Online Forex Trading in Kenya, Forex Exchange Kenya

Forex Trading in Kenya

How to Choose a Forex Broker as a Kenyan trader.

Forex trading is currently unregulated in the country and choosing a broker in Kenya can be a problem. There are companies that offer services there and you can do online trading, but you need to be very careful as the company could be a complete fraud or government officials can charge you with doing something illegal. The Financial Markets department compiles indicative foreign exchange rates daily for use by the general public. These rates reflect the average buying and selling rates of the major participants in the foreign exchange market at the open of trade every day, thus providing a good indicator for any interested party on the value of the shilling on any particular day.

A Comparison of AvaTrade vs. XTB vs. Plus500

Kenya’s online forex traders are participating in the global currency market through foreign registered brokers who provide the link to clearing centres in Europe, Asia and the US.

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General Regulation & Kenya Regulation

Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors.

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Brokers compete with each other trying to gain as many customers as possible and they often do it by offering extra services. After checking the largest forex brokers in the world I have selected the ones that are most friendly with Kenyans and have the best trading conditions as well as the most accessible deposit and withdrawal methods.

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