10 rows · Some FX Brokers offer M-Pesa in a co-operation with DusuPay or iPay, which are payment providers 01/12/ · The broker charges a flat fee of KES or TZS when depositing or withdrawing with M-Pesa. The first minimum deposit is $ After that the minimum amount Forex brokers that accept MPesa in Kenya include, HotForex, FXPrimus and Naga. MPesa is a mobile money transfer service that has been introduced in Kenya as an alternative to the In comparison, it can take anywhere between 2 and 3 business days for bank transfers to complete. 4XC (blogger.com) is the only broker in our panel to accept deposits through M-Pesa. 16/02/ · 10 Best Forex Brokers With Mpesa Deposits & Withdrawals 1. XM Forex. XM Forex is one of the best forex brokers with Mpesa. The broker has consistently featured on ... read more
Overall Fees: The factors considered here are spread, commissions, and charges on withdrawals and deposits. Some of them also levy extra fees where you are trading other CFD instruments. So, it is vital to research the overall fees of the asset that you are seeking to trade. All regulated CFD brokers have spread comparison table.
Make sure to check the fees for the instrument that you want to trade, and see if there is any other regulated broker offering the same instrument at lower fees. Like, the broker in the below table has 0. There are other brokers with lower fees also. For ex. But if your account is in another base currency like USD, then your funds may be converted into KES at a lower exchange rates than the actual rates. So, you need to consider this commission too. Although it is not necessarily that the broker is charging this fees, it could be their gateway charging this conversion commission.
Also, there must be multi-device support, quick execution, no freezing, and multiple order types. These can significantly enhance your trading comfort. All the 4 regulated forex brokers in Kenya offer the MetaTrader platform. Look for all the features that you would need to actively manage your trading positions. In generally, all the 6 regulated forex brokers have the same KYC procedure. And the trading account is normally approved within the same day, if all the documents are complete.
You must make sure to submit your genuine documents, otherwise you would face issues during withdrawal of funds from your trading account.
Overall Trading Conditions: The execution of orders must be fast without slippage or re-quotes. The best option is to choose a Broker offering Direct Market Access than Market Maker Brokers.
You must also be offered negative balance protection so that the loss does not exceed the account balance. Availability of guaranteed stop-loss protection is also an advantage. The Broker must also offer funds segregation for the security of funds. You must also check if the instrument that you are looking to trade is offered for the lowest fees or not. How is the Customer Support: Customer Support must be accessible 24X5 through Live Chat, E-mail, and Phone.
The Chat Support must be helpful with minimal hold time. The E-mail revert to your queries must be quick and preferably within 1 or 2 hours max. The local phone number support in Kenya will be another plus point. The Knowledge base must provide instant solutions. Check if the broker has a Kenyan phone number on their website. Also, the local brokers will have an Office address where you can visit.
All the 6 regulated Non-dealing forex brokers in Kenya have these info on their website. They have listed their Kenyan phone no. on their contact page. If you are looking for a local broker that has office in Kenya, then we recommend FXPesa , which is the brand of EGM Securities — a CMA regulated broker.
What is the minimum deposit required for Forex Trading using MPesa? This depends on the broker that you are choosing. You should start by learning forex trading.
If you are a beginner then start by reading our Forex Trading for Beginners guide. TradeForexKenya Editor Last Updated: February 11, Leverage Available Instruments Visit.
Leverage: for FX, for CFDs. Available instruments: 44 currency pairs, 19 CFDs. Leverage: for FX with Standard Account. Visit FXPesa. Regulations: CMA Kenya Minimum Deposit: Ksh. So, considered safe. The fee structure is very simple. Their support is very good. They also offer local phone number for support to traders in Kenya. FXPesa Cons Higher spreads of 1. Limited CFD instruments other than forex. Read detailed FXPesa Review. Visit Hotforex. So they are considered a safe broker for trading forex in Kenya.
STP Straight through Processor forex broker, so there is no conflict of interest. No fees are charged for your withdrawals or deposits, including no fees for MPesa. Quick execution of trades. Spreads are tight. Excellent and very helpful Customer Support.
Hotforex Cons Not regulated with CMA in Kenya. Does not offer local phone support in Kenya. Read detailed Hotforex Review.
Visit XM. Please note that a flat 35 KES fee applies for deposits up to 1, KES. eToro risk warning: eToro AUS Capital Limited ACN AFSL OTC Derivatives are leveraged financial products and considered speculative. OTC Derivatives may not be suitable for all investors.
You don't own the underlying assets. You risk losing all of your investment. This information is general only and has been prepared without taking your objectives, financial situation or needs into account. Consider our Product Disclosure Statement PDS and TMD. See full disclaimer. Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Disclaimer: TrustedBrokers. com does not accept deposits, advise on investments, deal in investments as agent or principal or arrange deals in investments.
Sign-in 🇹🇿. It has two kinds of accounts, standard and ECN accounts. Unfortunately, FXTM is known for having a high spread, especially for live spreads.
The phone call service runs only during market days. However, they are relatively quick when it comes to responding to clients. It remains to be among the best forex brokers in Kenya with Mpesa option. Among the trading platforms that accept Mpesa is Tickmill. It is, however, safe and regulated with Tier 1, Tier 2, and Tier 3 regulators authorized by the FCA UK. Founded in , Tickmill offers three separate accounts, namely Classic, Pro, and VIP accounts. It enables forex trading in Kenya using mpesa.
Tickmill has relatively cheap spreads of as low as 0. Therefore, the total cost equals 0. First, you can get help through emails, live chats, or a phone call as a member. They have a social support system that is very fast at responding to client requests. They are regulated by the FCA UK , FSA, and FSCA, known as Tiers 1 and 2 regulators. They have different accounts for their members, such as Premium, Auto, Micro, PAMM, HFCOPY, and Zero Spread accounts.
Hotforex supports credit cards, debit cards, bank transfers, wire transfers, E-wallets, and mobile payments. To deposit:. The spreads at Hotforex are determined for the Zero Spread account. For example, the EURUSD currency pair is 0.
However, the spread may go to as high as 1. Their response time is relatively fast. It may not be the best forex broker in the market, but they worth mentioning. Liteforex was founded in and boasts of over , clients worldwide. It uses over 14 languages globally and remains supported in several well-known trading platforms like the MetaTrader 4 and 5. It has leverage that can go up to and has different accounts, namely Classic and ECN accounts. They support mobile payments, bank and wire transfers, credit and debit cards, and cryptocurrencies.
This means that Liteforex uses variable spreads, which is much cheaper than fixed spreads. As a result, the spreads are competitive, but for the highly used currency pairs such as EURUSD, the spread can go as high as two pips. Customer support can be in the form of emails, live chats, and a phone call. They can help members around many issues they may be facing and have a good response time. In addition, the phone call has a relatively easy hold making them one of the best forex brokers in Kenya with Mpesa option.
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Trading is stressful and risky enough; when you make the profits, you want a convenient way to withdraw 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. 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. So if you want forex brokers that accept MTN MOMO in Uganda, Nigeria, Ghana, Guinea Bissau, Benin, Ivory Coast, Cameroon, Rwanda, and South Africa, try Exness , XM , Hotforex , and Forextime FXTM. Exness , XM , Hotforex , 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.
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.
If you are a trader in Zimbabwe, you are not left out; Exness and XM are some of the forex brokers that accept EcoCash. Exness is the best forex broker that accepts mobile money and mpesa. When you withdraw from XM, expect the money to land on your mobile wallet within 30 minutes to 2 hours. Once in a while, withdrawals may take 24 hours. You can not withdraw profits to Mobile Money. You can only withdraw your deposit to mobile money, use alternative methods to withdraw profits. 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? Forex Brokers The Best Forex Brokers A guide to Copy Trading How To Choose a Forex Broker No Deposit Forex Brokers Forex Broker Reviews XM ForexTime FXTM Exness TICKMILL HotForex IC Markets Forex Brokers by Continent Forex Brokers in Africa Forex Brokers in Asia Forex Brokers in South America Forex Brokers in Europe Forex Brokers in Middle East Trading Articles Trading Psychology Trading Strategies Trade Ideas Forex Rebates Coaching.
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Platforms: MT4, Web, Mobile. Why trade forex with HotForex. Quick info Founded: Regulator: CySEC — Cyprus, FSCA — South Africa, FCA — UK.
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08/05/ · 10 Best Forex Brokers in Kenya With Mpesa ( List) XM Forex– Huge Deposit Bonus (Up to $ in bonuses) Pepperstone Markets Kenya; FxPesa – Best Mpesa Forex Forex brokers that accept MPesa in Kenya include, HotForex, FXPrimus and Naga. MPesa is a mobile money transfer service that has been introduced in Kenya as an alternative to the In comparison, it can take anywhere between 2 and 3 business days for bank transfers to complete. 4XC (blogger.com) is the only broker in our panel to accept deposits through M-Pesa. 26/08/ · Below is the list of Best Forex Brokers in Kenya accepting Mpesa: FxPesa – Best Forex broker for Trading with MPesa; Exness-Forex Trading with MPesa at Low Fees; Scope 30/10/ · 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 $ XM 01/12/ · The broker charges a flat fee of KES or TZS when depositing or withdrawing with M-Pesa. The first minimum deposit is $ After that the minimum amount ... read more
Traders can hold more than one account type. However, the spread may go as high as over 2 pips, but it is similar to its other brokers in forex trading. Compare brokers that accept M-Pesa for deposits and withdrawals to and from your trading account. Only the Shares account has commission fees. Click here to visit LiteFinance ». Its trading assets also include 4 Cryptocurrencies, CFDs on 56 shares, 8 Commodities, leading 11 Indices globally, 3 top global Bonds, Energies such as Brent Oil, Crude Oil, US Natural Gas, and Spot Metals — Gold and Silver.How much minimum brokers with mpesa is required for Forex Trading in Kenya via MPesa? Their support is very good. average spread of 1. Start Trading with Exness- A trusted Forex Broker. This is via Live Chat and E-mail.