6 rows · 26/08/ · Below is the list of Best Forex Brokers in Kenya accepting Mpesa: FxPesa – Best Forex 5 rows · 25/05/ · 6 Best Forex Brokers in Kenya that Accepts MPesa. FxPesa – Local Regulated Forex 17/06/ · Pepperstone – Best Overall Forex Broker in Kenya; FXTM – Best Forex Trading Platform 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 trading in Kenya using MPesa has skyrocketed the past few years and the easiest deposit and withdrawal option at the best brokers. Forex brokers that accept MPesa in Kenya include, ... read more
Deposits and withdrawals are carried out across different platforms. HotForex offers a large variety of instruments such as forex, metals, energies, indices, shares, commodities, stock DMA, ETF and bonds. Trading on HotForex is carried out on the MT4, web and MT5 platforms which are available on different devices.
Scope Markets is a Kenya based forex and CFD broker that is regulated by CMA accepts deposits and withdrawal through mPesa. Scope Markets is regulated by the Capital Markets Authority CMA of Kenya with license number The legal entity of Scope Markets is registered as SCFM Limited for the clients residing in Kenya. Scope Markets is an international forex brokers that accepts clients from multiple nations and is also regulated by CySEC of EU and FSCA of South Africa.
The spreads start from 0. Clients can trade with more than CFD instruments including 44 currency pairs at Scope Markets. They support the most widely used MT4 and MT5 trading platform with the same account account type and pricing structure.
The customer support services at Scope Markets is excellent for the Kenyan clients. Support staff can be reached out through phone, live chat, and email. For Kenyans looking forward to trading in the global forex market, one of the requirements you need is a broker.
In this guide, we have curated factors to be considered when choosing a forex broker. In Kenya, the regulatory authority is the Capital Market Authority CMA. Only six brokers are registered and regulated by the CMA. They are FXPesa, Pepperstone, Scope Market Kenya, and FXTM. Note: In the event, that a broker is not registered by the CMA, a search result of its name on the CMA website will be zero results found.
Exness was used as an example here. Or you can check the list of Licensees under CMA, and there you can check the list of all the approved Online Forex Brokers. Refer to the following screenshot.
You can download the document, and there you will find the list of all the updated CMA Licensed Forex Brokers in Kenya. There are 6 Licensed Forex brokers currently, and 4 of these forex brokers accept MPesa currently as per our check including FXPesa, Scope Markets, PepperStone, and HotForex. Some brokers have found a way to levy charges using spreads.
High spreads are used as a cover for zero fees. A trader should check properly for the spread on different instruments. Not only on currency pairs do these charges differ, some brokers do charge special commissions on CFDs, stocks, indices, and even for dormant accounts.
Hence, it is important a trader conducts thorough research on the broker and fees on the instruments he wishes to trade. Suitability of Trading Platform: For trading to go on with ease, the trading platform should be suitable for the device of the trader. Most brokers use the MT4 and MT5 trading platforms. The trading platform should also have instant execution and multiple order types to facilitate quick execution.
Quick withdrawals and fast KYC verification are attributes of a very good trading platform. On FXPesa for example, withdrawals via mobile payment options like MPesa are free and take three hours. A trader should also look for negative balance protection.
Brokers who offer negative balance protection should be considered. Finally, the number and classes of instruments on offer together with their fees should be properly researched before deciding on the broker to trade with. Which MPesa accepting Forex Brokers are regulated in Kenya? You can check out my full review of MTrading here. Pepperstone allows trading of multiple financial assets as well as a good selection of payment methods for deposits and withdrawals.
Currently, traders with Pepperstone trade various items, not only Forex but also gold, energy commodity, soft commodity, and cryptocurrencies. Pepperstone offers different payment and withdrawal methods including Bank Wire, Credit Card, Neteller, WebMoney, PayPal, and M-Pesa. The broker offers 4 different account types, that is Edge Standard, Edge Razor, Edge Swap-Free, and Edge Active Traders. The availability of 4 different accounts helps users in finding a platform that is best suited for them.
We have a comprehensive review of Pepperstone. Clients can access markets through an MT4 download or the Sirix web trader platform.
It was founded in by a group of international traders. The company has since grown to become the largest online broker in South Africa with headquarters in Johannesburg. CMTrading offers 50 forex pairs, from majors to minors and exotics, CFD trading on close to 20 stock indices, such as the FTSE and Nasdaq, plus shares on large companies. In addition, traders can speculate on the price of precious metals, energies, and a handful of cryptocurrencies, such as Bitcoin. Check our full review of CMTrading and learn more about its platform, pros, and cons.
Scope Markets is a global online trading broker, offering both leveraged and investment products that cover forex, commodities, shares, and indices. It offers MT5 as the trading platform for the assets that it provides. Clients can open either a CFD account or an Investment account. The CFD provides access to leveraged instruments for shorter-term trading approaches, while the latter allows the exchange of equity shares.
Scope Markets is also regulated by CMA in Kenya you check other brokers regulated in Kenya by CMA. To get to know more about the broker you can check our Scope markets comprehensive review. Exinity is a part of Exinity Group, a new global wealth management organization backed by 20 years of experience in trading and investment. The parent company also runs the established FXTM and Alpari Group brokerage firms.
Exinity Group Limited is regulated across several countries including in Kenya by Capital Markets Authority. Exinity offers clients trading opportunities in assets like Indices, Stocks, Forex, and Commodities. Exinity offers MetaTrader 4 MT4 and MetaTrader 5 MT5 trading terminal options. Finally, we recommend that you use XM because the spreads are minimal and they have the best customer support.
But on another hand, if you wish to trade binary options and indices we recommend you go for Deriv. I hope this article helped you to highlight forex brokers that accept Mpesa in Kenya. We will keep updating it once we come across new brokers that accept Mpesa. XM Global was established in in Belize. And XM Global is part of XM Group. It serves clients in Read more. Our IG Group review covers everything from spread Read more.
In this article, I am going to review CMA regulated forex brokers in Kenya. In recent days several offshore brokers Read more. His blog is read by over , every month and he has taught over 5, students from all over the world since Thanks for choosing to leave a comment.
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Home » Brokers » Reviews » 16 Forex Brokers That Accept Mpesa in Kenya. Table of Contents 1. XM GLOBAL 2. HotForex 3. Exness 4. FXPesa 5. LiteForex 6. FXTM 7. ExpertOption 8. IQ Option 9. com SuperForex Olymp Trade Click here to visit XM Group ». Click here to visit LiteFinance ».
Click here to visit Tickmill ». Click here to visit Pepperstone ». Click here to visit FXTM ». Click here to visit SuperForex ».
We've listed some Best Forex Brokers that accepts MPesa from Kenya traders. For you we have reviewed many forex brokers that accept MPesa from Kenya. Check and Compare all such brokers. Forex trading is one of the most important financial markets all over the world. If you are thinking about signing up for an account with a forex broker to trade on the Kenyan market, then this post is for you.
You could register with one of the six Kenyan forex brokers that accept M-Pesa and credit your account instantly. Many foreign brokers that accept MPesa are unregulated or not safe. FxPesa is a local forex broker in Kenya registered as EGM Securities Limited and is one of the only 6 forex brokers that is regulated in Kenya under the CMA.
You can access the FxPesa trading platform on the web, MT4 trader and mobile applications on Android and iOS devices, from which you can trade Forex and CFDs on Indices, over 60 currencies pairs, Shares, Commodities, and they accept MPesa. FxPesa offers traders two account types. FxPesa offers free deposits to traders. While direct wire bank transfers take days to credit to the trading account, payments through cards, e-wallets Skrill, Neteller , and mobile money MPesa are credited instantly.
Withdrawals to Kenyan bank accounts are received within days and have no fees. Withdrawals to MPesa is received in 3 hours and is free of charge. It is important to note that withdrawals are only sent to the same account from which the deposit was made and withdrawals initiated after PM EST are processed the next day.
FxPesa has email and toll-free phone number support for traders in Kenya. The Exness Group is a leading financial services provider founded in that offers trading in financial instruments and CFDs including stocks, currency pairs, cryptocurrencies, metals, energies, and indices. This makes them safe to trade with. Exness has MT4, MT5, and WebTerminal trading platforms, with mobile apps available on the App Store and Google Play Store.
Traders can choose either the standard account which has an average spread of 1. Exness also offers Islamic accounts with zero spreads and swaps.
Offers deposit and withdrawals via MPesa. Cards, mobile money, and e-wallets deposits are credited instantly while withdrawals to e-wallets are instant, it takes about 72 hours for card withdrawals to be credited. Deposits and withdrawals made with cryptocurrencies are executed in 72 hours. Exness have support via email, phone number no local phone in Kenya and live chat. Their live chat virtual assistant starts by showing you some answers to frequently asked questions FAQ and you can request to be transferred to a live agent.
Response time was under 5 minutes. Scope Markets Kenya is a CMA regulated broker, that offers forex and CFDs trading on Futures Indices, Cash Indices, Commodities, and Shares. They also hold a license to trade in derivatives. Scope Markets Kenya has two account types for traders, Gold and Silver. Their trading platforms are MT5 on the web, iOS, and Android. Payment methods accepted are cards, e-wallets, MPesa, and direct bank transfers.
The app has calculators for pips, margin, swaps, and profit. There are no deposit or withdrawal fees on Scope Markets and all accounts are swap-free with maximum leverage of Deposits made via MPesa are credited instantly, while bank transfers take up to 24 hours. Scope Markets Kenya has an office in Nairobi, offer support via email, a local phone number, and live chat that responds within 2 minutes on weekdays.
XM is licensed by CySEC and Financial Services Commission FSC , Belize, which makes them score moderate on trust and safety of funds for traders. XM account types are Micro, Standard, Ultra Low, and Shares, with an option for an Islamic account. Traders can hold more than one account type. All accounts have negative balance protection that prevents traders from losing more than the money in their trading account. There are no deposit or withdrawal fees. Only the Shares account has commission fees.
Spread is 0. If there is no free balance, then no fee is charged. You need to log in to your account to view the deposit methods. XM accept MPesa, and you need to select the Mobile payment method in the deposit methods in the XM panel to see it.
Deposits made via bank transfers and MPesa can take up to 5 days to be credited, while cards and e-wallets deposits are credited instantly. Withdrawals to MPesa, e-wallets, bank accounts, and cards are processed within 24 hours.
XM has email, international phone and fast and responsive live chat support, that is available 24 hours Monday through Friday.
They also have an educational section on their website for traders. FXTM is a leading online forex broker in Kenya that is regulated under the CMA as Exinity Group. They are registered as ForexTime Limited in Cyprus and are well regulated by the CySEC, FCA and FSCA. FXTM offers a range of financial products and CFDs on currencies, cryptocurrencies, shares, and commodities. Trading accounts are categorized into Micro, Advantage, and Advantage plus.
Also, offer demo accounts for new traders to learn. Micro and Advantage plus accounts attract zero commission and spread fees from 1.
Zero deposit fees apply. Withdrawals are processed within 1 day and funds are received in your bank account. And you need to have enough free margins on your account to cover your withdrawals. FXTM has email and phone number support, with a live chat assistant that answers basic questions and you can request to be transferred to a live agent, typically responds in 1 minute on working days.
HotForex is a well-regulated forex broker in Kenya that accept MPesa, licensed by one Tier 1 regulator FCA, DFSA, FSCA, CMA, and Financial Services Authority Seychelles. Account types available on HotForex are Premium, Zero, Micro, Auto, PAMM, and HFCopy. Traders can use robots like Expert Advisors EAs on HotForex. HotForex provides technologies like Trading Calculator, Economic Calendar, VPS Hosting Services, Auto Trading, etc.
to make trading easy and friendly. They also have educational resources like courses, webinars, and video tutorials to help traders learn and understand the platform. HotForex fees are competitive with a Premium account, with no charges on deposits or withdrawals via MPesa. Typical spreads for Premium, Micro and Auto accounts is 1. While deposits through bank transfers are credited within days, cards and mobile money MPesa and WebMoney deposits are credited instantly and it can take up to 10 minutes for e-wallets deposits to be credited.
Both are processed within business days. HotForex offers 24 hours weekdays support via a phone helpline but does not have local phone support in Kenya. Overall support is good. M-Pesa was launched by Vodafone and Safaricom in Since its launch in Kenya, M-Pesa has expanded to other African countries like Tanzania, Mozambique, DRC, Lesotho, Ghana, and Egypt.
M-Pesa is a mobile-based money transfer service and is a branchless banking service. Choose a Regulated Forex Broker: Is the broker regulated with CMA? The first step to opening a forex trading account is to pick a broker. It is important that you trade with well-regulated brokers. Currently, only 6 brokers are regulated by CMA. These include FXPesa, Scope Markets Kenya, FXTM, HotForex, Windsor Brokers, and PepperStone.
Signup with the Broker: This generally involves a straightforward process. We will breakdown the signup info 3 processes. You will be required to enter contact information including phone number, email, and full name. A 4 digits code will be sent to your phone, you will enter the code and continue. Next, you will be required to provide some information about your trading experience and to read and sign the legal declaration online. Verify Your Account: A confirmation email will be sent to you, which will confirm that you have signed up with the broker.
The email will also include the next steps which you need to follow. And you will be required to verify your identity by uploading a government-issued ID and an address verification document like a water bill. Account Approved: Afterwards, if your account opening is approved, you will receive an email with your login details and a link to download the app.
On the app, you can make deposits and start trading. You can deposit via Mobile money MPesa. Generally, the deposits are instant a few minutes at most of the brokers using this method.
Apart from CMA regulation, there are other important factors to consider when choosing a broker that accepts MPesa. Here, we will be looking at other factors. Putting all of these factors together is important for a wholesome trading experience. Here are some of them.
However, there are other trading fees like spread, commissions, and swaps. Most brokers charge spread and swaps. Commissions might or might not be charged based on account types.
17/06/ · Pepperstone – Best Overall Forex Broker in Kenya; FXTM – Best Forex Trading Platform Some FX Brokers offer M-Pesa in a co-operation with DusuPay or iPay, which are payment providers in Africa. There is also a range of Mobile Money Payment alternatives as Airtel 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 5 rows · 25/05/ · 6 Best Forex Brokers in Kenya that Accepts MPesa. FxPesa – Local Regulated Forex 16/02/ · 10 Best Forex Brokers With Mpesa Deposits & Withdrawals XM Forex HotForex LiteFinance FxPesa CMTrading FxPrimus SuperForex FreshForex – Using Local Depositors 13/08/ · 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 ... read more
It has been operational since , and the firm has a reputation for continuing to improve its trading platform with each successive year. While direct wire bank transfers take days to credit to the trading account, payments through cards, e-wallets Skrill, Neteller , and mobile money MPesa are credited instantly. You will be required to enter contact information including phone number, email, and full name. FXPesa 5. Range of CFDs: It is no use if your broker accepts MPesa but does not have the instruments you want to trade. ExpertOption is currently licensed by the Financial Services Authority of St.The micro account has a leverage of Trading on HotForex is carried out on the MT4, web and MT5 platforms which are available on different devices. You can get more information about Deriv. The FXTM Cent Account has even higher spread. The CMA-licensed Forex brokers that accept M-Pesa include Scope Markets, FXPesa, FXTM, and Pepperstone.