Forex brokers accepting M-Pesa are rapidly growing in popularity. It is a very convenient payment method and tends to be much quicker than bank transfers.
The payment system was launched in 2007 by Vodafone and currently represents the largest mobile transfer network in Kenya and Tanzania. It is also available in South Africa, Afghanistan, India, and Romania.
1. HotForex
HotForex is a forex broker that offers a variety of trading accounts and tools. It also provides superior customer service and lightning-fast trading speeds.
Moreover, HotForex has industry-standard security measures in place. It has a civil liability insurance program that protects its user funds and third parties from omissions, errors, fraud, negligence, and other risks.
HFM is a global Forex and CFDs brokerage firm established in 2010 with multiple offices worldwide. It provides clients with a choice of 7 account types and trading platforms, along with tight spreads averaging EUR USD 0.1.
2. FxPesa
FxPesa is a Kenya-based forex and CFD broker from the Equiti Capital Group. It’s licensed by the Capital Markets Authority (CMA) and operates as an ECN.
They offer two live account types, Executive and Premier, and swap-free Islamic accounts for Muslim traders. Spreads start at 1.4 pips on the Executive account and 0 on the Premier account. Commission fees are also charged on trades.
3. LiteForex
LiteForex offers a wide range of assets to trade, including forex, CFDs on stock indices and commodities, and shares. It is regulated by CySEC and operates in multiple jurisdictions worldwide.
Traders can also benefit from a demo account that enables them to practice their trading strategies before investing real money. It requires no deposit and is free of charge to use.
LiteForex is a reliable broker that offers 24-hour customer support via email and live chat. They also provide a personal account manager and a MetaTrader 4 desktop platform.
4. FXTM
FXTM offers a range of trading products, including forex and CFDs. The broker also provides a wide selection of trading platforms, including MetaTrader 4 and 5.
The broker also has some educational resources to help traders of all experience levels learn the basics and advanced techniques of forex trading. These include webinars and seminars.
The broker also offers a copy-trading service, which allows both novice and professional traders to receive passive income from the trades of experienced traders. It also has a particular technical analysis module that helps users visualize sentiment and price direction.
5. ExpertOption
ExpertOption is a multi-asset broker that allows traders to trade forex, stocks, commodities, and cryptos. It offers various account types and supports over twenty payment systems.
It also supports social trading, a helpful feature that lets clients watch the deals of seasoned traders to get inspired to try out new strategies. The platform also provides a range of educational materials for users.
It is regulated by the Vanuatu Financial Service Commission (VFSC) and is PCI DSS compliant. It charges a $5 commission on winning trades and takes up to 5% of payouts, which is lower than the industry standard of 15%.
6. Scope Markets
Scope Markets is a global online broker with MetaTrader 5 access, competitive trading conditions and multiple account types. They also offer a range of deposit and withdrawal methods, a client portal login and education material.
Traders can trade on over 250 spot and CFD instruments from the MT4 or MT5 platforms. This includes forex, shares, commodities, indices, and more.
7. Exness
Exness is an award-winning forex broker that offers a wide range of products to its clients. The broker also provides reloadable MetaTrader demo accounts and multiple account types, which makes it a good choice for both advanced and novice traders.
Traders can trade on various assets, including forex and CFDs on metals, energies, cryptocurrencies, indices, and stocks. They can also benefit from minor to zero trade commissions, free spreads, and fast order execution.
This forex broker offers a full suite of trading tools, educational resources, and support. They also have a partnership program that rewards traders for referrals.