Best Forex Brokers That Accept Mobile Money And Mpesa 2023

There are many online forex brokers, it is difficult to make the right choice with all these online brokers offering trading services. this is one of the reasons why we have written this article to help you find the best online forex broker accept mobile money and mpesa, to offer you a reliable trading environment and service. here is the list of the best forex brokers accept mobile money and mpesa.

Best Forex Brokers that accept mobile money and mpesa 2023

1. Exness

EXNESS is a trading platform for CFDs and Forex. Its main office is located in Cyprus. In addition, it has branches in St. Vincent, one in Russia and another in the Grenadines. The company (LTD) is regulated in Cyprus by CySEC, where it has its headquarters.

Exness has four types of accounts. The basic one here is called “hundred”. It is best suited for beginners because it has no minimum deposit and it has a leverage of 2000:1. This account is called “cent” because its name is in cents. Users cannot use hedging or experts. The margin call level is 60% and the stop loss level is 30%.

The mini account also has no minimum deposit and has the same leverage as the “cent” account. It also has the same margin call levels as well as stops. But here, the maximum trade size is not fixed and trading can be done with hedging or experts.

The real deal starts with a classic account that has a minimum deposit of $2000. It also has a leverage of 2000:1

The margin call level is set at 30% and the stop out level at 10%.

The fourth account is the ECN. It has a commission of at least $25 per standard lot traded, as well as a trade size of at least 0.1 lot. The level of a margin call is 100%, the stop loss level is 50% with a leverage of 200:1. In addition, there is multi-bank access to the market.

Regulation: Cysec, FSCA, FCA
Minimum deposit from: $1
Maximum Leverage: 1:2000
Spread: Variable
Platforms: Metatrader 4, Metatrader 5

Hotforex

HotForex is an award-winning forex and commodities broker, providing trading services and facilities to retail and institutional clients. With its policy of providing the best possible trading conditions to its clients and allowing scalpers and traders using expert advisors unlimited access to its liquidity, HotForex has positioned itself as the forex broker of choice for traders worldwide.

Hotforex Trading Platform

HotForex uses the MT4 also known as the Metatrader 4 trading platform. MetaTrader is the most popular front-end application in the industry. HotForex MT4 has taken the MetaTrader MT4 platform and introduced its liquidity to create a user-friendly front-end trading interface with interbank liquidity and fast execution.

HotForex MT4 terminal is a fully equipped workplace for traders to trade on financial markets (Forex, CFDs and Futures). It provides tools and resources for analyzing price dynamics of financial instruments, making trades, creating and using automated trading programs (Expert Advisors). It represents the all-in-one concept and is derived from the most popular trading terminal in the world.

Hotforex is a STP (Straight through Processor) type of forex broker. With Hotforex, orders placed are transmitted directly to liquidity providers. Trades are not hedged or manipulated, eliminating the need for re-quotes. No price manipulation and one of the lowest spreads in the interbank market itself. Hotforex also offers an ECN account with a deposit of only $500. Hotforex spreads start as low as 0.6 on major currency pairs.

Regulation: Cysec, FCA, FSCA, FSA, DFSA

Minimum deposit from: 5$

Maximum Leverage: 1:1000

Spread: Variable

Platforms: Metatrader 4, Metatrader 5

XM

XM is a registered trademark of Trading Point Holdings Ltd, a company that owns a number of other trading companies, including Trading Point of Financial Instruments Ltd, located in Cyprus, and Trading Point NZ, located in New Zealand. XM specializes in creating an online environment that can be used for online trading of forex, futures and CFDs. It advertises that it will not have any new quotes, will not reject any trades and will execute all trades. It has a 100% success rate. It was founded in 2008.

There are three different types of accounts offered by XM. They are very similar to each other, offering the same number of currencies, the same precise leverage, spreads on the majors, the maximum number of pending orders and commission fees, which are zero. The only difference is that the Micro account has 100 lot restrictions per ticket, while the Standard and Executive accounts have 50 lot restrictions per ticket. The Micro account also has a contract size of 1,000, while the Standard and Executive accounts have a contract size of 100,000.

There are no commission fees charged for any of the accounts or any of the other trades that can be made, including Forex, spread betting, CFDs, stocks, futures or options.

Leverage, or multiplying an account, is present at XM. The maximum leverage is 888:1. This is the same for all accounts.

Regulation: ASIC, CYSEC; IFSC

Minimum deposit from: 5$

Maximum Leverage: 1:1000

Spread: Variable

Platforms: Metatrader 4, Metatrader 5

Forextime (FXTM)

Regulation: Cysec, FSAC; FSC

Minimum deposit from: 5$

Maximum Leverage: 1:1000

Spread: Variable

Platforms: Metatrader 4, Metatrader 5, WebTrdaer

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