• L. 17.07995
  • H. 17.12158
  • Ch. -0.00512
  • Ch.% -0.03%
Costs & Margins
  • USD/MXN is the exchange rate between the Mexican peso and the US dollar. It tells traders how many pesos are needed to buy a US dollar.

    The peso is an emerging market currency, so the USD/MXN is classed as an exotic pair. However, it’s still the twelfth most traded currency pair.1 A lot of interest comes from carry traders due to the peso’s reputation as a high-yielding currency.

    Due to their geographical proximity, the US and Mexico have close economic and political ties. So, the USD/MXN rate is influenced by government decisions related to immigration, border control and tax.

    1BIS Triennial Survey, 2022

  • Margin From
    10 %
  • Trading Hours
    24 hours / day *
  • Min Trade Size
  • Long
  • Short
  • Min Stop Distance
    0.005 Points
  • Spreads
  • Spreads From
    0.00300 Points
  • Margins
  • 0 - 25000 000
    10 %
  • 25000 000 +
    30 %
  • Dealing
  • Spreads
    0.00300 Points
  • Margins
  • 0 - 25000 000
    10 %
  • 25000 000 +
    30 %
Economic Calendar

Pivot points
Pivot point
Last Updated: 2/26/2024 11:59:59 PM
Forex explained
What is forex?

Forex is the process by which traders can buy one currency and simultaneously sell another, with the goal to profit from the direction price is likely to take in the future. With a daily trading volume of more than $6.5 trillion, the forex market is the most traded in the world, and is open 24 hours a day, 5 days a week for banks, institutions and individuals worldwide.

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Why trade forex

People trade forex for a range of reasons, including the unmatched liquidity of the market, the ability to trade on leverage, the opportunity to take positions in both rising and falling markets, the lack of hidden fees or commissions, and the accessibility of markets being open 25 hours a day, five days a week.

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How to trade forex

In order to trade forex, there are a few key steps to follow. First, you need to select a currency pair. Many traders choose a major pair such as EUR/USD due to high liquidity. Next, analyzing the market is key to understanding the technical and fundamental drivers that may affect price. Once you understand how to read the quote, it's time to open your position by going long or short.

You'll need to monitor your trade, with many traders using technical indicators to make better sense of price action, and features such as stops and limits to manage risk. Finally, you can close your position when the market hits a price at which you want to exit.

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