Just like IG group XTB is publicly traded and regulated by various financial centres all over the world. It provides off-exchange forex options on over 40 pairs.

Ava trade was founded in as AvaFx before rebranding. On SharpTrader, users can find daily and weekly technical and fundamental analysis articles published daily. For finding trading opportunities, AvaTrade offers several social copy-trading platforms, including ZuluTrade, in addition to the Signals market on MT4. Therefore providing clients with a wide range of options for using trading tools across a good range of markets.

This, therefore, includes spot forex on 59 currency pairs and 37 currency pairs for forex options trading. Additionally, its group structure, EGM securities are part of a global business that delivers:. The also have the best trading platform in Kenya. All providers have a percentage of retail investor accounts that lose money when trading forex and CFDs with their company.

You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs and forex work. Mary is one of the leading writers on Urban Kenyans.

She is knowledgable on matters Kenya and has been able to educate many Kenyans on this platform. Save my name, email, and website in this browser for the next time I comment. This site uses Akismet to reduce spam.

Learn how your comment data is processed. For positions held overnight CM Trading charges rollover fees. You can also select from a variety of automated trading platforms, including the AvaSocial app, Zulu Trade DupliTrade, and more. To get started on AvaTrade, you must register for an account. To set up an account, you have to provide personal details such as your name, email address, and telephone number.

Furthermore, you will need to provide your place of residence and account details. You may have to provide information on your past trading experience, so the company can determine whether you are suitable to trade on a live account. Once this process is complete, you can begin trading.

However, to deposit or make a withdrawal you must first verify your account. Clients can trade at fixed and variable spreads. Pepperstone is a CMA Capital Markets Authority regulated foreign exchange broker. Founded in , Pepperstone offers a rich customer experience with strong features, ease of navigation, and reliability. You can trade on MetaTrader 5 on your phone or laptop and enjoy the feature-rich interface and customisable trading environment.

To start trading on Pepperstone, you have to set up an account. You can choose to sign up for a live account. However, if you are new to FX trading you can opt for a demo account. To register, you have to provide information including your personal details, trading preferences, employment, income, and sign a declaration. Upon providing this information, you will have to verify your ID electronically to complete the process.

The verification process takes up to 8 hours. The initial margin requirements for a trade depends on your account leverage, size of the trade, the instrument, and the transactional currency. You can calculate the initial margin using the Margin Calculator in your secure client area. HotForex is a leading forex and commodities broker, that provides trading services to both retail and institutional clients.

The platform is regulated by industry bodies, such as the FCA, FSCA, and the FSA. HotForex provides a safe and secure trading environment, with over 50 currency pairs and multiple trading platforms. To start trading on HotForex, you must sign up for an account. The next step will be to verify your account and continue the registration process. You may also have to provide additional details such as the base currency, client type, and create an investor profile.

Finally, you will need to upload an ID or passport and address verification documents. HotForex offers six accounts that offer flexibility for clients of all risk appetites. Moreover, the platform allows customers using MPESA to deposit a minimum of KES 1, There is no charge for deposits. Start Here Buy Bitcoin Earn Bitcoin Free Bitcoin Reviews Bitcoin Books Bitcoin CFD Brokers Bitcoin Courses Bitcoin Documentaries Bitcoin Exchanges Bitcoin Faucets Bitcoin Games Bitcoin Lending Platforms Bitcoin Mining Hardware Bitcoin Mining Software Bitcoin Stocks Advertising.

Connect with us. Share Tweet. How to Start Forex Trading in Kenya If you are looking to start trading forex, you will first need to find a suitable online broker. Additionally, you will need starting capital. Top Forex Brokers EGM Securities EGM Securities is the first CMA licensed forex broker in Kenya.

HotForex provides a safe and secure trading environment, with over 50 currency pairs and multiple trading platforms To start trading on HotForex, you must sign up for an account. Bitcoin Price. Join Our Community.

Kenyan Forex traders should choose a locally CMA regulated Forex Broker that has an international reach, low spreads and the best forex trading platforms. The list below shows the top forex brokers in Kenya based on their critera.

With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally.

Justin achieved Honours in Commerce and has a Master's degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees. Laura is a freelance content writer focused on financial and legal technology, decentralized finance, cryptocurrency and related topics.

Prior to beginning her writing career, she worked as an international disputes lawyer specializing in finance and construction cases in Paris, New York and Dubai. She holds degrees in law from Queen Mary University of London in Paris LLM and New York University School of Law JD , as well as assorted other diplomas in Literature, French and Philosophy from New York University MA and the University of Georgia - Athens BA Hons.

He has an MBA in finance from the University of Miami Herbert Business School. Fact Checked. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. Our top pick for the best forex brokers in Kenya and the most trusted online forex trading provider is Pepperstone.

Our team at Compare Forex Brokers conducted a rating process based on four elements:. Headquartered in Melbourne, Australia, Pepperstone is a multi-licensed forex broker to provide Kenyan traders access to the forex market. Pepperstone is one of only 3 brokers and the only international forex broker to hold a non-dealing Foreign Exchange Broker permit and be CMA licensed with the Capital Markets Authority of Kenya CMA. This makes Pepperstone the best choice for Kenyan traders, as they can offer global standard trading conditions legally to Kenyan traders.

Pepperstone can offer competitive spreads because of its price engine, which connects to various liquidity providers using STP-style execution to achieve ECN pricing. By comparison, the average spreads on the Razor account is 0.

For a complete forex spread comparison using ECN accounts of the reviewed forex brokers, have a look at the table below:. Data taken from broker website. Kenyan traders have to pay a commission on every CFD trade.

The commission charged by Pepperstone is competitive and when compared to other CFD brokers, the Australian-based broker comes on the top of the list. The minimum commission starts from:. To learn which account type is right for you view our page on Pepperstone account types. Pepperstone is one of the leading forex brokers with high leverage. The leverage for currency trading is up to However, at Pepperstone forex traders from Kenya can all access different financial instruments in the form of Contract for Difference CFDs with a maximum leverage of:.

Risk warning: leverage is a double-edged sword as it can magnify both your profits and your losses. Traders will still need to meet margin requirements to open a position,. Deposits and withdrawal transactions are secure because Pepperstone uses advanced encryption technology.

The forex payment methods come with no additional costs and are free of charge. Pepperstone Markets Kenya Limited holds CMA Licence No. It is a trustworthy forex broker along with offering competitive trading costs, leading customer support, fast trade execution, and other advanced trading features. IC Markets has the best range of trading platforms for beginner to expert CFD traders.

Among the best brokers in Kenya we reviewed, IC Markets is highly recommended for Forex traders who prefer using powerful trading platforms, including:. IC Markets is the trading name of International Capital Markets Pty Ltd, a financial services provider licensed and regulated by the Australian Securities and Investments Commission ASIC. In Europe, IC Markets operates as IC Markets EU Ltd, an entity regulated by the Cyprus Securities and Exchange Commission CySEC.

The platform is available as a Desktop and a Web-based version, and an app for mobile trading. One advantage of the cTrader software solution is that it allows for currency trading with ultra-low spreads. This could favour both Scalping and High-Frequency Trading. For every single currency pair, clients can view the available volumes for each price level at any time. IC Markets place no restrictions on limit orders, with clients being able to place their Stop Loss and Take Profit orders at the closest pip distance possible from the current market price.

The most popular trading platform, especially with Forex trading, has several distinctive features:. Kenya-based traders can take advantage of:. Low-fee forex trading in Kenya aligns with the raw spread account but beginner traders may prefer the simplicity of the standard account. You can view our details comparison page on the raw spread vs standard account.

In our best forex broker in Kenya review, IC Markets offers the most powerful selection of trading platforms. Pepperstone came in second place in our scoring system, but IC Markets scored more points due to the fact it offers a greater diverse range of tradable CFDs that also include bonds and futures. Among the brokers reviewed, eToro is the best FX broker for copy trading that allows Kenyan traders to earn money by following, copying and mirroring more experienced traders.

Over the years, eToro has become famous for its social trading platform and, at present, the broker has an active trader base of over 3,, people. As a global Forex brokerage, eToro is multi-regulated in the following jurisdictions:. We should note that CopyTrader allows eToro clients not just to replicate the trading activity of top traders, but also to join a global community of people with a shared interest — online Forex trading.

Copying the portfolio performance of a leading trader is quite effortless. Novice traders simply need to allocate a part of their available trading account balance to the trader they have chosen to copy.

Deposits in a different currency than USD will be converted at the current exchange rate and will incur a conversion fee. Copy-trading does not incur any management fees or other hidden costs. Overall, eToro has claimed the first spot in our star scoring system due to its large social investment network, small account opening and financial markets available for trading. Join the best social trading platform by clicking the button below.

The best online provider for trading CFDs and cryptocurrency trading is Plus Plus Ltd is a global CFD provider, specialised in helping you trade in a range of markets for over a decade. It is authorized and regulated in a number of jurisdictions, including:. As a globally regulated provider, Plus offers CFD products covering a wide range of markets, coupled with superior risk management tools.

It is also among the handful of Forex brokers that have a guaranteed negative balance protection policy, under which retail investor accounts cannot lose greater amounts than the initial deposit. With this risk management tool in place, Kenya-based retail clients feel more secure when trading with high risk, complex instruments known as Contracts for Difference CFDs on leverage.

Plus offers CFDs on over 2, financial instruments grouped in several asset classes as follows:. Plus offers 12 cryptocurrencies traded with a maximum leverage of and fixed spreads of Additionally, Plus also offers CFDs on the popular Crypto 10 Index traded with a fixed spread of Trading cryptocurrency CFDs have several advantages for the Kenya-based traders, including:. Grab your free demo trading account by clicking the button below.

HotForex offers multiple forex trading account types with individual characteristics. HF Markets is a global award-winning Forex and CFD broker, licensed and regulated by some of the most reputable regulatory bodies around the world.

HF Markets and Hot Forex are trading names of the HF Markets Group, the parent company of:. Among the best Forex brokers we recommend to Kenyan traders, Hot Forex offers the widest range of account types. of retail customers:. The Premium Account allows for flexibility in position sizing and is suitable for retail clients with experience. Traders can operate with up to 60 Standard lots for each position, while the minimum trade size is 0.

More account details can be seen in the table below. Kenya-based clients are able to trade with ultra-tight spreads, starting from 0. More account details are presented below. The HFcopy Account offers similar parameters to the Premium Account. The difference is that the HFcopy Account is suitable for Strategy Providers and Followers who have become part of HFcopy, a leading community of traders. At the same time, Followers are able to copy the trading activity of the Strategy Providers they have chosen to follow.

The Premium Pro Account is designed to suit the financial objectives of traders categorized either as Experienced Retail Clients or as Professional Clients. Experienced Retail Clients are considered those that meet certain criteria, including requisite experience specific trading activities conducted over the last 24 months , deep knowledge of derivative instruments proven work experience or training in the field as well as appropriate professional certificates and, last but not least, their country of residence in Poland.

Professional Clients are considered to be investors with vast knowledge and experience who have the ability to assess and manage their own risk. The broker also offers an Islamic Account, which does not charge swap or rollover fees when clients hold active positions overnight. Available only to customers of Muslim faith, the Islamic Account can replicate the trading conditions either of a Premium Account or of a Zero Spread Account.

Forex trading using leverage carries a high degree of risk, which is why risk management tools to mitigate that risk can be very useful. easyMarkets offers you solutions that help you manage risk. Using the trading name of Easy Forex Trading Ltd, an entity headquartered in Limassol, Cyprus they are regulated by the CySEC. The company also fully complies with the regulatory framework of the European Securities and Markets Authority ESMA. When signing up with easyMarkets, Kenya-based clients will be able to access unique risk trading tools, aimed to improve their overall experience and bolster their confidence.

One such tool is the dealCancellation option. easyMarkets dealCancellation is an innovative tool that allows Forex traders to cancel a losing position for a certain fee within a particular time period 1, 3, or 6 hours.

dealCancellation can be used quite efficiently during major economic or political events when some brokerages increase margins, as well as in other cases when market volatility may heighten. In the Open Trades Report section, the trader will be able to view which positions have the dealCancellation feature activated. This is another unique feature, offered by easyMarkets, which enables traders to freeze the current price quote on their screen.

Then, they will be granted several seconds to perform a trade.

To find a list of authorized forex brokers, residents can download the list of licenses report from the Capital Markets Authority website to verify the authorisation of a broker. Therefore the local finance market cleanup from unscrupulous companies was inevitable. Such a tool can be quite useful when trading Forex, especially prior to announcements by central banks or politicians, as well as before volatility-inducing macroeconomic reports GDP, Non-Farm Payrolls, Core PCE Inflation are released. Read more on forex trading risks. Most forex brokers that accept MPesa offer instant funding or deposit within few hours, so you should check with the broker first on their deposit time. Cons Limited choice of cryptocurrencies and commodities. There are six regulated and licensed forex brokers in Kenya.

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