The article below was written back in 2016 when we as Kenyan Forex Traders had fewer option for Depositing cash into our Forex accounts and more importantly, withdrawing our profits. Today you can simply deposit and withdraw from your forex account using Mpesa. Open an account that accepts Mpesa Deposits/Withdrawals here >> http://bit.ly/withMpesa
Funny things have been known to happen when you link your Main Bank account to your Forex Brokers account or fund your Forex Brokers account with your REAL credit card that is attached to your Personal Bank account. In fact, funny things have been known to happen anytime you make an online purchase using your real credit card that is linked to your real bank account.
Stay safe! Over time (and many mistakes later) I have developed a long wounded but probably secure means of both funding my Forex broker accounts and withdrawing my profits from the same. To follow my method you need to;
1. Open a Neteller account.
2. Take 500Kshs and go purchase a NationHela Credit card.
3. Fund your NationHela credit card via Mpesa with the equivalent of $13.
4. Enable Web Trading for your NationHela card so that you can purchase and pay for stuff Online.
5. Use your NationHela card to verify your Neteller account and request a Neteller Visa card (It will cost you $13 and it will take about a month to arrive in Kenya to your P.O. Box).
6. Using Mpesa, fund your NationHela account then use it to fund your Neteller account then use your Neteller account to fund your Forex Brokers account with eg $100.
7. If you make any profits, withdraw them to your Neteller account and they will be IMMEDIATELY available in the card you purchased for $13 and you can immediately withdraw from ANY ATM in Kenya (I prefer Barclays ATMs or I&M for the best Dollar-to-Kshs rates).
You do not have to wait for 3-4 days like Visa when withdrawing to Neteller – It is immediate with most brokers.
8. If you suspect fraud on your credit card, just take a scissors and chop up your NationHela credit card and go purchase another one. You will only lose the money you had sent to the card via Mpesa – Not your entire bank balance.
If you have a better way to fund your Brokers account or if you have tried a different method and you would like us to try it, Just pop your suggestion in the comment box below!
Don’t have a Forex Brokers account yet? Click HERE to open one immediately. It is ABSOLUTELY FREE and you will get a DEMO Account to Practice your Trading. Also take a look at the Alpha and Omega Trading System HERE. It is the Best Forex Trading System for both Beginners and Pro Traders alike and you can Download it Immediately for FREE.
Thank you, and I wish you Happy and Prosperous Trading!