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Home » Broker » 8 Most Successful Forex Traders in Kenya. As the online forex industry continues to gain popularity in Kenya , there are multiple investors who have emerged as leading forex traders in the country. These traders have not only proven that it is possible to trade profitably but also become wealthy from the global forex market in Kenya.

Kenya , is a country situated in Eastern Africa with a population of approximately 47 Million potential Forex Traders. Tourism in Kenya is the second-largest source of foreign exchange revenue following agriculture and currency exchange is not only legal, but essential for business to be conducted. The Most successful Forex traders in Kenya is also unique as the list features a female forex trader , a true rarity in the Forex World. Before he joined the ranks of the Best and most successful Forex traders in Kenya , Mugenda was a student living in relative poverty, enrolled in the Technical University of Kenya.

He was getting by with very little money given to him by his parents. Mugenda has always had an entrepreneurial mind and was able to develop some of his own hustles on the side in order to help him save some pocket money for personal use. Initially, Mugenda would buy tea in bulk, repackage them, and resell them to various passers-by. But, even with this extra income, Mugenda was struggling to make ends meet, with multiple financial responsibilities, such as his studies, needing his attention.

As a result, Mugenda decided to find a new source of income in the form of a traditional 8 to 5 job — as an insurance broker. Unfortunately, multiple days would pass before he was able to make a sale. At this point a friend introduced Mugenda to the world of forex trading , lending him the money needed to make a start. Unfortunately, Mugenda like many other beginner traders lacked the knowledge necessary to make smart investments and lost all of his invested money.

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. Within a few months, Mugenda was making a reasonable income from Forex trading and his wealth continues to accumulate.

Mugenda, a man in his twenties, has made headlines due to his rapid acquisition of wealth as a Forex trader. Mugenda is incredibly successful in the forex trading field and has gone above and beyond to create Paris FX — a Forex company which has gained significant profits in the past few years.

After he graduated from college, Githaiga was unsure of which direction he wanted to go in but decided that the traditional office job setting was definitely not the ideal choice for him. Through a simple Google search, Githaiga came across the concept of Forex trading.

Today, Forex is by no means his full-time job, taking up a very small portion of his day-to-day life. Githaiga gained most of his trading knowledge through self-education on the internet. Silah Obegi is a top Forex trader in Kenya whose success was found in a more traditional sense.

Obegi received a Bachelor of Business Management from Moi University, after which he worked his way up in the field of finances. Currently, Obegi is the C. at Meta Capital Limited. Throughout his experience within the financial fields, Obegi has been able to develop an automated Forex trading system which is unbelievably lucrative. Obegi is the Director of the Nairobi School of Forex, where he shares his knowledge of the Forex trading system and automated tools he developed.

Joshua Matumo is the founder and managing director of a company called Fourth street Consultants. Matumo began his trading career in at Strathmore University and specializes in trading currencies as well as commodities.

Joshua Matumo is known to be excellent when it comes to risk management and professional market analysis alike. Fourth street Consultants also offers consultations and comprehensive courses on Forex trading.

Kamau works as a banker aside from trading. Forex trading has allowed Kamau to earn an extra income alongside his traditional day job. Kamau is still seen as a newbie in Forex trading, but the progress made on the path of becoming one of the most famous Forex traders in Kenya is without a doubt amazing. For two years Sylvia found, read and learned as much as possible on how to become a successful forex trader in Kenya. Muchai signed up to multiple online trading courses, opened numerous demo accounts, and attended trading seminars both on and offline.

Patrick Mahinge can best be described as a serial webpreneur who started trading forex in Mahinge does not hold any academic qualifications in finance and studied Journalism at Egerton University.

Eight years ago, after failing to secure a formal employment, he started looking into online forex trading. Patrick Mahinge is the founder of the Kenya Forex Firm, which provides training and portfolio management services for potential forex traders situated in Kenya.

He also works as an online blogger and builds new businesses from home. Vincent Nyagaka is forex trader with over 6 years of experience in the field. He decided to venture into forex trading after his traditional income was not sufficient, purchasing online courses and learning as much as possible.

Nyagaka later founded Benstride where he teaches students on how to trade in Forex. He offers a free beginners forex course and a premium forex course on his site. In order to get started in the Forex Market is relatively easy and requires only a few steps.

With this being said, Beginner Traders need to keep in mind, signing up and knowing how the Forex Market works, is two completely different things. Firstly, a trader should invest in a modern device that has the ability to connect to internet. This will be used in order to trade. The device chosen can range from a smartphone or tablet to a laptop or desktop computer. Step two will be finding a reputable, regulated online forex broker which accepts clients from Kenya.

Luckily, there are multiple globally regulated Forex Brokerage firms available to choose from. Here is an overview of the 5 Best Forex Brokers who accept Kenyan Traders.

IG Group was founded in and is regulated by the Financial Conduct Authority FCA in the U. and the Australian Securities and Investment Commission ASIC in Australia. The country of a traders residency will determine which account type they can open.

In most countries, they will only be able to trade forex, CFDs and options. Saxo is a globally regulated, multi-asset class broker which offers traders the option to trade on more than 40, instruments covering Forex, CFDs, Stocks, Options, ETFs, Commodities, Futures, Bonds and Mutual Funds from a single account across multiple platforms including their own — SaxoTraderGO and professional-grade SaxoTraderPRO.

The Saxo Group is regulated in 15 jurisdictions including authorisation from the UK Financial Conduct Authority FCA , the Australian Securities and Investments Commission ASIC , the Financial Services Agency of Japan FSA and many more.

Customer support is available in nearly 30 different languages via phone, email and an FAQ section. Users can trade on Stock, Forex, Option and Futures — to name but a few.

City Index is a world leader in spread betting , FX and CFD Trading , regulated by the Financial Conduct Authority FCA. City Index offers over 12, different instruments to trade, including over 84 currency pairs on the ever-popular MetaTrader4 trading platform.

XTB is a European broker which was founded in , and has offices in 13 countries across the globe. XTB is regulated by the UK Financial Conduct Authority FRN and has been listed on the Warsaw Stock Exchange since XTB is a fintech company which combines financial services with innovative technology and it offers clients two platforms to choose from:.

Traders can choose from 25 crypto CFDs 9 individual coins or 16 crypto pairs which are available 7 days a week from 3am Saturday to 9pm Friday. Traders can buy or sell digital coins with leverage and day expiry.

XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian. In order to trade forex in Kenya , or any other country, a trader will need a trustworthy trading strategy within a sound trading plan.

Choosing a Regulated Forex Broker coupled with self-education is an excellent start. Overall, GO Markets can be summarised as a safe broker that provides competitive spreads on Contracts for Difference CFDs. GO Markets does not offer a Sign Up Bonus. GO Markets also does not offer a welcome bonus or deposit bonus or the advantage. The GO Markets demo.

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There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.

Read more on forex trading risks. Steven Hatzakis is the Global Director of Research for ForexBrokers. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U. as a Commodity Trading Advisor CTA. John Bringans is the Senior Editor of ForexBrokers.

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Learn How We Make Money. Home Forex Guides Directory. Published January 10, Last modified August 17, Submit Details. Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.

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Metatrader MT 5 Brokers. Low Spread Forex Brokers. Volitality 75 Forex Brokers. Social Trading Platforms. Forex Trading in Kenya is an extremely popular activity among retail and institutional traders. All forex transactions are overseen and well-regulated by the Capital Markets Authority CMA of Kenya and according to statistics, there are over , active retail traders in Kenya, with this number steadily increasing as more individuals discover the benefits of trading forex.

FSCA, FSA, CySEC, FCA, CBCS, FSC BVI , FSC. IIROC, ASIC, CFTC, NFA, FCA, FFAJ, MAS, MFSA. While there are hundreds of forex brokers in the world, it is crucial for Kenyan traders to only use the services of reliable, regulated forex and CFD brokers to ensure the safety of their funds.

We have created a comprehensive list of the best-regulated forex brokers in Kenya. We have compiled a list of the best Forex brokers in Kenya based on reliable and independent evaluations. Our evaluations, cost comparisons, and regulations may help you pick the best choice for your needs.

Beginner forex instructions are also available on our website. If you are interested in learning more about forex, check out our articles and tutorials. This, however, might be quite dangerous, simply because most success stories involve individuals taking significant risks and getting fortunate in the market.

These are fundamental terminology of the Forex market that all traders should be familiar with. Other terms that you must know include:. Trades can be executed in real-time and reflect what realistic losses and profits would look like if the money were real.

A demo account enables you to practice trading without the risk of losing money. Increased risk implies a larger potential of generating substantial rewards — but also a greater danger of incurring major losses. Additionally, it is prudent for novices to first concentrate on a single currency pair and avoid risking more money than they are willing to lose. Impatience and inexperience are the two key reasons why many novices fail at forex trading.

The Capital Markets Authority CMA is the regulatory authority in Kenya that oversees the forex market. There are currently six forex brokers who are regulated by CMA, and these are:. Kenyan traders are free to use the services of other forex brokers who are not regulated by the CMA. These regulatory entities ensure that forex brokers that are licensed and authorized through them operate in a safe, transparent, and fair manner.

Ensure that the documents are clear, and that all information is visible. This can either be a desktop terminal, a mobile app, or access to a Web-based browser, which does not need download or installation. Alternatively, if the minimum deposit is low, you can apply leverage to open larger positions despite your initial deposit.

This pair provides traders with extraordinary and rewarding chances. The pair, on the other hand, presents a challenge for traders who rely only on technical analysis. A currency pair that is less volatile than any other is the Euro. Recessions and economic crises, for example, have a significant impact on currency values, so traders should keep an eye out for them. For this reason, the following currency pairs are perfect for Professional Traders in Kenya:.

Profitable pips and in-depth market analyses are generated by this forex currency pair, making it ideal for professional traders. When oil prices rise in Canada, the Canadian currency strengthens, and vice versa when they fall. Because of the high volume of trading, the spreads on certain currency pairs are narrower and the danger of slippage is lower than on most other currency pairings.

Carry trades, for example, are a common option for experienced traders. Pepperstone is a CMA-regulated broker that ensures client fund security and provides some of the best trading solutions. These brokers are the only CFD and forex brokers who hold regulation through CMA, proving that they are trustworthy and reputable.

The best Forex Brokers that offer a No-Deposit Bonus are:. FBS also offers the benefit of a Cent Account, maximum leverage up to and competitive spreads. IG is well-regulated and ensures that all client funds are kept secure. We also prefer IG because the broker has a long-standing history of excellence and reliability. Accounts with XM are tailored to meet almost any trading style. XM Micro, XM Standard, XM Zero, and XM Ultra-Low Accounts are all available to Kenyan traders via this broker.

com as the best Forex Broker that offers Kenyan traders access to the Dow Jones or US The DJIA costs that Kenyans can expect start from 2. Through the FXTM app, Kenyan traders can trade forex, make use of automated trading strategies and tools, and access instant deposits and withdrawals. com as the best NASDAQ broker for Kenyan stock traders. com is a UK-based CFD broker with a significant foothold in the market. There are over 3, stock CFDs and 87 ETF CFDs to select from on this trading platform.

In addition, Capital. In addition, Pepperstone offers more than 28 indices that can be traded across trading accounts. Global brand AvaTrade is well recognized for its wide range of trading platform choices.

The Forex industry in the country is pretty much in its infancy but already managed to gain attention from citizens. Most investors look for high leverage offerings but one should understand that high leverage also increases the risks of high losses in case of negative trades. Remember, Trading CFDs are risky instruments as they involve a leverage. To find the best forex brokers in Kenya, we created a list of all brokers that list Kenya as a country they accept new customers from. New York Stock Exchange. ECN Electronic Communications Network brokers is where the investors directly get connected to the other investors in the Forex Markets and the fee is calculated by the volumes traded by the clients that pass through the ECN environment. The currency pair which can give a profit today may incur a loss tomorrow.

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