Here is a list of the best forex brokers for Kenyan traders reviewed.
Interactive Brokers
Interactive Brokers is an award-winning broker based in the United States, which offers its services to countries around the world.
Clients of Interactive Brokers are granted access to six cutting-edge trading platforms, on which some of the most popular asset classes can be traded, including stocks, options, futures, currencies, bonds and funds.
The broker offers six tailored accounts, including the Individual, Joint Trust, IRA and UGMA/UTMA Accounts, which can be opened with a minimum deposit of $100 or equivalent, and provide tight spreads which start as low as 0.5 pips for major currency pairs.
Robo forex
Founded in 2009, robo forex operates in 169 countries, and boasts of over 3.5 million clients. That makes it one of the leading developers of forex software in the entire world.
With a small minimum deposit of just $10, robo forex is ideal for first time traders who want to get a grasp of the business before going all in. On top of forex, you can also trade Stocks, Indices, and ETFs on the platform.
XTB
XTB is a UK based broker which offers competitive trading conditions, with spreads that start as low as 0.35 pips and a high maximum leverage of 1:200.
Headquartered in London, XTB is well-regulated across a number of jurisdictions by reputable organisations such as the KNF, FCA, CySec and IFSC.
Clients of XTB can open a live trading account with a minimum deposit of $250 or equivalent, and receive access to an impressive range of over 1500 global markets.
Added to this, clients receive negative balance protection, and can execute profitable trades on the award-winning MetaTrader 4 platform.
CM Trading
CM Trading is a leading South African forex broker which has become very popular amongst traders throughout Africa for its advanced selection of trading tools, complemented by a competitive trading environment that caters for both beginner and professional traders.
As such, clients of CM Trading are afforded a high leverage of 1:400, which can be used to trade over 50 popular instruments including forex, indices, commodities and CFDs.
In terms of its forex offering, CM Trading provides access to over 28 currency pairs, which can be traded on tight spreads that start as low as 0.7 pips for EUR/USD.
Oanda
Oanda is a well-established forex broker which has been in operation since 1996, and offers services to clients across the globe.
Based in the United States, Oanda is a MetaTrader 4 supported broker, providing clients with access to an advanced suite of trading tools, with leverage of 50:1, no minimum deposit, and exceptionally low trading fees.
OANDA’s wide selection of CFD products include stock index, bond, and commodity CFDs. Leverage can also be set manually, a useful feature to lower the risk of a trade.
Oanda offers the ever popular MetaTrader4 trading platform, as well as proprietary trading software that features forex analysis, signals, and a number of advanced trading tools.
IG Markets
IG Markets is a global forex trading brand that offers tailored solutions to retail, institutional and professional traders.
Clients of IG Markets have access to an impressive selection of over 17 000 markets, which can be traded using the advanced capabilities of the MetaTrader 4 trading platform.
While the broker’s leverage of 1:33 for forex is not the highest in the industry, clients can select from a range of live trading accounts with no minimum deposit, and trade on spreads that start as low as 0.6 pips for on EUR/USD currency pairs.
Exness
Exness is a Cyprus based broker which offers clients tailored financial services and investment solutions.
Exness provides exceptionally competitive trading conditions, with a minimum deposit of just $1, a very high leverage of 1:2000, and spreads that start as low as 0.3 pips.
Clients of Exness can enjoy these profitable trading conditions using the advanced trading capabilities of both the MetaTrader 4 and MetaTrader 5 trading platforms, with access to popular asset classes such as Forex, Metals, Cryptocurrencies, Energies and Indices.
Regulated by both the Financial Conduct Authority (FCA) and Cyprus Securities and Exchange Commission (CySEC), Exness provides a secure trading environment that caters to a variety of trading levels and strategies.
Forex.com
Forex.com is a well-regarded US forex broker that offers traders access to over 80 currency pairs for a low minimum deposit of $500, with spreads as low as 0.84 pips on the EUR/USD pair.
Established in 1999, the broker is regulated in six global jurisdictions, including the UK, Canada, Japan and Australia.
The broker offers a high leverage of 1:200, with competitive pricing, fast execution and excellent customer support, with trading supported by MetaTrader 4 and 5, as well as the broker’s flagship proprietary Advanced Trading platform.
Plus500
Based in Australia, Plus500 is a leading forex broker in the industry today, particularly for its highly rated CFD trading apps which are available for both Apple and Android.
Plus500 offers clients a competitive trading environment, with spreads that start as low as at 0.6 pips for EUR/USD currency pairs, and a maximum leverage of 1:300.
For a minimum deposit of $100, clients can access the brokers single, integrated live trading account and gain access to the brokers award-winning trading platform.
Using this advanced software, traders have access to 2,000 CFDs across the Forex market, cryptocurrencies, commodities, equities and indices, ETFs, and options markets.
HotForex
HotForex is an online commodities and forex broker based in Cyprus, which we consider as one of the best forex brokers in Kenya as it is also licensed in Kenya. It offers tight spreads 0.1 for EUR/USD currency pairs and an exceptionally high leverage of 1:1000.
The broker offers prospective clients a wide selection of live trading accounts, which support EAs, Scalping, and Hedging, and which can be opened with an impressively low minimum deposit of $5.
The broker’s advanced trading tools and competitive trading environment have garnered it over 35 industry awards, with its services offered to over two million clients around the world today.
Pepperstone
Pepperstone is an Australian forex and multi-asset broker that offers 70 currency pairs for forex trading, as well as CFDs, with a high maximum leverage of 1:500 and spreads that start at 0.13 pips for EUR/USD currency pairs.
The broker has become particularly popular for its rich selection of advanced trading platforms, including both MetaTrader 4 and MetaTrader 5, copy-trading software, and cTrader.
Prospective clients can choose from the commission-based Razor Account, or the Standard Account with commissions incorporated into the spread, both of which can be opened with a minimum deposit of AUD$200 or equivalent.
