Get the latest updates on payment methods, fees and facilities below.
At EGM Securities, making deposits and withdrawals is extremely simple and straightforward and takes up very little of your time. It is our constant endeavour to offer you a wider array of deposit and withdrawal options and to make the process even easier. If you have any further queries, please contact our Client Support Team support@egmsecurities.com.
Deposits Summary
| Payment Methods | Wire/Bank Transfer | Debit/Credit Cards | Mobile Payments | E-Wallets |
|---|---|---|---|---|
| Supported Currencies | USD, KES, UGX, TZS | USD, KES, TZS | KES, UGX, TZS, USD | USD, KES |
| Deposit Arrival Time* | 1-3 working days | Instant | Instant | Instant |
| Deposit fees | Free | Free | Free | Free |
| Payment methods | I&M Bank Limited | Mastercard, Visa | Mpesa - Lipa na Bonga - EazzyPay - Airtel money - eLipa - Mastercard, Visa - MTNMoney - (UGX) - Vodacom (TZS) – Tigo (TZS) – Airtel (TZS) | Neteller & Skrill |
*Deposit Arrival Time may differ depending on the remitting party.
**Please be aware that although no fees are charged by EGM Securities, there may be charges incurred by your own personal bank and debit/credit card providers, mobile money service providers.
EGM does not accept any third party payments, please confirm the funds from the mobile account holder matches the EGM account holder name or else.
EGM will return the funds which will result in delays.
EGM Securities does not accept any direct cash deposits to our EGM Client Segregated account. The only acceptable payment methods are Mobile Money transfers, Bank Transfers, EFTs, RTGS and Bank Transfers.
Withdrawals Summary
| Withdrawal Methods | Wire/Bank Transfer | Mobile Payments | E-Wallets |
|---|---|---|---|
| Supported Currencies | USD, KES | KES, UGX, TZS | USD, KES |
| Withdrawal Arrival Time* | 3-5 working days | 3 hours | 3 hours |
| Local withdrawal fees | Free | Free | 1% (capped at $30, currency equivalent) |
| International Withdrawal fees | 15 USD 1650 KES | Free | 1% (capped at $30, currency equivalent) |
| Payment Providers | Bank of Africa | Mpesa - Lipa na Bonga - Airtel money - eLipa - MTNMoney (UGX) | Neteller & Skrill |
Disclaimer: Withdrawals can only be made to the same source of deposit, in cases where funding has been made using both card and bank transfers, card sources will be given priority when withdrawals are processed. Please contact our Support team if the card source is no longer available.
Please note that the withdrawal fee is subject to daily currency exchange rates which may vary from time to time.
*Withdrawal Arrival Time is indicative and may take longer. Withdrawal requests can take up to 3 hours for the funds to reach your mobile money account. Withdrawal requests submitted up until 3PM EST will be processed that day. Any request submitted after this time will result in the funds valuing on your mobile money account the next working day.
To deposit or withdraw funds from your account or to process internal transfers please login to MyEGM Securities and navigate to the ‘Transfers’ tab.
For more information, please refer to our FAQs page or contact our Support team
Conditions
Deposits and withdrawals will be made into and from your landing accounts. In order for you to trade with your funds, you will need to transfer internally from your landing account(s) into your trading account(s). For more information, please refer to our FAQs page.
The funds received will be allocated to the landing account corresponding to the currency that we have received the funds in. E.g. if we have received funds into our USD bank account, then these funds will be allocated into your USD landing account.
Kindly note that third party deposits and withdrawals are strictly prohibited. If such payments were to be made, then the available funds will be returned to the original payment method (where applicable).
Please make sure to mention your Account ID in your Bank/Wire transfer reference to enable us to allocate the funds into your account.
If you have made a transaction outside the core business hours of our Back Office team – 9:00-17:00 Kenya time, Monday to Friday – then your payment will be processed at the earliest opportunity the next working day.
Please be aware that at busy periods or for several reasons including but not limited to the remitting party, intermediary banks or internal procedures, the process of deposit or withdrawal may take longer.
Kindly note that additional charges by your bank or intermediary banks may apply.
We do not accept cheques, pre-paid cards or cash deposits. Any such payments will be returned.
EGM Securities may require additional documentation/information from you to prove your bank account or Neteller account are held in your name as third party payments are not permitted.
All client funds deposited with us are segregated in accounts held in Tier 1 banks and are held separately from EGM Securities' own funds. For more information, please refer to our Regulations page.
In the event where the client has sent funds into our accounts but does not hold a trading account with EGM Securities yet, and thus is not yet verified and approved, payment will be refunded using the same method that was originally used to send the funds.
In the event of a chargeback (a demand by a credit-card provider for EGM Securities to make good the loss on a fraudulent or disputed transaction), the client is responsible to cover any reversed payments and chargeback fees incurred. This will be covered by the available funds on the clients’ trading account. If there are insufficient funds, the client will be liable to cover the outstanding amount via a bank transfer.
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