Best Brokers in Kenya

Kenya is an old civilization. It has well established legal, financial and other systems in place. It has a financial services sector that also is quite old. It is around 70 years old and was started in the year 1950. It catered well to the entire East African market. Kenya is also a young country because more than 52 million people are under the age of 35. Therefore, there is quite a bit of expectations and hope as far as the future of this country is concerned.

An increasing number of Kenyans who belong to the middle class invest in FX trading at present. Consequently, the regional money market clean up from dodgy businesses was unavoidable.

If a fresh regional FX company is opened up by anybody, it will be imperative for them to get certification from the office of the CMA. It is important for any business to have at least Sh50 million capital so as to procure a license from the CMA. You will not come across any Forex brokerage perhaps because of this, or because the market in Kenya is rather small. However, this is not the same when we compare it to any other nation in Africa such as Nigeria or South Africa where individuals have a wider scope.

The CMA, in the year 2017, has cracked down on many illegitimate FX Kenyan companies which is definitely a positive indication. You are strongly suggested to make a trade with FX brokers who are regulated out there.

The most faithful regulatory agencies happen to be Cyprus CySEC, British FCA, plus Australian ASIC. FX companies are compelled by these government authorities to enforce stringent security standards like isolated accounts, and several of them are even compelled to provide Negative Balance Protection for safeguarding even those customers that reside outside the E.U.! Having said that, there is a greater chance for your cash to be secured in case an FX trading account is opened by you with FX brokerage controlled by one of these agencies.

Stock Market In Kenya

The stock market in Kenya is also quite old and it was found in 1954. It is known as Nairobi Securities Exchange or NSE. The stock market grew in bits and starts and it was not until 2014 that the NSE was demutualized and it became a self-listed entity. The NSE offers almost everything that is expected of any good stock exchange around the world. You can enjoy basic listing services both in stocks and also derivatives of stocks. It also is the place where you can find listing of ETFs (Exchanged Traded Funds) or REITs, which is the expansion of Real Estate Investment Trusts. It also is the platform where marketing of corporate debt securities of both government and corporate entities are permitted.

How To Trade Forex In Kenya

Identifying the best brokers in Kenya is not an easy job. This is because the forex broking market is still in its primary stages. There are only a few reputed online brokers who deal in forex buying and selling. Only a handful of them have offices in Kenya. However, those who live in Kenya are allowed to deposit money for the purpose of online trading. They have to use account of foreign brokers who are ready to accept customers as their clients. Almost all brokers have a website of their own. The customer servicing is done in English. Not many foreign brokers offer their services in the local languages such as Bantu Swahili.

Monitoring & Regulation of Foreign Brokers

We also need to bear in mind that brokers who are situated outside Kenya have to go through strict monitoring and regulation as per the local law of the land. The client funds have to be kept separately from the accounts of the trading brokers. Brokers are also supposed to enjoy very good reputation as far as their clients are concerned. Further, they also should be equipped and ready with a bouquet of products and services to cater to the specific needs and requirements of the clients.

Demo Accounts

Most of the reputed forex brokers offer high quality services and they allow their clients to develop strategies and also get into some practice. They offer demo account and the accounts are also funded with virtual money. In addition to it, al brokers also offer accounts that are funded. There is a minimum deposit stipulation which should be funded into the account before live trading begins.

How to select an FX Brokerage being a trader from Kenya

Firstly, it is imperative for you to evaluate your present trading style and knowledge. If you happen to be a novice and don’t have any idea regarding currency trading, you are suggested to avoid Metatrader4 and simply start afresh with some trader on the web which you need not download.

It is imperative for the best Forex brokers in Kenya 2019 to make a decision whether they select a Forex Company controlled by the CMA or opt for several of the most faithful currency brokerage on the planet. If you opt for CMA certified, it will be essential for you to make deposits via the ledger of the broker only which will enable the government in Kenya to monitor the flow of the capital to and fro from the nation, and the KRA would be capable of taxing the trader as per their income generated from the currency trading.

Trading Commissions and Fees

It does not matter whether you happen to be only a beginner or an intermediate merchant it is vital for you to inspect the structure of the fees carefully since that is going to either break you or make you. It will be better if the fees happen to be lower.

Fees related to Trading:

Spreads – The discrimination between BUY and SELL cost in pips anything in excess of three Pips for the most fluid USD/EUR is typically too much and you ought to avoid whatsoever. It is feasible for the spreads to be fixed or variable, and it typically depends on the type of account.

Swaps – the charge paid by you so as to keep the agreement open overnight.

Commissions every LOT – this won’t be visible to you much, typically only with the upper class.

Additional fees:

Withdrawal Fees, Deposit fees, and fees for Inactivity.

Types of Account

You have the option of selecting between Mini, Micro, and Standard accounts which will, of course, depend on your personal trading style and budget. You are encouraged to commence small with either Mini or Micro.

Online forex brokers in Kenya list :

Forex broker Review	Visit	Min. trading lot size	Max. leverage	Min. deposit	Pip rebate	Rating	Promotions
Hotforex	Hotforex	0.01	1:1000	$1	0.4	98
Instaforex	Instaforex	0.0001	1:1000	$10	1.6	90
FxPro	FxPro	0.01	1:500	$100	0.3	88
Avatrade	Avatrade	0.01	1:400	$1	0.9	85
Dukascopy	Dukascopy	0.01	1:100	$500	0.55	83
Exness Reivew	Exness	0.01	1:2000	$10	0.1-2	80	Exness
XM.com	XM.com	0.01	1:888	$5	1	78
Octafx review	Octafx register	0.01	1:400	$50	1	70

The Final Word

Many online brokers are not the same and the offer different classes of assets. However, most of them offer major currencies that are traded extensively across the world. Hence, there is no doubt that you can expect to get benefits trading in forex in Kenya. However, there are some challenges that need to be overcome and the authorities are aware of it and are taking steps.

Reveal six best forex brokers in Nigeria for 2020

How to find the best forex brokers in Nigeria?

Introduction:
This analysis and list of forex trading companies in Nigeria was made using Google Trends and brokers annual reports.

The forex currency trading boom started in 2000s. Today, there are as many 300,000 individual forex traders in the country according to estimates from FinanceMagnates.com. Such high popularity is attributed to the low entry norms such low minimum deposit, free trading platform to mention a few.
Forex trading has been accepted as a financial instrument but only a handful of broker operates in Nigeria. The Central Bank of Nigeria nor any other government agencies have little or no access to the very few brokers in Nigeria and that makes it vulnerable to trade with them. You should consider a foreign exchange broker that will accept Nigerian clients and authorized by a few regulatory boards. If you are a Nigerian and willing to invest in stock markets be sure that the forex brokerages are not the same everywhere.

Forex Trading In Nigeria:

The national currency of the country, Nigerian Naira, is further split into mini denominations called kobo. As per BIS, this currency is not on the top trading currencies.

Keeping in view of the financial sector regulatory, the CBN (Central Bank of Nigeria) has set strict directives for the stock market and brokers dealing in forex trade.

This new law ensures that brokers doing business in Nigeria have to manage public money in separate accounts. Therefore when there is a bankruptcy or other absurd situation, the fund will not be hampered.

Things to Watch for In a Forex Broker in Nigeria:

The below-mentioned things must be covered:

A reputed forex trader. Has to be oversight by a regulatory authority. Flexibility to open and start trading in any type of account of your choice. An affordable lowest deposit. Gives the freedom to invest in any forex pairs and other assets. Providing the highest leverage ratio, big enough for a trading. Aggressive dealing spreads. Providing safety in opposition to a negative balance. Keeping the slippage and lowering the re-quotes. Manage client fund in segregated accounts. Deposit and withdrawals that suits your need.

Below Is The Best Forex Brokers Found In Nigeria:
Forex Trading has already gained quite a popularity among many. When done correctly, it can really yield good profits in no time. Nevertheless, it’s important to find out a right forex broker so that you can generate lucrative profits. Needless to mention, finding an ideal forex broker isn’t an easy task. Especially, in Nigeria, there are plenty of brokers operating every day. Some of them are reliable and trustworthy. Whereas, a good number of these brokers are running a scam business. Hence, you need to carefully pick a trusted and regulated Nigerian forex broker before investing and avoid the scam ones.

Forex trade plays a significant role in a country’s economy. How effective it is depends on the institutional set-up and the diverse policies put into force. In Nigeria similar trends have been witnessed over the years. A growing number of middle income group people are getting interested in foreign trade and are looking only for the best forex broker in Nigeria.
With the local currency trading getting deeper and mature, several renowned forex trading brokers have come to set up their local office in the capital of Nigeria (Abuja). The best forex brokers in Nigeria include XM.COM, HotForex, IQ OPTION, We’ll discuss each briefly.

For your reference, this article will now help you reveal six best forex brokers in Nigeria for 2020. So, please keep reading the following sections and know more about them before you start investing.

Reveal six best forex brokers in Nigeria for 2020:

# 1 — Hotforex

Hotforex has the best forex trading platform in Nigeria based on latest research.
This is another low-cost forex broker for Nigeria. The platform is 100% safe and reliable. Kindly note that Hotforex is associated with various regulatory authorities like FSCA, FCA, and CySec. That’s why the platform is considered to be a trusted and recommended option for forex brokers in Nigeria. Another great facility of this platform is that they have an extremely low minimum deposit requirement which is $5. Additionally, it’s worth to mention that the fees of Hotforex are even lower compared to FXTM. It’s around 0.3 pips for EUR/USD with Zero Account, 0.6 pips for GBP/USD, and 0.8 pips for USD/JPY.

Hotforex supports local bank deposit and withdrawal methods for all Nigerian traders. Additionally, there are several wallet options too. Hotforex trading platform can be accessed via your smartphone. Whether you own an Android smartphone or iOS device, Hotforex can be easily accessed via it. Plus, the site can also be accessed via desktop too. Hotforex is offering a 100% sign up bonus to the new customers. To avail this 100% sign up bonus offer, the minimum deposit requirement is ?30,000. For the existing customers, the platform offers a good loyalty program.

# 2 — Forextime

When it comes to finding a good forex broker, there are multiple factors that need to be considered, such as promptness in deposits & withdrawals, spreads and fees, deposit bonus options, customer support, and trade execution. In terms of all of these aforementioned factors and parameters, Forextime features to be one of the best forex broker platforms in the market. The best part of this platform is that Forextime is absolutely safe and reliable. It’s a trusted and reputed platform that’s ideal for all Nigerian traders. The platform is associated with various trusted authorities of the UK, Belize, and Cyprus. Other key features of this platform are easy withdrawal facility, low deposit option, and instant order execution.

It is one of the best forex brokers in the country with oversights from many regulations from different countries. With an amount of 5 US Dollars, you can open a micro trading account that has high leverage. It pays attention to customer needs.

The minimum deposit requirement for FXTM or Forextime is ?2000. What’s more, FXTM has a live chat support option where you can directly contact the customer care executives at any time for 24*5. Coming to the fees, it’s 2.0 pips for EUR/USD with Standard account and it’s 0.4 pips for ECN MT5 account. The platform is not currently offering any deposit bonus to the new customers.

# 3 — Exness

This forex trading platform is also quite popular among Nigerian traders. It was founded in the year of 2008 and since its inception, the platform has rapidly gained a good number of active forex brokers. Also note, this is a trusted and regulated platform that has approvals from two well-known regulatory authorities including CySEC and FCA. Exness gives you the option to choose from more than 120 major and minor currency pairs. Their deposit requirement is also quite low. For example, their deposit requirement is only $1 for Mini and Cent accounts.

Coming to the deposit options, the platform allows you to place a deposit via local banks (applicable only for Nigerian traders). Other deposit options include e-wallets and credit/debit cards. The customer support option for Exness is very prompt, helpful, and well-responsive. For example, customer support is available for 24*5 for a total of eight languages. There is additional customer support which is available for 24*7 for three languages. Instant withdrawal options are too available which are applicable for e-wallets.

# 4 — XM Forex

This forex broker platform is definitely recommended to the Nigerian traders. The platform has started operating since the year of 2009. Rest assured that it’s a trusted and regulated platform that’s certified by ASIC 443670 and CySEC. As of today, XM forex supports around fifty-five different currencies. Another unique part of this website is that it arranges and organizes free training, live web seminars, and educational videos on a frequent basis so that you can learn the art of successful forex trading.
XM.COM is popular among starter and intermediate segments in traders. Founded in 2009, it’s been considered the top forex trading company based on all criteria. The broker is regulated by ASIC of Australia. If you’re looking for profits to earn from forex trade, xm.com is the best option.

You can earn up bonuses $4500. The transparent policy coupled with low spreads (0.1 pip). There are no requotes; it also does not have a slippage policy.. Compatible with MT4Your minimum first deposit must be $5. The maximum permission leverage is 1:88

XM Forex has three different types of account and all of them have a very deposit requirement. The fees associated with this platform are also quite low. For example, for Ultra Low accounts, their fee is around 0.8 pips for EUR/USD. Whereas, for Standard and Micro accounts, their fee is around 1.7 pips. Another unique and interesting feature of this platform is that it supports instant order execution guarantee. 99.35% of XM Forex orders are executed within a second. Other features of this platform include negative balance protection, fast withdrawals, and quick execution of orders. On top of that, this platform ensures to offer a prompt, responsive, and knowledgeable chat support that’s available for 24/7.

The only negatives of this platform are that XM Forex doesn’t have a local office in Nigeria and they don’t accept local bank deposit options.

# 5 — Avatrade

If you are looking for one of the best forex brokers in Nigeria for 2019, then Avatrade can also be one of the good recommendations for you. The platform is well-known to be a trusted and reliable forex broker site. It’s regulated by two renowned authorities like ASIC and FSCA. The greatest advantage of this platform is that Avatrade is a fixed spread broker platform i.e. their spread is consistently the same irrespective of any market time and market conditions. This platform charges an absolutely zero processing fee on all deposits and withdrawals. Also, the platform has a local support number which can be used to reach out to the customer support executives of Avatrade (for any immediate help and assistance).

The live chat support option for Avatrade is available only during their company business hours. Although the platform features to be a fixed spread broker, their spread can be a bit higher for some minor and exotic currency pairs.

# 6 — Alpari

This forex broker platform was founded and established in the year of 1998. Needless to mention, it’s one of the oldest forex brokers that has more than two million active customers. The platform supports many different account types. Their minimum deposit value can be as low as zero for the Nano Account. On top of that, the platform also supports trade in cryptocurrencies. For example, you can trade with this platform with cryptocurrencies like Bitcoin and Ethereum. Alpari’s spread is also quite low i.e. it’s as low as 0.6 pips for EUR/USD.

Additionally note, this platform accepts a wide variety of deposit and withdrawal options. Being a trusted and regulated platform, Alpari is certified by CySEC or Cyprus Securities and Exchange Commission. However, the platform is no longer approved by FCA or NFA. The platform has a very good technical support team that is available for 24*7. You can easily and conveniently reach out to this team at any time whenever you need help.

7. FXCM:

With an amount of 50 US Dollars, you can open a trading account with FXCM. Micro lot trading facilities along with other trading options are available.

8. Easymarkets:

It is the most popular forex broker in the country and started trading since 2003. It has served above 160 countries and gives 175 different trading options on commodities including Bitcoin. You can open a trading account with a deposit of 100 US Dollars.

9. IQ Option

IQ Option is the best for beginners thanks to its simple and easy to understand interface. It is formally regulated by CySEC (Cyprus). The broker offers protection against negative balance and has safe bank accounts. Along with this all, a range of assets makes it a great choice for beginners in forex trade.

The final verdict:

With this, you have revealed six best forex brokers in Nigeria for 2019, such as Forextime or FXTM, Hotforex, Exness, XM Forex, Avatrade, and Alpari. Each of these platforms has its own sets of benefits and advantages. Based on your preference and requirement, you can pick any of them and start trading right away!

These platforms have one particular thing in common i.e. regulation. To be a trusted forex broker platform, it has to be regulated by authoritative agencies i.e. FCA and CySEC. This ensures that the platform is safe and it’s not engaged in the scam and illicit activities. These regulations also ensure that your invested money is safeguarded in their trading accounts.

Never attempt to deposit in such a forex broker platform that is not licensed or certified. Also, before you start trading, please make sure to check and validate if there are any associated trading fees. All safe, legal, and licensed forex broker platform will upfront declare their trading fees and there won’t be any hidden charge at all. Please make sure to choose such a platform that offers lower spread and funding fees. If the spread is lower, then it will be better as you will have to pay lesser for broking. The final metric of a good and reputed forex broker platform is the customer support availability. In case if you face any struggle and difficulty, the platform should give you an option to contact their customer support for a prompt resolution.

As a Nigerian, your attention will be related to the security of your funds while choosing a broker. Make sure you have the flexibility to withdraw your profits.

So, what are you waiting for? Pick your ideal forex broker platform in Nigeria and start trading today!

Forex Trading in Oman
Oman is one of the fast-growing economies in the middle-income group of countries. A rising number of citizens of Oman are showing interest to join as forex traders over the past few years. The liberalization of rules on access to the Internet has made it easier to access forex trading brokers. We’ll discuss here forex trading in Oman.

Easy access to fast Internet

Today, the forex market is available to anyone with a stable Internet connection. To get an account for forex trading is pretty easy. Once you register and fund the account, you can start forex trading in Oman on your computer, smartphone or tablet.

More opportunities

Today, Omanis find it beneficial to start trade in forex thanks to the large number pairs of currency along with oil and gold. The trading tools are of high quality. This helps anyone trade with large amounts at low spreads to realize great amounts of profits.

Are there any forex brokers in Oman?

There is no forex broker with an office located in Oman. Yet, many top forex brokers accept application for forex trading from the citizens of Oman with no conditions. With this, traders in Oman can leverage the best quality trading platforms and accrue best results from top rated brokers. To experience the best forex trading in Oman, consider joining with the forex brokers discussed here:

XM.COM Forex Trading Broker in Oman

If you’re planning to start in forex trade as a beginner, xm.com is the best option. It works as per the regulations of ASIC (Australia) and CySEC (Cyprus). Thus, forex trading the XM is secure. The best thing is quality customer support.

XM offers trade in forex, commodity CFDs, Index CFDs, Metals CFDs. You can get ab Islamic account with the broker and get a bonus on deposit worth $5,000.

Features

Best for beginners with a low minimum deposit
Instant exposure to world markets
When there is a decline in prices, you can go for short selling
You can participate in future market speculation
Spreads – as low as 0.6
Leverage – 888:1
Compatible with MT4, MT5, WebTrader

ICMarkets Forex Trading Broker in Oman

ICMarkets offers the best forex trade conditions beginning at 0.0 pips, best prices without any restriction. There are no requotes. The trading platform engine is situated in New York. There is a range of proprietary and diverse mix of liquidly makes with spread low 24/5. It’s regulated by ASIC (Australia). You can get leverage up to 1:500.

Features

Low spread 0.1 pip
Round the clock customer support
Execution of order fast (below 40 milliseconds)
You can trade in deep real and diverse forex currencies
You get 60 products in forex trade
Compatible with Mt4, MT5, Window, MAC, Android, iOS, Web Browser

HotForex

HotForex is among the best forex trade brokers. It’s regulated by CySec (Cyprus), DFSA (Dubai), FCA (U.K.) and FSCA (South Africa). You’re completely secure and will do trade on a firm platform MT4 and execution is super fast. You get protection against a negative balance.

Features

Starting spreads at 0 pips
You’re protected against negative balance
Maximum leverage 1:1000
You’re entitled to a 100% bonus
Hedging and scalping are permissible
Compatible with MT4

IFC Markets Forex Trading Broker in Oman

IFC is a professional advanced trading platform and has been in forex business for the last 13 years. It offers customer support services in 18 languages of the world. Besides forex, IFCMarkets deals in bitcoins, futures, CFDs on stocks, CFD on indicators, commodity futures, and precious metals. You can work on MT5, MT4, and NetTradeX platforms.

Features

Low spread (below 0.4)
Immediate execution
Compatible with MT4, MT5 across devices
Regulated by CySEC (Cyprus)

AVATrade Forex Trading Broker in Oman

AVATrade is an advanced forex trade platform. It operates under regulations of entities such as FSA – (Japan), ASIC (Australia), Central Bank of Ireland and FSCA (South Africa). You will be entrained for leverage up to 400:1. You’ll get training in trade individually. You can quickly withdraw profits when earned. You can trade with the AVATradeGo app at anyplace, anywhere in the world.

Features

Secure thanks to being regulated by multiple regulatory authorities
Low spreads 400:1
Compatible with MT4, Android and iOs (with the official app)

Join any of these forex brokers. It will help make forex trading in Oman a big deal.

Top Forex Brokers In UAE (Including Dubai)

Finding the most reputable broker in the United Arab Emirates is simple when you know exactly what to look for. Finding a reputable and high-quality broker makes all the difference when trading. Reputable brokers are important to ensure financial safety and proper investments. Whenever finances are involved, it is very important to do the proper research. XM is one of the most reputable brokers in the UAE. They have been listed amongst the top ten brokers as a result of their unique services for beginners and advanced traders. It is very important for trading platforms to support beginners as well as seasoned traders. This encourages growth and development. XM is a fully regulated platform. This ensures safety and security when trading. Finding the most reputable forex companies in UAE is critical for success.

Forex trading Brokers in Dubai:
HotForex is another safe and reputable broker in the UAE. They have been able to provide traders with fast trades. This ensure trades are completed quickly. They offer a total of 48 currency pairs. This is very important as it allows for versatile trading. They also offer online education regarding the forex market. It is very important for traders to understand the market before making any trades. IQ Option is another top broker in the UAE. IQ Option has been able to provide traders with a user-friendly platform. For example, IQ Option has been a strong choice for beginners. Many traders enjoy this as they are learning the developing market. IQ Option also offers digital options for stocks as well as other trading services. IQ Option does not charge any fee for holding positions.

Pepperstone is another regulated and certified ECN broker. They offer a total of 70 currency pairs. Pepperstone offers a “no freezing” service. This helps traders to complete their transactions for efficiently and therefore avoid complications or issues during the process. Pepperstone also offers fast trades. All of the brokers listed are ensured for reputability. This confirms that traders are protected in order to avoid financial loss. When trading with online platforms and brokers, it is very important to use caution and do thorough research. As a result of the large volume of trades made on the market, it is important to confirm the details of each trade. National regulations encourage traders to only complete transactions with reputable sources. The UAE also offers language services to accommodate both locals and foreigners. Therefore it is simple and convenient to trade. All UAE residents have access to the most reputable brokers on the forex market.

HYCM is another popular and reputable broker in the UAE. They have been DFSA regulated in Dubai. This has helped traders to confirm the reputability of the platform. They offer Arabic and English support. This is very important as the United Arab Emirates is a very diverse country. Therefore offering support in both languages allows traders to interact in the language they prefer.