10 Best Forex Brokers accepting Mobile Money ☑️ (2023)

The 10 Best Forex Brokers accepting Mobile Money revealed.

We have listed, rated, and reviewed the Best Forex Brokers accepting Mobile Money. We showcase which notable Forex Brokers accept deposits via mobile payment options.

This is a complete listing of The 10 Best Forex Brokers accepting Mobile Money.
In this in-depth write-up you will learn:

and much, much more!

10 Best Forex Brokers accepting Mobile Money in South Africa (2023) – A Comparison

? Broker	? Accepts Mobile Money / eWallets / Digital Wallets	? Minimum Deposit	? Trust Score (5)	Open an Account
1️⃣ Exness	✅ Yes	$200 USD	4.9	? Click Here
2️⃣ Pepperstone	☑️ Yes	$200 USD	4.9	? Click Here
3️⃣ Axi	✅ Yes	$0 USD	4.6	? Click Here
4️⃣ CM Trading	☑️ Yes	$100 USD	4.8	? Click Here
5️⃣ FXPesa	✅ Yes	$5 USD	4.6	? Click Here
6️⃣ SuperForex	☑️ Yes	$1 USD	4.5	? Click Here
7️⃣ XM	✅ Yes	$50 USD	4.8	? Click Here
8️⃣ Scope Markets	☑️ Yes	$100 USD	4.5	? Click Here
9️⃣ IQ Option	✅ Yes	$10 USD	4.2	? Click Here
? Tickmill	☑️ Yes	$100 USD	4.7	? Click Here

Mobile Money – A Definition

A Mobile money transfer is a payment made from a mobile e-wallet, accrues to a mobile wallet, and/or is initiated using a mobile phone.

10 Best Forex Brokers accepting Mobile Money in South Africa (2023)

Exness – Overall, Best Forex Broker accepting Mobile Money
Pepperstone – Multiple, flexible deposit methods
Axi – Leading Broker accepting PayPal
CM Trading – High User Trust Score
FXPesa – Forex Broker accepting M-Pesa
SuperForex – Best Online Trading Experience
XM – Easy Deposit Options and Withdrawal Methods
Scope Markets – Broker accepting deposits via e-wallet options
IQ Option – Trusted Mobile Money Deposit Options
Tickmill – Best Broker for Beginners

Exness

Exness is a forex and CFD broker offering clients access to trading in currencies, crypto, stocks, indices, metals, and commodities.

Exness Overview

? Broker	? Exness
? Regulation	Multiple
? Trading Desk	Market Maker, NDD
? Sign Up Bonus	None
➖ Min. Deposit from	$10 USD
? Spreads from	0.1 Pips
➕ Max Leverage	1:2000
? Commission	Yes
? Inactivity Fee	No
? Open an Account	? Click Here

Exness Deposit and Withdrawal

Exness makes multiple, flexible deposit and withdrawal methods available to choose from. This includes the world’s most popular payment systems, e-wallets, and crypto-wallets including:

Skrill
Neteller
Perfect Money
Webmoney

and more.

Exness Pros and Cons

✔️ Pros	❌ Cons
Exness is well-regulated and keeps all client funds in segregated accounts with top-tier institutions	There is a limited portfolio of financial instruments offered
Traders can choose between several retail investor accounts	Exness offers a limited number of payment methods that can be used for deposits and withdrawals

Pepperstone

Pepperstone was founded in 2010 in Melbourne, Australia, and processes an average of US$12.55bn of trades every day. Pepperstone is one of the world’s largest forex brokers and is trusted by over 300,000 traders worldwide.

Pepperstone Overview

? Broker	? Pepperstone
? Min Deposit	$0 USD
✒️ Regulation	ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
☪️ Islamic Account	☑️ Yes
? Demo Account	☑️ Yes
? Base Currencies	9
? Forex Pairs	60+
? Share CFDs	60+
? Index CFDs	16
? Open an Account	? Click Here

Pepperstone Deposit and Withdrawal

Pepperstone accepts multiple popular deposit options including Visa, MasterCard, Bank Transfer, MPesa, and PayPal.

Pepperstone Pros and Cons

✅ Pros	❎ Cons
Fast Account Opening	Mostly CFDs Offered
Excellent Customer Support	Basic MetaTrader Platform

Axi

Axi is a trusted brokerage firm that caters to 60’000+ traders across 100+ countries. Axi offers Ultra-competitive pricing, unbeatable value, free education, and award-winning 24/5 customer service.

Axi Overview

? Broker	? Axi
? Regulation	ASIC, FCA, DFSA
? Min Deposit	$0 USD
? Demo Account	✅ Yes
☪️ Islamic Account	☑️ Yes
? Spreads from	0.0 Pips
? Commission	✅ Yes
? Deposit Fee	No
? Inactivity Fee	No
⚡ Withdrawal Fee	Third-Party
? Open an Account	? Click Here

Axi Deposit and Withdrawal

Axi offers clients popular payments in order to fund their accounts. Deposit options include Credit/Debit Cards, Bank Transfers, Crypto, FasaPay, and Skrill.

Axi Pros and Cons

✅ Pros	❌ Cons
Low forex fees	Only forex and CFD trading
No withdrawal/deposit fees	Limited research tools
Easy Account Opening	24/5 customer service

CM Trading

CM Trading is a well-established, well-regulated, award-winning Forex Trading service provider that gives traders access to a wide variety of instruments across several markets.

CM Trading Overview

? Broker	? CM Trading
? Regulation	FSCA, FSB
☪️ Islamic account	☑️ Yes
? Demo Account	✅ Yes
? Institutional Accounts	☑️ Yes
? Managed Accounts	✅ Yes
? Maximum Leverage	1:200
? Minimum Deposit	$100 USD
? Open an Account	? Click Here

CM Trading Deposit and Withdrawal

CM Trading offers safe, easy, and secure options to deposit or withdraw funds from live trading accounts. Methods made available in South Africa include AstroPay, EFT Pay, and Swiffy.

CM Trading Pros and Cons

✔️ Pros	❌ Cons
Segregated Client Funds	No VPS
Well-Established	Limited Range of Instruments

FXPesa

FXPesa is the first locally based broker to offer Forex and CFD products to the East African Retail Market. FXPesa forms part of EGM Securities Limited which is licensed by the Capital Markets Authority of Kenya.

FXPesa Overview

? Broker	? FXPesa
? Min. Deposit	$5 USD
? Bonus Offers	✅ Yes
4️⃣ MetaTrader4	☑️ Yes
? Demo Account	✅ Yes
☪️ Islamic Account	☑️ Yes
? Spreads from	0.2 Pips
? Leverage	1:400
? Regulated by	CMA
? Open an Account	? Click Here

FXPesa Deposit and Withdrawal

FXPesa makes multiple deposit options available including Wire/Bank Transfers, Debit/Credit Cards, e-wallets, and mobile payments. FXPesa accepts Mobile Money in the form of M-Pesa, EassyPay, and, Airtel Money.

FXPesa Pros and Cons

✅ Pros	❎ Cons
Variety of financial products	No ZAR Account
Effective Oversight	Variable Commission

SuperForex

SuperForex is a global service provider that offers its services to 150+ countries across the globe. SuperForex falls under the regulation of the International Financial Services Commission and offers access to a large selection of trading instruments and investment opportunities.

SuperForex Overview

? Broker	? SuperForex
? Min. Deposit	$1 USD
? Spreads	Variable
? Commission	None
? Deposit Fee	None
? Withdrawal Fee	None
? Max Leverage	1:1000
? Bonus Offers	✅ Yes
? Customer Support	24/7
? Open an Account	? Click Here

SuperForex Deposit and Withdrawal

SuperForex makes a wide range of deposit options and withdrawal methods available. SuperForex Deposit options include:

Bank Wire Transfer
Credit/Debit Cards
Electronic Payments
Cryptocurrencies
Local Payment Options
SuperForex Money

Withdrawals from SuperForex may be processed instantly or in up to 4 business days, depending on the method of withdrawal selected.

SuperForex Pros and Cons

✅ Pros	❎ Cons
User-Friendly Trading Platforms	Does not accept US Traders
Multiple Trading Platforms	MT5 not available
Great Customer Support	Withdrawal Fees

XM

XM Group is a MetaTrader-only broker that is known to offer an outstanding selection of high-quality educational content and market research. XM is available globally and has some of the lowest fees in the industry.

XM Overview

? Broker	? XM
? Min. Deposit	$5 USD
✒️ Regulation	FSC / CySEC
? Trading Fee Class	Low
❌ Inactivity Fee	☑️ Yes
? Withdrawal Fee	No
? Demo Account	✅ Yes
? Open an Account	? Click Here

XM Deposit and Withdrawal

XM offers a wide range of payment options for deposits/withdrawals including multiple credit cards, multiple electronic payment methods, bank wire transfers, local bank transfers, and other payment methods.

XM Pros and Cons

✔️ Pros	❌ Cons
Fast digital account opening	Account types vary according to jurisdiction

Scope Markets

Scope Markets is a Global Online broker that offers institutional and retail trading services to investors worldwide. Scope Markets pride itself on transparency, honesty, candidness, excellence, and, innovation.

Scope Markets Overview

? Broker	? Scope Markets
⚖️ Regulating Authorities	IFSC, FSCA, CMA, CySEC
☪️ Islamic account (swap-free)	❌ No
? Demo Account	☑️ Yes
? Average Spread	0.9 pips
? Margin call	50%
? Stop-out	10%
? Minimum trade size	0.01 lots
₿ Crypto trading	❌ No
⬆️ Maximum Leverage	1:500
? Minimum Deposit (ZAR)	$100 USD / R1600 ZAR
? Segregated Accounts	☑️ Yes
? Open an Account	? Click Here

Scope Markets Deposit and Withdrawal

Scope Markets make multiple popular and trusted deposit and withdrawal options available, including Credit Card (Visa or Mastercard), Skrill, Neteller, Wire Transfer, and several other alternative methods.

Scope Markets Pros and Cons

✔️ Pros	❌ Cons
Well-regulated in SA	Spreads are marked-up
High Fund Security	Limited additional offerings
Dedicated Support	Limited range of markets

IQ Option

IQ Option offers its clients a virtually funded demo account, live trading accounts with low minimum deposit requirements, award-winning platforms, a customizable interface, convenient withdrawals, and full-time customer support.

IQ Option Overview

? Broker	? IQ Option
? Regulation	CySEC
☪️ Islamic account (swap-free)	✅ Yes
? Demo Account	✅ Yes
? Institutional Accounts	No
? Managed Accounts	No
? Maximum Leverage	1:30 (Retail)
? Minimum Deposit	$10 USD
Open an Account	? Click Here

IQ Option Deposit and Withdrawal

IQ Option makes a multitude of convenient deposit options and withdrawal methods available. Deposit Options include Visa, MasterCard, Local Bank Options, Neteller, and Skrill.

IQ Option Pros and Cons

✔️ Pros	❌ Cons
Regulated by the Cyprus Securities and Exchange Commission (CySEC)	Does not provide MT4 and MT5 trading platforms
An easy and convenient method of opening an account	Not available for traders in the US, Canada, Australia, Japan, and other countries

Tickmill Review

Tickmill

Tickmill is the trading name of Tickmill Ltd, a member of the Tickmill Group. Tickmill boasts more than 270’000 clients, over 550’000 registered accounts, millions of executed trades, and 200+ employees worldwide.

Tickmill Overview

? Broker	? Tickmill
? Min. Deposit	$100 USD
? Regulation	CySEC, FCA, FSA, FSCA, Labuan FSA
? Trading Platform	MetaTrader4 and MetaTrade5
₿ Crypto	☑️ Yes
? Total Pairs	62
☪️ Islamic Account	☑️ Yes
? Trading Fees	Low
? Open an Account	? Click Here

Tickmill Deposits and Withdrawals

Tickmill makes multiple deposit options and withdrawal methods available. Deposit methods include Bank Transfer, Visa, and Skrill.

Tickmill Pros and Cons

✔️ Pros	❌ Cons
Tickmill offers robust trading platforms and innovative mobile trading	Currency conversion fees will apply for some deposits
Tickmill has a very high trust score and is known for its competitive trading conditions	There are no fixed spread accounts offered
There are several convenient funding options available including Skrill, Neteller, and others	The spreads are not the tightest

Conclusion

Now it is your turn to participate:

Which Forex Broker that Accepts Mobile Money from this list do you intend to test out?

What was the determining factor in your decision to engage with a certain broker?

Was it because of the Mobile Money option on offer or the choice between e-wallets and digital wallet options?

Regardless, please share your thoughts in the comments below.

Frequently Asked Questions

What are the advantages of using mobile money forex brokers for payments?

It is a convenient and secure payment method that allows traders to deposit and withdraw funds with brokers instantly from anywhere, any time. Mobile money services are often available in areas where traditional banking services are limited, making it easier for traders in remote areas to participate in forex trading. Mobile money services often have lower transaction fees compared to traditional banking methods.

Which forex brokers accept mobile money payments?

There are several forex brokers that accept mobile money payments, like XM, Scope Markets, Exness, Pepperstone and more. It is essential to note that not all brokers offer mobile money as a payment method, so traders should check the broker’s website or contact their customer support team to confirm if they accept mobile money payments.

What is mobile money, and how does it work with forex brokers?

Mobile money is a payment system that allows users to transfer funds through their mobile devices, without the need for a bank account. Forex brokers that accept mobile money as a payment method allow traders to deposit and withdraw funds from their trading accounts using their mobile money accounts. Users can fund their mobile money accounts through various channels, such as bank transfers, debit/credit cards, or cash deposits at authorized agents.