| Updated: November 19, 2024- Jump to:
- Main features of the best Mexico Forex brokers
- Forex Brokers in Mexico Compared by Spread
- Account Types and Commissions
- Forex Legislation
- Financial Regulators
- Payment Methods
- Trading Software
- Mobile Trading
- FAQ
Our team of expert traders tested many regulated and trustworthy forex brokers that accept traders from Mexico and compiled a toplist with the best among them. Each broker operating in Mexico received a quality score based on several factors, including Trustpilot rating, regulation, fees and commissions, available trading platforms, customer service and more.
Fusion Markets74-89% of retail CFD accounts lose money- FP Markets73.85% of retail investor accounts lose money
- Pepperstone75.5% of retail investor accounts lose money
- Global Prime74-89% of retail CFD accounts lose money
- eToro51% of retail investor accounts lose money
- XM Group72.82% of retail investor accounts lose money
Below you can find a comprehensive comparison table of forex brokers for traders in Mexico. We rank them based on several factors including: regulation, spreads and commissions, Trustpilot rating, trading instruments, trading platforms, deposit and withdrawal methods.
Main features of the best Mexico Forex brokers
- Min Deposit$0Trading InstrumentsForex, Commodities, Indices, Crypto, US StocksRegulatorsASIC, FSA (Seychelles), VFSC (Vanuatu)Trading PlatformsMetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade, TradingViewSpread0.9 pips Classic; 0.0 pips ZeroLeverage1:30 (1:500 for forex and metals via VFSC)Deposit MethodsVisa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VNPay, DuitNow, XPay, DragonPay, VAPay, FasaPay, AstroPay, PayID, Jetonbank, Sticpay, Interac, LuqaPay, Zotapay, MiFinityWithdrawal MethodsVisa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay74-89% of retail CFD accounts lose money
Regulated in Vanuatu and Australia, Fusion Markets caters to forex traders from multiple jurisdictions, including those residing in Mexico. The broker supports a range of trading platforms, such as MT4, MT5, cTrader, and TradingView. A convenient ‘Spreads Tool’ is available to find the average, minimum, and maximum spreads for all tradable forex pairs. Minimum spreads for EUR/USD start from 0.00 and average spreads – from 0.03 plus a commission of $2.25 per side for Zero Accounts. A mark-up spread of 0.9 will be added to the Zero spread for the major pair if one opts for the Standard account type. Traders will find pairs including the Mexican Peso such as EUR/MXN, GBP/MXN, MXN/JPY, and USD/MXN.
- Min Deposit$0Trading InstrumentsForex, Cryptocurrencies, Indices, Commodities, BondsRegulatorsASIC (No. 385620), VFSC (No. 40256)Trading PlatformsMT4 Desktop, MT4 Webtrader, MT4 AndroidSpread0.9 pips Standard, 0.0 pips RawLeverage1:500 (1:30 for ASIC entity)Deposit MethodsVisa, Mastercard, PayPal, Skrill, Neteller, Gate8, Dragonpay, Fasapay, VNPay, Pagsmile, BPay, POLi, AstroPay, Bank Transfer, Interac, Perfect Money, PayID, Jeton, MiFinity, XPay, CryptoWithdrawal Methods
Mastercard, Visa, Local Bank Transfer, Bank Wire Transfer, Skrill, Neteller, AstroPay, PayPal, Dragonpay, Perfect Money, Jeton, Interac, Cryptocurrencies
74-89% of retail CFD accounts lose moneyGlobal Prime is a globally-operating broker, offering trading services to customers from Mexico. The company provides access to 150+ financial markets, including popular currency markets, such as EUR/USD, GBP/USD, and AUD/USD. Depending on their preferences, they can pick from two account types – Standard and Raw. The Raw account spreads start from 0.0 pips on the major currency pair EUR/USD, while the average ones stand at 0.6 pips. A $3.50 commission is in place per lot traded per side. While there is no commission charged on Standard accounts, a 0.9 mark-up will be added to the typical Raw spread value.
- Min Deposit$200Trading InstrumentsCFDs on Forex, Commodities, Index, Bond, Cryptocurrencies, Stock, FuturesRegulatorsFSA (Seychelles), CySEC, ASICTrading PlatformsMetaTrader4, MetaTrader5, cTrader, ZuluTradeSpread0.8 pips Standard, 0.0 pips Raw AccountsLeverage1:30Deposit MethodsBank transfer, Visa, Mastercard, PayPal, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, CardPay, Bpay, FasaPay, Poli, RapidPay, Klarna, NuveiWithdrawal MethodsBank transfer, Visa, Mastercard, PayPal, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, FasaPay, Poli, RapidPay, Klarna70.64% of retail investor accounts lose money
With 200,000 active clients worldwide, $29 Billion in FX trades processed daily, and powerful trading terminals such as MT4, MT5, cTrader, and TradingView, IC Markets ranks high among the top choices for traders residing in Mexico. 61 Forex CFDs will be at your fingertips, with competitive spreads, reduced slippage, and an average execution speed of under 40 ms. Standard and Raw accounts are available, empowering traders to adjust their trading costs. Average spreads of 0.6 apply for the EUR/USD pair for Raw accounts plus a commission of $3.50 (MetaTrader) or $3 (cTrader) charged per lot traded per side. Standard account holders pay no commission, at the expense of an increased spread of 0.86 pips.
- Min Deposit$5Trading InstrumentsForex, Stocks, Indices, Commodities, Thematic IndicesRegulators(ASIC) (ref. No. 443670), FSC (license no. 000261/397), DFSA (ref. no. F003484), CySEC (license no. 120/10), CFTC; Registrations for EU passporting: - BaFin, CNMV, MNB, CONSOB, ACPR, FIN-FSA (Finland), KNF, AFM, FSA (Sweden)Trading PlatformsMetaTrader 4 and 5, MetaTrader 4 and 5 on mobile, MT4 WebTrader, MT5 WebTrader, MT4 MultiterminalSpreadFrom 0.0 pips (Zero Account), 0.6 pips (Standard and Micro Accounts)Leverage1:30Deposit MethodsVisa, Mastercard. Skrill, Bank Transfer, Neteller, Apple Pay, Google Pay, UnionPay, MaestroWithdrawal MethodsVisa, Mastercard, China Union Pay, Skrill, Neteller, Bank Transfer72.82% of retail investor accounts lose money
Forex enthusiasts from Mexico can open accounts with XM, a multi-awarded broker, facilitating access to 1,400 global assets, including 50+ major, minor, and exotic Forex pairs. The website is supported in more than 20 languages, including Spanish. Based on your trading preferences, you can go for an Ultra Low or Zero account, both featuring a minimum deposit requirement of just $5, negative balance protection, hedging, and an Islamic option. The average spreads for the popular EUR/USD pair stand at 1.2 pips, with a maximum allowable leverage of 1:30.
- Min Deposit$0Trading InstrumentsForex, Indices, Commodities, Cryptocurrencies, Share CFDs, ETFsRegulatorsUK FCA (No.684312), CySEC (No. 388/20), ASIC (No. 414530), BaFin (No.151148), DFSA, CMA, SCB (Bahamas)Trading PlatformsTradingView, MT5, MT4, cTraderSpreadFrom 0.0 pips (Razor Accounts), 1 pip (Standard Accounts)Leverage1:30Deposit MethodsVisa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, SkrillWithdrawal MethodsVisa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, Skrill75.5% of retail investor accounts lose money
Mexican retail traders can seize the opportunities that Forex trading presents by creating an account with Pepperstone. The broker offers access to 90+ forex majors, minors, crosses, and exotics, with consistently competitive spreads and leverage capped at 1:30. Average spreads for Razor accounts stand at 0.1 pips for the EUR/USD pair and 1.1 pips for Standard accounts. Customers will find many exotic pairs as well, including EUR/MXN, CAD/MXN, GBP/MXN, and MXN/JPY. Beyond Forex, they will benefit from razor-sharp spreads on more than 1,200 financial instruments. In terms of supported trading platforms, customers can unlock access to MT4. MT5, cTrader, TradingView, and Pepperstone’s proprietary platform.
- Min Deposit$50Trading InstrumentsForex, Indices, Commodities, Shares CFD, ETFs, BondsRegulatorsFCA (license no. FRN: 590299), VFSC (reg. No. 700271), ASIC (license no. no. 428901), FSCA (license no. 51268), CIMA (no. 1383491)Trading PlatformsMetaTrader 4, MetaTrader 5, ProTrader, TradingView, Copy TradingSpread1.1 pips on Standard Account; 0.0 pips on Raw, Cent, and Pro AccountsLeverage1:30Deposit MethodsVisa, Mastercard, Union Pay, Boleto, Bank Wire, Skrill, Neteller, Crypto, POLi, FasaPay, Perfect Money, BPay, Pagsmile, AstroPay, JCBWithdrawal MethodsVisa, Mastercard, Union Pay, Bank Wire, Skrill, Neteller, Crypto, AstroPay, Perfect Money, JCB
Vantage is an award-winning online CFD platform, home to a global community of traders, including ones from Mexico. The broker offers access to 40+ major, minor, and exotic currency pairs and 1,000+ other trading instruments. By choosing from a wide spectrum of currency pairs, traders can diversify their portfolios and benefit from various market opportunities. The EUR/USD spreads start from 0.20 pips and commissions of $6 per lot. The Forex trading platforms to pick from include MT4, MT5, TradingView, and Vantage App. Forex traders can opt for one of three account types – Standard STP, Raw ECN, and Pro ECN accounts.
- Min DepositVaries based on methodTrading InstrumentsForex, CFD's on Stock, CFD's on IndicesRegulatorsCySEC, FCA, FSC (Mauritius), FSA (Seychelles), CBCS (Curacao), FSC (BVI)Trading PlatformsMT4, MT5, Exness Terminal (Proprietary)SpreadFrom 0.2 pips (Standard), 0.0 pips (Zero, Raw)Leverage1:2000Deposit MethodsBank Wire, Visa, MasterCardWithdrawal MethodsBank Wire, Visa, MasterCard
Exness is among the world’s largest retail brokers, with multiple regulatory licenses and active traders count at more than 800,000. Traders can properly adjust their trading costs based on their preferences for account type – Standard, Standard Cent, Pro, Zero, or Raw Spread. Average spreads for the EUR/USD pair for Standard account holders start from 0.9 pips and $0 commissions per lot per side. Regarding supported platforms, the options at Exness include MT4, MT5, Exness Web Terminal, and Exness Trade app.
- Min Deposit$50Trading InstrumentsCFDs on Indices, Forex, Shares, Crypto, Futures, Commodities, Options, Interest Rates, Sectors, Bonds, Knock-out tradingRegulatorsASIC, FCA, DFSA, CFTC, FMA, FINMA, BaFin, MAS, JFSA, FSCA, BMA (Bermuda)Trading PlatformsMT4, L2 Dealer, ProRealTime, IG proprietary software, TradingViewSpread0.6 pips CFD trading; 0.165 pips DMA tradingLeverage1:30Deposit MethodsVisa, Mastercard, Bank Transfer, Wire Transfer, Visa Electron, Discover, PayPal, Apple Pay, BPAYWithdrawal MethodsVisa, Visa Electron, Mastercard, Discover, Bank Transfer70% of retail client accounts lose money
Mexican traders can benefit from both rising and falling prices of currency CFDs with a world-renowned broker like IG. The broker provides several ways to trade, including Turbo24, spread bets (UK only), CFDs, barriers, and vanilla options. IG works hard to keep spreads for Forex and other financial instruments among the lowest in the industry, with minimum spreads for the EUR/USD pair at 0.6 pips and average spreads at 1.04 pips. Customers of IG benefit from built-in access to several third-party platforms such as MT4 and ProRealTime.
- Min Deposit$0Trading InstrumentsForex, Stocks, IPOs, Indices, Commodities, CryptocurrenciesRegulatorsASIC, FCA, CySEC, DFSA, FSA (Saint Vincent and the Grenadines)Trading PlatformsMT4 Desktop, MT4 WebTrader, Axi MobileSpreadFrom 0.0 pips (Elite and Pro Accounts), 0.9 pips (Standard Account)Leverage1:30Deposit MethodsVisa, Mastercard, Bank Transfer, Neteller, Skrill, AstroPay, Fasapay, Przelewy24, Boleto, Pix, Bitcoin, Ethereum, Ripple, Litecoin, Tether, Stellar, POLi, iDEAL, Sofort, GiropayWithdrawal MethodsMastercard, Visa, Bank Transfer, Przelewy24, Fasapay, Skrill, AstroPay, Pix, Boleto, Neteller, Bitcoin, Ripple, Ethereum, Litecoin, Tether, StellarThe vast majority of retail client accounts lose money
Axi is a trusted choice for thousands of brokers across 100+ jurisdictions, including Mexico. The broker’s product range includes 220+ financial instruments, including 70+ major, minor, and exotic currency pairs. Standard account spreads for the popular EUR/USD pair are 1.2 pips and Pro account spreads – 0.2 pips plus $7 commission per lot. The USD/MXN pair, which can be found under the Exotics tab, is also available for trading.
- Min Deposit$50 (AU$100)Trading InstrumentsForex CFDs, Shares CFDs, Metals CFDs, Commodities CFDs, Indices CFDs, Crypto CFDs, ETF CFDsRegulatorsASIC, CySEC, FSA (Seychelles), FSCA, FSA (St. Vincent and the Grenadines)Trading PlatformsMetaTrader4, MetaTrader5, WebTrader, IRESS, cTrader, TradingViewSpread1.0 pips Standard; 0.0 pips RawLeverage1:30Deposit MethodsVisa, Mastercard, Neteller, Bank Transfer, Skill, Sticpay, Fasapay, Virtual Pay, Perfect Money, Pagsmile, Dragonpay, Crypto, Apple Pay, Google Pay, Online Banking, Broker to Broker, PayPal, XPay, RapydWithdrawal MethodsVisa, Mastercard, Bank Wire, Neteller, Skrill, Paytrust88, PayPal73.85% of retail investor accounts lose money
FP Markets, a trusted global broker offers Mexican traders the opportunity to benefit from price fluctuations of 70+ currency pairs and 10,000+ stocks through a range of cutting-edge platforms and advanced tools. Trade with popular platforms such as MT4 and MT5 as well as TradingView integration that was recently added. The Raw account option offers average spreads of 0.1 pips combined with a small commission of $3 per side. Commissions are waived for Standard account holders at the expense of slightly higher average spreads of 1.15 pips.
Forex Brokers in Mexico Compared by Spread
| Broker | EUR/USD | USD/JPY | GBP/USD | USD/CHF | AUD/USD | EUR/GBP | USD/CAD |
|---|---|---|---|---|---|---|---|
| 1. Fusion Markets | 0.07 | 0.13 | 1.01 | 0.37 | 0.90 | 0.23 | 0.14 |
| 2. Global Prime | 0.13 | 0.28 | 1.11 | 0.34 | 0.07 | 0.28 | 0.26 |
| 3. Vantage FX | 0.2 | 0.5 | 0.4 | 0.6 | 0.5 | 0.3 | 0.3 |
| 4. Exness | 0.6 | 0.7 | 0.7 | 0.9 | 0.6 | 1.0 | 1.1 |
| 5. IC Markets | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 |
| 0.8 |
| 6. XM Group | 0.8 | 0.9 | 0.9 | 2.1 | 0.75 | 1.5 | 2.4 |
| 7. IG | 0.85 | 0.9 | 1.40 | 1.95 | 1.01 | 0.9 | 2.1 |
| 8. Pepperstone | 1.00 (min) | 1.0 | 1.00 (min) | 1.1 | 1.2 | 1.2 | 1.42 |
| 9. FP Markets | 1.1 | 0.30 | 1.2 | 1.8 | 1.2 | 0.20 | 1.5 |
| 10. Axi | 1.2 | 1.4 | 1.2 | 1.5 | 1.3 | 1.1 | 1.4 |
Account Types and Commissions
| Broker | Min Deposit | Account Types | Commission per Lot | Trustpilot Rating |
|---|---|---|---|---|
| 1. Fusion Markets | $0 | Zero, Classic, Islamic, Demo, Professional | $0 Classic Account, $4.50 round turn on Zero Account | 4.9 |
| 2. FP Markets | $50 (AU$100) | Standard, Raw, Demo, Professional, Islamic | $0 Standard Account; $6 round turn on Pro Account | 4.8 |
| 3. Pepperstone | $0 | Standard Account, Razor Account | $0 (Standard Account), $7 round-turn (Razor Account) | 4.7 |
| 4. IC Markets | $200 | Raw Spread cTrader, Raw Spread MT, Standard MT | $0 Standard MT; $6 round turn on Raw cTrader; $7 round turn on Raw MT | 4.6 |
| 5. Exness | Varies based on method | Standard, Standard Cent, Pro, Raw Spread, Zero | $7 round-turn (Raw), $0.10 (Zero) | 4.6 |
| 6. Global Prime | $0 | Standard, Raw, Demo, Professional, Islamic | $0 Standard Accounts; $7 round turn on Raw Accounts | 4.4 |
| 7. Axi | $0 | Standard, Elite, Professional, Demo, Islamic | $0 on Standard Account; $7 round trip on Pro Account | 4.3 |
| 8. IG | $50 | Spread Betting Account, CFD Trading Account, Limited Risk Account, Islamic, Professional, Demo, Options and Share Dealing Accounts* | $0 | 3.7 |
| 9. Vantage FX | $50 | Standard, Cent, Pro, Raw | $3 per side on Raw; $1.50 per side on Pro | 3.5 |
| 10. XM Group | $5 | Ultra Low Micro, Ultra Low Standard, XM Zero | $0 Ultra Low Micro and Ultra Low Standard Accounts; $3.50 per side XM Zero Account | 2.9 |
With an estimated population of nearly 130 million, Mexico is the most populous Spanish-speaking country in the world. Its economy, although still considered a developing one, is among the largest and strongest Latin American economies right now. It has a stable financial sector, as well as rapidly developing financial markets while the national currency, the Mexican peso (MXN) ranks eighth in the world for global liquidity behind major currencies such as the USD, EUR, JPY, and GBP.
Mexican investors can easily access the foreign exchange market as trading Forex pairs is completely legal in the country. However, most local brokers focus on giving their clients access to the equities markets rather than offering Forex trading. As an alternative, Mexican traders can register with foreign FX and CFD brokerage firms, which can operate freely in the country without a license or other type of authorization from local regulators. Still, several authorities are responsible for the Forex market oversight in Mexico, including the Central Bank.
Overall, Mexico does not have the largest or most advanced foreign exchange market in the Americas, but Forex trading is quickly growing in popularity among local investors. In addition, the Mexican Stock Exchange, commonly known as Mexican Bolsa (BMV), is the second-largest Latin American stock exchange after the São Paulo-based B3.
Mexican Forex Legislation
Before looking at the legislation that controls and regulates the foreign exchange trade in Mexico, we should know that trading Forex is linked with relatively few restrictions. In contrast, the country has tough regulations when it comes to the securities markets and the stock exchanges, in particular. There are only two stock exchanges in Mexico, namely the Mexican Stock Exchange (BMV) and the Institutional Stock Exchange (BIVA).
The main legal framework is the Securities Market Law (Ley del Mercado de Valores), although it does not include detailed language regarding the regulation of the Forex trading in the country. The law was passed in December 2005 by the House of Representatives of Mexico and by the Senate and it came into effect soon after that upon publication in the Official Gazette of the Federation. It updated the legal framework applicable to all market participants, including stock exchanges, clearing agencies, securities depository institutions, and broker-dealer firms.
The Securities Market Law also defines the main requirements for a primary listing on the main markets/exchanges – for instance, two types of companies may be listed on the stock exchange, i.e. incorporated as a limited liability corporation (Sociedad Anónima Bursátil, SAB) or Incorporated as a more flexible limited liability corporation created to support new business and ventures (Sociedad Anónima Promotora de Inversión Bursátil, SAPIB). In addition, the law provides definitions of institutional and qualified investors.
According to the current legislation, only authorized broker-dealers established in Mexico can offer registered securities in the country. There is no such restriction when it comes to Forex trading, however. Most brokers in the country do offer access to the foreign exchange market but often, their offering is limited to just a few major currency pairs. Foreign online brokers, on the other hand, usually offer between 40 and 80 currency pairs.
Moreover, offshore brokers are not required to obtain a local license in order to accept clients from Mexico. Still, local investors are advised to always work with only licensed brokers that comply with international Forex market regulations. Usually, these are brokers registered and licensed by major regulators, including the Financial Conduct Authority in the UK or the Cypriot CySEK (Cyprus Securities and Exchange Commission).
In addition, Mexico is a participant of the Global Foreign Exchange Committee (GFEC), an international organization established in 2017 with the purpose of promoting a fair, liquid, and transparent Forex market. It includes multiple central banks, as well as private sector Forex market participants who comply with the FX Global Code, a code of conduct that lays out the good practices in the sector.
The Mexican Foreign Exchange Committee (MFXC) was founded in Mexico to promote the adoption of the Global Code and it keeps a registry of all banks and companies that commit to following the code. The public registry can be found on the website of the Central Bank of Mexico (Banco de México, abbreviated BdeM or Banxico). It includes dozens of banks, brokers and investment advisors, asset managers, insurance companies, pension funds, and e-trading platforms that are registered and licensed in Mexico.
Mexican Financial Regulators
The Central Bank of Mexico (Banxico) oversees all Forex-related activities in the country. The bank is responsible for implementing all monetary policies of the country and maintaining stability in the purchasing power of the national currency, the Mexican peso. Its main objective is to keep low and stable inflation and it manages to achieve that since the peso is currently the strongest and most stable currency in Latin America.
Another authority that supervises the finance sector in the country is the National Banking and Securities Commission or Comisión Nacional Bancaria y de Valores (CNBV). It regulates various financial institutions such as banks, financial companies, brokerages, and advisors, as well as mutual fund companies. The main function of the CNBV is monitoring but it also strengthens the preventive measures for combating organized crime and fraud. The commission also investigates any breaches of the current regulations.
Mexican Forex Payment Methods
The vast majority of online Forex brokers available to Mexican investors are fully regulated in other jurisdictions, usually in Europe, Australia, or the UK. This is why Forex traders would probably want to find a broker that accepts deposits in Mexican peso (MXN). Some of the world’s leading brokers even allow their clients to register the MXN as a base account currency. This is extremely important for those investors who want to avoid additional currency conversion fees.
Another thing to consider is the payment options offered by different online Forex brokers. In some cases, the broker would simply not be suitable for investors based in Mexico. It is important to know that although the country is home to the second-largest e-commerce and digital payments market in Latin America, most Internet users still prefer cash and cash-on-delivery options, including Oxxo. They are, however, not available for Forex trading online.
The digital payments market is clearly dominated by credit and debit cards – usually, these are Visa and Mastercard-branded cards but American Express is also found in Mexico. However, local debit cards are much more popular than credit cards – practically everyone in the country has at least one debit card by either HSBC, Banamex, Banorte, BBVA Bancomer, or Santander. Investors should know, however, that most local debit cards do not support payments in foreign currencies.
Another interesting fact is that roughly a fourth of all Mexicans have an online bank account and online banking is still not very popular. Wire transfers, on the other hand, are often offered by Forex brokers but they usually take longer to process and are associated with high fees. A great alternative to this traditional payment method is using a digital wallet. E-wallets, as they are also known, are incredibly secure and convenient, fast and cost-effective, which make them a preferred option for many people around the world.
Mexico is not an exception and here, an increasing number of online shoppers and Forex traders are opening accounts with PayPal. Other e-wallets such as Neteller and Skrill are also available although they are less popular. The Latin American digital wallet MercadoPago can also be found on the websites of certain Forex brokers. Originating in Argentina, this service is rapidly growing in Central and South America and can be used from mobile devices, as well.
Popular Trading Software in Mexico
To trade in the foreign exchange market, investors need to use the professional services of a Forex broker but also of suitable trading software. The good software platform should come with all the features a trader would want, based on his or her level of experience and understanding of the Forex market. This would include good charting capabilities, a great number of technical indicators, fast performance, position management, a non-stop financial news feed, etc.
Of course, traders interested in Forex should look for platforms that give them access to a huge number of major and minor currency pairs. For instance, software systems designed for stock trading usually offer only a handful of Forex pairs. There are, on the other hand, platforms that were specifically made to cater to Forex traders – there, you can usually trade up to 90 pairs, including the most exotic ones. Last, but not least, Mexican traders should look for a platform that is available in Spanish.
Many of the leading Forex brokers online offer their clients proprietary software. This may be a great idea since most systems of this type come with tons of useful options and functionalities. The majority of traders, however, prefer more standard options, namely the platform called MetaTrader 4 or MT4. Released 15 years ago by Russian developer MetaQuotes Software, MT4 has become the most widely used Forex trading system in the world – over 90% of all Forex traders have MT4 accounts. The platform has three trade execution modes, including Instant Execution, 30 built-in indicators, trading robots, advanced trading operations, and copy trading.
MetaTrader 5 is another powerful platform by the same company but it was designed for trading stocks, futures, and other instruments, along with Forex pairs. It features advanced tools for technical and fundamental analysis, superior trading functions, 80 built-in technical indicators and analytical objects, and many more. Other popular types of trading software for Forex include cTrader and NinjaTrader.
Mobile Trading in Mexico
Mobile phones are not what they used to be just a decade or so ago – compared to 20 years ago, they are even more different. Rather than using them for talking with friends and family, we now use them for connecting with others, shopping, doing business or for entertainment. The rapid development in technologies has allowed us to play mobile games, stream live content and access sophisticated software on our devices.
The modern mobile technologies have been quickly revolutionizing the Forex market in the past few years, as well, and Mexico follows this global trend. More and more people access their trading accounts, deposit and withdraw funds, and open and close positions directly from their mobile devices. With Forex, a highly liquid and volatile market, the convenience and flexibility of mobile trading apps have become essential to investors. With a good, reliable trading app, they have 24/7 access to their trades, to high-quality financial news feeds and customized notifications and trading signals.
Most Forex brokers available in Mexico offer fully functional mobile trading applications for Android and iOS. To get them, investors simply need to download and install them on their devices, sign up, and start trading. Practically all trading apps can be found for free at Apple’s App Store or on Google Play. To be used for actual, live trading, however, they must be linked with live accounts – rather than a demo account, traders need to make a deposit and trade with their actual funds.