Skip to main content

Is E*TRADE available in Mexico? Alternatives in 2024!

Minho Investment Association| Updated January 23rd, 2024

You might already be acquainted with E*TRADE, a reputable American discount broker known for its wide range of financial services.

E*TRADE offers an online platform designed for independent investors and traders, enabling them to trade stocks, options, bonds, mutual funds, ETFs, and more. Furthermore, E*TRADE provides automated investment portfolios and retirement accounts, catering to a diverse spectrum of financial requirements and offering a highly acclaimed mobile trading app.

Are you curious whether E*TRADE is accessible in Mexico and what alternatives are available? We have the answers for you!

Is E*TRADE available in Mexico?

No, E*TRADE is not available in Mexico. E*TRADE is a noticeable online brokerage primarily oriented towards serving the U.S. market, providing a wide array of investment services to U.S. residents and citizens. After reaching out to their customer support, we received a clear indication that opening an account with E*TRADE in Mexico is not feasible.

Is E*TRADE coming to Mexico?

As our team has confirmed, there are no expansion plans into other markets following Morgan Stanley’s acquisition at the end of 2020.

E*TRADE Alternatives in Mexico

The good news is that in Mexico, there are lots of other options like E*TRADE that gives you similar or maybe even better stuff for investing, and they won’t cost you much or anything at all. Given that, here are our suggestions:

eToro

Founded in 2007, eToro is a fintech firm that provides an investment platform for over 30 million investors. It enables users to invest in various assets, including stocks, ETFs, commodities, CFDs, forex, and cryptocurrencies. It also offers a social trading feature where you can interact with other investors and traders.
Disclaimer: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Interactive Brokers

A US-based company established in the field of online brokerage presents a highly advanced trading platform offering an extensive selection of financial products. They also offer a user-friendly app called IBKR GlobalTrader, tailored particularly for beginners.

XTB

XTB, a company headquartered in Poland and publicly listed on the Warsaw Stock Exchange, provides trading platforms (xStation 5 and xStation Mobile) that grant access to a diverse array of CFDs on stocks, Forex, indices, commodities, and cryptocurrencies. 

#1 eToro

Is E*TRADE available in Mexico? Alternatives in 2024! 1
Visit eToroIs E*TRADE available in Mexico? Alternatives in 2024! 2

76% of retail CFD accounts lose money.

eToro at a glance

Products availableStocks, ETFs, Cryptos and CFDs
Minimum Deposit$200
Deposit MethodsCredit/Debit card, Skrill, Rapid Transfer, Neteller and Bank Transfer
Fees and Commissions$0 for buying and selling stocks (spread and conversion fees may apply)
RegulatorsFCA, CySEC, ASIC

eToro, established in 2007, is a renowned brokerage firm celebrated for its innovative social trading features. Today, it stands as one of the most prominent fintech companies globally, boasting a user base exceeding 30 million individuals. With access to over 3,000 diverse assets and stocks from 17 different stock exchanges.

eToro’s investment platform, accessible through both web and mobile platforms, serves as a social trading hub. Here, investors can engage in discussions about investments, speculations, and market news with fellow traders. eToro also allows users to replicate trading strategies and experiment with a demo account. 

Both versions of the app boast comprehensive and user-friendly interfaces, enabling intuitive, commission-free trading of stocks from various countries, including the US and the UK. Furthermore, the app supports ETFs, cryptocurrencies, and CFDs.

The broker places a strong emphasis on reliability and safety, backed by regulation from top-tier authorities like the FCA, ASIC, and CySEC. Investor funds are securely segregated and insured for up to 1 million Euros, providing an additional layer of protection.

Considering these compelling attributes, eToro is a robust choice for beginners, intermediate investors, and seasoned professionals in Mexico. If you seek more detailed insights into eToro’s services, we recommend perusing our comprehensive eToro review.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

#2 Interactive Brokers

Is E*TRADE available in Mexico? Alternatives in 2024! 3
Visit Interactive BrokersIs E*TRADE available in Mexico? Alternatives in 2024! 2

Interactive Brokers at a glance

Products availableStocks, futures, options, Forex, commodities, bonds, mutual funds, hedge funds, ETFs, CFDs
Minimum DepositMXN 0
Deposit MethodsWire bank transfer
Fees and CommissionsBetween $0.0005 and $0.0035 per US share (maximum 1% of the trade) MXN 0.1% of the trade value for Mexican stocks (minimum 60 MXN)
RegulatorsFINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS, MNB

Interactive Brokers has firmly established itself as one of the most reliable brokers in the financial market. With a history spanning over four decades, the company has weathered numerous financial crises, cementing its reputation as a trustworthy and resilient broker. It operates under the supervision of multiple top-tier regulatory authorities, adding an extra layer of credibility.

For investors in Mexico, Interactive Brokers extends its services, enabling you to access both international and domestic markets. Their suite of trading apps empowers users with sophisticated and powerful tools, facilitating a broad spectrum of trading options. Importantly, they offer competitive pricing across various mobile apps and web-based platforms, catering to your expertise level.

Among their mobile apps, the IBKR GlobalTrader stands out as a user-friendly choice, especially well-suited for beginners. It streamlines the investment process without compromising on the robust tools for which Interactive Brokers is renowned.

If you aspire to harness the full potential of the broker’s advanced tools, the IBKR Mobile app provides a comprehensive and sophisticated trading experience, encompassing stocks, ETFs, and options. However, due to its feature-rich nature, it might be somewhat overwhelming for newcomers. In such cases, we recommend opting for the more user-friendly IBKR GlobalTrader.

Interactive Brokers doesn’t stop at mobile apps; they also offer desktop and web-based platforms equipped with advanced trading tools, ensuring access to Mexican and global financial markets. All in all, Interactive Brokers ranks among the top choices for those seeking to invest in Mexico, providing versatile solutions to match your unique requirements.

For those eager to delve deeper into Interactive Brokers’ offerings, we encourage you to explore our comprehensive Interactive Brokers review for a more detailed understanding.

#3 XTB

Is E*TRADE available in Mexico? Alternatives in 2024! 5
Visit XTBIs E*TRADE available in Mexico? Alternatives in 2024! 2

76-85% of retail CFD accounts lose money.

XTB at a glance

Products availableStocks, ETFs, and CFDs on commodities, Cryptocurrencies, Stocks, ETFs, Forex and Indices
Minimum Deposit$0
Deposit methodsCredit/Debit card, Wire transfer, Skrill, Neteller
Fees and CommissionsCommission-free trading for CFD on stocks using the Standard Account (markup of 0.30% included in the spread)
RegulatorsFCA, KNF, CySEC and FSC

Founded in 2002 in Poland, XTB operates in Mexico through its subsidiary, XTB International Limited, which is duly authorised and regulated by the Financial Services Commission of Belize (FSC) under licence number 000302/316. Safety is a paramount consideration when selecting an investment platform in Mexico. XTB holds licences in multiple jurisdictions and is subject to stringent oversight by top-tier regulatory bodies, including the FCA.

At the heart of XTB’s offerings is the award-winning XStation, available for both mobile and desktop platforms. This robust application facilitates trading across a diverse spectrum of financial instruments, equipping users with an array of technical analysis tools. Furthermore, it offers an extensive repository of educational resources.

It’s important to highlight that, in Mexico, XTB exclusively offers CFDs, which means you won’t have direct ownership of the assets but instead have exposure through derivatives. It’s essential to recognise that trading CFDs is complex and carries substantial risks, and most investors experience losses when engaging in this form of trading.

However, XTB does present some compelling advantages. There are no commissions associated with CFDs on stocks, no minimum deposit requirements, and they provide robust educational materials. Additionally, users can access a free demo account for up to a month. These features collectively make XTB an attractive and reliable option suitable for beginners and advanced investors if you have a solid understanding of the inherent risks associated with CFD trading. In our assessment, this positions XTB as a great alternative to E*TRADE in Mexico.

If you still have lingering questions or uncertainties regarding this broker, we encourage you to explore our detailed XTB review for further insights.

Which platform should you choose?

When choosing an online broker in Mexico, there are several factors to consider, including the fees they charge, whether they are registered in top-tier regulatory institutions, and the range of products they allow you to trade, among others.

The best online broker for your specific situation will depend on your profile, preferences, and objectives. Explore the available platforms and make your decision accordingly.

Please note that the information provided should not be taken as investment advice and should be regarded as informational only. Investors should conduct their own research and due diligence regarding the most suitable services and opportunities based on their risk profile, return expectations, and impact strategy.

Minho Investment Association
Contributor

The Minho Investment Association (MIA) is a junior initiative from the University of Minho (Portugal), which aims to promote financial literacy among young people.

linkedin