2021 Guide to investing in Stocks, Shares, CFD's, Cryptocurrencies, Commodities and more in Kenya
This guide to the reputable trading platforms in Kenya has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
This review contains the most recent details about finding the most professional broker in Kenya.
If you are a new entrant into the world of trading and brokerage, so many facts will be confusing for you. Getting into the world of trading demands expert analyzing skills and comprehensive knowledge. You'll acquire adept skills at all the concepts of brokerage as you continue trading. For starters, you need to select the perfect agent in Kenya who'll be transparent with you constantly.
In this fast-paced universe of stock markets and trading, you will need advice to make correct decisions. A professionally lead investment program is key to your success.
We currently have 21 Brokers from our research that we believe are the Top Online Brokers in Kenya
Who’s The Top Kenya Brokers?
This review has been provided to help you find an experienced Kenya broker. When searching for a good, reliable broker in Kenya it can be a little confusing. Below we show what your trading platform are in Kenya and what Kenya brokers can provide you.
We currently have 21 Brokers from our research that we believe are the Top Trading Patforms in Kenya
|EagleFX||eOption||City Credit Capital||Vanguard Investments||Ustocktrade||Skilling||VTB 24 Bank||Plus500||Ayondo||Evolution Brokers||Betterment||Deltastock||IronFX||Admiral Markets||Ayrex||Boston Merchant Financial||Zerodha||Choicetrade||HDFC Securities||Alfa Financials||Hargreaves Lansdown|
|Find Out More|
|Headquarters||Dominica||USA||UK||United States||United States||Cyprus||Russia||Israel||London||Belize||USA||Bulgaria||Cyprus||UK||Cyprus||Dubai||India||United States||India||UAE||UK|
|Regulated By||Unregulated||Unregulated||Financial Conduct Authority (FCA)||Office of the Comptroller of the Currency||Securities and Exchange Commission (SEC)||Cyprus Securities and Exchange Commission (CySEC), CIF license number 357/18, Financial Services Authority (FSA) under license No. SD042||Unregulated||Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546||Financial Conduct Authority (FCA)||Cyprus Securities and Exchange Commission (CySEC)||Unregulated||Securities and Futures Commission (SFC)||Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC)||Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC)||Cyprus Securities and Exchange Commission (CySEC)||Australian Securities and Investment Commission (ASIC)||Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange||Unregulated||Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange||Financial Conduct Authority (FCA)||Financial Conduct Authority (FCA)|
|Risk Warning||Your capital is at risk||Your capital is at risk||Losses can exceed deposits||Your capital is at risk||Your capital is at risk||CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor||Your capital is at risk||76.4% 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.||Losses can exceed deposits||Your capital is at risk||Your capital is at risk||Losses can exceed deposits||Your capital is at risk||Losses can exceed deposits||Your capital is at risk||Losses can exceed deposits||Your capital is at risk||Your capital is at risk||Your capital is at risk||Your capital is at risk||Losses can exceed deposits|
|CFD Fees||Yes||Yes||No||Yes||No||Yes||No||No||No||Yes (0.1%)|
|Accepts Credit Cards||Yes||Yes||No||No|
Online Stock Trading In Kenya
Trading investments in Kenya is highly regulated and considered very secure. However, as always, that any investment can go down as well as up, so your capital is in danger.
If you are just starting out with online trading then it's advised to get a demo account with a regulated agent so you are able to find out the strategies without the danger of losing money.
Live Forex Trading In Kenya
Forex is the liquid financial market in the world with a daily financial exchange turnover of more than $5 trillion (BIS statistics April 2016).
Forex (short for Foreign Exchange) is a money exchange involving two different countries and the following management of the resulting position in which one currency gains and the other loses.
It's easy to do Live Forex Trading in Kenya using seasoned online agents
Live CFD Trading In KenyaCFD trading is the selling and buying of contracts for difference via an online agent in Kenya. When trading CFDs you are entering into an agreement to exchange the difference in the price of an asset from the point at which the contract is opened to when it is closed.
Spread Betting In Kenya
Spread Betting in Kenya is possible using experienced online brokers like XTM or 101Investing. It is a simple bet as to whether the price will go up or down. Usually, the Kenya trading platforms will display the prices you have.
If you are looking at how to do spread betting in Kenya then it is suggested to start with a demo account with either XTM or Trading212 so that you can practice with monopoly money before risking your own capital.
Trading Forex in Kenya
Internationally, Kenya is considered safe to do online trading and has access to other global financial centers. In Kenya, online brokers are highly regulated, professional and customer centric.
However, it is always important to be as informed as possible so below are some of the important things a trader should know:
The financial industry in Kenya are professional and are seen are trustworthy due to regulation and compliance by the local Fiancial trade authority in Kenya.
The online trading solutions used by brokers in Kenya are extensively tested and highly rated & secure.
Whichever Online Trading Platforms in Kenya you decide to use, ensure they have all of the below:
- Easy to use platform
- Access to a risk management tool
- Good or fast execution speed
- Better quality charts
- Capable of doing social trading
- Professional online help or support
Challenges Of Trading Online in Kenya
The US Dollar is considered the base currency globally so even a slight change in the US financial markets can affect the economic markets in Kenya. The EU is also a large economy and changes there may affect the economic markets in Kenya.
Like all countries there are challenges in Kenya financial markets but overall the outlook is positive. However, like in all global economic markets we recommend that any Online Trading Platforms in Kenya you decide to use, make sure you do your due diligence first before risking your money. We have collated hundreds of datapoints and written this guide to help you find the Best Trading Platforms in Kenya. We hope that by using this guide you will find a professional broker that matches your needs.
Frequently Asked Questions About Trading Forex In Kenya
Is Forex Trading Legal In Kenya?
There is a growing misconception that trading Forex in Kenya is deemed unsafe. This is not the case, Forex trading in Kenya is very active, regulated and safe.
Trading in Forex is permitted in Kenya as for any company to trade internationally, foreign currency must be exchanged. Any time you purchase something and it's sent from overseas, there'll be numerous currency exchanges by multiple companies to receive that thing to you.
The main thing is that if trading Forex in Kenya you pick one of the top online agents.
Do Forex Traders Pay Tax In Kenya?
After a trader is successful and their profits reach a certain level then they can be taxed in Kenya as per the typical taxation rules.
Tax returns should always be filed even if there's a loss. You should seek out advice with a documented accountant in Kenya to make certain you are abiding with present local laws as it's very dependent on your personal circumstances.
Can You Trade Cryptocurrencies In Kenya?
Cryptocurrency markets in Kenya are quite new. As Cryptocurrencies operate on decentralised assets in Kenya things like interest rate changes and political instability don't affect them as much as the money markets.
Cryptocurrencies are more popular with the younger generations and with growing income levels and technology adoption, trading cryptocurrency in Kenya is increasing day by day. It is still small compared to the Forex markets but around $6 billion USD of Bitcoin is traded daily.
Can You Trade Commodities In Kenya?
Commodities trading in Kenya includes trading in things like precious metals, energies and agricultural commodities.
Some products such as agricultural are seeing exponential growth inKenya.
Fast growing economies like India have a significant demand for many fundamental raw materials because of their population. It follows that states like Kenya can benefit from this circumstance.