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; City Index - Excellent all-round offering; XTB - Best customer service, great trading platform; blogger.com - Great all-round offering; eToro - Best copy trading platform Is Forex trading illegal 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. How to start Forex trading in Kenya? You can start trading Forex in Kenya by finding the broker that suits your trading needs, opening an account, and making a deposit 13/04/ · IC Markets our nomination as the Kenyan broker with the best forex trading platforms for beginner and advanced traders. Among the best brokers in Kenya we reviewed, IC Markets is highly recommended for Forex traders who prefer using powerful trading platforms, including: cTrader; MetaTrader 4; MetaTrader 5 platforms
5 Best Forex Trading platforms in Kenya - Features, Fees compared!
Last Updated: April 9, Trading platform is the interface offered by brokers to facilitate trading. It is arguably one of the most important features to consider before signing up with the broker. It should have a downloadable desktop app, mobile app or a web-based trading platform with live uninterrupted data feed, an ability to customise the chart views with a clean and aesthetic User Interface UI.
Ease of setup and grievance handling abilities are nice add-ons to a broker with a good trading platform and should have a significant forex trading platform kenya in your decision to go with one. Now we will explore the detailed features of each broker in our list, one by one, starting from Hotforex. HotForex is a global award-winning broker regulated under FSCA since They offer very low spreads on their trading platforms.
HotForex does not charge any on deposits or withdrawals. And withdrawals placed before 10 AM are processed on the same day. Designed for trading numerous types of instruments, Metatrader versions are the most used trading platforms among the trading community for their convenience and rich functionality. Their MT5 offers fundamental analysis in addition to technical charts that MT4 comes equipped with and offers additional financial instruments like CFDs on stocks and commodities. With more charting on multiple timeframes in MT5, the traders can easily implement their strategies, chalk out entry and exit points and finally help themselves to profit.
Plus is a CFD broker that offers CFDs on a variety of instruments like stocks, Forex, Indices, commodities, Cryptocurrencies, ETFs as well as Options. It is regulated by multiple Top tier regulators i.
FCA, ASIC etc, forex trading platform kenya. and Kenyan traders will be registered under the jurisdiction of CySEC of Cyprus. Plus has a proprietary trading platform that is easy to use, and beginners can benefit from its look and feel. One can trade multiple markets from the same screen, with real-time quotes available.
Its mobile platform is well-developed with multi-asset trading capabilities. The platform is available for desktop Windows onlyMobile available for iOS, Android and a web trader also. You can check the platform by the demo trade capability offered by the broker. With an attractive leverage and multilingual 24×7 support, it features among the best brokers. It is one of the top CFD brokers by number of Active traders in with more thanactive traders. FXTM offers the industry-leading trading platforms MT4 and MT5 for PC, Mac, mobile or tablet to suit beginners as well as advanced traders.
A webtrader is also available for those who want to directly trade from the browser. FXTM even offers a multi-account manager MAM on MT4 which lets you trade with multiple accounts. FXTM also has ECN accounts, and they are regulated by FCA in the UK, FSCA of South Africa and has been in the industry since Standard account has tight floating benchmark spreads starting from 1. FXTM has easy deposit and withdrawals, charges no commission forex trading platform kenya deposits and processes withdrawals usually under 24 hours with commission depending on the mode of transaction.
XM Forex offers MT4 and MT5 for PC and Mac, android and iOS as well as for Ipad. It also offers MT4 Webtrader where one can trade from the web browser itself without downloading anything. XM offers over trading instruments through its MT4 and MT5 in Forex, CFDs and Futures. They are regulated and licenced by reputed authorities, but Kenyan traders are registered under the jurisdiction of XM Global IFSC.
It is a low-cost broker and claims no slippages in the trades executed. Through MT4 offering, a single login access is provided by XM for all 8 MT4-enabled devices and through MT5 offering, a single login access is provided for all 7 MT5-enabled devices. With a freedom to use Expert Advisors and a One click trading functionality where one can open or close trades with just one click allowing a quick lock-in to profits, professional traders can really benefit.
XM also allows hedging to the trading portfolio. XM Forex app can be used to track trades or even place forex trading platform kenya, if one registered for MT4 or MT5 platforms.
Etoro is a social forex trading platform kenya platform setup back in A unique experience where users can interact with fellow traders and copy their trades, enabling beginners and advanced traders to profit from their combined strategies. One can check out Etoro by opening a virtual portfolio before putting real money.
There is a research tab forex trading platform kenya market depth. Other notable functionalities include One-click trading, stop loss, trailing stop loss and offline trading capabilities.
Depending on the instruments, there are CFDs as well as delivery-based assets. Withdrawals can be done via wire transfer, Paypal and even to Credit cards to the same account where the funds were deposited, forex trading platform kenya. Estimated withdrawal process time is days for many payment providers.
Multi-device support: Make sure the trading platform is available on multiple devices, which gives you access to the trades on the move. Being able to access it on mobile as well as tablets, forex trading platform kenya, you will not miss major profit-making opportunities.
Multiple order types: It is important to place the order based on the situation hence different types of order placing capabilities can really make a difference. Stop loss orders, limit orders, market orders, buy stop or a sell stop order are different types which a trader can place depending on the circumstance, hence look for a trading platform that lets you access these. No downtime: Some platforms tend to freeze during critical moments of a trade.
Some platforms tend to remove stop loss orders and do not close the trade as per the given instructions which is unethical. Hence it is important to go through reviews and choose the one that performs well, forex trading platform kenya. Available trading instruments should not limit your trading hence it is better to ensure all assets you would like to trade are available. Also, the content helps to navigate the platform and familiarize with it. Economic calendar also strategically impacts your trades, so a well-built calendar is quite useful.
Check for reviews on the historical spread, commissions for various accounts on offer as well as minimum deposit and withdrawal fees. TradeForexKenya Editor Last Updated: April 9, Trading Platforms Proprietary for web, mobile. And FXTM trader app. Visit Hotforex. Read Hotforex Review. Visit Plus Visit FXTM. Visit XM, forex trading platform kenya. Read XM Forex Review. Visit Etoro.
Hotforex is 1 rated FX platform Visit, forex trading platform kenya. Back To Top, forex trading platform kenya. Regulation s : FCA, FSCA, CySEC. Visit Broker. Regulation s : FCA, ASIC. Regulation s : FCA, FSCA. XM Forex. Regulation s : ASIC, forex trading platform kenya, CySEC. Regulation s : FCA, CySEC.
8 THINGS TO KNOW WHEN YOU START TRADING FOREX IN KENYA
, time: 7:58Top 8 Forex Brokers in Kenya (Best FX Platform Guide)
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; City Index - Excellent all-round offering; XTB - Best customer service, great trading platform; blogger.com - Great all-round offering; eToro - Best copy trading platform 13/04/ · IC Markets our nomination as the Kenyan broker with the best forex trading platforms for beginner and advanced traders. Among the best brokers in Kenya we reviewed, IC Markets is highly recommended for Forex traders who prefer using powerful trading platforms, including: cTrader; MetaTrader 4; MetaTrader 5 platforms Is Forex trading illegal 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. How to start Forex trading in Kenya? You can start trading Forex in Kenya by finding the broker that suits your trading needs, opening an account, and making a deposit
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