RoboForex Kenya Review Regulated by CySEC, IFSC Trading accounts: Standard, Cent, ECN, Prime Leverage: Up to Platforms: MT4, MT5, cTrader, Mobile, Web. Exness Kenya Review Regulated by CySEC, FCA, FSA Trading accounts: Standard, Cent, Raw Spread, Zero, Pro Leverage: Unlimited Platforms: MT4, MT5, Mobile, Web. Tickmill Kenya Review Regulated by CySEC, FCA, FSCA, FSA Trading accounts: Classic, Pro, VIP Leverage: Up to Platforms: MT4, MT5, Mobile, Web.

FXTM Kenya Review Regulated by CySEC, FSC, FSCA, FCA Trading accounts: Micro, Advantage, Advantage Plus Leverage: Platforms: MT4, MT5, Mobile, Web. HFMarkets Kenya Review Regulated by CySEC, FCA, DFSA, FSA Trading accounts: Micro, Premium, Zero, Auto, PAMM Leverage: Up to Platforms: MT4, MT5, Mobile, Web.

Alpari Kenya Review Regulated by FSA Trading accounts: Standard, Cent, ECN, ECN Pro Leverage: Platforms: MT4, MT5, Mobile, Web. HYCM Kenya Review Regulated by CySEC, FSC, DFSA, CIMA Trading accounts: Fixed, Classic, Raw Leverage: Up to Platforms: MT4, MT5, Mobile, Web.

Forex Brokers in different categories:. ECN Account Forex Brokers. Cent Account Forex Brokers. Micro Account Forex Brokers. Low Spread Forex Brokers. How to Choose The Best Forex Broker in Kenya. It is common knowledge that Forex trading is quite complicated as well as requires enough knowledge and experience.

However, choosing the best Forex broker is actually the biggest trade of all. Some people may ask why you should carefully choose a Forex broker for your trading journey. The answer is to increase your odds of success in the competitive market and to make sure you can focus on the important things when trading.

Before choosing your Forex broker, it is important to figure out what type of trader you are. Are you a day trader, scalper, or maybe news trader? In addition, you should also determine your investment goals, trading volume, strategies, and trading styles. After you have the answers to the above questions, ask yourself these five important questions about your broker to find out whether a broker is truly suitable and the best for you or not.

This is the first and the most important aspect of choosing a Forex broker. Their main tasks are to prevent traders like us from fraudulent companies and ensure a fair market environment for all participants. Being regulated means that your funds are kept safely and securely in segregated accounts so the brokers will not be able to use your funds for their operational activities.

But, remember that regulated brokers do not guarantee problem-free trading. However, it can at least prevent potential scam issues. Alternatively, you may find this information on other pages, such as About Us, Regulations, and so on. There are a lot of trusted and prominent financial regulators in the world. They have different jurisdictions and requirements, such as: 👉 Cyprus Securities Exchange Commission CySEC in Cyprus 👉 Financial Conduct Authority FCA in the United Kingdom 👉 Australian Securities and Investments Commission ASIC in Australia 👉 Dubai Financial Services Authority DFSA in Dubai 👉 Financial Market Supervisory Authority FINMA in Switzerland 👉 Financial Sector Conduct Authority FSCA in South Africa 👉 Monetary Authority of Singapore MAS in Singapore 👉 National Futures Association NFA in the United States 👉 The Federal Financial Supervisory Authority BaFin in Germany 👉 Financial Markets Authority FMA in New Zealand Aside from regulators, Forex brokers may also be a member of a compensation scheme or another international organization , such as The Financial Commission, Investor Compensation Fund ICF , and Financial Services Compensation Scheme FSCS.

Client support is an aspect that is actually essential but is usually brushed aside by many traders since they have not needed them yet. You need immediate assistance because you want to open a trade quickly before the market shifts again. But, it turns out that their live chat support is not available at that time and can only help you within 24 hours. You have no choice but to lose your chance to earn profits since the Forex market is very liquid and can change in a matter of milliseconds.

Are the customer support teams friendly, helpful, and professional? Do they tailor their answers based on your questions or do they just copy and paste canned answers? What support channels do they offer? Do they provide various ways to reach out to them, such as call, live chat, web form, email, media social, or chatting apps?

What is the average wait or response times of the live chat until you can talk with a human? You can try to contact them and ask some questions to evaluate their responses.

If your broker offers excellent customer service, then you can eliminate one more thing from your mind and focus on your trading. What are the conditions? Forex brokers usually offer several trading account types with different conditions. There are accounts suitable for beginner, experienced, and professional traders. Therefore, you have to make sure that your chosen broker offers an account type that suits your trading level, needs, risk appetite, and styles. For example, with leverage of , you can trade up to 1, USD just by using 10 USD.

Professional accounts usually have higher maximum leverage, while beginner accounts offer lower maximum leverage. Since leverage is extremely risky , make sure that the offered leverage is according to your needs and use it with caution. The wider the spread, the more difficult to make profits.

Thus, popular pairs usually have tighter spreads. Here we picked some of the more popular Forex trading schools with free courses and webinars in Kenya:. Day trading is a strategy that requires traders to buy and sell financial instruments within a day. Though the Capital Markets Authority has given the Nairobi Securities Exchange permission to initiate day trading in Kenya, it is considered a highly risky investment strategy, and traders must be aware of the potential risks before they begin trading.

Day trading requires a significant amount of dedication as it involves opening and closing multiple positions within one trading day. Even if there are schools or brokers offering day trading education we advise avoiding it due to the high risks of losing money involved. Binary Options are financial products requiring traders to speculate if the price of the underlying assets will either go up or down. Read more about binary options in our article.

Due to the lack of serious regulations on trading, there are many offshore brokers in Kenya, schools, and individuals targeting the population, so we advise choosing only reliable sources. There might be some binary options schools and courses, however, we do not recommend trading and learning them since binary options are forbidden by most regulators worldwide, due to high risks and lack of transparency.

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As the online forex industry continues to gain popularity in Kenya , there are multiple investors who have emerged as leading forex traders in the country.

These traders have not only proven that it is possible to trade profitably but also become wealthy from the global forex market in Kenya. Kenya , is a country situated in Eastern Africa with a population of approximately 47 Million potential Forex Traders. Tourism in Kenya is the second-largest source of foreign exchange revenue following agriculture and currency exchange is not only legal, but essential for business to be conducted.

The Most successful Forex traders in Kenya is also unique as the list features a female forex trader , a true rarity in the Forex World. Before he joined the ranks of the Best and most successful Forex traders in Kenya , Mugenda was a student living in relative poverty, enrolled in the Technical University of Kenya.

He was getting by with very little money given to him by his parents. Mugenda has always had an entrepreneurial mind and was able to develop some of his own hustles on the side in order to help him save some pocket money for personal use.

Initially, Mugenda would buy tea in bulk, repackage them, and resell them to various passers-by. But, even with this extra income, Mugenda was struggling to make ends meet, with multiple financial responsibilities, such as his studies, needing his attention. As a result, Mugenda decided to find a new source of income in the form of a traditional 8 to 5 job — as an insurance broker. Unfortunately, multiple days would pass before he was able to make a sale.

At this point a friend introduced Mugenda to the world of forex trading , lending him the money needed to make a start. Unfortunately, Mugenda like many other beginner traders lacked the knowledge necessary to make smart investments and lost all of his invested money. Surprisingly, the same friend was generous enough to provide Mugenda with another loan, and took the time to sit down and explain all of the factors connected to the trade, making Mugenda more prepared and equip. Within a few months, Mugenda was making a reasonable income from Forex trading and his wealth continues to accumulate.

Mugenda, a man in his twenties, has made headlines due to his rapid acquisition of wealth as a Forex trader. Mugenda is incredibly successful in the forex trading field and has gone above and beyond to create Paris FX — a Forex company which has gained significant profits in the past few years.

After he graduated from college, Githaiga was unsure of which direction he wanted to go in but decided that the traditional office job setting was definitely not the ideal choice for him. Through a simple Google search, Githaiga came across the concept of Forex trading. Today, Forex is by no means his full-time job, taking up a very small portion of his day-to-day life.

Githaiga gained most of his trading knowledge through self-education on the internet. Silah 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 which he worked his way up in the field of finances.

Currently, Obegi is the C. at Meta Capital Limited. Throughout his experience within the financial fields, Obegi has been able to develop an automated Forex trading system which is unbelievably lucrative. Obegi is the Director of the Nairobi School of Forex, where he shares his knowledge of the Forex trading system and automated tools he developed.

Joshua Matumo is the founder and managing director of a company called Fourth street Consultants. Matumo began his trading career in at Strathmore University and specializes in trading currencies as well as commodities. Joshua Matumo is known to be excellent when it comes to risk management and professional market analysis alike.

Fourth street Consultants also offers consultations and comprehensive courses on Forex trading. Kamau works as a banker aside from trading.

Forex trading has allowed Kamau to earn an extra income alongside his traditional day job. Kamau is still seen as a newbie in Forex trading, but the progress made on the path of becoming one of the most famous Forex traders in Kenya is without a doubt amazing. For two years Sylvia found, read and learned as much as possible on how to become a successful forex trader in Kenya. Muchai signed up to multiple online trading courses, opened numerous demo accounts, and attended trading seminars both on and offline.

Patrick Mahinge can best be described as a serial webpreneur who started trading forex in Mahinge does not hold any academic qualifications in finance and studied Journalism at Egerton University.

Eight years ago, after failing to secure a formal employment, he started looking into online forex trading. Patrick Mahinge is the founder of the Kenya Forex Firm, which provides training and portfolio management services for potential forex traders situated in Kenya.

He also works as an online blogger and builds new businesses from home. Vincent Nyagaka is forex trader with over 6 years of experience in the field. He decided to venture into forex trading after his traditional income was not sufficient, purchasing online courses and learning as much as possible. Nyagaka later founded Benstride where he teaches students on how to trade in Forex.

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