MEXEM Europe Review

MEXEM, established in 2018, is a European stockbroker with its main offices situated in Belgium, The Netherlands, Italy, and Greece.  Albeit a relatively new broker, the company has 32 years of experience from other countries, including the Middle East and Africa.

The company provides a comprehensive set of products that allows you to trade on more than 135 exchanges in 33 countries, making them an extensive broker.

Trading Platform

The broker uses world-class trading platform, which can be set up interactively with a wide range of trading options.  The platform is suitable for both experienced and active investors due to its layout and the available options.

Provided the investor is willing to invest time in getting familiar with the platform, MEXEM may be ideal for less experienced or passive investors as costs are low.

Safety

With licenses from accredited financial regulators, MEXEM is considered safe. A long-standing track record and public financial disclosures while being listed on a stock exchange are also noble indicators for its safety.

  • A broad range of markets and products
  • Stock and ETF trading fees are one of the lowest in Europe
  • User-friendly mobile platform
  • Outstanding trading platform

 

  • Limited education tools

Main features

Country of regulation

Netherlands, USA, Cyprus

Withdrawal fee

0 for the first transfer of every month. Subsequent withdrawals incur an €1 fee

Products offered

Stock, ETFs, Mutual Funds, Bonds, Options, Futures, Warrants, Metals, Spot Currencies

Minimum deposit

€0

Deposit with credit card or electronic wallet

Available

Deposit method

Bank Transfer

Inactivity fee

No

Number of base currencies supported

23

Demo account

Available before opening live account

Fees

The below sections indicate the most significant fees for each asset class.  In the case of investing in shares, for example, commissions are the most important fees.

 

 

Mexem costs
Stocks
Currency Costs Minimum order cost
Belgium (EUR) 0.06% 1.8
Netherlands (EUR) 0.06% 1.8
Italy (EUR) 0.06% 1.8
France (EUR) 0.06% 1.8
Germany (EUR) 0.06% 1.8
United States (USD)  0.005 per share 2.5*
United Kingdom (GBP) 0.08% 2.5
Canada (CAD) 0.01 per share 2*
Sweden (SEK) 0.12% 20
Hong Kong (HKD) 0.12% 20
Australia (AUD) 0.12% 8
Mexem costs
Options
Currency Costs Minimum order cost
Belgium (EUR) 1.8 1.8
Netherlands (EUR)

EOE/AEX index options 0.9

Mini Index options: 0.3

Stock options: 1.36

1
Italy (EUR) 1.8 1.8
France (EUR) 1.8 1.8
Germany (EUR) 1.8 1.8
United States (USD) 2 2
United Kingdom (GBP) 2.5 2.5
Canada (CAD) 2.5 2.5
Sweden (SEK) 0.5% 20
Hong Kong (HKD) 40 40
Australia (AUD) 4.5 4.5
Mexem costs
Futures
Currency Costs
Australia (AUD) VW, WH and BA 6.25
All others 6.25
Belgium (EUR)

All

1.8
Canada (CAD) All 2.4
Germany (EUR) All (including SSF) 1.8
Mini-DAX indices 0.9
France (EUR) Mini-CAC40 Futures 0.5
All others 1.8
Hong Kong (HKD) All 100
Italy (EUR) SPMIB30, MFIB 2
Mini MFIB30 2
Netherlands (EUR) Mini-AEX Futures 0.50
Index Futures 1.8
All 2
United Kingdom (GBP) All 2
United States (USD)  US-Future 1
CFE Bitcoin – GXBT 5
CME Bitcoin – BRR 10
Sweden (SEK) All 20
Switzeland (CHF) All 3.5
Mexem costs
Investment funds
Currency Costs Minimum order cost
EUR (%) 0.1 5 EUR
Mexem costs
Investment funds
Currency Costs Minimum order cost
EUR (%) 0.15%* Nominal value 5 EUR
HKD (%) 0.15%* Nominal value External costs – SEHK 25 HKD
USD (%)

0.15%* Nominal value External costs – BondDesk MuniCenter – NYSE Bonds Transaction costs: USD 0.00075* Quantity Sold

8 USD
Mexem costs
Conversions
Currency Costs Minimum order cost
AUD (%) 0.005* Transaction amount 5 AUD
EUR (%) 0.005* Transaction amount 5 EUR
GBP (%) 0.005* Transaction amount 5 GBP
USD (%) 0.005* Transaction amount 5 USD
CAD (%) 0.005* Transaction amount 5 CAD
SEK (%) 0.005* Transaction amount 5 SEK
HDK (%) 0.005* Transaction amount 7 HKD
CHF (%) 0.005* Transaction amount 5 CHF
Mexem costs
Interest Rate
Currency Benchmark Daily Rate
AUD (%) RBA 0.026986%
EUR (%) EONIA 0.026986%
GBP (%) GBP LIBOR 0.027019%
USD (%) Fed Funds Effective 0.027151%
CAD (%) Bank of Canada Lending Rate 0.027318%
SEK (%) SEK STIBOR 0.026986%
HDK (%) HDK HIBOR 0.027019%
CHF (%) Swiss Franc LIBOR 0.026986%

Mexem costs
Other costs
Account opening Free of charge
Telephone order Free of charge
Dividend processing Free of charge
Custody fee Free of charge
External transfer costs Free of charge
Account overview Free of charge

Mexem costs
Other costs
Withdrawal of cash EUR WIRE: First withdrawal 30 days is free, then 8 euro per withdrawal
Withdrawal of cash EUR SEPA: First withdrawal within 30 days is free, then 1 euro per withdrawal
Withdrawal of cash USD First withdrawal within 30 days is free, then 10 USD per withdrawal
Withdrawal of cash GBP First withdrawal within 30 days is free, then 7 GBP per withdrawal
ADR/GDR fee Typical Range of 0.01 to 0.03 per share

Exchange and regulatory costs apply for the following exchanges:
Euronext.Life
● Commissions apply for all order types
● Stamp taxes (UK=0.5%, Ireland=1%) are passed on to the client
● Modified orders are treated as cancelled standing orders and will be replaced by new orders
On certain exchanges, it is possible that the effect of the change is visible in commissions
● Minimum transaction costs are calculated separately over each individual leg of a combination order

Account opening

The fully online process of opening an account is consistent and user-friendly. After online registration, the account authorization takes approximately 2 (two) business’ days.

You can open an account from most European countries, and international clients are admitted via the Dutch entity of MEXEM.  MEXEM reviews applications outside Europe on a case-by-case basis, but connections to the Netherlands will most likely have you accepted.

Moreover, you will be required to submit some personal information and answer questions about your experience with trading.

  • Fast
  • Fully online
  • No minimum deposit
  • Consistent overall process

 

  • None

Individual

You are the only account owner

Joint

Two Account Holders and can be one of the following types:
– Tenants with Rights of Survivorship
– Tenancy in common
– Community of property
– Tenancy by the Entirely

Trust

A legally official entity in which investments are held by one party for the benefit of another party.

 

 

Account opening

Enter your personal and financial information.

Add info about your trading experience and fill out a questionnaire on your financial knowledge.

Verify your identity and residency. Upload a national ID or passport to verify your identity; bank statements are accepted as proof of residency.

Persons over the age of 18 can open regular cash accounts. Cash accounts take three days after the sale of a stock to access the amount credited.
As per industry standards, most securities have a settlement date that falls on the trade date, plus 2 business days (T +2). Therefore, if you sell a stock on Monday, the settlement date will be on Wednesday. Margin accounts are most often best suited for traders and not investors.

Deposit and withdrawal

Deposits and withdrawals can only be made by way of bank transfers.   Ensure that the bank account is in your name and that you deposit in the same currency as the base currency of your MEXEM account. Deposits may take up to 3 trading days, and bank details can be requested for deposits in currencies other than EUR.  

You can make withdrawals directly from your Client portal. Although withdrawals do not have to be made to the same account as the deposit, the bank account must be in the same name.  Free withdrawals can be made once a month.  Fees apply for additional withdrawals.

  • Credit/Debit Card available
  • No deposit charge
  • Free withdrawal

 

  • Limited deposit and withdrawal options

Trading platform

Client Portal

Client Portal is a fully online trading platform that is simple and easy to use.  It comes with multiple order types, transparent fees, enabled notifications and, can be edited.

With Client Portal you have easy access to relevant account information in real-time such as Net Liquidation Value, P&L, buying power, and more.

Interactive Brokers offer an Account Management Platform that can only be used to transfer money and manage your account.

MEXEM Mobile

The mobile trading platform has many engaging features such as a chatbot, that are exceptional.

 It is available on both Android and iOS, and all options available on the desktop platform is also accessible on mobile. 

Due to the many options, the platform may seem complex at first.

MEXEM Desktop

The desktop platform offers advanced features and customizability. 

This makes the state-of-the-art platform more difficult to use and is recommended mainly for advanced traders who require a flexible trading platform.

The platform is powered by Interactive Brokers.

Both Client Portal and Mobile trading platform are available in English, German, Spanish, French, Italian, Russian, Dutch, Turkish, Chinese, Japanese, and Arabic.

Markets and Products

Markets

Countries

Currencies

Stocks

A wide range of stocks & ETFs is available

Mutual Funds

Global Mutual Fund Marketplaces offer clients a wide variety of funds at a low cost

Warrants

This offering attracts investors to invest in stocks

Bonds

A wide range of bonds are available

Futures

More futures are on offer than its competitors

ETF's

It is possible to acquire ETFs on margin or sell the ETFs short

Options

Outstanding coverage for options

Spot Currencies

Possibility for currency conversions and or trade currencies with leverage

Research

Trading Ideas

Trading ideas and recommendations by analysts from the biggest investment banks are available.

 

Fundamental data

Access to a wide selection of fundamental data such as financial statements of companies over the past 6 years, a dividend calendar, and a list of comparable companies.

Graphs

Countless card functions with over 100 technical indicators.  

The chart tool requires some trading experience.

 

News feed

Information is provided on a daily basis by leading news agencies such as Reuters. It can be filtered based on companies, topics, and many other criteria.

Portfolio Management

Investor profile and risk tolerance are analyzed, and Portfolio performance updates are provided by a personal Portfolio Manager. 

Minimum fees apply.

Customer service

The European Broker can be reached by email, chat and telephone from 8:00 am to 10:00 pm (GMT + 1).

MEXEM‘s live chat is available on the local websites for Austria, Belgium, Czech Republic, Finland, Germany, Netherlands, Slovakia and Switzerland. We tested the Dutch, where the response time was fast, and the relevance of the answers were very high.

The phone support was also quick and we got relevant answers.

Email responses generally took only a few moments. The answers to our questions were also quite useful.

Safety and Regulation

MEXEM is an introducing broker of Interactive Brokers and is regulated by the EU.

It has been registered with the Financial Markets Authority (FMA) in the Netherlands and the Financial Services and Markets Authority (FSMA) in Belgium.

In the unexpected event that MEXEM defaults, all assets (cash and securities) will remain with Interactive Brokers.

Founded in 1978, IB (Interactive Brokers) have survived many economic pressures.  Available on the NASDAQ, IB increases its transparency as it publishes financial statements regularly.

Being an introducing broker from a well-established company while being supervised by reputable financial regulators is a good indicator of MEXEM’s safety.

  • High level of investor protection
  • Negative balance protection
  • Majority of clients belong to a top-class financial regulator

 

  • None

Bottom Line

 

MEXEM has one of the lowest stock and ETF trading fees on the European market. The mobile trading platform is exceptional, and a wide variety of markets and products are available.

No minimum deposits are required, and the desktop platform is available for both beginner and advanced users. Deposits and withdrawals are available via bank transfers.

MEXEM is typically suitable for active and experienced investors due to the many features of the platform and the wide range of trading. Novice investors will need some time to be familiarized with the trading platform.

If you are a European client looking for low trading fees along with a good platform, feel free to try MEXEM today.