according to their level of experience and suitable for their demands. Indeed, education and good knowledge is a key to success in trading so here MEX Exchange is your good partner too, as long as the broker partners with LepusProprietaryTrading a well-recognized trading veteran company providing quality knowledge.
- Further in the trading process broker also provides up-to-date online financial news in multiple languages that were timely recognized too, where MEX Exchange runs its own Blog.
Research materials and analytical tools are available through the platform, which also offers Autochartist and a great option to benefit from DupliTrade’s advanced auto-execution mirror system, recognized as a leading signal provider for Forex, Indices, and Commodities trading.
- MEX Exchange Education ranked with an overall rating of 8.8 out of 10 based on our research. MEX Exchange provides very good quality Education Materials, and excellent research and provides free Webinars, Excellent Trading videos, and Analysis
MEX Exchange Review Conclusion
Overall, MEX Exchange might be a good option to consider for both beginning and professional traders. MEX Exchange has strong background and years of proven trading service success, also developed a powerful technology base to provide trading, also enhanced offers with numerous assets to trade, availability of account types to choose from, and education materials.
So, MEX Exchange might be a good option to consider for both beginning and professional traders.
- Beginning Traders
- Professional Traders
- Traders from Australia
- Algorithmic or API Traders
- EAs running
- Copy Trading
- Scalping / Hedging Startegies
- Traders who prefer MT4 platform
- Currency Trading and CFD Trading
- Suitable for a Variety of Trading Strategies
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