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Best forex trading sites in kenya

Best Forex Brokers in Kenya 2022,How to choose the best forex broker in Kenya

WebOverall, XM is the best NDD forex platform in Kenya. XM is regulated by strict financial regulators in all relevant jurisdictions. XM offers a balanced mix of all the features that WebSilah Obegi is a top Forex trader in Kenya whose success was found in a more traditional sense. Obegi received a Bachelor of Business Management from Moi University, after Web2/1/ · The very best Forex brokers in Kenya will ensure that M-Pesa is available, as it represents the most convenient option for Kenyans. With more than , agents WebPepperstone is renowned worldwide for its ultra fast execution and razor thin spreads, making it one of the world's best retail forex brokers. With offices and licenses in ... read more

FBS 9. OctaFX FP Markets. Exness 2. Avatrade 3. HFM 4. Forextime 6. CM Trading 7. Go Markets 8. Alpari Easy Markets. OctaFX 2. Bdswiss 3. Axiory 4. Pepperstone 5. Plus 6. Exness 8. Go Markets 9. com Oanda 2. com 4. TD Ameritrade 5. ATC Brokers 6. Nadex 7. com 8.

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How to Invest Money How to Invest in ETFs How to Invest in Index Funds How to start Forex Trading How to Pick Shares How to Report a Forex Broker How to be Consistent in Forex. The top 10 best trading platforms in Kenya revealed. We tested and verified 10 best trading platforms for traders in Kenya. A forex broker is a financial services firm that gives traders access to a trading platform for buying and selling foreign currencies. Forex is an abbreviation for foreign exchange. In the forex market, transactions are always made between two different currencies.

A forex broker is also known as a currency trading broker or a retail forex broker. Forex trading has numerous advantages for traders in Kenya and can be particularly effective with the use of a reputable broker.

Trading should always be conducted on a regulated and feature-rich platform, of which we have listed the best below. HFM previously HotForex is a forex broker that offers a classy trading platform, a variety of pricing alternatives and account types, as well as competitive fees and spreads that average 0. Traders of any size or expertise can take advantage of unlimited liquidity and choose from a wide range of spreads and liquidity providers.

HFM offers a comprehensive set of research tools that are ideal for all trading strategies. Yes Minimum spread From 0. Due to its overall Trust Score of 93 out of a possible , AvaTrade has a low level of risk.

AvaTrade has received licencing from five Tier-1 Regulators, five Tier-2 Regulators and one Tier-3 Regulator. A single live trading account is provided by AvaTrade, but traders have the choice to trade with either a Retail trading account or a Professional trading account. Many respected organizations, including the Financial Sector Conduct Authority FSCA , have regulated Exness.

Based in Cyprus, Exness has offices in the United Kingdom Seychelles , South Africa British Virgin Islands , and Curaçao the British Virgin Islands. The service that Exness provides to traders includes a number of benefits, such as low commissions, instantaneous order execution, and the opportunity to withdraw money immediately via various instant withdrawal alternatives.

Oanda gives its customers access to a diverse selection of financial products, but it is especially effective as a desktop trading platform for seasoned investors who are looking for an improved trading experience.

There are variations in the availability of the product depending on the region. The broker has many strengths, some of which include transaction execution that is quick and reliable, research resources that are superior to industry standards, user interfaces that are easy to understand, and a track record of regulatory oversight that can be verified.

No NGN Deposits Allowed? Yes Bonuses for Kenyan traders? Yes Minimum spread 0. FP Markets is an excellent broker. It has over 10, products available across stocks, indices, foreign exchange forex , commodities, and cryptocurrencies, as well as a user-friendly mobile app and a variety of account types.

New traders will be drawn to the commission-free, low spread trading accounts that provide access to over 10, instruments via an extremely user-friendly mobile trading app, as will experienced traders to the commission-free, low spread trading accounts. Advanced traders will benefit from the commission-free ECN account, which gives them access to raw spreads, as well as the Direct Market Access option for its share CFDs, which is available via professional trading platforms MetaTrader 5 and IRESS.

No Minimum spread From 0. It is widely acknowledged that Pepperstone is one of the greatest online trading brokers in the industry. They provide traders from all over the world with access to all markets by utilising cutting-edge technology, offering low spreads, low latency, and high speed execution, in addition to award-winning customer service. Over the course of its history, the broker has been honoured with a variety of honours, including those recognising its excellence as a forex broker, its client assistance, its cutting-edge technology, and its ability to provide customers with the most favourable trading conditions imaginable.

Trading Platform MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade Minimum Deposit USD Trading Assets · Forex. No Bonuses for Kenyan traders? No Minimum spread from 0. XM, which is regulated by strict financial regulators in all relevant jurisdictions, builds on its established reputation by offering a balanced mix of the features that users value the most: security, support, ease of account funding and withdrawal, and cheap fees.

A high level of reliability is provided by XM, a trading platform that eliminates the uncertainty associated with order execution while maintaining a high level of compatibility with MetaTrader 4 and 5. FBS was established in and it has grown to become a large, reputable international forex and CFD broker. FBS offers competitive trading conditions, a range of accounts, advanced trading tools, and several other advantages to Kenyan traders, including low minimum deposit requirements.

As a trading name for the Tickmill Group of Companies, Tickmill is an award-winning worldwide ECN broker that has been in operation since As a forex and CFD trading service, Tickmill is well-regulated.

Currently, Tickmill has over , registered retail investor accounts, and over , active traders on its platforms. Tickmill accepts all traders and offers a variety of trading choices for beginners as well as more advanced investors. OctaFX is and STP and ECN broker that is based in Saint Vincent and the Grenadines. OctaFX serves traders from all over the world, including those in African countries like Kenya. This is the first important component that traders must thoroughly evaluate.

Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others. Kenyans must beware when dealing with brokers that only have offshore regulations such as FSA, SVG BVI, FSC, and others. Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.

Kenyans must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits among other trading and non-trading fees. The range of markets offered refers to the number and range of tradable instruments that the broker offers. Kenyans must consider what they wish to trade and what is available. Customer Support is another crucial factor and Kenyans must check the availability of support trading hours , the quality of support, and the promptness with which the customer support team responds to queries.

Traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need. Education and Research come in handy to both novice traders and experienced investors.

Education includes some of the following:. In this article we have listed the best Forex Platforms in Kenya that offer trading platforms in Kenya. We have further identified some forex brokers that offer additional services and solutions to Kenyan traders. Exness has offices in Cyprus, the United Kingdom, Seychelles, South Africa, British Virgin Islands, and Curaçao. HFM previously HotForex offers the MT5 trading platform, a variety of pricing alternatives and account types, as well as competitive fees and spreads that average 0.

Overall, Tickmill is the best trading platform for beginners in Kenya. Tickmill is a reputed and well-regulated forex and CFD broker. Tickmill is regulated by top-tier regulators like FSCA South Africa , FCA UK and CySEC. Tickmill offers instant internet banking deposit methods and quick bank transfer withdrawals.

Overall, FBS is the best trading platform for lowest minimum deposit in Kenya. FBS offers competitive trading conditions, a range of accounts, advanced trading tools, and several other advantages to Kenyan traders. Overall, Oanda is the best ECN platform in Kenya. Oanda gives customers access to many financial products for seasoned investors.

Oanda offers transaction execution that is quick and reliable, research resources that are superior to industry standards, user interfaces that are easy to understand, and a track record of regulatory oversight. Overall, BD Swiss is the best Islamic Forex Broker in Kenya. BD Swiss is a reputable and well-regulated broker with a large international clientele. BD Swiss offers a wide range of products for trading.

BD Swiss offers trading in many cryptocurrencies. You can trade with FXTM through the MetaTrader 4 and 5 platforms. Their financial instruments include Forex Currency Pairs, Cryptocurrencies, Stocks, CFDs, Commodities, and Precious metals. FXTM offers fair customer support. Live Chat offers a quick response and we did not find any hold times of over a minute during our test. We got a response to our queries within 3 hours through E-mail on a weekday.

They do not have a local phone number in Kenya. Here are the major factors that we have considered while reviewing the Forex Brokers accepting MPesa:. Top-tier Regulation s : The most crucial factor is the number of Tier-1 Regulators that regulate the Forex Broker. FCA, ASIC, NFA are considered as Tier-1 by the Forex industry. FSCA and CYSEC are Tier-2 Regulators. If the Forex Broker is listed publicly in a major Stock Exchange, then it is an extra trust factor.

Also, if the forex broker is regulated by CMA in Kenya then it is considered safe. This is most important to check in your forex broker. This makes them a well-regulated forex broker with low risk. One of them is FXPesa. Once you have the license no. There is a high risk that you could lose your deposits with such broker. Overall Fees: The factors considered here are spread, commissions, and charges on withdrawals and deposits. Some of them also levy extra fees where you are trading other CFD instruments.

So, it is vital to research the overall fees of the asset that you are seeking to trade. All regulated CFD brokers have spread comparison table. Make sure to check the fees for the instrument that you want to trade, and see if there is any other regulated broker offering the same instrument at lower fees.

Like, the broker in the below table has 0. There are other brokers with lower fees also. For ex. But if your account is in another base currency like USD, then your funds may be converted into KES at a lower exchange rates than the actual rates. So, you need to consider this commission too.

Although it is not necessarily that the broker is charging this fees, it could be their gateway charging this conversion commission.

Also, there must be multi-device support, quick execution, no freezing, and multiple order types. These can significantly enhance your trading comfort. All the 4 regulated forex brokers in Kenya offer the MetaTrader platform. Look for all the features that you would need to actively manage your trading positions. In generally, all the 6 regulated forex brokers have the same KYC procedure.

And the trading account is normally approved within the same day, if all the documents are complete. You must make sure to submit your genuine documents, otherwise you would face issues during withdrawal of funds from your trading account. Overall Trading Conditions: The execution of orders must be fast without slippage or re-quotes.

The best option is to choose a Broker offering Direct Market Access than Market Maker Brokers. You must also be offered negative balance protection so that the loss does not exceed the account balance.

Availability of guaranteed stop-loss protection is also an advantage. The Broker must also offer funds segregation for the security of funds. You must also check if the instrument that you are looking to trade is offered for the lowest fees or not. How is the Customer Support: Customer Support must be accessible 24X5 through Live Chat, E-mail, and Phone. The Chat Support must be helpful with minimal hold time. The E-mail revert to your queries must be quick and preferably within 1 or 2 hours max.

The local phone number support in Kenya will be another plus point. The Knowledge base must provide instant solutions. Check if the broker has a Kenyan phone number on their website. Also, the local brokers will have an Office address where you can visit. All the 6 regulated Non-dealing forex brokers in Kenya have these info on their website. They have listed their Kenyan phone no. on their contact page. If you are looking for a local broker that has office in Kenya, then we recommend FXPesa , which is the brand of EGM Securities — a CMA regulated broker.

What is the minimum deposit required for Forex Trading using MPesa? This depends on the broker that you are choosing. You should start by learning forex trading.

If you are a beginner then start by reading our Forex Trading for Beginners guide. TradeForexKenya Editor Last Updated: February 11, Leverage Available Instruments Visit. Leverage: for FX, for CFDs. Available instruments: 44 currency pairs, 19 CFDs. Leverage: for FX with Standard Account. Visit FXPesa. Regulations: CMA Kenya Minimum Deposit: Ksh. So, considered safe. During our tests we found that their overall fees is quite competitive.

They have competitive spread from 1. Also there is no inactivity fees. Ask your forex broker about their overall fees. Most brokers will have a spread comparison table on their website. Is the instrument that you want to trade available or not?

For example, you might want to trade CFDs on NASDAQ Many other forex brokers like Exness, FXTM, Hotforex etc. offer wide range of trading instruments. But if thee is some specific instrument that you want to trade, then always check first if that is available with the broker.

Ensure that these methods are available at the forex broker you are choosing. This below comparison table shows the average withdrawal time for different methods available at FxPesa. Similarly all other regulated brokers will have similar page on their website. But there are no extra charges for withdrawal in Bank account in Kenya, and Mobile Money like MPesa.

It could be related to any issue from withdrawals, to general queries. We tested it by contacting different brokers via various support channels. on their website. They are regulated with CMA, and they have have listed the Kenyan contact details on their website.

or by sending an email. See how good the broker is in responding to your questions. There are 4 CMA licensed brokers in Kenya currently. EGM Securities FXPesa is 1 in our list of recommended forex broker for Kenya. Scope Markets is a new Kenyan broker which stated its operations since May There are only a handful of forex brokers regulated by CMA, but traders in Kenya should only choose brokers regulated locally with CMA for safety of your funds.

Or choose any reputed foreign brokers like Hotforex, XM Forex which are regulated with top-tier regulators like FCA, ASIC, CySEC. What are the best forex trading platforms in Kenya? All the popular brokers like Hotforex , Forextime provide trading on these two platforms with additional support for WebTrader and mobile devices. Both these platforms have features of fundamental and technical analysis tools, copy trading and other additional features.

Online forex trading is legal in Kenya, and is regulated by Kenyan financial regulator CMA i. Capital Markets Authority CMA of Kenya. It was founded under Capital Markets Act There are 4 Forex Brokers in Kenya regulated by CMA as of December As per law, the brokers offering their services in Kenya are required to be regulated under CMA, which was done in order to safeguard the investors from fraudulent schemes and misconducts.

In , stricter regulations were passed in which CMA had to strictly oversee online forex business in Kenya. Capital Markets Online Foreign Exchange Trading Regulation required organizations to register under CMA. But currently the market is limited to only 4 local providers i. Which Forex Broker in Kenya has the lowest minimum deposit? HotForex has a minimum deposit of Kes. TradeForexKenya Editor Last Updated: February 17, Leverage Available Instruments Visit.

Leverage: for FX, for CFDs. Leverage: for FX with Standard Account. Visit FXPesa.

Last Updated: February 17, There are estimated to be around 90, active forex traders in Kenya and this number is growing. For this, it is very important to choose a broker that is regulated with local Kenyan Regulator CMA or reputed international regulators like FCA, FSCA, CySEC or ASIC. We have compared and listed brokers that matched our criteria for regulation, reputation, security, fees for Kenyan traders. Now we will explore the detailed features of each broker in our list, one by one, starting from Hotforex.

They are authorized by CMA of Kenya which is the local regulatory body , so we consider them as a safe broker for traders in Kenya. FXPesa is a non-dealing desk NDD broker, which means that there is no conflict of interest. They provide market execution of trades with all their trading account. FXPesa are a MetaTrader 4 offering broker, and latest MT5 or cTrader is not available with them.

But they have their own platform which is available on all devices. They offer funding in USD as well as in Kenyan Shilling KSh. via local bank transfer. But the account currency will be in USD. HotForex is our recommend forex broker for Kenyan traders.

HotForex is regulated by CMA as a Non-dealing online forex broker with license no. This makes HotForex a low risk forex broker for traders in Kenya. In terms of fees, they charge a low spread i.

For low spreads, traders can open open Zero account with which the spreads start from 0 pips. The commission per lot with this account is Kes. Only a few brokers offer this feature.

They use the payment gateway Dusupay on their website, and the minimum deposit is Kes. They also have a local office with address in Nairobi on their website. They also have local phone no. They are well regulated under multiple Top-Tier regulators including FCA, FSCA, CySEC, so we consider them a safe broker. Exness offers features like excellent support, low spreads, education through tutorials, strategies and free analysis tools. Exness provides services for two types of accounts — Standard and Professional.

The maximum leverage offered for both accounts is One of the major benefits with Exness is they have very low spread compared to most other competing brokers. Account types available help both newbies and pro traders.

Other benefits include readily available support, fast executions, daily market reports, support from Expert advisors and meta trader plugin supports.

There are more than instruments to choose from including forex, CFDs on precious metals, energy and indices. Their fees is lowest with their Ultra Low account. Their trading accounts are quite straightforward. XM provides four account options. For Standard and Micro account, the required minimum deposit amount is 5 USD and gives a maximum leverage of For XM Ultra Low account, the required minimum deposit amount is 50 USD with similar leverage.

Plus they have free access to forex market education including their research, forex webinars, video tutorials and free daily technical analysis that is available to all their customers. Plus, they accept M-Pesa for account funding. Available Platforms: Metatrader 4 and Metatrader 5 for desktop and mobile and WebTrader. The parent company of FXTM, Exinity Group Exinity Capital East Africa is regulated by CMA, so it is considered a safe forex broker to trade with for Kenyan traders.

FXTM offers two broad account options — Standard and ECN, both accounts having further sub-account types. Both accounts come with a maximum leverage of upto Additional benefits include in-depth market analysis, tutorials through webinars and seminars.

Additionally, FXTM also supports trading in Cryptocurrency. Scope markets SCFM Limited was the second forex broker that was granted license by CMA in It is considered a low risk forex broker for Kenyan traders because of their regulated by CMA.

The Silver account is a standard account type with no commissions, but their average fees is quite high i. Their support is decent. There are some points that you must check in a broker before you choose them. Below is our points checklist that you can use an a guideline:.

Regulated brokers can be held accountable for any bad practises like stop hunting, trading againt customers etc. But when you are trading with an unregulated broker there will be no Grievance Redressal in case the broker commits a fraud against you. There are 6 forex brokers regulated by CMA as of Feb. They normally update the list every month. For ex. FXPesa is regulated for offering Forex Trading as Non-Dealing FX broker under License no. The above example is the Regulation and Client Protection document as FXPesa which highlights their company name, Company Registration No.

Some brokers may tell you that their spread is low, but may not tell the fact that they charge commission per trade or charge fees during withdrawals. Some forex brokers like FXTM charge withdrawal fees with some of their methods. During our tests we found that their overall fees is quite competitive.

They have competitive spread from 1. Also there is no inactivity fees. Ask your forex broker about their overall fees. Most brokers will have a spread comparison table on their website. Is the instrument that you want to trade available or not?

For example, you might want to trade CFDs on NASDAQ Many other forex brokers like Exness, FXTM, Hotforex etc. offer wide range of trading instruments. But if thee is some specific instrument that you want to trade, then always check first if that is available with the broker. Ensure that these methods are available at the forex broker you are choosing. This below comparison table shows the average withdrawal time for different methods available at FxPesa.

Similarly all other regulated brokers will have similar page on their website. But there are no extra charges for withdrawal in Bank account in Kenya, and Mobile Money like MPesa.

It could be related to any issue from withdrawals, to general queries. We tested it by contacting different brokers via various support channels. on their website. They are regulated with CMA, and they have have listed the Kenyan contact details on their website. or by sending an email. See how good the broker is in responding to your questions.

There are 4 CMA licensed brokers in Kenya currently. EGM Securities FXPesa is 1 in our list of recommended forex broker for Kenya.

Scope Markets is a new Kenyan broker which stated its operations since May There are only a handful of forex brokers regulated by CMA, but traders in Kenya should only choose brokers regulated locally with CMA for safety of your funds. Or choose any reputed foreign brokers like Hotforex, XM Forex which are regulated with top-tier regulators like FCA, ASIC, CySEC.

What are the best forex trading platforms in Kenya? All the popular brokers like Hotforex , Forextime provide trading on these two platforms with additional support for WebTrader and mobile devices. Both these platforms have features of fundamental and technical analysis tools, copy trading and other additional features. Online forex trading is legal in Kenya, and is regulated by Kenyan financial regulator CMA i. Capital Markets Authority CMA of Kenya.

It was founded under Capital Markets Act There are 4 Forex Brokers in Kenya regulated by CMA as of December As per law, the brokers offering their services in Kenya are required to be regulated under CMA, which was done in order to safeguard the investors from fraudulent schemes and misconducts. In , stricter regulations were passed in which CMA had to strictly oversee online forex business in Kenya. Capital Markets Online Foreign Exchange Trading Regulation required organizations to register under CMA.

But currently the market is limited to only 4 local providers i. Which Forex Broker in Kenya has the lowest minimum deposit? HotForex has a minimum deposit of Kes. TradeForexKenya Editor Last Updated: February 17, Leverage Available Instruments Visit.

10 Best Forex Brokers in Kenya,Best Trading Platforms in Kenya

WebPepperstone is renowned worldwide for its ultra fast execution and razor thin spreads, making it one of the world's best retail forex brokers. With offices and licenses in Web2/1/ · The very best Forex brokers in Kenya will ensure that M-Pesa is available, as it represents the most convenient option for Kenyans. With more than , agents WebOverall, XM is the best NDD forex platform in Kenya. XM is regulated by strict financial regulators in all relevant jurisdictions. XM offers a balanced mix of all the features that WebSilah Obegi is a top Forex trader in Kenya whose success was found in a more traditional sense. Obegi received a Bachelor of Business Management from Moi University, after ... read more

Unfortunately, multiple days would pass before he was able to make a sale. Best CFD Trading Strategies What is CFD Trading? To give you the best possible experience, this site uses cookies. Performance Performance. Facebook Twitter Youtube Linkedin Instagram Pinterest. JP Markets offers a welcome bonus to all new traders who choose to register for a real account. MetaTrader 4.

FXTM is considered safe because it is regulated by the top FCA. Forex Brokers by Country. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Read detailed HotForex Review. Both accounts come with a maximum leverage of upto One of them is FXPesa.

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