Forex Traders In Kenya. 15, likes · 87 talking about this. Forex Traders. A forum for all forex traders. learn and share forex trading skills 13/04/ · Here is our list of the best forex brokers in Kenya. IG - Best overall broker , most trusted ; Saxo Bank - Best for research, trusted global brand; Interactive Brokers - Great for professionals and institutions; XTB - Best customer service, great trading platform; blogger.com - Great all-round offering; eToro - Best copy trading platform; AvaTrade - Multiple trading platform optionsEstimated Reading Time: 2 mins 5 rows · 09/04/ · Best Forex Trading platforms in Kenya. We selected the best platforms for Kenyan traders after Estimated Reading Time: 8 mins
19 Best Forex Brokers Kenya for - blogger.com
Online Forex trading in Kenya is regulated by the Capital Markets Authority CMA. We have made FXTM our top-rated broker because in addition to its lengthy track record, it enjoys a very high level of regulation and reputation, and it offers a highly competitive fee structure which tends to keep down the cost of trading.
Recent years have seen them continue to steadily expand their business, and they are well- regulated by the U. The brand is owned by private companies incorporated in the U. Customers of FXTM have access to more than 57 Forex currency pairs and crosses, precious metals, the major energies, equity indices, big cryptocurrencies, and a few individual American stocks. Talking of stocks, FXTM are quite unique in the area of trading stocks, as they enable direct trading through real legal ownership, not just wrapped as CFDs like almost every other similar brokerage offers.
Clients have a straight choice between two trading platforms, with both MetaTrader 4 and MetaTrader 5 on offer. Through their Mauritius regulator, FXTM offer leverage as high as to 1. In the U. and Cyprus, they are limited by law from online forex trading platforms in kenya more than 30 to 1.
AvaTrade was founded in in Dublin, Ireland. They enjoy an extremely high and strong level of regulation, making them a favorite for traders who are extremely nervous about the security of their deposit, which in Ireland can be protected by a strong investor deposit protection provision. AvaTrade is directly regulated in Ireland and by extension, the European Uniononline forex trading platforms in kenya, Australia, Japan, South Africa, and the British Virgin Islands.
In addition to their longevity and safe reputation, clients know that through AvaTrade they have access to a broad range of asset classes through which diversification can be achieved successfully: AvaTrade offers trading in over 55 different Forex currency pairs, 17 commodities, 20 equity indices, 14 cryptocurrencies, plus 66 individual stocks and shares.
Even better, and unusually, 2 bonds and 6 ETFs are also on the menu. The diversity offered here stands out. Whether you are located within the European Union or not, all branches of AvaTrade will offer you negative balance protection, above and beyond what is mandated by the law. This online forex trading platforms in kenya that under no circumstances will any client of AvaTrade ever be held liable by the firm for an amount larger than their deposit.
Squared Financial offers clients a competitive trading environment from its Seychelles subsidiary. It also maintains an account branch operating out of Cyprus, governed by the ESMA. While the commission-free account features high mark-ups commencing from 1. The MT4 and MT5 trading platforms are available to cater to traders looking online forex trading platforms in kenya the most popular platforms on the market.
Completing the trading choices are 54 equity CFDs, 13 index CFDs, and 19 futures contracts. The Squared Academy delivers an educational section for new traders, where many short videos provide a basic overview of seven topics. Several articles also feature trading ideas and Squared Financial also publishes daily market commentary.
IFC Markets is a longstanding broker having been founded in and today hasclients from 80 countries. It operates with licenses under multiple jurisdictions including the British Virgin Islands Financial Services Commission, the Malaysia Labuan Financial Services Authority, and the Cyprus Securities and Exchange Commission. IFC has a huge number of Forex pairs available to tradersand many other markets including precious metals, online forex trading platforms in kenya, equity indexes, and individual stocks.
IFC Markets now has over instruments available to traders. IFC Markets developed the cutting edge NetTradeX platform for its customers for instant execution and advanced market analytics.
They even go so far as to provide a video tutorial on the platform so you can get up and running straight away. If you are more familiar with the highly popular MetaTrader 4 and MetaTrader 5 platforms, IFC Markets also has online forex trading platforms in kenya available for its customers who want to stay with the MetaTrader suite, online forex trading platforms in kenya.
The company is very tech-focused having been awarded a US Patent for their Portfolio Quoting Method. IFC Markets is best for its technological capabilities and it is best for a trader wanting a wide variety of instruments to trade. Pepperstone, founded in and headquartered and regulated in Australia, the U. As an ECN broker, online forex trading platforms in kenya, Pepperstone offer raw spreads and low commissions. In addition to their global headquarters in Australia, Pepperstone also have presences in London, England, where they enjoy full regulation by the Financial Conduct Authority FCAand in Dubai, where they are regulated by the Dubai Financial Services Authority DFSA.
Pepperstone is renowned for its advanced technology tools such as Smart Trader Tools and cTrader Automate. cTrader is one of the more popular trading platforms out there but is not offered by a majority of brokers, so Pepperstone can be a good choice if you want to trade with an ECN brokerage through the cTrader trading platform. The young and tech-savvy population is eager to drive its economy forward, many international companies locate regional headquarters to Kenya, and Forex trading in Kenya is swiftly increasing in popularity, amid low capital requirements.
The payment processor M-Pesa, launched in by UK-based Vodafone and Kenyan Safaricom, is a mobile phone-based money transfer, payments, and micro-financing service, targeting the unbanked, further enables access to the financial system, online forex trading platforms in kenya.
It became the most successful mobile-phone-based financial service in the developing world by Forex trading is growing in popularity across Kenya, especially trading on mobile phones. The trend accelerated since the successful launch of M-Pesawhich connected millions of unbanked in Kenya to the formal financial system. There are not many licensed Forex brokers in Kenya, with EGM Securities, the first non-dealing online Forex broker operating out of Nairobi, and SCFM Limited, the second one.
While financial pyramid schemes and other scams online forex trading platforms in kenya, as with most frontier markets, online forex trading platforms in kenya, the Central Bank of Kenyaand the Capital Markets Authority CMA are equipped to ensure a trustworthy environment.
It positions Kenya as an excellent growth market. Yes, Forex is legal in Kenya. There are no restrictions on Kenyan traders to open accounts with international brokers, which do not require a CMA license to operate in the country. The Forex market in Kenya is primarily regulated by the Capital Markets Authority CMAwhile the Central Bank of Kenya may introduce regulation for the CMA to enforce.
The CMA drafted new rules to tighten regulation, including requiring all international brokers to apply for a license, confirm minimum capital requirements, online forex trading platforms in kenya, and file quarterly and annual reports with the regulator. It is a further sign of the growth of Forex trading across Kenya. The CMA has regulated Forex brokers in Kenya since It grants three licenses, Dealing Foreign Exchange Broker, Non-Dealing Foreign Exchange Broker, and Money Manager.
Inthe CMA received the Most Innovative Capital Markets Regulator in Africa award. To date, only two Kenyan brokers hold a CMA online forex trading platforms in kenya. You need to determine what type of Forex trader you are or want to be, and then find the broker offering the right services to you.
New retail traders should seek the best educational courses, low-frequency traders commission-free accounts, and high-frequency traders require tight spreads. There are initiatives focused on Forex exchange Kenya to meet the expanding interest in Kenya. Brokers with M-Pesa accounts are preferable, but Skrill and WebMoney are alternative options that connect with M-Pesa. An upgraded MT4 trading platform, superior proprietary alternative, and mobile-focused app are beneficial.
The MT4 trading platformonce upgraded with add-ons, remains the best trading platform for most traders. It fully supports automated trading and has over 20, upgrades to improve the trading environment. Some brokers offer excellent proprietary alternatives, while online Forex trading in Kenya is also heavily conducted on mobile phones, for which traders should consider customized mobile apps. Trading from the right account type is essential and will have a significant impact on your trading results.
Pesa launched in Kenya in and has over 20 million users in Kenya. It allows swift transactions from mobile devices, access to the financial system from the unbanked, and ensures online forex trading platforms in kenya availability of the Forex market with easy access. While the availability of M-Pesa is not widespread with many international Forex brokers, a growing number offer it. Skrill and WebMoney allow money transfers to M-Pesa in Kenya, offering an alternative to consider.
The best Forex brokers in Kenya will ensure that M-Pesa is available, as it represents the most convenient option for Kenyans. Most Forex brokers explain all products and services on their website, while an FAQ section attempts to answer the most common questions. For other matters, live customer support resolves issues. Most support is in English, but many brokers deploy multi-lingual staff, per their client-base. Most traders will never require additional assistance at well-managed brokers but having swift access to customer service is essential.
We reviewed over brokers based on eleven criteria for more thanwords of dedicated research compiled over 1, hours to find the best Forex brokers in Kenya. No, Forex trading is completely legal in Kenya. There have not been any newsworthy reports of brokers operating illegally in Kenya or of non-Kenyan brokers scamming Kenyan traders. You can start trading Forex in Kenya by finding the broker that suits online forex trading platforms in kenya trading needs, opening an account, and making a deposit.
You should also make sure to educate yourself before managing a live trading account. Review our listing here of the top offshore international Forex brokers for residents of Kenya and decide which broker best suits your needs. Open a demo account and check them out and teach yourself to trade profitably, then switch to a live account once you are consistently profitable.
According to our in-depth research, the best Forex brokers in Kenya are FXTM, AVA Trade, IFC Markets, Pepperstone, and EuropeFX. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Skip to content. Online forex trading platforms in kenya Forex Trader Platforms. Best all around broker. High level regulation in multiple jurisdictions.
Impressive range of tradeable assets including vanilla options and gold options. Perfect choice for automated trading. Top-rated Canadian broker. Best ECN execution on the MT4 platform.
FXTM 5, online forex trading platforms in kenya. Unique Features. No cryptocurrencies or exotic currencies Low leverage for retail traders Internal withdrawal fees and an inactivity fee.
AvaTrade 5. In Summary Highly regulated, choice of fixed or floating spreads. MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based. Well-regulated globally, with the Bank of Ireland, the primary regulator Low minimum deposit and in-depth educational tools Wide asset choice across seven sectors Superior mobile trading platform.
Best Forex Brokers In Kenya 2021 (TOP 10)
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Forex Traders In Kenya. 15, likes · 87 talking about this. Forex Traders. A forum for all forex traders. learn and share forex trading skills 13/04/ · Here is our list of the best forex brokers in Kenya. IG - Best overall broker , most trusted ; Saxo Bank - Best for research, trusted global brand; Interactive Brokers - Great for professionals and institutions; XTB - Best customer service, great trading platform; blogger.com - Great all-round offering; eToro - Best copy trading platform; AvaTrade - Multiple trading platform optionsEstimated Reading Time: 2 mins 5 rows · 09/04/ · Best Forex Trading platforms in Kenya. We selected the best platforms for Kenyan traders after Estimated Reading Time: 8 mins
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