What is an App For Trading?
Just like most of the best investment apps, stock trading apps allow traders to access the stock market from a mobile device.
With a stock trading app, you can buy and sell assets, plus access additional app features like educational resources and goal planning tools.
Best App For Trading In Kenya
XM Forex Trading App
XM is a leading online forex and CFD trading platform that offers a wide range of products including currencies, commodities, equities, and indices.
Founded in 2009, XM has grown to become a popular choice among traders around the world due to its competitive pricing, excellent customer service, and powerful trading platform.
One of the key features of XM is its low minimum deposit requirement. With just $5, forex traders in Kenya can open a real account and start trading a wide range of financial instruments. This makes XM an ideal choice for beginner traders who want to test the waters and gain experience without risking a significant amount of money.
FxPesa, also known as EGM Securities, is a leading online broker that offers trading in a wide range of financial instruments, including foreign exchange (forex), contracts for difference (CFDs), and indices. Founded in 2019, FxPesa has grown to become one of the largest forex brokers in Kenya, with over 100,000 active clients and a monthly trading volume of over $1 billion.
One of the key advantages of trading with FxPesa is the broker’s commitment to transparency and fair dealing. FxPesa is regulated by the Capital Markets Authority (CMA). This means that FxPesa is required to adhere to strict rules and standards when it comes to safeguarding client funds, providing accurate pricing, and maintaining a fair and transparent trading environment.
HotForex Trading App
The HotForex Trading App is one of the best trading apps in Kenya. It is a mobile app that allows traders to access their trading accounts on the go.
There are several reasons why the HF Markets trading app is a good choice for forex traders in Kenya:
- Wide range of tradable assets: The app offers access to over 300 tradable assets, including forex pairs, cryptocurrencies, commodities, and indices, providing traders with a wide range of options to choose from.
- Advanced trading tools and features: The app offers advanced trading tools and features, such as price alerts, economic calendars, and trading signals, to help traders make informed decisions and maximize their potential profits.
- Competitive spreads and fees: The app offers competitive spreads and fees, which means that traders can trade with minimal costs and maximize their potential profits.
FBS Trader App
FBS is a forex broker that offers trading services for a wide range of financial instruments, including forex, indices, commodities, and stocks. The company was founded in 2009 and is headquartered in Belize, with offices in several other countries around the world.
One of the key features of FBS is its low minimum deposit requirement. With just $1, traders can open a real account and start trading the financial markets. This makes FBS an attractive option for Kenyans who are just starting out and don’t have a lot of capital to invest.
JustMarkets is a popular online broker that offers trading in various financial instruments, including forex, commodities, and cryptocurrencies. The company was founded in 2012 and is headquartered in St. Vincent and the Grenadines.
JustMarkets is regulated by the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and by the Seychelles Financial Services Authority (FSA) in Seychelles.
It is also a member of the Financial Commission, an independent dispute resolution organization. The company also offers negative balance protection, ensuring that traders do not lose more than the funds in their accounts.
Exness Trader App
Exness is a global online forex broker founded in 2008. The company provides trading services for a wide range of financial instruments, including forex, metals, energies, and indices.
With over 10 years of experience in the industry, Exness has established itself as a reputable and reliable broker, offering a range of services to its clients.
Exness is regulated by several financial authorities around the world, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Authority (FSA) in Seychelles, and the Capital Markets Authority (CMA) in Kenya.
How to trade online in Kenya?
Get Started with Forex in Kenya
- Get a relatively modern device that can connect to the internet, such as a smartphone, tablet or computer.
- Find an online forex broker that accepts clients from Kenya.
- Open a margin account with that broker for trading forex.
- Make a deposit using a payment method accepted by the broker.
Who is the best forex trader in Kenya?
8 Best Handpicked Forex Traders in Kenya Revealed:
- ✔️Paul Mugenda.
- ✔️Ken Githaiga.
- ✔️Silah Obegi.
- Joshua Matumo.
- Edwin Kamau.
- Sylvia Muchai.
- Patrick Mahinge.
- Vincent Nyagaka.
Is online trading legal in Kenya?
When the CMA built a legal regulatory framework to incorporate online forex trading in August 2017, Kenya became the second government in Africa to fully authorize currency trading. As a result, forex trading is permitted in Kenya.
Is forex trading legit in Kenya?
Online Forex Trading is Legal in Kenya
Online Forex Trading in Kenya is legalized and includes CFDs on underlying foreign assets; it is regulated by Capital Markets Authority (CMA).
How much do I need to trade forex in Kenya?
You can start forex trading in Kenya for as low as KSh. 500 deposit. The exact deposit requirements depend on the broker to broker & are different for various payment methods. Many brokers offer a lot of options when it comes to opening accounts with them.