What’s MEX Exchange?
MEX Exchange is a company established in the field of online financial trading, which has been operating through Australia since 2012 and has become one of the industry’s most prestigious institutions. MEX Exchange offers its customers access to trading on a variety of instruments, including Forex, Metals, Stocks and CFDs, through advanced trading platforms.
MEX Exchange is also part of a multinational network, a well-known MultiBank corporation with offices in Sydney, Los Angeles, Vienna, Frankfurt, Madrid, Cyprus, MEXFintech, Hong Kong, as well as additional 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 more details of the MEX Exchange services offered, the broker has become very broad as its services have been distributed to over 280,000 retail and institutional customers in more than 90 countries.
- MEX Exchange is a international broker based in Australia
- Broker of good reputation and excellent record of regulatory obligations imposed by the ASIC
- Instrument collection providing CFDs on Indexes, Currencies and Services with no exchange costs
- Demo Profile – Yes
- No minimum deposit requirements
- Trading costs and spreads are a low variety of platforms like the common multi-device MT4.
- Tools for research and trading ideas incorporated into the trading platform
- Education is at a very good level through coordinated partnerships and available resources
- Customer Service is available 5 days a week.
Thus, by offering its unparalleled experience in technology, trading systems and competent approach to FX and CFD traders, MEX Exchange also provides vast trading opportunities with tight pricing and high-performance conditions. In addition, there are a range of resources, including educational materials, offered by a collaboration with LepusProprietaryTrading, a renowned Forex educator, all supported by guidance on any issue you might have.
There are additional incentives for Money Managers by PAMM or MAM accounts and various institutional services, which have all been recognized by MEX Exchange as a major trading company with several industry awards and recognition. And that’s despite a large number of satisfied traders they represent, who appreciate their accomplishments as well.
Is MEX Exchange secure or is it a scam?
MEX Exchange is an Australian financial exchange company that completely complies with the laws and regulations. As Australia is therefore a common and respectable jurisdiction, it strictly regulates its financial firms and obliges high capitalization, along with the security of consumers, to ensure market integrity and healthy competition.
Is MEX Exchange legit?
Yes, because of its registration and regulation in Australia, it is a legal broker. It is also evident that MEX Exchange is part of the MultiBank Exchange Network, a multinational financial investment community that is heavily supervised by world-renowned authorities across renowned jurisdictions.
As far as the ASIC Regulations are concerned, MEX Exchange retains existing international rules for the management and operation of the accounts of traders with the highest degree of security. It includes segregating client accounts from company assets, rendering them unreachable to the firm, and also applying transaction protection.
Overall, the collection of rules guarantees that your investment is protected by country law, that your interests are safeguarded and that the overall trading mechanism is transparent.
Obviously, as an Australian financial investment company, MEX Exchange also requires high leverage levels of up to 1:500 to be open to retail traders. Obtained leverage also depending on the instrument you exchange, as well as the level of the dealer, allowing professionals to reach higher rates after their status has been verified.
- Retail traders max leverage is 1:500 for major currency pairs, 1:100 for commodities.
However, it is also important to learn how to use leverage smartly, because many of the world’s regulators have now significantly reduced leverage rates with the intention of protecting clients. In addition, there are defined margins for trading in different instruments that you should always test and verify, because a margin call happens when there are not enough trading funds.
Opening an Account
Another point in the MEX Exchange Review is the account range, where we see two styles of accounts tailored to fit your trading style.
Forms of Account
This proposal involves a spread-only standard account and an ECN account with a commission charge per transaction, while both operate powerful execution based on the creation of the STP bridges by the MEX Exchange group.
In fact, output reliability is one of the key priorities of MEX Exchange, so you’ll probably enjoy its conditions along with the price models it provides, and you’ll also get quotes from a range of liquidity offerings.
How to Open Your Account
Opening a digital account is a very simple process, where you should submit the necessary information and documentation or order to set it all right.Go through the next steps:
- Follow the Open Account link
- Provide personal data and trading knowledge to validate your Live account
- Verify your account via a connection on your email address and get access to your account area and Demo trading
- Make your first deposit
- You can now access trading and markets
What are MEX Exchange Fees?
A significant point that any trader should bear in mind conscerns commissions or what you have to pay to the broker for the services it provides. Besides the usual charges] spread or the disparity between selling and purchasing rates, other payments need to be considered.
MEX Exchange spreads are normally identified by the type of account you run. Therefore, the Standard account with all costs included in the spread includes spreads from 0.5 pips with no extra costs, which is a nice choice for quick calculation over the take positions.
If you choose to use MEX ECN, you will get raw spreads starting from 0.0 pips, but with a commission fee of $7. You can see some examples of Forex spreads below for the Classic account, though we consider MEX fees to be quite competitive.
Trading Fees of MEX Exchange vs Similar Brokers
|Asset/Pair||MEX Exchange Fees||OctaFX Fees||AvaTrade Fees|
|EUR USD||0.5 pips||0.5 pips||1.3 pips|
|Crude Oil WTI||2 pips||2 pips||3 pips|
Additional charges that can be applied to the positions are MEX Exchange swaps or overnight fees that are charged in the event of a position held more than one day. Swaps are determined by each instrument, as each currency pair has its own swap fee on its own and can be seen directly from the website.
Other costs may also involve inactivity fees or charges that may be waived for withdrawals or deposits, so it is better to consider all packages together as we do in our MEX Exchange Review.
Snapshot of rates for MEX Exchange
MEX Exchange builds its portfolio with opportunities of Forex, Metals and CFDs trading along with a bulk of traded instruments. Through trading in CFDs, you would have access to trading in the Cash Index, but without any exchange fees that are normally charged if the trade indexes are directly paid.
Together with state-of-the-art ECN technology, MEX Exchange has built its portfolio into an unparalleled stability platform suitable for pros and noivces, which is a good advantage even though the selection of instruments is quite limited.
Deposits and Withdrawals
MEX Exchange provides a variety of fast, easy and safe payment solutions for deposits and withdrawals while all withdrawals are done via the Client Portal. In addition, you can choose the appropriate basic currency so that money transfers do not incur additional conversion fees.
Deposit Fees and Options
All in all, you can choose between payment providers:
- e-wallet: Neteller, Skrill, China UnionPay,
- Wire or bank transfer,
- Payment by Card
What is the Minimum Deposit on the MEX Exchange?
What’s also perfect for beginning traders or basically anyone else, is that MEX Exchange lets you start with no deposit requirement. Means, you can define the amount you want to start with, as the minimum is $0 for Standard or ECN Accounts, but check all the necessary margins for the instrument you are trading with.
If you wish to withdraw money from your trading account or deposit at the first MEX Exchange, no internal fee will be charged. However, depending on the payment provider as well as foreign laws, certain fees can apply, so you should always verify them directly with the payment provider, as they are on your side.
How long does it take to remove money from MEX Exchange?
Usually, the broker approves the withdrawal request within 1-2 business days, but also adds extra days as payment providers may take their time to process the transaction, which also depends on the country of origin.
Platforms for Trading
Mex Exchange offers you trading capabilities through a common option of MT4 technology platform that is also made possible through partial bridge technology. While MetaTrader4 is a well-known placefor global traders, MEX Exchange has improved software with an additional add-on and various features that improve its ability to trade successfully.
Initially, Web Trading allows you to enter a trading room without any required software, by simply loading a page through a browser that allows you to access your account and trade. This is also quite useful in any conditions, but remember more extensive software and some add-ons or enhancements are only available via the desktop edition, so you’d better install one for advanced trading.
There are few software versions suitable for different devices that constantly undergo development. The platform itself is known by the name of MEX NexGen MT4, an online platform with all the instruments and a detailed MT4 analysis that it is famous for.
The platform also fully supports APIs, Algos, non-restricted Expert Advisors and access via PAMM accounts open to managers, so that all the robust functionality along with thousands of research and review resources can be found here.
Mobile Trading Platform
The iOS app is also included in the kit, although the software is easy to use and filled with a wide variety of resources at the same time. MT4 mobile also provides numerous charting features that are great for mobile trading along with the complete management of your account.
With its global scope, a variety of businesses offer numerous assistance or questioning to consumers in all situations. A 24-hour customer support available in 10+ languages with a service desk, on-boarding, setup and cash management can also be accessed through chat, email, phone lines, etc.
Novices may rely on educational support through learning materials, videos, tutorials and workshops tailored to match their level of expertise and to meet their needs. Indeed, education and good knowledge are key to success in trading, so here too, MEX Exchange is your good partner, as long as the broker partnered with LepusProprietaryTrading is a well-recognized veteran trading company providing quality knowledge.
In addition, in the trading cycle, brokers also have up-to-date online financial news in various languages that have been recognized in due time, where MEX Exchange runs its own blog.
Research materials and analytical tools accessible via the site, also offering Autochartist and a great opportunity to benefit from DupliTrade’s advanced auto-execution mirror program, recognized as the leading provider of Forex, Indices and Commodities trading signals.
Overall, the MEX Exchange Analysis showed a organization with a solid history and years of demonstrated market success. MEX Exchange has built not only a powerful technology base to provide trading, but also an expanded range of various trading tools, variety of account types to choose from, all supported by educational materials and support.
Overall, MEX Exchange may be a good option for both beginners and professional traders to consider.