Best forex brokers in Mexico
We checked which brokers let people living in Mexico trade forex: 5 of the 7 we follow do. XTB does not accept residents of Mexico, so XM leads.
By Broksal Team, investing in forex and CFD markets since 2017. Updated . How we test
How we score
Each broker gets five sub-scores out of 5:
Regulation and safety (30%), trading costs (25%), platforms and tools (20%), range of markets (15%) and ease of use (10%). The overall score is the weighted average, rounded to one decimal.
Availability is checked against each broker's published country lists. The ranking order is editorial and reflects our commercial agreements, so it does not always follow the scores. Full methodology
Advertiser disclosure
Broksal is free to use because some brokers pay us a commission when you open an account through our links. This can influence which broker we feature and the order in which brokers appear.
Commissions never change the facts we publish about regulation, fees or country availability, and they cost you nothing.
Top 3 forex brokers for Mexico
- 1
Our top pick in Mexico
XM
4.6MT4 and MT5 from a $5 deposit, with multiple account types
XTB is not available in Mexico
Forex CFDs MetaTrader 4 and 5 from a $5 deposit; the Ultra Low account averages 1.1 pips on EUR/USD with no commission.
- Minimum deposit
- $5
- Platforms
- MetaTrader 4, MetaTrader 5, XM app
- Entity for Mexico
- XM Global Limited — FSC (Belize)
- CFDs
- Yes
Show pros, cons and feesHide details
XM's MetaTrader platform on desktop and mobile, with one-click trading on EUR/USD. XM's EU site states that 75.12% of retail investor accounts lose money when trading CFDs with this provider. What we like
- Very low minimum deposit outside the EU
- MT4 and MT5 plus its own mobile app
- Accepts residents of a very wide list of countries
- Standard, Ultra Low and Shares account types
Watch out for
- Not available in the US, Canada, Israel or the UK
- Most non-EU clients are onboarded by an offshore entity with lighter protection
- Dormant account fee after 90 days without activity
Fees
The Standard account is commission-free with costs built into the spread; the Ultra Low account offers tighter spreads. Swaps apply on positions held overnight. A monthly dormant fee is charged after 90 days of inactivity.
Best for
MetaTrader users with small starting balances.
- 2
eToro
4.3CopyTrader and a social feed on a Nasdaq-listed platform
Forex CFDs About 1 pip on EUR/USD with no commission, and CopyTrader for following other traders.
- Minimum deposit
- Varies by country
- Platforms
- eToro web platform, eToro mobile app
- Entity for Mexico
- eToro (Europe) Ltd or regional entity — CySEC
- CFDs
- Yes
Show pros, cons and feesHide details
eToro homepage after the 2026 brand refresh, highlighting its Nasdaq listing (ETOR) and the new mobile app. What we like
- CopyTrader lets you mirror other investors' portfolios
- Listed on Nasdaq; FCA, CySEC and ASIC regulated
- Very easy app for stocks, ETFs and crypto
Watch out for
- CFD spreads are wider than at IC Markets or XTB
- Not available in Canada, Japan, India, Turkey and most of Africa
- Withdrawal and currency conversion fees on the USD account
Fees
CFD costs are in the spread (about 1 pip on EUR/USD), plus overnight fees on leveraged positions. Withdrawals from the USD account cost $5 and currency conversion is charged on non-USD deposits; eToro removed its inactivity fee on 28 May 2026.
Best for
Investors who want to copy other traders.
- 3
IQ Option
4.1A $10 minimum deposit and one of the simplest trading apps
Forex CFDs Forex CFDs on a very simple app from a $10 deposit; publishes only minimum spreads (from 0.8 pips).
- Minimum deposit
- $10
- Platforms
- IQ Option web platform, Desktop app, Mobile app
- Entity for Mexico
- IQ Option international entity — Offshore entity
- CFDs
- Yes
Show pros, cons and feesHide details
IQ Option EU homepage (CySEC licence 247/14): CFDs on forex, stocks and crypto, with leverage up to 1:30 on forex for EU retail clients. What we like
- $10 minimum deposit and a reloadable demo account
- Very easy proprietary platform on web, desktop and mobile
- CySEC regulated entity for EEA clients
Watch out for
- No MetaTrader, limited research tools
- Not available in the US, UK, Canada, Australia and several EU countries
- Clients outside the EEA are served by a lightly regulated entity
Fees
CFD costs are built into the spread, with overnight funding on leveraged positions. An inactivity fee is charged after a period without trading.
Best for
Beginners who want a very simple app and a small first deposit.
Also available in Mexico:
IC Markets 4.6
Interactive Brokers 4.7
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Each broker publishes its own current loss percentage on its website.
Forex from Mexico: the rules
Brokers usually serve Mexico through offshore entities where forex leverage can be far higher than in the EU. Higher leverage magnifies losses as much as gains. Locally, financial services are supervised by the CNBV.
Best time to trade currencies from Mexico City
Major currency pairs are usually most liquid while London and New York are both open: 07:30–09:30 local time (UTC−6, early October 2026). The forex week runs from Sunday 15:00 to Friday 15:00 local time.
All 7 brokers we review, checked for forex in Mexico
| Broker | Status | Access | Entity for Mexico |
|---|---|---|---|
| XTB | Not available in Mexico | — | — |
| XM | #1 in this ranking | Forex CFDs | XM Global Limited — FSC (Belize) |
| IC Markets | Available | Forex CFDs | Raw Trading Ltd (IC Markets Global) — FSA (Seychelles) |
| Interactive Brokers | Available | Spot forex and CFDs | Interactive Brokers LLC / regional affiliate — Top-tier regulators |
| Freedom24 | Not available in Mexico | — | — |
| IQ Option | #3 in this ranking | Forex CFDs | IQ Option international entity — Offshore entity |
| eToro | #2 in this ranking | Forex CFDs | eToro (Europe) Ltd or regional entity — CySEC |
Forex rankings in countries bordering Mexico
| Country | Brokers offering forex | #1 |
|---|---|---|
| 🇧🇿 Belize | 4 | XM |
| 🇬🇹 Guatemala | 4 | XM |
| 🇺🇸 United States | 1 | Interactive Brokers |
Frequently asked questions
What is the best forex broker in Mexico?
XM, in our ranking. MetaTrader 4 and 5 from a $5 deposit; the Ultra Low account averages 1.1 pips on EUR/USD with no commission. eToro and IQ Option complete the top 3.
Which brokers offer forex to residents of Mexico?
Of the brokers we review: XM (forex cfds), IC Markets (forex cfds), Interactive Brokers (spot forex and cfds), IQ Option (forex cfds) and eToro (forex cfds).
What are the rules for forex in Mexico?
Brokers usually serve Mexico through offshore entities where forex leverage can be far higher than in the EU. Higher leverage magnifies losses as much as gains.
When is forex most liquid in Mexico?
Usually 07:30–09:30 local time, while London and New York are both open (early October 2026 times).
Which forex broker has the lowest costs?
On a one-lot EUR/USD trade, Interactive Brokers was cheapest in our fee comparison, followed by XTB and IC Markets at about $8. For small trades the $2 minimum commission at IBKR makes XTB cheaper.
Availability last checked 6 October 2026. Brokers change their country lists without notice; the broker's sign-up form is the final word.