Independent Review MEX Group

Founded in 2005
Headquarters in Hong Kong

Introduction and Comments

Websites:, and

MEX Group is one of the largest forex and CFD brokers in the world, with offices in 15 countries, and clients located all around the world. In addition to the broad ranging presence of MEX Group they are also regulated in a number of countries, including Australia and Germany.

Clients of MEX Group have the ability to trade in forex, metals, commodities, indices, and individual shares.

It is estimated that the turnover at the MEX Group exceeds $5 billion, and it is fully backed by over $322 million in capitalization. Few brokers can claim such a strong financial backing.

MEX Group began over a decade ago in 2005 in the U.S., and has since spread across the globe with clients choosing to trade through them due to their extensive features, excellent customer service, and dedicated commitment to client service. These characteristics have also led to numerous industry awards, including:

  • Best Forex and CFD Broker 2019 (Jordan Forex Expo)
  • Financial Services Provider of the Year 2019 – Asia (Global Brands Magazine)
  • Best FX and CFD Broker – Europe and Asia 2019 (International Investor)
  • ECN Broker of the Year 2019 – Europe (International Business Magazine)
  • Best Education Provider 2019 (FX Daily Info)
  • And many more…
MEX Group Introduction

MEX Group operates under the MEX Exchange, MEX Clearing, and MultiBank FX International brands globally. No matter which brand clients trade through they enjoy tight spreads, a stable trading platform, regulated broker conditions, and the benefits of trading with an award winning broker.

MEX Group uses the MetaTrader 4 platform exclusively, which ensures clients have access to an award-winning trading platform. The biggest differences in trader accounts will be based on which jurisdiction they choose for regulation, and which account type they use.

The company offers both a true ECN and a dealing desk model. The ECN model gives clients access to 20 different interbank dealing prices, while the dealing desk allows clients to use ExpertAdvisors for automated trading,and engage in scalping behavior.

MEX Group Comments

Quick Look

As part of the research process to write this review, we set up a demo account with MEX Group and accessed their website and their mobile trading platform. The process of opening a demo account with MEX Group was quick, taking less than 15 seconds to fill in the form. The account credentials were emailed immediately and we were able to access the trading platforms without delay.

The mobile, web and desktop platforms are all the familiar MT4 interfaces, with all the power behind them that traders have come to appreciate from the MT4 experience. The connection to the MEX Group servers was speedy, indicating no delays in order placement.

Obviously MEX Group is concerned with giving an excellent trading experience, and traders of all levels will be pleased with the MT4 platform. Beyond that we would have to choose between different account types based on whether ECN or dealing desk execution is more important.

MEX Group Quick Look

Regulations & Licenses


MEX Group is regulated and licensed in numerous jurisdictions across four continents, giving it a true sense of authenticity and reassuring traders that they have representation if needed.

Regulations and licenses are as follows:

  • MEX Group operates as MEX Exchange in Australia and is known as MEX Exchange Pty Ltd. The company is authorized and regulated by the Australian Securities and Investments Commission (ASIC) with the Australian Financial Services License (AFSL) number 416279.
  • In Germany MEX Asset Management GmbH is authorized and regulated by the German Federal Financial Supervisory Authority (BaFin) with license number HRB73406.
  • MEX Asset Management GmbH (Austria) is the Austrian branch of MEX Asset Management and operates in Austria under the Austrian Financial Market Authority (FMA) license number 491129z.
  • MEX Spain is the Spanish branch of MEX Group and is licensed and regulated by the Spanish National Securities Market Commission (CNMV) under registration number 120.
  • Multibank FX International Corporation is authorized and regulated by the Financial Services Commission (FSC) of the British Virgin Islands with license number SIBA/L/14/1068.
  • MEX Wealth Management is the Cayman Islands subsidiary of MEX Group and it is regulated by the Cayman Islands Monetary Authority (CIMA) under reference number 1425303.
  • MEX Clearing Limited is the subsidiary in the United Arab Emirates and is registered in the Ras Al Khaimah Free Trade Zone (RAK) with registration number IC/2993/10.
MEX Group Regulations & Licenses


As you might expect from a broker with a global presence, there are a number of languages that the MEX Group represents on its websites. The site has one of the smaller numbers of languages, with English, Chinese, and Taiwanese the only languages there. The website has far more languages with English, Spanish, Italian, Russian, Arabic, Vietnamese, Bahasa Indonesia, Bahasa Melayu, Tagalog, and French. The site has just English, German, and Chinese as available languages.

The MT4 platform is available in a huge number of languages, 39 at last count. Customer support is available in all ten of the languages represented on the website.

Account types

Retail Trader Accounts

MEX Group has three different retail trading account types: the ECN Pro, the Multibank Pro, and the Maximus. The difference in the accounts is in the spreads and commissions, as well as the minimum deposits. MEX Group also offers a demo account to practice trading and hone strategies, and an Islamic account, or swap free account, which doesn’t rollover interest on overnight positions since this is against the Islamic faith.

There are also three different accounts based on ownership:

  • Individual account - account is owned by an individual;
  • Joint account - account is owned by two or more individuals;
  • Corporate account - account is owned by a legal entity.

Each of the account types provides leverage up to 1:500 and has over 45 forex pairs available. They also claim to have no slippage, no requotes, and no rejections.

MEX Group Retail Trader Accounts

ECN Pro Account

The ECN Pro account features a true ECN experience, with price feeds from 20 interbank sources and spreads as low as 0.1 pips. Traders looking for the tightest spreads and best executions will inevitably choose the ECN Pro account. The downside to this account type is the high minimum deposit of $5,000 and the commissions charged. The ECN Pro account allows for the use of Expert Advisors, and clients receive free VPS, MAM and PAMM accounts, making this an ideal account for automated trading.

Multibank Pro Account

The Multibank Pro account does away with commissions, but spreads are higher, starting at 0.8 pips for the EUR/USD pair. It’s also an ECN platform, but has an account minimum of just $1,000. Multibank Pro clients also receive free VPS, MAM, and PAMM accounts and are able to use Expert Advisors freely. This account type is a good compromise between ECN trading and lower capital commitments.

Maximus Account

The Maximus account also has no commissions, and with a $50 minimum deposit is the most accessible for nearly anyone. The downside to this standard account is the higher spreads, with the EUR/USD starting at 1.5 pips. Maximus account holders can access free VPS, MAM, and PAMM accounts and are able to use Expert Advisors freely.

Demo Account

All traders are able to open a demo account at MEX GROUP and practice trading without risking any real money. These demo accounts begin with $5,000 in virtual funds and traders can test their strategies on both the desktop, mobile, or web-based versions of MEX Group’s MT4 platform. Registering for a demo account took me less than 30 seconds.

Social Trading

The social trading account is a new initiative from MEX Group that allows you to sign up as an investor and copy the trades of others into your own account. You can also register as a signal provider, where others copy your trades, and you receive a small commission for every subscriber to your trades. Watching the trades of successful signal providers can be one way to learn how to trade successfully.

Fees, Costs & Spreads

The good news is that MEX group has no deposit of withdrawal fees, and no commissions for the Multibank Pro and Maximus accounts. There is a commission charged for the ECN Pro account, and it varies based on the asset being traded. The commission charged for ECN Pro is

  • $3 per lot per trade for forex
  • $3 per share charged only for opening a position for stock CFDs, the closing is free.

There is also an extremely high $60 per quarter inactivity fee that is charged after three months of inactivity on the account.

The table below gives an idea of what the spreads are like for each of the three account types:

MEX Group Fees, Costs & Spreads

Deposits & Withdrawals

MEX Group charges no deposit or withdrawal fees, although your own bank or payment processor may have their own fees. MEX Group accepts bank transfers and credit cards for deposits, as well as the following electronic wallets: Skrill, Neteller, Paytrust, Perfect Money, Help2Pay, and Payment Asia. For withdrawals the same channels are available with the exception of Help2Pay and Payment Asia.

When you open your account it defaults to USD, but you can contact customer service to have the base currency changed to any of these seven: GBP, EUR, JPY, CHF, AUD, NZD, CAD.

MEX Group Deposits & Withdrawals

In all cases you can only deposit from and withdraw to an account that is in your name.

Trading Platforms

MEX Group uses MetaTrader 4 as its trading platform, and clients can use the web-based version, the desktop version, and the mobile version. MetaTrader 4 is an award-winning trading platform, with powerful technical analysis tools, and the ability to create or add custom indicators, and automated trading algorithms known as Expert Advisors.

Assets Available

MEX Group offers the following asset groups: forex, metals, shares, indices, commodities, and cryptocurrencies. Those asset groups include over 45 different forex pairs, gold/silver, shares of 1,000+ global companies, 12 different index contracts, crude oil/natural gas, and four different cryptocurrencies.

Order Types

Traders can choose from four types of orders: limit orders, market orders, stop loss orders, and trailing stop orders. Orders are able to be changed or cancelled at any time before they are filled.

Bonuses and Promotions

Bonuses and promotions are as common as they once were, but MEX Group still makes use of them. The following bonuses and promotions are available based on the type of account held:

Refer A Friend Bonus: Traders and their friends can receive a bonus from $100 to $400 each. The bonus is based on initial deposit amount, and specifies the friend must trade a specific number of lots without making a withdrawal before the bonus is paid out.

100% Deposit Bonus: The 100% deposit bonus is only for those using the Maximus account. The maximum bonus is $20,000 and the minimum initial deposit is $200, although subsequent deposits can be any size. This bonus can only be used to trade forex and gold, and is non-losable and non-withdrawable.

20% Bonus: This bonus is also only for Maximum account holders and new clients. The maximum bonus is $5,000 and it is only available for 3 months after which it is subtracted from the account. It will also be removed from the account is a withdrawal is made. The bonus is non-losable and non-withdrawable.

Imperial Bonus: The Imperial Bonus is only applicable on first deposits and equals about 10% of the initial deposit, up to $5,000. There are trade requirements to be met before the bonus is withdrawable. The bonus is only available for three months and will be immediately removed if a withdrawal is made.

Notification and Alerts

It is not possible to set alerts on the web and mobile versions of the MT4 platform, only the desktop version. However it is possible to set the notifications on the desktop platform and then add a mobile push notification to get the alert on your mobile device. It’s a bit round-about, but it works.

MT4 alerts are price and time based only, so there are no news or economic event alerts. They are easy to set, and the alerts tab can even be accessed directly from the chart.

Risk Management Tools

The best risk management tools available when trading through MEX Group are the stops that are available to all clients. These are the best protection for your trades and your account.

Trading Tools and Analysis

MEX Group also makes the AutoChartist MT4 plugin available to all clients. The Autochartist MT4 Plugin provides real-time intraday market scanning that tracks all symbols from a single chart, giving traders the tool necessary to make informed trading decisions through quality indicators and automatic chart pattern recognitions.

AutoChartist Features:

  • Technical Indicators - Receive automatic notifications when Chart Patterns have been identified, and be informed of forecasts in price levels.
  • Performance Statistics - Review and analyze past performance to see which trade setups did or did not work.
  • Volatility Analysis - Gain insights on expected market volatility so you can gage the right take profit and stop-loss levels.
  • Risk Calculator - Calculates your optimal trading volume when you enter the amount of risk you are willing to take on a trade.

Education and Training

You’ll find no education center at the MEX Group website. There are no training videos, no trading guides, really no educational materials at all. The broker does send a daily email that provides technical and fundamental analysis, as well as covering some important economic data and its impact on markets. If you’re looking for material that will teach you how to be a better trader, or how to conduct your own technical and fundamental analysis you’ll need to look elsewhere.

Customer Support

Customer support can be reached through their online chat feature, or via email and telephone. I found the customer service staff to be knowledgeable and quick to respond, and it is said to be multi-lingual, but no mention of which languages might be supported. One would presume that all of the local phone numbers provide support in the local language.

MEX Group Customer Support

One downside is that support is only available 5 days a week, but they are available 24 hours a day during those 5 days. It wasn’t clear from the website what time support begins and ends each week.

Email support was obviously slower than online chat, but we received answers to our questions within 24 hours.

Independent Opinion & Rating

The MEX Group is one of the largest CFD brokers in the world, with nearly $5 billion in turnover, and over $300 million in paid-up capital. They have been providing their services since 2005 as MEX Group.

Based on our tests we believe trading with MEX Group would be suitable for most traders, although beginners may have a bit of a learning curve with the platform if they haven’t used MetaTrader 4 previously. However the existence of a demo account can easily get past that limitation as prospective new clients have the opportunity to learn the platform without risking their own money.

MEX Group certainly has a large number of awards, and a good reputation. Some traders really appreciate the bonuses available, while others like the trading contests and the newly added social trading platform. We’re not sure gimmicks like these are necessary, but do acknowledge their popularity.

The number of assets available could be better, although the number of stocks available is impressive, and the recent addition of cryptocurrencies is a step in the right direction. What’s more disappointing is the lack of educational materials, or anything that helps with risk management or trading knowledge. We also miss the inclusion of news and economic data, and notifications based on anything other than price.

MEX Group is well regulated, including regulation by one tier-1 body. This is enough to reassure us that the broker is trustworthy and working with the best interests of its clients.

If you can get your news and education elsewhere MEX Group is going to suit your needs well, especially if you’re looking for tight spreads and low fees on most aspects of trading and account maintenance. MEX Group is satisfactory for most independent traders.

Contact us directly

Contact us directly for further inquiries about our products and services.