Forex Trading in Mexico - Top Brokers

Affiliate Disclosure
Affiliate Disclosure adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Our comprehensive guide to Forex Brokers in Mexico review includes the pros and cons of Forex trading in Mexico, outlines the most suitable trading strategies and a guide on how to select a Forex broker in Mexico. Traders should also consider Forex trading fees as explained below, which rank as one of the most important aspects when selecting Forex Brokers Mexico. Do you trade with a competitive broker? Find out by comparing it with the information provided in this review.

The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Best all around broker
High floating leverage + fast execution
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
ECN-style trading
Daily market research and Autochartist access
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
High level regulation in multiple jurisdictions
Impressive range of tradeable assets including vanilla options and gold options
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Trade 1,000+ financial instruments
Experience low, competitive spreads
Multiple funding and swift withdrawal options
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
High-quality education for beginners via Axi Academy, webinars, seminars, and tutorials.
Traditional account management via PAMM accounts & MT4 MAM module.

  • FXTM, Best all-around broker with high floating leverage and fast execution.
  • FP Markets, ECN trading with leverage up to 1:500.
  • AvaTrade, Highly regulated, choice of fixed or floating spreads.
  • Eightcap, Competitive pricing + excellent daily videos.
  • Axi, Spreads starting from 0.0 pips + leverage up to 1:500.


5.0/5 in this category
In Summary
Best all-around broker with high floating leverage and fast execution

FXTM is one of the Forex Brokers in Mexico with the lowest trading fees. The Advantage account offers raw spreads from 0.0 pips for a commission between $0.80 and $4.00 per 1.0 lot. A minimum deposit of $500 is required. With an average execution speed of 0.072 seconds and an average price improvement of 0.29 pips or $2.90 per lot, traders can potentially decrease costs further.

The proprietary FXTM Invest service, available alongside the embedded MT4/MT5 solutions, is a quality copy trading platform. Copy trading has expanded rapidly across Mexico due to the popularity of mobile trading, for which FXTM has developed its FXTM Trader app. Traders also get MT4/MT5 and the MT4 FXTM Pivot Points Trading Strategy plugin, actionable trading signals, and quality education for beginners.

  • Excellent commission-based Forex pricing environment and transparency

  • Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app

  • Quality market research and educational content for beginner traders

  • Proprietary copy trading platform, low minimum deposit, and high leverage

  •  No cryptocurrencies and limited choice of commodities

FP Markets

5.0/5 in this category
In Summary
ECN trading with leverage up to 1:500

FP Markets upgrades MT4/MT5 with twelve plugins, Autochartist, and offers services by Trading Central. Demanding algorithmic traders benefit from access to VPS hosting for low-latency connections. NDD order processing, no requotes, more than enough leverage and deep liquidity grant traders a cutting-edge trading environment. The commission-based cost structure means traders can access choice pricing (0 pips) with no markups on spread, commission is charged on volume at $6.00 per round lot, meaning trading fees are competitive, placing FP Markets amongst one of the leading Forex Brokers on the Mexico list.

Beginners can benefit from quality research, including actionable trading signals and educational content. FP Markets offers MAM/PAMM setups for account management services. Copy traders can use the proprietary FP Markets Copy Trading solution, Myfxbook Autotrade, Signal Start, and embedded MT4/MT5 copy trading services.

  • Choice of trading platforms and auxiliary trading tools

  • Very competitive cost structure and excellent asset selection

  • Low minimum deposit requirement and leverage of up to 1:500

  • Well-regulated and trustworthy

  • Availability of Iress geographically restricted


4.5/5 in this category
In Summary
Highly regulated, choice of fixed or floating spreads

AvaTrade landed on the Forex Brokers Mexico list due to its wide choice of trading platforms. Besides the web-based AvaTrade WebTrader, AvaOptions, and mobile app AvaTradeGO, traders get MT4/MT5 upgraded with the Trading Central plugin. AvaTrade additionally offers the MT4 Guardian Angel plugin, which provides an additional layer of protection and analysis by sending alerts and assisting with risk management and post-trade analysis. It also provides access to Capitalise AI, allowing traders to automate strategies in a code-free environment.

Copy traders can diversify via Ava Social, ZuluTrade, DupliTrade, and the embedded MT4/MT5 solutions. AvaTrade offers a reasonably priced commission-free cost structure, and beginners benefit from its spun-out SharpTrader Academy. The partnership program features 70,000+ partners from 150+ countries and 250M+ commission payouts for partners made too date

  • High-quality educational offering via SharpTrader

  • Excellent choice of trading platforms catering to various trading needs

  • Broad asset selection and cross-asset diversification opportunities

  • Well-regulated and trusted broker with oversight from a central bank

  • Trading costs competitive but nothing special


4.5/5 in this category
In Summary
Competitive pricing + excellent daily videos

Eightcap features Capitalise AI, which enables the automation of strategies in a code-free environment, one of the features making it an ultra-competitive candidate in our Forex Brokers in Mexico ranking. It also offers the dedicated cryptocurrency solution Cryptocrusher and 250+ cryptocurrency CFDs. Traders can manage portfolios in the MT4/MT5 trading platforms, and Eightcap connects to the active TradingView community with 30M+ members.

The MAM/PAMM module is available to licensed account managers, and the commission-based pricing environment features choice pricing from 0.0 pips for a commission of $7.00 per round lot. Demanding algorithmic traders benefit from VPS hosting for low-latency connectivity and 24/5 market access. Deep liquidity, high leverage, and excellent order execution statistics ensure clients have a competitive edge. Beginners get educational content, and a high-paying partnerships program exists.

  • Low minimum deposit and high leverage of up to 1:500

  • Competitive cost structure

  • Excellent technology infrastructure and seasoned management team

  • Daily research and quality educational content

  • Limited leverage in some areas


4.5/5 in this category
In Summary
Spreads starting from 0.0 pips + leverage up to 1:500

Axi maintains a cutting-edge trading infrastructure with an upgraded MT4 and competitive fees. Autochartist and the six-plugin MT4 NexGen package ensure a competitive edge. Axi accepts cryptocurrency deposits in BTC, ETH, LTC, XRP, XLM, USDT, and several popular e-wallets. Copy traders may rely on the embedded MT4 service, Myfxbook AutoTrade, or the proprietary Axi solution in partnership with London & Eastern LLP.

The fee-free in-house prop trading service Axi Select requires a minimum deposit and offers a 90% profit share to qualifying traders who can manage up to $1,000,000 portfolios. It places Axi among the best Forex brokers in Mexico.

  • No minimum deposit and high leverage for most international traders

  • Autochartist plugin for MT4 and API trading for algorithmic traders

  • AI-powered third-party trading analytics platform PsyQuation

  • Excellent trading costs and social trading plus educational resources in 24 languages

  • Limited asset selection

Get Started with Forex in Mexico

Beginners should consider the below steps before opening and funding a live trading account with one of the competitive Forex Brokers in Mexico listed in our comprehensive review.

Considering the below steps will help beginners minimize avoidable mistakes:

1. Forex trading is a highly skilled profession, in-depth education and training is important, and much material is available for free. Even traders seeking managed accounts or copy trading services must start with education, allowing them to recognize scams and frauds.

2. Traders should master trading psychology and understand the importance of leverage and its relationship to effective risk management, which is essential to success. Losing money is part of the educational process, but beginners should learn from their mistakes. Therefore, they should view losses as the price of their education.

3. A competitive edge and a trustworthy trading counterparty are paramount to the success of traders.

4. Successful traders must define and follow a suitable trading strategy and an appropriate risk management profile. Also important is understanding the impact of trading costs, using leverage intelligently, and having realistic expectations and annual goals. Education will assist traders in all aspects, making it a core element of Forex trading.

5. Since market events can create price action, break trends and cause an increase in volatility, profitable traders must be aware of current news and analyze possible price action, as they will reveal trading opportunities. A detailed economic calendar for planned data releases is necessary to be aware of potentially disrupting events.

6. Traders should not blindly trust third-party signal providers without conducting due diligence and testing them for several months in a demo account.

7. Mastering the use of passive orders such as ‘take profit’ and ‘stop loss’ is crucial for risk mitigation, this takes time and practice. Successful traders determine and place them with each order ticket and rarely adjust them as the trade unfolds. It represents an instance where traders should act without emotion.

How to Choose a Forex Broker in Mexico

Traders should follow our 12-point checklist below, which we used to compile our most competitive Forex Brokers in Mexico candidates.

Mexican-resident Forex traders should ensure their potential Forex brokers offer the following:

  • Regulation - A clean operational track record of more than ten years almost eliminates the risk of scams and fraud. Regulated brokers also segregate client deposits and offer negative balance protection.
  • Local-currency accounts - Brokers may offer the Mexican Peso as a deposit and withdrawal currency, but international ones do not support it as an account base currency. Therefore, US Dollar accounts, available at all brokers, are the most suitable choice.
  • Local payment methods - Bank wires and credit/debit card deposits using the Mexican Peso are widely available. Some brokers support localized options like BBVA Wallet and Mercado Pago which provide low-cost, fast, and secure financial transactions. Cryptocurrencies are another option to deposit and withdraw with providers that offer this as an option.
  • Spread sizes - During the most liquid trading periods, major currency pairs should not exceed spreads of 0.1 pips in a commission-based pricing model or 0.8 pips in a commission-free pricing environment.
  • Fees - Competitive trading fees should be a maximum of $6.00 per 1.0 standard lot and volume-based rebate programs available for high-volume traders to seek.
  • Products - A balanced Forex asset selection exceeds 60+ currency pairs. It ensures traders can diversify portfolios and use different strategies.
  • Asset diversity - Forex traders can generally achieve cross-asset diversification via commodities, index CFDs, and cryptocurrencies.
  • Customer service in native language - Spanish is the official language of Mexico, and most brokers maintain Spanish websites and employ Spanish-speaking customer service representatives.
  • Account type diversity - The two primary account types are commission-free and commission-based, plus sub-account option. Many brokers offer both. Specific account types may exist for investors, Islamic traders, copy traders, or managed account services.
  • Demo account - Unlimited demo accounts allow beginners to test trading conditions, seasoned traders to evaluate new strategies, algorithmic traders to bug-fix trading solutions and test EAs and copy traders to evaluate signal providers.
  • Mobile trading - Mexico ranks eighth globally in mobile usage, making mobile trading a popular approach for the Country. All brokers offer the MT4/MT5 mobile app, but some have developed high-quality proprietary alternatives.
  • Deposits/Withdrawals - Deposits are usually free of charge. Traders may pay withdrawal fees, including third-party payment processing costs and currency conversion fees.

Mexican Forex Trading Strategies

Trading with the right strategies, at the right time is essential to a profitable outcome. We have outlined the most tried and tested ones below, but every trader should define their own mix of strategies according to their preferences, personalities, and risk parameters.

Here are some Forex strategies Mexican-resident traders should consider:

  1. Copy trading: Since Mexico ranks eighth globally in mobile usage, copy trading using mobile phones has become very popular in Mexican Forex trading . Phones are ideal for copy trading, as it requires general knowledge of strategies and fund allocation rather than complex technical analysis. Traders should test signal providers for a few months in a demo account before committing capital and not rely on past performance statistics.
  2. Social trading: Many market participants use copy and social trading interchangeably, even some brokers, but they are different strategies. Unlike copy trading, social trading requires manual order placement and management. Like copy trading, it does not require technical analysis and charts but discussions with like-minded traders, sentiment indicators and plenty of reading, for which mobile apps are well-suited.
  3. MAM/PAMM trading: This strategy is for traders seeking traditional fund management, where they allocate funds to strategies and have managers handle the trading and managing of portfolios for a performance fee. It requires traders to analyze and test portfolio managers, but no technical or fundamental analysis is necessary.
  4. Scalping: Scalping is one of the most popular trading strategies and relies on a technologically intensive ultra-short-term approach. Traders remain in positions for a few seconds to a few minutes only, tend to keep their take profit and stop loss levels tight. Scalpers seek to profit from a few pips in price movement, hence the name scalping - as you are shaving the market closely. The usual basis for scalping strategies is to identify support and resistance levels and trade reversal bounces rejecting the levels.
  5. Day trading: Day traders usually close their positions at the end of the trading day. This removes the risk of holding positions when liquidity may be thin in overnight trading and eliminates swap rates on leveraged overnight positions, an often-overlooked trading cost.

Other Mexican Forex Trading Strategies are:

  1. Medium-term trend following: Traders often hold positions for days and use technical indicators to identify entry and exit points. It’s likely the strategy will incur overnight swap rate costs, which can eat into profits and holding trades comes with increased risk.
  2. Long-term position trading: This strategy relies heavily on fundamental data and is unsuitable for leveraged trading, a staple of Forex trading. Traders will often build positions over several months, mostly in one-directional trades, and those who want to deploy this strategy should consider doing so on an uncollateralized basis, where they execute without leverage, 1:1.

Mexican Forex Payment Methods & Trading Fees

All brokers on our competitive Forex Brokers Mexico list support bank wires and credit/debit card deposits. While most Mexicans have bank accounts with HSBC, Banamex, Banorte, BBVA México, or Santander, most local debit cards do not allow payments in foreign currencies. Since bank wires are costly and can take a few days to complete, Visa and Mastercard credit cards remain the most-used traditional Forex payment methods.

One of the fastest-growing Forex payment methods are e-wallets, where Argentinian-based Mercado Pago gains popularity, closing in on PayPal, but most Forex brokers do not offer them. Skrill and Neteller are available at most Forex brokers, offering Mexican residents the best e-wallet choices, but adoption is slow. Cryptocurrencies are another fast-growing Forex payment method, and more Forex brokers support it or are looking to do so in the future.

Here is an overview of common trading fees Mexican-resident Forex traders must be aware of:

Trading fees:

  • Spreads (the difference between the bid and the ask price of an asset)
  • Commissions (Forex traders pay a separate commission based on volume as a % amount of the trades nominal size)
  • Swap rates (charged on leveraged overnight positions)
  • Currency conversion fee (applicable each time the currency of the asset differs from the account base currency)

Non-trading fees:

  • Deposit fees (deposits are usually free of charge)
  • Withdrawal fees (few brokers penalize traders for withdrawals, but third-party payment processing fees may apply)
  • Inactivity fees (most traders never face them)
  • Currency conversion fees (for deposits and withdrawals in currencies that differ from the account base currency)

What Trading Instruments are Available in Mexico?

Mexico has no restrictions on trading instruments. Therefore, Mexican-resident traders can trade all available trading instruments their international brokers offer. These typically include Forex, commodities, cryptocurrencies, indices, equities, ETFs, and bonds.

Is Forex Trading Legal in Mexico?

Forex trading is legal in Mexico, and well-regulated international brokers handle retail Forex trading volume. Domestic banks cater to institutional and business clients.

When to Trade the Mexican Peso?

The most liquid trading time for the Mexican Peso is during the official operating hours of the Mexican stock market, which is Monday through Friday from 8:30 a.m. to 3:00 p.m. Central Standard Time (GMT-06:00). Trading Pesos at these times results in the lowest trading costs and the greatest number of trading opportunities.

Pros & Cons of Forex Trading in Mexico

Mexican Forex traders should consider the pros and cons of Forex trading in Mexico before opting for a live account with brokers from our Forex Brokers in Mexico list.

The pros of Forex trading in Mexico are:

  • Forex traders can transact 24/5, and the Forex market remains decentralized.
  • Forex trading has lower capital requirements than other asset classes.
  • Forex traders benefit from algorithmic trading, which accounts for 80%+ of daily volume
  • Copy trading can help traders diversify portfolios.
  • Mobile trading and account management services are available.
  • The Forex trading market offers passive income opportunities without actually trading Forex.
  • Frictionless financial transactions via low-cost deposit and withdrawal methods, including cryptocurrencies.

The cons of Forex trading in Mexico are:

  • The lack of quality education, despite its availability, creates a fundamental misunderstanding of Forex trading, its requirements, and possibilities.
  • Beginners may achieve a false sense of accomplishment if they rely on demo accounts as an educational tool, as they lack exposure to the trading psychology factor
  • Overtrading, frustration, and inefficient trading amid a lack of sufficient trading capital mixed with unrealistic trading expectations
  • Disrespect of Forex trading as a high-skilled profession can foster a poor trading mentality amongst inexperienced traders
  • The absence of adequate risk management results in avoidable, leveraged trading losses
  • Reliance on manual trading creates uncompetitive trading circumstances as 80%+ of Forex transactions are algorithmic
  • Inadequate hardware, no quiet place to trade, or using mobile apps for Forex trading rather than Forex copying can result in sub-standard trading conditions
  • Questionable Forex brokers and affiliates promote unrealistic trading performance expectations
  • Beginners fall victim to scams and fraud amid the lack of in-depth education

Bottom Line

Forex trading in Mexico, one of the fastest-growing Latin American Forex markets, continues to expand, especially mobile trading, where Mexico commands a global leadership role. Three Mexican regulators advise international brokers, but none actively regulates Forex trading. Therefore, the bulk of Forex trading volume occurs with well-regulated offshore brokers like the ones listed in our Forex Brokers Mexico review.

Copy and social trading strategies rank amongst the most popular ways to access the Forex market in Mexico, which requires portfolio management rather than trade analysis and placement. All the brokers mentioned in our Forex Brokers Mexico list cater well to both, with active trading communities, mobile apps, and numerous platforms and other valuable services.


Can I trade Forex in Mexico?

Yes, Forex trading is 100% legal in Mexico, and the Mexican Peso ranks among the most-traded emerging market currencies. Offshore brokers handle the bulk of retail Forex trading in Mexico.

Is it safe to trade Forex in Mexico?

Since most Forex trading occurs via well-regulated international brokers, Forex trading is safe in Mexico. Three Mexican regulators guide Forex brokers, but none actively regulate the Forex market.

How many Forex traders are there in Mexico?

It is impossible to know given no central recording of data, but Mexico has nearly 130 million citizens, and remittances play a significant role in the Mexican economy, trailing only automotive exports as a source of income. They expose many Mexicans to the Forex market, its fluctuations, and its impact on the quality of daily life.

Can you make money with Forex trading in Mexico?

Yes traders can make money with Forex trading in Mexico if they use the proper strategy and have the right mindset. It all begins with in-depth education, which is available for free online. Despite its availability many traders either skip or rush it. Therefore around 80% of retail Forex traders lose money when trading Forex and less than 2% earn a living from Forex trading.

Huzefa Hamid

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.