5 rows · 17/03/ · 5 Most Successful Forex Traders in Kenya. Below are the 5 most successful forex traders 01/06/ · Obegi is one of the best Forex trader in Kenya and heads a Kenyan company called Meta Capital Limited. As he gradually went through the trading career Obegi developed an Best Forex Traders In Kenya 1. Ken Githaiga Ask around for influential individuals in the Kenyan forex trading space, and you must hear the name “Ken Githaiga.” He is a trained 19/01/ · Here are five of the best Kenyan forex influencers that you can follow: 1. Patrick Mahinge 2. Ken Githaiga 3. Paul Mugenda 4. Silah Obegi 5. Sylvia Muchai Net Assets of 5 rows · 17/02/ · Here’s our list of best forex brokers for Kenyan traders: FXPesa – Best Forex Broker in ... read more
However, getting any success in this endeavour is not easy — one can blow up their account in a matter of a second without proper financial knowledge and risk management. One way new traders can learn is to learn about reliable forex signals from the best.
Patrick Mahinge is the founder of Kenya Forex Firm, which provides training and portfolio management services for forex traders in Kenya. He also works as an online blogger and a serial entrepreneur, building new businesses from home.
He started trading on the forex market on the advice of a friend and has since grown into a successful trader who also serves as a mentor for new traders via his Kenya Forex Firm.
Ken Githaiga has been trading on the forex market since leaving college in He is a self-taught trader and acquired all the knowledge he has from Google searches and YouTube videos. To him, forex trading is only a small part of his portfolio, and he does not view it as his full-time job. He also helps educate new forex traders through his Jay Forex Academy and works as an accountant. He is also a forex broker for Hotforex.
Paul Mugenda is the founder of Paris Fx Kenya, which trains newcomers on how to trade binary options. He also provides mentorship seminars for young people and currently prefers to trade in binary options. Obegi is the Founder and CEO of Meta Capital Limited, a finance company that offers trading solutions for Kenyan forex traders. He is also the founder of Nairobi School of Forex, one of the biggest forex trading schools in Kenya. He holds a Bachelor of Business Management from Moi University and has used the information that he gained in school to get started with forex trading in She has since become one of the most successful traders in the country through teaching herself how to trade more efficiently.
This includes reading books, attending seminars, and opening demo accounts. Today, she is keen to help forex newcomers learn from the basics, regardless of if they have prior trading experience or not.
These traders will help give you the motivation that you need to get started with forex trading. They can also serve as inspiration during your trading journey as you work to be as successful with forex trading as they have been.
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Last Updated: February 17, There are estimated to be around 90, active forex traders in Kenya and this number is growing. For this, it is very important to choose a broker that is regulated with local Kenyan Regulator CMA or reputed international regulators like FCA, FSCA, CySEC or ASIC.
We have compared and listed brokers that matched our criteria for regulation, reputation, security, fees for Kenyan traders.
Now we will explore the detailed features of each broker in our list, one by one, starting from Hotforex. They are authorized by CMA of Kenya which is the local regulatory body , so we consider them as a safe broker for traders in Kenya. FXPesa is a non-dealing desk NDD broker, which means that there is no conflict of interest. They provide market execution of trades with all their trading account.
FXPesa are a MetaTrader 4 offering broker, and latest MT5 or cTrader is not available with them. But they have their own platform which is available on all devices. They offer funding in USD as well as in Kenyan Shilling KSh. via local bank transfer. But the account currency will be in USD. HotForex is our recommend forex broker for Kenyan traders.
HotForex is regulated by CMA as a Non-dealing online forex broker with license no. This makes HotForex a low risk forex broker for traders in Kenya. In terms of fees, they charge a low spread i. For low spreads, traders can open open Zero account with which the spreads start from 0 pips.
The commission per lot with this account is Kes. Only a few brokers offer this feature. They use the payment gateway Dusupay on their website, and the minimum deposit is Kes. They also have a local office with address in Nairobi on their website. They also have local phone no. They are well regulated under multiple Top-Tier regulators including FCA, FSCA, CySEC, so we consider them a safe broker.
Exness offers features like excellent support, low spreads, education through tutorials, strategies and free analysis tools. Exness provides services for two types of accounts — Standard and Professional.
The maximum leverage offered for both accounts is One of the major benefits with Exness is they have very low spread compared to most other competing brokers. Account types available help both newbies and pro traders. Other benefits include readily available support, fast executions, daily market reports, support from Expert advisors and meta trader plugin supports. There are more than instruments to choose from including forex, CFDs on precious metals, energy and indices.
Their fees is lowest with their Ultra Low account. Their trading accounts are quite straightforward. XM provides four account options. For Standard and Micro account, the required minimum deposit amount is 5 USD and gives a maximum leverage of For XM Ultra Low account, the required minimum deposit amount is 50 USD with similar leverage. Plus they have free access to forex market education including their research, forex webinars, video tutorials and free daily technical analysis that is available to all their customers.
Plus, they accept M-Pesa for account funding. Available Platforms: Metatrader 4 and Metatrader 5 for desktop and mobile and WebTrader. The parent company of FXTM, Exinity Group Exinity Capital East Africa is regulated by CMA, so it is considered a safe forex broker to trade with for Kenyan traders. FXTM offers two broad account options — Standard and ECN, both accounts having further sub-account types. Both accounts come with a maximum leverage of upto Additional benefits include in-depth market analysis, tutorials through webinars and seminars.
Additionally, FXTM also supports trading in Cryptocurrency. Scope markets SCFM Limited was the second forex broker that was granted license by CMA in It is considered a low risk forex broker for Kenyan traders because of their regulated by CMA.
The Silver account is a standard account type with no commissions, but their average fees is quite high i. Their support is decent. There are some points that you must check in a broker before you choose them.
Below is our points checklist that you can use an a guideline:. Regulated brokers can be held accountable for any bad practises like stop hunting, trading againt customers etc. But when you are trading with an unregulated broker there will be no Grievance Redressal in case the broker commits a fraud against you.
There are 6 forex brokers regulated by CMA as of Feb. They normally update the list every month. For ex. FXPesa is regulated for offering Forex Trading as Non-Dealing FX broker under License no. The above example is the Regulation and Client Protection document as FXPesa which highlights their company name, Company Registration No.
Some brokers may tell you that their spread is low, but may not tell the fact that they charge commission per trade or charge fees during withdrawals.
Some forex brokers like FXTM charge withdrawal fees with some of their methods. During our tests we found that their overall fees is quite competitive. They have competitive spread from 1. Also there is no inactivity fees. Ask your forex broker about their overall fees.
Most brokers will have a spread comparison table on their website. Is the instrument that you want to trade available or not? For example, you might want to trade CFDs on NASDAQ Many other forex brokers like Exness, FXTM, Hotforex etc. offer wide range of trading instruments.
But if thee is some specific instrument that you want to trade, then always check first if that is available with the broker. Ensure that these methods are available at the forex broker you are choosing. This below comparison table shows the average withdrawal time for different methods available at FxPesa. Similarly all other regulated brokers will have similar page on their website.
But there are no extra charges for withdrawal in Bank account in Kenya, and Mobile Money like MPesa. It could be related to any issue from withdrawals, to general queries. We tested it by contacting different brokers via various support channels. on their website. They are regulated with CMA, and they have have listed the Kenyan contact details on their website. or by sending an email. See how good the broker is in responding to your questions. There are 4 CMA licensed brokers in Kenya currently.
EGM Securities FXPesa is 1 in our list of recommended forex broker for Kenya. Scope Markets is a new Kenyan broker which stated its operations since May There are only a handful of forex brokers regulated by CMA, but traders in Kenya should only choose brokers regulated locally with CMA for safety of your funds. Or choose any reputed foreign brokers like Hotforex, XM Forex which are regulated with top-tier regulators like FCA, ASIC, CySEC. What are the best forex trading platforms in Kenya?
All the popular brokers like Hotforex , Forextime provide trading on these two platforms with additional support for WebTrader and mobile devices. Both these platforms have features of fundamental and technical analysis tools, copy trading and other additional features.
Online forex trading is legal in Kenya, and is regulated by Kenyan financial regulator CMA i. Capital Markets Authority CMA of Kenya. It was founded under Capital Markets Act There are 4 Forex Brokers in Kenya regulated by CMA as of December As per law, the brokers offering their services in Kenya are required to be regulated under CMA, which was done in order to safeguard the investors from fraudulent schemes and misconducts.
In , stricter regulations were passed in which CMA had to strictly oversee online forex business in Kenya. Capital Markets Online Foreign Exchange Trading Regulation required organizations to register under CMA. But currently the market is limited to only 4 local providers i. Which Forex Broker in Kenya has the lowest minimum deposit? HotForex has a minimum deposit of Kes. TradeForexKenya Editor Last Updated: February 17, Leverage Available Instruments Visit.
There is currently no regulatory framework prohibiting nor guiding online forex trading in Kenya. The Capital Markets Authority (CMA), the Kenya’s financial watchdog, is going to provide a 19/01/ · Here are five of the best Kenyan forex influencers that you can follow: 1. Patrick Mahinge 2. Ken Githaiga 3. Paul Mugenda 4. Silah Obegi 5. Sylvia Muchai Net Assets of 5 rows · 17/03/ · 5 Most Successful Forex Traders in Kenya. Below are the 5 most successful forex traders 5 rows · 17/02/ · Here’s our list of best forex brokers for Kenyan traders: FXPesa – Best Forex Broker in 31/08/ · Welcome To Abissons Traders Official YouTube Channel Where We Make Trading Simple For You. If you don't have a Reliable Trading Account then REGISTER here 👇 01/06/ · Obegi is one of the best Forex trader in Kenya and heads a Kenyan company called Meta Capital Limited. As he gradually went through the trading career Obegi developed an ... read more
All the popular brokers like Hotforex , Forextime provide trading on these two platforms with additional support for WebTrader and mobile devices. Axiory 4. They offer funding in USD as well as in Kenyan Shilling KSh. Forex Trading Platforms. Let's say buy rate for 1 USD would be Ksh. Finishing the university he decided to pursue a career in finances. Surprisingly, the same friend was generous enough to provide Mugenda with another loan, and took the time to sit down and explain all of the factors connected to the trade, making Mugenda more prepared and equip.He began trading forex inand 3 years later, inbest forex traders in kenya, he launched his own forex trading company. Forex trading is trading in different currency pairs with the aim to earn profit from the difference in the value of the currency pair due to market movements. Telegram Subscribe. GET YOUR BONUS. Click here to visit IronFX ».