If you’re looking for the best forex brokers that accept MPesa, you’ve come to the right place. In this article, we’ll provide you with a comprehensive list of the top-rated brokers that support this payment method. Forex brokers that accept MPesa in Kenya include, HotForex, FXPrimus and Naga.
* 1:500 leverage
* CMA regulated
* 1200+ instruments
* $50 min. deposit
* 1:1000 leverage
* 210+ instruments
* $15 min. deposit
* 1:1000 leverage
* 950+ instruments
* Copy trading
* 1:888 leverage
- 1 What is MPesa in Trading?
- 2 How Does MPesa Work?
- 3 Benefits of Using MPesa to Deposit or Withdraw Funds
- 4 Comparison Of The Best Forex Brokers in Kenya with MPesa
- 5 About HotForex
- 6 About FXPRIMUS
- 7 About NAGA
- 8 About FXPesa
- 9 About Pepperstone
- 10 About IC Markets
- 11 About FXTM
- 12 How To Choose The Right MPesa Broker in Kenya
- 13 Special Considerations For Kenyans Who Want to Use MPesa
- 14 Summary
- 15 FAQ
What is MPesa in Trading?
MPesa is a mobile money transfer service that has been introduced in Kenya as an alternative to the traditional banking system. MPesa is popular in Kenya and allows users to send and receive money using their mobile phones. The service is also available in Tanzania and Uganda. MPesa is convenient, fast, and secure, making it a great option for online forex trading.
How Does MPesa Work?
MPesa is a mobile phone-based money transfer service launched in 2007 by Safaricom, the biggest telecommunication company in Kenya. Since its launch, it has changed many lives and contributed immensely to the country’s economy. The service allows users to send money directly from their phones to another person with an Mpesa account.
It has over 17 million subscribers and has been growing rapidly. The service, which has been introduced as an alternative to the traditional banking system, has various features that make it easy for customers to use. Mpesa allows customers to deposit and withdraw cash from their mobile phones, send money to others, pay bills, buy goods and services, and make payments for goods on behalf of others. There are also plans for an online version of MPesa, but this has not yet been launched.
The basic idea behind Mpesa is that it is not only easier for customers to access their accounts from a mobile device but also safer from fraudsters. You will need to link your MPesa account with your forex account. This means you will be able to deposit or withdraw money from either end. The best part about this feature is that it can be accessed anywhere in Kenya. All of this will happen through a single phone number, making things even easier for you.
Benefits of Using MPesa to Deposit or Withdraw Funds
The main advantage of trading with forex broker with MPesa is convenience. The minimum deposit amount is typically very low and there are no transaction fees. What’s more, the deposits are processed very quickly and the funds are reflected in your account almost instantly. The same applies for withdrawing funds. As such, forex trading in Kenya using MPesa is easy.
Comparison Of The Best Forex Brokers in Kenya with MPesa
There are many top-rated forex brokers that accept MPesa. Some of our recommended providers for forex traders in Kenya include HotForex, FXPrimus, and Naga.
HotForex was first set up in 2010. They have a large client base in Kenya and offer their online trading to over 3,500,000 traders worldwide. They have a great reputation for being a reliable forex broker and, over the years, have earned more than 60 awards in recognition of their services.
As a regulated forex broker, HotForex offers a secure trading environment and excellent trading conditions. They give you access to 1000+ trading instruments including forex, metals, energies, shares, indices, and commodities. They have a nice selection of account types – all of which come with tight spreads, low commissions, high leverage, and fast trade execution. You can also trade using some of the best online trading platforms in the industry – MetaTrader4 and MetaTrader5.
If you’re looking for good customer support, then HotForex Kenya is a great choice. They offer many helpful features including calculators, premium trading tools, market analysis tools, copy trading services, and VPS services. They also offer educational materials such as trading guides, individual articles, eBooks, video tutorials, webinars, and online courses. And, in addition, HotForex also provides excellent multilingual support.
Does HotForex have MPesa? Yes, of course. HotForex is one of the top forex brokers with MPesa. It offers a nice selection of payment methods including MPesa. It is very easy to fund your account and withdraw your money.
FXPRIMUS was first set up in 2009. They are a regulated forex broker with a licence issued by CySEC. They are a reliable company that ensures a secure trading environment and a high level of client fund protection. As such, they have a great reputation within the forex industry and won many awards. FXPRIMUS provides a great online trading service. They offer trading on over 1000+ instruments including forex, shares, indices, metals, energies, and commodities. They also offer a wide range of account options. You can choose from 4 different account types – all of which come with tight spreads, low commissions, and fast trade execution. You can also choose from three of the best online trading platforms – cTrader, MetaTrader4, and MetaTrader5.
When it comes to trading support, FXPRIMUS offers some great resources including trading calculators, premium trading tools, market analysis tools, copy trading services, and VPS services. They provide free learning resources such as articles, video tutorials, and educational courses. And on top of all that, FXPRIMUS also provides great customer service and multilingual trading support.
Does FXPRIMUS have MPesa? Yes, of course. FXPRIMUS offers a great selection of payment methods including MPesa. It is very easy to deposit and withdraw money.
NAGA is an online broker that envisions financial inclusion for everyone. It is a social investing network that provides innovative technology and access to trade over 800 assets on its cutting-edge platforms. Founded in 2015, NAGA is the trademark of the ‘NAGA Group AG’ which has its head office in Germany and other offices across the world. Its shares are publicly traded on the Frankfurt Stock Exchange.
NAGA offers an excellent online trading service. They offer leverage trading on a wide range of CFD instruments including forex, shares, indices, commodities, and cryptocurrencies. They also offer great trading conditions. Their live trading accounts come with tight spreads, low commissions, and fast trade execution. They also come with user-friendly trading platforms and helpful copy trading technology.
Does NAGA have MPesa? Yes, of course. MPesa is just one of several payment methods available at NAGA. Funding your account is quick and easy, and their customer service team is there to help if you have questions.
FxPesa was first launched in 2016. It is a regulated online forex broker in Kenya and provides services to the East African market. Despite being a relatively new broker, FxPesa has already earned a solid reputation for offering a reliable online trading service.
FxPesa places a high value on offering great trading conditions and an enjoyable customer experience. Their goal is to give forex traders the best possible trading conditions including fast trade execution. As such, they have a competitive account offering with two main options for forex traders. They give all their traders access to a wide range of financial markets – including all major forex pairs. They also offer affordable trading accounts with low minimum deposits, tight spreads, and low commissions.
FxPesa also does its best to offer great forex education and trading support. Their aim is to help traders gain the skills they need to trade successfully. They offer a great selection of educational materials including webinars, eBooks, guides, glossaries, and infographics. They also provide access to daily market news. When it comes to trading tools, FxPesa gives its clients access to one of the world’s best trading platforms – MetaTrader4. This, in combination with their excellent trading conditions and client support, enables them to offer an all-round great trading experience.
Pepperstone was first established in 2010. They are an international company with offices in Limassol, Düsseldorf, London, Melbourne, Dubai and Nairobi. As a regulated forex broker, Pepperstone offers great trading conditions and a secure online trading environment. They have won many reputable forex awards and earned the trust of over 300,000 clients. They also process around US$12.55bn in trades every day, making them one of the biggest forex brokers in the world.
When it comes to trading, Pepperstone is one of the top service providers in the forex industry. They give you access to 1000+ trading instruments including forex, cryptocurrencies, metals, shares, indices, and commodities. They offer a nice selection of accounts. You have the choice of 2 different account types – both of which come with tight spreads and fast trade execution. You can also choose from three of the best online trading platforms – MetaTrader4, MetaTrader5, and cTrader.
In addition to a superb trading environment, Pepperstone also offers first-rate online trading support. They have a great range of tools including VPS services. They also offer free educational resources such as articles, eBooks, and forex trading webinars. And for those with questions, Pepperstone also provides great customer service and multilingual support.
IC Markets is one of the best forex brokers with MPesa. It also offers many other convenient payment methods such as debit card, credit card, wire transfer, and e-wallets.
About IC Markets
IC Markets is a top-tier forex broker with a strong focus on competitive pricing and fast trade execution. The company has been offering online trading services since 2007, and has proven itself to be a reliable ECN broker. Their client base includes both retail traders and institutional investors. It offers a great range of account types, making them suitable for traders with all levels of experience and capital. It also offers a wide range of trading instruments, making them a strong choice for traders looking to trade forex and other assets in Kenya.
In terms of trading technology, IC Markets offers some of the best available platforms for forex traders in Kenya. They have the MT4, MT5, and cTrader platforms – all of which are easy to use and come with helpful tools for new traders. They also offer a small range of other trading tools. For example, it has a free trading calculator that you can use to calculate the current pip values in your account. It also has a free economic calendar that you can use to stay on top of data releases and upcoming events that might affect market prices.
In terms of payment methods, IC Markets is one of the top forex brokers with MPesa. It allows traders to easily deposit and withdraw money. It also offers many other convenient payment methods such as debit card, credit card, wire transfer, and e-wallets.
Forextime (FXTM) is one of the world’s fastest growing forex brokers. It was first established in 2011. The group has a global network of offices spanning Europe, Africa, Asia and Latin America. They have a large international client base and have already attracted over 4 million clients across 180 countries.
In terms of trading, FXTM aims to offer accounts for every type of trader. It has an impressive selection of trading instruments including currency pairs, precious metals, stocks, indices, and commodities. It also offers great trading conditions complete with tight spreads, high leverage, and low commission. What’s more, FXTM provides a great range of trading platforms and trading support tools.
In terms of payment methods, FXTM allows traders to deposit and withdraw money using MPesa. It also offers many other convenient payment methods such as debit card, credit card, and wire transfer.
How To Choose The Right MPesa Broker in Kenya
Forex trading in Kenya using MPesa is easy. Before opening an account, it’s important to consider what other features you would like your forex broker to offer. For example, if you’re a new trader, would you prefer a company with micro trading accounts and low minimum deposit requirements? Or would you prefer a company with copy trading tools and great educational resources? Let’s look at a few things you need to consider.
- Regulation – Reliable forex brokers are licensed by at least one reputable regulatory authority. If you live in Kenya, then you may benefit from choosing a forex broker with a CMA licence. This would mean that the forex broker is regulated by your local authorities. It would also mean that the company is required to offer additional client fund safety measures, such as segregated accounts and negative balance protection.
- Trading Conditions – Top forex brokers in Kenya will offer you the option to choose from a wide range of trading instruments. If you’re interested in forex trading, then you may benefit from choosing a forex broker with a good selection of major, minor, and exotic currency pairs. Look for forex brokers that also offer you the opportunity to trade with high leverage, low commissions, and tight spreads. This will ensure you can potentially lower your trading costs and keep more of your trading profits.
- Minimum Deposits – Good forex brokers will offer at least one low-cost account type. If you’re new to forex trading, then you might want to start small. This could mean choosing a forex broker with a lower minimum deposit. For example, HotForex has a minimum deposit of just $5. Try to look for forex brokers that have micro account types, an affordable minimum deposit, and a selection of quick, convenient payment methods – like MPesa!
- Trading Tools – The best forex brokers will usually offer a good range of free trading tools. If you’re new to forex trading, then having access to basic tools like trading calculators and economic calendars is essential. These types of tools can help you to manage your risk and anticipate periods of high market volatility. Be sure to a broker that also offers access to more advanced trading tools such as EAs, chart indicators, and free daily market analysis. These types of trading tools can help you develop your trading plans and implement more complicated strategies.
- Forex Education – Good forex brokers will make sure you have the educational resources you need to become a better online trader. If you’re new to forex trading, then having access to good learning materials is very important. For example, HotForex provides free access to many helpful online training videos. These types of resources will help you learn the basic forex trading terminology. They will also enable you to learn about important trading concepts such as trading psychology and risk management. Look for a broker that offers free access to online trading courses, educational videos, and in-depth forex trading guides.
- Customer Support – Good forex brokers will be readily available and will do everything they can to offer good customer service. If you’re a new forex trader, you’ll want to be able to talk to someone about your account when you have questions.. Be sure to choose a forex broker with a good online reputation and with a friendly, helpful customer support team.
Special Considerations For Kenyans Who Want to Use MPesa
MPesa is a mobile phone-based money transfer service. Your MPesa account will be linked to your trading account. For this reason, it is important to take the necessary security precautions and to keep both accounts safe.
In conclusion, forex trading in Kenya with MPesa is easy. The main advantage of using MPesa to fund your account is easy access. The minimum deposit amount is usually very low and there are no transaction fees. What’s more, the money is transferred very quickly and the funds are reflected in your account almost instantly. The same applies for withdrawing funds.
No, M-Pesa is specifically designed to help people who have no access to banks – either because they do not have a bank account or because they live too far away from a bank. All you need is a mobile handset and you can send money from any location. That’s why forex trading in Kenya with MPesa is easy.
Yes, forex trading via MPesa works in Kenya. MPesa is regulated by the Central Bank of Kenya. It allows users to send and receive payments in Kenya Shillings via a mobile device. MPesa is very popular in Kenya. This is because it offers traders in Kenya a secure way to add funds to their trading accounts.
There are many reputable trading brokers that accept MPesa. When choosing a forex broker, it’s important to look for a regulated company that offers great trading conditions and a reliable service. It’s also important to choose a safe company that offers a high level of client fund protection.
If you’re looking for the best forex brokers with MPesa, we suggest taking a look at Hotforex, FXPrimus, Naga, FXTM, or Pepperstone. All of these companies are registered with reputable regulatory authorities. They also have a great reputation within the industry for offering a safe trading environment and excellent customer service.
There are many brokers accpeting MPesa deposits. The minimum deposit depends on which forex broker you choose. The minimum deposit for MPesa transfers is sometimes between $1 and $10, depending on your chosen provider.
To start trading forex in Kenya using MPesa you must take the following steps.
First, you must find a reliable forex broker that accepts MPesa as a payment method.
Next, you must register with them for an online trading account.
Then, after you have registered, you will often need to verify your identity and your contact details. Once the company has confirmed your details, they will then verify your trading account. Finally, you will need to fund your account using MPesa. Once the company has processed your funds, you will see your deposit reflected in your online trading account. Then you can start trading. There are many forex brokers with Mpesa in Kenya, for a full list, see the table above.