History and Founding
MEX Exchange is a global online trading platform, founded with the aim of offering an efficient and user-friendly trading experience. Established in the early 2010s, MEX Exchange has grown rapidly to become a prominent name in the online trading space, offering a range of financial products to retail and institutional traders worldwide. The broker focuses on providing access to forex, commodities, cryptocurrencies, and indices trading through cutting-edge technology and superior liquidity providers.
Mission and Vision
MEX Exchange's mission is to deliver a transparent, reliable, and dynamic trading environment that empowers its clients to make informed decisions. The vision of MEX Exchange is to offer world-class trading services with the goal of becoming a leading global broker for both beginner and advanced traders alike. By utilizing state-of-the-art technology and providing excellent customer service, MEX Exchange aims to create a seamless and efficient trading experience.
Global Presence
With clients across the globe, MEX Exchange has established a significant international presence, serving traders from various regions. It offers multilingual customer support and localized services to meet the diverse needs of global traders. The broker has a reputation for its commitment to providing access to the world’s most active financial markets, ensuring that traders from different time zones have 24/7 access to their trading accounts.
Advantages and Disadvantages
Pros
- Great Forex education and trading capabilities
- Mainstay on MT4
- Fast account opening
- No commission deposits and withdrawal options
Cons
- No 24/7 support
Security and Regulations
Licenses Held
MEX Exchange is regulated by several global financial authorities, ensuring that it adheres to industry standards for safety and transparency. The broker operates under strict regulations that protect client funds and ensure fair trading conditions. These licenses reflect MEX Exchange's commitment to maintaining the highest standards of operation and safeguarding its clients’ investments.
Fund Segregation and Insurance
To ensure the security of clients' funds, MEX Exchange holds customer deposits in segregated accounts. This ensures that funds are protected and not used for the broker’s operational activities. Additionally, MEX Exchange provides insurance coverage to further safeguard against any potential risks.
Tradable Instruments
Forex Pairs
MEX Exchange offers a comprehensive range of forex pairs, including major, minor, and exotic pairs. Traders have access to competitive spreads on popular currency pairs such as EUR/USD, GBP/USD, and USD/JPY, among others.
Commodities
With MEX Exchange, traders can invest in commodities like gold, silver, oil, and natural gas. These assets provide opportunities for diversification and allow traders to capitalize on global economic conditions and market movements.
Indices
The broker also provides access to popular global indices like the S&P 500, FTSE 100, and NASDAQ 100. These instruments offer traders the chance to trade on the performance of major global economies and stock markets.
Cryptocurrencies
For traders interested in digital assets, MEX Exchange offers a range of cryptocurrency trading pairs, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). These digital currencies can be traded with high volatility, allowing traders to profit from price swings.
Account Types
Fees and Charges
Spreads and Commissions
MEX Exchange offers competitive spreads starting from as low as 0.0 pips on certain currency pairs, especially with the Raw Spread Account. A small commission is charged on each trade placed on this account type, but overall costs remain low for traders.
Swap Rates
Swap rates apply to overnight positions, and they vary based on market conditions. Traders can review swap rates directly on the platform before placing trades, ensuring they are aware of any costs associated with holding positions overnight.
Inactivity Fees
MEX Exchange imposes an inactivity fee on accounts that remain inactive for an extended period. This fee is generally charged after a period of 12 months without any trading activity.
Trading Platforms
| Available tools | Forex, Commodities, Stocks, Indices, Metals, Energy, Cryptocurrency, CFDs |
|---|---|
| Cryptocurrencies | ADA, DOGE, DOT, EOS, LNK, XLM, BTC, BCH, ETH, LTC, RPL |
| CFD | Forex: 50 Metals: 3 Indices: 15 Commodities: 6 Stocks: 14000 Cryptocurrency: 11 |
MetaTrader 4 and 5
MEX Exchange offers MetaTrader 4 and MetaTrader 5, which are two of the most widely used and powerful trading platforms globally. Both platforms are equipped with advanced charting tools, technical indicators, and automated trading features, making them suitable for both novice and experienced traders.
WebTrader
For those who prefer a more flexible option, MEX Exchange provides WebTrader, a browser-based platform that allows you to trade directly from any device with an internet connection. No downloads are required, making it easy to trade on the go.
Mobile Trading Apps
MEX Exchange also provides mobile trading apps for both iOS and Android, allowing traders to manage their trades anytime, anywhere. The mobile app includes all the necessary features for trading, such as real-time quotes, charting tools, and order execution.
Customer Support
Steps to Register
To begin trading with MEX Exchange, simply visit their website and complete the registration process. This involves filling out your personal details and submitting the necessary identification documents to verify your account.
Verification Requirements
As part of the KYC (Know Your Customer) process, MEX Exchange requires traders to provide valid proof of identity and address. This ensures that the broker complies with anti-money laundering regulations and protects the safety of clients’ funds.
Deposits and Withdrawals
Payment Methods
MEX Exchange supports a wide range of payment methods for deposits and withdrawals, including credit/debit cards, bank transfers, and popular e-wallets like Skrill and Neteller. Choose the payment method that suits your preferences and region.
Processing Times
Deposits are generally processed instantly for e-wallets and credit cards, while bank transfers may take 2-3 business days. Withdrawals are processed within 24-48 hours, depending on the payment method chosen.
Associated Fees
MEX Exchange does not charge any deposit fees, though some withdrawal methods may incur fees, especially for bank transfers. It’s recommended to check the broker’s fees page for the most accurate and up-to-date information on withdrawal fees.
FAQ
Is the broker regulated?
Yes, MEX Exchange is regulated by multiple financial authorities, ensuring compliance with industry standards for security and transparency.
What trading platforms are available?
MEX Exchange offers MetaTrader 4, MetaTrader 5, WebTrader, and mobile trading apps for iOS and Android.
What is the minimum deposit required to open an account?
The minimum deposit required to open an account with MEX Exchange is $100.
What types of accounts does the broker offer?
MEX Exchange offers Standard, Raw Spread, and Islamic accounts to cater to different trading needs.
What fees and commissions are charged?
The broker charges competitive spreads, and Raw Spread Accounts incur a small commission per trade. Swap rates are also applied for overnight positions.
What is the maximum leverage available?
MEX Exchange offers leverage up to 1:500, providing traders with the flexibility to manage their positions effectively.