The Verdict
MEXEM is an FCA-authorised UK investment broker that gives clients access to Interactive Brokers UK’s trading infrastructure. MEXEM provides onboarding, pricing and client support, while custody and execution are handled through IBUK.
It may be a strong option for confident, self-directed UK investors who want broad market access, advanced tools and competitive pricing. It may not be suitable for complete beginners, investors looking for advice, or customers who want a managed portfolio.
Through MEXEM, you’ll get access to global markets through Interactive Brokers (UK) Ltd’s institutional-grade execution platform, with access to UK, US and international shares, ETFs, bonds, mutual funds, warrants and more. Availability depends on account type and client permissions.
As a UK investor, you’ll also get access to a Stocks and Shares ISA and Junior ISA as well as the General Investment Account, with zero platform or custody fees and £0 commission on US stock trades. That makes this a potentially very low cost option.
The ‘IBKR Campus’ provides a comprehensive library of free educational resources to help you get to grips with the platforms, products and markets on offer, although it should be stated that this is a platform for experienced or ambitious traders rather than outright beginners.
This is where MEXEM will fall short for some: it is a complex platform. The ‘Trader Workstation’ interface, in particular, requires a steep learning curve, and complete beginners may find the experience overwhelming compared to simpler alternatives.
There is also no copy trading or social investing functionality, and the platform does not support MetaTrader 4 or 5.
But, for active, cost-conscious UK investors who want genuine global market access, a competitive ISA, and top-tier tools, MEXEM is a serious option to consider.
You do need to be the right kind of investor to get the most from it, but for those who are, it is one of the most capable platforms available in the UK market.
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Reasons to use
- £0 trade commission on US stocks
- Access to Interactive Brokers’ global trading infrastructure
- No platform, custody or inactivity fees
- Access to 160+ markets across 36 countries
- Multiple platform options including IBKR Desktop, TWS and mobile apps
- Professional-grade research, trading tools and advanced order types
- Low FX conversion fees compared with many traditional UK investment platform
- More personalised onboarding and support than opening directly with IBKR
- FCA regulated. Client assets are held through Interactive Brokers (UK) Ltd and protected by the FSCS up to £85,000, subject to eligibility rules
Reasons to avoid
- Advanced platforms such as TWS may have a learning curve for newer investors
- Designed primarily for self-directed investors rather than passive robo-investing
- UK stock trades are charged at £2 per trade on ISA accounts.
- No integrated social trading or copy-trading features
- Investors looking for fully managed or ready-made portfolios may prefer a more simplified investing platform
Fees
ISA account: £0 per US trade, £2 per UK trade, €0 per EU trade 0.25% FX conversion fee.
GIA (Investor account): US stocks from $0.004 per share (minimum $0.80 per order), UK and EU stocks from 0.04% per trade (minimum £0.80 / €0.80 respectively). FX conversion fee 0.002% (minimum $2 or equivalent). No account, platform, custody or inactivity fees. Full tariff available at MEXEM UK Pricing
Zero platform fees, zero custody fees and zero inactivity fees apply to both account types.
ISA and Junior ISA allowances, tax treatment and eligibility rules can change. Please check the latest rules before opening or funding an account.
Leverage
Eligible MEXEM clients can apply for a margin account through Interactive Brokers (UK) Ltd. Margin requirements and leverage vary depending on the product, market and client classification. Margin trading involves significant risk and is not suitable for all investors. Full details are available on the IBUK margin page.
Margin trading, options, futures, forex and other complex products carry additional risks and are not suitable for all investors. You should only use these products if you understand how they work and can afford the risks involved. If you are unsure whether an investment or product is suitable for you, you should seek further information and make sure you understand the risks involved before investing.
Funding Your Account
MEXEM supports 29 currencies. This means UK investors trading in USD, EUR or other currencies can potentially hold funds in the relevant currency and avoid repeated FX conversion costs. FX conversion is charged at an ultra-low rate of 0.002% (although there’s a minimum $2 or equivalent fee per transaction) for GIA accounts, and at 0.25% per conversion for ISA accounts. These fees may be competitive depending on the products you choose, your trading activity, currency conversion needs and account type.
Remember, fees and charges may vary depending on your account type, the investments you choose, the market you trade on, currency conversion and your trading activity. Please check the latest MEXEM fee schedule before opening an account.
Reasons to use
- £0 commission on US trades
- No platform / custody fees
- Ultra-low FX (currency conversion) fees in General Investment Account
- Zero inactivity fees
- Fractional shares available
- No minimum deposit
Reasons to avoid
- £2 per UK trade within ISAs
- No interest paid on uninvested cash
- 0.25% FX conversion fee in ISA
Trading Platform
MEXEM gives clients access to several platforms suited to different levels of experience and trading style. It uses Interactive Brokers' infrastructure with a UK-focused experience.
It is worth noting upfront that MEXEM does not support MetaTrader 4 or MetaTrader 5, so if you are an MT4 or MT5 fan, you will need to adapt to an alternative to trade on MEXEM.
MEXEM offers access to;
MEXEM App Trading skill level: Beginner to Intermediate
MEXEM's own mobile app allows you to invest from anywhere, with a clean interface suited to investors who want straightforward access to global markets from their phone.
MEXEM Lite Trading skill level: Beginner
A simplified version of the MEXEM app with a focus on ease of use. A good entry point for investors new to the platform who want to start simply before progressing to more advanced tools.
IBKR Desktop Trading skill level: Beginner to Intermediate.
IBKR Desktop is Interactive Brokers' next-generation desktop application, launched in 2024. It combines the most popular features of TWS in a cleaner, more intuitive interface, with the same execution and pricing as the rest of the IBKR suite. Available for Windows, Mac and Linux. For most retail investors who prefer a dedicated desktop application, IBKR Desktop is the recommended starting point.
Trader Workstation (TWS) Trading skill level: Intermediate to Advanced
IBKR’s flagship desktop platform is built for active traders who need advanced tools, including complex order types, algorithmic trading, options strategies, risk analysis, and API access. However, the platform is complex and can be difficult to learn. For most retail investors, IBKR Desktop is the better place to start, with TWS only worth using if you genuinely need its more advanced trading features.
Watch TWS
A companion tool that keeps you connected to real-time market alerts and account activity at all times.
Client Portal Trading skill level : Beginner to Intermediate
A clean, web-based platform accessible from any browser, requiring no software installation. It covers portfolio management, order entry, account reporting and research. A good option for less active investors who do not need the full power of TWS.
Demo Account
MEXEM clients can open a paper trading (demo) account to practise strategies and test the platforms using virtual funds before committing real funds.
This is a really useful feature if you’re an investors who wants to familiarise yourself with TWS or the Client Portal before going live.
MEXEM offers an impressive range of trading and execution tools across all account types. You can spot market opportunities, analyse results and manage your account with real efficiency.
Order Types
Clients using Trader Workstation have access to 100+ order types and algos, from simple limit orders to complex algorithmic trading strategies. Algorithmic order types are available from leading algo providers including Fox River, Jefferies and Quantitative Brokers (QB).
SmartRouting
MEXEM uses IBKR's SmartRouting technology to automatically seek the best available prices across exchanges and market centres globally in real time, which can deliver meaningfully better execution prices than single-venue routing.
Risk Management Tools
MEXEM's trading platforms give you the tools to measure, manage and model risk across your entire portfolio. You will have access to Risk Navigator, which measures your risk exposure across multiple asset classes globally.
Reasons to use
- Range of interfaces
- Top-tier, advanced trading platforms
- Web, browser and mobile app options
- Ideal for active, experienced traders and investors
- 100+ order types supported
- Algorithmic trading
Reasons to avoid
- Unsuitable for absolute beginners
- No MetaTrader 4 or MetaTrader 5
Account Opening
To open a MEXEM account, you will be asked more detailed questions than most standard UK investing apps. You will be asked about your employment, income, and investing experience and knowledge. This is because the platform offers complex instruments and advanced trading features, and the onboarding process is designed to match you with the products you are equipped to handle. Answer honestly; the questions are designed to protect you, and you can apply for additional instruments at any point in the future.
You will choose between a cash account and a margin account. A cash account is a standard investing account where you fund trades with settled funds. A margin account allows you to trade with leverage, but requires you to demonstrate that you are an experienced investor with a high risk tolerance and a clear understanding of the risks involved. There is no minimum deposit requirement for the GIA or ISA accounts.
You can also choose to be assessed for Professional or Elective Professional classification if you believe you qualify, which unlocks higher leverage limits.
MEXEM's support team is available to assist throughout the account opening process, which is a practical advantage over going direct to IBKR.
Closing your account
You can close your MEXEM account by either liquidating your positions and withdrawing your funds, or by transferring your positions to another provider, subject to compatibility. There is no fee for closing your account, and it can be managed from the Account Management section of the Client Portal.
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Research
MEXEM offers an impressive menu of research tools via the IBKR set-up, with technical indicators including Bollinger Bands, SMA and EMA available across the platforms. The depth of tools available varies depending on which platform you use; the more advanced the platform, the greater the number of tools accessible.
Third-Party News and Research Tools
There are more than 200 different third-party providers of research, news and market commentary to choose from. Many are provided free of charge, though some premium packages carry a monthly subscription cost. Even with the free packages, you will not be lacking when it comes to analyst ratings, earnings data, sentiment feeds and news. Social sentiment scores, insider ownership data and short interest information are all available.
For professional and advanced traders, this means you won’t be left wanting. For the less experienced, the volume of tools can be overwhelming, and a simpler broker may be a better starting point.
SmartRouting
MEXEM uses IBKR's SmartRouting technology, which automatically seeks the best available prices across exchanges and market centres in real time. For active traders, this can translate into meaningfully better execution prices compared to brokers who route orders to a single venue.
Portfolio Analytics
MEXEM clients have access to sophisticated portfolio analytics including performance attribution, ESG portfolio scoring, allocation analysis by asset class, region and sector, and planning tools comparing actual versus target allocation.
Safety
MEXEM acts as an introducing broker to Interactive Brokers (UK) Ltd under a Fully Disclosed Clearing Agreement. Interactive Brokers (UK) Ltd (IBUK) is the executing broker, clearing firm and custodian, with responsibility for trade execution, custody of client assets, client money handling, margin services and trading platform infrastructure.
Client money and custody services are provided by Interactive Brokers (UK) Ltd in segregated client accounts, in accordance with the FCA’s client money rules (CASS 7). MEXEM UK does not hold client money or custody client assets.
Warning: All investing involves risk. The value of investments can fall as well as rise, and you may get back less than you invested. Past performance is not a reliable indicator of future results.
Account Security
Two-factor authentication is available. The mobile app times out after a period of inactivity for security purposes.
Reasons to use
- Authorised and regulated by the FCA
- FSCS protected
- Two-factor authentication used for additional account security
- Separation of client and company funds
Education
You would be hard-pressed to find a more comprehensive education offering available to retail investors than IBKR Campus and Traders' Academy, both of which are accessible to MEXEM clients.
Traders' Academy offers free online courses covering everything from basic investing concepts through to advanced derivatives strategies. Courses include notes and quizzes to reinforce learning, and tutorials are available in a range of languages. A Traders' Glossary is also available.
IBKR Podcasts are produced multiple times per week, covering market themes, platform features and investing principles to help you stay informed.
IBKR Webinars provide access to free live trading webinars from leading financial services companies and research providers globally. Recorded sessions are available to revisit at any time.
IBKR Quant serves quantitative professionals with an interest in programming, covering topics including deep learning, the IBKR API and data science.
For investors willing to commit the time, the educational offering is genuinely excellent. The breadth of content means it will take months rather than days to work through, which reflects both the richness of the resource and the sophistication of the platforms it supports.
Customer Service
Support at MEXEM is available via live chat, phone and email. This is an area where MEXEM meaningfully differentiates itself from going direct to Interactive Brokers. IBKR's customer support has historically been criticised for impersonal service and long wait times, a consequence of operating at enormous global scale with millions of clients.
MEXEM, as a smaller, more focused introducing broker, offers a more responsive and boutique service. Clients report that the support team is particularly helpful during account opening and onboarding, which is where IBKR's large-scale operation can feel frustratingly hands-off. MEXEM does not offer trading advice, investment guidance or tax advice, so you will not be able to receive advice personalised to your financial circumstances or goals.
For complex platform or infrastructure issues, MEXEM relies on IBKR's support channels, which may introduce some delays on deeper technical queries. For everyday account management and getting started, however, the experience compares very favourably to going direct to IBKR.
Corporate Actions
MEXEM clients can manage eligible corporate actions and proxy voting through the Client Portal. Investors receive notifications for supported events, including shareholder meetings, elections and voluntary corporate actions. Integration with IBKR’s Corporate Action Manager provides a structured process for reviewing and responding to eligible events.
Reasons to use
- Managed simply through Client Portal
- Voting available digitally
- Digital-first however paper copies of reports can be requested
- Letters of Representation requests available via secure messaging
Reasons to avoid
- Charges for Letters of Representation may apply depending on the request and jurisdiction
- Verdict4.5
- Fees5.0
- Trading Platform4.5
- Account Opening4
- Research5
- Safety5.0
- Education4.0
- Customer Service4.0
- Corporate Actions4.5
- Portfolio View
Fact Checked 
FCA authorised 
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