Fees & Interest

MEXEM does not act to automatically convert currency balances back to the Base Currency as this action would require assumptions as to the account holder's desired currency exposure as well as the trade price at which they would be willing to close the position.

My Account & Login

MEXEM automatically closes zero-balance accounts to avoid ongoing fees. If an account closure request is made, MEXEM converts Settled Cash balances below USD 1,000 equivalent to base currency. Balances above this require closing trades before account closure.

My Account & Login

The Base Currency in your MEXEM account is essential for translating statement balances, ensuring margin compliance, and managing fees. It's often chosen based on the client's country of residence or where most income and assets are denominated. It minimizes necessary currency conversions.

Trading

The FX Portfolio in the Account window tracks currency trades for FX traders. Virtual FX Positions show average cost and running P&L, but don't reflect actual cash balance. Right-click to adjust position value. For real-time currency balances, check Total Cash in the Market Value section. Use FXCONV to avoid currency conversions.

My Account & Login

You can confirm your base currency from:Client Portal/Account Management: Go to menu Settings followed by Account Settings. Under Configuration it is stated the Base Currency.Activity Statement: **Under the Account Information section the Base Currency is stated.Trading Platform: **From the Account Window the totals display in the Base Currency.

MEXEM offers competitive Forex commissions starting at 0.20 basis point * trade value, with a $2.00 minimum per order. Commissions are estimated based on the second currency, then converted to the account's base currency. More info is on our Forex Pricing Structure webpage.

Getting Started

To convert currency in MEXEM Mobile, select 'Convert Currency' from the side panel. Choose your current and desired currencies, enter the amount, and slide to convert. This uses a Market order type. Alternatively, use the Order Ticket in the side panel and search for the currency pair you want to trade.

Trading

To convert EUR into USD on MEXEM, sell the EUR.USD pair. You can specify your order in USD by toggling the quantity from EUR to USD in the Order Entry panel. The new quantity will reflect the equivalent USD based on the current exchange rate. Modify as needed and submit the order. For detailed instructions, refer to our Users' Guide and the guide on currency conversion at MEXEM.

Trading

To convert non-base currency balances in TWS, go to Account Window, right-click on the balance, and choose "Close Currency Balance" or "Close All Non-base Currency Balances." Use limit orders to avoid rejections. If no direct pair, use a common currency. MEXEM converts small balances upon account closure. In MEXEM Mobile, use Convert Currency feature. Note: Currency balances may not match Virtual FX Positions.

Trading

To convert currency at MEXEM, use our trading platforms. For instructions, visit pages on converting currency in TWS, IBKR Mobile, WebTrader, or Client Portal. For more details, refer to guides on closing accounts and finding currency pairs.

Trading

MEXEM doesn't auto-convert currency balances to the base currency, except for balances under one full unit or for account closures and margin deficiencies. Users can manually convert currencies on MEXEM platforms. More details are in our Knowledge Base.

Trading

MEXEM clients can hold multiple currencies in one account. For trades in a new currency, cash account holders must convert funds, while margin account holders can use a margin loan or convert funds. After closing, profits or losses remain in the trade's currency.

My Account & Login

Cash accounts can't trade Forex on leverage but can convert currencies. As Forex involves buying one currency and selling another, the sale may result in a short position unless it closes or converts an existing long one. Thus, Forex orders leading to a short balance in any currency won't be accepted in a cash account.