MPesa for Forex Trading – How to Guide and Background
When trading online, there are a lot of different payment methods that one can use. They all come with their own advantages and disadvantages, different commission fees, limits, and processing time. For some traders, the most important thing is to process the payment instantly, while some might prefer fewer fees and a longer waiting period. Today we are going to discuss one of the most popular payment methods in East Africa, called MPesa.
MPesa is a money transfer service supported by Kenya’s largest network operator and has changed the lives of many people. The best thing about it is that MPesa is super easy to use, and in order to use it, you do not need an internet connection. You can just transfer your money via SMS, which is heavily favored in East Africa. In addition to this, it is a fast, safe, and low-cost way to pay, for companies and individuals. Compared to the traditional payment methods, MPesa is way faster and cheaper, working digitally and in time. This mobile money service allows users to transfer, receive and deposit money in a comfortable manner. The proof of its success is that since MPesa’s creation, a lot of banks around the world have initiated different mobile-money services in an attempt to replicate MPesa’s story, but only a few of them were fortunate. Let’s take a look at how it works, and where you can use it.
Best MPesa Forex Brokers
Broker of the Month
Discover our best broker for October and start trading today
Best and most trusted forex brokers in October 2023
All the brokers below are available in:
95.5
Points
Used by
100,000+ Traders
Min. Deposit
$100
Bonus
Check Website
Trading Instruments
4,500+
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker/DMA
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal, Union Pay, WebMoney and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN/DMA
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker/DMA
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Neteller, Skrill, WebMoney
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay, American Express, Union Pay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Private
Deposit Methods
Bank transfer, Visa, Skrill, Neteller, PerfectMoney, bitwallet
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal, Union Pay, WebMoney and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN/DMA
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Private
Deposit Methods
Bank transfer, Visa, Skrill, Neteller, PerfectMoney, bitwallet
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Neteller, Skrill, Bitcoin, Sofort and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Skrill, Netseller, Sofort
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Neteller, Skrill, WebMoney
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
ECN Broker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay, American Express, Union Pay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Neteller, Skrill, WebMoney
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal, Union Pay, WebMoney and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Private
Deposit Methods
Bank transfer, Visa, Skrill, Neteller, PerfectMoney, bitwallet
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN/DMA
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
ECN Broker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Private
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, E-Wallets and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Neteller, Skrill, WebMoney
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN/DMA
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Private
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Neteller, Skrill, Bitcoin, Sofort and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Private
Deposit Methods
Bank transfer, Visa, Skrill, Neteller, PerfectMoney, bitwallet
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
ECN Broker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Neteller, Skrill, WebMoney
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal, Union Pay, WebMoney and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Neteller, Skrill, Bitcoin, Sofort and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Skrill, Netseller, Sofort
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/NDD
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Skrill, Neteller, BitPay, VLoan and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
ECN Broker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay, American Express, Union Pay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Private
Deposit Methods
Bank transfer, Visa, Skrill, Neteller, PerfectMoney, bitwallet
Best and most trusted forex brokers in October 2023
All the brokers below are available in:
96
Points
Used by
Traders
Min. Deposit
$10000
Bonus
N/A
Trading Instruments
150+
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal, Union Pay, WebMoney and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Neteller, Skrill, Bitcoin, Sofort and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Skrill, Netseller, Sofort
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
ECN Broker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Neteller, Skrill, WebMoney
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN/DMA
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay, American Express, Union Pay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Private
Deposit Methods
Bank transfer, Visa, Skrill, Neteller, PerfectMoney, bitwallet
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal, Union Pay, WebMoney and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Skrill, Netseller, Sofort
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Neteller, Skrill, Bitcoin, Sofort and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay, American Express, Union Pay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Neteller, Skrill, WebMoney
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Private
Deposit Methods
Bank transfer, Visa, Skrill, Neteller, PerfectMoney, bitwallet
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
ECN Broker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Neteller, Skrill, WebMoney
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Neteller, Skrill, Bitcoin, Sofort and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Skrill, Netseller, Sofort
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Private
Deposit Methods
Bank transfer, Visa, Skrill, Neteller, PerfectMoney, bitwallet
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
ECN Broker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal, Union Pay, WebMoney and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN/DMA
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Neteller, Skrill, Bitcoin, Sofort and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Skrill, Netseller, Sofort
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal, Union Pay, WebMoney and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Private
Deposit Methods
Bank transfer, Visa, Skrill, Neteller, PerfectMoney, bitwallet
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Private
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, E-Wallets and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, PayPal, Union Pay, WebMoney and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Neteller, Skrill, Bitcoin, Sofort and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Neteller, Skrill, WebMoney
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, Mastercard, Skrill, Netseller, Sofort
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
STP/ECN
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Private
Deposit Methods
Bank transfer, Visa, Skrill, Neteller, PerfectMoney, bitwallet
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
Market Maker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
MT5
Multi-asset platform for trading Forex and CFDs.
Mobile App
WebTrader
Trade online without downloading any software.
Deposit Methods
Bank transfer, Visa, MasterCard, Skrill, Neteller, FasaPay, American Express, Union Pay and more
Trading instruments, or securities, are the various market types you can trade. Examples include CFDs, stocks, currencies, metals, and commodity futures.
Type of Brokers
ECN Broker
Trading Platforms
MT4
Platform for trading Forex, analysing financial markets and using expert advisors.
As we already mentioned, the main reason behind MPesa’s popularity is that it allows users to make money transactions without an internet connection, using a mobile phone’s SIM card. If the customer is in Kenya, he needs to do it with a Safaricom (mobile network operator company) SIM card. You simply put your SIM card into the mobile device’s card slot and then it is possible to receive and send money with SMS messages, as well as make payments and transfers either to family members or companies.
All transactions are performed securely and they are provided with a PIN number. After registering, both parties receive an SMS in order to confirm the amount transferred. Electronic money is delivered instantly to the recipient, who can later redeem it for cash by visiting an agent. MPesa is extremely useful for users that have no bank accounts and access to the internet connection.
Fees
The fees differ depending on how you make the transaction. For instance, if you send money between 50 and 100 KES (Kenyan Shilling) you will have no transfer fee. If you send money between 101 and 500 KES, then the transaction fee is going to be 6 KES for both – MPesa users and other registered mobile money users. However, if you make a transaction with unregistered users, the fee will be higher, in this case, 45 KES.
MPesa users can enjoy free transactions between bank accounts and MPesa. It is important to note that the charges were reduced at the beginning of 2021 by up to 45% – The company made this decision in order to lower value transaction bands.
Speed
When choosing a specific payment method, it is important that you receive your money on time, without waiting for days and weeks. Another good thing about MPesa is that it allows you to make transactions instantly – once you send your money via SMS, another person can redeem it for cash instantly, meaning that the transaction speed is immediate and that is another reason why this payment method is so popular not only with regular users but Forex brokers as well.
Methods
Before the appearance of smartphones, Kenya had very few ways to manage money. With the MPesa, it became possible to avoid visits to the bank or making phone calls. The methods used for transferring money are usually via SMS. Everything is done through the mobile, even the registration is confirmed by the SMS – after registering, you will need to activate the account using the 4-digit PIN sent by SMS.
Do MPesa Brokers Get Regulated?
While dealing with platforms that involve money, it is important that the company you use is regulated. This is a guarantee that if something inconvenient happens, there is a financial regulatory body that will take all the necessary actions to protect you as a customer. The good news is that MPesa is regulated by the financial services regulator (in most cases this is a Central Bank) of each region or country in which it functions.
The communications sector in Kenya is regulated by The Communications Authority of Kenya (also known as CA) which ensures that the citizens of the country receive the best possible services from different companies and MPesa is on the list of them. Besides that, MPesa is also regulated by the Central Bank of Kenya, Kenya Revenue Authority, Capital Markets Authority, Kenya Civil Aviation Authority, etc. What this means is that every customer using MPesa is safe, and they might never have to worry about money or privacy issues as the company provides them with a reasonable and responsible service that is supervised by some of the most reputable authorities available across the country.
Top Countries to Find MPesa Brokers
Considering the fact that MPesa was created back in 2007, over many years, it has started to expand and offer services to customers from many countries. Nowadays, the platform has more than 40 million users alone in African countries including Ghana, Kenya, Egypt, Tanzania, Congo, Tanzania, and Mozambique. It is also possible to use MPesa in Eastern Europe, South Africa, India, and the full list of countries can be found on their main webpage.
While it is true that MPesa has had some challenges and problems in the past, it still was able to overcome them and be one of the most secure and popular payment methods available across different parts of the world.
Kenya
It was impossible to not start our list with Kenya, which is the most successful case of implementing MPesa’s services. The fact that people living in rural areas of Kenya did not have access to money, and the nearest bank was several days’ walk, made it possible for MPesa to solve such problems and actually make it possible for people to easily make payments by texting a password and requesting money. The simple system of mobile banking made a significant difference for families not having access to money.