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 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.
Let’s dive in.
First.
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 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).
Forex Brokers that accept Airtel Money.
Airtel provides a tremendous mobile money service for forex traders.
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.
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 $985
 Open an Account | Quick info Founded: 2008 Regulator: FSA, Seychelles Minimum deposit: $1 Leverage: Up to 1:2000 Average spread: 0 (Zero and Raw spread) 0.3 – Standard Platforms: MT4, MT5, Web, Mobile |
| Why trade forex with Exness. – Super tight spreads – Instant automated Withdrawals and deposits 24/7 – Multiple withdraw and deposit methods – Negative balance protection – Regulated broker – Mpesa and Mobile money broker – Funding in local currency |
XM
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.
XM’s mobile money deposit and withdrawal limit is $130
You can not withdraw profits to Mobile Money. (You can only withdraw your deposit to mobile money, use alternative methods to withdraw profits)
 Open an account | Quick info Founded: 2009 Regulator: CySEC Cyprus, IFSC, FCA United Kingdom, ASIC Australia, DFSA Dubai Base currency: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR Minimum deposit: $5 on Standard and Micro and $50 on XM Ultra-Low Account Leverage: Up to 1:888 Average spreads: 1 pip (Standard and Micro) 0.6 – on XM Ultra-Low Account Platforms: MT4, MT5, Web, Mobile |
| Why trade forex with XM. – Multiple withdraw and deposit methods – Supports mobile money funding – Negative balance protection – Regulated in many countries |
HotForex
With Hotforex, you can use mobile money to deposit and withdraw up to $1,000
 Open an Account. | Quick info Founded: 2010 Regulator: FCA United Kingdom, FSA Seychelles, DFSA Dubai, FSCA South Africa Account currency: USD, EUR, GBP Minimum deposit: $5 Leverage: Up to 1:1000 Average spreads: EURUSD – 1 pip, GBPUSD Commissions: $7 per lot round-turn on the Zero Spread account. Platforms: MT4, Web, Mobile |
| Why trade forex with HotForex. – Up to 100% trading bonus on deposits on some accounts – Multiple withdrawal and deposit methods – Tight spreads on the Zero spread account – Regulated in many countries – Negative balance protection |
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
 Open an Account | Quick info Founded: 2011 Regulator: CySEC – Cyprus, FSCA – South Africa, FCA – UK. Minimum deposit: $10 – Cent. $100 Standard. $500 ECN Leverage: Up to 1:2000 Average spread: 0 -1.5 ECN. From 1.3 – Standard Platforms: MT4, MT5, Web, Mobile |
| Why trade forex with ForexTime. – Super tight spreads – Multiple withdraw and deposit methods – Easy to open verify an account – Regulated broker – Accepts Mobile Money |
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?
