MEX Exchange Review South Africa

MEX Exchange Review South Africa

What is MEX Exchange?

According to a comprehensive research carried out in South Africa, MEX Exchange is a well-established financial trading firm in Australia since 2012 and paved its way to becoming one of the most regarded industry institutions. MEX Exchange offers its customers trading access through the advanced trading platforms on a range of instruments including Forex, Metals, Stocks, and CFD’s.

Note that MEX Exchange is part of a global group, MultiBank with offices in Sydney, Vienna, Los Angeles, Madrid, Frankfurt, Cyprus, and MEXFintech in Hong Kong. It has MEX Group Worldwide offices in Hong Kong, Beijing, MEX Asset Management (Austria) GmbH, Hangzhou, Tianjin, and Ho Chi Minh City. It is worth noting that MEX Exchange also delivers vast trading opportunities with tight pricing and powerful conditions. This exchange boasts of a wide product offering and unparalleled customer support. In fact, it claims to be the standout choice when it comes to choosing your financial services provider.

Is MEX Exchange Safe?

MEX Exchange as we previously mentioned is an Australian financial service firm that obliges fully to Australia’s laws and regulations. Note that Australia strictly regulates its financial firms and obliges to high capitalization along with a client’s protection thereby ensuring market integrity and healthy competition. ASIC is the competent authority in charge of performing control over financial firms. ASIC is a world-leading regulator in its sector. It is a bonus to learn that MEX Exchange is part of the MultiBank Exchange Group, a Global Financial Investment Group heavily regulated by the world’s recognized international rules for money management and operation of the trader’s accounts with the highest protection level. This involves segregation of the client accounts from the company’s funds, making it unreachable to the firm, also implementing strong security of transactions. With MEX Exchange, your investment is made secured by the set of rules put in place by the country legislations, protecting your interest and providing transparency overall trading process.

How MEX Exchange Operates

MEX Exchange permits high leverage ratios up to 1:500 for retail traders. MEX Exchange offers the trader two types of accounts that are designed to suit his/her style of trading. These are; Standard account with a spread only basis, and an ECN Account with commission charge per trade. MEX Exchange spread is specified by the account type you use. The Standard account with all costs included into spread, features spreads from 0.5 pips with no other costs, which is a good option for easy calculation. However, if you prefer to use the ECN account, you will get raw spreads starting from 0.0 pips but with a commission charge of $7.

MEX Exchange offers a selection of instant, simple and secure payment options for deposits and withdrawals. Here, all transactions are done though a Client Portal. You have the choice to choose a desired base currency, so money transfers will not incur additional conversion fees. Mostly, you may select payment through Skrill, e-wallet, China UnionPay, Wire or Bank transfer. You can as well pay through debit or credit card. Amazingly, MEX Exchange requires no deposit to start. That is to say, you may define the amount you want to start with, as a minimum is 0$ for Standard or ECN Accounts. Withdrawals are processed by simply completing the online form on the webpage. Interestingly, MEX Exchange does not charge any internal fees for deposits or withdrawals. However, payments to and from international banking institutions may attract intermediary transfer fees and/or conversion fees from either party which are independent of the MEX Exchange platform. The broker encourages clients to use our Client Portal for Deposit as it provides instant card funding.

Pros and Cons of MEX Exchange

Pros:

  • Good customer support
  • Wide range of markets
  • Lower spreads
  • Variety of trading tools
  • Good education and support

Cons:

  • High leverage
  • High deposit to open an account

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