Looking for the top forex broker in Mexico? Based on our hands-on analysis, we’ve identified the 9 best options tailored to various trading needs. Practical tips from our experts are included.
Forex trading in Mexico is regulated by the Comisión Nacional Bancaria y de Valores (CNBV), which oversees financial market operations to ensure transparency and fairness. This regulatory body mandates that Forex and CFD brokers operating in Mexico comply with local financial laws, including maintaining adequate capital reserves and providing clear trading conditions. The CNBV’s role includes safeguarding traders from potential market abuses and enforcing strict compliance standards for licensed brokers.
In Mexico, traders have access to a mix of local and international Forex brokers, but it’s crucial to verify their registration with the CNBV for security and regulatory compliance. The Mexican Forex market also adheres to specific rules regarding leverage and margin trading, designed to protect investors from excessive risk. Additionally, traders need to be aware of tax implications and reporting requirements for Forex trading profits in Mexico.
To choose the best brokers in Mexico, we used the FX Empire’s 250-point rating system to find the leaders in each category. We focused on the following key features:
Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. I subsequently used my 16 years of forex trading experience to examine and analyze all our findings, resulting in the selection of the best brokers for Colombian traders across various categories. You can read more about it and how we conduct our tests here.
Now, let’s explore the selected brokers.
Founded in 2009, Vantage offers trading in currency pairs, indices, commodities, stocks, and cryptocurrencies. The broker is regulated by ASIC and CIMA.
Regional Features:
My research indicates that Vantage offers a wide range of tradable platforms, including MetaTrader 4, MetaTrader 5, ProTrader, and the Vantage App. Additionally, advanced traders will benefit from the free VPS hosting, which is an important feature for automated trading.
The broker also excels in research support. This includes regular updates from the in-house team and a sentiment data tool, which displays the total long and short positions of over 50,000 Vantage clients. Personally, I believe sentiment data is a vital analytical tool for the contemporary trader. Talking about the educational support, Vantage provides Vantage Academy, which is also available in Spanish language.
Regarding fees, our assessments showed that Vantage features competitive spreads across multiple assets. For example, the EUR/USD spreads ranged between 1.2 and 1.4, while GBP/JPY spreads were between 2.2 and 3.1. The spreads were particularly low in the indices section, with Dow Jones ranging from 1.0 to 1.3 and DAX spreads as narrow as 0.5.
Founded in 2008, Exness offers trading in forex pairs, indices, cryptocurrencies, stocks, and commodities. The broker is authorized by multiple regulators, including the top-tier Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).
Regional Features:
Exness provides a well-rounded offering, which includes a wide choice of trading platforms, competitive fees, and a solid range of tradable instruments. Exness’ clients benefit from access to the feature-rich and user-friendly Exness Terminal platform. The platform has a user-friendly interface and popular features like watchlists, 1-click trading, and trading from the chart. The platform also features a sentiment indicator that highlights the percentage of buy and sell orders recently opened by the broker’s clients. Additionally, traders have the option to utilize the widely-used MetaTrader 4 and MetaTrader 5 platforms.
The broker supports various deposit and withdrawal methods, including cryptocurrencies. An additional advantage for professional traders is the free access to VPS hosting. Traders will also benefit from trading signals by Trading Central, available in the personal area under “Analyst Views.”
Our live tests revealed that Exness offers competitive fees for their standard account. The spreads for the EUR/USD pair ranged between 0.8 and 1.0, while the spreads for the GBP/JPY pair were around 2.0.
OCTA, established in 2011 and based in St Vincent and the Grenadines, is a globally recognized Forex and CFD broker. Known for its well-balanced offerings, the company has rapidly become a trusted name in the financial industry. Catering to a diverse clientele, OCTA has built a reputation for providing reliable and accessible trading services to traders around the world.
Regional Features:
OCTA has developed its own trading app which is designed for efficient and flexible trading. It allows traders to easily manage their personal profiles, fund their accounts, and access real, demo, and contest accounts anytime, anywhere. The app offers a choice between trading on the in-house OctaTrader platform or the widely-used MetaTrader 4, catering to the varying preferences of traders.
Additionally, the broker offers a copy trading app that enables clients to emulate the strategies of experienced traders by automatically copying their trades. This feature includes an in-depth view of Master Traders’ statistics, such as risk scores, gains, and trade history, allowing clients to make informed decisions about whom to follow.
OCTA provides two retail account types with commission-free trading and floating spreads starting from 0.6 pips. My personal trading experience with the broker, executing a sizable EURUSD position, resulted in a trade cost significantly below the industry average.
Founded in 2009 and headquartered in Cyprus, FBS is a reputable forex and CFD broker, regulated by CySEC, ASIC, FSCA, and IFSC Belize. The firm offers trading of over 150 trading instruments via renowned MetaTrader 4 and MetaTrader 5 platforms.
Regional Features:
Both MT4 and MT5 are available in desktop, web, and mobile versions. Additionally, FBS facilitates the use of MetaTrader 4 MultiTerminal, enabling the simultaneous management of multiple accounts. MultiTerminal features one-click trading and supports trading operations across all managed accounts.
Our research reveals that FBS provides robust educational resources, encompassing educational articles, platform tutorials, videos, a glossary, trading ideas, and comprehensive courses. These materials are categorized by skill level, ensuring both novice and experienced traders find relevant and enriching content. Furthermore, the broker’s research support is bolstered by news and analysis from a dedicated team of in-house market experts.
Our evaluations found that FBS offers competitive spreads on major forex pairs. For instance, spreads for EUR/USD ranged between 0.8 and 1.1. Spreads for the Dow Jones Industrial Average fluctuated between 3.3 and 6.0, while WTI Oil spreads averaged at 0.05. According to our assessments, swap fees were on par with industry averages. Notably, FBS does not impose deposit or withdrawal fees and applies an inactivity fee of $5.
Established in 2009, RoboForex is headquartered in Belize and operates under the regulation of the Financial Services Commission (FSC) of Belize. The broker provides a wide range of trading options, including currency pairs, commodities, stocks, indices, and futures.
Regional Features:
RoboForex clients can leverage the advanced R StocksTrader platform and its mobile counterpart, R Mobile Trader, along with the renowned MetaTrader 4 and MetaTrader 5 platforms. The broker’s R StocksTrader Strategy Builder, equipped with historical price data dating back to 1970, facilitates the creation and backtesting of diverse automated trading strategies. For traders maintaining a minimum balance of $300 and a monthly trading volume of 3 lots, RoboForex offers complimentary VPS hosting.
In addition to these features, RoboForex provides tools such as a currency heatmap, an economic calendar, and technical signals accessible from the client area, utilizing various indicators to analyze market sentiment. The broker also offers access to over 12,000 instruments across different asset classes via the R StocksTrader account.
Fee-wise, RoboForex demonstrates a competitive edge with spreads and commissions below the industry average like EUR/USD spreads ranging from 0.0 to 0.2 and GBP/JPY spreads between 0.9 and 1.0. Notably, RoboForex does not impose inactivity fees and allows free deposits and withdrawals twice a month.
Founded in 2011, FXTM offers trading in forex, indices, stocks, and commodities. The broker is regulated by FCA, CySEC, FSCA, CMA (Kenya) and FSC Mauritius.
Regional Features:
FXTM provides access to the popular MT4 and MT5 platforms, as well as the in-house FXTM Trader mobile app. FXTM also offers copy trading services. To gain access, clients must open an Invest account in MyFXTM. Then, they should choose the strategy manager they like and automatically copy their trading setups. Strategy managers (experienced FXTM traders) use Advantage or Advantage Plus MT4 accounts to trade.
Traders have access to a robust educational offering along with solid research support from FXTM’s in-house team that covers both fundamental and technical analysis. FXTM offers articles, ebooks, and video content to help new traders navigate the complexities of the markets. Furthermore, the broker assigns clients a dedicated customer solutions representative, facilitating even smoother interaction with the broker.
My research indicated that trading costs for the Micro account were average for the industry. For example, I found that the spread for gold varied between 36 and 45, while the spread for EUR/USD was 2. The Advantage account offered more competitive spreads but also involved commission charges. The broker provides multiple deposit and withdrawal options, including local ones.
Founded in 2007 and headquartered in Australia, AXI provides over 250 financial instruments, including 35 crypto CFDs. Traders can benefit from AXI’s top-of-the-line market research by Trading Central and Autochartist and ultra-fast order execution.
Regional Features:
AXI provides free Virtual Private Server (VPS) hosting for ultra-fast order execution speeds below 5 milliseconds and stable internet connectivity. Traders can also use it in combination with MT4’s Expert Advisors (EAs) feature to automate their trading systems and scalp all trading opportunities.
I conducted my tests by opening a Standard account with the broker, which features zero commissions and floating spreads from 0.9 pips. I discovered that the Bitcoin spread averaged $25, beating the industry average of $35. The Standard account does not have a minimum deposit requirement, making it accessible to all traders.
Established in 2005, FP Markets provides trading opportunities in forex pairs, commodities, stocks, indices, ETFs, and cryptocurrencies. The broker is regulated by CySEC, ASIC, and FSCA and also has an unregulated entity registered in St. Vincent & the Grenadines.
Regional Features:
Our live tests indicated that FP Markets offers mid-to-low spreads compared to the broader industry. For example, during our evaluation, the EUR/USD spreads varied between 1.0 and 1.2, while the GBP/JPY spreads hovered between 1.5 and 1.9. In the stock segment, we observed that the spreads for Apple stocks were at 0.06, and for Tesla, they were at 0.13. Notably, the broker does not impose deposit, withdrawal, or inactivity fees.
My research revealed that FP Markets offers a diverse array of tradable instruments, including 680+ stocks from Europe, the UK, the U.S., and Asia. The broker also provides VPS hosting, which is a valuable feature for algorithmic traders. Copy trading services include Signal Start and FP Markets Copy trading, so professional traders will have a choice of platforms to provide their trading signals.
Additionally, FP Markets offers a Traders Toolbox for MetaTrader 4. This is a set of 12 distinct tools, which includes Correlation Trader (compares correlations between two symbols), Sentiment Trader (gauges market sentiment), and Excel RTD (inserts account, ticket, and price data into Excel). Personally, I find correlation tools very handy for coming up with new trade ideas. FP Markets also offers other well-known analysis tools like Autochartist and Trading Central.
Founded in 2006, AvaTrade provides a broad range of financial instruments, including stocks, ETFs, forex pairs, options, indices, commodities, cryptocurrencies, and bonds. The broker is regulated by multiple authorities, including CySEC, ASIC, and the FSA of Japan.
Regional Features:
AvaTrade provides a wide choice of trading platforms, including the popular MT4/MT5, the more user-friendly AvaTrade Web platform, and the AvaTradeGO app. The broker’s offerings encompass various asset classes, including bonds and forex options, which are not commonly included in typical brokers’ portfolios.
Traders have access to the popular Trading Central research tool. AvaTrade also provides AI-powered trading signals, which may help beginner traders start their trading journey and build their trading skills. Beginner traders will also benefit from the AvaProtect risk management tool, which allows them to protect trades against losses for a fee. The tool is available exclusively on AvaTrade platforms.
My hands-on examination revealed that AvaTrade’s fees for forex and commodities are more competitive than the industry average. For instance, during the live testing, the spreads for the EUR/USD pair averaged around 0.9, while those for WTI oil were approximately 0.03. However, the spreads for indices and stocks were on the higher side, with the Dow Jones index ranging from 5 to 6 and Tesla shares at a spread of 1.98.
Use our guide to define the best forex broker in Mexico according to your trading goals.
The process of choosing a broker begins with learning where your potential broker is regulated. In our research, we divide regulators into three tiers: Tier-1, Tier-2, and Tier-3.
Traders should prioritize essential safeguards such as negative balance protection, segregated funds, and compensation funds, all of which offer reassurance in case of financial issues. It’s important to note that offshore regulators generally don’t enforce stringent leverage limits, offering traders access to high levels of leverage but with fewer protections. You should be aware that compensation schemes may not always be in place. Consequently, if a broker encounters financial difficulties, traders will likely have to navigate the situation on their own.
Read more about the best regulated forex brokers in our detailed guide.
The brokers featured in our list provide offshore-regulated entities for clients based in Mexico. These entities ensure negative balance protection and maintain segregated funds for client security. At the same time, they offer a high level of leverage.
Typically, brokers charge spreads, commissions, swap/rollover fees, and inactivity fees.
You should understand the differences between various types of accounts.
In today’s trading landscape, it’s common to find brokers offering platforms such as MetaTrader 4 and MetaTrader 5. While these platforms come equipped with a range of tools, they’re typically more appropriate for traders with some experience. Beginners may find these platforms challenging initially and might need time to familiarize themselves with the complexities. Find out more about each platform in our dedicated guides on best MT4 brokers and best MT5 brokers.
Alternatively, some brokers offer their own proprietary trading platforms, designed with a broader range of traders in mind. These in-house platforms usually stand out for their ease of use and intuitive navigation, making them a more welcoming option for those new to trading.
The choice of a trading platform should align with your trading style, experience, and personal preferences. In my view, if you’re just starting out, you’ll likely be better served by a broker’s proprietary, user-friendly platform or mobile app. On the other hand, seasoned traders often lean towards the advanced functionalities offered by platforms like MT4 or MT5. You can also check out our dedicated guide on best forex trading platforms.
Leverage provides traders with the opportunity to boost their profits through the use of borrowed funds. The higher the leverage, the greater your potential profits may be. However, leverage acts as a double-edged sword, as it can also magnify your potential losses. Therefore, I recommend that beginner traders start with low levels of leverage to minimize the risk of substantial losses.
For those comfortable with these dynamics, FX Empire offers a list of the best forex brokers with high leverage, carefully selected to suit specialized trading needs.
Mexico-based traders can open accounts with offshore entities of the brokers, so they will get access to high levels of leverage, like 1:500 and even 1:unlimited.
Based on my trading experience, I have outlined the five things to avoid when choosing a broker:
To safeguard yourself against forex scams, follow these essential guidelines:
And if you are still uncertain, you can always check out our database of reviews to find the most reliable brokers.
FX Empire, with a history dating back to 2011, has established itself as a reputable authority in broker reviews. Our extensive experience in evaluating CFD brokers, spanning over a decade, has led us to develop a meticulous and comprehensive review strategy. Adhering to stringent guidelines for editorial integrity, we consistently uphold our commitment to deliver unbiased evaluations.
We follow a diligent protocol for our review process, integrating objective criteria and quantifiable data. This methodical approach allows us to generate a justified score that accurately reflects the performance of a broker. Our mission is to provide traders with thorough and unbiased reviews, empowering you to make well-informed decisions aligned with your specific needs.
To choose the best brokers for you, we rate them across nine categories and calculate a score that reflects their performance. The categories include:
We open accounts, test platforms, measure spreads, and chat with support teams to collect as much data as possible for each broker. Overall, we evaluate brokers based on more than 250 distinct data points. Every category receives a rating from one star (weak) to five stars (excellent). The broker’s total score depends on its performance in each of these nine categories.
For this guide, I focused on forex brokers that are best suited for traders based in Mexico. I have given priority to brokers offering specific features, such as customer support and website accessibility in the Spanish language, the availability of local deposit and withdrawal methods, as well as bonuses and promotions tailored to Mexican clients.
We highlight each broker’s strengths and weaknesses, explain regulatory details, and share the results of our live tests of brokers’ fees, customer support, and trading platforms. To learn more about our review process, click here.
The team of forex and CFD writers and editors at FX Empire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.