What is a Binary Trading?
A binary option is a financially exotic option in which the payoff is either some fixed monetary amount or nothing at all. The two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing binary option.
Best Binary Trading App In Kenya
Binary.com
Binary.com is an established binary options brand that has recently added a Bitcoin-funded trading account. Binary.com is regulated by the Malta Financial Services Authority with offices based in Malta and Malaysia respectively.
Low minimum deposits not only make Binary.com an attractive choice but traders can assess the binary options platform, whilst taking minimal risk. The flexibility of the trading platform will particularly be appreciated by advanced traders as it allows for the ‘structuring‘ of trades in order to enable more complex risk/reward plans to be created and executed.
IQ Option
IQ Option is one of the largest binary options and forex (FX) brokers currently available for trade. IQ Option is a regulated broker under the jurisdiction of the Cyprus Securities Exchange Commission (CySEC) under the name of the holding company IQ Option Europe.
Ayrex
Ayrex is a crypto-based binary options brand, operated by Advanced Binary Technologies Ltd, based in St Kitts.
Ayrex accepts traders from around the globe but does not serve traders in the United States, Iraq, Iran, North Korea, Syria, and several other countries.
RaceOption
RaceOption is a popular international binary broker with one of the best trading platforms available on offer. With state-of-the-art technology, traders can expect non-stop trading, lightning-fast withdrawals, and instant execution.
RaceOption has a minimum deposit requirement of $250 and a $1 minimum trade size, which makes it suitable to beginner traders. Traders can also take advantage of multiple bonuses, contests, and promotions on offer.
Binarycent
Binarycent gives traders access to options, forex, and CFDs via a user-friendly trading platform. Traders can make a selection from three account types with a minimum deposit of $250.
Each account comes with a rewarding deposit bonus, quick withdrawals, 24/7 support, and a demo account, with Binary trades starting from just $0.10.
ExpertOption
ExpertOption is a global binary broker that serves customers from 48 different countries. The trading platform works on all devices, and traders can easily access over 100 assets.
ExpertOption offers six different account types, including a Micro account. Traders can also take advantage of the broker’s social trading platform, which enables them to study the trades of VIP clients.
Who is the richest binary options trader in Kenya?
The most well-known successful binary options trader is called Paul Mugenda. He’s rumored to have a net worth of several million shillings, all earned from binary trading in Kenya.
Is binary trading legal in Kenya?
Answer: The trading of binary options is presently not prohibited in Kenya, making it legal to do so in Kenya.
How to start trading in Kenya?
To begin trading, you need to contact a stockbroker (a professional who will execute buy and sell orders for stocks on your behalf), and set up a Central Depository System (CDS) account which is free to open.
Just like a bank account where you keep your money, this account will be where your shares are held.