In case the EUR value appreciates by pips to 1. Hence, we are able to trade and profit more with less capital but high leverage. Most investors look for high leverage offerings but one should understand that high leverage also increases the risks of high losses in case of negative trades.

For CFD instruments other than forex, you should strictly use leverage of no more than Also Read: Our guide on What is Leverage in Forex Trading. The bid price is the maximum price at which a trader or a broker is willing to buy a forex pair.

The ask price is the minimum price at which a trader or broker is willing to sell a forex pair. One thing to note here is, the bid and ask prices operate differently for brokers or market-makers and price takers or regular investors. Market-makers buy at the bid price and sell at the ask price.

Price takers buy at the ask price and sell at the bid price. The concept of the bid and ask prices is similar to the buying and selling prices of groceries from the perspective of a shopkeeper.

As a shopkeeper, the wholesaler's selling price is equal to your buying price. Similarly, when you are selling the same groceries to your customers, your selling price will be equal to your customers' buying prices.

Generally, the bid prices are lower than the respective ask prices. This is because the sellers try their best to make a profit off a trade. It is good for you if your broker has a lower spread, which would mean lower fees for a trade. For trading in the forex market you need to trade via a broker. The broker's Bid price would be quoted as something like 1. The difference between this is the broker's fees called the spread.

The lower the spread, the better it is for trader. This is because it will allow you to retain more profit or a lower loss. as these can make the overall fees higher even if the spread is low. For ex. And there is Broker B, that has 1. The overall fees would likely be lower with broker B, depending on your trading volume.

The value of your order will depend on the units of a currency traded. Generally these units are referred to as lots. You will see the option to choose the number of lots that you want to trade on the brokers platform.

Most brokers allow to trade custom number of lots, for example you can trade 5 Mini Lots, or even 5. Brokers like FxPesa, Exness etc. that offer MetaTrader have this option. Capital Markets Authority CMA of Kenya has made online forex trading in Kenya more regulated now. To trade forex in Kenya via a locally regulated broker, you need to open an account with any of the forex brokers regulated and licensed by CMA.

There are six such brokers who are regulated by CMA: EGM Securities, PepperStone Kenya, ForexTime Exinity Group , HotForex, Windsor Markets and Scope Markets. There are also global foreign regulated forex brokers accepting traders from Kenya - that are regulated with foreign regulators like Financial Conduct Authority FCA , Financial Sector Conduct Authority FSCA , Australian Securities and Investments Commission ASIC and the likes. It is recommended that you choose the only brokers that are licensed by CMA.

Only this will ensure that you are trading forex legally. Almost all the brokers provide demo accounts. Demo accounts are like real trading accounts, and your can trade and understand the nuances of trade just like real trading account without risking your real money.

But it is still a good place to learn trading. Most Forex brokers have a Live Account Opening page on their website. Live this example from FxPesa's website.

Generally, the steps involved are the same. You need to fill your 'Account Information' details, your Financial Adequacy information. Then you need to submit your 2 KYC documents i. For the KYC, it is essential that you submit valid documents as this will prevent any issues during withdrawals. For ID proof you can submit copy of your Passport or any other National ID.

For Address proof, you can submit your phone or any other Utility Bill. ECN Electronic Communications Network brokers is where the investors directly get connected to the other investors in the Forex Markets and the fee is calculated by the volumes traded by the clients that pass through the ECN environment. STP or Straight Through Processing is where the broker passes the trades to liquidity providers for execution and gives access to interbank market structure.

Even though having DMA gives you wider access to markets with higher rewards and risks, but finding true brokers providing DMA is difficult and tricky. You should avoid brokers that are market makers as these brokers take position against you.

So any loss that you make with a market maker forex broker is the profit of that broker. All the CMA licensed online forex brokers are 'Non-Dealing' which means they don't operate a dealing desk. So, they are not market maker brokers. If you are a beginner, you should choose brokers with standard spread accounts only where the broker preferably offers STP accounts like in case of Hotforex.

The expert traders can go for ECN type account. These have low fees but commission is charged as per the trading lots. With Zero Account it is 0. So, if you are a trader trading high volume, it would be right decision to open your trading account with Zero Account for saving on the broker's trading fees. Many brokers offer a lot of options when it comes to opening accounts with them. All these accounts require a minimum account balance. When the market reaches a certain high and cannot break through it, that price becomes market resistance.

Likewise when the market reaches a low price and can not break through it it becomes price support. The more times the price hits a certain high or low and fails to break through it, the stronger the resistance or support of that price. Often times when price finally breaks through the support or resistance, that past support becomes future resistance and likewise the past resistance becomes future support. Foreign currency trading, or forex, is easily one of the best ways to make money in your own time from the comfort of your own home.

It is totally legal to trade forex in Kenya. The industry is regulated by the Capital Markets Authority CMA , making sure that retail traders like you are me are safeguarded from unfair trade practices by forex brokers. Currently, there are 3 CMA licensed forex brokers in Kenya. Currency trading for profit is the act of exchanging your base currency for a foreign currency. You get to keep the profits. Each foreign currency is given a value that is shown down to four decimal places, with the exception of the Japanese Yen, which is shown to two decimal places.

These pricing increments are called pips. The value of each currency shown within your forex currency trading account is likely to change several times daily. To someone unfamiliar with forex currency trading, watching the value of a currency change by a few pips seems barely worth the effort.

However, each pip of change could potentially mean hundreds of thousands of dollars in profits or losses. Online currency trading can give traders the advantage of being able to trade at any time of the day or night from anywhere in the world, using only a computer and an internet connection.

The ability to add specific automated forex trading software to an online currency trading account also allows investors the ability to automate many areas of their trading activities. It can recognize pricing trends and analyze the likelihood of a profitable trade.

Once a potentially winning trade has been identified, the software can place a trade immediately. It can also close out that same trade once a profit has been realized. Currency trading on margin, or using leverage, can be a great way to magnify your profits. The vast majority of forex brokers will offer traders the ability to trade using leverage of up to Forex Educational products and seminars can be found just about anywhere these days. The aim of this site is to simply provide as much as we can to our visitors for FREE.

Yes, we do not ask for a single cent from you. We are a group of successful forex traders in Kenya who have muscled our way through the markets over the years with sheer and unrestrained resilience. The key to becoming a successful trader is not to embrace the market with some magical system that never fails.

No such thing exists. The key to success in the Forex markets is to enter the career as a trader it can be a side job as well… one of our team members simply trades swing approaches because he loves running his other business on the side. All you need is to be proficient as a learner with a capacity for learning from your mistakes , disciplined, disciplined, note the repeated use , and willing to work on your emotional state to firm up any of the weaknesses or tendencies that will keep you from performing consistently.

The online forex market is a place where currency is either bought or sold. Trades are placed through a forex broker, and the mechanics of the trade are managed just as they are with other markets.

Traders have four option when making a trading:. The object for any trader is to trade in the direction of the currency the trader feels the market will move. The challenges that face all traders, particularly Forex traders in Kenya, are the challenges of entering a trade and reaching a target before the market goes against the said entry. Both fundamental and technical traders are challenged by this obstacle, and many approaches for managing this challenge have been construed.

Futures, CFDs, and Forex are leveraged products with a high degree of risk to your capital. Such products may not be suitable for all investors and therefore you need fully understand the risks associated with them and seek independent advice if necessary.

The information in this site does not contain and should not be construed as containing investment advice or an investment recommendation, or an offer of or solicitation for a transaction in any financial instrument. An address. Mon to Friday am to pm. Enter your email address to get the latest updates and offers. Skip to content Kenya Forex Firm. Home About Training Appointments Blog Contact.

Join The FX Revolution Learn How to Start Online Forex Trading in Kenya At Kenya Forex Firm, we believe that anyone can learn how to invest in the global Forex market. Apply for training now. How to Start Online Forex Trading in Kenya. Learning to become a successful forex trader in Kenya is a difficult goal to achieve.

Why Trade Online Forex In Kenya? With such a vast amount of money traded daily, it becomes increasingly easy for you to make a tidy sum of profit each trading day. Online forex trading does not have this cumbersome process. You open an account with a reputable forex broker , deposit funds into the account, and you are on your way to profs.

Kenya Stock Exchange. Popular Global Stocks. Forex Brokers. Forex Trading Platforms. Best Forex Brokers Top Forex Brokers Forex No Deposit Bonus Best Trading Apps Forex Trading for Beginners Forex Trading for Intermediate Traders Forex Trading for Professionals Top Successful Forex Traders High Leverage Forex Brokers Volatility 75 Forex Brokers Top Volatile Forex Pairs Biggest Forex Brokers in the World Best Forex Trading Strategies Low Spread Forex Brokers Scam Forex Brokers Unregulated Forex Brokers.

Trading Platforms by Deposit. Index Trading Platforms. Trading Platforms. Brokers by Account Type. Brokers by License.

Brokers Types. Day Trading Platforms. Brokers by Country. Forex Traders on Social Media. Forex Brokers Payment Gateways. Broker Reviews. Top 10 Best Rated Brokers. Top 10 African Brokers. Top 10 European Brokers. Top 10 US Brokers. CFD Trading. Case Studies. Helpful Guides. Trading Courses. Select Language. Русский English ไทย Svenska Brazil Portugal Polski Suomi India Indonesia Pakistan Melayu Bangladesh.

Tiếng Việt 한국어 Italiano Nederlands Kenya Français العربية Español Deutsch Nynorsk Dansk 简体中文 日本語. Bulgarian Catalan Croatian Czech Republic Philippines Greek Hungary Romania Slovakia Iran Ukrainian Turkey Tamil.

Broker of the month. Top 27 Regulated Forex Brokers. Forex No Deposit Bonuses. Best Brokers. Visit Broker. Joshua Matumo. Edwin Kamau. Sylvia Muchai. Patrick Mahinge. Vincent Nyagaka. Author Details. Facebook Twitter Youtube Linkedin Instagram. Louis Schoeman. Table of Contents. You might also like.

JP Markets Sign Up Bonus JP Markets offers a welcome bonus to all new traders who choose to register for a real account. JP MARKETS Review JP Markets is considered a low-risk and can be summarized as trustworthy and reliable. IWBank Review Overall IW Bank offers numerous investment prospects for their clients, and allows them to invest in equities and bonds.

com Sign Up Bonus TRADE. com Minimum Deposit Trade. com Fees and Spreads TRADE. A - Z Brokers:. Trade with a Regulated Broker. As Seen On:. fs logo footer. Facebook Twitter Youtube Linkedin Instagram Pinterest. Indices Stocks ETFs Commodities Cryptocurrencies Menu.

Learn to Trade Free Courses Menu. Forex Brokers by Country. What is Forex Trading Best ECN Brokers FCA Forex Brokers NDD Brokers STP Brokers NFA Forex Brokers PAMM Forex Brokers Menu.

Swap-Free Forex Brokers Social Trading Automated Trading Best Forex Demo Accounts Best Forex Trading Apps Forex Screener Menu. Top 10 Forex Brokers. Avatrade Exness JustMarkets Oanda BDSwiss Hotforex Pepperstone FBS OctaFX GoMarkets Menu.

What is ETF trading Best Regulated ETF Brokers Menu. What is CFD Trading Best Regulated CFD Brokers Menu. How to Invest Money What to Invest In How to Invest in Index Funds How to Invest in ETFs Menu. Indices Chart Stock Chart Forex Charts Cryptocurrency Chart ICO Calendar Menu. Blacklisted Brokers Menu. Best Forex Brokers Best Stock Brokers Best Cryptocurrency Brokers Best CFD Brokers Best ETF Brokers Compare Brokers Best Oil Brokers Best Gold Brokers Best Commodity Brokers Menu.

All Cryptocurrencies Best Crypto Brokers Bitcoin Ethereum What is Bitcoin Cash? What is Ripple? What is Litecoin? Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Copyright © Forex Suggest. All rights reserved. Contact Us. About Us. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits.

However, you may visit "Cookie Settings" to provide a controlled consent. Cookie Settings Accept All. Manage consent. Close Privacy Overview This website uses cookies to improve your experience while you navigate through the website.

Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website.

We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience. Necessary Necessary. Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.

Cookie Duration Description cookielawinfo-checkbox-analytics 11 months This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".

Buy Amazon Stock Buy Apple Stock Buy Tesla Shares Buy Google Shares Buy Pfizer Stocks Buy Facebook Shares Buy Mastercard Stocks Buy Microsoft Stocks Buy Coca Cola Stocks Buy Visa Stocks Buy Intel Stocks Buy Nike Stocks Buy Nvidia Shares Buy Netflix Stocks. Best Forex Brokers Top Forex Brokers Forex No Deposit Bonus Best Trading Apps Forex Trading for Beginners Forex Trading for Intermediate Traders Forex Trading for Professionals Top Successful Forex Traders High Leverage Forex Brokers Volatility 75 Forex Brokers Top Volatile Forex Pairs Biggest Forex Brokers in the World Best Forex Trading Strategies Low Spread Forex Brokers.

Scam Forex Brokers Unregulated Forex Brokers. Nasdaq Brokers FTSE Brokers FTSE Brokers. MT4 Brokers MT5 Brokers cTrader Brokers Zulu Trade Brokers Futures Trading Platforms Social Trading Platforms Binary Trading Platforms Best Forex Robot Traders. Cent Account Forex Brokers Micro Account Forex Brokers PAMM Account Forex Brokers Swap Free Account Brokers. FCA Regulated UK ASIC Regulated AUS CySec Regulated Cyprus CFTC Forex Brokers USA CBN Regulated NG FSCA Regulated SA.

ECN Forex Brokers STP Forex Brokers NDD Forex Brokers Stock Brokers Crypto Brokers CFD Brokers ETF Brokers Binary Options Brokers Best Oil Brokers Best Gold Brokers Best Commodity Brokers. Day Trading Strategies Crypto Day Trading Platforms.

Forex Brokers in the UK Forex Brokers in South Africa Forex Brokers in the USA Forex Brokers in Nigeria Forex Brokers in Germany Forex Brokers in Australia Forex Brokers in New Zealand. Best Forex Brokers on Instagram Best Forex Brokers on Twitter Best Forex Brokers on Youtube Best Forex Brokers on Facebook.

Forex Brokers Accepting Mobile Money Forex Brokers Accepting PayPal Forex Brokers Accepting Credit Cards Forex Brokers Accepting Cheques Forex Brokers Accepting Bitcoin.

Avatrade 2. Exness 3. JustMarkets 4. Oanda 5. BDSwiss 6. Tickmill 7. Pepperstone 8. FBS 9. OctaFX FP Markets. Exness 2. Avatrade 3. HFM 4. Forextime 6. CM Trading 7. Go Markets 8. Alpari Easy Markets. OctaFX 2. Bdswiss 3. Axiory 4. Pepperstone 5. Plus 6. Exness 8. Go Markets 9.

com Oanda 2. com 4. TD Ameritrade 5. ATC Brokers 6. Nadex 7. com 8. ACY 9. NinjaTrader Best CFD Trading Strategies What is CFD Trading? Top CFD Forex Brokers. What is Bitcoin? Bitcoin Trading Bitcoin Trading Tips and Strategies Bitcoin Mining Bitcoin Forex Brokers Quotes from Bitcoin Believers Bitcoin Halving Bitcoin Brokers Best Bitcoin Trading Apps Bitcoin Trading Bots Cloud Mining. Ultimate Guide to Cryptocurrency Cryptocurrency Pairs Cryptocurrency Brokers Cryptocurrency Exchange Platforms Cryptocurrency Blockchains.

Litecoin Ethereum Ripple Bitcoin Cash. Global Impact of Crypto Trading Worldwide Currency Report Cryptocurrency Cap Crypto Transaction Speeds Crypto Diversity Worldwide Crypto Readiness Report Crypto Opportunity Cost Crypto Spending Top Anti-Crypto Countries Crypto Regulation Index Global Investment Report.

How to Invest Money How to Invest in ETFs How to Invest in Index Funds How to start Forex Trading How to Pick Shares How to Report a Forex Broker How to be Consistent in Forex.

As the online forex industry continues to gain popularity in Kenya , there are multiple investors who have emerged as leading forex traders in the country. These traders have not only proven that it is possible to trade profitably but also become wealthy from the global forex market in Kenya. Kenya , is a country situated in Eastern Africa with a population of approximately 47 Million potential Forex Traders. Tourism in Kenya is the second-largest source of foreign exchange revenue following agriculture and currency exchange is not only legal, but essential for business to be conducted.

The Most successful Forex traders in Kenya is also unique as the list features a female forex trader , a true rarity in the Forex World. Before he joined the ranks of the Best and most successful Forex traders in Kenya , Mugenda was a student living in relative poverty, enrolled in the Technical University of Kenya.

He was getting by with very little money given to him by his parents. Mugenda has always had an entrepreneurial mind and was able to develop some of his own hustles on the side in order to help him save some pocket money for personal use.

Initially, Mugenda would buy tea in bulk, repackage them, and resell them to various passers-by. But, even with this extra income, Mugenda was struggling to make ends meet, with multiple financial responsibilities, such as his studies, needing his attention.

As a result, Mugenda decided to find a new source of income in the form of a traditional 8 to 5 job — as an insurance broker.

Unfortunately, multiple days would pass before he was able to make a sale. At this point a friend introduced Mugenda to the world of forex trading , lending him the money needed to make a start. Unfortunately, Mugenda like many other beginner traders lacked the knowledge necessary to make smart investments and lost all of his invested money. Surprisingly, the same friend was generous enough to provide Mugenda with another loan, and took the time to sit down and explain all of the factors connected to the trade, making Mugenda more prepared and equip.

Within a few months, Mugenda was making a reasonable income from Forex trading and his wealth continues to accumulate. Mugenda, a man in his twenties, has made headlines due to his rapid acquisition of wealth as a Forex trader.

Mugenda is incredibly successful in the forex trading field and has gone above and beyond to create Paris FX — a Forex company which has gained significant profits in the past few years. After he graduated from college, Githaiga was unsure of which direction he wanted to go in but decided that the traditional office job setting was definitely not the ideal choice for him.

Through a simple Google search, Githaiga came across the concept of Forex trading. Today, Forex is by no means his full-time job, taking up a very small portion of his day-to-day life. Githaiga gained most of his trading knowledge through self-education on the internet.

Silah Obegi is a top Forex trader in Kenya whose success was found in a more traditional sense. Obegi received a Bachelor of Business Management from Moi University, after which he worked his way up in the field of finances. Currently, Obegi is the C. at Meta Capital Limited.

Throughout his experience within the financial fields, Obegi has been able to develop an automated Forex trading system which is unbelievably lucrative.

Obegi is the Director of the Nairobi School of Forex, where he shares his knowledge of the Forex trading system and automated tools he developed.

Joshua Matumo is the founder and managing director of a company called Fourth street Consultants. Matumo began his trading career in at Strathmore University and specializes in trading currencies as well as commodities. Joshua Matumo is known to be excellent when it comes to risk management and professional market analysis alike. Fourth street Consultants also offers consultations and comprehensive courses on Forex trading. Kamau works as a banker aside from trading. Forex trading has allowed Kamau to earn an extra income alongside his traditional day job.

Kamau is still seen as a newbie in Forex trading, but the progress made on the path of becoming one of the most famous Forex traders in Kenya is without a doubt amazing. For two years Sylvia found, read and learned as much as possible on how to become a successful forex trader in Kenya. Muchai signed up to multiple online trading courses, opened numerous demo accounts, and attended trading seminars both on and offline.

Patrick Mahinge can best be described as a serial webpreneur who started trading forex in Mahinge does not hold any academic qualifications in finance and studied Journalism at Egerton University. Eight years ago, after failing to secure a formal employment, he started looking into online forex trading. Patrick Mahinge is the founder of the Kenya Forex Firm, which provides training and portfolio management services for potential forex traders situated in Kenya.

He also works as an online blogger and builds new businesses from home. Vincent Nyagaka is forex trader with over 6 years of experience in the field. He decided to venture into forex trading after his traditional income was not sufficient, purchasing online courses and learning as much as possible.

Nyagaka later founded Benstride where he teaches students on how to trade in Forex.

Is it worth it? QSSK-LA-LEGAL ASSISTANT. com 4. Asia Singapore India Philippines Pakistan Malaysia Nepal Sri Lanka Vietnam Maldives Thailand Hong Kong Japan. Top CFD Forex Brokers. Our client, a dynamic forex bureau in Nairobi is seeking to recruitto assist in the daily operations of their respective branches. The traders in the financial markets lose money, as losing is one of the aspects of trading.

Categories:

• Binary Options online
• Forex Brokers
• Forex
• Binary Options
• Forex Bitcoin