Many people in Kenya use trading platforms to speculate on the direction of currency. These platforms are usually operated by a licensed broker. They must be headquartered in Kenya. These platforms are used by retail currency traders to speculate on currency values. There are a few different types of platforms. These include Hotforex, Scope Markets, and EGM Securities.
XM
In Kenya, you can use one of the many XM trading platforms. The trading platforms provide a wide range of tradable assets, with low fees and no commission. They also offer a mobile application that makes it easy for you to buy and sell tradable assets on the go. These brokers are regulated by the Capital Markets Authority (CMA) to ensure that they offer the best service to their clients.
Hotforex
If you live in Kenya and you would like to trade the forex, the best place to start is by choosing a reputable broker. This broker should be well regulated and offer the best trading conditions. To be able to trade successfully, you should first verify your identity. Then, you should fund your account with the necessary amount. You should also pay attention to the capital management rules set by the broker. In Kenya, some brokers support deposits via Mpesa while others provide other methods such as PayPal and Skrill. The platform should support several currencies and the trading environment should be easy to use.
Scope Markets
For investors in Kenya, Scope Markets offers a number of trading platforms to choose from. The company offers MT5 trading for free, competitive trading conditions, multilingual customer service, and educational materials in multiple languages. Besides, their platforms give investors access to a variety of global markets, including stocks, indices, commodities, and CFDs.
EGM Securities
You can choose to trade in the stock market in Kenya through EGM Securities’ online trading platforms. It is important to note that the trading platforms have different rates and fees for different products. The commission charged by EGM Securities is higher than market rates. It is also important to note that you can use a demo account to practice and learn the basics of trading. The demo account is free and has unlimited usage. It also includes access to the MT4 platform.
Pepperstone
The Pepperstone trading platform is available in Kenya for people interested in foreign exchange trading. It is a regulated broker with strict Anti-Money Laundering (AML) standards. The firm also ensures that non-profit withdrawals are returned to the source of deposit. However, there are some limitations to Pepperstone’s services. For starters, it accepts only USD and GBP as base currencies. This means that those from Kenya with KES bank accounts must pay currency conversion fees. Pepperstone charges the current spot rate minus up to one percent for currency conversion.
EasyMarkets
The EasyMarkets trading platform is a leading online forex broker that is regulated by both CySEC and ASIC. The company has over 200,000 clients in over 160 countries, and offers a variety of trading products and services. The company offers a demo account that you can use to practice trading and get a feel for how the system works. It also offers a number of different trading platforms, including MetaTrader 4.
