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 4. · In Kenya, forex brokers can offer two types of spreads: fixed and variable spreads. The best forex broker with low fixed spreads is AvaTrade. FX traders can trade the major currency pairs enjoying spreads as low as pips. On the other hand, Pepperstone offers the 6. · FX Empire’s top picks for the best forex brokers in Kenya. We evaluated online brokers for their regulations, trading platforms, customer service,
5 Best Forex Brokers in Kenya - Forex Trading in Kenya
FXPesa is a popular FX trading platform in Kenya that is regulated with CMA. But we found some downsides. They were launched in FXPesa is the trading name of EGM Securities Limited company registration number PVT-AAAAFF7forex trading platform kenya, a Non-Dealing Desk NDD broker providing Electronic Communications Network ECN execution of Forex and CFD trades and regulated by Capital Market Authority CMA of Kenya.
The broker would be held accountable in case of any wrongdoing or mishandling of funds. They also have a local office and a phone number to reach out to. Spread: FXPesa charges a higher spread on standard currency pairs when compared to the other brokers. If we compare the same currency pair of EURUSD with Hotforexthey charge 1. This means that Hotforex provides lower spread when compared to FXPesa. Other brokers like XM Tradingtoo, have a lower spread of 0.
Commission s : The only account currently offered on FXPesa is the Executive account, which is no-commission spread only account. So, forex trading platform kenya, there are no commissions charged for trading on FXPesa. Deposit and Withdrawal Fee: All local deposit and withdrawals methods are fees free for traders in Kenya.
Inactivity Charges: FXPesa will charge an inactivity fee if the account is inactive for calendar days or more.
Activity counts as placing or closing of a trade or maintaining an open position on your account. If the account goes inactive, an inactivity fee may be applied to the account at some stage in the future and in accordance with the designated currency of the account. Compared to other brokers, the higher spreads is not a concerning factor, one can opt for FXPesa for the ease of trading at transparent cost that they provide.
The Demo Account is for beginner traders where you can gain trading experience. There are many advantages of the Demo accounts. These are just like live accounts with real market pricing, and unlimited usage, access to the MT4, mobile apps and Webtrader platforms. Note: The trading conditions in the live market may be different from demo, forex trading platform kenya.
FXPesa offers Standard account. FXPesa has somewhat limited trading instruments apart from forex compared to other brokers. Let us look at them header wise:, forex trading platform kenya.
The range of instruments EGM Securities provides is way less than its competitors like XM or Hotforex. Forex: FXPesa has 66 currency pairs available for trading to Kenyan traders, including 7 major pairs, 21 minor pairs and 38 exotic pairs on offer.
CFDs on Indices: There are 12 global Indices available. All the information like fixed leverage, forex trading platform kenya size, commission, trading hours is available along with the holiday schedule on their website. CFDs on Commodities: FXPesa offers CFD trading on 8 commodities including Gold, Silver, Oil and Platinum.
Share CFDs: They have a wide variety of US, UK and European shares available as CFDs on their platform. FXPesa Mobile: FXPesa Mobile is the mobile-based trading. It is available on both Android forex trading platform kenya iOS, making it a good muli device experience. Through your mobile, you can go to MyFXPesa account management portal for trading a range of products and services. FXPesa Web Trader: This is a web-based trading platform. It does not require any downloading and installing and gives instant access to your account.
The market analysis can be done on web based chart with the technical indicators and drawing tools. MyFXPesa: This is the comprehensive account management portal, which can be accessed from both FXPesa Trader and FXPesa Mobile. One can access their trading statements, fund their account with their preferred payment partners and set the account as per requirement. MT4: MT4 is the most popular trading platform across the globe for online forex trading. FXPesa also has MT4 platform.
This has multiple functionalities and quick and stable environment forex trading platform kenya trading. MT4 makes online trading experience an easy experience.
MT4 forex trading platform kenya automated trading and signals, advance charting tools, research and analysis tools and multi-device supports. They do not have MT5 trading platform as of yet. Get FXPesa Bonus. We tested their live chat during normal business hours. Their Kenya based Live chat is available during normal business hours. We tested it 3 different timesand found there was a hold time of few minutes, which was higher on weekend.
Although the chat responses were slow, but they were accurate for our questions that we asked. We asked questions about their brokerage model NDD or market makertheir EURUSD spread, is any any commission etc.
Email Support: Our first email was answered within under 1 hour during day time. When we asked them queries over emails, there was an auto response generated and then the query was answered will full details within few hours. Phone: They have a Kenyan phone number i. We did not test their phone support for this review. Apart from this, there is a FAQ section where some of the queries are answered, forex trading platform kenya. Overall, we find their support to be fair.
The number of instruments to trade with are not bad. Support is fair, and education section for learning the basics of trading adds to the advantage of trading with FXPesa. The downsides are the higher spreads for the Forex pairs and the high minimum deposit amount. We feel this could have been lesser since the whole idea for FXPesa was to give easy access to the smaller retail investors. See the summary of all the reviews about FXPesa.
We value transparency, forex trading platform kenya, so if you have experience with this broker then please share it with other readers. FXPesa Review FXPesa is a popular FX trading platform in Kenya that is regulated with CMA. Regulated By: Capital Markets Authority of Kenya CMA. Headquarters: 12th floor, Tower 2, Delta Corner Towers, Waiyaki Way, forex trading platform kenya, Westlands, Nairobi. Foundation Year: Submit your Review.
We have more assets to trade, and have lowered fees with great customer care. Ranked 1 of 8 Forex Brokers in Kenya. Visit Broker. Read and Write user Reviews. Note: We may earn a commission forex trading platform kenya you decide to sign up with the broker via the referral links in this review.
Thanks for your support. FXPesa Kenya.
Best Forex Brokers In Kenya 2020 (Beginners Guide) - blogger.com
, time: 4:13Forex Trading in Kenya for Beginners (Complete Guide) - TradeForexKenya
6. · FX Empire’s top picks for the best forex brokers in Kenya. We evaluated online brokers for their regulations, trading platforms, customer service, 4. · In Kenya, forex brokers can offer two types of spreads: fixed and variable spreads. The best forex broker with low fixed spreads is AvaTrade. FX traders can trade the major currency pairs enjoying spreads as low as pips. On the other hand, Pepperstone offers the 2. 1. · Welcome to Forex trading Kenya! The foreign currency trading market, also known as the Forex market, is the largest singular trading environment in the world blogger.com is estimated that at least $4 trillion are changing hands every day, much larger than any other trading market. In the not so distant past, only large companies, governments, banks, and hedge fund managers were allowed to trade
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