The Verdict
MEXEM is an FCA-authorised investment broker that uses Interactive Brokers (IBKR) to power its platform. IBKR is one of the world's most respected and advanced providers, which means you’re getting access to a really powerful platform on which to execute your trades.
Through MEXEM, you’ll get access to IBKR's full trading infrastructure that provides entry to 160 markets in 36 countries, and access to a huge range of investment assets including stocks, ETFs, options, futures, forex, bonds and more. Ready made portfolios are not currently available. Not all asset types are available within ISA or Junior ISA accounts. Availability depends on account type, regulatory eligibility, 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.
There’s an exceptional range of asset classes that gives you access to 160 markets in 36 countries, plus IBKR’s unbeatable selection of research tools and order execution features.
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
- Uses Interactive Brokers trading platforms and infrastructure
- Stocks and Shares ISA and Junior ISA available
- Zero platform, custody and inactivity fees
- Access to 160 markets across 36 countries
- Institutional-grade platforms: TWS, Client Portal, MEXEM App, MEXEM Lite
- Professional-level research tools from Reuters, Morningstar and more
- More personalised support and onboarding than going direct to IBKR
- FCA regulated with FSCS protection up to £85,000
Reasons to avoid
- Not a beginner-friendly platform
- Complex platforms, particularly TWS, that require a steep learning curve
- No MetaTrader 4 or MetaTrader 5 support
- No ready-made portfolios
- No social trading or copy trading functionality
- UK trades cost £2 per trade on both ISA and GIA accounts
- FX conversion fee of 0.25% applies to non-base currency trades
Fees
ISA account: £0 per US trade, £2 per UK trade, 0.04% per EU trade (min €0.8), 0.25% FX conversion fee.
GIA (Investor account): £0 per US trade, 0.04% per EU trade (min €0.8), 0.04% per UK trade (min £0.8), 0.002% FX conversion fee (min $2 or equivalent).
Zero platform fees, zero custody fees and zero inactivity fees apply to both account types.
Leverage
UK retail traders are limited to a maximum of 30:1 leverage on CFDs in line with FCA and ESMA rules. Margin borrowing is only appropriate for experienced investors with high risk tolerance. You may lose more than your initial investment. Losses from margin trading can exceed the value of your initial investment, and there may be additional costs from margin interest rates.
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. 0.002% is as low as you’ll find anywhere and even 0.25% is comparatively low.
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.
Trader Workstation (TWS) Trading skill level: Intermediate to Advanced
IBKR's flagship desktop platform is designed for seasoned, active traders looking for maximum flexibility. It supports 100+ order types, algorithmic trading, multi-leg options strategies, real-time risk analytics and highly customisable layouts. On TWS you will have access to real-time news, research, fundamentals and market data from leading providers including Reuters, Dow Jones, Morningstar and Zacks.
TWS is famously tricky for newcomers. The interface is dense and can feel overwhelming compared to simpler platforms. MEXEM's support team will assist during onboarding, but the platform itself has not been simplified. If you are used to something like eToro or Trading 212, this will feel like a significant step up in complexity.
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 Financial Services UK Ltd is authorised and regulated by the Financial Conduct Authority (FCA), Firm Reference Number 1009371. The firm is registered in England (company number 15248800) with a registered office in London.
MEXEM acts as a non-disclosed introducing broker to Interactive Brokers (UK) Ltd, which is the custodian and execution venue for client assets. Client assets held with IBKR in the UK are eligible for FSCS protection up to £85,000 in the event of IBUK's default. This is the same level of protection available to clients of any FSCS-eligible FCA-regulated firm.
Client funds are held in segregated accounts, entirely separate from MEXEM's own operational capital, which is best practice.
One point worth understanding clearly: FSCS protection of up to £85,000 applies in the event of IBUK's insolvency, not MEXEM's. The custodian here is IBKR UK, not MEXEM itself. MEXEM's role as the introducing broker means your regulatory relationship for custody purposes is with Interactive Brokers. This is a standard and well-regulated structure, but it is worth understanding how it works.
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.
Social Trading
MEXEM has not incorporated any social trading features such as copy trading or live discussion feeds. If copy trading is important to you, you will need to consider a different provider such as eToro.
MEXEM clients do have access to the IBKR Forum, a traditional discussion community where you can tap into the knowledge and experience of the broader IBKR client base. This is a useful resource when navigating a sophisticated platform, but it is not a modern social trading tool.
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Reasons to avoid
- No community forum
- No copy-trading or other social trading features
- Verdict4.0
- Fees4.5
- Trading Platform4.5
- Account Opening3.5
- Research4.5
- Safety5.0
- Education4.0
- Customer Service4.0
- Social Trading1.0
Fact Checked 
Best for UK investors 
FCA approved 
More info 
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