5 Best Forex Trading Brokers in Kenya

Overview

More people in Kenya are putting their money into the world’s largest and most decentralized market, Forex.

If you don’t use a regulated broker, the inherent risk of forex trading may be increased, despite the many advantages. Regulated brokers ensure that traders have a fair dispute resolution process and that their funds are safe.

In this article we explore the 5 best Forex trading brokers for Kenyans which also offer superb trading conditions and a secure trading environment.

1.     Exness

Overview

Established in 2008, Exness has developed fast in the business since its inception and today boasts over tens of thousands of live customers worldwide.

Exness provides a wide range of account types and financial instruments, as well as an FCA and CySEC-licensed regulatory framework, for traders of all skill levels.

Pros and Cons

PROSCONS
Well-regulated
Tight spreads
Over 130 currency pairs

Features

FeatureInformation
RegulationCySEC, FCA
Minimum deposit from$1
Average spread from1.3 pips
Commissions from3 USD and 10 USD per 1 lot for CFDs
Deposit/Withdrawal FeesNone
Maximum Leverage1:2000
BonusesStandard +10% Bonus Programme
Customer Support24/5 – multilingual

2.     FXPesa

Overview

FXPesa provides Kenyan traders with great trading software that is available for both Mac and Windows operating systems. The company is particularly well-known for its highly navigable trading app, which is available for both iOS and Android devices.

Pros and Cons

Pros

MetaTrader 4 available

Proprietary trading platform available

Good selection of trading assets

 

Cons

Not the tightest spreads in the industry

 

 

Features

FeatureInformation
RegulationCMA
Minimum deposit from$5
Average spread from1.4 pips
Commissions fromNone
Deposit/Withdrawal Fees1% on e-wallets
Maximum Leverage1:400
Bonuses30% deposit bonus
Customer Support24/5

3.     Pepperstone

Overview

One of the most comprehensive online forex trading experiences can be found at Pepperstone. Fast execution systems, many account kinds, competitive pricing, and multiple platforms (MT4, MT5, and complete cTrader capability) outshine the great majority of forex brokers globally.

Pros and Cons

Pros

 

No minimum deposit

Low trading fees for forex

No added costs for withdrawals or deposits

 

Cons

 

Limited number of instruments

No additional research tools

 

 

Features

FeatureInformation
RegulationFCA, ASIC
Minimum deposit fromAUD200
Average spread from0.4 pips
Commissions from‎$3.76 commission per lot per trade
Deposit/Withdrawal FeesNone
Maximum Leverage1:500
BonusesNone
Customer Support24/5

4.     Scope Markets

Overview

The powerful MetaTrader 5 platform is accessible on a variety of devices with Scope Markets, and a wide range of trading instruments in a variety of asset classes are available. In order to get started, you’ll need to have at least $500 in your account, and you’ll have leverage of 1:100 if you’re a professional.

Pros and Cons

Pros

MetaTrader 5 available

Excellent educational resources

Well-regulated

 

Cons

Demo account not currently available

 

 

Features

FeatureInformation
RegulationCMA, CySEC, FSCA
Minimum deposit from$500
Average spread from0.9 pips
Commissions fromVariable
Deposit/Withdrawal Fees$35 per withdrawal
Maximum Leverage1:30 retail/1:100 professional
BonusesNone
Customer Support24/5

 

5.     Exinity East Africa

Overview

Exinity is a great platform for any type of trader. Exinity offers a raw spreads as low as 0 pips and a commission-free trading environment that is ideal for manual traders. The Exinity Trader account offers the best trading conditions for algorithmic traders.

Pros and Cons

Pros

Full MetaTrader suite available

Negative balance protection provided

Multi-regulated

 

Cons

Cryptos not available

 

 

Features

FeatureInformation
RegulationCMA, FSRA, FCA
Minimum deposit from$20
Average spread from0.5 pips
Commissions from$2 per lot for Forex
Deposit/Withdrawal FeesNone
Maximum Leverage1:200
BonusesYes
Customer Support24/5