Forex trading apps in kenya

Here’s a breakdown of the top 10 best stock trading apps in kenya:

XM – best overall stock trading app in kenya.
Hotforex – most trusted stock trading app.
Etoro – best app for stock copy trading.
IQ option – ideal app for beginner stock traders.
Olymp trade – best online stock trading app experience.
IC markets – best stock trading app with lowest spreads.
Octafx – award winning international stock trading app.
Expertoption– best app for everyday stock investors.
Alpari – great app for dedicated stock traders.
FXTM – best app for online stock trading.

Best Stock Trading Apps In Kenya 2021 (Top 10), forex trading apps in kenya.

Best stock trading apps in kenya 2021 (top 10)

Finding the best stock market app as a kenyan investor can be a difficult process. Most especially getting the ones that accept kenyan stock traders and would let you trade stocks on your ios or android device. Don’t worry, we’ve got you covered!

We’ve listed the top best stock investment apps that would let you as a kenyan stock trader, trade growth stocks, tech stocks, small-cap, mid-cap and large-cap stocks.

Here’s a breakdown of the top 10 best stock trading apps in kenya:

XM – best overall stock trading app in kenya.

Hotforex – most trusted stock trading app.

Etoro – best app for stock copy trading.

IQ option – ideal app for beginner stock traders.

Olymp trade – best online stock trading app experience.

IC markets – best stock trading app with lowest spreads.

Octafx – award winning international stock trading app.

Expertoption– best app for everyday stock investors.

Alpari – great app for dedicated stock traders.

FXTM – best app for online stock trading.

Best stock trading apps in kenya video

Below is the list of all the best stock investment apps that accept kenyan traders. We’ve also included the pros & cons of each of the stock trading apps with links to download them on your device.

7 unbelievably best forex trading apps in kenya

A trading app or platform refers to the interface/software that traders use to connect and trade the global forex market. Among the most popular forex trading apps includes MT4, MT5, webtrader and ctrader.

Every forex broker that’s worth their salt will offer one or even all of the above choices of trading apps. However, what I have realized in my 6+ years of actively trading the market is that the trading platforms differ greatly among brokers.

So, with that in mind, here is a list of the best forex trading apps for kenyans.

Forex broker	main features	our score
top pick	first CMA licensed forex broker in kenya.

Easy to register and start trading

Superb customer service

Locally available with offices in nairobi

Spreads as low as 0.0 pips

Instant mpesa deposits and withdrawals

Fast trade executions with no requotes

Deposits as low as $1

Offers instant mpesa deposits and withdrawals

Leverage up to 1:2000 for maximum profits

Huge deposit bonuses up to 50% of your deposit

Offers instant mpesa deposits and withdrawals

Leverage up to 1:2000 for maximum profits

Detailed reviews for the best trading apps in kenya

1. Fxpesa – best trading app for beginners

If you’re a beginner forex trader, fxpesa by EGM securities is probably the best forex trading app you can join. The registration is hassle-free, the support is out of this world, and the broker even offers you a chance to go for classes and seminars that they organize across the country.

You can join my free forex trading newsletter to be informed whenever fxpesa is conducting seminars and classes across the country. Click here to join.

What makes fxpesa even more attractive to forex traders in kenya is the deposits and withdrawal methods that they offer. You can easily fund your account and withdraw your profits using local payment methods including mpesa, airtel money, and equity bank’s eazzypay.

Additionally, the minimum deposit at fxpesa is as low as $5 (ksh 500). This gives a chance for anyone interested in online forex trading to sample out the markets without investing too much of their capital. From there, you can decide whether online forex trading is the thing for you or not.

Fxpesa also offers a demo account that you can use to practice and perfect your forex trading strategies.

Fxpesa offers fxpesa mobile apps for both android and ios. They also have the MT4 platform for traders who want to trade forex on their laptops or desktop computers.

And just in case you were wondering whether fxpesa is legit, the answer is a resounding yes. Fxpesa was the first broker to obtain a non-dealing desk trading license from the capital markets authority (CMA). The broker obtained its trading license in 2019 and there has been few to zero complaints about the broker ever since.

2. Liteforex – best ECN trading app in kenya

ECN stands for electronic communications network.

ECN forex brokers like liteforex get their price quotations from a network of computers, meaning that you have a 99% chance of catching trades with very tight spreads. Your trades are passed directly to liquidity providers, leaving the broker little to no chance of manipulating the spread.

Instead of paying the spread, however, liteforex charges a commission of $10 per round lot on all the major currencies. While this commission might seem prohibitive, a deeper analysis will tell you that it is actually among the lowest commission on ECN accounts in the industry.

A commission of $10 per round lot means that you’re paying $10 to control a trade size of $100,000.

This is among the lowest commissions offered by ECN forex brokers, which is why we rank liteforex among the best forex trading platforms in kenya. If you trade using the minimum lot size of 0.01 lots for this account, you will only be paying fractional cents to open and close trades.

Apart from the tighter spreads and low commissions, liteforex also guarantees of fast execution on trades with zero requotes whatsoever. Additionally, any capital you leave untouched in your liteforex trading account earns an annual interest of 2.5%.

Liteforex is also one of the few brokers that offer forex trading in kenya using mpesa. For the ECN account, the minimum deposit is $50. Deposits and withdrawals using mpesa are instant.

To cap it off, liteforex has a copy trading platform that let’s copy trades of the most successful traders on the platform. With enough due diligence, you can ensure maximum profitably on liteforex by copying other traders. Click here to open an account now.

3. Hotforex – best trading app for copy trading

We included hotforex in the list of the best trading apps in kenya because of their superb copy trading platform. In all the research that we did, no other platform came close to the ease with which hfcopy, hotforex’s proprietary trading platform works.

Hotforex is among the few international forex brokers that still accept mpesa deposits and withdrawals. The minimum deposit with mpesa is only a thousand shillings, which is quite affordable for most traders.

Additionally, both deposits and withdrawals by mpesa are instantaneous, taking less than 10 minutes to reflect in your accounts.

However, the reason why hotforex outshines other forex trading platforms must be their revolutionary copy trading platform that’s called hfcopy.

The hfcopy platform gives new traders a chance to improve their trading strategies and profits by following and interacting with more experienced traders.

In comparison with other copy trading platforms, hfcopy has a few wins including:

You retain full control of your trading account. Withdraw your funds whenever you desire

You can copy trades from more experienced traders automatically, therefore saving time and energy

You can copy more than one strategy provider and increase your profit margins.

4. Exness – best trading app for cent accounts

For intermediate forex traders who might not have sufficient capital but still want to feel like they are trading the real deal, nothing beats the exness standard cent account.

For this account, the minimum deposit is $1, with a recommended initial deposit of $50. The money reflects in your account as 100 units (100 cents). Depositing $10 will reflect as 1000 units. And depositing $50 will reflect as 5000.

With the exness cent account, you can use leverage up to 1:2000 which allows you to control a trade size of $2000 with only $1 in your account.

You can easily deposit into your exness trading account using mpesa and withdraw your profits using the same channel.

However, exness does not have an mpesa paybill number. To complete payment on exness using mpesa, you will have to log into your account and navigate to the mpesa deposit option.

After that, you will be redirected to a payment processor where you’ll enter your phone number and click on pay. Have your phone nearby as a pop-up will appear instructing you to put your mpesa pin number to complete payment. And that’ll be it. The money reflects into your exness trading account almost instantly.

5. XM forex- best trading app for intermediary traders

The XM forex trading app scores highly for intermediate forex traders in kenya. XM forex offers several platforms that you can use to trade. Top on the list is their MT4, MT5, and trading apps for both android and ios.

6. Olymp trade – best app for trading binary options in kenya

The olymp trade trading app is a binary options trading platform and is probably the easiest app to download and start tinkering around with the financial markets. You could literally download the app on your phone or tablet and start trading immediately.

Upon registration, traders are awarded a $10,000 demo account. The demo account gives you a feel of the trading platform and let’s you try out different trading strategies.

However, although you can practice trading with the demo account, any amounts earned through demo trading are not withdrawable. To be able to make withdrawals, you’ll need to deposit real money into the trading app.

The minimum deposit at olymp trade is $10. It is however recommended that you start trading with at least $50 (5,000/=). The best deposit and withdrawal options for kenyan traders is through a bank card, and I highly recommend the NCBA loop debit card.

Olymp trade has revolutionized the binary trading industry, and apart from their intuitive mobile trading app, they now also offer the MT4 trading platform for the more advanced traders.

7. IQ option trading app

IQ options started off as a binary options trading app but quickly transitioned into offering other tradeable financial instruments including stocks, forex, and cryptocurrencies.

IQ option has won many industry awards and received growing reviews from financial market analysts and enthusiasts. This is due to its reliability and professional services that it offers to traders all over the world. For these reasons, IQ options also makes it in our top 10 list of the best trading apps in kenya.

Compare brokers in kenya

For our kenya comparison, we found 23 brokers that are suitable and accept traders from united kingdom.

We found 23 broker accounts (out of 147) that are suitable for kenya.

Forex.Com

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About forex.Com

Platforms

Funding methods

69% of retail investor accounts lose money when trading cfds with this provider

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About IG

Platforms

Funding methods

76% of retail investor accounts lose money when trading spread bets and cfds with this provider

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About XTB

Platforms

Funding methods

82% of retail investor accounts lose money when trading cfds with this provider.

Avatrade

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About avatrade

Platforms

Funding methods

79% of retail investor accounts lose money when trading cfds with this provider.

Plus500

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About plus500

Platforms

Funding methods

76.4% of retail CFD accounts lose money

Axitrader

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About axitrader

Platforms

Funding methods

68.5% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Etoro

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About etoro

Platforms

Funding methods

75% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money.

XM group

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About XM group

Platforms

Funding methods

78.04% of retail investors lose money when trading spread bets and cfds with this provider.

City index

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About city index

Platforms

Funding methods

72% of retail investor accounts lose money when trading cfds with this provider

Easymarkets

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About easymarkets

Platforms

Funding methods

83% of retail investor accounts lose money when trading cfds with this provider.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The ultimate guide to

Best online brokers for kenya

Kenya’s financial services sector dates back to the 1950’s, with the east african’s market-based economy commonly considered one of the economic, financial, commercial and logistics hub of east africa. With 79% of the country’s population of 52.1 million people currently under the age of 35, kenya is considered a “young” country.

The primary stock market in kenya is the nairobi securities exchange (NSE) founded in 1954, nairobi. In 2014, the NSE demutualised itself and self-listed. The NSE provides a basic listing service in stocks and stock derivatives. It also lists real estate investment trusts (reits) and exchange traded funds (etfs). The exchange also provides a market for trading kenyan government and corporate debt securities.

Bonds listed on the NSE include the M-akiba bond for retail buyers, a kenyan government issued bond aimed to raise money for infrastructure projects. Furthermore, the NSE lists green bonds that are a target to helping address risks and social impacts resulting from kenya’s exposure to climate change and environmental degradation.

The primary broad stock index for the nairobi securities exchange is the NSE ALL SHARE index that is a market cap weighted index which includes all the securities listed by NSE. Narrower blue chip indices include the NSE 20 share index and the NSE 25 share index. These are price weighted indices that respectively consist of the top 20 and 25 most actively traded stocks on the NSE.

Kenya’s national currency is the kenyan shilling (KES), which is issued and managed by the central bank of kenya (CBK). The shilling is further broken down into 100 smaller units known as cents. As of 2016, the bank for international settlements (BIS) did not rank the kenyan shilling among the top 35 most actively traded currencies. The KES also did not rank among the most popular currencies held as reserves by central banks in 2018, according to data from the international monetary fund (IMF) .

The primary kenyan financial sector regulator is the capital markets authority (CMA) of kenya that was formed in 1989 under the capital markets act. This regulator aims to help kenya’s capital market become a sound choice for investors and issuer through enforcing strict regulation, encouraging innovation and enhancing investor protections. Any forex broker or other financial institution operating in kenya needs to be authorised by the CMA.

How to trade in kenya

Relatively few reputable online forex brokers are situated or have offices in kenya, although traders living in kenya can deposit money for online trading using accounts with foreign brokers that will accept them as clients.

Most brokers provide a website and customer service in english. If accessing a broker’s website in a language other than english is important, then it is recommended that you ask in advance if that broker can cater for your language needs. Unfortunately, few foreign brokers offer language services in bantu swahili.

Remember also that any broker located outside of kenya should be regulated strictly in its local jurisdiction and ensure client funds are separate from its own in segregated accounts. Brokers should also have good general reputations with their clients, in addition to an acceptable range of products and services.

The majority of online forex brokers allow traders to practice and develop strategies by offering demo accounts that are funded with virtual money. Additionally, online brokers also offer funded accounts that require a minimum initial deposit before live trading begins. Also, some brokers offer sharia complaint accounts which have no swaps on rollovers.

The asset classes available to be traded through online brokers varies considerably between different brokers. The majority of online brokers offer some type of forex trading that encompasses the major currency pairs. Furthermore, contract for difference (CFD) trading is quite common outside of places such as the united states, and cfds typically allow for trading in a broader range of assets.

Moreover, regarding stock trading, the nairobi securities exchange (NSE) aims to provide fair and transparent markets throughout several asset classes, as well as in kenyan stocks. NSE trades are also generally executed in kenyan shillings, and live trading has taken place through the automated trading systems of the NSE since 2006.

Biggest opportunities of trading in kenya

Kenya’s urban areas, especially nairobi, are noted for their large number of educated english-speaking multi-lingual professionals, largely viewed as a positive attribute for foreigners looking to establish businesses there.

Kenya also provides a number of additional opportunities for businesses:

Mining – while kenya’s mineral resources are limited, the country is an important source of high value metals like gold and titanium.

Construction and real estate – according to the U.S department of commerce, construction and real estate make up some of the fastest growing sectors in kenya.

Technology – this is another sector that has seen considerable growth in the last decade. Kenya offers high internet access rates, including fast 4G and 4G LTE services, stimulating ecommerce and other internet-based services.

Tourism – kenya’s tourist arrivals increased by 12% in 2016, and the sector’s earnings increased by 17% to around USD $1 billion.

Overall, when it comes to obtaining credit, kenya achieved a ranking of 8 th among countries surveyed by the world bank . Kenya also ranked favourably at 11 th for protecting minority investors, and 61st in the general ease of doing business there.

Biggest challenges of trading in kenya

As a consistent net importer with negative balance of trade numbers since 1998, kenya’s economy may potentially suffer from trade disputes, tariffs and the failure of key trade agreements. Nevertheless, kenya’s relatively low ratio of trade to GDP of 37% would tend to mitigate its economy’s vulnerability to trade disruptions.

Moreover, the world bank ranked kenya rather low for dealing with construction permits, starting a business, registering property and trading across borders at 128 th , 126 th , 122 nd and 112 th respectively in those areas.

Summary

In summary, traders and businesses may well find kenya a challenging place to do business. Nevertheless, the country did rank well in 8 th place from the world bank on the ease of obtaining credit, as well as an overall 61 st overall ranking by the world bank for the ease of doing business.

While kenyan financial institutions receive oversight by kenya’s CMA, it is advisable to beware of frauds when trading online. Before deciding to choose an online broker to trade through, ensure that the broker offers a decent asset class range, are well regulated, have a good reputation and a fully functioning trading platform. Additionally, brokers should also provide a safe place to make a margin deposit by segregating its clients’ funds from their own.

Why choose forex.Com
for kenya?

Forex.Com scored best in our review of the top brokers for kenya, which takes into account 120+ factors across eight categories. Here are some areas where forex.Com scored highly in:

19+ years in business

Offers 300+ instruments

A range of platform inc. MT4, web trader, ninjatrader, tablet & mobile apps

Forex.Com offers one way to tradeforex. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

Two best forex trading apps in kenya

What are the best forex trading apps in kenya? Forex is the largest financial market in the world with over $5.1 trillion traded on a single day. Because of its lucrative nature, there are thousands of forex trading companies seeking to get a share of this revenue.

Due to ever-rising competition, there is an increasing demand to tap the global market and many forex trading companies have added forex trading apps to their platforms. There are numerous forex trading apps and forex trading beginners in kenya can be overwhelmed when choosing the best forex trading app online.

In this review, I highlight 2 best forex trading apps in kenya in 2020.

The review is based on five features.

The best forex trading app must be easily accessible

An outstanding forex trading app must first of all be easily accessible worldwide and by both android and ios users. It can be frustrating when you’re seeking to trade forex on your preferred forex trading app and you realize the app is not accessible from your country or it’s only available for either android or ios users. A top forex trading app must therefore be accessible to all users worldwide irrespective of their location or mobile device. However, accessibility per country is determined by various financial regulations, and therefore, some of the providers of forex trading apps might not meet certain statutory requirements of a given country.

Best forex trading apps are super fast

One of the reasons why there is a shift from a web-based forex trading platform to forex trading apps is the need to boost the efficiency of a forex trading platform. Some web-based trading platforms are sluggish and this has a huge impact on forex trading activity. Forex trading requires a platform that is super fast with no room for bugs. Therefore, a superior forex trading app must be extremely fast; as fast as the speed of light.

Best forex trading apps online are easy to use (user-friendly)

Forex trading beginners have basic forex trading skills and the least they want is a complex trading platform. A user-friendly forex trading app is a must for both beginners and experienced forex traders. A user-friendly app is that which has easy navigation and makes it’s quite simple to make a trade, access assets, access statistics, make market analyses, or access trading news and education. Besides, the app’s platform should allow the user to access various sections concurrently without limit user experience and the trading speed/efficiency.

Best forex trading apps for beginners must offer a wide array of assets to choose from

Besides, the best forex trading apps offer a wide range of assets to choose from, for example, currency pairs, cryptocurrencies, stocks, oil, gold, etc to allow the user to make trades of their liking. Some bogus forex trading apps are so limiting. So, always be on the lookout for forex trading apps with limitless options.

Best forex trading apps for in 2020 must offer education resources and timely market updates

One other important feature of a premium forex trading app is that it offers its users access to education resources and timely market updates. Accesses to such resources are crucial to making profitable trading decisions.

With that said, here are the recommended best forex trading apps for beginners in 2020

IQ option

IQ option is available worldwide in most countries and accepts both android and ios users.

The countries in which IQ option is unavailable, are australia, USA, belgium, canada, iran, israel, japan, latvia, north korea, pakistan, palestine, russia, sudan, syria, and turkey.

The app is super fast and user friendly and it gives users numerous assets to choose from as well as training materials and market alerts.

You can begin trading with deposits as little as a $10 and per trade investments can be as low as $1 with a profitability rate of up to 95%.

Get the IQ option forex trading app here:

Binomo

Binomo is available worldwide in most countries and accepts both android and ios users.

Traders cannot use binomo from canada, united states, australia, mali, austria, belgium, bulgaria, croatia, czech republic, denmark, estonia, finland, france, greece, hungary, ireland, italy, germany, laos, lithuania, malta, netherlands, poland, portugal, romania, slovenia, slovakia, spain, norway, sweden, united kingdom, cyprus, switzerland, israel, singapore, hong kong, new zealand, iran, japan, russian federation, belarus.

Just like IQ option, the binomo app is super fast and user friendly and it gives users numerous assets to choose from as well as training materials and market alerts. The minimum deposit is $10.

Get the binomo forex trading app here:

10 best rated forex brokers in kenya

Here is a list of the best forex brokers for kenyan traders reviewed.

Interactive brokers

Interactive brokers is an award-winning broker based in the united states, which offers its services to countries around the world.

Clients of interactive brokers are granted access to six cutting-edge trading platforms, on which some of the most popular asset classes can be traded, including stocks, options, futures, currencies, bonds and funds.

The broker offers six tailored accounts, including the individual, joint trust, IRA and UGMA/UTMA accounts, which can be opened with a minimum deposit of $100 or equivalent, and provide tight spreads which start as low as 0.5 pips for major currency pairs.

XTB

XTB is a UK based broker which offers competitive trading conditions, with spreads that start as low as 0.35 pips and a high maximum leverage of 1:200.

Headquartered in london, XTB is well-regulated across a number of jurisdictions by reputable organisations such as the KNF, FCA, cysec and IFSC.

Clients of XTB can open a live trading account with a minimum deposit of $250 or equivalent, and receive access to an impressive range of over 1500 global markets.

Added to this, clients receive negative balance protection, and can execute profitable trades on the award-winning metatrader 4 platform.

CM trading

CM trading is a leading south african forex broker which has become very popular amongst traders throughout africa for its advanced selection of trading tools, complemented by a competitive trading environment that caters for both beginner and professional traders.

As such, clients of CM trading are afforded a high leverage of 1:400, which can be used to trade over 50 popular instruments including forex, indices, commodities and cfds.

In terms of its forex offering, CM trading provides access to over 28 currency pairs, which can be traded on tight spreads that start as low as 0.7 pips for EUR/USD.

Oanda

Oanda is a well-established forex broker which has been in operation since 1996, and offers services to clients across the globe.

Based in the united states, oanda is a metatrader 4 supported broker, providing clients with access to an advanced suite of trading tools, with leverage of 50:1, no minimum deposit, and exceptionally low trading fees.

OANDA’s wide selection of CFD products include stock index, bond, and commodity cfds. Leverage can also be set manually, a useful feature to lower the risk of a trade.

Oanda offers the ever popular metatrader4 trading platform, as well as proprietary trading software that features forex analysis, signals, and a number of advanced trading tools.

IG markets

IG markets is a global forex trading brand that offers tailored solutions to retail, institutional and professional traders.

Clients of IG markets have access to an impressive selection of over 17 000 markets, which can be traded using the advanced capabilities of the metatrader 4 trading platform.

While the broker’s leverage of 1:33 for forex is not the highest in the industry, clients can select from a range of live trading accounts with no minimum deposit, and trade on spreads that start as low as 0.6 pips for on EUR/USD currency pairs.

Exness

Exness is a cyprus based broker which offers clients tailored financial services and investment solutions.

Exness provides exceptionally competitive trading conditions, with a minimum deposit of just $1, a very high leverage of 1:2000, and spreads that start as low as 0.3 pips.

Clients of exness can enjoy these profitable trading conditions using the advanced trading capabilities of both the metatrader 4 and metatrader 5 trading platforms, with access to popular asset classes such as forex, metals, cryptocurrencies, energies and indices.

Regulated by both the financial conduct authority (FCA) and cyprus securities and exchange commission (cysec), exness provides a secure trading environment that caters to a variety of trading levels and strategies.

Forex.Com

Forex.Com is a well-regarded US forex broker that offers traders access to over 80 currency pairs for a low minimum deposit of $500, with spreads as low as 0.84 pips on the EUR/USD pair.

Established in 1999, the broker is regulated in six global jurisdictions, including the UK, canada, japan and australia.

The broker offers a high leverage of 1:200, with competitive pricing, fast execution and excellent customer support, with trading supported by metatrader 4 and 5, as well as the broker’s flagship proprietary advanced trading platform.

Plus500

Based in australia, plus500 is a leading forex broker in the industry today, particularly for its highly rated CFD trading apps which are available for both apple and android.

Plus500 offers clients a competitive trading environment, with spreads that start as low as at 0.6 pips for EUR/USD currency pairs, and a maximum leverage of 1:300.

For a minimum deposit of $100, clients can access the brokers single, integrated live trading account and gain access to the brokers award-winning trading platform.

Using this advanced software, traders have access to 2,000 cfds across the forex market, cryptocurrencies, commodities, equities and indices, etfs, and options markets.

Hotforex

Hotforex is an online commodities and forex broker based in cyprus, which offers tight spreads 0.1 for EUR/USD currency pairs and an exceptionally high leverage of 1:1000.

The broker offers prospective clients a wide selection of live trading accounts, which support eas, scalping, and hedging, and which can be opened with an impressively low minimum deposit of $5.

The broker’s advanced trading tools and competitive trading environment have garnered it over 35 industry awards, with its services offered to over two million clients around the world today.

Pepperstone

Pepperstone is an australian forex and multi-asset broker that offers 70 currency pairs for forex trading, as well as cfds, with a high maximum leverage of 1:500 and spreads that start at 0.13 pips for EUR/USD currency pairs.

The broker has become particularly popular for its rich selection of advanced trading platforms, including both metatrader 4 and metatrader 5, copy-trading software, and ctrader.

Prospective clients can choose from the commission-based razor account, or the standard account with commissions incorporated into the spread, both of which can be opened with a minimum deposit of AUD$200 or equivalent.

Best forex trading apps in kenya 2021 (top 10)

Finding the best online trading app as a kenyan can be a difficult process. Most especially getting the ones that accept kenyan forex traders and would let you download them on your android or ios device. Don’t worry, we’ve got you covered!

We’ve listed the top best online forex trading apps that would let you as a kenyan trader, trade forex and stocks.

Here’s a breakdown of the top 10 best forex trading apps in kenya:

XM – best overall forex trading app in kenya.

IQ option – ideal FX app for beginner traders.

Hotforex – most trusted forex trading app.

IC markets – best forex app with the lowest spreads.

FXTM – best forex app for online trading.

Octafx – award winning international forex app.

Alpari – ideal app for dedicated forex day traders.

Etoro – best app for forex copy trading.

Olymp trade – best reliable forex trading app.

Expertoption – best online forex trading app experience.

Best forex trading apps in kenya video

Below is the list of all the best forex trading apps that accept kenyan traders. We’ve also included the pros & cons of each of the forex trading apps with links to download them on your device.

A beginner’s guide to forex trading in kenya

Are you looking for information on how to start forex trading in kenya, then you are in luck! In this guide, we will explore how to go about forex trading and list the top five best forex trading sites in kenya.

The state of forex trading in kenya

Forex trading in kenya has become popular. It attracts a lot of interest from the public who are looking for ways to make money online. According to recent estimates, there are over 90,000 kenyan forex traders.

Previously, participation in the forex market was limited to the government, banks, and financial institutions only. However, for the past decade, retail traders have increased their involvement in the forex market with the rise of online forex trading in kenya.

Traders use online forex brokers to bet on the price developments of global currencies.

Unfortunately, man kenyan traders have lost money to scams and fraudulent actors who have infiltrated the forex space. This warranted the capital markets authority to create a framework to regulate online forex trading activities undertaken by retail or institutional traders.

Consequently, online foreign exchange trading regulations became effective in 2017. This opened the way for licensed forex companies to start providing their services in the country.

CMA approved forex brokers that work closely with the regulator to ensure trust, credibility, and transparency. In the event of any fraudulent practices, a trader can take legal recourse against a regulated forex broker in kenya. The same will not apply to unregulated forex brokers.

How to start forex trading in kenya

To begin forex trading in kenya you must find a reputable forex broker. Fortunately, there are a plethora of forex brokers available to local traders with some even integrating local payment options like MPESA to their platforms.

It is advisable to use forex brokers that are licensed and regulated by the CMA. Even though there are some foreign brokers that are not approved by the regulator providing forex trading services to kenyans, the CMA cautions against using these brokers, as they are not under the CMA’s purview. Therefore, it may be difficult for investors to seek redress in case of any irregularities by these brokers.

That being said, a trader can use a CMA regulated broker or opt for a reputable forex broker authorized by the CMA, and governed by at least two top tier regulators like FCA, cysec, ASIC, etc.

There are a number of factors that need to be considered before you choose a suitable broker. While regulation is key, other factors to consider include:

The minimum deposit allowed;

Financial instruments available;

Types of trading accounts;

Fees;

And payment options.

Depending on your requirements and match to a forex broker that meets your needs. Obviously, finding a broker that is available in kenya or accepts MPESA for payments can also a key factor.

Once you find a suitable forex broker you can proceed to open a trading account.

A trader can choose to open a live account or a demo account. The procedure for opening an account may vary from broker to broker, there are key steps that are standard across the board.

Once your account has been opened, you will have to complete know-your-customer (KYC) requirements. This may include personal information such as ID, email address, contact details, etc. At times, only upon verification of these details can you be allowed to trade using your account.

The next step will be to deposit funds using a payment method accepted by your broker. Remember, if you are using a live account you must ascertain the minimum deposit balance required by your broker. On the other hand, if you are using a demo account, you will be trading using dummy funds though the features will mirror that of a live account.

Once you have deposited money into your account you will need to download the broker’s trading platform. Some brokers will offer MT4/MT5 trading platforms while others will have their own proprietary platforms that can be downloaded on pcs, smartphones, and tablets. Ultimately, each of these platforms will be configurable to some degree.

How much do I need to start forex trading in kenya

How much do you really need to start trading forex in kenya? Actually, not a lot!

Interestingly, most brokers in kenya allow you to deposit as low as KES 100 ($1) and even lower in some cases.

However, traders are usually advised to place larger deposits to make it worthwhile. A number of brokers will recommend you start trading with at least KES 10,000 ($100) to make it financially feasible.

Forex trading companies in kenya

EGM securities (FX pesa)

EGM securities is the first forex broker to be licensed by the capital markets authority (CMA) in kenya. The nairobi-based forex broker powers the FX pesa platform that offers competitive spreads, innovative features, and floating leverage. The only forex broker supports 61 currency pairs with liquidity on the platform being provided by the world’s largest banks and liquidity providers.

To access the trading platform you need to register for an account. You can choose to sign up for a demo account or opt for a live account. A demo account will imitate the features of a live account but without the risk of trading using actual money.

Registration will require you to provide personal details including your full names, country of residence, and thereafter you will have to verify your account using a PIN sent to your mobile device.

The broker offers two types of accounts namely, executive and premiere. For as low as $200 you can start trading using an executive account. The account offers a spread of 1.6 pips per standard lot for EUR/USD and leverage of 1:400. There are no commission charges for this account.

In contrast, the minimum deposit for a premiere account is $5,000. The account charges a $7 commission fee. Normally the spread charged for a EUR/USD pair is 0.2 pips.

60+ currency pairs

$200 minimum deposit

Leverage 1:400

Spreads as low as 0.2 pips

MT4 trading platform

Demo account

Pepperstone

Pepperstone is CMA regulated forex broker. The online forex broker provides a customer rich experience with simple UI and superior features. Traders can download the metatrader 5 platform on their phone, tablet, or laptop and enjoy the customizable trading environment.

To begin trading on the platform you have to set up an account. Signing up requires you to provide personal information, trading preferences, income, employment, and agree to a declaration. Your account will have to be verified to complete the process. Alternatively, if you are new to forex trading you can sign up for a demo account.

The minimum deposit required is $150 and offers a leverage of 400:1. Moreover, pepperstone supports over 180 currency pairs.

180+ currency pairs

$150 minimum deposit

Leverage 400:1

Spread from 0.0 pips

MT4/MT5/ctrader platforms

Demo account

Android and ios app

MPESA payments

Hotforex

Hotforex is an FCA, FSCA, and FSA regulated forex and commodity broker. The broker provides both retail and institutional clients with forex trading services. You can trade over 50 currency pairs on any of the hotforex trading platforms.

Registration on hotforex is a relatively simple process. Click on the ‘open live account’ tab on the homepage and provide your personal details, residency, and email address. Next, review and accept the privacy terms and then click on the ‘register’ tab. You may have to provide additional details such as the preferred currency. Client type, and even create an investor profile. In addition, traders are required to upload certain documents to complete the account set up and verification process.

Hotforex offers up to six accounts to cater to the risk appetite of different clients.

50+ currency pairs

KES 1,000 minimum deposit

Leverage 1:1000

Spreads from 0 pips

MPESA payments

Demo account

12 trading platforms

Scope markets

Scope markets is a nairobi-based CMA licensed forex broker. If you are a new trader the platform has a rich knowledge base from whence they can learn the intricacies of forex trading. Moreover, you can sign up for a demo account to get a risk free start to forex trading.

You will need to sign up for a scope markets account to start trading. Signing up requires you to provide your personal details. Subsequently, you will have to upload certain documents and have them verified with compliance. At this point, your account is set up and you can fund your account to start trading.

40+ currency pairs

KES 2,000 minimum deposit

Leverage 1:500

Spreads from 1.1 pips

MPESA support

Demo account

MT5 trading platform

FXTM is a cyprus-based forex broker that is regulated by the FCA, FSCA, cysec, and CMA. The forex broker offers a wide range of trading instruments and provides in-depth material on how to trade the forex markets.

FXTM boasts over 2 million customers and operates in over 150 countries. The forex broker offers segregation of funds across all these regions for retail customers.

To start trading on FXTM you have to register for an account. Registration requires you to provide your personal information, country of residency, email address, and set a password. Proceed to click on the ‘send PIN’ tab to send the PIN via SMS or email. Enter the PIN in the adjacent field and click on ‘register now’.

Depending on your requirements you can select any of the three account types FXTM offers. A standard FXTM account has a $100 minimum balance, offers competitive spreads, and all-around offers. The cent account allows you to deposit as low as $10, with competitive spreads and smaller trade sizes. The ECN zero account requires you to deposit a minimum of $500, but charges no commissions, no requotes, and offers tight spreads.

55+ currency pairs

$10 minimum deposit

Leverage 1:2000

Spreads from 0.1 on EUR/USD

MT4/MT5 trading platforms

Forex trading is a risky endeavor. The complex nature of forex markets requires you to learn market analysis and accurately keep track of currency movements. Therefore, it is advisable to start trading using demo accounts.

Best forex broker in kenya

Online forex trading is fast becoming popular in kenya but so is the risk of falling victim to ponzi schemes. Kenya being a fairly new trading market as compared to south africa and nigeria, requires regulated forex brokers to support new and seasoned traders.

Globex360° is a leading global online trading provider allowing investors to trade in forex and cfds, indices, precious metals, energy and cryptocurrencies. Our state-of-the-art online trading platform (metatrader 4) provides complete quality assurance ensuring the best and most transparent online currency trading experience in kenya.

How to start with forex trading in kenya?

The key to get successful in forex trading is to get the timing right and make a profit based on the price movements. However, if you’re new to the field, the we recommend you to follow the steps mentioned below:

Consult the best forex trading broker in kenya.

Open a trading account for forex trading.

Make a deposit using the suggested payment method.

Download the broker’s forex trading platform on your computer, tablet or smartphone.

Start trading in forex.

The liquidity of the market has made it an attractive investment avenue for traders worldwide. As per BIS, the average tradition volume stands around $6.6 trillion per day over the globe.

Forex trading can be done 24-hours a day so investors enjoy high leverage in this market unlike the stock market. Talk to one of kenya’s best forex trading brokers to develop a workable trading strategy to yield good results.

How globex360 helps with A successful online forex trading experience in kenya?

Kenya’s forex trading market can be extremely rewarding with more than 70,000 forex traders estimated to be currently operating in the market. However, not every online forex trader is fortunate enough to enjoy high returns on investment and thus educating yourself of the risk factors gives you an advantage.

Volatile forex market that fluctuates at slight economic activity

High risk of leverage

Unreasonable high investment

Poor regulatory control

Having a globally recognized and experienced forex trading broker in kenya like globex360 helps traders make informed decisions to earn more than they are willing to invest.

One of the world’s best online forex trading platforms – metatrader 4

Powerful forex trading app for android and apple ios users.

Educational programs such as webinars and seminars

Flexible deposit options

Easy withdrawals with no fees charged

Global presence in south africa, botswana, nigeria, chile and australia

24*7 customer support

A forex broker with a welcome bonus helps you enjoy hassle-free online trading experience in kenya and many other parts of the world. Do let us know of your forex trading concerns so that we can help.

The first CMA licensed forex broker in kenya

We are kenya's first non-dealing online forex broker based in nairobi. We are authorised and regulated by the capital markets authority kenya. Through our group structure, we are part of a global business that can deliver individual, corporate and institutional services through our decentralised international offices.

Strong LP relationships

Big-data intelligence

Competitive NDD offering

CMA authorised and regulated

Our philosophy

We are a team of passionate brokers, tech evangelists and educators, proud of a heritage that hinges on innovation, transparency and service-excellence. We believe that trading should be an easy, safe and productive experience. Our offerings are an extension of this philosophy.

What EGM securities brings to kenya

We pride ourselves in delivering an unrivalled combination of best-in-class products
and expert support. Here are our top four competitive advantages.

Compliant with capital markets authority regulations

Liquidity from the world’s largest banks and liquidity providers

Dedicated account manager and 24/6 support

Segregated trust accounts with a local top-tier bank

Metatrader 4

Location and device agnostic, our MT4 platform offers multi-asset trading flexibility plus an advanced charting package as well as 30+ technical indicators.

Live prices

Prices may be delayed by 5 seconds. Prices above are subject to our website terms and conditions. Prices are indicative only.

Kenya trading products and services

Trade forex in kenya and access comprehensive product and service

Offerings across asset classes, regions and devices.

Forex

Precious metals

Partnerships

Trust is what you need when trading. We know how important it is to ensure the security and integrity of all your trading activity and your trust is of utmost value to us. We diligently work to meet the stringent standards set by the capital markets authority (CMA) in order to put our client's best interests at the centre of our business.

Margined forex and CFD trading are leveraged products and can result in losses that exceed deposits. The value of your contract can fall as well as rise, which could result in receiving back less than you originally deposited. Please ensure you understand the risks and be sure to manage your risk exposure effectively. EGM securities does not provide any investment advice.

EGM securities is the trading name of EGM securities limited (company registered no. PVT-AAAAFF7), which is authorised and regulated by the capital markets authority, with its company registered address at 12th floor, tower 2, delta corner towers, waiyaki way, westlands, nairobi.

Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure.

So, let's see, what we have: here's the list of the top best stock trading apps in kenya that accepts kenyan stock traders. They are the best stock apps for android and ios devices. At forex trading apps in kenya