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

• Best for Fast Execution Speed: Blackbull Markets
• Best for MetaTrader Users: Axi
• Best for High Quality Trading Experience: Pepperstone
• Best for Beginners: Capital.com
• Best for Low Deposits: Tickmill
• Best for Educational Resources: AvaTrade
• Best for Dedicated Forex Traders: FOREX.com

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Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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.

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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.

2. Best for MetaTrader Users: Axi

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.

3. Best for High Quality Trading Experience: Pepperstone

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.

4. Best for Beginners: Capital.com

Capital.com 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, Capital.com 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, Capital.com 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.

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.

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.

7. Best for Dedicated Forex Traders: FOREX.com

FOREX.com is a one-stop shop for forex traders. With a massive range of tradable currencies, low account minimums and an impressive trading platform, FOREX.com is an excellent choice for brokers searching for a home base for their currency trading. New traders and seasoned veterans alike will love FOREX.com’s extensive education and research center that provides free, informative forex trading courses at multiple skill levels. While FOREX.com is impressive, remember that it isn’t a standard broker.

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 11^th 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.

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