Mobile Money Brokers 2024

Contributor Image
Written By
Contributor Image
Written By
Michael MacKenzie
Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.
Contributor Image
Edited By
Contributor Image
Edited By
James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
Contributor Image
Fact Checked By
Contributor Image
Fact Checked By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.

Mobile money has become one of the fastest-growing payment methods around the world, with billions of transactions through Apple Pay, Google Pay and other operators worth around $2.7 million per minute in 2023.

The ease and convenience of making payments from your mobile phone has also made this an attractive way to fund online trading accounts, particularly in African countries that have been leading adopters of mobile money brands like M-Pesa.

Mobile Payment Methods For Trading

Explore the best brokers that accept mobile payments by clicking on the solutions below:

Comparing Mobile Money Brokers

The top brokers in our respective lists have all proven themselves as trusted platforms and accept secure and reliable mobile deposits, while also achieving excellent scores in our top criteria:


You need to be able to rely on the broker you’re transferring your money to, so trust is our top priority when we rate trading platforms and it should be yours, too.

Scammers are an ever-present threat to brokers, and in 2023 the UK’s Financial Conduct Authority logged a 21% rise to over 42,000 reports of fraud, so it’s more important than ever to stay vigilant and carefully vet the broker you trade with.

Our trust score considers the broker’s regulatory status and history, giving the highest priority to firms with licenses from ‘green-tier’ watchdogs and a proven track record.

  • DukasCopy has long impressed our experts as a well-regulated broker with oversight from Switzerland’s FINMA. It’s an especially attractive option for mobile money users because it accepts Samsung Pay and Apple Pay and offers an excellent in-house trading app that’s stacked with features and indicators to help you trade its 500+ instruments.


Many day traders need to make mobile money deposits while on the go, often using a public Wi-Fi connection, so it’s incredibly important that you choose a broker with high-level security.

We recommend brokers with cutting-edge security measures like two-factor authentication and biometric ID, as well as strong privacy measures such as SSL encryption.

The best mobile money operators will also employ their own security measures, so you should look out for certificates such as PCI DSS Compliance levels which indicate that they are transparent and undergo external audits.

  • RoboForex remains a secure option for traders who use mobile operators like WeChat Pay, implementing security protocols like SSL to protect your data and two-step authentication to keep funds safe. There’s also a €2.5 million insurance fund to cover client losses to fraud or error.

Mobile Funding Options

There is a wide range of mobile money brands out there, so we look for trading platforms that support the fastest and most convenient providers in the regions where they operate.

Big players like Apple Pay and Google Pay may dominate in Europe and North America, but two-thirds of all mobile transactions take place in sub-Saharan Africa, where local brands like M-Pesa are more popular.

Operators like GCash/Mynt are leading the fast-growing Asian mobile money market, while PIX is a big player in Latin America.

  • XM has long been a favorite among our experts thanks to its inclusive approach to day trading, with clients well served by a range of funding options that include mobile payments via M-Pesa, Apple Pay and Google Pay. The low $5 minimum deposit and swap-free account mean traders almost anywhere can enjoy speculating on XM’s vast range of 1000+ instruments.


Sign up with a broker that has low trading fees to ensure you get the most value out of every mobile deposit.

Over decades of combined day trading experience, our experts have found that the spread between bid and ask prices is usually the most important price to consider if you’re making frequent, short-term trades.

You will generally need to pay a commission to access the tightest spreads, though we’ve been impressed recently to find zero-commission accounts with spreads on major FX pairs below 1.0 pips – a great option for beginners.

Other fees – particularly charges for deposits, withdrawals and currency conversion – can also quickly eat away at your profits, so we prioritize the trading platforms that charge low non-trading fees, if any.

  • For traders seeking a low-cost crypto broker, OKX is among the best, with fees reaching lows of 0.02%/0.05% for makers/takers as well as fee-free peer-to-peer trading. There are also no additional fees for deposits using supported mobile operators like Apple Pay and Google Pay.

Trading Platforms

Choose a broker with a high-quality trading platform and a suite of trading tools that suit your personal trading style.

The platform is one of our main priorities when we review brokers because this is your window onto markets and one of the main factors in executing profitable trades.

Importantly, we place a high emphasis on day trading apps when rating mobile money brokers. With a good app, you can complete every stage of your trading journey from your mobile device, from signing up through funding to placing trades.

Trading USD/CHF on Eightcap via TradingView
  • Eightcap’s fantastic suite of platforms and trading tools remains among the best in the business, with the MetaTrader platforms, the more modern TradingView, and top trading tools including and an AI economic calendar. This makes it one of the best brokers that supports mobile money operators like PIX.

What Is Mobile Money?

Mobile money is a type of payment method that allows traders to store, send and receive funds via their mobile device.

It has become one of the fastest-growing payment methods in the world, with a 12% year-on-year increase in usage bringing the total number of mobile money accounts to 1.75 billion worldwide in 2023, GSMA reports.

There are many different mobile transfer operators around the world, and this payment method has become especially popular with traders in Africa and South Asia, though it’s also a rising force in Latin America and elsewhere.

I’ve found some mobile money providers allow users to do so without needing to connect to a bank, making this especially convenient for traders who don’t have a bank account or don’t want to use it for online trading.
author image
Michael MacKenzie

Transfer Fees

The cost of using mobile money depends on the operator you use and on any deposit charges levied by your broker. Note that mobile operators’ charges also often vary by country.

Since operators will almost always charge a commission on transactions – to the consumer, the vendor or an associated bank – we recommend signing up with a broker that waives or covers any deposit and withdrawal fees to keep your costs down.

You may also need to pay a currency conversion fee if your trading wallet is in a different currency than your mobile money account, so look for an operator that offers a low fee and a good rate.

Transfer Speeds

The speed of mobile transfers is also dependent on the operator, but the good news is that transactions are often completed nearly instantaneously.

The broker’s deposit and withdrawal times are therefore often the deciding factor in how quickly you can fund or empty your account.

Over years reviewing and monitoring hundreds of brokers, we have found that many are now able to complete mobile deposits within hours, if not instantly. Withdrawals tend to take longer, but most should be completed within three working days.

How To Make A Mobile Deposit

To learn how to make a mobile money deposit, check our page on your specific mobile provider, or go to the provider’s website for a guide.

Mobile money is a fast and convenient payment method, and it’s usually possible to deposit by simply entering the relevant phone number or account information or increasingly, by scanning a QR code.

Many mobile payment operators like Apple Pay work by attaching a bank account or card, through which the payments are made.

However, note that some operators like M-Pesa allow users to fund their accounts via ATMs, agents or with vouchers.

Pros & Cons Of Trading With Mobile Money


  • Transfer speeds are among the fastest available and a mobile trading deposit can take just moments to complete.
  • A wide range of mobile money operators exist around the world, allowing traders to choose the best option in their country.
  • Some mobile accounts can be funded via alternative methods, allowing you to day trade without needing a bank account.
  • Users can often perform every step of their trading using the same device, funding their accounts, executing trades and withdrawing their profits to their mobile phones.
  • Using a mobile device to make trading deposits and withdrawals allows for cutting-edge security methods such as fingerprint or face ID.
  • Many operators like Apple Pay are free to users, with the transaction fee instead covered by the bank.


  • Some mobile operators charge a fee per transaction and this can get expensive for day traders.
  • Storing trading funds on a mobile money account carries risks if your device is lost or hacked.
  • Unlike transactions where a bank or credit card provider is involved, you cannot submit a chargeback claim with most mobile operators if you deposit to a scam broker.

Is Mobile Money Good For Day Trading?

Mobile money is increasingly a great way to fund a broker account for many day traders – in some parts of the world it’s simply the quickest and most convenient way to get your funds to and from a trading account.

Make sure you choose a trustworthy and reliable broker by checking our lists of the best trading platforms that accept mobile money deposits.


How Much Does It Cost To Fund A Trading Account With Mobile Money?

The cost depends on the provider – some, like Apple Pay, don’t charge users any additional fees, instead taking a small cut of the transaction from the bank. Other providers like M-Pesa charge a rate per transaction, with the amount you pay scaling with the size of the deposit.

Note that many mobile money providers operate in numerous countries, and the pricing might vary depending on your location.

Also, remember that brokers might also charge their own fees for using this payment method to make deposits or withdrawals.

Is Mobile Money Safe To Use For Day Trading?

Mobile money is a relatively secure payment method that millions of people around the world use every day, and you have nothing to fear as long as you are transacting with a reliable broker.

You should check that the brokerage you deal with is licensed and regulated as well as ensuring you use the most secure method of authentication that’s available.

Article Sources

The writing and editorial team at use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust