MEX Exchange Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
MEX Australia Pty Ltd is a company that is licensed and controlled by the
Australian Securities and Investments Commission. MEX Australia Pty Ltd is the
owner of the website mexexchange.com (ASIC). In 2012, the firm was established
in Sydney, Australia, and it presently caters to retail customers, introducing
brokers, and institutions by providing an innovative trading platform and
reasonable trading conditions. MEX Exchange asserts that it is able to deliver
one of the most competitive spreads in the market through cultivating
connections with the industry's most prominent liquidity providers. Through the
widely used terminal known as MetaTrader 4, the firm provides clients with
access to a comprehensive range of trading products, which may include currency
pairings, commodities, and stocks (MT4). BNP Paribas, Citi, Commerzbank,
Deutsche Bank, JPMorgan, and a number of other financial institutions are
counted among the company's liquidity suppliers.
Visit MEX Exchange Website.
MEX Exchange is the trading name of MEX (Australia) Pty Ltd, which is authorized and regulated by the Australian Securities and Investments Commission (ASIC) under license number 416279. This license allows MEX Exchange to offer Margin FX and CFD products for online trading. MEX Exchange is able to do this because MEX Exchange has been granted permission to do so by ASIC. Regarding the management of the customers' monetary assets, the firm maintains stringent standards and regulations. In addition to this, it has stringent Anti-Money Laundering (AML) and Counter-Terrorism Funding (CTF) safeguards in place.
When they sign up for an account with the MEX Exchange, traders may choose between two primary types of accounts:
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Real Account - There are two different kinds of real accounts, and opening either one of them does not need you to make a minimum deposit.
Classic Account The Classic account is MEX Exchange's baseline MetaTrader 4 account. It offers clients low spreads and commission-free trading.
ECN Account - This account offers actual ECN connectivity by way of the MetaTrader 4 platform. This platform gets quotation information straight from the electronic communications network (ECN) connection that the organization has. As a direct consequence of this, the spread for the EUR/USD pair ranges from 0.0 pips all the way up to 0.2 pips as an average value. The raw spreads, on the other hand, come with a $7 commission price tag attached to them.
Demo Account: All customers who have live and paid accounts are eligible for a demo account that does not expire, in which they may practice their trading methods before putting them into action on the actual account.
According to what we discovered in the file containing the Product Disclosure Statement, MEX Exchange makes the following statement in a very clear and understandable manner: "We are a market maker, not a broker, and we generally make our money from the spreads that are embedded in the price of the instrument." It is also written that, according to the market maker model, each margin contract and CFD transaction results in the creation of a direct financial exposure for the provider. This exposure may or may not be hedged in the underlying instrument or with a counterparty utilizing OTC derivatives. It is also written that this exposure may or may not be hedged. It is the party on the other side of every deal. The people that make markets also profit from their customers' losses, therefore they want these kinds of things to occur so they may earn more money. Despite the fact that the corporation is effectively governed by the ASIC and that a situation of this nature is extremely unlikely to arise, a conflict of interest does exist.
Trading in Margin FX and CFD, as the same paper discloses, exposes you to the possibility of incurring losses that are far more than your initial investment. In such a scenario, you will be required to make an extra deposit of monies with MEX Exchange. This indicates that there is no protection against having a negative balance in your account, and if your account balance is in the red, you will owe money to the firm.
In addition, there is a caution that stop loss orders are not guaranteed and that the execution of such orders will be contingent on the volatility and liquidity of the market. The stop-loss order might be triggered by a temporary shift in the markets; alternatively, in a market that moves quickly, the price at which the deal is actually executed might be very different from the price at which the stop-order was placed.
Slippage is something that may happen with market orders, and its deviation can be adjusted by the parameters for the platform. If you do not want any slippage to occur during the execution of your orders, the deviation value that you choose must be less than 1 pip (or zero). If the price you want to pay is more than the one that is already being charged, then your order can be cancelled because of the price disparity.
Customers who trade CFDs on indices and commodities will be assessed a commission fee of USD10 per standard lot for those trades.
When customers use the services of third-party payment processors to make deposits or withdrawals in foreign currencies, the company has the right to charge them a fee of up to 8 percent of the money involved.
If an account has not been active (no new transactions have been conducted) for a period of three consecutive months, MEX Exchange will begin charging a fee of USD60 per calendar month beginning on the fourth month of the inactivity period.
Customers have access to a variety of deposit options, including bank transfers, credit and debit cards, e-wallets like Skrill and Neteller, and more. The MEX Exchange does not levy any fees on its users for making deposits or withdrawing funds. However, transfers to and from foreign financial institutions may be subject to intermediary transfer fees and/or conversion costs from either side. These fees are unrelated to MEX Exchange and are charged by the receiving institution.
Customers get access to one of the most popular trading terminals, which is called MetaTrader 4. (MT4). There is a mobile application, in addition to desktop versions (for both Windows and MAC operating systems) and web-based versions of the software. MEX Exchange has made significant investments in the ECN technology, which is utilized by the MT4 trading platform to facilitate trading in foreign exchange, metals, and CFDs. Because of this technology, the organization is able to function with a high degree of consistency and dependability. Multiple liquidity providers collaborate to determine prices, which makes it possible for orders to be filled in a fraction of a second. Trading with only one click and access to a large number of qualified advisors are both accessible.
MT4 can also be used as a Multi Account Manager (MAM) and a Percent Allocation Management Module (PAMM), which is a good solution for managing and trading multiple MT4 accounts at the same time. MAM and PAMM are abbreviations for "Multi Account Manager" and "Percent Allocation Management Module," respectively.
Over 35 different currency pairings, including prominent major, minor, and exotic ones, are accessible to trade on the Forex market. When we tested the EUR/USD pair using our trial account, the spread was greater than 2 pips, despite the fact that the firm asserts that it is less than 1 pip. There is a maximum leverage of 1:500 available.
You are able to trade the majority of the world's most well-known indexes, including the DJIA, US500, and ASX200, amongst others. Because they are daily contracts with a leverage of 100:1, and because they roll over daily, this indicates that the rollover will also occur daily.
All of the major precious metals that are traded commercially are accessible, including gold, silver, platinum, and copper, amongst others. The spread for gold typically hovers around USD0.50. The leverage might go as high as 1:250 in some cases.
Commodities - You may trade spot Brent Oil and WTI crude Oil. The leverage is one to one hundred.
According to the company, MEX Exchange makes use of the most recent Equinix data centers in NY4, New York, and LD4 in London, in addition to oneZero connectivity. This gives MEX Exchange the ability to select from the most prominent liquidity providers and develop individualized liquidity pools to cater to the specific requirements of its traders.
Trading Tools is the name of the website's area that is specifically devoted to instructional content. You can obtain explanations of the Forex market and the elements that impact exchange rates; however, you can only get these explanations by making a request for them. You can locate a daily market analysis and an economic calendar that is maintained by a third party. You'll also find video lessons for MetaTrader 4 in this area of the website.
Introducing Brokers can find all of the information they want on the Partnerships part of the website. White Label partnership is a service that is provided for institutions who want to sell forex and other trading products to their clientele. White Label partnership can be found here.
MEX Exchange, which is licensed by the Australian Securities and Investments Commission (ASIC), is a market maker that offers the most recent trading technology by way of the famous MT4 trading terminal. However, only a limited number of instruments are now accessible through internet trading. There is no need that you make a minimum deposit, and you may begin trading with any amount that you want. The following payment methods are accepted for deposits: bank transfer, credit card, Skrill, and Neteller. There are no internal costs associated with deposits or withdrawals; nevertheless, you may be subject to fees from other banks and suppliers.
MEX Exchange is an online financial trading platform that was founded in 2012
in Sydney, Australia. It provides cutting-edge trading platforms and the most
competitive pricing in the industry of online financial trading for a variety of
products, such as stocks, CFDs, foreign exchange, and precious metals (gold and
silver). The Australian Securities and Investment Commission is in charge of
overseeing MEX Exchange's operations (ASIC).
Standard Account — The MT4 standard account offers customers lightning-fast execution speeds and industry-leading spreads. This kind of account is suitable for merchants of any stripe.
ECN Account — Provides clients with True ECN Connectivity and industry-leading pricing and trading conditions using the MT4 platform.
MEX NexGen MT4, which adds 11 new capabilities to MT4, gives traders a more transparent view of the market, which improves their ability to make trading decisions. Every trader who registers for a MEX Live or Demo trading account is eligible to get a free copy of MEX NexGen MT4.
Trading in Foreign Exchange, Metals, and CFDs are all available through the MEX Exchange MT4 platform.
MetaTrader4 Mac – The MT4 platform that runs on Mac OS X is capable of running all of the same Expert Advisors and Indicators as the MT4 platform that runs on Windows.
Mobile Trading with MT4 - Trade from anywhere, at any time, using the MT4 APP, which includes all of MT4's features.
MAM & PAMM - MEX Account Manager (MAM) and the Percent Allocation Management Module (PAMM) constitute an appropriate solution for managing and trading several MT4 accounts concurrently. MAM stands for MEX Account Manager, while PAMM stands for Percent Allocation Management Module.
FIX Application Programming Interface (API) — FIX is the industry standard protocol for high-speed communications, direct connection, and trading in the financial markets. The MEX FIX API Service is a complete solution for clients searching for direct access to market-leading liquidity at cheap pricing and without relying on other applications or front ends. This service is designed for clients who trade in significant volumes and are institutional in nature.
Swap Fees: Swaps will only be charged to your trading account when positions are held open until the next day of forex trading. Every currency pair has its own swap charge, which is based on a standard size of 1.0 standard lot and is calculated individually (100,000 base units). Every trading night, the swaps are analyzed, computed, and implemented. On Wednesday nights, the going rate for swaps is three times what it normally is.
Forex pairs, precious metals (gold and silver), and contracts for difference are only few of the many financial products that are available to trade on the MEX Exchange.
Deposits made with a credit or debit card are often processed immediately. The following currencies are available: AUD, EUR, GBP, HKD, SGD, and USD.
Processing time for wire transfers and bank transfers is one business day after the monies have been received. The following currencies are available for use: AUD, CAD, EUR, GBP, HKD, NZD, SGD, and USD.
Neteller transactions are typically completed within one to four business hours. Available Currencies: USD, AUD, EUR.
Skrill transactions are typically processed within one to four business hours. Available Currencies: EUR, GBP, USD.
Processing times for China Union Pay range from one to four business hours. Available Currencies: RMB.
The MEX Exchange does not impose any fees, both external and internal, on deposits. It is important to remember, however, that transfers to and from overseas financial institutions may be subject to independent intermediary transfer fees and/or conversion costs from either party. The customer is going to be responsible for paying any fees of this kind.
The processing of withdrawals consists of filling out an online form. Only funds that are withdrawn to an account or credit card that shares the same name as your MEX trading account are eligible for withdrawal.
Withdrawals from MEX accounts are never assessed any kind of fee, not even a little one. It is important to remember, however, that transfers to and from overseas financial institutions may be subject to independent intermediary transfer fees and/or conversion costs from either party. The customer is going to be responsible for paying any fees of this kind.
Mex makes every effort to attend to transfer requests as quickly as is humanly feasible after receiving them. Withdrawals are typically handled within hours, however this time frame might occasionally extend up to three days.
A demo account that does not expire is a perk available to all active and paid customers. If you would like a demo account, all you need to do is establish and fund a Live Account, then send an email to firstname.lastname@example.org requesting your demo.
It is not accurate to say that Mex Exchange is the worst broker in the world. Their clients have access to a wide variety of engaging platform choices as well as resources. On the other hand, they do not have as many assets accessible for trade as you might anticipate, and the absence of a live support option is, in my opinion, an omission on their part. On the other hand, whenever I did get in touch with them by e-mail, they were quick to react and always provided responses that were quite detailed. If I were in the market for a new broker, I may feel compelled to give them a go at least once.
MEX Exchange is a foreign exchange broker that provides trading services for customers using the MetaTrader 4 and MT4 Mobile trading platforms. In terms of the model for executing orders, MEX Exchange operates as an a-book broker. The trading options available on MEX Exchange include commodities, currencies, indices, shares, and CFDs. ASIC is in charge of overseeing MEX Exchange's operations (Australia).
Mex Exchange is a foreign exchange broker that provides clients with the option to open either a Classic or an ECN account. A demo account is also available, which comes with a simulated investment of $100,000 and a leverage of up to 1:500.
Trading on numerous trading accounts and the employment of expert advisors is made possible with the help of Mex Exchange's MEX Account Manager (MAM) and the Percent Allocation Management Module (PAMM), both of which are available in two different flavors.
Additionally, the broker offers virtual private server hosting. The tradable asset portfolio consists of over 30 different currency pairings, as well as metals, CFDs on chosen equities (such as Facebook, Apple, Twitter, Baidu, and Alibaba, among others), a spot commodity (oil), and commodity and index futures.
Mex Exchange is a foreign exchange (FX) broker that operates out of Australia. Mex Australia, a business that is duly registered and controlled by the Australian Securities and Investments Commission, is the owner of it (ASIC). According to the results of our investigation, the AFSL number of the firm, 416279, is the same as the number of a retail over-the-counter (OTC) derivative issuer called Ikon (Australia) Pty Ltd. According to the information included in the ASIC database, "Ikon" was formerly used to refer to Mex Australia.
Ikon ran into some issues earlier this year with the ASIC, and as a result, the company has now agreed to keep the money of its international customers separate from those of its customers in Australia. The Hong Kong-based corporation formerly known as Ikon MultiGroup Bank announced in the summer that it will be renaming itself as MultiBank Exchange Group (MEX Group), and the company's Australian affiliate will now be known as Mex Exchange.
Mex Exchange has spreads for the EUR/USD pair that begin as low as 0.2 pips and have an average of 0.9 pips. When taking into consideration the relatively narrow spread, it is appropriate to charge an additional commission, and the commission of USD 7 per lot that Mex Exchange levies is not too exorbitant.
Mex Exchange provides a maximum leverage of 1:500 for foreign exchange and 1:250 for commodities trading. The 1:500 is quite high and risky, particularly for traders with little experience; however, there is currently no regulatory limit on the amount of leverage that brokers in Australia can offer their customers. This means that brokers in Australia are free to offer their customers whatever leverage they see fit.
Trading is available on the widely used MetaTrader 4 platform through Mex
Exchange (MT4). The platform was developed and made available for purchase by
MetaQuotes Software in 2005; nonetheless, it is still utilized by a large number
of brokers, including FXChoice, FXPro, FXCM, and others. The fact that it is
dependable and stable, that it supports PAMM and MAMM capabilities, that it
enables API connectivity, that it has a large range of technical analysis and
charting tools, and that it is one of the key reasons for its popularity are
among the primary reasons for its popularity. Additionally, it is user-friendly
and it allows both automatic trading as well as Expert Advisors.
Mex Exchange allows customers to fund their accounts through bank wire transfers, credit cards issued by Visa and MasterCard, as well as online payment methods like as Neteller, Skrill, FasaPay, and China UnionPay. These choices are pretty typical and may be found on the platforms provided by most forex brokers.
Mex Exchange gives the impression of being a broker that is both well regulated and highly regarded upon first glance. It is a little strange that the essential details regarding the trading conditions, such as leverage, commissions, minimum deposits, and so on, are either dispersed all over the website or are not available at all, requiring one to get in touch with the support office and be persistent in order to obtain the information. To tell you the truth, this is not very user-friendly. Another thing that is a little bit unsettling is that the broker has had some problems with the Australian regulation, and immediately after those problems surfaced, the broker changed their name.
On the other hand, the ASIC, a watchdog that is known for its reputation for keeping a tight eye on the goings-on with its wards, is the regulatory body that oversees the activities of the broker.
MEX is committed to provide the market with spreads that are among the most competitive. We have made significant investments in this technology, which enables MEX Exchange to operate with a level of reliability and readability that is unmatched in the industry. We have developed significant ties with the industry's most prominent liquidity providers, and we are continually investing in order to give our customers the very best possible trading experience.
MEX is aware that not all traders and investors have the same objectives or risk tolerances, and we accommodate for this. For this reason, we provide a diverse selection of financial products, including Foreign Exchange, Metals (Gold & Silver), and CFDs, for our clients to choose from.
MEX provides traders with a wide variety of trading tools, some of which are MAM & PAMM, Virtual Private Servers, Trading Facilities for Partners, White Label Technology, and many more.
MEX employs the most popular trading platform on the market, which is MT4. In order for trading to be truly effective and profitable, a trader must not only have knowledge of the trading process, but the software itself must provide each and every tool that will maximize his or her ability to be successful. MEX platforms are designed around the notion that in order for trading to be truly effective and profitable, a trader must have knowledge of the trading process.
Our mobile trading solutions have been created and constructed uniquely for iPhone, iPad, and AndroidTM smartphones. This was done to provide you with the greatest trading experience possible and to allow you to have total control over your account and your trades, regardless of where you are.
The Australian Securities and Investment Commission (ASIC) regulates MEX Exchange, and the company complies with all of the agency's stringent capital requirements. When you fund your trading account, your client funds are kept in separate trust accounts managed by Australian institutions.
Through the integration of 11 new features into MT4, the MEX NexGen MT4 platform gives traders a more transparent view of the trading landscape. Over and above the tools that are already included in the underlying trading platform, MEX NexGen provides extra MT4 tools of institutional grade. This comprises sophisticated trade execution and administration, support with making decisions, enhanced alerts and messaging broadcasting features, as well as news and market data.
The Alarm Manager is a personal trading assistant that may inform the trader about occurrences, as well as the trader's followers on social media, and carry out any number of automatic activities, including establishing positions and sending email.
Traders are provided with priceless market knowledge on a variety of time frames by the Correlation Matrix, which subsequently helps them to make decisions that are more risk-informed. The Matrix displays the degree to which different markets are correlated with one another and gives the trader the ability to pinpoint regions of low or high correlation.
Traders are given the ability to evaluate the correlation between two symbols and trade any apparent discrepancies using the Correlation Trader. In addition to displaying the correlation between the symbols, it also displays recent price action and any open positions in the selected symbols.
Excel RTD utilizes straightforward formulae to import real-time account, ticket, and pricing data into Excel; the software does not rely on macros or other forms of programming. Traders that do have a fundamental understanding of programming may also utilize the app to submit trading commands from within Excel (or any other COM environment).
The Market Manager allows users to exercise complete command over symbol watch-lists in addition to all account and order activities from inside a single compact and user-friendly window. Traders have the ability to alter current positions, monitor recent price action, place market and pending orders, choose symbols, and view recent price activity.
The Mini Terminal is an extension of the Trade Terminal, and at the moment, it is only available for MT4 and MT5. It displays the same deal ticket as the Trade Terminal, but it does so inside the context of a particular trading chart.
The Sentiment Trader displays sentiment based on genuine open positions, which is the amount of traders that are either long or short on the underlying asset. Additionally, the application displays historical sentiment plotted against price, in addition to a dashboard that displays current sentiment on a number of different symbols.
The trader is provided with a concise market overview across the world's primary markets and the various time zones by the Session Map. It displays the current time in every region of the world, as well as markers for upcoming news events and a summary of price fluctuations during each trading session.
Traders are able to conceal their pending orders from other market players by
using an app called Stealth Orders. The application does not place a stop order
or a limit order; rather, it waits for an entry price to be reached before
buying or selling at market prices. Additionally, it is possible to set covert
stop-losses and take-profits using this program.
The Tick Chart Trader presents a wide range of tick charts, including timed tick charts, tick bars and candles, and the more conventional tick-by-tick line charts. Additionally, the application enables extremely rapid order input through the use of single mouse clicks or keyboard shortcuts.
The Trade Terminal is a professional tool for trade execution and analysis that is packed with a wide variety of features. It provides precise trading, automatic scaling in and out of positions, order entry templates for commonly used markets, and analysis of open positions.
Trading in foreign exchange (FX), metals, and contracts for difference (CFDs) are all available through the MEX – MT4 Platform. This platform combines MEX's cutting-edge ECN technology with the MT4 Trading Systems. We have made significant investments in this technology, which has resulted in MEX Exchange being able to execute with an unrivaled level of stability and dependability as well as tight pricing with five two-way figures.
The MEX Exchange MetaTrader 4 basic account offers our customers quick execution speeds and spreads that are among the best in the industry. This account type is suitable for traders of all experience levels.
At MEX Exchange, maintaining the consistency and dependability of our servers is our top concern. Because we place such a high priority on offering the most cutting-edge solutions to our customers, we have chosen to locate our data centers in the heart of New York City's financial sector.
Because we have established connections with several of the industry's most prominent liquidity providers, we are in a position to deliver an unrivaled trading environment to each of our customers.
Through the MT4 trading platform, MEX Exchange gives its clients access to True ECN Connectivity, which enables the exchange to deliver market-leading pricing and trading circumstances.
This forex trading platform uses MEX ECN to obtain its raw feed straight from our ECN (Electronic Communication Network) connection. As a consequence of this, it generates the narrowest spread on EURUSD beginning from 0.0 pips on average, making it the front runner in our line-up of platforms.
The MEX Exchange does not levy any fees on its users for making deposits or withdrawing funds. However, please be aware that transfers to and from overseas financial institutions may be subject to intermediary transfer fees and/or conversion costs from either side. These fees are not levied by MEX Exchange and are independent of the transaction. The customer is going to be responsible for paying any fees of this kind.
Our comprehensive online analysis of MEX Exchange was carried out using the information gathered from the demo trading and the websites of the forex brokers. Please get in contact with us if you would like to contribute details to this online MEX Exchange or if you discover data in the MEX Exchange broker review that are wrong, and we will make the necessary adjustments.
MEX Exchange is a well-established organization in the field of online
financial trading. It has been operating since 2012 and has rapidly risen to
become one of the most well recognized organizations in the industry. MEX
Exchange is a market leader in the area of online financial trading. Through its
cutting-edge trading platforms, MEX Exchange gives its users access to the
trading of a wide variety of financial products. These instruments include
forex, metals futures, stocks, and contract for difference (CFDs), among others.
Please continue reading our analysis of the MEX Exchange for further details.
MEX Exchange is a subsidiary of MultiBank, a well-known provider of financial services with locations in Los Angeles and Sydney; Frankfurt, Madrid, Vienna, and Cyprus; MEXFintech in Hong Kong; and additional branch offices in Hong Kong; GmbH, MEX Asset Management in Austria; Tianjin, Beijing; Ho Chi Minh City; and Hangzhou, amongst other cities and countries. MEX Exchange is a member of a global group.
Overall, the broker has become extremely large, and its services are now provided to 300,000 institutional and retail clients in over 90 countries. These clients are located all over the world.
MEX Exchange is an Australian-based financial services firm that conforms completely with all applicable rules and regulations while also providing low-risk trading possibilities. MEX Exchange is headquartered in Australia. Because Australia is such a prominent and respected nation, its financial institutions are subject to stringent supervision. These institutions are required to maintain high capitalization levels and to provide protection for their customers in order to maintain the market's integrity and encourage healthy competition.
MEX Exchange is a reputable broker as evidenced by its registrations and connections, as well as the fact that it is regulated and licensed in Australia. In addition, it is becoming more and more obvious that MEX Exchange is a member of the MultiBank Exchange Firm, which is a global financial investment organization that is carefully supervised by globally recognized authorities in various countries that are respected.
There Are Five Simple Steps To Take Before Opening An Account
The process of opening an account with MEX Exchange is a simple one that requires you to provide only the information and paperwork that is essential to get things up and running. You may create an account by going to the URL that has been supplied and then following the steps that appear on the screen.
Simply click on the link to create a brand new account.
In order to validate your Live account, you will need to provide both your personal information and your trading experience.
If you click on the link that was sent to you in your email to verify your account, you will be granted access to the account area as well as demo trading.
Put some money in your account to get things started.
Obtain entry into the opportunities for trading and the market.
MEX Exchange provides its customers with two distinct account types, each of which is geared toward a certain trading strategy. There are two primary classifications of accounts:
a Standard account that has just the spread as its base.
An electronic communication network account that levies a commission fee on each exchange.
Both accounts include a powerful implementation of STP bridges that were designed by the MEX Exchange group. You will probably find that MEX Exchange's terms and conditions, in addition to the pricing structures, are to your liking. This is because MEX Exchange places a great priority on the reliability of performance.
MEX Exchange is building its portfolio with the products that see the most popular trading, and it is now enabling trading in foreign exchange, commodities, and contracts for difference (CFDs). If you trade contracts for difference (CFDs) on cash indices, rather than trading indexes directly, you can have access to cash index trading without having to pay the exchange expenses that are often incurred when doing so.
MEX Exchange is now equipped with cutting-edge ECN technology, which has transformed it into an unrivaled stability platform that is suitable for both experienced traders and novices.
Solutions for Depositing and Withdrawing Money When it comes to making deposits and withdrawals, MEX Exchange provides a number of payment options that are rapid, uncomplicated, and safe. In addition, you have the option of selecting a base currency, which will prevent any additional currency conversion costs from being applied to monetary transactions.
MEX Exchange does not demand any deposit. In other words, traders can specify the amount, to begin with, as a minimum of 0 dollars for any account (Standard or ECN Accounts), but they should double-check all of the necessary margins for each item they want to trade in order to avoid any unexpected losses. The traders have access to a number of different methods for depositing funds, including card payments, wire transfers, and services provided by payment providers like as Skrill, Neteller, and China UnionPay.
In general, MEX Exchange has the potential to be a useful option for both inexperienced and seasoned traders alike. The MEX Exchange has a long and illustrious track record of providing successful trading services. In addition to this, it has established a powerful technological infrastructure to make trading easier. In addition to this, it has increased the breadth of its offerings to encompass a greater variety of assets in addition to commercial and instructional resources. As a consequence of this, the MEX Exchange has the potential to be a workable option for both inexperienced and seasoned traders.
MEX Exchange is a platform for trading cryptocurrencies that was established in Australia in 2012 and made its services available to the general public at that time. Since that time, it has made it simple for traders to enter the realm of initial coin offerings (ICOs) and cryptocurrencies, without putting them in a position where they are exposed to an excessive amount of risk or volatility. Let's have an in-depth discussion about the MEX Exchange broker options so that we can select one of the most suitable options for you right now.
The Classic Account on MEX Exchange is designed for those customers who are interested in trading quickly and efficiently while benefiting from tight spreads and assured order execution. Customers who have this account have the option of working on either the desktop or mobile version of the platform, depending on their preference. They have a $0.01 minimum account balance requirement in order to create a standard MEX Exchange account with them.
This account type offers nearly all of the same customization choices as the standard account does. However, each trade will cost you a fee of seven dollars with this account. In addition, they provide the greatest instructional materials, which, when combined with sufficient practice, may quickly turn you into an expert. They provide cheap pips, as low as 0.5, in terms of their spreads.
One of the most common causes of dissatisfaction among participants in the trading sector is the hefty fees that must be paid. If you check out a lot of different brokers, you'll find that some of them demand extremely high commissions on your transactions, while others may take a very lengthy time to process your withdrawals and deposits, which is a situation that may be quite aggravating.
This new brokerage offers you the convenience of not charging a fee for making deposits and does not charge a fee for withdrawing money either. In addition, because of all of these different charge variables, this broker has a very poor score in terms of fees. Because of this feature, this brokerage becomes much more distinctive and in-demand in the market, mainly due to the fact that the price for any transactions counts a lot more.
MEX Exchange provides service through a variety of different channels around the clock. Messenger is the platform that hosts the live chat, and the website itself features a box labeled "Live Support" where users may initiate live support sessions with a member of the company's staff. During business hours, sending an email to the company's Live Help email address will get you a response from a customer support representative within the next 24 hours. Customer care representatives from MEX Exchange are available around the clock and in more than ten different languages via Live Help, Live Chat, email, and a variety of phone numbers.
Mobile Trading on the MEX Exchange gives traders the ability to transact business from virtually any location using just their mobile devices, such as smartphones and tablets. It provides comprehensive trading capabilities and provides you with rapid access to both the markets and the data of your account.
Additionally, it is possible to either track transactions or duplicate deals from any location using a device that is enabled with Internet access. Users will have the capacity to respond rapidly to unanticipated possibilities as a result of this. Additionally, the app provides real-time push notification notifications for price movements, news events, breaking market information, technical analysis signals, and a great deal more besides. All of these alerts are updated in real time.
The idea of leverage is straightforward. Essentially, the plan entails spending a little amount of money to acquire a much more valuable item by employing leverage. After then, you either have the option of selling the asset for a profit or continuing to hold the position in order to receive returns from the difference in selling price over the course of time. The MEX Exchange provides their retail traders with a leverage ratio of 1:500. Join them as soon as possible and take advantage of the increased earnings offered by the leverage choices.
The MEX Exchange offers its traders a wide variety of resources, giving them the chance to achieve the highest possible level of success. Because it runs on the most popular platform in the industry, MT4, it gives traders access to one of the most comprehensive collections of trading instruments. MEX Exchange is a trading broker that provides clients with sophisticated charting and trade analysis tools. These tools were developed with mobile users in mind, making it possible to never miss a potentially profitable transaction. In addition, this brokerage offers excellent customer assistance, with representatives available around the clock to answer any questions you may have. This broker ensures that all customer monies are kept in separate bank accounts in Australia that are covered by the Financial Claims Scheme so that they can comply with the regulations that govern their industry.
MEX Exchange is a reputable organization that has been providing successful
trading services for many years. Their history is extensive.
It not only established a solid technical platform to facilitate trading, but it also extended its offerings by providing a wide variety of assets to trade, several account kinds from which to select, as well as educational resources and customer assistance.
Research conducted in South Africa indicates that MEX Exchange has been operating as a financial trading business in Australia since 2012 and has become one of the industry's most well recognized organizations throughout that time.
MEX Exchange gives its customers access to trade on a variety of financial products through its sophisticated trading platforms. These financial instruments include Forex, Metals, Stocks, and CFDs.
MEX Exchange is a subsidiary of the multinational financial services corporation known as MultiBank, which also has locations in Sydney, Los Angeles, Vienna, Frankfurt, Madrid, and Cyprus, in addition to MEXFintech in Hong Kong.
Offices of MEX Group Worldwide may be found in Hong Kong, Beijing, Tianjin, Hangzhou, and Ho Chi Minh City, in addition to MEX Asset Management (Austria) GmbH in Austria.
In addition, the MEX exchange offers a large array of trading options with competitive pricing and robust market conditions. It offers a diverse selection of products and provides unmatched service for customers. When it comes to selecting a company to supply you with financial services, MEX Exchange should be your first and only option.
MEX Exchange is a financial services provider based in Australia that complies completely with all rules and regulations in that country. The financial industry in Australia is subject to stringent regulation, and companies are required to maintain high capitalization and customer protection, therefore preserving the integrity of the market and promoting healthy competition.
The institution known as ASIC, which is a world leader in terms of regulation, is in charge of exercising control over financial companies.
Because the MultiBank Exchange Organization is a global financial investment group that is rigorously regulated by the world's most respectable authorities in a variety of countries, the fact that MEX Exchange is also a part of the MultiBank Exchange Group is a significant benefit.
In regard to the requirements imposed by ASIC, MEX Exchange upholds the established international norms for the handling of the traders' funds and the operation of their accounts, providing the best possible degree of protection.
This necessitates separating the cash belonging to customers and those belonging to the corporation, rendering the former inaccessible to the latter, and implementing safeguards for financial dealings.
Your investment will be protected by the laws of the country thanks to the set of guidelines that have been established, which will also protect your interests and provide transparency throughout the trading process.
Retail traders are able to take advantage of large leverage ratios on the MEX Exchange, which may go up to 1:500. The amount of leverage that may be obtained is also contingent upon the asset that is being traded and is specified by the level of the trader; hence, professionals can access larger levels after their status has been verified.
However, it is always vital to understand how to utilize leverage intelligently, since many authorities from across the world have already significantly cut the maximum allowable levels of leverage with the intention of protecting their customers.
MEX Exchange provides traders with two different account kinds, each of which is tailored to the trader's individual trading preferences. This comprises both a Standard Account that operates on a spread-only basis and an ECN Account that charges a fee for each transaction.
The MEX Exchange group is responsible for the development of the STP bridges used by both of these systems, which enable powerful execution.
The MEX Exchange spread that you employ depends on the type of account that you have. Spreads start at 0.5 pips and there are no further expenses associated with the Standard account, making it an excellent choice for an uncomplicated calculation because all of the costs are contained in the spread.
MEX Exchange swaps and overnight fees are examples of additional expenses that may be applied on top of your holdings. These fees are assessed in the event that a position is maintained for more than one day.
Swaps are computed on an individual basis for each instrument, and the results may be viewed and verified immediately on the platform.
MEX Exchange provides customers with a variety of quick, user-friendly, and risk-free payment alternatives for making deposits and withdrawals; in addition, the company channels all business through a Client Portal. You have the option of selecting a desired base currency to ensure that no additional currency conversion costs are incurred during money transfers.
MEX Exchange requires no money to start. This indicates that you have the ability to define the minimum starting balance for your Standard or ECN Account, which is set at zero dollars.
Processing withdrawals entails filling out an online form that may be found on the website. The MEX Exchange does not levy any fees on its users for making deposits or withdrawing funds.
However, transfers to and from foreign financial institutions may be subject to intermediary transfer fees and/or conversion costs from either side. These fees are unrelated to MEX Exchange and are charged by the receiving institution.
Because it enables immediate card funding, the broker recommends that customers make deposits using our Client Portal whenever possible.
Trading may be done on Mex Exchange using the MetaTrader4 technology platform, which is also supported by a partial fill using bridge technology.
MEX Exchange upgraded software with an extra add-on and several features, boosting its potential for effective trading. This was accomplished despite the fact that the MetaTrader4 platform is well-known among traders all over the world.
With the ECN technology that MEX Exchange created, the MT4 trading platform now supports trading in foreign exchange, metals, and CFDs. This makes it an exceptionally stable platform that is appropriate for both experienced traders and novices.
The platform that users trade on is called as MEX NexGen MT4, and it is an online-based platform that includes all instruments as well as full analysis. The platform provides complete support for APIs and Algos, as well as access through PAMM accounts and does not restrict EAs.
In addition to the tools that are already included in the core trading platform, this provides access to additional institutional-grade MT4 features.
This comprises sophisticated trade execution and administration, support with making decisions, enhanced alerts and messaging broadcasting features, as well as news and market data.
This enables trading in foreign exchange (FX), metals, and contracts for difference (CFDs) by employing MEX's cutting-edge ECN technology in conjunction with the MT4 Trading Systems. In turn, this makes it possible for MEX Exchange to function with an unmatched level of stability and dependability as well as tight pricing with five two-way figures.
Traders have the ability to handle many live and demo accounts simultaneously with the help of the MT4 Multiterminal software. MEX Account Manager (MAM) has shown itself to be a technologically more advanced solution that is mostly utilized by professional money managers.
The MT4 MEX terminal (PAMM), on the other hand, does not come close to matching the capabilities and allocation mechanisms offered by MAM software.
The MEX Account Manager (MAM) program enables efficient trading and maintenance of many accounts from a single interface, and it was developed with the sole purpose of catering to the needs of professional traders and money managers.
MAM stands out as one of the most effective solutions for account management thanks to its intuitive user interface, cutting-edge technology, and complex functionalities.
API stands for "application programming interface," and FIX is for "financial information exchange." This protocol for electronic communications facilitates the interchange of financial information.
Because the FIX API was developed to function in an anonymous manner, traders who operate with proprietary software are free to make extensive use of it without running the danger of having their trading strategy made public.
The analysis of the MEX Exchange is not difficult at all.
First, make sure you fill out the application online.
A practice or demo account can be opened in advance of a real money account if you so want. For the purpose of strategy back testing, a demo account that does not expire is available to all Live and paid customers. Click the link that is located on the homepage of the broker's website in order to access the registration portal for the demo account.
Step 2: Add any additional information you have.
Please provide your personal information in the registration form that is located online. This will contain your complete name, email address, phone number, and the nation in which you now reside.
Choose the type of live account you want to create a sample version for, then follow the on-screen instructions. The Standard Account, the Pro Account, and the ECN Account are the three available options for traders.
Step 3: Confirm that you own this account
To send in your application, just click the "register" button.
MEX Exchange offers educational content that is developed through a cooperation with Lepus Proprietary Trading, which is well recognized as a leading Forex educator.
In addition to this, it offers newly established options for money managers in the form of PAMM or MAM accounts as well as a variety of institutional programs.
Lepus provides several in-depth instructional material modules, video lessons, and web casts, all of which were developed from first-hand expertise by a professional trader with twenty years of industry experience.
It gives information as well as video lessons on MetaTrader4, which will aid you in getting started, and it also has a MEX Blog, which can provide further assistance to traders.
MEX Exchange provides a variety of research engines that can aid traders with having relevant trading information at their disposal.
It is a strong search engine that continually scans markets and can automatically detect trade set-ups based on support and resistance levels. Autochartist was created by traders specifically for traders. When a potential opportunity has been located, traders are given the relevant information.
You may become comfortable with your Autochartist environment and customise it by watching brief how-to films, which can be found under the Trading Community tab of the Autochartist user interface.
You can find helpful connections to e-books and resources, such as a list of the instruments that your broker covers, if you save the online user manual and use it as a fast reference.
In addition, Autochartist is equipped with a risk calculator that enables users to determine the optimal size of their holdings in relation to the sum of money they are willing to put at risk on a particular transaction.
In addition to that, MEX Exchange offers an Economic Calendar. An powerful auto-execution mirror system is made available to customers of DupliTrade. With this system, customers are able to automate their trading on Forex, Indices, and Commodities by mirroring the transactions made by strategy providers.
MEX Exchange is a reputable organization that has been providing successful trading services for many years. Their history is extensive.
It not only established a solid technical platform to enable trading, but it also extended its offerings by providing a wide variety of assets to trade, a selection of account types from which to pick, as well as educational resources and customer assistance.
In general, MEX Exchange is a platform that both novice and experienced traders alike would want to take into consideration as a potential choice. The website only contains favorable reviews overall. Traders are delighted with MEX Exchange's support staff as well as the variety of products and services it provides.
Because the senior team of professionals that make up MEX's management have
all worked as traders at one point or another in their careers, it is quite easy
for us to comprehend the requirements that our traders have. The mission of the
team is to guarantee that MEX's offering continues to be creative, relevant, and
competitive at all times.
MEX is using cutting-edge Equinix Datacenters in New York's NY4 as well as London's LD4 in conjunction with oneZero connectivity. This enables MEX to choose from leading tier one liquidity providers in order to create individualized liquidity pools that cater to the specific requirements of their traders. To put this in layman's terms, this indicates that we strive to keep your expenses as low as possible while also systemically customizing the price to correspond with your trading strategy.
All of our infrastructure and technology is complemented by an extensive collection of cutting-edge trading tools that have been carefully selected. With one goal in mind – to assist our traders in making better informed decisions more often – we have selected a huge array of trading technologies, tools, and systems by delegating the task to a staff that is extremely competent and has a lot of expertise in the field.
Mex Exchange is an online brokerage company is headquartered in Australia and does its business there. A broker needs to put in years of hard work, preparation, and capturing into a position where the market professional will continue with them before they can win a customer's confidence and faith. On the other hand, it is a less strenuous activity than performing. However, the Mex Exchange broker is rather distinct from them in certain respects. The CFD trading instruments offered by the broker are quite limited in range, and the trading facilities and tools offered by the broker are just mediocre. When compared to other leading brokers in the business, both the commission and spread costs are on the upper end of the pricing spectrum. Additionally, there is no activity in the customer support. Let's look at a comprehensive assessment of the Mex Exchange that takes into account all of the trading features and services.
The Australian Financial Services License (AFSL) both regulates and authorizes the broker. However, it does not make use of any extra security measures such as separate bank accounts or more sophisticated encryption software. There are a few distinct categories of brokers, including dishonest brokers, legitimate brokers, and a third kind whose existence defies explanation. In regard to this broker, the situation remains the same as before. We are unable to classify it as a fraud, but we also cannot classify it as legitimate. It's risky to put your money, especially your hard-earned money, in the hands of Mex Exchange.
The broker makes available to clients not one but two distinct trading accounts: the Classic account and the ECN account. The account kinds are quite restricted, and they do not provide the more sophisticated services and features that are necessary for successful trading. When compared to those of other brokers, both the spread and the commission rates are rather pricey. A significant number of the industry's most successful brokers provide standard accounts that have all of the necessary functions.
In addition to this, the sample account that the broker provides has features that have been disabled for security reasons. However, this does not provide access to all of the trading capabilities that are available on the demo account. The fact that rookie traders may practice all of the trading tools and trading methods before going live might be seen as a disadvantage for newbie traders.
For someone who is not experienced in the financial markets, creating an account might be a highly complicated procedure. Customers are need to adhere to a number of laborious procedures before they may establish an account, and the opening and activation of the account could take several days. In addition to this, they require that you agree to the terms and conditions. However, users are unable to find any indication of restrictions on the website where they join up. This is another another critical warning sign. When compared, the other brokers in the market provide account opening methods that are both digital and hassle-free, and they activate accounts within a single working day.
The broker provides clients with access to a very limited selection of trading products. Forex and metals are the only two instruments that are made available by brokers. That is also not possible to do directly using contracts for difference (CFD). In addition, the number of metals and currencies available in each category is noticeably restricted. Because of this obstacle, the opportunities for traders and investors to make a profit are reduced.
There is no indication on the website of the number of different metals and foreign exchange currencies that are available for trading. When the user visits the market tab on the website, there is an inadequate introduction on what exactly is involved in forex and metal transaction. That much is observable by anybody, on whatever educational website they want. They are not being open and honest about the services they provide or the instruments they provide; rather, they are going around in circles to avoid answering questions directly.
When compared to those of other trading platforms, the spread charges and fees are significantly more expensive here. The spreads begin at a high of one pip, which is an excessively high point. Spreads that begin at 0.5 pip increments are only available to traders who have substantial, high-volume ECN accounts. Because the fee is assessed on each individual trade, the total amount of the commission is rather substantial.
On the most fundamental and traditional account, the leverage might be as low as 1:30. On a different account, which is referred to as an ECN, the leverage cannot be more than 1:400. On the foreign exchange market, several brokers provide leverage of up to 1:500. When a broker states that they exclusively deal in forex and metals, customers have a right to assume that they will have at least enough leverage in forex trade, as this market is known for its appreciation of large leverages. Traders and investors can reap the benefits of leverage by opening large positions with a little amount of cash.
Trading is available on PC, Android, and iOS devices using the broker's MetaTrader 4 platform. Although MT4 does provide a sufficient number of functionalities, there is no need to continue using it since that the majority of leading brokers and financial service providers have moved on to the more powerful MetaTrader5.
However, both the website and the trading process with this broker are quite difficult to understand and are not at all designed to be user friendly. There are a lot of tabs, and many of them do the same job. It appears that functionality is selected at random, and no consideration has been given to the product's usefulness. Due to the nature of the application and platform, it may take some time for many newbies and new traders to become accustomed to the interface. This is because the application and platform are not effective nor adaptable.
The broker does not provide many different payment alternatives for customers to use when making deposits or withdrawals. Credit cards, debit cards, Skrill, Neteller, and wire transfers from your bank are the many means of payment that are accepted. When compared to the extensive variety of payment alternatives made available by other financial service providers and brokers, this is a rather small number of available choices. They do not offer any warning regarding payments, thus individuals are need to confirm this information with their respective banks.
Both the initial deposit and any subsequent withdrawals of funds are subject to fees levied by the broker. The time it takes to process payments is also rather slow; in comparison to the processing times of other financial brokers operating in the business, it takes more than four to five days. The minimum withdrawal amount required for use of a debit card or credit card is 50 units, while the minimum withdrawal amount required for use of a bank wire transfer is 100 units.
Research tools assist in assessing profits and ensure that users are kept up to speed on the latest occurrences in their markets.
The economic calendar is a useful tool that provides you with information on a wide range of economic events, such as those that could or will take place in the market, price indexes, payrolls, or government reports. Traders are able to make informed judgments about their trades by using this method.
With the help of the Fibonacci Calculator, it is possible to calculate rise values as well as Fibonacci retracements in both uptrends and downtrends. It gives you the ability to enter high and low numbers based on your own preferences.
Calculators of this sort are called pivot calculators, and their primary purpose is to determine the pivot points that are used in forex trading.
The fact that the traders are unable to perform market analysis makes this a huge setback for them, and it increases the likelihood that they will encounter difficulties in their trading.
The broker provides access to a restricted number of educational materials for those looking for educational ideas. The most important element, however, is that there is a limited amount of content available in each area. Educational resources are an absolute necessity for novices and those just starting out. If one does not possess these tools, it may be challenging for them to successfully compete in marketplaces that are unfamiliar to them.
The broker makes it appear as though client care is available around the clock, seven days a week. But why does this particular aspect contradict what the practical evidence shows? It poses a problem with the fact that the support team is only available from Monday to Friday between the hours of 8:00 and 22:00 (GMT +2). However, when it is put through its practical paces, the response time appears to be far greater. The vast majority of the time, there is no one there to answer the phone. The emails that were sent out have not received a response. On the other hand, other top brokers have a highly committed customer support crew that is available around the clock. It is possible that this is a disadvantage since if the client needs support in an emergency, they are unable to acquire the aid in a timely manner.
We were unable to uncover any substantial advantages, with the exception of the fact that the fee is comparable to other options and the leverage is not terrible. However, before you engage in business with us, you are required to familiarize yourself with the following list of verifiable drawbacks:
Demo account with restricted functionality: These days, almost all trading platforms provide free demo accounts, albeit the functionality of these accounts is sometimes severely restricted. However, a sample account with this broker does not provide access to all of the trading facilities. No novice trader wants to dive headfirst into the market without first checking out a variety of trading techniques and indicators on a demo account.
Spreads that are rather wide The spreads that are used for major currency pairings, such as the Euro and the US Dollar, are quite wide. The majority of traders feel that this spread range is a little bit too high. There are a lot of brokerage firms that provide spreads that are half as high as this one.
TradeLTD only allows customers to deal in foreign currency and metals due to its limited product offering. In addition, there are restrictions placed on the quantity of certain assets that may be acquired through each type of trade.
Website quality is poor, and important information is missing: The broker's website gives the impression of being highly disorganized, and it does not contain the appropriate facts that should be mentioned by any broker platform. They do not provide any information on the quantity or type of securities that are exchanged. Regarding the safety and encryption of customer data, there is no mention whatsoever.
This concludes the in-depth analysis of the Mex Exchange broker. The broker is not the worst but also is not the best because there are many other top brokers in the business that provide a more advanced trading platform, trading tools, and features, along with low spreads and less minimum deposits. However, this broker does not offer these things. There are a lot of customer reviews online that talk about how unhappy they were with their Mex Exchange broker. Despite the fact that everyone has their own viewpoint, traders should verify all of this broker's facts carefully before choosing to work with this broker.
Is It a Scam to Use Mex Exchange? The Australian Financial Services License (AFSL) both regulates and authorizes the broker. There are a few distinct categories of brokers, including dishonest brokers, legitimate brokers, and a third kind whose existence defies explanation. In regard to this broker, the situation remains the same as before. We can't think of it as a con if it's also a legitimate business.
Does Mex Exchange Provide Opportunities for Learning and Research? The broker makes available only a small selection of instructional resources and does not provide any tools for conducting research.
MEX Exchange is a foreign exchange broker that operates out of Australia and
has its headquarters in Sydney.
Forex brokers are organizations that offer traders with access to platforms that enable them to purchase and sell foreign currencies. These platforms are known as forex trading platforms.
Retail forex brokers and currency trading brokers are both names that refer to the same type of business. In turn, retail currency traders employ these brokers in order to acquire access to the 24-hour currency market for the sake of speculating.
Institutional clients and huge corporations such as investment banks can also take use of the forex broker services that are available.
Since 2012, MEX Exchange has been operating successfully as a financial trading organization in Australia. It is a member of the international company known as MultiBank, which has locations across the world, including Sydney, Los Angeles, Vienna, Frankfurt, Madrid, Cyprus, and MEXFintech in Hong Kong.
Offices of MEX Group Worldwide may be found in Hong Kong, Beijing, Tianjin, Hangzhou, and Ho Chi Minh City, in addition to MEX Asset Management (Austria) GmbH in Austria.
It provides its users with trading access through sophisticated trading platforms on a variety of instruments, including as foreign exchange (Forex), precious metals, stocks, and contracts for difference (CFDs).
In addition, the MEX exchange offers a large array of trading options with competitive pricing and robust market conditions. It offers a diverse selection of products and provides unmatched service for customers.
On its website, MEX Exchange makes no mention of having won any accolades, and there is no indication that it has done so.
A foreign exchange account, often known as a forex account, is a trading account that is held by a trader with a firm such as MEX Exchange and is primarily issued for the goal of trading currencies.
Typically, the number of accounts and types of accounts that a trader is permitted to open with a broker firm will vary depending on the country in which the brokerage is based, the trader's country of residence, and the regulatory authorities under whose jurisdiction the firm is authorized to conduct business.
Both a Classic Account and an ECN Account are available to customers of MEX Exchange. The Classic Account is based only on the spread, while the ECN Account requires a commission payment for each trade. Both systems utilize very effective execution that is based on STP bridges.
Through the use of the Client Portal, all transactions are completed. When it comes to making deposits and withdrawals, MEX Exchange gives customers a variety of payment alternatives that are quick, easy, and safe to use. You have the option of selecting your own base currency, which will prevent any additional currency conversion costs from being incurred during money transfers.
Payments can be made via e-wallets like Neteller or Skrill, China UnionPay, wire transfers or bank transfers, debit or credit cards, or any combination of these methods.
To get started, MEX Exchange requires no deposit. This indicates that you have the ability to define the amount that you wish to begin with, as the minimum for Standard or ECN Accounts is 0 US Dollars.
The website has an online form that must be filled out in order to execute withdrawals, however neither deposits nor withdrawals are subject to any kind of fee on the website itself.
When making and receiving payments to and from foreign financial institutions, MEX Exchange is not responsible for any intermediate transfer costs or currency conversion fees that may be incurred from either side.
The cost of trading is determined by a number of factors including commissions, spreads, and margins. Other fees associated with trading include costs such as spreads and commissions.
The difference between the bid rate and the asking rate for a currency pair is known as the spread for that pair. A point of interest (pip) is the smallest possible change that can occur in a currency exchange rate. For currency pairs in which the Japanese yen serves as the term currency, one pip is equal to 0.01, but for all other pairs, one pip is equal to 0.0001.
Margin refers to the amount of money that must be present in an account before a position may be opened. The current price of the base currency in relation to USD, the size (volume) of the position, and the leverage that has been applied to your trading account are all factors that go into the calculation of margin.
Commissions are the fees that a trader must pay to an investment broker in exchange for the broker's assistance in conducting transactions on the trader's behalf. The amount of commissions charged will fluctuate from one broker to the next, as well as depending on the asset that is being traded and the kind of service that is being provided by the broker.
Traders often pay lesser commissions when they work with execution-only brokers, which are defined as brokerage firms that do not provide individual clients any kind of financial advice and that allow traders full discretion over the manner in which they trade the markets.
Trading contracts for differences (CFDs), a common type of derivative trading that enables traders to speculate on the rising or falling prices of rapidly moving global financial markets, will result in the payment of commission. Traders can speculate on the rising or falling prices of these markets by using contract for differences (CFDs) trading.
Trades in contracts for difference (CFDs) made on other markets don't incur commission fees, but they do add a spread on top of the price of the underlying asset.
The spread that you pay on MEX Exchange is determined on the account type that you utilize. The Standard account has all fees included in the spread, and it has a spread starting at 0.5 pips, making it an excellent choice for an option that facilitates straightforward calculation.
You will be able to take advantage of raw spreads beginning at 0.0 pips if you utilize the ECN account; however, there is a commission fee of US$7 associated with using this account. Swaps and overnight fees are additional expenses that may be imposed if a position is kept for more than one day. These fees are assessed in the event that a position is held overnight.
Swaps are computed on an individual basis for each instrument, and the results may be viewed and verified immediately on the platform. Visit the website for further details on the costs associated with fees and commissions.
Leverage refers to the facility that enables a trader to create a position with a considerably bigger exposure to the market in comparison to the amount of money that they first placed in order to do so. Leveraged products like this amplify a trader's potential profit, but they also raise the trader's potential loss, which is to be expected.
The level of leverage is typically stated as a ratio, such as 50:1, 100:1, or 500:1. Assuming that a trader has a trading account balance of US Dollar 1,000 and is trading ticket sizes of 500,000 USD/JPY, the trader's leverage will be equivalent to 500:1.
Retail traders are able to take advantage of leverage levels as high as 1:500 on the MEX Exchange. However, it is essential to acquire the knowledge required to make judicious use of leverage, as many of the world's authorities have already significantly reduced the maximum levels of leverage that are permitted for the express reason of protecting customers.
It is common practice for forex brokers to entice new traders with promises of enticing deposit incentives. This could be helpful, but it is very necessary to determine what a legitimate bonus is.
A bonus of this kind is just a method of compensating traders for selecting a certain broker, given that once the account is established, the trader will be subject to the same fees as any other participant in the market.
Once the trader has demonstrated that he is an active trader, he will be eligible to get the bonus, which is just a reward for the trader's decision that will reimburse part of the trader's costs.
In addition, the European Securities and Markets Authority (ESMA) has imposed investor protection requirements on the promotion, distribution, or sale of CFDs to retail clients as of August 1, 2018. These regulations have been in effect since that day.
These ban brokers from providing retail customers with a payment, monetary or excluding non-monetary advantage in relation to the marketing, distribution, or sale of a CFD, other than the realized profits on any CFD that is given. This can happen either directly or indirectly.
This indicates that a Deposit Bonus is not presently available for use with retail customers at this time.
The MEX Exchange does not provide any kind of benefits for its customers.
The platform is the name given to the forex trading software that is made available to the customers of a broker firm and is utilized by those customers in the execution of their transactions.
When referring to a platform, the term "multi-asset" refers to the fact that it enables customers to trade not only foreign exchange but also other asset classes, such as contracts for difference (CFDs) on stocks, stock indices, precious metals, and cryptocurrencies. A platform may also be multi-lingual.
What a customer wants to trade will play a significant role in determining which trading platform they should go with; thus, this factor will also be one of the factors they use to select a broker.
You can engage in trading through the MEX Exchange using the technological platform known as MetaTrader4.
MEX Exchange has improved the functionality of the MT4 trading platform by adding an extra add-on as well as a number of features, so boosting the platform's potential for profitable trading. MT4 is a popular platform among traders all over the world.
MEX NexGen MT4 is the name of the actual platform, and it is an online-based platform that includes all instruments and thorough analysis. It provides access to PAMM accounts, fully supports APIs and algos, and there are no restrictions placed on EAs.
A comprehensive transaction execution and administration system, aid with making decisions, enhanced alerts, and messaging broadcasting tools are also included, in addition to market data and news.
Traders have the ability to handle many live or demo accounts all at once with the help of the MT4 Multiterminal software.
The Account Manager, often known as MAM, is a more advanced technology solution that is mostly utilized by professional money managers. The MT4 MEX terminal (PAMM), on the other hand, does not come close to matching the capabilities and allocation mechanisms offered by MAM software.
The FIX Application Programming Interface (API) is a mechanism for the transmission of financial information that uses electronic communications. It is intended to function in an anonymous manner, and traders who operate under a proprietary system are free to make extensive use of it without running the danger of having their method made public.
MEX Exchange Licenses:
MEX Australia Pty Ltd is licensed by the Australian Securities and Investments Commission (ASIC), and its registration number is 155 084 058 AFSL 416279.
MEX Exchange is a well-known company in the sector of online financial trading. It began its operations in Australia in 2012 and quickly rose to prominence, becoming one of the most well recognized industry organizations. MEX Exchange gives its customers access to trade on a variety of financial products through its sophisticated trading platforms. These financial instruments include Forex, Metals, Stocks, and CFDs.
Also, MEX Exchange is a member of a global group, which includes the well-known company MultiBank. This company has offices in Sydney, Los Angeles, Vienna, Frankfurt, Madrid, Cyprus, MEXFintech in Hong Kong, along with additional branches MEX Group Worldwide offices in Hong Kong, Beijing, Tianjin, Hangzhou, and Ho Chi Minh City, etc. MEX Exchange is located in Hong Kong.
Overall, and as we shall see in greater detail about the services given by MEX Exchange, the broker grew to become quite a large one as a result of the fact that its services were delivered to over 280,000 retail and institutional clients located in over 90 different countries.
MEX Exchange is a trustworthy broker that provides excellent education as well as a trading proposition that is based on MT4 and requires no initial deposit of any kind.
The MEX Cons only provide Forex and CFDs as trading options, and customer service is not available around the clock.
Therefore, the MEX exchange is able to provide enormous trading chances with tight pricing and powerful conditions because of its unrivaled competence in technology, trading systems, and professional attitude towards FX and CFD traders. In addition, there is a wide selection of resources available, such as educational content developed through a relationship with LepusProprietaryTrading, a well-known Forex educator. These tools, along with help for any questions you might have, are all provided to you.
As well as extra established options for Money Managers through PAMM or MAM accounts and different institutional programs, which, when taken together, acknowledged MEX Exchange as a great trading provider with multiple industry awards, recognitions, and other gains. And this is in spite of the fact that they have a significant number of satisfied customers who trade with them and who appreciate its successes as well.
MEX Exchange is not a scam; rather, it is a legitimate Australian company that offers financial services and complies fully with all applicable rules and regulations to offer low-risk trading. As a result of Australia's status as a well-known and respected jurisdiction, the country's financial institutions are subject to stringent regulation, and they are required to maintain high capitalization and client protection standards. This helps maintain market integrity and promotes healthy competition.
Due to the fact that it is registered and regulated in Australia, you can be certain that it is a legitimate broker. Additionally, it is becoming increasingly clear that MEX Exchange is a component of the MultiBank Exchange Group, which is a global financial investment group that is stringently regulated by authorities that are acknowledged all over the world. This is the case because MEX Exchange is located in reputable jurisdictions.
In regard to the requirements imposed by ASIC, MEX Exchange upholds the established international norms for the handling of the traders' funds and the operation of their accounts, providing the best possible degree of protection. This entails separating the monies belonging to customers and those belonging to the corporation, rendering the former inaccessible to the latter, and implementing safeguards for financial dealings.
Overall, the collection of guidelines ensures that your investment is protected by the laws of the country, safeguards your interests, and makes the trading process transparent.
MEX Exchange still makes large leverage ratios of up to 1:500 available to ordinary traders despite the fact that it is an Australian financial investment organization. The amount of leverage that may be obtained is contingent not only on the instrument that is being traded but also on the level of the trader; experienced traders have access to greater levels after their status has been verified.
Nevertheless, it is always vital to understand how to utilize leverage intelligently, since many from across the world regulators have already decreased considerably the levels of allowable leverage in an effort to safeguard customers. Additionally, there are set margins for the trading of specific instruments, which you should examine and verify as well. A margin call occurs when there are not sufficient trading funds, therefore it is important that you check these margins.
MEX Exchange has two distinct account kinds, each of which is tailored to a certain trading strategy. This proposal contains a Standard account that operates with a spread only basis as well as an ECN Account that operates with a commission fee per transaction. Both accounts perform robust execution based on STP bridges that are developed by MEX Exchange group.
As a matter of fact, one of the primary concerns of MEX Exchange is the consistency of the performance; hence, you will most likely take pleasure in its terms in addition to the pricing models it gives, as well as receiving quotations from a wide variety of liquidity providers.
Opening a digital account is a rather straightforward process that requires you to either provide the required information and documents or place an order to have everything set up correctly. You may get started by clicking on a link to establish an account and proceeding through the subsequent steps.
Follow the link to open an account.
Your Live account cannot be activated unless you provide your personal information and trading history.
Follow the link that was sent to your email to verify your account, and then you will have access to your account area as well as demo trading.
Create the first down payment.
Gain access to the trade and market worlds
What exactly are MEX Exchange Fees consist of? Fees, also known as the amount that you are required to pay to the broker in exchange for the trading service that is being provided, are perhaps the most crucial aspect that any trader would think about. Other payments, such as non-trading costs and inactivity fees, need to be taken into account in addition to the normal charge spread, which is the difference between the sale price and the purchase price. For a rating of the fees, see the table below.
MEX Exchange swaps and overnight fees are examples of additional expenses that may be placed on top of your holdings. These fees are payable in the event that a position is maintained for more than one day. Swaps are computed on an instrument-by-instrument basis due to the fact that each currency pair has its own swap charge on an individual basis, which may be viewed immediately from the trading site.
Additionally, other prices may include an inactivity fee or fees that might perhaps be waived for withdrawals or deposits; therefore, it is preferable to analyze the entire package all at once, just like we do in our MEX Exchange Review.
The MEX Exchange spread, as is customarily the case, is determined by the account type that is being utilized. As a result, a Standard account with all expenses integrated into spread provides spreads from 0.5 pips with no further charges, which is an excellent choice for an uncomplicated calculation over the take positions.
In the event that you would rather use MEX ECN, you will be able to obtain raw spreads beginning at 0.0 pips, but the commission fee will be $7. You will find some samples of Forex spreads below for the Classic account. On the other hand, we discovered that the MEX costs are extremely competitive.
MEX Exchange populates its portfolio with the most actively traded assets and makes trading in Forex, Metals, and CFDs available to its customers. You will have access to Cash Index trading if you engage in trading CFDs; but, unlike direct trading of indices, you won't have to pay the exchange costs that are normally incurred while doing so.
In addition to cutting-edge ECN technology, MEX Exchange achieved a transformation that turned it into an unrivaled stability platform that is appropriate for both professionals and novices. This is a beneficial benefit, despite the fact that the instrument range is quite simple.
MEX Exchange provides customers with a variety of quick, user-friendly, and risk-free payment options for making deposits and withdrawals; in addition, all operations are performed through a Client Portal. In addition, you have the ability to select the base currency of your choice, which eliminates the need for any additional currency conversion costs during money transfers.
MEX Exchange has no deposit requirement. Traders have the ability to determine the initial capital they wish to trade with, with the bare minimum required for Standard or ECN accounts being zero dollars; nonetheless, it is important to ensure that sufficient margins are maintained for the instrument that will be traded.
There are no fees assessed for any withdrawals made through the MEX Exchange. However, depending on the payment provider as well as international legislation, some costs may be applicable. Because these fees are going to fall on your side, it is usually best to check them with the payment provider directly as soon as possible.
How much time does it take to take money out of the MEX Exchange account?
In most cases, the broker will confirm your withdrawal request within one to two business days. However, you should always add additional days just in case, as payment providers may take their time to process the transaction. How long this takes will always depend on the country in which you are based.
Mex Exchange provides you with the ability to trade by using the widely used MT4 technology platform, which is also enabled by a partial fill using bridge technology. MEX Exchange upgraded software with an extra add-on and several features, boosting its potential for profitable trading. Despite the fact that MetaTrader4 is a well-known platform among traders across the world, MEX Exchange made these enhancements.
In the beginning, Web Trading gives you the ability to access the trading room even if you do not have any of the required software. All you need to do is load the website into your browser to gain access to your account and begin trading. This is quite helpful in any situation; nevertheless, it is important to keep in mind that the desktop version is the only way to access more extensive tools, as well as certain add-ons or features; thus, if you want to engage in sophisticated trading, you need install a desktop version.
There are only a few versions of the software that are adaptable to the many different kinds of devices, and it is also continually being improved. The actual platform is called as MEX NexGen MT4, and it is an online-based platform that includes all of the instruments and detailed analysis that MT4 is recognized for.
Additionally, the platform offers complete support for APIs, Algos, non-restricted Expert Advisors, and access through PAMM accounts that are available for managers. This ensures that all of the comprehensive features, in addition to thousands of research and analysis tools, can be found on the platform.
The mobile app is also included in the bundle, and despite the fact that it comes loaded with a broad variety of capabilities, it can be navigated through with relative ease. MT4 mobile not only allows you to fully manage your account but also provides a wide variety of charting features and customisation options, all of which are ideal for mobile trading.
Customers have access to many help options in every situation or inquiry they may have because to the diversity of the firms and their global reach. The customer assistance is provided via chat, email, phone lines, and other mediums around the clock and is available in more than ten languages. The service desk, onboarding, configuration, and cash management are also available.
Those who are just starting out may rely on educational help in the form of learning materials, videos, tutorials, and seminars that are tailored to the degree of experience and are fit for your requirements. It is true that having a solid education and plenty of relevant knowledge is essential to achieving success in trading; consequently, MEX Exchange is a good partner for you as well, so long as the broker has partnered with LepusProprietaryTrading or another reputable trading veteran company that offers quality information.
Further along in the process of trading, the broker also gives current online financial news in many languages that were timely recognized as well, and this is where MEX Exchange maintains its own Blog.
The platform makes research materials and analytical tools available to users. In addition, the platform provides access to Autochartist and a fantastic opportunity to benefit from DupliTrade's advanced auto-execution mirror system. DupliTrade is widely recognized as a leading signal provider for trading Forex, Indices, and Commodities.
In general, MEX Exchange is a platform that both novice and experienced traders alike would want to take into consideration as a potential choice. MEX Exchange has a powerful background and years of proven success in providing trading services. Additionally, it has developed a powerful technology base to provide trading, and it has enhanced its offer by providing a wide variety of assets to trade, a selection of account types, and educational resources. Therefore, MEX Exchange is an alternative that would be beneficial to think about for both novice and experienced traders alike.
Sites like MEX Exchange in the UAE
Here is a list of quality Forex, CFD, Stock and Crypto Brokers for new and professional traders living in the UAE:
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.