M-Pesa Binary Options Brokers

M-Pesa is an online banking application operating in Kenya, facilitating in-store payments as well as money transfers between accounts without users having to open a bank account. This also makes it convenient for funding binary options trading if you’re based in Africa. This guide explains how to make transfers to binary options brokers that accept M-Pesa deposits, as well as typical payment speeds and fees.

Start trading today using our list of the best M-Pesa binary options brokers in 2024.

Binary Brokers with M-Pesa

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About M-Pesa

M-Pesa is an international mobile banking application that was first established in Kenya in 2007 but is now used across Africa, including in Mozambique, Tanzania, Egypt, Ghana, Lesotho, and DRC, becoming the largest fintech platform on the continent with over 604,000 agents and more than 100 million users.

The service was founded by the Kenyan associate of Vodafone, Safaricom, and is now jointly owned by Vodacom and Safaricom. The expansion has provided banking options to many who were not able to easily bank before.

M-Pesa ultimately provides greater safety and speed than other services that are available in these areas. Users can pay bills, send and receive money, get loans, and more.

It can also be used for online trading, giving those in its countries of operation access to global investment opportunities. This includes binary options trading, and several leading brokers including Expert Option and Olymp Trade now accept M-Pesa as a deposit and withdrawal method.

M-pesa brokers

How It Works

To register with M-Pesa you can go to an authorized agent such as a mobile phone store or general purpose store near you, and upon inserting a sim card into your phone, you can deposit cash in exchange for money that will show up electronically on your account. This money can then be sent to other users across the region you are in.

After registering you will be able to facilitate transactions using your phone and a PIN, with secure SMS notifications to confirm all transactions.

Money is sent in real-time, and upon receiving money the recipient can either transfer it elsewhere or take cash out at an agent. This enables users to transfer money quickly and easily without having to open a bank account.

When it comes to binary trading, you can use M-Pesa with any broker that accepts it as a payment method. Begin by checking on the ‘payment methods’ or ‘deposits and withdrawals’ section of the broker’s website.

If the broker facilitates M-Pesa deposits and withdrawals, then you will be able to use your account to trade binary options with the firm. Although the payment brand is more commonly seen on African brokerage accounts, several international binary options brokers also accept it given the increasing potential that has been seen in the Kenyan markets in recent years.

Transaction Times

Because M-Pesa is an entirely digital and independent mobile banking service, it is able to deliver transactions with greater speed than other binary options deposit and withdrawal methods, such as bank wire transfers. While solutions like this can take up to five working days, M-Pesa deposits to your binary options broker are normally instant.

To increase the speed of transactions, you can download the M-Pesa application onto any Android or Apple mobile device. When this has been set up, you can make deposits and withdrawals to and from M-Pesa binary options brokers quickly and easily from your phone.

Note that transactions will only be instant if your chosen brokerage facilitates immediate transfers. Most M-Pesa binary options brokers advertise their transaction times alongside their accepted payment methods on their websites.

It is also worth noting that withdrawals typically take longer as binary options brands often have to verify traders’ identities before releasing profits.

Pricing Review

There are fees for transferring money from your M-Pesa account and they vary depending on the amount that is being transferred and will be processed in Kenyan Shillings (KES).

When transferring money below the amount of 100 KES, there are no transfer fees, but above this, fees will begin to rise as the amount goes up. Between 100 and 500 KES, the charge is only 6 KES, but above 5,000 the charge becomes 166 KES. This continues to increase up to the daily transaction limit of 300,000 KES.

Although there are fees incurred from using M-Pesa as a service, most binary options brokers do not charge traders for depositing or withdrawing funds using the payment method. With that said, traders may be liable for a currency conversion charge if their binary options account is denominated in USD, for example.


Since all of the transactions made through the payment solution are electronic, they can be monitored by Safaricom directly. Safaricom monitors for money laundering and stores information on every transaction that takes place; reports on transactions are regularly sent to the Central Bank of Kenya the same way they are from other financial services providers.

They also carry out essential KYC checks for everyone who signs up to prevent fraud and verify all transactions that are made between traders and binary options brokers that accept M-Pesa deposits.

Overall, the payment solution is a relatively safe way to deposit and withdraw money in and out of your binary options trading account.

Traders should also ensure that they use a broker that is reliable and trustworthy. Choosing a safe service or bank to hold your funds is vital, but so is choosing a broker that is going to do the same. Use our list of the best M-Pesa binary options brokers to find a secure provider.

Transfer Limits

It’s worth noting that aside from deposit and withdrawal limits that are placed on transactions by M-Pesa binary options brokers, there is also a limit on daily transactions that are set by the payment provider, meaning that you cannot withdraw more than 50 KES or more than 150,000 KES per day.

M-Pesa also has a daily deposit limit of 300,000 KES which is the most that you can have in your account at any given time.

Pocket Option mobile trading app

Pocket Option mobile trading apps

Pros Of M-Pesa Binary Options Brokers


For transferring money in and out of your binary options account, M-Pesa is safe and secure as well as fast. These components make it a suitable payment method for funding binary options trading activity.


Considering the high transaction allowances and security that the payment solution provides, the fees are relatively low, especially since the majority of binary options brokers that accept M-Pesa deposits do not charge anything for transfers.

Increases Financial Accessibility

M-Pesa has made binary options trading accessible to those in regions that do not have straightforward banking access, and anyone in supported regions can use it as a means of transferring money. The app is easy to use and the transactions are quick, making it good value for money too.

Cons Of M-Pesa Binary Options Brokers

Limited Options

In terms of payment options, it is not the most widely accepted deposit and withdrawal solution. This means that traders will not have the same range of binary options brokers to choose from as they would if using a more popular payment method like PayPal or credit card.

Low Global Access

Outside of Africa, it is uncommon that M-Pesa is going to be accepted, which makes it hard to trade with binary options brokers that operate elsewhere.

How To Make Deposits & Withdrawals To Binary Options Accounts

Deposits and withdrawals to and from M-Pesa are straightforward for binary options trading. Once you have downloaded the app to your mobile phone and registered for an account, you can connect it to your Safaricom sim and deposit money into your account.

When there is money in your M-Pesa account, you can use it to deposit money into your binary options trading account, and any money that you make trading can be withdrawn from your broker to your M-Pesa account.

Simply select M-Pesa as the payment option on your binary options broker’s cashier portal when depositing or withdrawing funds.

Verdict On M-Pesa Binary Options Brokers

M-Pesa is a secure and fast way to deposit and withdraw money in and out of your online investing account and has increased access to binary options trading in several African countries.

However, traders will be restricted in terms of the binary options brokers that accept M-Pesa deposits vs more common payment methods like bank wire, credit card, or PayPal. Head to our ranking of the top M-Pesa binary options brokers to get started.


Can I Use M-Pesa To Fund Binary Options Trading?

M-Pesa is a Kenyan-run online payment service that facilitates money transfers between users and also from users to companies. This means that traders can transfer money to binary options brokers that accept M-Pesa deposits. African traders can also make binary options deposits using the payment provider’s mobile app.

Is M-Pesa Safe To Use For Binary Options Trading?

M-Pesa is secure to keep your money in. As long as you are using it with trusted M-Pesa binary options brokers, then it is a safe way to manage online trading activity. Use our list of the top binary options brokers that accept M-Pesa deposits to find a trustworthy trading platform.

Which Countries Is M-Pesa Available To Binary Options Traders?

M-Pesa is currently available to binary options traders in Kenya, Tanzania, Afghanistan, Mozambique, Egypt, Ghana, Lesotho, and DRC. Funds can also be sent to MTN customers in Uganda.

Should I Use M-Pesa For Binary Options?

M-Pesa is not as widely used as other electronic payment methods like PayPal, Skrill and Neteller, and because it is primarily used in African countries this limit the number of binary options brokers that support it. However, some popular brands like Olymp Trade and Expert Option do accept M-Pesa deposits and withdrawals.

If you find a binary broker that supports M-Pesa payments, then it’s a sound option for deposits and withdrawals due to its high-security levels, fast transaction times, and low withdrawal charges.