Forex Brokers that Accept Mobile Money in Ghana
If you are based in Ghana and want to trade forex, there is a high chance that you are looking for an FX broker that accepts Mobile Money for deposits and withdrawals. According to research by African Payment Solutions, nearly half of Ghana’s population has access to Mobile Money. The most popular telecom provider in the country is MTN Mobile Money, followed by Airtel Money.
Mobile Money is especially popular in Ghana due to its convenience and wide acceptance. It can be used almost anywhere, even at local grocery stores. Because it is so widely used, many forex traders prefer brokers that support Mobile Money as a payment method for funding their trading accounts.
Best Forex Brokers accept Mobile Money and traders from Ghana
While many forex brokers accept traders from Ghana, only a couple of them go to great lengths to support the most popular local payment system - Mobile money. In the list below, we will reveal some of the best forex brokers in Ghana that accept mobile money for both deposits and withdrawals. Let's get started.
| Broker | Regulated by: | Min. deposit | Trading platforms | Spreads from | Special features | Ad Disclosure |
|---|---|---|---|---|---|---|
 | FSCA | $ 10 | MT4, MT5 | 0.2 PIPs¹ |
| |
 | $ 10 | In-house built platform | 1.0 PIP¹ |
|
Your capital is at risk. Leveraged products may not be suitable for everyone.
FX Brokers and Mobile Money in Ghana
Mobile Money was first introduced in Ghana in 2009, but it truly gained momentum in 2013 when the Bank of Ghana revised its regulations on e-money. Since then, mobile network operators have been offering Mobile Money services under the supervision of the Central Bank of Ghana. Today, Ghana, together with Kenya, has one of the fastest-growing Mobile Money markets in Africa.
Even though most Ghanaian forex traders have internet access, many do not have a bank account. Those who do often maintain both a bank account and a Mobile Money account, giving them the flexibility to choose how they want to fund their trading account.
How to open a mobile money account to trade forex?
If you are based in Ghana and do not yet have a Mobile Money account, you can visit the nearest authorized Mobile Money merchant. You can choose from providers such as MTN Mobile Money, AirtelTigo Money, or Vodafone Cash. Finding one should not be difficult, as there are thousands of registered merchants across the country.
When opening a new Mobile Money account, you will be asked to provide your personal details and will receive a new SIM card to insert into your mobile phone. After completing this simple registration process, you will be able to use Mobile Money to pay for almost anything. If you are unsure about the fees charged by specific Mobile Money providers, you can check their official websites or ask your local merchants for details.
Why FX traders from Ghana love Mobile Money
FX traders from Ghana love mobile money because it is the most convenient payment channel in the whole country. It is also safe, fast and affordable. The reason why mobile money is so popular in Ghana is because mobile money transactions can be processed on any kind of phone, which means you can run it even on the old legendary unbreakable Nokia 3310.
Forex Brokers that accept mobile money in Ghana
Currently, the number of forex brokers that accept mobile money in Ghana is relatively low. While this number is starting to increase because many FX brokers want to target fx traders from Ghana, it still might take a few months/years before every at least a bit popular FX broker accepts mobile money. Despite this fact, in the table above, we showed you a couple of very solid brokers that accept Ghanaian traders, so it might be a good idea to consider them if you want to use mobile money and trade on forex.
Top-Tier Trusted Brokers
The table below contains links to 3rd party websites of our top partners from whom we receive compensation at no additional cost to you.
