Forex broker with mpesa deposit

If you want mobile money’s convenience and instancy, then here are the forex brokers that accept mobile money.

New forex bonuses

Forex brokers that accept mobile money and mpesa (2021), forex broker with mpesa deposit.

Exness, XM, and forextime (FXTM) are the forex brokers that accept airtel money from traders who live in any of these countries: uganda, kenya, burkina faso, democratic republic of congo (DRC), congo brazzaville, gabon, ghana, nigeria, malawi, chad, niger, rwanda, seychelles, sierra leone, tanzania, zambia, madagascar, bangladesh, india, and sri lanka.

Forex brokers that accept mobile money and mpesa (2021)

If you want mobile money’s convenience and instancy, then here are the forex brokers that accept mobile money.

Trading is stressful and risky enough; when you make the profits, you want a convenient way of withdrawing your forex trading profits.

The solution, mobile money: a convenient service by telecoms and finetechs driving financial inclusion in remote places beyond the reach of mainstream banking.

In this article are forex brokers that accept all the major mobile money services like MTN mobile money, airtel money, mpesa forex brokers, and ecocash forex brokers.

What is mobile money?

Mobile money is an electronic financial service using mobile devices to send and receive money.

It is widely popular in many african and asian countries with a low penetration of VISA and other online payment services.

Thanks to telecom companies, you can deposit to and withdraw money with forex brokers that accept mobile money and forex brokers using mpesa.

Mobile money providers for funding A forex trading account

Forex brokers that accept MTN mobile money

MTN’s mobile money is arguably the most used mobile money service in africa.

So if you want to forex brokers that accept MTN MOMO in uganda, nigeria, ghana, guinea bissau, benin, ivory coast, cameroon, rwanda, and south africa, try exness, XM, and forextime (FXTM).

Forex brokers that accept airtel money.

Airtel provides a tremendous mobile money service for forex traders.

Forex brokers using mpesa

The attraction of mpesa forex brokers is it enables locals use M-pesa – a popular mobile money payment service in kenya and tanzania.

Exness, XM, tickmill, and forextime (FXTM) are the best forex brokers that accept mpesa by safaricom in kenya and vodacom in tanzania

Forex brokers that accept ecocash

If you are a trader in zimbabwe, you are not left out; exness and XM are some of the forex brokers that accept ecocash.

Quick review of forex brokers that accept mobile money and mpesa

Exness

Exness is the best forex broker that accepts mobile money and mpesa. Withdrawals are instant 24/7.

Exness’ mobile money deposit and withdraw limit is $500

When you withdraw from XM, expect the money to land on your mobile wallet within 30 minutes to 2 hours. Once in awhile, withdrawals may take 24 hours.

XM’s mobile money deposit and withdraw limit is $500

FXTM – forextime

Forextime – FXTM accepts funding a forex trading account with mobile money wallets.

FXTM’s mobile money withdraw and deposit limit is $1,500

Advantages of trading with a broker that accepts mobile money.

Withdrawals and deposits are fast.

Mobile money is available 24 hours a day

A forex broker like exness provides instant withdrawals 24/7

Over to you – what is the best forex broker that accepts mobile money in your country?

Let me know which of these brokers provides the best mobile money experience? Is there a forex broker that accepts mobile money or a mobile money service we need to include on the list?

A to Z guide to how to trade with forex brokers using mpesa

Mpesa payment system for forex brokers is extremely popular right now. Over the past few years, it has become one of the most widely-used payment methods for forex, and has amassed quite a large number of traders who consider it to be the top payment system for forex trading.

Mpesa has managed to achieve this by offering a great solution to some of the central issues surrounding payment, such as simplicity, speed and convenience. By focusing on these key points and excelling at them majorly, mpesa has secured itself a top spot as a forex payment solution.

In this guide, we will be talking about what mpesa really is, how it works, what are its interesting quirks and features, and how to use it as a forex trader for maximum benefits. In the meantime, make sure to check out XM, one of the top brokers offering mpesa payments on their website.

Top forex trading brokers working with mpesa

Before we talk about what mpesa is why it works so well with forex brokers and what are some of its most interesting features, we would like to give you a shortlist of what we believe to be the best brokers that accept mpesa. With the huge amount of so many brokers out there, and so many many more constantly being added, it can definitely be difficult to choose a good, trustworthy and reliable forex broker, especially for the beginners and especially when there’s so much conflicting info online. With that in mind, we hope that our list of top forex brokers accepting mpesa will prove to be useful to you!

What exactly is mpesa and how does it work?

Mpesa is an online payment system provider that is especially popular in africa, mainly kenya and tanzania but has recently made efforts to expand to afghanistan, south africa, india, and several other countries as well.

Mpesa is quickly gaining in popularity, with forex trading in kenya using mpesa becoming the norm, and more and more people see it as a viable option of payment for all sorts of different services. Mpesa is essentially a mobile-based money transfer service and is discerned by some of its main qualities of simplicity, speed, and accessibility.

As stated, forex brokers that have mpesa are predominantly popular in kenya, in part because of how easy it has made the payment process for many different services. With that being said, those interested in using it from the other countries should definitely not be discouraged, as it’s a great service that anyone can benefit from, whether or not they are from kenya.

High leverage, tier one liquidity, great ECN trading conditions and fast execution speeds

What are the advantages do mpesa forex traders gain?

The idea mpesa itself, and how it works, is a fairly similar concept to grasp. There’s not much into it. In fact, it seems to be fairly similar to all online payment methods like paypal and skrill. So, what’s the point? Why go with mpesa over the alternatives? Well, there’s no universal answer to that. The point is, while something may work the best for you, there are tons of other people for whom something else may be preferable. It all comes down to your specific requirements, and how they may be fulfilled. Having said that, we believe that the forex broker mpesa deposit definitely has its own strong advantages. Let’s discuss all of them below:

Simplicity and ease of use

One of the primary benefits of depositing with a forex broker with mpesa is how simple it can all be. It’s probably not a secret to many, that getting into forex is not simple. There are tons of steps that you have to go through. After finding a decent broker, which is a big task in and of itself, you then have to go through an oft-tedious process of signing up and going through all the verification trials and tribulations, which can sometimes be a very frustrating and time-stretched process. Even after that, sometimes, the hardest part may be the payment process. For some forex brokers, payment systems are a big pain, as not all of them are able to easily facilitate convenient payment due to a large number of reasons that are simply outside their control.

Forex brokers are fully aware of this, and that’s exactly why forex brokers that accept mpesa are becoming so common. Making payment systems easier and more accessible is one of the biggest priorities of any forex broker, no matter which market they are in. In a way, the very structure of mpesa allows for unparalleled simplicity. How exactly?

Mpesa works in a way that it basically lets you use your mobile phone as an e-wallet. You are essentially attaching your SIM card and mobile account to your banking account, and use it to pay for a large number of services. This means, that you have a very powerful and versatile method of payment in your pocket 24/7.

In some cases, transferring money from one account to another is as simple as sending a text message, which allows for unprecedented accessibility. In countries like kenya where for a lot of people the main access-point for internet connection and other computer activities are their mobile phones, this can be a game-changer.

As compared to other payment methods, which may sometimes require some needlessly-complicated extra steps, this kind of simplicity gives any broker a huge advantage.

Security and safety

Another advantage of using mpesa powered FX broker is the added benefit of security that you automatically gain. When it comes to investing your hard-earned money, your time and your energy, security is one of the things that you should consider to be of utmost importance.

Mpesa was built and developed by vodafone, which is one of the biggest mobile networks in the world. They have been on the market for decades, and have successfully managed to supply great mobile service for millions upon millions of people around the world. Needless to say, their experience and track record gives you an assurance that their service will be of impeccable standard, and so will be the security of their software. This is one of the very important aspects that many people don’t pay a lot of attention to when choosing their payment method, which is rather unfortunate, as when it comes down to investing your money, you have to make sure that you are covering all your bases on the security-side of the things.

What also aids in the security of forex trading brokers with mpesa is the fact your funds on your mpesa accounts are not actually in the hands of mpesa itself, but rather, they are stored in segregated accounts at safaricom headquarters. The latter is managed by the kenyan government, which supervises the money itself. During all of this, the money isn’t just laying around. Rather, they are used for the development and advancement of the kenyan economy by spreading across different banks and other commercial sectors. Kenyan government conducts full supervision and makes sure everything is accounted for, which means that the security and stability of your funds is in the very interests of the government of kenya, attesting to the security of mpesa forex trading even more. If you like what you’re seeing about mpesa so far, check out these welcome bonuses by XM, one of the top brokers accepting mpesa today.

Less chance of any issues with processing payment

When it comes to forex payments, one of the most common problems that a lot of traders face is the fact that their charges have trouble going through. This happens when the bank decides to step in and decline the charge until it’s approved by the account-owner. This is usually done due to security reasons and is automatic in the vast majority of the cases. While the added security is always appreciated and welcome, it can definitely be a problem in some cases. A forex brokerage accepting mpesa rarely has this problem, and there’s a reason why.

Mpesa is one of the biggest money transfer services in the region, handling millions of dollars’ worth of transfers every single day. This means they need to have a very robust and effective payment processing system of world-class standards. Especially in countries on the african continent, where mpesa is so popular and so many transactions are made every single day, the chances of your bank declining their charge is almost no-existent.

This is a huge benefit for the broker as well, as it makes it much easier for them to facilitate the payment, and avoid losing any possible deposits because of a declined charge, giving a great advantage to trading platforms that accept mpesa.

Mpesa synergizes with forex very well

It’s not a coincidence that the number of forex brokers allowing mpesa payments. By design, mpesa is almost custom-made for forex. First off, we have to understand that the forex market is extremely volatile, it’s simply designed to be that way. The reason why people are able to make very large amounts of profit in such a short time and can multiply their investments manyfold is because of the fact that forex is so volatile. After all, it’s a currency-trading market, and currencies themselves are dependent on so many things, that they can change in a blink of an eye.

Due to this, speed and timing are some of the most important factors in being successful at forex. To be successful, you need to be able to maneuver around the events correctly, and most importantly, fast. Making last-minute decisions on the fly is extremely common, and you need to be able to make frequent transactions without wasting time. This is where benefits like forex broker top up mpesa come into play, and lets you stay ahead of things with its flexibility and versatility. This is coupled with the fact that mpesa has very low fees, which is great as you’ll be making a lot of microtransactions for quick redeposits.

Looking at the perspective of the brokers, they have a lot to gain from using mpesa too. By letting the traders pay via mpesa, they take a lot of load from their own shoulders. The payment will be handled by mpesa’s own secure server, which creates a win-win scenario for both parties and gives them some peace of mind. Additionally, since mpesa is so popular among forex traders, it allows them to create one unified ecosystem for transferring the money between different accounts. It’s not uncommon for experienced traders to be trading with multiple different websites at any given time, so this kind of cross-website flexibility can really come in handy with mpesa forex brokers.

So, is mpesa for you?

The global market for forex is very dynamic and ever-changing. As more and more people join with each passing year, the market changes accordingly. One of the main challenges for the forex brokers is to make the whole process, from start to finish, easier and more accessible for the general public. Payment is at the center of all this, as it is the beginning point for the whole trading process. It’s exactly because of this that forex trading via mpesa and other similar payment methods is gaining popularity, and they have proven to be one of the most effective methods to make trading more attractive to people.

Mpesa doesn’t offer anything extraordinary. Rather, it does an extraordinarily good job at ordinary things like speed, usability, and convenience. If these are what you are looking for, and feel that you are ready to go, click the link below to check out XM, one of the best brokers where you can make your first deposit with mpesa today!

Frequently asked questions

Contrary to popular belief, trading isn’t all that uncommon nowadays. People from all sorts of different backgrounds are finding it much easier and much more interesting to join trading. The thing is, the internet has opened up a lot of doors to a lot of things that were simply not open for a lot of people, and this includes trading as well. Gone are the days when you had to prepare thousands upon thousands of dollars of capital only to get started with trading. Nowadays, people investing very small amounts of money and getting started with smaller-scale trading endeavors is very common.

Without any doubt, one of the biggest reasons as to why we have been seeing this development today is forex. Forex has shown the world that trading doesn’t have to be hard, expensive and intimidating. It has shown us, that pretty much anyone can trade, and with enough time, dedication and patience, anyone can be successful at it. With that being said, since the popularity and demand for forex has been increasing so rapidly over the years, the number of brokers has been increasing as well, to the point where there are hundreds upon hundreds of forex brokers out there. With such fierce competition, companies are constantly challenged with coming up with newer and more effective ways to help them differentiate themselves from all the other competitors out there who are offering the same thing. One of the biggest focuses for forex companies who are looking to improve their service is the payment process. Payment is one of the key pieces of the whole forex puzzle, and by making it easier, faster and more accessible is a surefire way for forex companies to attract more customers, and that’s exactly the reason why mpesa is one of the fastest-growing and most preferred payment methods.

Benefit from high leveraged, full STP/ECN CFD trading through tier one liquidity

Is hotforex A good forex broker for kenyans?: find out in our detailed review

If you are looking for a reputable forex broker in kenya, hotforex is the way to go. I will break it down for you in a nutshell.

Hotforex is one of the few online forex brokers that accept mpesa, which means ease of deposits and withdrawals for forex traders in kenya

You can open a micro trading account with as little as $5 (not that I recommend you start trading with only five dollars, but you know…)

Hotforex is an STP (straight through processor) broker which means your order is passed straight on to the liqudity providers and your bet is not hedged or manipulated like on using a market maker broker

And to top it up, hotforex offers some of the most generous bonuses to new traders. I particularly like the 100% credit bonus, which I shall be discussing shortly.

If you’re not the kind of person that likes lengthy discussions after the point has been made, this is the chance for you. Go open an account at hotforex. Use this link to claim your 100% credit bonus.

Does hotforex accept mpesa?

Yes. Hotforex accepts mpesa deposits and withdrawals. To deposit money into your hotforex account using mpesa, you’ll first need to log into your account at my.Hotforex.Com and then proceed to follow the instructions provided by the broker. The minimum deposit using mpesa is kes 1,000 ($10) and it takes less than 10 minutes for the money to be reflected in your trading account.

Open a live trading account

Hotforex review summary

feature	hotforex
minimum initial deposit	$50
forex: spot trading	yes
currency pairs (total forex pairs)	49
cfds - total offered	104
social trading / copy-trading	yes
cryptocurrency traded as actual	no
cryptocurrency traded as CFD	yes
average spread	1.2 pips on EUR/USD

Is hotforex regulated in kenya?

Hotforex is a legitimate forex broker that has been in the industry for more than 10 years. The broker is regulated by more than 3 reputable regulatory authorities including the financial conduct authority (FCA), which is one of the best regulatory authorities in the world.

This is one of the forex brokers that we highly recommend to kenyans as the they accept mpesa as a means of depositing and withdrawing money from your trading account.

We insist on trading with forex brokers that accept mpesa as the ease of depositing and withdrawing money into your forex account plays a major role on your journey to becoming a successful forex trader. Here is an up to date list of the best forex brokers that accept mpesa.

Hotforex account types

Hot forex offers 6 account types namely:

Micro account from only $5

Premium account from just $100

PAMM account for fund managers

Hotforex ZERO spread account

Unlimited risk free demo account

Which account type is right for you is a matter of personal choice. If you just trading for hobby, you’ll probably want to go with the micro account. Day traders and swing traders go for the premium account while scalpers are best suited with the hotforex zero spread account.

Is hotforex an ECN provider?

How long does it take to withdraw from hotforex?

One of the areas where hotforex fails miserably is on withdrawals. While many other brokers offer instant withdrawals, hotforex makes you wait anywhere from 3-24 hours to process withdrawal requests.

Top forex brokers that accept mpesa deposits in kenya

Demo account

:regulated

:MT4 integration

:supports all devices

:fast payouts

:instant deposits

Regulated

:available on all devices

:101 trading tools

:demo account available

:trading signals available

:24/7 support

:trading community

12 trading platforms

:6 account types

:150+ trading platforms

:15+ funding methods

As a writer of forex content; one of the questions that I’m constantly asked is to recommend a good forex broker that accepts mpesa deposits in kenya.

Of course, they aren’t so many.

And just until recently, the few brokers who provided mobile payment solutions were either unreliable or new.

In this post, we list forex brokers that accept mpesa deposits and withdrawals in kenya.

Some of these brokers are strict to forex trading. Others are diverse and also provide options trading on the side.

1. XM forex.

How to fund your XM broker account with safaricom – mpesa.

To deposit money to your XM account with mpesa,

Click on the quick deposit button on top of your trading chart.

You can fund XM with VISA, mastercard, skrill, neteller, astropay, bitcoin, webmoney, and dusupay. But for the purpose of this blog, click on dusupay.

Scroll down to the mobile payment method and click on safaricom mpesa.

Enter your phone number and the amount you wish to deposit.

Confirm that you want to fund XM forex via dusupay.

You will see this message after clicking continue –

Payment pending.

If you have followed the steps correctly, your account will be credited soon.

8. Check your phone for push notification from dusupay and enter your mpesa pin to complete the transaction.

2. Iron trade.

Updated on 8/13/2019 – before opening an account with iron trade or investing your money with the platform, know you can lose all your investments. Another thing, people who have invested in iron trade in kenya have reported trouble in withdrawing their money.

Demo account

:regulated

:MT4 integration

:supports all devices

:fast payouts

:instant deposits

It is owned and operated by bartoli management S.A of address 306 premier building, albert street, victoria, mahe, republic of seychelles .

Iron trade offers forex and options trading with the lowest trading time in the market.

You can open a trade that runs for 30 seconds and get 80% returns (or more) when you win.

The best thing about iron trade is, it operates 24 hours – 7 days a week.

Take note that deals made during the weekend are over the counter deals (OTC).

What’s the meaning of OTC?

Over the counter, trade means a transaction made between two parties without publishing it anywhere. These types of deals are unique to iron trade and can be a source of income when forex is off.

Is the iron trade platform user friendly?

Demo account

:regulated

:MT4 integration

:supports all devices

:fast payouts

:instant deposits

It is easy to open an iron trade account, navigate, and to actually trade on the platform.

To confirm that it is, in fact, easy to use and that the OTC option works just fine; I opened an iron trade account over the weekend;

Traded on the demo account, lost, recovered, and made some profits.

Does iron trade accept mpesa deposits?

Yes, in fact; the system is so easy to use and very convenient.

You will be redirected to the dusu pay page with an option to choose your preferred payment choice.

Payments are localized such that if you are in kenya you can use mpesa; cameroonians can use MTN money to deposit to iron trade; ghanaians can use mobile money; nigerians to use mastercard, verve, and visa; rwandan traders can use MTN mobile money to deposit; tanzanians can use mobile money and the people of uganda can make a deposit to iron trade with either airtel money or MTN mobile money.

Payments in iron trade are safe and secure and you can deposit ksh. 1,000 minimum.

3. Expert option.

How to fund your expert option account in kenya.

There are 11 easy ways to deposit money to your expert option account in kenya. You could use your visa card, mastercard, maestro, yandex money, qiwi, crypto, perfect money, fasapay, webmoney, neteller, or skrill. But perhaps the only method you’d want to learn how works is the newly introduced mpesa deposit method.

How to use mpesa to deposit money to your expert option account.

Login to your expert option account or register here if you are new to trading. Now click on the deposit button on the top right corner of your browser and choose mpesa.

Enter your mpesa number and click continue.

Enter your mpesa number again and click pay. Your number must not have a (+) sign at the beginning. In case of any difficulty in payment, just reply to the live chat pop up on your computer and you will get instant help.

Demo account

:regulated

:MT4 integration

:supports all devices

:fast payouts

:instant deposits

You will get a push notification (on your phone) asking if you want to pay the specified amount to flutterwave account number expertoti… enter your mpesa pin to complete the transaction.

Your account will be updated instantly.

Remember, after your first deposit you won’t be able to change your deposit and withdrawal method.

4. Templerfx.

Templerfx is one of the most popular forex brokers in kenya. And a pioneer of forex deposits via mpesa.

Like most international brokers, templerfx is licensed to the financial services authority (FSA) of saint vincent and the grenadines.

You can trade forex, metals, energies, cfds and spot indices on templerfx.

How to deposit money to templerfx.

Templer accepts deposits from different wallets from across the world.

People in russia can use alfa-bank to make a quick deposit; georgians, kazakhstanis, and ukrainians can use self-service terminals for instant deposits.

Kenyan and tanzanians can use mpesa for mobile wallet deposits. Nigerians, south africans, europeans, and people of aisa – can use: – skrill, perfect money, contact, visa, mastercard, leader, OK pay, paxum, name it..

The minimum deposit in templer is ksh. 100.

Are spreads in templer good enough for newbies?

Here’s a sneak peek of templer contract specifications.

Learn more about templerfx here.

Demo account

:regulated

:MT4 integration

:supports all devices

:fast payouts

:instant deposits

5. Olymp trade.

Olymp trade is so far the best option trading broker in the world.

If you don’t have an account with olymp trade already, register.

Olymp trade does not currently accept mpesa deposits but I believe it is a service that they will soon integrate.

At the moment though, you can deposit from mpesa via skrill to olymp trade.

It is also possible to deposit to olymp trade from mpesa via neteller.

6. EGM securities accepts mpesa deposits.

EGM securities is a local broker in kenya that provides a platform for trading both forex and cfds.

Hard as it is to believe, EGM is the only FX company that is regulated in kenya under the capital markets authority.

To start trading in EGM you need to deposit at least $200 or $5000 depending on if you want to start trading with an executive or a premium account.

Unlike it’s international competitors spreads in EGM are high at 1.6 with a maximum leverage of 1:400.

EGM supports MT4 trading and it also accepts mpesa deposits.

7. IQ option.

When we talk about options trading, which trading platform comes to your mind?

Expert option?

Binomo?

Avatrade?

To most of us, we think IQ option when we think trading.

And even though IQ option isn’t currently as popular to kenyans as the wildebeest migration is to the serengeti; it is still a broker to recon with.

IQ option doesn’t currently accept mpesa deposits.

However, you can still deposit from mpesa to IQ option via skrill or neteller.

8. FXTM accepts mpesa deposits


MT4	✓
MT5	✓
minimum deposit	$10
ECN (minimum deposit	$200
mpesa deposit kenya	available
start trading	register

Did you know that FXTM is now the only international and most reputable forex broker that offers almost all the local deposits solutions to almost all african countries?

Nigerians can deposit to FXTM using nigeria local bank wire transfer

Indonesians can deposit using indonesian local transfer

Algerians can deposit with algerian local transfers (local currency supported)

Kenyans can deposit to FXTM using mpesa ( join FXTM )

Pakistani can deposit to FXTM using local transfer for india and pakistan

People of malaysia can deposit using online banking malaysia services

Traders from afghanistan can deposit with afghani local transfers services

Chinese traders can deposit to FXTM using china online banking (P) services

Traders from tanzania can deposit using tanzanian local transfers (BRK)

FXTM traders from vietnam, thailand, and iraq can also deposit using local transfer services

FXTM also accepts all E-wallets including dusupay which allows rwanda and ugandan traders to deposit using MTN mobile money.

P.S mobile money deposits are instant.

9. Hot forex kenya

Hotforex is the latest forex broker to accept mpesa deposits in kenya.

If offers different account types to different traders. Accounts which include: –

A. A micro account which only needs a $5 deposit to activate

B. A premium account that needs $100 to activate and an auto account.

You can trade over 47 different currency pairs, gold, and metals, oil and energies, commodities, stocks and indices with hotforex.

And even more interesting, you can deposit and withdraw money to the broker via all these methods

Bank transfer

Credit card

Debit card

Boleto

China unionpay

Fasapay

NETELLER

Mpesa

Skrill

Webmoney

Yandex money

Forex brokers that accept M-pesa

Compare brokers that accept M-pesa for deposits and withdrawals to and from your trading account.

Share to win a $1,000 amazon voucher. Find out more ▷

You can fund your 4XC account 24 hours a day, 7 days a week. When you fund your account through M-pesa, 4XC will instantly credit your balance. In comparison, it can take anywhere between 2 and 3 business days for bank transfers to complete. 4XC (4xc.Com) is the only broker in our panel to accept deposits through M-pesa.

At the time of writing, 4XC will credit your first deposit with a 50% bonus (capped at US$ 2,500) when you deposit through M-pesa. This offer is only available to new customers who have a kenyan phone number. Enquire about the bonus through 4xc.Com.

Please note that a flat 35 KES fee applies for deposits up to 1,500 KES. A 2.9% fee applies when you deposit over 1,500 KES.

Best execution

MT4 floating - instant execution

Trade 70+ currency pairs, spot indices, energies, metals and shares on floating spreads and instant . More trade 70+ currency pairs, spot indices, energies, metals and shares on floating spreads and instant execution. All eas are allowed.

$500 deposit

1:500 leverage ?

1.71 pips EUR/USD

Best conditions

Avatrade account [BVI]

Trade 55 currency pairs on fixed spreads, plus cfds on crypto-currencies, stocks, indices, bonds and. More trade 55 currency pairs on fixed spreads, plus cfds on crypto-currencies, stocks, indices, bonds and commodities. Avatrade accepts all metatrader eas except those with a focus on arbitrage.

$100 deposit

1:400 leverage ?

0.9 pips EUR/USD

Best platform

Premium account

Trade forex as well as cfds on cryptocurrencies, shares, indices and metals on floating spreads . More trade forex as well as cfds on cryptocurrencies, shares, indices and metals on floating spreads without commission. This account, designed for experienced traders, allows you to trade up to 60 lots per position.

$100 deposit

1:500 leverage ?

1.2 pips EUR/USD

Pro account

Professional account [EU]

$100 deposit

1:400 leverage ?

0.6 pips EUR/USD

Risk warning: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 66-89% of retail investor accounts lose money when trading cfds. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Forex brokers that accept mobile money and mpesa (2021)

If you want mobile money’s convenience and instancy, then here are the forex brokers that accept mobile money.

Trading is stressful and risky enough; when you make the profits, you want a convenient way of withdrawing your forex trading profits.

The solution, mobile money: a convenient service by telecoms and finetechs driving financial inclusion in remote places beyond the reach of mainstream banking.

In this article are forex brokers that accept all the major mobile money services like MTN mobile money, airtel money, mpesa forex brokers, and ecocash forex brokers.

What is mobile money?

Mobile money is an electronic financial service using mobile devices to send and receive money.

It is widely popular in many african and asian countries with a low penetration of VISA and other online payment services.

Thanks to telecom companies, you can deposit to and withdraw money with forex brokers that accept mobile money and forex brokers using mpesa.

Mobile money providers for funding A forex trading account

Forex brokers that accept MTN mobile money

MTN’s mobile money is arguably the most used mobile money service in africa.

So if you want to forex brokers that accept MTN MOMO in uganda, nigeria, ghana, guinea bissau, benin, ivory coast, cameroon, rwanda, and south africa, try exness, XM, and forextime (FXTM).

Forex brokers that accept airtel money.

Airtel provides a tremendous mobile money service for forex traders.

Forex brokers using mpesa

The attraction of mpesa forex brokers is it enables locals use M-pesa – a popular mobile money payment service in kenya and tanzania.

Exness, XM, tickmill, and forextime (FXTM) are the best forex brokers that accept mpesa by safaricom in kenya and vodacom in tanzania

Forex brokers that accept ecocash

If you are a trader in zimbabwe, you are not left out; exness and XM are some of the forex brokers that accept ecocash.

Quick review of forex brokers that accept mobile money and mpesa

Exness

Exness is the best forex broker that accepts mobile money and mpesa. Withdrawals are instant 24/7.

Exness’ mobile money deposit and withdraw limit is $500

When you withdraw from XM, expect the money to land on your mobile wallet within 30 minutes to 2 hours. Once in awhile, withdrawals may take 24 hours.

XM’s mobile money deposit and withdraw limit is $500

FXTM – forextime

Forextime – FXTM accepts funding a forex trading account with mobile money wallets.

FXTM’s mobile money withdraw and deposit limit is $1,500

Advantages of trading with a broker that accepts mobile money.

Withdrawals and deposits are fast.

Mobile money is available 24 hours a day

A forex broker like exness provides instant withdrawals 24/7

Over to you – what is the best forex broker that accepts mobile money in your country?

Let me know which of these brokers provides the best mobile money experience? Is there a forex broker that accepts mobile money or a mobile money service we need to include on the list?

Is hotforex A good forex broker for kenyans?: find out in our detailed review

If you are looking for a reputable forex broker in kenya, hotforex is the way to go. I will break it down for you in a nutshell.

Hotforex is one of the few online forex brokers that accept mpesa, which means ease of deposits and withdrawals for forex traders in kenya

You can open a micro trading account with as little as $5 (not that I recommend you start trading with only five dollars, but you know…)

Hotforex is an STP (straight through processor) broker which means your order is passed straight on to the liqudity providers and your bet is not hedged or manipulated like on using a market maker broker

And to top it up, hotforex offers some of the most generous bonuses to new traders. I particularly like the 100% credit bonus, which I shall be discussing shortly.

Does hotforex accept mpesa?

Open a live trading account

Hotforex review summary

feature	hotforex
minimum initial deposit	$50
forex: spot trading	yes
currency pairs (total forex pairs)	49
cfds - total offered	104
social trading / copy-trading	yes
cryptocurrency traded as actual	no
cryptocurrency traded as CFD	yes
average spread	1.2 pips on EUR/USD

Is hotforex regulated in kenya?

This is one of the forex brokers that we highly recommend to kenyans as the they accept mpesa as a means of depositing and withdrawing money from your trading account.

Hotforex account types

Hot forex offers 6 account types namely:

Micro account from only $5

Premium account from just $100

PAMM account for fund managers

Hotforex ZERO spread account

Unlimited risk free demo account

Is hotforex an ECN provider?

How long does it take to withdraw from hotforex?

One of the areas where hotforex fails miserably is on withdrawals. While many other brokers offer instant withdrawals, hotforex makes you wait anywhere from 3-24 hours to process withdrawal requests.

Forex brokers that accept mobile money

This article describes forex brokers who accept the use of mobile money for forex deposits and withdrawals. But what is mobile money all about?

Mobile money refers to money stored in an account that is operated by telecom companies, in which the user’s mobile phone and other telephony details such as the phone number are integral components of the transaction process. This is possible because phone numbers are unique in themselves, and every phone device comes with a unique international mobile equipment (IMEI) number. The unique nature of phone numbers can be enhanced by subjecting each user to biometric registration, in which physical traits that cannot be replicated in any other human being such as the fingerprint, are captured and assigned to the phone number. That way, a user can perform financial transactions over a mobile network using the phone number as a unique identification number, just the way every bank customer would have a unique bank account number, cheque books or savings passbooks of years gone by.

The mobile money payment channel is very common in africa, where it is used as a tool for financial inclusion. Many african countries and indeed countries of the middle east have large unbanked populations. Accessing services such as a forex trading account require financial inclusion, where a user of the financial system can be identified and the individual’s financial history can be profiled, in compliance with international laws against money laundering.

What forex brokers accept mobile money

The number of forex brokers that accept mobile money for deposits and withdrawals is still relatively low. Despite this fact, there are already a couple of solid forex brokers who work with mobile money.

Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage.

Between 74-89% of retail investor accounts lose money when trading cfds.

You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

¹ variable spreads vary according to the current market conditions, recorded for EUR/USD on 06.05.2020 at 10:42 GMT+1.

Forex brokers and mobile money

With the passage of the european securities and markets authority (ESMA) rules of 2018, it has become very expensive for traders to open and operate trading accounts with UK and EU forex brokers. This has led to a mass migration of traders to so-called offshore locations and loss of business for many of these EU brokers. The loss of business has hit many of them so badly, that their loud protests have caught the attention of the european commission, which has instituted a process to review the mifid II protocols that ESMA derives its regulatory powers from.

Some EU brokerages have been able to adapt to the situation by creating international divisions to handle clients from outside the EU. Africa represents a huge opportunity for forex brokers because the penetration of forex trading on the continent is relatively low. However, there is a large unbanked population in the african market. For the unbanked, mobile money represents one of the major means of transaction. This has led to a slight increase in the number of forex brokers that accept mobile money for transactions. Kenya and ghana are two countries where the use of mobile money is very high.

Forex brokers that accept mobile money in ghana have an advantage because even those who operate bank accounts also have access to mobile money. Mobile money usage in ghana is driven by telecom companies such as airtel/tigo, MTN and glo. In kenya on the other hand, the most popular mobile money payment system is vodafone’s M-pesa.

Mobile money as a funding method

To be able to get registered on a mobile money network, the user must have a phone number, with a registered SIM card matched to the user by means of biometrics. This provides an infallible means of identification, allowing the user to perform transactions on the mobile phone.

Forex brokers that accept mobile money in ghana are then able to accept deposits in the local currency, the ghana cedis (GHS). Withdrawals are also conducted in the local currency. Users have the option of operating forex accounts in the local currency (if the broker allows it), or they can still maintain foreign currency accounts, in which case the appropriate conversion rates and charges are applied.

Since the mobile money registration process also incorporates biometric registration, all data can be harmonized and checked by the brokerage’s compliance department to ensure that appropriate know-your-customer (KYC) protocols are followed.

Benefits of using a forex broker that accepts mobile money

The benefits of using an FX broker that accepts mobile money are as follows:

A) very fast deposits and withdrawals: transaction times are very fast, as transfers are processed in a matter of minutes.

B) it is a cashless method which allows the user to transact without carrying money.

C) the convenience of this transaction method is virtually unrivalled. A country like ghana has mobile money outlets on virtually every street. You can simply walk into a vendor’s shop, deposit ghana cedis with the vendor, have your mobile money wallet funded and you proceed to fund your forex account.

D) no need to fill any forms and there is no waiting time. You can do your forex account funding anytime, including weekends and holidays.

Drawbacks of using a forex broker that accepts mobile money

What are the drawbacks of using forex brokers that accept mobile money?

A) initial sign-up processes can be a hassle. There are instances of registration failure due to problems with the internet network.

B) forex brokers that accept mobile money are relatively few. This narrows the user’s choice of brokers.

Choosing a forex broker that accepts mobile money

Presently, the number of forex brokers accept mobile money in ghana and around africa are few. However, this could change quickly as more brokers are entering the african market. For a user, make sure to use online forums and other information sources to get a first-hand account on the experience others have had with the mobile money transaction process. You can also check the table above to see some of the most popular FX brokers that are accepting mobile money.

How to deposit to olymp trade using bitcoin and mpesa in kenya

Do you want to fund your olymp trade account using bitcoin?

Do you know how to do it?

In today’s post, we show you how to fund your olymp trade account from any part of the world using bitcoin.

To make the process a success you only need two things.

A bitcoin wallet (register here).

And an olymp trade account.

You can then transfer funds from your bank card /mpesa to your bitcoin wallet then use the wallet to fund olymp trade.

If you don’t have a bitcoin wallet, follow the steps outlined below to create one.

How to create a bitcoin account with bitcoin wallet.

Go to the bitcoin wallet website – bitcoinwallet.Com.

Click on the create account button on the website menu bar.

Enter your email address and password.

Confirm your password.

Check the terms button and the recaptcha button then click next.

Enter your desired username then click next.

Check your email address to verify your new account.

Once verified, log in to buy bitcoin and to fund your olymp trade account.

How to buy bitcoin with mpesa.

Click on the buy/sell button on your dashboard.

Enter the amount you’d like to buy and search all online offers.

You will see all the sellers and their payment – choose your most convenient payment method and buy.

After filling in all the info and clicking on the buy button, you will be redirected to send trade request page. Click on the button to complete the transaction.

Note, the payment window is one hour.

Deposit to olymp trade using bitcoin.

Olymp trade accepts payments from various bitcoin services including bitcoin core, bitcoin knots, msigna, breadwallet, bither, green bits, coin.Space, copay, airbitz, mycelium, and bitgo.

Demo account

:regulated

:MT4 integration

:supports all devices

:fast payouts

:instant deposits

In other words, if you have an account with either of these companies then there is no need of creating another with bitcoin wallet.

If you are new to this then I hope you have followed the guide above and even funded your bitcoin account.

Now let’s show you how to deposit money to olymp trade via bitcoin.

Click on the make a deposit button on the platform.

Choose deposit to a real account.

Select bitcoin.

Enter the amount to deposit

Confirm your contact email and click pay.

You will receive this message –

How to pay bitcoin to olymp trade.

Enter the address given by olymp trade – example – (1dfntmxvdr5ttpcunpdixijbdymvcz7wax); enter the amount you need to send e.G ($100) and click the send button.

Updated – 08/30/2019 – because most banks are now rejecting olymp trade deposits, you can use this method to fund your account. It is easy, fast and convenient.

So, let's see, what we have: if you want mobile money’s convenience and instancy, then here are the forex brokers that accept mobile money. At forex broker with mpesa deposit