IT IS NOW POSSIBLE TO TRADE IN ONLINE FOREX AND WITHDRAW YOUR PROFITS BACK TO MPESA IN MINUTES ?
Here is how it works out
1. You open an online forex account.
2. You fund your forex account.
3. You execute trades in your online forex account.
4. You withdraw your profits to your skrill (Moneybookers) account. Your initial capital is sent back through the same means you used to deposit as per financial regulation in online forex trading. E.g If you deposit $500 from your visa/mastercard, trade the amount and grow your account to $2,000 and you wish to withdraw $1,000, $500 will be sent back to the card you used to deposit and then you will have the option of sending $500 to skrill where you will withdraw to your Mpesa account instantly. If you then proceed to trade the balance of $1,000 in your account and grow it again to $2,000, you can now withdraw any amount you wish every month to skrill without any restriction then to Mpesa since as per regulation you will have withdrawn all your initial deposit back to the same means you used to deposit. This is a financial rule in online forex trading meant to prevent money laundering so that clients only deposit their own money and for the purpose of trading. Once all the initial capital has been sent back through the same means used to deposit, then there cannot be any other restriction on which means you wish to withdraw your money because any funds in the account will be profits only.
5. You then withdraw your money from skrill to your Mpesa number in minutes.
What is the advantages of this program ?
- Deposits and withdrawals can be made at any time and above all you can get your cash back in minutes through Mpesa; Its your money, why should you not access it any time you need it ?
- All the investors’ funds are kept only in their accounts and only the investors can access their accounts. No one can withdraw money from your account and this adds up to the safety of your investment.
How do I start ?
2. You fund your online forex account. The easiest means of funding your online forex account is through the modern visa/mastercard such as Safaricom Mpesa Prepay Visa Safari card which you can get from any safaricom outlets or I & M bank branches or Nakumatt mastercard which you can always load money into it through Mpesa paybill. Just walk into the nearest safaricom outlet, I & M bank branches or Nakumatt with your national Id and the amount you want to deposit.
Let us consider one of the most convinient cards for depositing money through Mpesa;
Safaricom Mpesa Prepay Visa Safari card;
The new M-PESA PrePay VISA card can be used to withdraw cash in any currency from over 1.6 million Visa ATMs worldwide as well as to make purchases at over 28 million VISA branded shops and other merchant outlets worldwide.
The card needs to be pre-loaded with Kenya Shillings funds and can be subsequently reloaded for continued usage through M-PESA and residual balances can also be refunded at any I&M Bank branch.
The benefits of the M-PESA PrePay Safari Card include;
Everyone can get one; Anyone who has a Safaricom telephone line with M-PESA facility and is 18 years and above can apply for this card.
Easy load & reload: you can load and reload your card simply through your M-PESA.
Better than a credit card; you can’t spend money you don’t have.
Saves you money; There are never any late payment fees, ledger fees or over the limit fees.
International ATM usage ; This is a VISA and KENSWITCH branded card that is accepted both locally and internationally on all VISA/KENSWITCH branded ATMs.
Online Internet usage; This card can be used to conduct online internet transactions such us purchases, payments etc.
Manage your money anywhere; Monitor your card expenses, check your balance etc over the Internet. Just go to www.imbank.com- online services and log into prepaid cards.
SMS Alerts; receive an SMS alert anytime you use the card.
Convenience; Safer, cheaper and more convenient than carrying cash. You can de-activate the card after making your purchase online.
The M-PESA Prepay Safari Card Kit can be purchased from any Safaricom outlets , I&M bank branches countrywide.
All you need to get this card is a copy and original National Identity Card/Passport and a filled up application form.
The M-PESA Prepay Safari Card Kit contains a ready to use Visa Card with a sealed Pin cover containing the Pin number for using the card at any Visa ATM machine as well as an I-Pin number for accessing the card account information through the internet website www.imbank.com and this User Guide. The Pin number will be required for making withdrawals from ATMs. You must memorize your Pin and I-Pin and never write it down or share it with anyone else.
On purchase of the M-PESA Prepay Safari Card Kit, you will need activate it by loading the card with the desired amount from your M-PESA to Paybill 541 541.
As you use your Card , the balance available from the loaded amount will accordingly reduce. You can reload to replenish the funds balance in your M-PESA Prepay Safari Card in the following way:
Go to your M-PESA menu
a. Select ‘Pay Bill’ from your M-PESA menu
b. Enter the ‘Business Number’ 541 541 (indicated on the back of the card)
c. Under ‘Account Number’ enter the 16 digit number of the M-PESA VISA Pre Pay Safari card
d. Enter the amount you wish to pay (between KShs. 100 – 35,000). Card can hold upto ksh 500, 000.
e. Enter your M-PESA PIN.
f. Confirm that all the details are correct and press OK
g. Your will receive a confirmation SMS from M-PESA immediately. Your M-PESA VISA Pre Pay Safari card will be updated real time and you will be able to use it soon after to deposit to your online forex account.
The modern visa/mastercard ATM is your second option if you want to quickly and efficiently deposit money into your online forex account. N/B Because this feature is relatively not used by majority of ATM card holders, most banks have set the maximum transaction per day to very low e.g $10. The best way to approach the deposit is to first of all familialize yourself with the procedure of depositing money online from a visa/Master card ATM by depositing very small amount e.g $10. Once you are fully conversant with the entire deposit process, you will then call your banks card center (often the phone numbers at the back of the card) and request them to increase the maximum deposit to the amount you wish to deposit e.g $500. Most banks allow online transactions upto a maximum of $10,000 and deposits higher than $10,000 have to be processed through the bank.
To deposit to your online forex account
a). Login in your forex account.
b) Click on deposit
c) Select option you wish to fund your account e.g Visa e.t.c. Enter amount, select card type e.g visa, your name; click continue and on the next page enter card number, cardholders name (your name), card expiry date and CVC/CVV/CID. To better understand how to make a payment/deposit online with your ATM, kindly watch the video below. N/B You should not exceed the maximum for the card per day for the transaction to be accepted. See above notes on how to increase the limits for the card.
3. Tading then follows in your online forex account.
4. You can then withdraw profits from your account either daily, weekly or monthly. As soon as the withdrawal is effected to your skrill account you then withdraw to Mpesa and it takes minutes just the same way you send someone money through mpesa as you will actually be sending money to your safaricom number from your skrill account.
Most people spend their money on liabilities that never reward them with cash but you can be an exception. Take the most rewarding option of investing your money where you can trade as much as 100 times more than you have deposited since the forex broker will give you more money through leverage to trade with. Profitable trading skills remains to be the most important factor for success in this market.