MEX Exchange Review
Leverage: 1:30
Regulation: ASIC
Min. Deposit: US$0
HQ: Australia
Platforms: MT4
Found in: 2012
MEX Exchange Licenses
- MEX Australia Pty Ltd – authorized by ASIC (Australia) registration ACN 155 084 058 AFSL 416279
Leverage: 1:30
Regulation: ASIC
Min. Deposit: US$0
HQ: Australia
Platforms: MT4
Found in: 2012
MEX Exchange Licenses
MEX Exchange is an established broker providing Forex, Metals, Stocks, and CFDs trading and operating since 2012 throughout Australia and became one of the most regarded industry institutions. MEX Exchange offers its customers trading access through advanced trading platforms on a range of instruments including.
Overall, and as we will see further the details of MEX Exchange services provided, the broker became quite a big one as its services were delivered to over 280,000 retail and institutional customers throughout over 90 countries.
MEX Exchange is a reliable broker with good education and trading proposals based on MT4 and a 0$ 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.
Pros | Cons |
---|---|
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 |
🏢 Headquarters | Australia |
🗺️ Regulation | ASIC |
🖥 Platforms | MT4 |
📉 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 |
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.
Ranking | MEX Exchange | HYCM | Pepperstone |
---|---|---|---|
Our Ranking | ⭐⭐⭐⭐ | ⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
Advantage | Low Spreads | Options | Platforms |
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our experts noted that the broker lacks the range of platforms offering only MT4 which despite its popularity is a bit outdated and not suitable for advanced trading.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:
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.
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:
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 | |
Good reputation |
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:
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 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.
Pros | Cons |
---|---|
Fast digital account opening | None |
Two account types offered | |
Spread or commission basis | |
Demo Account offered | |
Islamic Account available |
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.
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.
No, the broker does not offer crypto trading to its clients at this time.
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.
Yes, the broker charges a US$7 commission per round turn, providing fluid access to the ECN account.
Fees | MEX Exchange Fees | OctaFX Fees | AvaTrade Fees |
---|---|---|---|
Deposit fee | No | No | No |
Withdrawal fee | No | No | No |
Inactivity fee | Yes | Yes | Yes |
Fee ranking | Low | Low | High |
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 $7. You may see some examples of Forex spreads below for the Classic account, while we found MEX fees are quite competitive, as well you can compare fees to BlackBull Markets.
Asset/ Pair MEX Exchange Spread OctaFX Spread AvaTrade Spread EUR USD Spread 0.5 pips 0.5 pips 1.3 pips Crude Oil WTI Spread 2 pips 2 pips 3 pips Gold Spread 15 20 40
MEX Exchange funding methods offer a selection of instant, simple and secure payment options for deposits and withdrawals while all manipulations are done through a Client Portal. Besides, you may choose desired base currency so money transfers will not incur additional conversion fees.
Here are some good and negative points for MEX Exchange funding methods found:
MEX Exchange Advantages | MEX Exchange Disadvantages |
---|---|
No deposit requirement | None |
No Withdrawals free | |
Card payment supported | |
Multiple base currencies |
Generally, you may select a payment provider among
MEX Exchange has no deposit requirement. This means, traders can define the amount to start with, as a minimum is 0$ 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 | |
Minimum Deposit | $0 | $500 |
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.
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 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.
Platforms | MEX Exchange Platforms | Pepperstone Platforms | AvaTrade Platforms |
---|---|---|---|
MT4 | Yes | Yes | Yes |
MT5 | No | Yes | Yes |
cTrader | No | Yes | No |
Own Platform | No | Yes | Yes |
Mobile App | Yes | Yes | Yes |
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.
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.
See our find and Ranking on Customer Service Quality:
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.
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.
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.
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Scam broker that they didn’t make client withdrawl in the whole chinese market at the past 2 months. It’s the 2nd time they did this. And now they’re moving on to middle east to continue their scam. stay away from this broker.
How am I going to make profit without a deposit?
goodday
do you offer market execution and high execution speed?
Interested
I looking for market execution type, high execution speed 0,5 second, account type std
How do I trade without a deposit ? Pls shed more light on the issue of zero account. Thanks