Best Forex Brokers in Mexico

Read our Advertiser Disclosure.
Contributor, Benzinga
April 5, 2024

Trading forex in Mexico is relatively free of limitations and legal restrictions, although you will still want to select a broker operating under strict oversight from a reputable financial regulator. 

Since not all forex brokerages have the same services and product offerings, you’ll want to make sure any broker you select will be adequate for your online trading needs before you make a deposit with them. 

Quick Look: Best Forex Brokers in Mexico

Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Forex Brokers in Mexico

Finding the best forex broker for you that services Mexican clients will depend on your unique situation and trading requirements. The list below provides some top broker choices based outside Mexico. Each of them is regulated by strict financial authorities in their local jurisdictions. 

1. Best for Fast Execution Speeds: Blackbull Markets

New Zealand-based BlackBull Markets is a multi-asset, forex and contract for difference (CFD) broker. Launched in 2014, this fintech company provides traders with an Electronics Communications Network (ECN) for quick and efficient asset trading.

BlackBull Markets offers traders an extensive range of more than 26,000 assets across six asset classes. Including forex, commodities, crypto, equities and indices. Users can trade on one of five trading platforms at competitive pricing. BlackBull Markets is licensed with tier-1 regulators and offers traders negative balance protection. Each trader has a dedicated account manager and can expect round-the-clock support.


  • 26,000+ assets across six asset classes
  • Choose your platform from one of five
  • Industry-leading spreads
  • Tier-1 regulated
  • 24-hour customer service
  • $0 minimum deposit
  • 1:500 leverage


  • No bond or exchange-traded fund (ETF) trading
  • Educational resources could be improved

2. Best for MetaTrader Users: Axi

  • Axi
    Best For:
    MT4 Traders
    securely through Axi's website

    Over-the-counter derivatives are leveraged products that carry a high level of risk to your capital. Trading is not suitable for everyone and may result in you losing substantially more than your initial investment. You do not own, or have any rights to, the underlying assets. You should only trade with money you can afford to lose.

Founded in 2007, the formerly named AxiTrader launched the Axi brand in 2020. Today the Australian forex and contract for differences (CFD) broker services over 60,000 clients in 100 countries across the globe. 

You don’t need a minimum deposit to open an Axi account and start trading. The CFD trading platform has a free demo account that you can use to try your hand at trading. You will have $50,000 in virtual currency to safely trade and hone your skills.

Axi is a fully digital and user-friendly forex and CFD trading broker operating on the MetaTrader4 (MT4) platform, a trading platform that connects to brokers. Axi offers user education and a copy trading facility while using artificial intelligence (AL) and machine learning (ML) to coach users on improving trades.


  • User-friendly MetaTrader 4 platform
  • Copy trading to learn from professional traders
  • No withdrawal/deposit fees
  • Low fees


  • Customer service 24/5
  • Only forex and CFD trading

3. Best for High Quality Trading Experience: Pepperstone

  • Pepperstone FX
    Best For:
    Trading Experience
    securely through Pepperstone FX's website

    Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Pepperstone is an Australian broker focused on providing international forex, CFD and cryptocurrency trading. Though U.S. traders currently cannot open an account with Pepperstone, the broker remains an affordable and comprehensive option for international traders. 

Pepperstone offers traders access to over 61 forex markets, over 60 CFDs for index funds and stocks and 5 cryptocurrencies. Leverage options with Pepperstone are extensive; you may qualify for up to 500:1 leverage when trading currencies and up to 5:1 leverage when trading cryptocurrencies, for example.

There are a few areas where Pepperstone can afford to improve. We’d love to see Pepperstone add its own trading platform in the future instead of relying entirely on 3rd-party platforms. We’d also love to see direct stock and fund purchase options in the future. Despite these flaws, Pepperstone remains a very strong choice for international traders.


  • Access to over 61 forex pairs and over 60 stock CFDs
  • Leverage available for both forex and cryptocurrency trading
  • Wide range of educational tools and courses that both beginners and experts can use
  • 24/7 customer service


  • No option to purchase stocks, bonds or mutual funds directly; only CFDs are available
  • Educational resources don't compare to other options

4. Best for Beginners:

    Best For:
    Market-Leading Spreads
    Disclaimer: 84% of retail CFD accounts lose money.

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.84% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. is an award-winning global contract for difference (CFD) broker offering more than 2,700+ tradable markets using instruments like CFDs, and spread bets for U.K. clients. Ideal for day traders, has an app available for both Apple and Android smartphones, and trading is always commission-free. With 24/7 customer service and a wealth of trading guides and educational materials, is a great CFD broker for novices and those with experience alike, although you’ll need to make sure the product you wish to trade is available in your particular location.


  • Zero commissions on CFDs
  • Competitive bid/ask spreads
  • 24/7 customer service
  • Intuitive mobile app available at Google Play and Apple App Stores


  • High-risk investments for retail traders
  • No leverage or fractional shares available in stockbroking accounts

5. Best for Low Deposits: Tickmill

Tickmill is an award-winning, multi-regulated investment firm offering trading in a plethora of asset classes including, CFDs in forex, precious metals, indices, stocks, commodities, cryptocurrencies and bonds.

Apart from offering various platforms, Tickmill caters to traders of all levels by providing competitive pricing, leverage up to 1:500 depending on the entity and client classification, dedicated support, exclusive market analysis and a wide array of trading tools and education.  This low-spread broker offers fast execution, several payment methods and no restrictions on trading strategies such as hedging or scalping.


  • Strongly regulated broker
  • Swap-free accounts available
  • Enables access to various markets and asset classes
  • Fast execution speed in milliseconds


  • Live chat is unavailable on weekends

6. Best for Educational Resources: AvaTrade

AvaTrade is a highly trusted and globally recognized brand known for its wide range of trading platforms for forex and CFD traders. They provide exceptional educational content, so much so they earned the Best in Class rating for Education and Beginners again in 2024.

A fully regulated broker with a presence in Europe, South Africa, the Middle East, British Virgin Islands, Australia and Japan. AvaTrade deals with mainly forex and CFDs on stocks, commodities, indexes, forex and cryptocurrencies. This brokerage is headquartered in Dublin, Ireland and began offering its services in 2006. It offers multiple trading platforms and earns mainly through spreads.


  • Controlled by regulatory agencies of multiple countries
  • Choice offered in terms of trading platforms
  • Support available in 14 languages and trading platforms in 20 languages
  • Practice/demo account available
  • Breadth of trading assets
  • Excellent educational resources


  • Transferring funds to the account may take up to five days; withdrawals could take up to 10 days

7. Best for Dedicated Forex Traders:

  • NON US
    Best For:
    Forex Trading in and Outside the U.S.
    securely through NON US's website

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    The products and services available to you at will depend on your location and on which of its regulated entities holds your account is a one-stop shop for forex traders. With a massive range of tradable currencies, low account minimums and an impressive trading platform, is an excellent choice for brokers searching for a home base for their currency trading. New traders and seasoned veterans alike will love’s extensive education and research center that provides free, informative forex trading courses at multiple skill levels. While is impressive, remember that it isn’t a standard broker.


  • Impressive, easy-to-navigate platform
  • Wide range of education and research tools
  • Access to over 80 currencies to buy and sell
  • Leverage available up to 50:1
  • Exclusive trading tools like TradingView
  • Client funds are segregated from the platform’s funds
  • Utilize and trade with TradingView charts


  • Cannot buy and sell other securities (like stocks and bonds)
  • Higher inactivity fees

Overview: Forex Trading in Mexico 

Mexico’s national currency is the Mexican peso that has the ISO 4217 code MXN. The peso is further divided into 100 smaller units called centavos. 

In its 2016 Triennial Central Bank Survey, The Bank for International Settlements (BIS) ranked the MXN 11th among other currencies in terms of average turnover. The BIS also noted that the peso was involved in 1.9% of average daily turnover in the forex market on a net-net basis in April 2016, down from 2.5% in April 2013.

With respect to forex market oversight in Mexico, regulation of online contract for difference (CFD) and forex brokers comes under the responsibility of the Central Bank of Mexico (Banxico) that oversees forex-related activities. 

Mexico is a participant in the Global Foreign Exchange Committee (GFEC) that was established in 2017 to bring together central banks and private sector forex market participants to promote a fair, liquid and transparent forex market. The GFEC also publishes a FX Global Code that lays out good forex market practices. 

In Mexico, the Mexican Foreign Exchange Committee (MFXC) was established to promote adoption of the GFEC’s FX Global Code among Mexican market participants. The MFXC maintains a public registry of companies on Banxico’s website that formally commit to following the Code.

Furthermore, the National Banking and Securities Commission or Comisión Nacional Bancaria y de Valores (CNBV) is responsible for promoting financial system stability and regulates and supervises financial institutions that include: banks, finance companies, brokerages and mutual fund firms. 

As one of the more sophisticated emerging markets and one of the largest Latin American nations, Mexico is an increasingly popular locale for forex trading. Although few brokers based in Mexico support forex trading, many of the global online forex brokers will accept Mexicans as clients. 

What to Look for in a Forex Broker

Any foreign forex broker should be reputable and submit to oversight by a strict official financial regulator, such as the Financial Conduct Authority (FCA) in the U.K. Also, if you live in Mexico, you will probably want to find a broker that accept Mexican peso deposits and offers a website and customer service in Spanish. 

In addition, any of the best online brokerage firms suitable for your needs will have these characteristics:

  • The ability to trade all major and minor forex currency pairs
  • A strong reputation among clients
  • An affordable minimum deposit
  • A maximum leverage ratio that suits your trading strategy and risk parameters
  • Competitive transaction fees and/or dealing spreads
  • Minimal order slippage and re-quotes
  • Convenient deposit and withdrawal methods 
  • Provides negative balance protection
  • Keeps clients’ money segregated

You’ll also want to check out the broker’s trading software to make sure it has all the features you want. Common features include charting capabilities, technical indicators, trading directly from charts, position management and a high-quality financial news feed. 

This can be done by opening a demo or practice account funded with virtual money. Many brokers offer a proprietary trading platform, in addition to supporting popular third party trading platforms like MetaTrader 4 and 5 (MT4/5), cTrader and NinjaTrader.

Final Thoughts on Forex Trading in Mexico

If you live in Mexico, most international brokers will accept you as a client if you can meet their initial deposit requirements and suitably identify yourself.  Many top brokers also have their websites translated into Spanish and provide Spanish-speaking customer service staff to assist you with questions and issues. They should also be able to translate your documents written in Spanish. 

Furthermore, you’ll want to choose a well-regulated online broker to trade forex through that keeps its own money separate from that of its clients for greater security, since that protects you in case of the broker’s insolvency. Some regulators also place restrictions on the maximum amount of leverage a broker can let you trade with, so keep that in mind if your trading strategy requires especially high leverage ratios.  

Looking for more resources? Check out some of the best Mexican stocks to keep an eye on, or Benzinga's top picks for the best forex brokers.

Frequently Asked Questions


Can you trade forex in Mexico?


Yes, you can trade forex in Mexico. Forex trading is a global market and individuals in Mexico have the opportunity to participate in it.


Do I need a license to trade forex?


Yes, you do need a license to trade forex. In most countries, forex trading is regulated and requires individuals or companies to obtain the necessary licenses and permits before engaging in such activities. This is to ensure that traders follow specific rules and regulations and that the market remains fair and transparent. However, the specific licensing requirements may vary depending on the jurisdiction you are operating in. It is important to research and comply with the regulatory requirements of your country or region before trading forex.

Get a Forex Pro on Your Side, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and fast, quality execution on every trade. 

You can also tap into:

  • EUR/USD as low as 0.2 with fixed $5 commissions per 100,000
  • Powerful, purpose-built currency trading platforms
  • Monthly cash rebates of up to $9 per million dollars traded with’s Active Trader Program

Learn more about’s low pricing and how you can get started trading with

About Jay and Julie Hawk

Jay and Julie Hawk are the married co-founders of TheFXperts, a provider of financial writing services particularly renowned for its coverage of forex-related topics. With over 40 years of collective trading expertise and more than 15 years of collaborative writing experience, the Hawks specialize in crafting insightful financial content on trading strategies, market analysis and online trading for a broad audience. While their prolific writing career includes seven books and contributions to numerous financial websites and newswires, much of their recent work was published at Benzinga.