Top Ten Forex Brokers in Kenya

Choosing an appropriate Forex broker is an important first step towards making good money through online Forex trading. A reliable Forex broker is one that is regulated, credible, less costly, and offers favorable terms to the trader. The following are ten of the best Forex platforms in Kenya. The list is not exhaustive. There are many reliable Forex providers in Kenya, but we have chosen these 10 based on various parameters

  1. FxPro

This is one of the most popular Forex brokers in the world. It is reliable and credible because it is regulated in the UK by the Financial Conduct Authority (FCA). FxPro is trusted in Kenya because it offers low minimum deposit requirement. With only $100 (KES 11,000), you can open a trading account with them and start trading. The Forex broker also offers low spreads, so you can make good profits in forex trading using FxPro. Moreover, the Forex provider has multiple assets, including bitcoin, shares, currency pairs, and gold, etc. Its MetaTrader platform is easy to use, and has several trading tips sent via email every day. Depositing and withdrawing funds through credit and debit card is also easy, quick and reliable. Within a few minutes, your deposit appears on your account and you can start trading immediately at the comfort of your home.

  1. FOREX.com

This Forex provider is situated and regulated in the United States. The advantage of forex.com is that it has tight spreads, giving you a chance to increase your profits in Forex trading. It also has a new and improved Meta Trader 5, which is easy to use and offers multiple trading options. The broker also operates over 4,500 markets, including forex, equities, indices, crypto currencies, and commodities FOREX.com is trusted by millions of customers worldwide, and has reliable customer support at all times. Therefore, you can make good money trading Forex in Kenya using FOREX.com.

  1. FxPesa

This is a Kenya Forex broker with exclusive rights and license to operate Forex brokerage services online in Kenya. It is regulated by Kenya’s Capital Markets Authority (CMA), so it is credible and reliable. The advantage of this platform is that you can easily deposit and withdraw money using M-Pesa, bank account, and other payment methods in Kenya. Unlike brokers operated abroad, FxPesa has a Kenyan touch and experience. You can chat or speak with customer service staff in a language you understand in a personal way, making you feel secure and safe with online Forex trading in Kenya. Furthermore, FxPesa has a low minimum requirement, and you can trade with as low as $50. You can make millions of money trading Forex in Kenya through FxPesa, if you have the guts and knowledge of Forex trading.

  1. IG

IG has a long history since 1974 when Forex trading had not gone online. This shows that the Forex broker has experience in Forex trading, and is reliable because it has been trusted by customers for so long. Like most Forex brokers, IG offers its customers an opportunity to practice Forex trading through a demo account. This reduces risks when you start live trading because you will have learned the art and science of Forex, and will have developed a strategy that works best for you. It is also east and fast to open a live account with IG, and you can get responsive customer support 24/7. Trade Forex today with this UK-regulated Forex broker and get peace of mind.

  1. FXTM

FXTM is regulated in various financial centers of tier-1 jurisdictions, and offers competitive Forex services worldwide. The most important advantage of this Forex broker is that it offers exceptional customer service. Its MetaTrader 5 trading platform is also easy to use. FXTM also provides several research and trading tools for a wide range of CFDs. You can use FXTM to trade Forex in Kenya, and you increase your chance of earning extra income.

  1. Instaforex

Instaforex is an Asian regulated Forex broker with great experience and following in Asia and Europe. The Forex broker offers a demo account where customers are given virtual money to practice Forex trading until they are comfortable to operate real money. It also offers bonus for new clients so that you can have higher equity for increased profits until you gain confidence and footing in the Forex market. InstaForex also offers free real-time news updates, trading signals, and technical analysis from experienced Forex traders.

  1. OctaFX

OctaFX is regulated and licensed in Cyprus. The Forex broker does not have regulation in tier-1 jurisdictions just like FxPesa, but its low spreads and effective customer support provides a good opportunity for Forex traders in Kenya to earn good money. Customers also get 50% bonus on their first deposit.

  1. Olymp Trade

Olymp Trade is one of the most popular trading brokers in Kenya. It requires a minimum deposit of only $10. So, with your KES 1,000 you can open an online Forex trading account with Olymp Trade in Kenya. Olymp Trade is regulated by the Financial Commission, so you do not have to worry about credibility.

  1. XM Group

XM is regulated in both tier-1 and tier-2 jurisdictions, and is considered an average-risk broker. Thus, it is a safe and reliable Forex broker in Kenya. The problem with XM is that its MetaTrader platform is not upgraded significantly to provide proper customer experience. Furthermore, its trading services are a bit expensive considering its spreads and commissions.

  1. CMC Markets

CMC is regulated in major financial centers of the world, so it is safe, reliable, and secure. CMC offers one of the best pricing in the Forex market. It is also one of the best low-cost Forex brokers in the world. CMC Markets also provides exceptional trading tools in its MetaTrader, mobile, and online trading platforms.

Remember, trading CFDs is highly risky. This information is not given as an investment advice; it is an educational material to help you choose a Forex broker that meets your trading needs in Kenya.

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