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Best Forex Brokers in Mexico

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

A Look at 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 Mexican 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.

The 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. 



Spreads start as low as $1 But vary based on trading volume

Best For
  • Forex traders located in the United States
  • MetaTrader 4 users
  • Beginner forex traders
  • Active forex traders

FOREX.com is the top-ranked U.S.-based forex broker when it comes to client assets. It is regulated by the National Futures Association (NFA), as well as the Commodities Futures Trading Commission (CFTC) within the U.S. 

FOREX.com also submits to financial regulation in the U.K., Japan, Canada, Australia, Singapore, Hong Kong and the Cayman Islands.  

You will need at least $250 to open an account at FOREX.com, and you can start trading in micro-lots if you wish to keep initial transactions small. The broker keeps client funds segregated from its own money and only allows traders to use a maximum leverage ratio of 50:1 due to U.S. restrictions.  

FOREX.com provides a proprietary trading platform, although you can also use the popular MT4/5 platforms from MetaQuotes, as well as NinjaTrader. Desktop, web-based and mobile trading options are offered.  

Read Benzinga’s full FOREX.com Review

FXTM (ForexTime)

FXTM is based in Cyprus and also has offices in the U.K. and South Africa. The online broker will accept Mexican clients and submits to regulation by CySEC in Cyprus, the FSCA in South Africa’s FSCA and the FCA in the U.K.

You can open an account at FXTM with just $10 for a Cent account or $100 for a Standard account, although the broker only offers rather modest leverage ratios of 30:1 for major currency pairs and 20:1 for minors. FXTM also lets you use the popular MT4/5 platforms for trading that have desktop, Web and mobile versions.

FXTM lets you trade hundreds of different assets, including forex pairs, precious metals, energy commodities, stock indices, and cryptocurrencies. FXTM also has strong customer service support and a website translated into Spanish, in addition to providing various educational materials that would suit less-experienced traders. 


XM is based in Cyprus and has offices in the U.K. and Australia. It submits to regulation under CySEC, the FSA and ASIC. The broker also offers negative balance protection, and it keeps clients funds segregated from its own.

You can open an account with just $5 at XM to trade in a wide range of forex currency pairs, in addition to precious metals, stocks and energy commodities. The broker also supports the popular MT4/5 platforms and the MT4 MultiTerminal platform that lets you manage multiple accounts using the same interface. Web, desktop and mobile versions are available.

XM allows you to use leverage up to its impressive maximum ratio of 500:1, and you can trade in micro-lots if you want to start small or fine-tune position sizes.


FXPro is a No Dealing Desk (NDD) broker based in London with offices in South Africa, Cyprus, Dubai and the Bahamas. FXPro submits to an oversight in each of these jurisdictions, with its regulators include the FCA, FSCA, CySEC, the DFSA and the SCB. 

FxPro offers a website translated into Spanish, and you’ll need to make a deposit of at least $100 to open an account with FxPro that will have the benefit of negative balance protection. You can also trade in micro-lots and use leverage of up to 500:1 on forex trades less than 100 lots in size. 

When it comes to trading platforms, FXPro offers its proprietary FxPro Markets software and cTrader. It also supports MT4/5 that has mobile, web-based and desktop versions and allows automated trading.


HotForex is based in Cyprus and has offices in the U.K., South Africa and Dubai. The broker submits to regulation by CySEC, the FCA, the FSCA and the DFSA in their respective jurisdictions.

You need an initial deposit of just $5 to open an account with HotForex, and this broker excels when it comes to its maximum leverage ratio of 1,000:1 for forex trades in major and minor currency pairs. 

HotForex also has its website translated into Spanish and lets Mexican residents trade forex pairs, bonds, cryptocurrencies and spot and futures contracts on commodities like metals, energy products and softs. CFDs on stock indices and high-cap stocks are also available to trade in, including Alphabet (GOOGL), Facebook (FB) and Apple Inc. (AAPL).

HotForex supports the MT4/5 trading platforms that have desktop, mobile and web-based versions. The broker also offers its proprietary FIX/API platform to clients who can afford to make an especially large initial deposit of $200,000. 

Final Thoughts

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.

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