Overview
Forex trading is considered as one of the most lucrative online business and activities in the world. Forex trading in countries across Africa are showing increased emergence into the forex market and Kenya is no exception.
One of the main reasons why many Kenyans are entering the forex market is due to international brokers offering their services to countries in Africa, unregulated and regulated.
Kenyan traders are urged to only use the services of regulated brokers to ensure that the safety of their funds is not compromised in any way.
The following list of international brokers that accept Kenyan traders should help traders in identifying a regulated, reputable broker that can cater for their individual trading needs and objectives.
IG
IG is a multi-regulated STP, ECN, and DMA broker which has been in operation since 1974, offering traders around the world with comprehensive trading solutions. Traders have access to a variety of financial instruments which can be traded through several powerful trading platforms.
Pros and Cons
| PROS | CONS |
| Multi-regulated | Limited online payment processors |
| Variety of trading platforms offered | |
| More than 16,000 financial instruments | |
| Tight spreads, low commissions | |
| Variety of trading tools |
XTB
XTB has been operating since 2004 and offers Kenyan traders with superior trade execution through reliable and award-winning trading platforms, a variety of tradable financial instruments, trading tools, education, and dedicated customer support.
Cons
| PROS | CONS |
| Tight spreads | US clients not allowed |
| Strictly regulated | Fixed spreads not offered |
| Award-winning trading platforms | Limited exotic forex pairs offered |
| Dedicated personal account manager | |
| Trading academy |
eToro
eToro is a popular and reputable broker along with being the leading online social trading platform. eToro offers flexible methods for investing in a wide array of assets and copying other traders.
When trading with eToro, Kenyan traders have access to an intuitive platform and a variety of analytical tools, amidst numerous other features.
Cons
| PROS | CONS |
| Strict regulation | US Clients not accepted |
| Commission-free trading | Limited leverage for retail traders |
| Large online trading community | Fixed spreads not offered |
| Proprietary trading platform | Metatrader not offered |
| Popular investor programme offered |
Forex.com
Forex.com is a popular and reputable online trading broker which has regulation with multiple reputable entities. Kenyan traders have access to more than 300 financial instruments which can be traded using Forex.com’s competitive trading conditions.
Cons
| PROS | CONS |
| Strictly regulated | Fixed spreads not offered |
| Commission-free trading accounts | Limited payment methods |
| DMA Accounts | |
| US Clients accepted | |
| Execution scorecard |
AvaTrade
AvaTrade is a popular and award-winning broker that connects Kenyan traders to global markets. Traders have access to more than 250 financial instruments which can be traded through powerful, reliable trading platforms.
With offices in numerous jurisdictions, AvaTrade offers its trading solutions and services to numerous traders around the world. Kenyan traders can expect competitive trading conditions, multilingual support which is available 24/5, and some of the best trading solutions.
Cons
| PROS | CONS |
| Strict regulations | US Clients not accepted |
| Negative balance protection | Variable spreads not offered |
| Award-winning broker | |
| Fast trade execution speeds | |
| Fixed spreads |
Open a FREE Trading Account – Click here
Image Credit: Supplied
