Fbs forex kenya

Perfectly suits those who are just starting on their way to success on forex if you are 18+ years old, you can join FBS and begin your FX journey.

No deposit forex bonuses

To trade, you need a brokerage account and sufficient knowledge on how assets behave in the financial markets. Start with studying the basics with our free educational materials and creating an FBS account . You may want to test the environment with virtual money with a demo account. Once you are ready, enter the real market and trade to succeed.

Cent account

Perfectly suits those who are just starting on their way to success on forex

Trading conditions

Cent account

Cent account is a trading account on which the balance is displayed in cents, and transactions are carried out in cents as well. It means that if you deposit $10, you will have 1000 cents in your account. Trading on the cent account is low-risk. Therefore, it is an excellent choice for forex novices. Moreover, this type of account can be an attractive option for experienced traders who want to check new strategies. The cent account allows people to trade smaller lot sizes and open an account with a lower initial deposit than any other account. To open the cent account at FBS, you need to make an initial deposit of $1 only – less than you pay for a cup of coffee!
The cent account supports the following trading instruments: 35 currency pairs, 4 metals, 6 CFD, 33 stocks. At FBS, the cent account is available on metatrader4 . If you want to test the account first, feel free to try a demo version!
Open the cent account at FBS and reach new heights in trading!

Also, all account types except ECN support swap-free trading.

Instant opening

Frequently asked questions

How to open an FBS account?

Click the ‘open account’ button on our website and proceed to the personal area. Before you can start trading, pass a profile verification. Confirm your email and phone number, get your ID verified. This procedure guarantees the safety of your funds and identity. Once you are done with all the checks, go to the preferred trading platform, and start trading.

How to withdraw the money you earned with FBS?

The procedure is very straightforward. Go to the withdrawal page on the website or the finances section of the FBS personal area and access withdrawal. You can get the earned money via the same payment system that you used for depositing. In case you funded the account via various methods, withdraw your profit via the same methods in the ratio according to the deposited sums.

How to start trading?

If you are 18+ years old, you can join FBS and begin your FX journey. To trade, you need a brokerage account and sufficient knowledge on how assets behave in the financial markets. Start with studying the basics with our free educational materials and creating an FBS account . You may want to test the environment with virtual money with a demo account. Once you are ready, enter the real market and trade to succeed.

How to activate level up bonus?

Open level up bonus account in web or mobile version of FBS personal area and get up to $140 free to your account.

FBS forex review

User review

FBS forex is an international online broker that offers trading services in 190+ countries. It is home to a community of over 370,000 partners and 12,000,000 clients. The FX & CFD broker regularly organizes special events and seminars, and provides clients trading material, cutting-edge technology, and the latest forex trading strategies. These educational events are useful not only to new traders, but also to seasoned ones.

• learning opportunities
• promotions and bonuses
• customer support
• excellent trading conditions

• users only trade cryptocurrencies but don’t own them.

Established in 2009, FBS has won a number of international awards as follows:

Best FX broker indonesia

Best FX IB program

Best forex broker thailand

Best forex broker southeast asia

Best international forex broker

Top IB program 2016

Best customer service broker asia 2016

Highly recommended broker insurance company in indonesia

Best forex brand

Best safety of client funds asia 2015

Best FX IB program china (2017)

Best forex broker asia 2018

Best investor education 2017

Here are some facts and figures about FBS:

7000 partner and trader accounts opened daily

Withdrawal requests made every 20 seconds

Half of FBS clients multiply their first deposit by up to 10x

80% clients remain loyal to FBS

48% clients consider FBS income as their main source of income

5 reasons for south african traders to choose FBS forex

South african investors choose FBS for the following reasons:

Learning opportunities – you can trade at FBS forex even if you do not know anything about trading because FBS forex will teach you everything you need to know.

Promotions and bonuses – the broker rewards new customers with special deposit bonuses.

Customer support – customer support is available through phone or chat or callback 24 hours per day and seven days per week in your native language. It also encourages social interaction via its accounts on twitter and facebook.

Banking methods – FBS forex allows traders to make deposits and withdrawals through a wide range of local and international methods.

Excellent trading conditions – you will find the best trading condition at FBS:

$1 minimum deposit

Leverage of up to 1:3000

Spreads from 0 pip

No requotes

Minimum order volume

Split second trade execution

Is FBS forex reliable forex broker?

South african traders and investors can trust FBS because it is well-regulated by the international financial services commission (IFSC), which makes sure that customers are provided a safe and secure trading environment.

The IFSC also contributes to the fast development and healthy growth of the market. It monitors investment firms to ensure that they comply with the regulatory and legislative framework. All this indicates that working with FBS is safe. Customers are well protected by international financial laws.

Getting started – different account types

To open a trader account at FBS.Com, you have to click on the open an account link. You can either register through your G+ or facebook account or by entering your name and email address.

FBS.Com offers several types of accounts, suitable for a variety of trading goals, skills, and requirements. All types of accounts, except ECN accounts, offer trading instruments such as 4 metals, 35 pairs of currencies, 4 cryptocurrencies, and 3 cfds. Also, islamic accounts or swap-free accounts are available for all account types, except ECN accounts.

Standard account – these accounts feature $100 minimum deposit, $0 commission, and floating spreads from 0.5 pip.

Cent account – these accounts feature $1 initial deposit, $0 commission, and floating spreads from 1 pip.

Micro account – these accounts feature $5 initial deposit, $0 commission, and fixed spreads from 3 pips.

Zero spread – the initial deposit is $500, the fixed spread is 0 pip, and the commission is $20 per lot.

ECN account – open an ECN account on a minimum deposit of $1000. The commission is $6, the leverage is up to 1:500, and the floating spread starts from -1 pip.

Copytrade platform – earn profits by copying the trades of professional traders. FBS copytrade is a social trading platform that enables investors to choose trading strategies, automatically copy them, and make huge profits without taking any risks. You can also allow others to copy your trades in exchange for a percentage of the commission.

Trading instruments

FBS.Com offers the following trading instruments:

Forex – trade currency pairs such as AUD/JPY, AUD/USD, AUD/CAD, and others.

Metals – trade metals such as platinum, palladium, gold, and silver.

Stocks – trade stocks of well-known companies such as amazon, coca-cola, google, mastercard, walmart, and tesla.

Cryptocurrencies – FBS offers bitcoin, litecoin, dash, and ethereum trading.

Cfds – trade cfds on WTI, DAX30, and BRN.

Trading platforms

You can choose from the following trading platforms at FBS.Com:

FBS trader

FBS trader is an app that offers unlimited opportunities. You can download it at the apple store or google play store. It is a powerful, but lightweight app that enables you to access your trades round the clock from your smartphone or tablet.

Though simpler, it is as good at metatrader, enabling clients to access international markets at any time they please. Traders can use more than 100 payment methods to make deposits and withdrawals. In addition, the best customer support is available round the clock.

Metatrader

This platform comes with the following features:

41+ tools, cfds, futures, and currency pairs

Low spreads

Expert advisors (eas)

Single-click trading

News embedded

Access all platforms with one account

50 charting tools and indicators

Hedging positions

3 varieties of charts

The metatrader 4 platform is available for windows, android, ios, webtrader, mac OS, and multiterminal. The metatrader 5 platform is available for windows, android, ios, mac OS, and webtrader.

Payment methods at FBS.Com

You can use the following payment methods to load your account:

Visa

Sticpay

Neteller

Skrill

Perfect money

Local exchanges

Bitwallet

The above-mentioned methods can also be used to request payout. The commission varies from one method to the other and so does the withdrawal time frame.

7 promos & bonus offers at FBS

FBS offers the following promotions and bonuses to create a lively trading environment:

FBS traders parties – parties are fun-filled events, brimming over with luxury and social interaction.

Get car from FBS – A number of clients have already won luxury cars at FBS forex. As long as you continue to actively trade, you stand the chance of winning a car.

Welcome bonus – you can get started with a trade 100 bonus at FBS. The CFD & forex broker will give you a real account with $100 so that you can start trading. In addition, you will receive a set of educational materials, absolutely free.

100% deposit bonus – if you activate your 100% deposit bonus, you can trade with double the amount you deposited. To get your bonus, you have to register a new player account and make a deposit.

Cashback – you can get cashback of up to $15 per lot.

Leverage 1:3000 – FBS is the only broker that offers a leverage of 1:3000. To get this leverage, you have to open a zero spread or standard account. If you deposit $10, you can trade like as if you have $30,000.

Partner bonus – the new partner bonus at FBS enables partners to add as much as $3000 to their monthly income. The bonus grows with the amount their clients deposit in their accounts and their trading volume.

To participate in the bonus program, you have to create a partner account and invite clients. Whenever one of their clients trades a lot, they will get a commission of up to $80. Every month, they can claim a bonus according to their performance.

Five unique features of FBS forex

FBS forex offers the following special services:

Fix rate – thanks to this feature, FBS forex clients don’t have to worry about fluctuations in the exchange rate. They can always make deposits and withdrawals at fixed rates.

Loyalty program – FBS rewards traders’ loyalty with gifts ranging from luxury cars to digital products. Whenever you trade on FBS forex, you will earn status points. Based on the number of points earned, clients will be assigned a status and awarded benefits. To become a member of the loyalty program, customers have to confirm their email and identity.

VPS server – traders can get a VPS server free of charge and make eas work for them round the clock even if they are not online. This service comes with the following benefits:

Protection from interruptions in internet connection and power outages

Install any EA

Stable and fast connection

Operates 24/7

Metatrader 4 multiterminal – the MT4 multiterminal enables partners to manage several client accounts at the same time. They can trade on their clients’ accounts, control open position statuses and pending orders, and receive news and quotes in real time.

Analytics and education – new as well as professional traders can use a wide range of educational resources such as forex analytics, webinars, market analytics, forex education, and trader tools.

Customers can use tools such as currency converters, forex calculators, and economic calendars to trade better. The educational material includes a glossary, seminars, video tutorials, webinars, trader tips, forex guidebooks, and forex books.

FBS forex faqs

Q1: how is a demo account different from a live trading account?

A: clients can use a demo account to test trading strategies, learn forex trading, and test expert advisors (eas) for free. They can use virtual funds to trade under actual market conditions.

Q2: how many accounts can open at FBS?

A: you can open one account under each account type. To qualify to open as many as 10 accounts under each account type, traders have to verify their personal area, change their confirmation method from email to text message, and ensure that the total deposits in all their accounts in their personal area is at least $100 or more.

Q3: can I make deposits in ZAR?

A: yes, you can make deposits in ZAR, but the FX broker will convert your zars into EUR or USD according to the current rates on the exchange.

Q4: what trading strategies does FBS allow?

A: FBS does not impose any restrictions on trading strategies. You can use scalping, hedging, or automated trading with the assistance of eas.

Q5: who can join the loyalty program at FBS?

A: anybody can join the FBS loyalty program, provided they have a fully verified partner or trader account at FBS.

Conclusion – our opinion of FBS forex

Having traded at FBS forex for several days, we have developed an excellent opinion of FBS forex. The CFD & FX broker may not be regulated in south africa, but it accepts south african traders and allows them to make deposits in their home currency. The customer support is excellent. New players can use the free educational material to learn about trading and open demo accounts to perfect their skills.

FBS forex review

FBS forex offers the following special services:

FBS review

Finance brokerage services

FBS are forex brokers. FBS offers the metatrader 4, metatrader 5, and MT mobile forex online trading top platforms. FBS.Com offers over 30 forex pairs, stocks, gold, silver, other metals, and cfds for your personal investment and trading options.

Related websites of this company include F-B-S.Com, hotoption.Com and https://fbs.Ae/.

February 2011: the website appears to be blocked in the USA.

Other websites of this company include fibexch.Com, fbs.Ae, fbs.Id, fbsforex.Com, fbs.Cn, jpfbs.Com, esfbs.Com, ptfbs.Com, fbs.Ae, vnfbs.Com etc.

Broker details

Video

Live discussion

Join live discussion of FBS.Com on our forum

FBS.Com profile provided by regina FBS, sep 5, 2019

FBS is an international broker with more than 190 countries of presence. 13 000 000 traders and 370 000 partners have already chosen FBS as their preferred forex company. We work since 2009 and provide fast and honest services.

Working with us is easy, convenient and, most of all, profitable. We are happy to offer exclusive terms unprecedented in the forex market.

To provide the best customer experience we organize seminars and special events, providing our clients with training materials, cutting-edge trading technologies and the latest strategies on the forex market. Both newbie and professional traders will find these sessions useful.

If you prefer to choose the best for yourself, FBS is just right for you. We even launched a COPYTRADE app which allows you to earn money both by copying a successful trader and by having people invest in your trading.

Once a client of FBS – always a client of FBS.
Www.Fbs.Com

Unique trading conditions for traders:
• minimal deposit of $1
• spread starting from -1 pip
• leverage up to 1:3000
• 35 currency pairs, 4 metals, 3 CFD
• split-second execution
• no requotes
• minimal order volume of 0.01 lot
• quotes precision of 0.00001
• trade with any advisors or strategies
• customer support in 15 languages
• deposits and withdrawals via visa/mastercard, wire transfer, neteller, skrill, perfect money, fasapay; local indonesian banks: bank central asia, mandiri, bank negara indonesia, bank rakyat indonesia, OCBC NISP; thai banks: krungthai bank, krungsri bank, siam commercial bank, kasikorn bank, bangkok bank; vietnamese bank: vietcombank. Lots of exchangers in different countries

Permanent promotions:
• $100 bonus - work out for more
• 100% bonus on each deposit
• cashback up to $7 per 1 lot

Loyalty program:
• VPS service
• guaranteed lucky T-shirt for a deposit of $500 or more
• guaranteed iphone X gift for a deposit of $5000 and 500 traded lots
• mercedes S-class for platinum status
• VIP membership

Partner program:
• $10 commission on EUR/USD
• monthly partner bonus up to $3000
• 3 levels of payments (15% from 2nd level partners and 5% from 3rd level partners)

Awards:
• best FX broker vietnam 2019
• most progressive broker europe 2019
• best FX broker europe 2019
• most promising broker 2018
• best forex broker asia 2018
• best investor education 2017
• best FX IB program

Review

Introduction

FBS is an international online trading brokerage that was launched out of belize back in 2009. Since their establishment, FBS have expanded their trading services to over 190 countries around the world and now service 8,000,000 traders and 315,000 partners across the globe and supports 17 different languages. The brokerage provides a simple and easy trading experience with a selection of trading platforms and wide array of tradeable instruments.

FBS is obviously a successful online trading brokerage and have won countless awards since their establishment in 2009. Some of their most notable awards include; best FX IB program, best FX broker indonesia, best forex broker southeast asia, best forex broker thailand, and best international forex broker. As well, FBS has won many other awards for various reasons.

Not only has the FBS brokerage seen great success, but they also provide safe and reliable online trading services to their clients. FBS is licensed and regulated by the international financial services commission (IFSC) of belize with license number IFSC/60/230/TS/18.

Trading conditions

The FBS online trading brokerage is very accepting and supportive of nearly every type of trader. FBS offers their clients the choice between 6 different trading accounts, each with slight differences to better suit their needs. Overall, the trading conditions outlined in these accounts vary but are very favourable. See the trading accounts and their trading conditions overviewed below.

Deposit from $1.00

Floating spreads

Zero commission trading

Up to 1:1000 leverage

Market execution

Deposit from $5.00

Fixed spreads

Zero commission trading

Up to 1:3000 leverage

Market execution

Deposit from $100

Floating spreads

Zero commission trading

Up to 1:3000 leverage

Market execution

Deposit from $500

Fixed spreads

Zero commission trading

Up to 1:3000 leverage

Market execution

Deposit from $500

Floating spreads

Zero commission trading

Up to 1:500 leverage

Market execution

Deposit from $1000

Floating spreads

Zero commission trading

Up to 1:500 leverage

ECN execution

Products

The FBS trading brokerage features a wide array of tradeable instruments across the global markets for their clients to trade. For instance, traders can participate in the trading of over 35 forex currency pairs, 4 precious metals, 3 cfds, and 4 cryptocurrency cfds. While the extent of tradeable assets offered is rather small compared to some brokers, the range of markets available to trade in are wide.

Regulation

FBS is not widely regulated even though they are an international online trading brokerage. The only regulatory authority governing the FBS trading brokerage is the international financial services commission (IFSC) with license number IFSC/60/230/TS/18. FBS is an offshore trading brokerage and therefore is not as reliable as some brokers. FBS’s headquarters are located at no.1 orchid garden street, belmopan, belize, C.A.

Platforms

The FBS online trading brokerage provides their clients with the choice between two of the most highly sought-after trading platforms, the metatrader 4 (MT4) and the metatrader 5 (MT5) trading platforms. Both these platforms are highly advanced and sophisticated while at the same time very user-friendly and easy to use.

The metatrader platforms offered by FBS consist of both the webtrader platforms and the downloadable platforms. All platforms are fully compatible with windows, mac, and linux operating systems as well as multiple web browsers for the web-based versions.

All in all, both the MT4 and MT5 trading platforms offered are relatively the same. The main difference between the two is that the MT5 trading platform has an upgraded trading interface, a few additional features, and is more suitable for the trading of all financial assets other than forex. Therefore, traders looking to participate solely in the forex markets will choose the MT4 platform and traders more focused on a wider variety of markets will choose the MT5 platform.

Both platforms feature auto trading functionality with expert advisors (eas) as well as a sophisticated charting package with three chart types, over 50 technical indicators, and a variety of drawing and analysis tools.

Mobile trading

Both the MT4 and MT5 trading platforms offered by FBS feature downloadable mobile trading applications for both ios and android mobile devices. The mobile trading app can be downloaded from the apple app store and the google play store for free. The trading apps are fully optimized for the mobile screen and feature all the same functionality as the desktop platforms. As well, traders wanting to use the FBS website on a mobile device can, as it has been optimized to work on mobile devices too.

Pricing

The FBS trading brokerage is accepting of all experience levels of traders and therefore provides trading accounts with minimum deposits from as low as $1.00 and professional ECN trading accounts with minimum deposits from $1,000. As for the available spreads, FBS provides floating spreads as low as 0.2 pips, fixed spreads as low as 3 pips, and trading without spread, but with a commission starting from $20. All in all, the spreads and commissions offered by FBS are quite favourable and competitive with the industry standards.

Deposits & withdrawals

FBS provides their traders with an extensive array of deposit and withdrawal options with a total of 72. All methods of deposit are free of charge and withdrawals have varying commissions depending on the method used.

Deposits via the most popular e-wallets and credit cards are instant, and all other methods take between 15 – 20 minutes or a maximum of 48 hours to complete. Withdrawals generally take between 15 – 20 minutes or a maximum of 48 hours to complete and come with a small commission for most methods.

See below, a list of the most popular deposit and withdrawal methods.

Visa/mastercard

Neteller

Skrill

Bitcoin by skrill

Perfectmoney

Mybitwallet

OKPAY

Astropay

Customer support

The level of customer care and support provided by FBS is truly phenomenal. Traders can reach support representatives 24 hours a day, 7 days a week via email, live chat, telegram, wechat, and telephone with multiple international numbers. Also, clients can schedule a call back if they prefer not to wait. However, support representatives are generally quick to respond and friendly with their responses. Additional methods of support include an extensive FAQ page and interaction via various social media channels.

Research & education

FBS provides their traders with a comprehensive education and research centre that’s packed with educational resources and content. For instance, traders have access to market analytics such as forex news, daily market analysis, and forex tv. They also have access to trader tools including an economic calendar, central bank rates, and forex calculators. As for educational material, traders are provided with a forex guidebook, tips for traders, webinars, video lessons, seminars, and a glossary. All in all, we were very impressed with the extent of educational content and market research resources.

Noteworthy points

The FBS trading brokerage is highly successful and has an excellent reputation in the online trading industry. Therefore, the brokerage has various noteworthy points worth mentioning. For instance, FBS stands above the rest of online trading brokerages in the following areas.

Extent of deposit and withdrawal options.

Variety of educational content and resources.

Exceptional selection of trading platforms.

Conclusion

The FBS online trading brokerage is a widely used international forex and cfds trading brokerage that features an array of tradeable assets across the global markets. FBS is an offshore trading brokerage which raises some concerns, however, they have an excellent reputation and are licensed and regulated by the IFSC. FBS is supporting of all types and experience levels of traders and offers them favourable trading conditions and low commissions and fees. Traders at FBS have an excellent selection of trading platforms to choose from and can trade a variety of financial assets with all the tools and features necessary to succeed. All in all, FBS is a solid online trading brokerage and could be the right broker for you.

Comparison

Broker comparison maecenas porta rhoncus dui ut congue. Donec luctus non sem eu euismod. Ut rhoncus mauris non bibendum congue. Donec maximus ipsum a lectus sollicitudin.

FBS review

Finance brokerage services

Related websites of this company include F-B-S.Com, hotoption.Com and https://fbs.Ae/.

February 2011: the website appears to be blocked in the USA.

Other websites of this company include fibexch.Com, fbs.Ae, fbs.Id, fbsforex.Com, fbs.Cn, jpfbs.Com, esfbs.Com, ptfbs.Com, fbs.Ae, vnfbs.Com etc.

Broker details

Video

Live discussion

Join live discussion of FBS.Com on our forum

FBS.Com profile provided by regina FBS, sep 5, 2019

Working with us is easy, convenient and, most of all, profitable. We are happy to offer exclusive terms unprecedented in the forex market.

Once a client of FBS – always a client of FBS.
Www.Fbs.Com

Permanent promotions:
• $100 bonus - work out for more
• 100% bonus on each deposit
• cashback up to $7 per 1 lot

Partner program:
• $10 commission on EUR/USD
• monthly partner bonus up to $3000
• 3 levels of payments (15% from 2nd level partners and 5% from 3rd level partners)

TRADE 100 BONUS —
WORK OUT FOR MORE

Bonus information

Get our trade 100 bonus and start your forex career! It works the same way as in sport – first you train and learn, then you earn and get stronger, faster and more efficient. Trade 100 bonus is your personal tool for toning up your brain

What you get with trade 100 bonus

FREE $100 TO TRADE

FBS gives you real money to start your forex journey and trade real

BOOST YOUR SKILLS

To level up your trading you need power-ups: besides $100 you get a full set of educational materials

START WITHOUT DEPOSIT

Learn how to trade and make a real profit out of it – with no need for your own money involved in the process

How can trade 100 bonus help

Trade 100 bonus gives beginner traders a chance to study the basics, get fully involved in the process of real, thorough and effective trading. And the best part is – you don’t need any initial investments for it! Take your time to get to know forex and FBS platform, test your hand, gear up with knowledge – with fewer risks involved

If you are an experienced trader, trade 100 bonus is your chance to get familiar with FBS platform. Trade on major currency pairs, enjoy low spreads and swap free option for your trading and, of course, make some profit out of our welcome gift!

How to get $100 of profit?

Use the money to get 30 days of active trading and trade 5 lots

Succeed and get your profit of $100

Bonus conditions

The bonus is available on metatrader5 platform;

The order volume is 0.01 lot;

The sum available for withdrawal is 100 USD;

The required number of active trading days is 30 (active trading day is a day when the order was opened or closed);

The maximum number of positions opened at the same time is 5;

Client should have at least 5 lots traded in the period of 30 active trading days

View the full terms and conditions in the personal area

Instant opening

Withdraw with your local payment systems

Contact us

Zopim

Wechat

Fb-msg

Viber

Line

The website is operated by FBS markets inc.; registration no. 119717; FBS markets inc is regulated by IFSC, license IFSC/000102/124; address: 2118, guava street, belize belama phase 1, belize

The service is not provided in the following countries: japan, USA, canada, UK, myanmar, brazil, malaysia, israel and the islamic republic of iran

Payment transactions are managed by НDС technologies ltd.; registration no. HE 370778; address: arch. Makariou III & vyronos, P. Lordos center, block B, office 203

For cooperation, please contact us via support@fbs.Com or +35 7251 23212.

Risk warning: before you start trading, you should completely understand the risks involved with the currency market and trading on margin, and you should be aware of your level of experience.

Any copying, reproduction, republication, as well as on the internet resources of any materials from this website is possible only upon written permission.

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “accept” button, you agree to our privacy policy.

Your request is accepted

Manager will call your number

Next callback request for this phone number
will be available in

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Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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Beginner forex book will guide you through the world of trading.

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Review

Introduction

Trading conditions

Deposit from $1.00

Floating spreads

Zero commission trading

Up to 1:1000 leverage

Market execution

Deposit from $5.00

Fixed spreads

Zero commission trading

Up to 1:3000 leverage

Market execution

Deposit from $100

Floating spreads

Zero commission trading

Up to 1:3000 leverage

Market execution

Deposit from $500

Fixed spreads

Zero commission trading

Up to 1:3000 leverage

Market execution

Deposit from $500

Floating spreads

Zero commission trading

Up to 1:500 leverage

Market execution

Deposit from $1000

Floating spreads

Zero commission trading

Up to 1:500 leverage

ECN execution

Products

Regulation

Platforms

Mobile trading

Pricing

Deposits & withdrawals

See below, a list of the most popular deposit and withdrawal methods.

Visa/mastercard

Neteller

Skrill

Bitcoin by skrill

Perfectmoney

Mybitwallet

OKPAY

Astropay

Customer support

Research & education

Noteworthy points

Extent of deposit and withdrawal options.

Variety of educational content and resources.

Exceptional selection of trading platforms.

Conclusion

Comparison

Broker comparison maecenas porta rhoncus dui ut congue. Donec luctus non sem eu euismod. Ut rhoncus mauris non bibendum congue. Donec maximus ipsum a lectus sollicitudin.

Forex trading in kenya

Welcome to forex kenya, the first website dedicated to forex trading in kenya. For those of you who are not familiar with the forex market, it is enough to say that forex stands for ‘foreign exchange’ and it represents the trading of currencies one against another. By trading on the forex market, kenyans can make money by correctly guessing which currency is going to raise and which one is going to fall.

How does forex trading work?

To easily explain how forex trading works we will give you a simple example. Let’s consider that you bought 10,000 US dollars in january 2015 at the rate of 90.75 kenyan shillings for one dollar. You paid a total of 907,500 kenyan shillings (KES). After holding the US dollars (USD) for six months you decided to sell them in july 2015 at the rate of 100 KES per USD. You would have gotten exactly 1 million shillings and made a profit of 92,500 shillings in six months, since you bought the dollars cheaper than you sold them.

This is how you make money by trading currencies. In the above example you probably saw that you needed 10,000 dollars to make a profit of about 1,000 in six month. That’s a lot of money and a lot of time, but don’t worry, there are ways to overcome this issues very easy.

Forex brokers and leverage

Trading forex is done through a forex broker. The broker is a specialized company that creates the perfect environment for traders to take advantage of the currency fluctuations in no time. Opening an account with a forex broker will allow you to trade on the international forex markets with huge amounts of money and make profits much faster. How is that possible? Through leverage.

Forex brokers offer leverage in order to allow their clients to trade high amounts of money. A broker that gives you a leverage of 1:200 allows you to trade 200 dollars for every dollar you have on your account. If you make a deposit of 100 USD you are able to trade worth of 20,000 USD because of the leverage effect. Why is the broker allowing this? Because he knows currency markets move very slow, and in order to be able to make significant profits in short intervals of time you need to trade with lots of money.

Here is another example to explain why the broker gives you leverage. Let’s consider the currency pair EUR/USD, the most traded currency pair in the world. At the time of writing this article, the rate for EUR/USD is 1.1031 which means that one euro costs 1.1031 US dollars. In order to buy 10,000 euros you need to pay 11,031 US dollars. Let’s say a trader buys 10,000 euros through his forex broker at the above mentioned rate, and two days later sells them at 1.1131 (a difference of 100 pips which means a movement of only 0.9% which happens frequently in a two days period). Our trader would make a profit of exactly 100 USD with this trade (notice that for the EUR/USD currency pair, one pip equals one dollar when trading 10,000 – the ‘pip’ is the fourth decimal of the rate). Since he made a profit of $100 in two days the broker knows that his risk is also limited in a two days period, and even if he loses he can’t lose too much. If the trade would have gone the wrong way in the same amount, he would lose $100 only. This is why the broker is willing to allow the trader to buy 10,000 euros while depositing only 100 dollars. In the worst case scenario when the trade goes bad and the loss gets to 100 dollars the broker will automatically close the trade and limit the loss to the total deposit.

To make a long story short, leverage is given by the brokers in order to help traders make bigger winnings at the risk of higher losses in shorter times. That means, trading more. The more you trade, the better it is for the broker, because of the so called ‘spread’, which is the difference between the buy and sell price of each currency pair. The best part is that forex spread are very low because competition among forex brokers pushed them to lower the spreads to be more attractive to clients. A typical spread for EUR/USD is 3 pips, which means the broker charges only 3 dollars for a trade worth 10,000 euros. In the above example when our trader won $100, the market moved 103 points for our trader to make a profit of 100 dollars and the broker a profit of 3 dollars (this is because of the 3 pips difference between the buying and selling price).

Forex brokers in kenya

Unfortunately there are no reliable forex brokers in kenya right now, so the only option kenyan traders have to profit from the forex market is to use an offshore broker (a broker from a foreign country). Luckily for us, there are many international brokers that accept traders from kenya and where you can easily deposit and withdraw money. You can open an account online in less than five minutes and deposit money with your debit card or other online payment methods such as skrill, neteller, webmoney, cash U, paysafecard and many more. Of course, you can also deposit with bank transfers if you want to make larger deposits or withdrawals.

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.

10 best
forex trading platforms and brokers in
kenya

Maximize
the stock
markets

With 1:2 leverage
on the world's
leading stocks

Kenya is one of the most noteworthy countries in africa and has been on the fore front of most of the developments that the african continent has gone through and has become one of the first countries in africa to develop all the infrastructure needed for seamless forex trading.

Multiple kenyan forex traders are beginners, and will be unsure as to what to look for in a great forex broker. Forex trading is fairly new in kenya, but more and more people are considering it to make a profit.

Questions often asked by beginners are “what is the best forex broker” and “how to choose the best forex broker”.

Traders need to understand the aspects of a forex broker and what makes it ideal for “you”. Here is what to look for in the best broker for forex trading:

The trading accounts and platforms

The trading support and tools offered

The customer care and services offered

The trading accounts offered by a forex broker are the main reason why a trader needs a broker, and they need to ensure that they are up to par, including the customer support and tools on offer.

Customer support is important because it is a certainty that any trader will come across some challenges while trading at some point in time. Traders must ensure that their chosen broker is available when they need them.

In general, the main reason behind forex’s popularity is the opportunity of having additional income, or replacing current employment income with trading income with forex trading which will offer more flexibility and higher income, if done right. Plus, the younger generation in kenya, and across african continent, are seeking better job opportunities than what the job market offers them. As forex trading requires only a laptop and an internet connection it is easy to access the forex market and a large number of free educational materials makes it possible for anyone to get the knowledge needed for trading. As a result, the number of people who starts trading and the number of successful kenyan forex traders in increasing.

What is forex trading?

Forex trading is the process of exchanging one currency for another, known as buying or selling currency pairs, based on predominant exchange rates from the forex market. The forex market is the largest global market, with nearly $6.59 trillion in currency traded on average, per day.

Maximize
the stock
markets

With 1:2 leverage
on the world's
leading stocks

Maximize
the stock
markets

With 1:2 leverage
on the world's
leading stocks

What challenges can A trader in kenya expect to face?

Every person can be successful in forex, and it is not too dependent on where they live. But there are some challenges that each trader can end up facing based on the environment. Here are some challenges traders in kenya might face.

A wrong approach to the financial market

If traders are considering to start in forex trading the ultimate goal is to be successful and make a profit. To do so, traders need to have the right approach to trading on the financial market, and finances in general. The wrong understanding of it and poor money management skills is a problem that is challenging to a large section of the population in african countries including kenya.

The reason behind it is the lack of financial knowledge. If a trader is striving to be successful in trading, they firstly need to make an investment in their own education. Not only a monetary investment, but also time and energy.

Setting unrealistic expectations on forex trading

This is to some degree the main reason which unites all traders starting out. Many traders turn to forex trading simply because it seems so lucrative and profitable that one can get rich almost overnight. Media and advertising tend to show the success stories of forex traders in kenya, and across the globe as an overnight miracle, yet these stories lack in showing how much effort and failure these stories include alongside the excellent profits acquired.

In any way, one should not have unrealistic expectations about forex trading. As a beginner, you should understand that trading requires knowledge, skills and a lot of practice and the success will not come right away when you start. You can still be successful and make high profits just not as fast as you might think from the beginning.

Quitting forex trading when the success is around the corner

Once a trader starts trading, they will lose money not because they are bad in trading or because it is impossible to make money through forex but simply because it is a part of the journey. Mistakes are more than natural when traders are inexperienced, and they shouldn’t feel defeated. Traders should analyse their mistakes and learn from them.

There are three people who come to mind when discussing well-known and successful forex trades in kenya.

Paul mugenda

Ken githaiga

Silah obegi

Paul mugenda’s story is one of “rags to riches” through the use of the foreign exchange market. Before his start in the forex market, mugenda was a relatively poor student enrolled in the technical university of kenya and had numerous financial responsibilities, including his studies.

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

Mugenda spent a large part of his time and effort investing in this pursuit, only to find that it did not pay off and this was when a friend introduced mugenda to the world of forex. His friend borrowed mugenda the money he needed to get started in the trade.

Unfortunately, when this happened, mugenda had yet to become acquainted with the world of FX and lost all of the money his friend had loaned him. Jumping ahead, within a few months, mugenda was making a reasonable income from his forex adventures and his wealth continued to accumulate. Mugenda was even able to go beyond kenya and create paris FX, a forex company that has gained significant profits in the past few years.

Githaiga’s rise to fame started with a simple google search. After githaiga graduated from college, he decided that a traditional office job setting was not ideal for him and he turned to google, searching how to make money online.

Through his google search, ken githaiga came across the concept of forex trading and he determined that it seemed like a perfect job for him.

This being said, githaiga still emphasizes that forex is by no means his full-time job. Githaiga gained most of his knowledge through the internet and he tries to be the person he needed when he was starting, sharing his knowledge gained through his successes and failures as a forex trader with other traders starting off.

Besides strategy, one of the biggest pieces of advice that githaiga provides is about how to minimize losses and he believes that in order to be successful in this field, individuals have to be able to accept losses and approach trading as a long-term goal.

Silah obegi is another forex trader from kenya who has encountered great success, albeit in a more traditional sense. He received a bachelor of business management from moi university and following his university career, he worked his way up in the field of finances. He is currently the C.E.O. At meta capital limited.

Thank to his experience relating in the financial fields he has been able to develop an automated forex trading system that is incredibly lucrative and his position as the director at nairobi school of forex allows him to share his knowledge of the forex trading system.

Beyond this list, there are many other kenyan forex traders who are still doing fairly well even though they haven’t as yet broken boundaries.

So, let's see, what we have: cent trading account suits perfectly to those who are just starting their way to success on forex. Trading conditions by FBS broker: initial deposit $1, floating spread from 1 pip, leverage up to 1:1000 at fbs forex kenya