6 Best Forex Brokers Accepting Mobile Money
Last Update: February 21st, 2024
6 Best Forex Brokers Accepting Mobile Money revealed. We have reviewed brokers and tested several prominent Forex brokers to identify the 6 best.
In this in-depth guide you’ll learn:
- What a Forex Broker accepting Mobile Money is?
- Which Forex Brokers Accept Mobile Money?
- Who is the Best Broker for Mobile Money?
- What is Mobile Money?
- Is Mobile Money suitable for high-volume Forex trading?
- Can I use Mobile Money for Forex trading in any country?
- Pros and Cons of each broker.
- Popular FAQs about the best Forex brokers accepting mobile money.
So if you’re ready to go “all in” with the forex brokers that Accept Mobile Money…
Let’s dive right in…
| 🔎Broker | 💻Supported Mobile Money Providers | 💰Minimum Deposit | ⚖️Regulation | 📊Platforms |
| Exness | M-Pesa, Airtel Money, MTN MoMo, Easypaisa, JazzCash, U Mobile Cash, Globe Gcash, GrabPay, PayMaya, TrueMoney | $10 | CySEC, FCA, FSCA, MAS | MetaTrader 4, MetaTrader 5, Exness Trade app |
| AXI | M-Pesa, Airtel Money, MTN MoMo | $100 | ASIC, FCA, FSCA, VFSC | MT4, MT5, ActTrader |
| Pepperstone | M-Pesa, Airtel Money, PayID, OSKO, Skrill, Neteller, UnionPay | $200 | ASIC, FCA, CMA | MT4, MT5, cTrader |
| CMTrading | Vodacom M-pesa, MTN Mobile Money, Cell C, Safaricom M-PESA, Airtel Money, AirtelTigo, EcoCash, ZiTeleCash | $100 | FSCA, FSA, CMA, SEC | Proprietary Platform |
| XM | M-Pesa, Airtel Money, MTN MoMo, EcoCash | $5 | CySEC, FCA, ASIC, IFSC | MT4, MT5 |
| Tickmill | MTN Mobile Money, Vodacom M-Pesa, Cell C | $100 | FSCA (South Africa), FSA (UK), CySEC (Europe), FSC (Seychelles) | MetaTrader 4, MetaTrader 5, MetaTrader WebTrader, MetaTrader for Mac, Tickmill Mobile App |
Forex Brokers Accepting Mobile Money (2024*)
- ☑️Exness – Overall Best Mobile Money Forex Broker.
- ☑️AXI – Supports wide range of mobile money systems.
- ☑️Pepperstone – It has its own Trading Platform.
- CMTrading – low minimum deposits and tight spreads.
- XM – Supports mobile money deposits and withdrawals.
- Tickmill – low minimum deposits and tight spreads.
What is Mobile Money?
Mobile money is a secure payment gateway facilitating seamless transactions for Forex trading. Integrating with various platforms, it enables users to open account, deposit, withdraw, and manage funds conveniently through their mobile devices and trading apps.
With robust encryption and real-time verification, mobile money payment systems ensure swift and reliable financial operations in the Forex market.
The Importance of Mobile Money in the Trading Industry
Mobile money has transformed the commerce business, bringing unprecedented simplicity and accessibility. Mobile money has revolutionized banking in areas with weak or non-existent traditional infrastructure.
It allows traders to participate in global trading markets, including FX, without requiring a typical bank account. This democratization of access has paved the way for many potential Forex trading traders, considerably extending the market base and encouraging more inclusion in trading.
The 6 Best Forex Brokers Accepting Mobile Money
Exness
Exness is a renowned Forex broker offering a comprehensive trading experience to its clients worldwide. With a commitment to transparency and innovation, Exness stands out for its user-friendly interface and competitive trading conditions.
As per the broker reviews, one notable feature of Exness is its acceptance of Mobile Money as a deposit and withdrawal method, catering to the needs of users in regions where mobile payments are prevalent. This accessibility enhances convenience and flexibility for clients to trade Forex and allowing them to seamlessly manage their funds.
Exness maintains favourable deposit and withdrawal conditions, including fast processing times and minimal fees, ensuring efficient transactions for its clients. Moreover, the broker offers tight spreads on various currency pairs, making it an attractive choice for both beginners and experienced traders.
In terms of asset selection, Exness provides a diverse range of trading instruments, including currencies, commodities, indices, and cryptocurrencies, allowing traders to diversify their portfolios.
Additionally, traders can access multiple asset classes and trading platforms, including MetaTrader 4 and MetaTrader 5, renowned for their reliability and advanced features, further enhancing the trading experience on Exness.
Unique Features
| Feature | Information |
| 🏛️ Regulation | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
| 📲 Social Media Platforms | LinkedIn YouTube |
| 💻 Trading Accounts | IG Trading Account Limited Risk Account Islamic Account (Dubai traders only) Demo Account |
| 📊 Trading Platforms | MetaTrader 4 IG Platform ProRealTime (PRT) L2 Dealer FIX API |
| 💰 Minimum Deposit | $250 |
| 📉 Trading Assets | Forex Indices Shares Commodities Cryptocurrencies Futures Options |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | No |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
Exness Pros and Cons
| ✅Pros | ❌Cons |
| Tight spreads | Limited educational resources |
| Competitive Fees | Platform options not as versatile as some competitors. |
| Excellent customer support | Mobile Money not available globally |
| Convenience and flexibility. |
Trust Score
Exness has a trust score of 97%.
Axi
Overview
Axi stands as a reputable Forex broker known for its commitment to providing a seamless trading experience. One distinguishing feature is its acceptance of deposits and withdrawals through the Mobile Money payment gateway, offering convenience to traders in regions where mobile payments are prevalent.
Axi boasts a robust educational offering, providing traders with access to comprehensive resources such as webinars, tutorials, and market analysis tools. This empowers traders of all levels to enhance their skills and make informed decisions in the Forex market.
In terms of asset selection, Axi offers a diverse range of trading instruments, including currencies, commodities, indices, and cryptocurrencies. This breadth of options allows traders to diversify their portfolios and capitalize on various market opportunities.
Furthermore, Axi prioritizes customer support, offering responsive assistance via multiple channels, including live chat, email, and phone support. This ensures that traders receive timely assistance whenever needed, fostering a supportive and reliable trading environment.
Unique Features
| 🔎 Feature | 👁️🗨️ Information |
| 🏛️ Regulation | ASIC, FCA, DFSA |
| 📱 Social Media Platforms | Instagram, Facebook, Twitter, YouTube, LinkedIn |
| 🔎 Trading Accounts | Live Trading Account, Demo Account |
| 💻 Trading Platforms | MetaTrader 4, Axi Trading Platform, Copy Trading Platform |
| 💸 Minimum Deposit | No minimum deposit |
| 🔁 Trading Assets | Forex, Shares, IPOs, Indices, Commodities, Cryptocurrencies |
| 🚀 USD-based Account? | Yes |
| 💳 USD Deposits Allowed? | Yes |
| 💰 Bonuses for traders? | No |
| 📊 Minimum spread | From 0.0 pips on Pro Account |
| ✔️ Demo Account | Yes |
| ✔️ Islamic Account | Yes |
Axi Pros and Cons
| ✅ Pros | ❌ Cons |
| Axi charges competitive spreads on key currency pairings | Axi charges inactivity fees |
| Axi is known for its superior customer support | Axi is known for its superior customer support. |
| There are free trading tools available to all traders | Axi does not have a proprietary platform |
| Axi offers customizable platforms | There is a cap on leverage for UK traders |
Trust Score
Axi has a trust score of 97%
Pepperstone
Overview
Pepperstone is a leading Forex broker renowned for its commitment to providing a secure and innovative trading environment.
Notably, Pepperstone accepts mobile money transfers, catering to the needs of traders in regions where mobile payments are prevalent, enhancing accessibility and convenience.
Pepperstone operates within a secure regulatory framework, holding licenses from reputable authorities such as the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA), ensuring compliance with stringent regulatory standards.
The broker offers the cTrader platform, known for its advanced features and intuitive interface, providing traders with a powerful tool for executing trades efficiently.
Pepperstone boasts competitive spreads across a wide range of currency pairs and other trading instruments, enabling traders to capitalize on market opportunities with minimized costs.
With an extensive selection of assets including currencies, commodities, indices, and cryptocurrencies, Pepperstone offers traders diverse opportunities to build and diversify their investment portfolios.
Unique Features
| Feature | Information |
| 🏛️ Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB |
| 📲 Social Media Platforms | LinkedIn You Tube |
| 💻 Trading Accounts | Standard Account Razor Account Professional Account Demo Account Islamic Account |
| 📊 Trading Platforms | MetaTrader 4 MetaTrader 5 cTrader TradingView Myfxbook Duplitrade |
| 💰 Minimum Deposit | AU$200 |
| 📉 Trading Assets | Forex Indices Shares Commodities Cryptocurrencies Futures Options |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ❌ No |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
| 👉 Open Account | 👉 Open Account |
Pepperstone Pros and Cons
| ✔️ Pros | ❌ Cons |
| Trading in FX and Contracts for Difference (CFD) is the main focus of Pepperstone Markets. The company adheres to stringent policies to safeguard investor interests and customer funds. | No set spreads are provided. |
| For the convenience of its traders, Pepperstone Markets offers local alternatives for deposits and withdrawals. | There can be extra fees associated with the Islamic Account |
| In some foreign jurisdictions, Pepperstone Markets is the target of intense regulatory scrutiny | Owing to geographical restrictions, throughout the Islamic Account conversion process, traders must provide documentary proof of their residential address |
Trust Score
Pepperstone has a high trust score of 92%
CM Trading
Overview
CM Trading is a prominent Forex broker known for its commitment to innovation and accessibility in the financial markets.
Notably, CM Trading accepts Mobile Money transfers, providing traders with a convenient and flexible payment option, particularly in regions where mobile payments are prevalent.
One of CM Trading’s standout features is its unique proprietary trading platform, which offers a user-friendly interface and advanced trading tools tailored to meet the needs of traders of all levels. This platform enhances efficiency and enables traders to execute trades with ease.
CM Trading boasts competitive spreads and transparent trading fees, ensuring cost-effective trading for its clients.
Additionally, the broker provides access to a range of educational resources and market analysis tools, empowering traders to make informed decisions and improve their trading skills.
Overall, CM Trading offers a comprehensive trading experience designed to meet the diverse needs of traders globally.
Unique Features
| Feature | Information |
| 🏛️ Regulation | FSCA |
| 📲 Social Media Platforms | LinkedIn YouTube |
| 💻 Trading Accounts | Bronze Account, Silver Account, Gold Account, Premium Account |
| 📊 Trading Platforms | MetaTrader 4 CMTrading Web CopyKat |
| 💰 Minimum Deposit | $100 |
| 📉 Trading Assets | Forex Indices Stocks Commodities Cryptocurrencies |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | No |
| 📈 Minimum spread | From 0.9 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
CMTrading Pros and Cons
| ✔️ Pros | ❌ Cons |
| CMTrading is well-regulated in South Africa by the FSCA | Spreads on ZAR-based forex pairs can be wide during volatile periods |
| There are flexible leverage options available | CMTrading does not offer South African CFDs |
| There is a range of markets available to South African traders | There are limited crypto pairs available to South Africans |
| Spreads on USD/ZAR start from 0.0001 pips | |
| CMTrading offers instant withdrawals |
Trust Score
CMTrading has a high trust score of 91%.
XM
Overview
XM is a reputable Forex broker renowned for its user-friendly trading platform and comprehensive services.
With a global presence, XM stands out for its commitment to providing traders with a seamless trading experience.
One notable feature of XM is its acceptance of mobile money payments, catering to the needs of traders in regions where mobile money is a prevalent method of financial transactions.
This inclusion enhances accessibility and convenience for users, facilitating swift and secure deposits and withdrawals.
Additionally, XM offers competitive trading conditions, including tight spreads, low commissions, and leverage options.
Traders benefit from a diverse range of tradable assets, including forex, commodities, stocks, and indices.
Furthermore, XM prioritizes customer support, offering multilingual assistance and educational resources to empower traders at all levels of expertise.
With its robust platform and customer-centric approach, XM remains a top choice for traders seeking reliability and innovation in the forex market.
Unique Features
| Feature | Information |
| 🏛️ Regulation | FSCA, IFSC, ASIC, CySEC, DFSA |
| 📲 Social Media Platforms | LinkedIn YouTube |
| 💻 Trading Accounts | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| 📊 Trading Platforms | MetaTrader 4, MetaTrader 5, XM Mobile App |
| 💰 Minimum Deposit | $5 |
| 📉 Trading Assets | Forex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares, |
| 💲 USD-based Account? | ✔️ Yes |
| 💲 USD Deposits Allowed? | ✔️ Yes |
| ➕ Bonuses for traders? | ✔️ Yes |
| 📈 Minimum spread | From 0.0 pips |
| 💻 Demo Account | ✔️ Yes |
| ☪️ Islamic Account | ✔️ Yes |
XM Pros and Cons
| ✅Pros | ❌Cons |
| Global marketplaces and an extensive array of trading opportunities are made available to clients of XM. | Compared to other brokerages, XM has a relatively small range of cryptocurrencies. This restriction might reduce the possibilities open to traders seeking to purchase a range of cryptocurrency assets. |
| With the cent account offered by XM, traders—especially novices to the market—can commence their activities with smaller capital and effectively reduce their risk. | If traders leave their accounts unattended for extended periods of time, they risk incurring inactivity fines. Inexperienced traders could find this to be unsettling. |
| In addition to enhancing transaction cost-effectiveness, XM's platform offers competitive margins that may boost merchant profitability. | Changeable spreads are used by XM, and traders may notice that they are greater during times of increased market volatility. |
| XM provides traders with a range of educational resources, including as webinars and seminars, to help them become more knowledgeable traders. | |
| Bilingual customer service from XM makes it easier to have fruitful conversations | |
| With XM's extensive selection of financial instruments, including Forex, commodities, indices, and cryptocurrencies, clients may build varied trading portfolios. |
Trust Score
XM has a high trust score of 90%.
Tickmill
Overview
Tickmill is a leading Forex broker recognized for its robust trading infrastructure and client-centric services.
Offering multiple trading platforms including MetaTrader 4 and 5, as well as a proprietary platform, Tickmill caters to the diverse needs of traders worldwide.
With competitive spreads starting from 0.0 pips and low commissions, Tickmill ensures cost-effective trading conditions.
The broker prioritizes customer support, providing multilingual assistance via live chat, email, and phone, fostering a responsive and helpful trading environment.
Traders benefit from a wide range of tradable assets, including forex, commodities, indices, and bonds, enabling diversified investment strategies.
Notably, Tickmill distinguishes itself by accepting mobile money transfers, facilitating seamless deposits and withdrawals for clients in regions where mobile money is prevalent.
With its comprehensive trading solutions, competitive pricing, robust customer support, and inclusive payment options, Tickmill stands as a reliable choice for traders seeking excellence in the forex market.
Unique Features
| 🔎 Feature | 👁️🗨️ Information |
| 📝 Regulation | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA |
| HKSFC Regulation? | ❌No |
| 📱 Social Media Platforms | Facebook, Twitter, LinkedIn, YouTube, Instagram, Telegram |
| 🔎 Trading Accounts | Pro Account, Classic Account, VIP Account |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5 |
| 💸 Minimum Deposit | HKD39.11 or $5 |
| 🔁 Trading Assets | Forex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies |
| 🚀 HKD-based Account? | ❌No |
| 💳 HKD Deposits Allowed? | ❌No |
| 💰 Bonuses for traders? | ✔️Yes |
| 📊 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | ✔️Yes |
| ✔️ Islamic Account | ✔️Yes |
| 👉 Open Account | 👉 Open Account |
Tickmill Pros and Cons
| ✅Pros | ❌Cons |
| Deposit and potentially withdraw funds using your mobile phone in select regions. | Mobile money support varies by country and provider. Check compatibility before relying on it. |
| Depending on your provider, deposits might be quicker and more convenient than traditional methods. | Double-check if your chosen provider allows both deposits and withdrawals. |
| Mobile money transactions might incur lower fees compared to some traditional methods, depending on your provider. | Minimum deposit amounts and processing times can vary based on your location and provider. |
| If unavailable or undesirable, mobile money offers an alternative deposit method. | Credit cards and bank transfers are generally more universally accepted by forex brokers. |
Trust Score
Tickmill has a trust score of 82%.
Conclusion
Overall, the integration of mobile money services by Forex brokers marks a significant step towards inclusivity and accessibility in the financial markets. By embracing this convenient payment method, brokers empower traders globally, facilitating seamless deposits and withdrawals, ultimately enhancing the overall trading experience.
Frequently Asked Questions
Is it safe to use Mobile Money as a Forex Trading payment method?
Yes, using Mobile Money for Forex trading is generally secure because it uses strong security mechanisms such as encryption, PIN, and biometric verification.
However, traders should take conventional security precautions, such as protecting their account information and periodically checking transactions.
Which Forex Brokers Accept Mobile Money?
Several Forex brokers accept mobile money, particularly those that serve countries in Africa and Asia where mobile money is widespread. Because the payment methods available to traders differ between brokers, they should check with each platform.
How quickly can I fund my Forex account using Mobile Money?
Funding your Forex account with Mobile Money is typically immediate or near-instant, allowing traders to capitalize on market opportunities with minimal wait.
Are there any additional fees for using Mobile Money with Forex Brokers?
Some Forex brokers may impose additional costs for Mobile Money deposits or withdrawals. Therefore, examining the broker’s price structure is a good idea.
Can I withdraw my Forex trading profits to my Mobile Money account?
Yes, many Forex brokers who accept Mobile Money for deposits also allow withdrawals to your Mobile Money account, subject to restrictions and limits.
Is Mobile Money suitable for high-volume Forex trading?
No, Mobile Money may have constraints for high-volume trading due to transaction limits; hence, it is better suited for small to medium-sized transactions.
Do Forex Brokers offer bonuses for using Mobile Money?
Yes, some Forex brokers may offer bonuses or incentives for using Mobile Money as a payment option, albeit this varies per platform.
How does currency conversion work when using Mobile Money for Forex trading?
Currency conversion with Mobile Money in Forex trading normally entails regular exchange rates offered by the broker or the Mobile Money provider, which traders should be informed of along with any associated fees.
Can I use Mobile Money for Forex trading in any country?
The availability of Mobile Money as a payment method for Forex trading is determined by the broker’s regulations and the regulatory environment in your country. Thus, it is not always available.
Top 4 Brokers
