Experts rate the Best Online Broker in Kenya for 2023
If you’re a Kenyan trader looking to dive into Forex trading, you might wonder how to do it. First, you must assess the choice of an online Broker to trade with. This is essential because the security of your funds, profit, and opportunities depend on it.
You can make the right choice by researching each online Broker in Kenya and paying attention to their credibility, reputation, fees, and services. Ensure that you settle on a Broker who offers an online trading platform that’s user-friendly, secure, and provides access to real-time market data.
Traders Union experts have spent quality time assessing the best online Brokers in Kenya for your convenience. This post will highlight a list of 5 best online Brokers in Kenya as published by Traders Union
Continue reading to learn more
Best Online Broker in Kenya for 2023
According to Traders Union experts, the best online Broker in Kenya are as follows;
RoboForex – Best in Kenya for 2023
RoboForex’s bonus schemes are its strongest suit. If a trader deposits $10 or more into their account, they will receive a $30 Welcome Bonus. In addition, the broker offers a 120% traditional bonus on the first deposit and subsequent account replenishments. Additional benefits include 5%-15% cash back on costs based on trading volume and 10% more funds for more than 1,000 trades.
Except for R StockTrader, the minimum deposit on all accounts is $10. The minimum amount required to trade stocks on the R StocksTrader platform and copy transactions on the CopyFx platform is $100. The spread on Prime and ECN accounts is floating from 0 pips to 1.3 pips on Pro and ProCent accounts. This account allows you to trade 36 currency pairs, commodities, and CFDs.
Revolut – Best in Kenya for 2023
Revolut provides commission-free trading with no minimum deposit. Stocks, cryptocurrency, and precious metals can all be traded. Client monies are stored in separate accounts, which ensures their safety. Because Revolut offers fractional share trading and no monthly brokerage cost per transaction, you can begin with a small investment. Deposits can be made in twenty-eight currencies, but the broker converts them to USD because trading is only available on the US stock exchange.
Revolut offers investments in over 800 American and worldwide firms, as well as cryptocurrencies and precious metals. The broker caters to independent traders and does not provide financial advice or asset management for clients, but social trading is accessible for beginners. The smartphone app includes a list of successful traders who provide connections to their trading platforms for copying transactions.
eToro – Best in Kenya for 2023
You can use eToro to invest in over 3,000 stock assets, including zero fees. The minimum deposit and leverage vary depending on the country of registration of a trader. Trading is available in mobile apps and on the web platform on any device. You can deposit and withdraw money via debit/credit cards, bank transfers, and electronic payment systems. The broker offers margin trading, various bonuses, and partner rewards.
CapTrader – Best in Kenya for 2023
CapTrader provides its clients access to over 70,000 assets and trading instruments, such as currency pairs, equities, ETFs, mutual funds, commodities, futures, options, and CFDs. Marginal trading is possible, with leverage ranging from 1:5 to 1:20. Clients of the broker can use a free demo account to evaluate the platform and trading conditions of CapTrader.
CapTrader is subject to regulation by Interactive Brokers’ licenses, which regulators in Ireland and the United Kingdom issue. The broker is also licensed in Germany. It is a critical aspect in terms of dependability. As a result, CapTrader is a dependable platform with a diverse collection of features aimed mainly at experienced traders.
Interactive Brokers – Best in Kenya for 2023
Interactive Brokers is aggressively expanding, providing services to investors regardless of trading expertise. The broker does not demand a fixed minimum deposit for this purpose but has margin requirements for accounts of various structures to ensure financial safety when trading. The quantity of the leverage and the margin call and stop-out levels are directly related to the asset the client is trading.
