kenya forex brokers

Kenya Top 3 Forex Brokers

Kenya top forex and cfd brokers as reviewed by our experienced staff at WeCompareBrokers.com

We use our 74 point check to evaluate every broker for a country or region and only list brokers who meet our stringent measures. To appear in the “Top 3” list for any type of trading, the broker must be able to perform to a high standard.

Below are the brokers we feel deserve to be in the list.

OctaFX

our score

From 0.4 pips

Spreads:

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$50

Min. deposit

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  • MT5
  • MT4
  • WebTrader
  • Mobile apps
  • Proprietary
See Platforms
  • Micro
  • Retail
  • VIP
  • Professional
See Accounts
  • Fixed
  • Variable
See Spreads
  • Bank transfer
  • Credit Cards
  • PayPal
See Methods

XTB

our score

From 0.3 Points

Spreads:

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£100

Min. deposit

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  • MT5
  • MT4
  • WebTrader
  • Mobile apps
  • Proprietary
See Platforms
  • Micro
  • Retail
  • VIP
  • Professional
See Accounts
  • Fixed
  • Variable
See Spreads
  • Bank transfer
  • Credit Cards
  • PayPal
See Methods

eToro

our score

From 1 Point

Spreads:

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$200 (CN$500)(RU$100)

Min. deposit

Learn More
  • MT5
  • MT4
  • WebTrader
  • Mobile apps
  • Proprietary
See Platforms
  • Micro
  • Retail
  • VIP
  • Professional
See Accounts
  • Fixed
  • Variable
See Spreads
  • Bank transfer
  • Credit Cards
  • PayPal
See Methods

Forex trading in Kenya

Forex trading in Kenya for beginners

Forex trading is something that appeals to people all around the world. This is no different in Kenya than it is anywhere else. Getting started with forex trading can often seem like a difficult hurdle to cross for beginners. This first step is certainly the most difficult. All it takes is a little bit of confidence and some research. Your first step should be to discover which broker is right for you. There are a lot of things to take into account when choosing a broker, so it is important that you check out as many guides and reviews as possible when deciding. As a beginner, you will want to find a broker with a simple-to-use platform that still offers plenty in terms of features. It is also vital that you choose a broker that is regulated in order to protect yourself.

Forex trading tutorials in Kenya

There are a lot of different tutorials on offer when it comes to forex trading. It is best to use one that is dedicated to trading within Kenya – that way, you can ensure that you are getting the right information for where you are. A tutorial will help you to increase your knowledge and therefore enjoy your trading experience a lot more.

Can you get rich by trading forex in Kenya?

Getting rich from trading with forex is not an easy proposition. This is not to say that it cannot be done, but it does require a great deal of luck to go along with a large bankroll and extensive research. You will have to put in a great deal of time in order to get rich and see the kind of fast rises that require luck to be delivered. Hard work and a lot of research can help this process, but as with any trading, this is not guaranteed.

Is forex trading in Kenya profitable?

Making your trading profitable in Kenya is a much more achievable goal than becoming rich. This is because trading in a profitable manner does not require large swings over short periods of time like getting rich does. This means that luck plays a smaller part, and smart trading can offer a much bigger chance of a profitable trade taking place. It is still not guaranteed to happen: the market can be volatile at any time, which will impact on how successful your trades are. Of course, this does not always go in a negative way, and it does also mean that you can see larger gains than you initially expected. However, it is important to realise that there is a degree of risk involved with forex trading.

How do I start trading forex in Kenya?

If you want to start trading forex in Kenya, then you will need to find a broker to trade with. Finding the right broker is an important step, so make sure that you carry out the right amount of research to do so. Once you have done this, you can begin trading. Just make sure that you learn as much as you can about trading first. It is a complex subject and is not something that can be picked up in an hour. Spend the time and you will have a better chance of reaping the rewards.