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FXPesa Review

4.5/5 - (10 votes)

FxPesa Review (1)

 

Overall, FXPesa can be summarised as a trustworthy and highly regulated Forex Broker that is very competitive in terms of its trading fees. FXPesa offers an easy-to-use social copy trading platform with excellent customer support. FXPesa offers Ivory Coast traders two retail trading accounts, namely an Executive and Premiere Account. FXPesa has a trust score of 82 out of 99.

 

🔍Order Execution4/5
💵Commissions and Fees4/5
📈Range of Markets3/5
📊Variety of Markets3/5
⏱️Withdrawal Speed3/5
☎️Customer Support4/5
📉Trading Platform4/5
👨‍🎓Education4/5
🗂️Research2/5
⌛Regulation4/5
📱Mobile Trading4/5
💯Trust Score82%

 

 

FXPesa Review

 

FXPesa Review – Analysis of Brokers’s Main Features

 

  1. FXPesa Overview
  2. FXPesa Detailed Summary
  3. FXPesa – Advantages over Competitors
  4. Who will Benefit from Trading with FXPesa?
  5. FXPesa Safety and Security
  6. FXPesa Bonus Offers and Promotions
  7. FXPesa Affiliate Program Features
  8. FXPesa Account Types and Features
  9. FXPesa Base Account Currencies and Basic Order Types
  10. FXPesa – Slippage and Requote Policy
  11. How to open an Account with FXPesa
  12. FXPesa Trading Platforms
  13. Which Markets Can You Trade with FXPesa?
  14. FXPesa Fees, Spreads, and Commissions
  15. FXPesa Deposits and Withdrawals
  16. FXPesa Education and Research
  17. FXPesa Customer Support
  18. FXPesa Corporate Social Responsibility
  19. FXPesa Cashback Rebates Features and Conditions
  20. FXPesa Web Traffic Report
  21. FXPesa Geographic Reach and Limitations
  22. FXPesa vs easyMarkets vs AvaTrade – A Comparison
  23. FXPesa Alternatives
  24. FXPesa Awards and Recognition
  25. Additional Features of FXPesa
  26. Recommendations according to our in-depth review of FXPesa
  27. FXPesa Customer Reviews
  28. Pros and Cons of Trading with FXPesa
  29. In Conclusion
  30. Frequently Asked Questions

 

 

FXPesa Review – Analysis of Brokers’s Main Features

 

FXPesa Overview

 

FXPesa is a fully regulated online broker that champions financial freedom and literacy in Kenya and across the Globe. FXPesa is licensed by Kenya’s Capital Market Authority and offers access to 24/6 Customer Support.

FXPesa traders can trade across Desktop, tablet and mobile safely thanks to Two-step account verification. Furthermoore, traders can choose between a Demo and multiple live trading accounts.

 

 

FXPesa Overview

 

FXPesa Detailed Summary

 

ℹ️ BrokerFXPesa
🏦HeadquarteredNairobi, Kenya
🌎Global OfficesKenya, United Kingdom
📈Local Market Regulator in Ivory CoastBanking Commission of the West African Economic Monetary Union (WAEMU)
🗂️Foreign Direct Investment in Ivory Coast1.4 billion USD (2021)
💵Foreign Exchange Reserves in Ivory Coast2.5 million USD (April 2024)
🏪Local office in YamoussoukroNone
👤Governor of SEC in Ivory CoastNone
✔️Accepts Ivory Coast Traders?✅ Yes
🔢Year Founded2019
☎️Ivory Coast Office Contact NumberNone
💻Social Media PlatformsFacebook
Twitter
Telegram
Instagram
YouTube
📊RegulationFCA, CMA
🔖Tier-1 LicensesFinancial Conduct Authority (FCA)
🛎️Tier-2 LicensesCapital Markets Authority (CMA)
🔍Tier-3 LicensesNone
📌License NumberKenya – AAAAFF7 CMA 107
United Kingdom – Equiti Capital UK Ltd (07216039), FCA (528328)
💴Banking Commission of WAEMU RegulationNone
❌Regional RestrictionsAfghanistan, Bahamas, Burundi, Crimea, Cuba, Democratic Republic of Congo, Eritrea, Haiti, Iran, Israel, Libya, Myanmar, Nicaragua, North Korea, Panama, Somalia, Sudan, Syria, Turkmenistan, United States Minor Outlying Islands, Virgin Islands, United States,
Western Sahara, Yemen, Zimbabwe
🤝Islamic Account✅ Yes
📝Demo Account✅ Yes
ℹ️Non-expiring Demo✅ Yes, if used regularly. Inactive demo accounts expire after 90 days.
⏲️Demo DurationUnlimited if used frequently
🚩Retail Investor Accounts2
🔍PAMM AccountsNone
➡️Liquidity ProvidersUnknown
👥Affiliate Program✅ Yes
👨‍⚖️Order ExecutionMarket
🚨OCO OrdersNone
🖥️One-Click Trading✅ Yes
⚠️Scalping✅ Yes
🖋️Hedging✅ Yes
🗣️Expert Advisors✅ Yes
📰News Trading✅ Yes
↘️Trading API✅ Yes
📒Starting spread0.0 pips EUR/USD
⬇️Minimum Commission per Trade$7
💷Decimal PricingFifth decimal after the comma
💡Margin Call100%
🛑Stop-Out30%
⬇️Minimum Trade Size0.01 lots
⬆️Maximum Trade Size150 lots per single trade
💰Crypto trading offered?None
🔎Offers a XAF Account?None
👤Dedicated Ivory Coast Account Manager?None
⬆️Maximum Leverage1:400
⛔Leverage Restrictions?✅ Yes, according to the financial instrument
💴Minimum Deposit (XAF)3,050 XAF ($5)
💸Deposit CurrenciesKES, UGX, TZS, USD
☑️Are XAF Deposits Allowed?None
💷Account Base CurrencyUSD, KES
📝Active Ivory Coast Trader StatsUnknown
👥Active FXPesa customers100,000+
👩‍👧‍👧Active FXPesa customers in Ivory CoastUnknown
💵Ivory Coast Daily Forex Turnover$5 trillion+ (Overall Forex Globally)
💳Deposit and Withdrawal OptionsM-PESA
EAZZYPAY
Airtel Money
Airtel UG
Airtel TZ
MTN
Vodacom
HaloPesa
TigoPesa
Neteller
Skrill
Credit/Debit Cards
Local and International Bank Transfers
⏱️Minimum Withdrawal TimeInstant
⌚Maximum Estimated Withdrawal TimeUp to 15 Working Days
✔️Instant Deposits and Instant Withdrawals?✅ Yes
🗂️Segregated Accounts?✅ Yes
📊Segregated Accounts in Ivory Coast?None
📌Trading PlatformsMetaTrader 4
MetaTrader 5
Equiti Trader App
⌛Trading Platform Time+01:00 GMT
👁️‍🗨️Observe DST Change✅ Yes
🕰️DST Change Time zoneGreenwich Mean Time
🚩Tradable AssetsForex
Indices
Commodities
Shares
ETFs
💡FXPesa USD/XAF Forex Pair?None
ℹ️Are local Stocks and CFDs offered?None
🗣️Languages supported on the WebsiteEnglish
👥Customer Support LanguagesMultilingual
📝Copy Trading SupportNone
⏰Customer Service Hours24/6
👩‍👧‍👧Customer Support in Ivory Coast?None
🎁Bonuses and Promotions for Traders?✅ Yes
🎓Education for beginners✅ Yes
🔍Proprietary trading softwareNone
🏆Most Successful Ivory Coast TraderUnknown
✔️Is FXPesa a safe broker for traders?✅ Yes
☑️Rating for FXPesa in Ivory Coast8/10
💯Trust score for FXPesa in Ivory Coast82%

 

 

FXPesa Detailed Summary

 

FXPesa – Advantages over Competitors

 

FXPesa has the following notable advantages over competitors:

 

  • Multi-Platform Accessibility: FXPesa prioritizes accessibility by providing a seamless trading experience across various platforms. Whether traders prefer desktop, mobile, or tablet devices, FXPesa optimizes their platform.
  • Generous Leverage Opportunities: FXPesa enhances traders’ profit potential by offering high leverage ratios of up to 400:1 on forex trades.
  • Transparent Fee Structure: FXPesa takes pride in its transparent fee structure, ensuring no hidden charges or surprises for traders.
  • Extensive Global Presence and Expertise: FXPesa stands out with its wide international reach, providing traders with diverse, flexible, and innovative trading options.
  • Wide Variety of Tradable Products: FXPesa offers an extensive selection of tradeable products, encompassing forex, Contracts for Difference (CFDs), commodities, and indices.
  • Comprehensive Educational Materials: FXPesa prioritizes the growth and development of its traders by offering a wealth of educational resources. These resources empower beginner traders and help them understand the intricacies of forex and CFD trading.

 

Finally, with exceptional 24/6 Customer Support, FXPesa goes above and beyond to ensure exceptional customer service. Their dedicated support team is available round the clock, six days a week, ready to assist traders with queries or concerns.

 

 

FXPesa – Advantages over Competitors

 

Who will Benefit from Trading with FXPesa?

 

FXPesa offers a remarkable demo account for those just starting their trading journey. This invaluable tool allows beginners to gain practical experience with real market prices.

Moreover, the demo account provides unlimited usage and grants access to the MT4, mobile apps, and WebTrader platforms, enabling traders to familiarise themselves with different trading environments.

 

 

FXPesa Who will Benefit from Trading with

 

FXPesa Safety and Security

 

FXPesa Regulations in Ivory Coast

 

FXPesa is not currently regulated by the Banking Commission of the West African Economic Monetary Union (WAEMU). However, FXPesa is well-regulated by several reputable market regulators in other countries, as per the table in the following section.

 

FXPesa Global Regulations

 

🖋️Registered Entity🌎Country of Registration📝Company Reg.📈Regulatory Entity📌Tier🔢License Number/Ref
✔️EGM Securities LimitedKenyaPVT-AAAAFF7CMA2CMA 107
🚩Equiti Capital UK LimitedUnited Kingdom07216039FCA1528328

 

How FXPesa Protects Ivory Coast Traders and Client Funds

 

🔍Security Measureℹ️ Information
📌Segregated Accounts✅ Yes
👤Compensation Fund Member✅ Yes
💵Compensation AmountN/A
📝SSL Certificate✅ Yes
➡️2FA (Where Applicable)✅ Yes
🛑Privacy Policy in Place✅ Yes
❌Risk Warning Provided✅ Yes
⛔Negative Balance Protection✅ Yes
✔️Guaranteed Stop-Loss OrdersNone

 

FXPesa Security while Trading

 

EGM Securities Limited, the operator of FXPesa, follows the regulations established by Kenya’s Capital Markets Authority (CMA), ensuring customer protection. FXPesa follows the CMA’s guidelines, so traders in the Ivory Coast can rest easy.

The CMA has approved FXPesa as an authorised and regulated online non-dealing foreign exchange brokerage. The company strictly adheres to the CMA’s regulations, which include fund segregation. This means that funds from all customers are kept separate and stored in separate bank accounts.

In Kenya, the Capital Markets Act requires companies like FXPesa to obtain licenses and be supervised as intermediaries. Furthermore, the act aims to promote market growth, educate and inform investors, and protect their rights as financiers.

FXPesa ensures the protection of client funds by adhering to these regulations, thereby creating a safe trading environment for all traders.

 

Pros and Cons Regulation and Safety of Funds

 

✅ Pros❎ Cons
FXPesa is trusted and guarantees client fund securityFXPesa is not locally regulated

 

 

FXPesa Safety and Security

 

FXPesa Bonus Offers and Promotions

 

The following bonuses are available from FXPesa:

 

  • Karibu Trading Bonus:
    • FXPesa offers a welcome bonus called the Karibu Trading Bonus.
    • It rewards first-time deposits with up to $150 in extra credit.
    • The bonus is a welcome gesture to new traders in the Kenyan market.
    • Traders can utilise the bonus to boost their trading capital and explore more opportunities.
  • Referral Bonus:
    • FXPesa has a referral bonus program for clients to refer their friends.
    • Both the referrer and their friend receive a $15 trading bonus.
    • To participate, clients must obtain a referral code by texting “Friend” to 40184.
    • Once the referred friend opens an account, the referrer becomes eligible for the bonus.
    • Stay updated on FXPesa’s Telegram or Facebook channels for referral contests and additional prizes.

 

 

FXPesa Bonus Offers and Promotions

 

FXPesa Affiliate Program Features

 

As an affiliate partner of FXPesa, you stand to gain from a wide array of unique advantages. These benefits will enhance your business model, expand your client network, and increase your earnings.

 

High Commissions and Rebates

 

One of the key benefits of partnering with FXPesa is the potential for significant earnings through market-leading rebates and high commissions. As an Introducing Broker for FXPesa, you’ll have a prime opportunity to broaden your client base and enhance your revenue streams.

 

Partnership with a Trusted Global Broker

 

FXPesa is a respected global broker that highly values partnership fairness and transparency. By joining forces with FXPesa, you associate your business with a trusted brand that adheres to high standards of integrity and openness, which can help to bolster your reputation in the marketplace.

 

Micro Lot Offerings

 

Another advantage of becoming an FXPesa affiliate is offering micro lots to your clients. This feature provides competitive rates and lets your clients start trading with smaller capital.

In addition, FXPesa offers tiered commission plans, enabling you to benefit from increased earnings as your client base grows.

 

Dedicated Partnership Support

 

FXPesa’s commitment to its affiliates extends to robust support from dedicated partnership managers. These managers will guide you through onboarding and offer ongoing assistance, ensuring a smooth and beneficial partnership.

 

Real-Time Reporting and Live Dashboard

 

As an FXPesa affiliate, you can access real-time reports through a live dashboard. This tool provides up-to-the-minute information on all trading activities, helping you make informed decisions and monitor your earnings effectively.

 

Access to Top Financial Products and Trading Platforms

 

FXPesa prides itself on offering top financial products and industry-leading trading platforms. As an affiliate, you can connect your client network to these offerings, enhancing your value proposition and meeting a wide range of trading needs.

 

Flexible Withdrawal Options

 

Your earnings as an FXPesa affiliate are made even more accessible by flexible withdrawal options. Choose when to withdraw your commissions using convenient payment service providers like M-Pesa. This flexibility ensures that your earnings are available when you need them.

 

Partnership with a Regulated Broker

 

Finally, becoming an FXPesa affiliate allows you to partner with a trusted and regulated broker. FXPesa is a part of the global Equiti Group and is regulated by reputable authorities such as the Financial Conduct Authority (FCA) and the Capital Markets Authority (CMA).

This regulation assures FXPesa’s commitment to compliance and fair trading practices.

 

How to open an Affiliate Account with FXPesa

 

To join FXPesa’s affiliate program and start earning as a partner, follow these steps:

 

  • ✅ Visit the official FXPesa website using your preferred web browser.
  • ✅ Locate and click on the “Partners” section on the website.
  • ✅ Look for the option to join the affiliate program and click on it to initiate the registration process.
  • ✅ Fill out the registration form with the required information, including your accurate name, email address, phone number, and other relevant details.
  • ✅ Take the time to carefully read and understand the terms and conditions of the affiliate program. If you agree to the terms, check the box or click the button to accept them.
  • ✅ After completing the registration form and accepting the terms, submit the form by clicking on the “Submit” or “Register” button.
  • ✅ Depending on the specific requirements of the affiliate program, you may need to verify your email address or provide additional documentation for registration. Follow the instructions provided by FXPesa for the verification process.
  • ✅ Once your registration is approved and your account is verified, you will receive login credentials for your affiliate account. Use these credentials to access your account and manage your affiliate activities effectively.

 

 

FXPesa Affiliate Program Features

 

FXPesa Account Types and Features

 

📌Live Account💵Minimum Dep.⌛Average Spread💸Commissions🔍Average Trading Cost
🥇Executive$5 / 3,050 XAF1.4 pipsNone14 USD
🥈Premiere$100 / 61,000 XAF0.0 pips$77 USD

 

FXPesa Live Trading Account Details

 

FXPesa Executive Account

 

The Executive Account, tailored to meet the diverse needs of Ivory Coast traders, presents highly competitive trading conditions that cater to traders of all styles, experience levels, and strategies.

In addition, this account offers an array of distinctive features designed to enhance the trading experience. These unique features include:

 

🔍Account Feature💵 Value
💴Minimum Deposit3,050 XAF, equivalent to $5
📌Platforms OfferedMetaTrader 4
Equiti Trader App
MetaTrader 5
📊Typical Spreads1.4 pips
🛎️Instruments Available62 currency pairs
6 precious metals
37 CFDS
240+ Shares
⬆️Maximum Leverage RatiosForex and Precious Metals – 1:400
CFDs – 1:200
Equities – 1:20
📈Fixed LeverageOn MetaTrader 4 and FXPesa Mobile, on Forex, precious metals, CFDs and equities
📉Dynamic LeverageOn MetaTrader 5 on Forex, precious metals, CFDs and equities
✔️Demo Account Offered?✅ Yes
👨‍⚖️Order ExecutionMarket
⬇️Minimum Trade Size0.01
⬆️Maximum Trading Volume for a single trade150 lots for major financial instruments
➡️Maximum Number of Open/Pending Trades500
💷Base Account CurrencyUSD
🛑Stop-out30%
💸Commission ChargesNone

 

 

FXPesa Executive Account

 

FXPesa Premiere Account

 

Catering to the requirements of seasoned and high-volume traders, the Premiere Account provides a perfect solution with superior trading conditions tailored to their specific needs.

This account is designed to offer the best-in-class features, including razor-thin spreads, enabling traders to execute their strategies with maximum precision and efficiency.

 

🔍Account Feature💵 Value
💴 Minimum Deposit61,000 XAF, equivalent to $100
📌Platforms OfferedMetaTrader 4
Equiti Trader App
MetaTrader 5
📊Typical Spreads0.0 pips
🛎️Instruments Available62 currency pairs
6 precious metals
37 CFDS
240+ Shares
⬆️Maximum Leverage RatiosForex and Precious Metals – 1:400
CFDs – 1:200
Equities – 1:20
📈Fixed LeverageOn MetaTrader 4 and FXPesa Mobile, on Forex, precious metals, CFDs and equities
📉Dynamic LeverageOn MetaTrader 5 on Forex, precious metals, CFDs and equities
✔️Demo Account Offered?Yes
👨‍⚖️Order ExecutionMarket
⬇️Minimum Trade Size0.01
⬆️Maximum Trading Volume for a single trade150 lots for major financial instruments
➡️Maximum Number of Open/Pending Trades500
💷Base Account CurrencyUSD
🛑Stop-out30%
💸Commission Charges$7 per standard lot, round turn on Forex and precious metals

 

 

FXPesa Premiere Account

 

FXPesa Demo Account

 

FXPesa offers traders a valuable opportunity to use a demo account, which allows them to test their strategies in real market conditions for free. The demo account allows unlimited use, giving traders a risk-free environment to practice and hone their trading skills.

Traders can gain valuable insights without having to pay sign-up fees, deposits, or downloads by having access to various tools and the ability to experience real market action using virtual funds.

FXPesa goes above and beyond by providing educational resources such as financial training, free webinars, and events to enhance the demo trading experience.

Traders are given $10,000 in virtual funds and have access to real-time markets. The demo account works on all devices and is compatible with popular platforms such as MT4, MT5, and Equiti Trader.

 

 

FXPesa Demo Account

 

FXPesa Islamic Account

 

Recognising the needs of traders who follow Islamic principles, FXPesa offers the Swap Free Account. This account enables traders to trade specific instruments without paying swap fees. Traders can request the Swap Free Account, subject to certain terms and conditions.

While the standard account type charges swap fees on overnight positions, the Swap Free Account provides an alternative for traders who prefer to avoid such fees.

It is important to note, however, that administrative fees may apply to positions kept open for an extended period. FXPesa reserves the right, at its sole discretion, to modify or revoke the Swap Free Account terms and impose additional fees.

 

 

FXPesa Islamic Account

 

Pros and Cons FXPesa Account Types and Features

 

✅ Pros❎ Cons
FXPesa offers flexible trading conditions on its trading accountsFXPesa does not provide transparent policies on slippage or requotes
Ivory Coast traders can expect razor-thin spreads from 0.0 pips and commissions from $7 round turn per lotFXPesa only has two base currency options
FXPesa offers a commission-free trading option where only the spread is chargedThe Executive Account has higher spreads when compared to similar accounts of competitors

 

 

Pros and Cons FXPesa Account Types and Features

 

FXPesa Base Account Currencies and Basic Order Types

 

FXPesa Base Account Currencies

 

FXPesa only supports USD or KES as the currency in which Ivory Coast traders can register an account, exposing them to currency conversion fees when they deposit or withdraw in other currencies.

 

FXPesa Basic Order Types

 

FXPesa’s basic order types are as follows:

 

  • ✅ Market Orders
  • ✅ Pending Orders
  • ✅ Take Profit
  • ✅ Stop-Loss Orders

 

Market Orders

 

A Market Order is a request to buy or sell a Contract for Difference (CFD) at the prevailing market price as promptly as possible, opening a trade position. CFDs are purchased at the ASK price and sold at the BID price.

Furthermore, with FXPesa, Market Orders are available for all accounts. In addition, Market Orders can be accompanied by Stop Loss and Take Profit Orders.

 

Pending Orders

 

Pending Orders are requests to buy or sell a CFD at a pre-defined price in the future once a certain price is reached. FXPesa offers four Pending Orders: Buy Limit, Buy Stop, Sell Limit, and Sell Stop.

These orders are executed when the price reaches the specified level. However, executing at the requested price may be impossible under certain trading conditions. FXPesa has the right to execute the order at the first available price in such cases.

Stop Loss and Take Profit Orders can be attached to a Pending Order and are valid until cancelled. In addition, Pending Orders are available for all accounts with FXPesa.

 

Take Profit

 

Take Profit Orders are intended to secure profit when the price of a CFD reaches a specific level. The execution of this order results in the complete closure of the entire position and is always connected to an open, market, or pending order.

In addition, the FXPesa platform checks long positions with the BID price and short positions with the ASK price to determine if the provisions of the Take Profit Order have been met.

 

Stop-Loss Orders

 

Stop-Loss Orders are used to minimize losses if the price of a CFD begins to move in an unprofitable direction. If the price of the CFD reaches the Stop-Loss level, the entire position will be automatically closed.

Stop-Loss Orders are always connected to an open, market, or pending order. The FXPesa platform checks long positions with the BID price and short positions with the ASK price to determine if the provisions of the Stop-Loss Order have been met.

 

FXPesa – Slippage and Requote Policy

 

FXPesa recognizes the importance of transparency in providing information to Ivory Coast traders. While specific details regarding slippage or requotes are not explicitly mentioned, it is essential to understand the following terms and conditions outlined by the broker:

 

  • Manifest Error: FXPesa retains the right to cancel or modify the terms of any transaction in the event of a “Manifest Error.” This error refers to an obvious or palpable mistake. FXPesa may consider relevant factors, such as the condition of the Underlying Market at the time of the error and any errors or lack of clarity within information sources or announcements.
  • Quotation Rejection: FXPesa reserves the right to reject your offer if the quoted price was not obtained from them per their terms or if the quote explicitly indicates that it is “for indicative purposes only” or similar. This ensures that trading activities are conducted within the framework set by FXPesa, maintaining fairness and accuracy in the quoting process.

 

While specific details may not be explicitly provided, FXPesa upholds the commitment to fair trading practices, ensuring that transactions are carried out based on accurate information and in compliance with their terms and conditions.

Ivory Coast traders are encouraged to review the complete terms and conditions provided by FXPesa to fully understand their rights and obligations when engaging in trading activities.

 

 

FXPesa Base Account Currencies and Basic Order Types

 

How to open an Account with FXPesa

 

To make account registration easier for Ivory Coast traders, FXPesa offers a simple process that includes the following steps:

 

  • Registration for a Live Account:
    • Register for a live account directly on the FXPesa website. There are three sections to the online registration form.
      • Provide your personal and contact information, including your full name, phone number, and email address.
      • Provide your home address, employment information, and financial background.
    • Provide your trading history, tax information, and a strong password for your client portal.
  • Application Acceptance and Document Upload:
    • You will receive an email confirmation after completing the online application form.
    • Log in to your client portal and upload the necessary documents for verification.
    • Following the account approval process, you will receive an email with your login credentials and a link to download the MT4 trading platform.
  • Additional documentation (if applicable):
    • FXPesa may ask for additional documentation to confirm that the bank account is in your name.
  • Adding Money to Your Account:
    • Log in to your client portal and choose the best payment method.
    • Select the desired payment method, deposit currency, and deposit amount.
    • FXPesa charges no fees for any of its deposit methods.
  • Trading Procedure:
    • Enter your login information into the trading terminal.
    • Put your favourite instruments on the market watch list.
    • Set the parameters for your order after selecting the desired financial instrument.
    • Open and close orders per your trading strategy.

 

How to close My Account with FXPesa

 

To close a live trading account with FXPesa, Ivory Coast traders can follow these steps:

 

  • ✅ Make sure your trading account has no open or pending positions.
  • ✅ Check to see if your account has any pending transactions.
  • ✅ Send an email to [email protected] from your registered email address requesting that your account be closed.

 

 

FXPesa How to open an Account

 

FXPesa Trading Platforms

 

FXPesa MetaTrader 4

 

FXPesa is proud to offer MetaTrader 4 (MT4), a highly regarded trading platform traders use worldwide. Through MT4, Ivory Coast traders can access various financial instruments, including Forex, indices, commodities, shares, and ETFs.

Furthermore, Ivory Coast traders can benefit from the following:

 

  • ✅ Traders can easily choose between Executive and Premiere accounts and fund their trading activities with M-Pesa, banks, cards, or eWallets.
  • ✅ Traders can use the power of MT4 on their smartphone, laptop, or tablet and stay up to date with instant notifications.
  • Ivory Coast traders can experiment with various order execution types, time frames, and reporting features thanks to over 80 trading tools, including expert advisors (EAs).
  • ✅ Hedging is possible with MT4, which provides a versatile trading environment that accommodates various trading strategies.

 

 

FXPesa MetaTrader 4

 

FXPesa MetaTrader 5

 

FXPesa provides MetaTrader 5 (MT5) for a more comprehensive trading experience, expanding on the features of MT4. MT5 provides Ivory Coast traders access to various products, data, and tools.

On Executive and Premiere accounts, you can trade forex, indices, commodities, stocks, and ETFs. You can fund your account with M-Pesa, banks, cards, or eWallets, just like with MT4.

Traders can easily use 88 trading tools, including EAs and advanced features like multi-thread strategy testing and detailed market watch data. MT5 supports a variety of trading styles by allowing hedging and netting.

Furthermore, traders can Investigate various order execution types, pending orders, and time frames. Lastly, the MT5 platform includes features such as partial order filling, a trading scripts marketplace, an economic calendar, and market depth.

 

 

FXPesa MetaTrader 5

 

FXPesa Equiti Trading App

 

Designed specifically for FXPesa, the Equiti Trader app is a mobile platform for traders who prefer to trade on their mobile devices.

Equiti Trader is compatible with iOS 12+ and Android 7.1+ operating systems and offers a user-friendly interface and a wide range of features. Deposit funds quickly and easily with M-Pesa, Neteller, or Skrill, and enjoy instant notifications and in-app support.

Ivory Coast traders can use their mobile devices to trade forex, indices, commodities, stocks, and ETFs. Furthermore, to stay informed, traders can use Interactive TradingView charts for in-depth market analysis, a transparent activity log, and a comprehensive economic calendar.

Overall, we know the Equiti Trader app provides Ivory Coast traders with a smooth and efficient mobile trading experience.

 

 

FXPesa Equiti Trading App

 

Pros and Cons FXPesa Trading Platforms

 

✅ Pros❎ Cons
FXPesa offers traders innovative and robust mobile trading platformsFXPesa's platform is not available on desktop or web browsers

 

 

FXPesa Trading Platforms

 

Which Markets Can You Trade with FXPesa?

 

Ivory Coast traders can expect the following range of markets from FXPesa:

 

  • ✅ Forex
  • ✅ Indices
  • ✅ Commodities
  • ✅ Shares
  • ✅ ETFs

 

Financial Instruments and Leverage offered by FXPesa

 

🔍 Instrument🔢 Number of Assets Offered⬆️ Max Leverage Offered
🥇 Forex541:400
🥈 Shares300+1:200
🥉 Indices301:200
🎖️ Commodities141:400
🏆 ETFs81:200

 

Pros and Cons FXPesa Range of Markets

 

✅ Pros❎ Cons
FXPesa offers decent leverage across markets and risk management toolsThere are limited financial instruments and a lack of variety in the asset classes offered
FXPesa offers a variety of asset classesFXPesa does not support cryptocurrency trading

 

 

FXPesa Which Markets Can You Trade

 

FXPesa Fees, Spreads, and Commissions

 

FXPesa Spreads

 

FXPesa charges the following spreads according to the main account types:

 

  • ✅ Executive Account – 1.4 pips EUR/USD
  • ✅ Premiere Account – 0.0 pips EUR/USD

 

FXPesa Commissions

 

FXPesa charges commissions on the Premiere Account from $7 per standard lot traded, which works out to $3.50 per side.

 

FXPesa Overnight Fees, Rollovers, or Swaps

 

FXPesa implements overnight fees, also called rollover fees or swaps, to account for the adjustment in the price of specific products. These fees enable traders to maintain open positions without physically acquiring the underlying assets.

Ivory Coast traders must familiarise themselves with the rollover fees associated with each product to manage their trading strategies effectively.

When trading Forex or CFDs on a “spot” basis using FXPesa’s MT4 or MT5 platforms, most trades settle on a T+2 (two business days) basis from the trade initiation.

However, currency pairs, such as USD/CAD, USD/RUB, and USD/TRY, have a shorter settlement period of T+1 (one business day). It’s important to note that different asset classes have varying settlement dates, and financing costs are calculated per position. Traders should be aware that these fees may be deducted from their accounts.

The calculation of overnight fees for forex and oil CFDs involves the formula: Lots x Contract Size x Long/Short Swap x Point Size. On the other hand, the formula for CFDs on stocks and indices is (Long/Short Swap)/360/100 x Closing Price x Lots.

To make informed decisions about trading strategies and potential costs, traders must regularly check the rollover fees and swaps for each product they frequently trade. By staying informed, traders can better navigate the financial landscape and optimize their trading outcomes.

 

The following are some of the typical overnight fees that Ivory Coast traders can expect:

 

🔍Instrument📌Long Swap🚩Short Swap
🥇EUR/USD-7.911 pips3.962 pips
🥈GBP/USD-4.414 pips0.486 pips
🥉XAG/USD-4.851 pips2.228 pips
🎖️XAU/USD-32.291 pips24.886 pips

 

Deposit and Withdrawal Fees

 

Deposits are free with FXPesa, but withdrawals are charged on the following payment methods:

 

  • ✅ Neteller – 1% Fee (maximum 30 USD)
  • ✅ Skrill – 1% Fee (maximum 30 USD)

 

Inactivity Fees

 

FXPesa charges an inactivity fee on dormant accounts. However, this will only apply once an account has been dormant for 180 consecutive days or 6 months. Therefore, we urge Ivory Coast traders to close their trading accounts if they no longer use them to avoid these fees.

 

Currency Conversion Fees

 

When traders deposit in currencies other than USD or KES (the account base currencies), they could face currency conversion fees.

 

Pros and Cons FXPesa Trading and Non-Trading Fees

 

✅ Pros❎Cons
FXPesa does not charge any hidden feesInactivity fees apply after 180 days
Traders can view all trading and non-trading fees on FXPesa's websiteFXPesa applies a 1% fee on Neteller and Skrill withdrawals

 

 

FXPesa Fees, Spreads, and Commissions

 

FXPesa Deposits and Withdrawals

 

FXPesa offers Ivory Coast traders the following deposit and withdrawal methods:

 

  • ✅ M-PESA
  • ✅ EAZZYPAY
  • ✅ Airtel Money
  • ✅ Airtel UG
  • ✅ Airtel TZ
  • ✅ MTN
  • ✅ Vodacom
  • ✅ HaloPesa
  • ✅ TigoPesa
  • ✅ Neteller
  • ✅ Skrill
  • ✅ Credit/Debit Cards
  • ✅ Local and International Bank Transfers

 

Broker Comparison: Deposit and Withdrawals

 

🔍Broker🥇FXPesa🥈easyMarkets🥉AvaTrade
⬇️Minimum Withdrawal TimeInstantInstant24 to 48 Hours
⬆️Maximum Estimated Withdrawal TimeUp to 15 working daysUp to 5 DaysUp to 10 days
🎉Instant Deposits and Instant Withdrawals?✅ Yes✅ YesNone

 

FXPesa Deposit and Withdrawal Details – Payment Methods, currencies, processing time, etc

 

💳 Payment Method💵 Deposit Currencies⌛ Deposit Processing🛎️ Withdrawal Processing
📌M-PESAKESInstantInstant
🚩EAZZYPAYKESInstantInstant
💡Airtel MoneyKESInstantInstant
🔖Airtel UGUGXInstantInstant
🚨Airtel TZTZSInstant24 hours
📱MTNUGXInstantInstant
▶️VodacomTZSInstant24 hours
ℹ️HaloPesaTZSInstant24 hours
↘️TigoPesaTZSInstant24 hours
🏷️NetellerUSDInstant1 – 2 Working Days
📍SkrillUSD, KESInstant1 – 2 Working Days
💳 Credit/Debit CardsUSD, KES, TZS, UGXInstantUp to 15 Working Days
🏦 Local and International Bank TransfersUSD, KES, TZS, UGX1 – 5 Working Days1 – 5 Working Days

 

How to Deposit Funds with FXPesa

 

To start the deposit process with FXPesa, traders from Ivory Coast can head to the client portal at https://portal.fxpesa.com.

Once there, navigate to the “Deposit” section. FXPesa supports a variety of deposit methods, including Mobile Money, Bank Transfers, Skrill, and Neteller. It’s important to select the method that suits your needs best.

 

Depositing via Mobile Money

 

  • ✅ After selecting the “Deposit” tab, you will find the “Deposit Options (Including M-PESA)” section.
  • ✅ Here, you will choose the account you want to deposit to, the amount you plan to deposit, and the payment provider.
  • ✅ You must input your portal password and confirm that you’re not depositing from a third-party account.
  • ✅ Follow the instructions on the pop-up page to finalize your deposit.

 

Depositing via Bank Transfer

 

  • ✅ Choose the “Bank Transfer” tab in the “Deposit” section.
  • ✅ You will be given the bank account details you need to move funds from your account.

 

Depositing via Card

 

  • ✅ Under the “Deposit” tab, select the “Deposits Options (Including M-PESA Express)” section.
  • ✅ Here, choose your account, specify the deposit amount and currency, and confirm that your deposit doesn’t involve a third party.
  • ✅ Next, provide your card details on the pop-up page to proceed.

 

Depositing via Skrill

 

  • ✅ Under the “Deposits” section, you will find the “Deposits Options (Including M-PESA Express)” tab.
  • ✅ Choose your account, specify your deposit amount and currency, and confirm that your deposit isn’t from a third party.
  • ✅ Provide the necessary details, then continue to the Skrill page, where you will log in and finalise your deposit.

 

Depositing via Neteller

 

  • ✅ Under the “Deposits” section, look for the “Deposits Options (Including M-PESA Express)” tab.
  • ✅ Once you choose your account, input your deposit amount and currency, and confirm that the deposit is not from a third party, you can provide the necessary information and proceed to the Neteller page to complete your deposit.

 

Important Deposit Considerations for Ivory Coast Traders

 

Traders from Ivory Coast should take note of the following when making a deposit:

 

  • Deposit method: Pick the payment method that suits you best.
  • Deposit currency vs account currency: If your deposit currency differs from your account currency, the funds will be converted to the currency of your trading account.
  • Deposit fees: FXPesa doesn’t impose any fees on its deposit methods.
  • Deposit amount: After picking your deposit method and the account to deposit to, decide on the amount you want to deposit.

 

FXPesa Fund Withdrawal Process

 

To withdraw funds from an account with FXPesa, Ivory Coast traders can follow these steps per the withdrawal methods available.

 

Withdrawing via Mobile Money

 

  • ✅ Under the “Withdrawals” tab, find the “M-PESA” option.
  • ✅ You will be redirected to a new page where you can specify the account to withdraw from, the amount, the payment provider, and your portal password.

 

Withdrawing via Bank Transfer

 

  • ✅ Under “Withdrawals“, select the “Bank/Local Bank Transfer” option.
  • ✅ You will be redirected to a new page where you can specify the account to withdraw from and the amount.
  • ✅ Provide your bank account details as required.
  • ✅ If this is your first withdrawal request via bank transfer, FXPesa will ask you to upload a recent bank statement to verify your details.

 

Withdrawing via Skrill

 

  • ✅ Under the “Withdrawals” tab, choose the “Skrill” option.
  • ✅ You must specify your account, the amount to withdraw, your Skrill email address, and your FXPesa portal password.
  • ✅ Please note that you can only withdraw via Skrill if you previously deposited via the same method.

 

Withdrawing via Neteller

 

  • ✅ Under the “Withdrawals” tab, select “Neteller“.
  • ✅ Here, you will choose the account to withdraw from, specify the amount, enter your Neteller email address, and input your FXPesa portal password.
  • ✅ Note that Neteller makes withdrawals only possible if your previous deposit was made through this service.

 

Pros and Cons FXPesa Deposits and Withdrawals

 

✅ Pros❎ Cons
There are several flexible deposit and withdrawal methods that traders can useFXPesa charges withdrawal fees on Neteller and Skrill
Instant deposits and withdrawals are availableWithdrawals using credit/debit cards take up to two weeks to process

 

How long do FXPesa Deposits take?

Depending on the method and process, deposits to FXPesa can either be instant or take up to 5 working days

 

How long do FXPesa Withdrawals take?

The duration for FXPesa withdrawals can vary, ranging from instant to up to 15 working days, based on the chosen method and the timing of your withdrawal request.

 

 

FXPesa Deposits and Withdrawals

 

FXPesa Education and Research

 

FXPesa Education

 

FXPesa offers the following Educational Materials to Ivory Coast traders:

 

  • ✅ Webinars
  • ✅ Seminars
  • ✅ Networking Events
  • ✅ Trading Tutorials
  • ✅ eResources
  • ✅ Market Insights

 

Research and Trading Tool Comparison

 

🔍Broker🥇FXPesa🥈easyMarkets🥉AvaTrade
📆 Economic CalendarNone✅ Yes✅ Yes
🖥️ VPSNoneNoneNone
📌AutoChartistNoneNoneNone
📈Trading View✅ Yes✅ YesNone
📉Trading CentralNone✅ Yes✅ Yes
📊Market AnalysisNone✅ Yes✅ Yes
📰News Feed✅ Yes✅ Yes✅ Yes
💻Blog✅ Yes✅ Yes✅ Yes

 

FXPesa does not currently offer trading tools to traders.

 

Pros and Cons FXPesa Education and Research

 

✅ Pros❎ Cons
Beginners can access a dedicated education section where they will find guides, events, resources, and moreThere are no trading tools or research available on the FXPesa website

 

 

FXPesa Education and Research

 

FXPesa Customer Support

 

📌Customer Support🔍 FXPesa Customer Support
⌚Operating Hours24/6
👥Support LanguagesEnglish
🗣️ Live Chat✅ Yes
💻Email Address[email protected]
☎️Telephonic SupportTelephone (Kenya) – 0800 211 185
WhatsApp - +254 730 676 002
💯The overall quality of FXPesa Support4/5

 

Pros and Cons FXPesa Customer Support

 

✅ Pros❎ Cons
Traders can contact FXPesa 24/6There is no local office in Ivory Coast

 

 

FXPesa Customer Support

 

 

FXPesa Corporate Social Responsibility

 

FXPesa is a part of several CSR initiatives and projects, including non-profit organizations like Kenya’s GVRC.

 

FXPesa Corporate Social Responsibility

 

FXPesa Cashback Rebates Features and Conditions

 

FXPesa does not provide direct cashback rebates to individual traders upon registering an account. However, Ivory Coast traders can earn rebates by becoming partners or affiliates and generating trading volumes from their clients.

To cater to partners’ specific needs, FXPesa offers customized tiered payment structures for rebates. Traders interested in the rebate program can consult dedicated account managers who can provide further information and details.

 

 

FXPesa Cashback Rebates Features and Conditions

 

FXPesa Web Traffic Report

 

🌐Global Rank220,538
🌎Country Rank461
📝Category Rank4
🔢Total Visits149.1K
📌Bounce Rate44.42%
📖Pages per Visit9.06
⌛Average Duration of Visit00:04:12
📆Total Visits in the last three monthsMarch – 156.6K
April – 142.6K
May – 149.1K

 

 

FXPesa Web Traffic Report

 

FXPesa Geographic Reach and Limitations

 

Most of FXPesa’s market share is concentrated in these areas:

 

  • ✅ Kenya – 77.04%
  • ✅ Finland – 8.41%
  • ✅ Australia – 4.02%
  • ✅ Tanzania – 2.23%
  • ✅ United States – 1.29%

 

FXPesa’s Current Expansion Focus

 

FXPesa is expanding across Africa and certain sections of the United Kingdom.

 

Countries not accepted by FXPesa

 

FXPesa does not accept clients from these countries:

 

  • ✅ Afghanistan
  • ✅ Bahamas
  • ✅ Burundi
  • ✅ Crimea
  • ✅ Cuba
  • ✅ Democratic Republic of Congo
  • ✅ Eritrea
  • ✅ Haiti
  • ✅ Iran
  • ✅ Israel
  • ✅ Libya
  • ✅ Myanmar
  • ✅ Nicaragua
  • ✅ North Korea
  • ✅ Panama
  • ✅ Somalia
  • ✅ Sudan
  • ✅ Syria
  • ✅ Turkmenistan
  • ✅ United States Minor Outlying Islands
  • ✅ Virgin Islands (United States)
  • ✅ United States
  • ✅ Western Sahara
  • ✅ Yemen
  • ✅ Zimbabwe

 

Popularity among Ivory Coast traders who choose FXPesa

 

FXPesa is one of the best brokers in Africa, placing it among the Top 50 brokers for those in the Ivory Coast.

 

 

FXPesa Geographic Reach and Limitations

 

FXPesa vs easyMarkets vs AvaTrade – A Comparison

 

🔍 Broker🥇 FXPesa🥈 easyMarkets🥉 AvaTrade
📈 RegulationFCA, CMABVI FSC, CySEC, ASIC, FSACentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC
📊 Trading PlatformMetaTrader 4
MetaTrader 5
Equiti Trader App
easyMarkets Platform
MetaTrader 4
MetaTrader 5
TradingView
AvaTradeGO
AvaOptions
AvaSocial
MetaTrader 4
MetaTrader 5
DupliTrade\ZuluTrade
💵 Withdrawal Fee✅ YesNoneNone
📌 Demo Account✅ Yes✅ Yes✅ Yes
💷 Min Deposit3,050 XAF15,100 XAF61,000 XAF
📉 Leverage1:400Up to 1:4001:30 (Retail)
1:400 (Pro)
📝 Spread0.0 pipsFixed, 0.03 USDFixed, from 0.9 pips
💶 Commissions$7NoneNone
🛑 Margin Call/Stop-Out100%/30%70%/30%25% - 50% (M)
10% (S/O)
👨‍🎓 Order ExecutionMarketMarketInstant
❌ No-Deposit BonusNoneNoneNone
💰 Cent AccountsNoneNoneNone
🗂️ Account TypesExecutive Account
Premiere Account
Web/App VIP
Web/App Premium
Web/App Standard
MT4 VIP
MT4 Premium
MT4 Standard
MT5
Standard Live Account
Professional Account Option
🏦 Banking Commission of WAEMU RegulationNoneNoneNone
⚠️ XAF DepositsNone✅ YesNone
ℹ️ XAF Account Offered?NoneNoneNone
🕰️ Customer Service Hours24/624/524/5
➡️ Retail Investor Accounts231
🤝 Islamic Account✅ Yes✅ Yes✅ Yes
⬇️ Minimum Trade Size0.01 lots0.01 lots0.01 pips
⬆️ Maximum Trade Size150 lots50 lotsUnlimited
⬇️ Minimum Withdrawal TimeInstantInstant24 to 48 Hours
⬆️ Maximum Estimated Withdrawal TimeUp to 15 working daysUp to 5 DaysUp to 10 days
💸 Instant Deposits and Instant Withdrawals?✅ Yes✅ YesNone

 

Broker Comparison for a Range of Markets

 

🔍 Broker🥇FXPesa🥈easyMarkets🥉AvaTrade
ℹ️Forex✅ Yes✅ Yes✅ Yes
🏆Precious Metals✅ Yes✅ Yes✅ Yes
🛎️ETFs✅ YesNone✅ Yes
➡️CFDs✅ Yes✅ Yes✅ Yes
📌Indices✅ Yes✅ Yes✅ Yes
📊Stocks✅ Yes✅ Yes✅ Yes
💵CryptocurrencyNone✅ Yes✅ Yes
⌛OptionsNoneNone✅ Yes
⚠️Energies✅ Yes✅ Yes✅ Yes
🖋️BondsNoneNone✅ Yes

 

 

easyMarkets Review

 

 

FXPesa Alternatives

 

  • 🥇 EGM Securities is part of the global Equiti Group with various offices worldwide. EGM Securities operates an NDD model and offers various markets to traders. Furthermore, traders can expect competitively low spreads and commissions on trades.

 

  • 🥈 AvaTrade offers many tradable assets, including forex, stocks, commodities, cryptocurrencies, and indices. Traders can access multiple user-friendly platforms such as MetaTrader 4 and AvaTradeGO.

 

  • 🥉 easyMarkets provides fixed spreads for transparent trading costs. Risk management tools like guaranteed stop-loss orders help protect against losses. Negative balance protection ensures traders cannot lose more than their initial investment.

 

 

AvaTrade Review

 

FXPesa Awards and Recognition

 

FXPesa has been recognized with several prestigious awards, showcasing its excellence in the industry:

 

  • ✅ In 2022, FXPesa was honored as the Best Trading Education Provider, a testament to their commitment to equipping traders with valuable knowledge and resources.
  • ✅ FXPesa stood out as the Most Innovative Brokerage Company in 2021, highlighting their dedication to implementing cutting-edge solutions and pushing the boundaries of online trading.
  • ✅ In the same year, FXPesa was awarded the title of Best Forex Broker in Kenya, demonstrating their superior services and expertise in the forex market within the country.
  • ✅ FXPesa’s remarkable performance also earned them the Best Broker in Africa distinction in 2021, recognising their outstanding contributions to the trading community across the continent.
  • ✅ The accolade for Best Liquidity Provider (Prime of Prime) in 2021 further solidifies FXPesa’s position as a trusted provider of reliable liquidity solutions to traders, ensuring smooth and efficient trading experiences.
  • ✅ In 2019, FXPesa was recognized as the Best Non-Dealing Online Forex Broker, underscoring their commitment to transparency and providing a fair and trustworthy trading environment.

 

and many, MANY more!

 

 

FXPesa Awards and Recognition

 

Additional Features of FXPesa

 

Financial Reports

 

While FXPesa does not disclose its specific financial reports, the remarkable achievements of Equiti Capital UK Limited, the parent company of FXPesa, are worth noting.

In 2022, Equiti Capital reported a substantial increase in profits, with a remarkable 113% surge resulting in a net profit of $3.7 million. This impressive financial performance showcases the effectiveness and success of Equiti Capital’s strategies and operations.

Equiti Capital’s FX Agency desk experienced exceptional growth, setting new records in trading volumes. With an impressive 84% year-on-year increase, this accomplishment further solidifies the company’s position as a leader in the industry.

The outstanding growth in trading volumes is a testament to the effectiveness of Equiti Capital’s operational approaches and highlights its ability to deliver excellent results

 

FXPesa Future Vision

 

Paul Webb, a director at Equiti Capital UK, expressed great enthusiasm regarding the financial results and reiterated the company’s commitment to ambitious business plans and strategic investments.

Webb confidently stated that Equiti Capital anticipates substantial revenue growth in the upcoming financial year, driven by its unwavering dedication to the business enhancement and seizing new opportunities.

The outstanding growth achieved by Equiti Capital’s FX Agency desk is a testament to the company’s strong market position and ability to adapt to evolving industry trends.

This achievement demonstrates Equiti Capital’s agility and capacity to navigate the dynamic market landscape successfully.

 

 

FXPesa Additional Features

 

 

Recommendations according to our in-depth review of FXPesa

 

From our in-depth review, we have highlighted a few recommendations for improvement:

 

  • ✅ Publish financial reports to provide transparency and build trust with traders.
  • ✅ Consider offering cashback rebates directly to individual traders to incentivise and reward their loyalty.
  • ✅ Strengthen communication channels and improve the responsiveness of customer support for prompt assistance and issue resolution.
  • ✅ Continuously expand and update educational resources to cater to the evolving needs of traders.
  • ✅ Regularly assess and enhance the trading platforms’ features and functionality to ensure a seamless user experience.

 

 

Recommendations according to our in-depth review of FXPesa

 

FXPesa Customer Reviews

 

 

🥇 User Friendly!

“As a beginner trader, FXPesa has been fantastic in providing a user-friendly interface and educational materials. Their demo account helped me practice trading strategies without risking real money. The platform’s performance is reliable, ensuring the smooth execution of trades. I’m grateful for FXPesa’s support on my trading journey.” – Benjamin Kouassi (September 2022)

 

 

🥈 Highly Recommended!

“FXPesa is an excellent platform for traders in Ivory Coast. The range of tradable instruments is impressive, and their competitive spreads add value to my trades. The platform’s performance is reliable, ensuring fast execution and minimal slippage. Overall, I’ve had a positive experience and would recommend FXPesa to fellow traders.” – Aminata Gueye (September 2022)

 

 

🥉 Outstanding Customer Service!

“I have been trading with FXPesa for some time now, and I must say, their customer service is outstanding. They are always available to answer my questions and provide guidance. The platform’s charts and tools are comprehensive, aiding analysis and decision-making. FXPesa is a top choice for Ivory Coast traders.” – Jean-Luc Diarra (June 2022)

 

 

FXPesa Customer Reviews

 

Pros and Cons of Trading with FXPesa

 

✅ Pros❎ Cons
FXPesa is licensed by the Capital Markets Authority (CMA) and Financial Conduct Authority (FCA), making it trustworthy.Traders can only register an account in USD or KES.
Traders can only register an account in USD or KES.FXPesa does not provide trading tools.
Beginner traders benefit from extensive educational materials provided by FXPesa, designed to assist in learning about forex and CFD trading. There are limited non-forex instruments
The dedicated customer service team is available 24/5 to promptly address any queries or issues traders may have.The trading costs are much higher than other forex brokers in Africa.

 

In Conclusion

 

FXPesa offers a comprehensive range of trading services and platforms, making it suitable for both novice and experienced traders in Ivory Coast.

The availability of multiple trading platforms, including MetaTrader 4 and MetaTrader 5, allows traders to choose the interface that suits their preferences. The demo account feature is a valuable tool for beginners to practice trading strategies without risking real funds.

The educational resources provided by FXPesa are also commendable, offering traders opportunities to enhance their trading knowledge. The transparency in fees further contributes to a positive trading experience.

However, there are areas for improvement. The lack of published financial reports from FXPesa limits transparency regarding the company’s financial health.

Additionally, the absence of cashback rebates directly to individual traders may be a drawback for some. Improving communication channels and customer support responsiveness could enhance the overall experience for traders.

 

Addendum/Disclosure: No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.

 

Our Review Methodology: For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.

Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.

Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.

 

Now it is your turn to participate:

  • ✅ Do you have any prior experience with FXPesa?
  • ✅ What was the determining factor in your decision to engage with FXPesa?
  • ✅ Was it because of the minimum deposit, regulation, retail trading accounts, or other factors?
  • ✅ Have you experienced issues with FXPesa, such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?

 

Regardless, please share your thoughts in the comments below.

 

Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all investors. Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk.

In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.

 

FXPesa Risk Warning and Disclaimer for Trader: Trading in financial markets entails inherent risks, and Ivory Coast traders interested in FXPesa should be aware of these considerations.

Please keep in mind that the value of investments can fluctuate and that past performance does not guarantee future results. Trading leveraged products is fraught with danger and may not be suitable for all investors.

Before engaging in trading activities, it is critical to understand the potential loss exposure. Traders in the Ivory Coast should carefully consider their financial situation and risk tolerance and seek professional advice if necessary.

FXPesa provides information and tools, but the trader ultimately bears responsibility for their investment decisions and acknowledges the risks.

 

Frequently Asked Questions

 

Is FXPesa regulated?

FXPesa is a safe broker regulated by the CMA in Kenya and FCA in the United Kingdom (Under Equiti Capital UK Limited).

 

What are the deposit methods available with FXPesa?

FXPesa accepts deposits through various methods such as bank transfers, mobile money, Skrill, and Neteller.

 

Is FXPesa Safe or a Scam?

FXPesa is a safe, well-regulated, and trusted broker based in Kenya and the UK.

 

Can I trade multiple financial instruments with FXPesa?

Yes, FXPesa provides a range of tradable assets, including forex, commodities, indices, and cryptocurrencies.

 

What trading platforms does FXPesa offer?

For trading convenience, FXPesa provides access to platforms like MetaTrader 4 and MetaTrader 5.

 

How long does it take to withdraw from FXPesa?

Some withdrawals are instant, while others can take up to two weeks.

 

Can I open a demo account with FXPesa?

Yes, FXPesa offers a demo account for traders to practice and improve their trading skills without risking real money.

 

Does FXPesa have VIX 75?

FXPesa offers traders access to the Volatility 75 index. Furthermore, traders can expect competitively low spreads from 0.1 pips on VIX 75.

 

Are there any fees for depositing or withdrawing funds with FXPesa?

FXPesa does not charge fees for deposits or withdrawals, but additional charges from payment service providers may apply.

 

Why should I work through the SA Shares Cashback?

You can expect some of the highest commissions if you work through SA Shares to earn up to 30% Cashback Rebates from Forex Brokers such as FXPesa.

This is because SA Shares aims to negotiate the most competitive commission rates with brokers such as FXPesa to ensure you get the most back from your trading activities.

 

Does FXPesa have Nasdaq 100?

Yes, Nasdaq 100 is offered as a CFD on Indices under “US Tech 100.” Ivory Coast traders can also expect competitive spreads from 1 pip on this instrument.

 

 

 

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