MPesa payment system for Forex brokers is extremely popular right now. Over the past few years, it has become one of the most widely-used payment methods for Forex, and has amassed quite a large number of traders who consider it to be the top payment system for Forex trading.
MPesa has managed to achieve this by offering a great solution to some of the central issues surrounding payment, such as simplicity, speed and convenience. By focusing on these key points and excelling at them majorly, MPesa has secured itself a top spot as a Forex payment solution.
In this guide, we will be talking about what MPesa really is, how it works, what are its interesting quirks and features, and how to use it as a Forex trader for maximum benefits. In the meantime, make sure to check out XM, one of the top brokers offering MPesa payments on their website.
Before we talk about what MPesa is why it works so well with Forex brokers and what are some of its most interesting features, we would like to give you a shortlist of what we believe to be the best brokers that accept MPesa. With the huge amount of so many brokers out there, and so many many more constantly being added, it can definitely be difficult to choose a good, trustworthy and reliable Forex broker, especially for the beginners and especially when there’s so much conflicting info online. With that in mind, we hope that our list of top Forex brokers accepting MPesa will prove to be useful to you!
MPesa is an online payment system provider that is especially popular in Africa, mainly Kenya and Tanzania but has recently made efforts to expand to Afghanistan, South Africa, India, and several other countries as well.
MPesa is quickly gaining in popularity, with Forex trading in Kenya using Mpesa becoming the norm, and more and more people see it as a viable option of payment for all sorts of different services. MPesa is essentially a mobile-based money transfer service and is discerned by some of its main qualities of simplicity, speed, and accessibility.
As stated, Forex brokers that have MPesa are predominantly popular in Kenya, in part because of how easy it has made the payment process for many different services. With that being said, those interested in using it from the other countries should definitely not be discouraged, as it’s a great service that anyone can benefit from, whether or not they are from Kenya.
The idea MPesa itself, and how it works, is a fairly similar concept to grasp. There’s not much into it. In fact, it seems to be fairly similar to all online payment methods like PayPal and Skrill. So, what’s the point? Why go with MPesa over the alternatives? Well, there’s no universal answer to that. The point is, while something may work the best for you, there are tons of other people for whom something else may be preferable. It all comes down to your specific requirements, and how they may be fulfilled. Having said that, we believe that the Forex broker Mpesa deposit definitely has its own strong advantages. Let’s discuss all of them below:
One of the primary benefits of depositing with a Forex broker with Mpesa is how simple it can all be. It’s probably not a secret to many, that getting into Forex is not simple. There are tons of steps that you have to go through. After finding a decent broker, which is a big task in and of itself, you then have to go through an oft-tedious process of signing up and going through all the verification trials and tribulations, which can sometimes be a very frustrating and time-stretched process. Even after that, sometimes, the hardest part may be the payment process. For some Forex brokers, payment systems are a big pain, as not all of them are able to easily facilitate convenient payment due to a large number of reasons that are simply outside their control.
Forex brokers are fully aware of this, and that’s exactly why Forex brokers that accept MPesa are becoming so common. Making payment systems easier and more accessible is one of the biggest priorities of any Forex broker, no matter which market they are in. In a way, the very structure of MPesa allows for unparalleled simplicity. How exactly?
MPesa works in a way that it basically lets you use your mobile phone as an e-wallet. You are essentially attaching your SIM card and mobile account to your banking account, and use it to pay for a large number of services. This means, that you have a very powerful and versatile method of payment in your pocket 24/7.
In some cases, transferring money from one account to another is as simple as sending a text message, which allows for unprecedented accessibility. In countries like Kenya where for a lot of people the main access-point for internet connection and other computer activities are their mobile phones, this can be a game-changer.
As compared to other payment methods, which may sometimes require some needlessly-complicated extra steps, this kind of simplicity gives any broker a huge advantage.
Another advantage of using MPesa Powered FX Broker is the added benefit of security that you automatically gain. When it comes to investing your hard-earned money, your time and your energy, security is one of the things that you should consider to be of utmost importance.
MPesa was built and developed by Vodafone, which is one of the biggest mobile networks in the world. They have been on the market for decades, and have successfully managed to supply great mobile service for millions upon millions of people around the world. Needless to say, their experience and track record gives you an assurance that their service will be of impeccable standard, and so will be the security of their software. This is one of the very important aspects that many people don’t pay a lot of attention to when choosing their payment method, which is rather unfortunate, as when it comes down to investing your money, you have to make sure that you are covering all your bases on the security-side of the things.
What also aids in the security of Forex trading brokers with MPesa is the fact your funds on your MPesa accounts are not actually in the hands of MPesa itself, but rather, they are stored in segregated accounts at Safaricom headquarters. The latter is managed by the Kenyan government, which supervises the money itself. During all of this, the money isn’t just laying around. Rather, they are used for the development and advancement of the Kenyan economy by spreading across different banks and other commercial sectors. Kenyan government conducts full supervision and makes sure everything is accounted for, which means that the security and stability of your funds is in the very interests of the government of Kenya, attesting to the security of MPesa Forex trading even more. If you like what you’re seeing about MPesa so far, check out these welcome bonuses by XM, one of the top brokers accepting MPesa today.
When it comes to Forex payments, one of the most common problems that a lot of traders face is the fact that their charges have trouble going through. This happens when the bank decides to step in and decline the charge until it’s approved by the account-owner. This is usually done due to security reasons and is automatic in the vast majority of the cases. While the added security is always appreciated and welcome, it can definitely be a problem in some cases. A Forex brokerage accepting MPesa rarely has this problem, and there’s a reason why.
MPesa is one of the biggest money transfer services in the region, handling millions of dollars’ worth of transfers every single day. This means they need to have a very robust and effective payment processing system of world-class standards. Especially in countries on the African continent, where MPesa is so popular and so many transactions are made every single day, the chances of your bank declining their charge is almost no-existent.
This is a huge benefit for the broker as well, as it makes it much easier for them to facilitate the payment, and avoid losing any possible deposits because of a declined charge, giving a great advantage to trading platforms that accept Mpesa.
It’s not a coincidence that the number of Forex brokers allowing MPesa payments. By design, MPesa is almost custom-made for Forex. First off, we have to understand that the Forex market is extremely volatile, it’s simply designed to be that way. The reason why people are able to make very large amounts of profit in such a short time and can multiply their investments manyfold is because of the fact that Forex is so volatile. After all, it’s a currency-trading market, and currencies themselves are dependent on so many things, that they can change in a blink of an eye.
Due to this, speed and timing are some of the most important factors in being successful at Forex. To be successful, you need to be able to maneuver around the events correctly, and most importantly, fast. Making last-minute decisions on the fly is extremely common, and you need to be able to make frequent transactions without wasting time. This is where benefits like Forex broker top up Mpesa come into play, and lets you stay ahead of things with its flexibility and versatility. This is coupled with the fact that MPesa has very low fees, which is great as you’ll be making a lot of microtransactions for quick redeposits.
Looking at the perspective of the brokers, they have a lot to gain from using MPesa too. By letting the traders pay via MPesa, they take a lot of load from their own shoulders. The payment will be handled by MPesa’s own secure server, which creates a win-win scenario for both parties and gives them some peace of mind. Additionally, since MPesa is so popular among Forex traders, it allows them to create one unified ecosystem for transferring the money between different accounts. It’s not uncommon for experienced traders to be trading with multiple different websites at any given time, so this kind of cross-website flexibility can really come in handy with Mpesa Forex brokers.
The global market for Forex is very dynamic and ever-changing. As more and more people join with each passing year, the market changes accordingly. One of the main challenges for the Forex brokers is to make the whole process, from start to finish, easier and more accessible for the general public. Payment is at the center of all this, as it is the beginning point for the whole trading process. It’s exactly because of this that Forex trading via Mpesa and other similar payment methods is gaining popularity, and they have proven to be one of the most effective methods to make trading more attractive to people.
MPesa doesn’t offer anything extraordinary. Rather, it does an extraordinarily good job at ordinary things like speed, usability, and convenience. If these are what you are looking for, and feel that you are ready to go, click the link below to check out XM, one of the best brokers where you can make your first deposit with MPesa today!
Contrary to popular belief, trading isn’t all that uncommon nowadays. People from all sorts of different backgrounds are finding it much easier and much more interesting to join trading. The thing is, the internet has opened up a lot of doors to a lot of things that were simply not open for a lot of people, and this includes trading as well. Gone are the days when you had to prepare thousands upon thousands of dollars of capital only to get started with trading. Nowadays, people investing very small amounts of money and getting started with smaller-scale trading endeavors is very common.
Without any doubt, one of the biggest reasons as to why we have been seeing this development today is Forex. Forex has shown the world that trading doesn’t have to be hard, expensive and intimidating. It has shown us, that pretty much anyone can trade, and with enough time, dedication and patience, anyone can be successful at it. With that being said, since the popularity and demand for Forex has been increasing so rapidly over the years, the number of brokers has been increasing as well, to the point where there are hundreds upon hundreds of Forex brokers out there. With such fierce competition, companies are constantly challenged with coming up with newer and more effective ways to help them differentiate themselves from all the other competitors out there who are offering the same thing. One of the biggest focuses for Forex companies who are looking to improve their service is the payment process. Payment is one of the key pieces of the whole Forex puzzle, and by making it easier, faster and more accessible is a surefire way for Forex companies to attract more customers, and that’s exactly the reason why MPesa is one of the fastest-growing and most preferred payment methods.[/spoiler]