Mexican forex brokers – list of best brokers operating in Mexico

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There are no legal restrictions in Mexico barring foreign forex brokers to operate in the country, although the Foreign Exchange Commission, which is governed jointly by the Mexican central bank – Banco de Mexico and the Ministry of Finance, is responsible for the forex policy and a number of brokers are registered with it.

So on the Mexican market we have both properly regulated brokers with licenses form well respected financial institutions such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC), as well as those registered with the local Foreign Exchange Commission, and totally unregulated, offshore brokers, where the security of your investment depends solely on the integrity of the people behind them.

Also, Banco de Mexico, which has a mandate to implement all monetary policies in the country, does not impose any controls on the transfer of U.S. dollars into or out of Mexico and this means that profits can be repatriated freely.

And although there are some restrictions governing the deposit and exchange of U.S. dollars in Mexican Banks, dollar transactions that are processed through online banking are not affected.

Besides, the Mexican Peso is one of the exotic currencies that are getting more and more popular lately. According to data compiled by the Bank of International Settlements the USDMXN pair represented 2.1% of all forex transactions, which puts the currency just behind the Canadian Dollar and the Chinese Yuan, which has a share of about 4%.