9 Best Forex Brokers in Mexico for 2024

Founded in 2009, Vantage offers trading in currency pairs, indices, commodities, stocks, and cryptocurrencies. The broker is regulated by ASIC and CIMA.

Regional Features:

• Mexico-based clients can open accounts with Vantage International Group Limited, regulated by the Cayman Islands Monetary Authority (CIMA).
• Max leverage: up to 1:1000.
• Website available in Spanish.
• Customer support available in Spanish.
• Available platforms: MT4, MT5, Vantage ProTrader, Vantage App.
• MXN among forex pairs.

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:

• Mexico-based clients can open an account with Exness (SC) Ltd, which is regulated by FSA Seychelles.
• Max leverage: Unlimited.
• Website available in Spanish.
• Customer support available in Spanish.
• Available platforms: Exness Terminal, MT4, MT5.
• MXN among forex pairs.

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:

• Mexico-based clients can open accounts with Octa Markets ltd., regulated by Mwali International Services Authority (MISA)
• Max leverage: up to 1:500.
• Website available in Spanish.
• Customer support available in Spanish.
• Available platforms: MT4, MT5, OctaTrader web and mobile
• MXN is accepted for both deposit transactions.

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.

IG is a global leader that provides the type of professional-grade service that all experienced traders require. The London-based derivatives broker was established in the distant 1974, and it offers its clients access to over 17,000 markets, competitive trading fees, a choice of trading platforms and tools, and much more. IG is also a member of the FTSE200, attesting to its stability and trustworthiness.

Regional Features:

• Mexican traders can open an account with IG International Limited, which is regulated by BMA (Bermuda)
• Maximum Leverage: 1:200
• Website and customer support in Spanish.
• Available platforms: IG Web Trader, MetaTrader 4, TradingView, L2Dealer, ProRealTime
• MXN among forex pairs
• Weekend trading – gold, forex, indices, and cryptos

IG is one of the few brokers that provides FIX API solutions for Direct Market Access (DMA), allowing professional traders to obtain raw spreads directly from exchange order books. IG also offers weekend trading, advanced instruments like options, futures, and treasuries, along with fast order execution and very favorable trading fees.
Professionals will appreciate the sophistication of IG’s platform, which offers over 60 analytical tools and chart configurations. It also features a built-in news screener powered by Thomson Reuters to keep users updated on the latest market developments. Additionally, IG’s trading station integrates advanced market analysis from Autochartist.

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:

• Mexico-based clients can open accounts with Ava Trade Markets Ltd., regulated by FSC BVI.
• Max leverage: up to 1:400.
• Website available in Spanish.
• Customer support available in Spanish language.
• Available platforms: MT4, MT5, AvaTrade Web platform, AvaTradeGO.
• MXN among trading pairs.
• 20% first deposit bonus.

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.

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:

• Mexico-based clients can open accounts with RoboForex Ltd, which is regulated by FSC Belize.
• Max leverage: up to 1:2000.
• Spanish version of the website.
• Customer support available in Spanish language.
• Available platforms: MetaTrader 4, MetaTrader 5, R Stocks Trader.

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:

• Mexico-based clients can open accounts with Exinity Limited, regulated by FSC Mauritius.
• Leverage: Up to 1:2000.
• Spanish version of the website.
• Customer support in Spanish.

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:

• Mexico-based clients can open accounts with AxiTrader Limited, based in St Vincent and the Grenadines.
• Leverage: Up to 1:500.
• Spanish version of the website.
• Customer support in Spanish.

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:

• Mexico-based clients can open accounts with FP Markets LLC, registered in St. Vincent & the Grenadines. The entity is unregulated.
• Max leverage: up to 1:500.
• Website available in Spanish.
• Customer support available in Spanish.
• Available platforms: MT4, MT5, cTrader.
• MXN among forex pairs.
• MXN is accepted for both deposit and withdrawal transactions.

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.