If you are in Kenya and want to reduce your forex trading costs, you should deal with a regulated broker with low spreads. This traders union article will introduce you to the 5 regulated brokers with the best price.
- RoboForex
- Capital.com
- Blackbull markets
Roboforex
RoboForex is one of the most reliable brokers with low commissions, accepting Kenyan traders. The company is based in Belize and has offices in Europe, including Cyprus, Gibraltar and New Zealand. The company is licensed in its home country. IFSC (International Financial Services Commission of Belize). RoboForex is an award-winning brokerage firm offering access to more than 12,000 assets in the financial markets.
Kenyan traders can choose from several account types depending on their level and trading style/method.
RoboForex account types
- Professional Standard
- Percent
- Main
- ECN
- RstockTrader
Traders union experts noted that these accounts are offered on RoboForex’s own user-friendly platform, along with MetaTrader and cTrader. Traders enjoy low trading costs as well as bonuses and discount programmes for large traders.
RoboForex disadvantages
- Withdrawal fees apply
- Traders have to pay a withdrawal fee to this broker. Many competitors do not charge customers for deposits and withdrawals.
Capital.com
Capital.com is a London-based forex and CFD broker founded in 2016.The brokerage company offers the ability to trade a variety of instruments such as currency pairs, indices, commodities, cryptocurrencies, stocks and CFDs.
Capital.com is regulated in the United Kingdom by the Financial Conduct Authority, FCA and is considered one of the best forex brokers in Kenya. The broker is also licensed by Cyprus Regulatory Authority, CySEC and the National Bank of Belarus, NBRB. The broker offers easy-to-use trading platforms which are suitable for both beginners and experienced traders. A low minimum deposit and competitive commissions make the company attractive to Kenyan traders. There are no commissions for trading accounts here. There are no deposit or withdrawal fees. Swap commissions only apply to the leverage offered and not to the trader’s investments.
Capital.com offers quality training materials and market research to help you make the right trading decisions. Its support team is always available on weekdays. Traders can contact them by phone, email or chat on their website.
Blackbull Markets
BlackBull Markets is a reliable and respected Forex and CFD broker based in New Zealand. The company has offices in the UK, New York, Jakarta and Malaysia. BlackBull Markets is licensed by the Financial Markets Authority of New Zealand (FMA) and the Seychelles Financial Services Authority (FSA). The company is a true ECN broker, offering Kenyan traders direct access to a large pool of liquidity. The implication is that orders are matched to the best prices and executed at great speed.
The broker offers an account with zero spreads and very competitive commissions. Traders can take advantage of a range of useful trading tools, including free VPS and copy-trading. BlackBull Markets provides each client with a dedicated account manager. Customer service is available 24 hours a day, seven days a week. Traders in some parts of the world have a toll free line to contact customer support. Support is also available via live chat and email.
