What do you do if you want to invest your hard-earned savings in stocks? Many South Africans will simply tell you to open a trading account with your bank and start trading.
But what if you questioned whether opening an account with a bank is the best solution? And what if you were asked if you know how much the fees are for your trade? And do you know if you are being overcharged?
The lack of competition between trading platforms in South Africa has meant that until now, most people would answer the above questions with a simple “NO”.
This is where Mexem comes in.
Mexem is disrupting the South Africa investing industry by bringing one of the largest online trading platforms in the world – Interactive Brokers – to the South African market.
Interactive Brokers was founded over forty years ago by an American – Thomas Peterffy. Peterffy has grown Interactive Brokers to become the largest electronic brokerage firm in the United States, and due to this business he is now ranked by Forbes as the 22nd wealthiest person in America.
Interactive Brokers has proven itself time and time again to be the leader in its field and today is simply one of the most revered online platforms for trading in stocks, bonds, foreign currency and a variety of other products, executing over 800,000 trades per day. As a US firm though, they haven’t been readily accessible to South African investors until now.
Established just over a year ago, Mexem acts as an ‘introducing broker’ for Interactive Brokers in emerging markets.
This means that Mexem adjusts the Interactive Brokers offering to each market, assisting clients with opening accounts, trading and understanding what options are best-suited to them.
By working with the biggest electronic brokerage firm in the US, Mexem offers South African investors the diversity of markets and the extremely competitive pricing that only an industry giant can offer. Crucially, Mexem doesn’t charge their clients a cent beyond the brokerage fees charged by Interactive Brokers itself.
A game changer for emerging markets like South Africa
With clients currently in South Africa, Nigeria, and Mauritius, and with plans to move into South-East Asian markets, Mexem is a game changer for emerging markets like ours.
They allow South African investors the opportunity to trade in over 120 markets worldwide, in 28 currencies, and all at very competitive prices.
They have also added the South African market to Interactive Brokers’ already impressive portfolio of tradable markets and have created a mechanism for their clients to get offshore stock exposure without using any of their offshore allowance.
Mexem is staffed by a team of highly-trained finance professionals who, along with helping you navigate the markets on offer, will guide you in the usage of various forms of technological investment tools.
This includes super-convenient desktop and mobile apps, that allow you to take control of your own investments, to whatever extent you want. Not all clients have the same needs, which is why Mexem offers several account options for both individuals and institutions.
By embracing the latest technologies and offering services (through world-renowned Interactive Brokers) that are impossible to beat in terms of scope, variety and affordability, Mexem is changing the landscape of investing in South Africa.