Mexem Review: Scam or Legit Broker? - Topedgefx.com

Mexem Review: Scam or Legit Broker?

Mexem.com is a stock broker claiming to be the leading broker in Europe.

Mexem claims that they have the lowest fees and their customers can trade over 135 markets globally.

Mexem.com is currently affiliated with a South African broker whose domain is mexem.co.za.

I suspect that they have other domains across the internet as well since the broker’s presence is in Europe and Africa with the exception of America.

The broker is targeting individuals, families and even institutions as they provide all types of trading accounts including portfolio management services.

The history of their website is a bit sketchy because in as much as Mexem.com was registered in 2008, these guys were not in business until January 2018.

This suggests that Mexem.com was originally not a brokerage but a website that was used for other activities until it was acquired by the current owners in 2018 or thereabout.

While customers need not to know this information, I saw another advertisement where an author claimed that this broker has been around for 35 years.

It can be misleading because clearly we know that a broker with 35 years of experience in the market is not just a mere broker but one with client feedback from all over across the world.

Mexem Review: What this broker offers

They offer all kinds of instruments for trading not limited to Forex only.

Their website also highlights their various account types for clients.

Some of the account types include IRA, UTMA, UGMA as well as Joint accounts.

These are not a typical offering of a Forex broker as these account services may need additional licensing from a financial authority.

Having said that, I also found it necessary to delve into their trading platform and discovered that the famous MT4 or MT5 software are not offered.

Instead, Mexem has created an in-house trading application called Desktop TWS and Mexem Mobile.

While I don’t object these offerings, I find the usual trading platforms like MT4 and MT5 more convenient that these custom offerings.

Mexem also finds it ideal to provide their customer with a trading robot called iBot; a trick used by Briton Markets to attract more sign ups.

There is no proof or information to ascertain that iBot is profitable like the online trading services that I recommend here.

Managed Portfolio Accounts by Mexem

Again, I have not come across any information pertaining to the performance of these accounts.

The broker claims they offer above market returns but they show us nothing in terms of proof that signing up for this service is worth it.

Are they licensed?

They claim to be licensed by the CySEC and authorized by the Financial Markets Authority (FMA) in Netherlands and FSMA in Belgium.

I don’t know whether this is supposed to mean that trading with Mexem is safe because some regulated brokers have also stolen from their clients.

Any feedback from clients?

I am aware that Mexem is involved in aggressive advertising and promotion which makes them look like a perfect broker in the eyes of potential clients.

This is why there are a few articles on the internet claiming that this broker is good.

But I have not seen even a single feedback from a client of Mexem.

I wonder why there are no feedback from clients yet the broker is purporting to be a popular platform for trading.

I encourage you to leave feedback in the comment section if you have experience with this broker.

Otherwise, I feel that this is something strange. A broker like this but with no user reviews is usually an indication that something is wrong.

The Conclusion

I can’t recommend this broker and this is something unfortunate because their website is attractive and some readers here might have contemplated using their service.

I feel that they are an unsafe platform to use for trading.

If you still feel that you want to trade or invest in a safe way, I advise looking at these services

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