5 Best Stock Brokers in Kenya

Shares of Kenyan companies are traded daily with the aim of profiting from daily fluctuations in their prices. Short-term trading distinguishes traders from long-term investors in the stock market.

Trading stocks using a reputable Kenyan online broker is simple and safe, regardless of your method of investing. Here, we have identified the top five Kenyan stockbrokers that offer competitive trading conditions and strong regulation.

1. Exness

Insight

Exness, which was established in 2008, has grown rapidly in the business since then and now has around 60,000 active customer accounts from around the world.

For traders of all skill levels, Exness offers a wide variety of account types and financial instruments in addition to its FCA and CySEC licensed regulatory framework, according to this Exness Review.

Advantages and disadvantages

ADVANTAGES	THE INCONVENIENTS
Well regulated
Tight spreads
Over 130 currency pairs

Features

Characteristic	Information
Regulation	CySEC, FCA
Minimum deposit from	$1
Average spread of	1.3 dots
Commissions of	3 USD and 10 USD for 1 lot for CFDs
Deposit/withdrawal fees	None
Maximum leverage	1:2000
Bonuses	+10% Standard Bonus Program
Customer service	24/5 – multilingual

👉Open a free trading account now

2. Pepper

Insight

Pepperstone was established in Melbourne, Australia in 2010 and offers traders a wide range of CFDs on currency pairs (eg AUD/USD), commodities, stocks and cryptocurrencies.

However, compared to its competitors, the broker offers a wide selection of stock trading products. Kenyan traders can open accounts with the broker as it is regulated by the country’s CMA.

Advantages and disadvantages

Advantages No minimum deposit Low trading fees for forex No additional fees for withdrawals or deposits

The inconvenients Limited number of instruments No additional search tools

Features

Characteristic	Information
Regulation	CIF, ASIC
Minimum deposit from	$200
Average spread of	0.4 pips
Commissions of	‎$3.76 commission per lot per trade
Deposit/withdrawal fees	None
Maximum leverage	1:500
Bonuses	None
Customer service	24/5

3.FX™

Insight

In 2011, FXTM, commonly known as ForexTime, was created. It has one of the best training programs for all types of traders and offers both CFD products and Forex pairs. Kenyan traders can use the services of the broker and there are six different account types to choose from.

Advantages and disadvantages

ADVANTAGES	THE INCONVENIENTS
Superb customer service	Inactivity and withdrawal fees
High maximum leverage	Limited product portfolio
Good teaching tools

Features

Characteristic	Information
Regulation	CySEC, FCA, FSCA
Minimum deposit from	$100
Average spread of	0.9 pips
Commissions of	No commission
Deposit/withdrawal fees	$3
Maximum leverage	1:500 on average
Bonuses	$300 trading bonus
Customer service	24/5

4.AvaTrade

Insight

In addition to a wide range of tradable instruments, AvaTrade offers a wide selection of trading platforms for manual and automated trading on multiple device types, with industry standard spreads.

To start, traders only need 100 units of the base currency to open an account, and the broker provides a wealth of training and research material.

Advantages and disadvantages

ADVANTAGES	THE INCONVENIENTS
Wide range of negotiable instruments	High EURUSD and inactivity fees
MetaTrader 4 and 5 available
Excellent teaching resources

Features

Characteristic	Information
Regulation	Central Bank of Ireland, MiFID, ASiC, BVI
Minimum deposit from	$100
Average spread of	0.9 pips
Commissions of	No commission on Forex
Deposit/withdrawal fees	None
Maximum leverage	1:400
Bonuses	First deposit bonus
Customer service	24/5 – multilingual

5.XTB

Insight

XTB Online Trading (XTB) clients have access to a wide range of resources essential to their success in the online trading environment.

Clients can expect to pay the lowest forex spread costs in the industry with this company. Clients should expect to pay lower spread and commissions for other product offerings.

Advantages and disadvantages

ADVANTAGES	THE INCONVENIENTS
Award-winning trading platform Negative balance protection Well regulated	Limited product portfolio

Features

Characteristic	Information
Regulation	KNF, FCA, CySEC and IFSC
Minimum deposit from	$250
Average spread of	1.02 pips
Commissions of	0.08% of trade value with $8 minimum
Deposit/withdrawal fees	$30 on withdrawals under $50
Maximum leverage	1:500
Bonuses	$40 No deposit bonus
Customer service	24/5

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