Best Brokers in Kenya

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The retail online forex market has been growing rapidly around the world since the internet became more accessible in the early s. The trend has also caught up in Africawith forex trading in Kenya becoming a valid investment option for individuals. Even though the practice has been around for over a decade, forex trading in Kenya has only just began growing in the past 5 years or so.

Nevertheless, the growth has been enough to catch the attention of financial regulators, who are now creating laws targeted at online forex trading in Kenya. Numerous online forex bureaus have been cropping up around Kenya, with the numbers standing at about 80, The call for stricter regulations on online forex trading started last year in July when a draft of new regulations was proposed.

The laws were expected to come into effect this year, and they just have. The new regulations have now officially been gazetted along with the amendments of the Capital Markets Act.

The Kenyan shilling had been sliding against major currencies. This is mostly because of the uncertainty created by the general elections, but the CMA also claim traders are spreading negative rumours. Last year, the central bank warned bankers and traders not to make negative comments.

This year, the CMA has excluded the Kenyan shilling from online forex exchanging. Previously, any company could operate as a forex market dealer without a license, but now all such institutions are required to acquire a license from the CMA. The CMA recognized that these dealers were using offshore platforms and brokerages to conduct businesses, even though they were not regulated to operate in Kenya.

These dealers must also have Ksh. Furthermore, these capital reserves must remain in Kenya, with at least Ksh. The CMA stated that the requirement was supposed to protect customers. Online forex brokers allow deposits through various payment system providers like Skrill, Neteller, etc. In Kenya, the use of M-Pesaa mobile payment service, makes it possible for users to send money to their online forex brokers without ever going through a bank.

The CMA acknowledged that this had the potential to disrupt analysis of capital outflows and inputs. Therefore, all individual retail forex traders are required to fund their forex trading accounts through ledger accounts created by licensed forex brokers. The laws have just come into effect this week, so thus far the effects of the law have not been felt. However, the CMA is probably going to have trouble implementing the new laws because of the cashless payment system.

But, we only need to wait and see how it goes first. Stay up to date with the financial markets everywhere you go. Home - Top Stories - Updates for online forex trading in Kenya. Among the new regulations are conditions covering: The Kenyan shilling The Kenyan shilling had been sliding against major currencies. For forex dealers Previously, any company could operate as a forex market dealer without a license, but now all such institutions are required to acquire a license from the CMA.

For retail traders Online forex brokers allow deposits through various payment system providers like Skrill, Neteller, etc. How will these regulations affect online forex trading in Kenya? Comments 0 comment s Click here to cancel reply. Get the most recent news at your inbox Stay up to date with the financial markets everywhere you go.

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The foreign currency trading market, also known as the Forex market , is the largest singular trading environment in the world today. In the not so distant past, only large companies, governments, banks, and hedge fund managers were allowed to trade in foreign currencies, but thanks to the advent of the internet in the 90s, almost anyone can now trade electronically anytime. Nowadays, even people who have limited resources can get a chance to strike it rich on the Forex trading market.

If you want to become a Forex trader yourself, then you need to learn about the basic trading concepts. Finding this kind of information these days is quite easy because they can all be found online using any search engine. However, if you want to learn from the experts, then you need to go to the website of any reputable broker. Join easyMarkets in Kenya Today!

Online Forex brokers like easyMarkets can provide you with a wide range of educational resources like videos, webinars online seminars , eBooks, and plenty of other online resources; you can also get plenty of online trading tools to help you get started in their website, tools like technical analysis, financial calendars, and news tickers that come from reputable sources like Reuters. Once you learn the basics of Forex trading, the next step you should take is finding a trading platform that works for you.

It just so happens that easyMarkets also has an intuitive and easy-to-use online trading platform that you can use to trade with. The biggest benefit of using the easyMarkets web trading platform is that you can either use their online platform, download their TradeDesk platform on your desktop computer, or you can access it on your mobile device so you can keep track of your trades wherever you are.

You can also get in touch with one of their expert account service managers via phone, email, or chat if you ever need any help any time of the day. After you have chosen a broker and a trading platform, the last step before you can start making money online is to register your account at easyMarkets; you only need to go online and register your trading platform and deposit funds into your trading account.

You can either use your credit card, or you can transfer funds from your bank account. Now, if you are still wary about using real money in Forex trading, then you can give the easyMarkets demo account a try. This dummy account will let you experience the thrill of Forex trading without any risk of losing money; and another great thing about signing up with easyMarkets is that you can get a chance to win trading credits if you place among the top three monthly users of their demo trading account.

As you can see, it is actually very easy to get started on the Forex trading market; you only need to follow the steps mentioned above and you will be on your way to making money. Not only were they among the first to let common folks trade in foreign currencies, they actually revolutionized the industry.

Foreign currencies are not the only commodities that can be traded using easyMarkets. Using just one account, you can actually trade in other commodities like gold and oil as well.

You can also choose to use the easyMarkets web-based, desktop, or mobile platforms so you can trade from anywhere at any time. These are the governing bodies that monitor all of our brokers' activities to make sure that the safety of our clients is carefully looked out for.

Whether you are an experienced Forex trader or a beginner at trading, we will provide you with your own personal account manager so that you will be given helpful tips and advice to make your trading experience that much better.

You can also check our website for other educational materials like online videos that can teach you the basics of Forex trading, there are also some that can help improve your game. Our clients who open up a gold, platinum, or a VIP account with us will also get exclusive access to our dealing room services, which includes personal support and coaching from our expert brokers, and more powerful trading tools for traders who want to take their game to a whole other level.

Welcome to Forex trading Kenya! Reasons Why Traders Prefer to Use easyMarkets Easy-to-understand margin calculation methods that allow them to leverage all of the available funds in their account. The easyMarkets platform has an effective stop-loss order so traders will not lose more money than what they are comfortable with. Tight spreads so traders are sure to get the rates that they set out for. Secure deposits and withdrawals to your trading account.