One of the best ways in which forex brokers attract new clients is by offering a variety of bonuses when traders register for a live trading account. One of these bonuses includes a “no-deposit” bonus.
This allows traders to register for a live trading account without being subjected to a minimum deposit requirement once their live trading account is approved.
These bonuses are very lucrative; however, Kenyan traders must ensure that they thoroughly read and clearly understand the terms and conditions that are associated with bonus. There may often be strict requirements which must be fulfilled before traders receive their bonus.
Pro Tip: View the best forex no deposit bonuses for traders
In addition, bonuses are often paid as trading credit, and not actual cash, which can be used towards trading activities. Demo accounts are also not considered eligible for bonuses, unless otherwise stated by the broker.
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RoboForex
As a multi-award-winning online broker who offers trader with more than 9,400 financial instruments to trade, Kenyan traders have endless opportunities. Traders are also provided with a variety of reliable and powerful trading platforms, flexible accounts, trading tools, and in-depth market analysis.
Pros and Cons
| PROS | CONS |
| Segregated client funds | US clients not accepted |
| Negative balance protection | Fixed spreads not offered |
| Multiple accounts and trading platforms | |
| Award-winning broker |
XM
XM is a multi-award-winning, well-regulated Market Maker broker which has more than 2.5 million clients from 196 countries who make use of its comprehensive trading solutions.
XM offers Kenyan traders with an array of bonuses, no-requotes, tight spreads, fast executions, negative balance protection, and competitive trading and non-trading fees.
Pros and Cons
| PROS | CONS |
| Strictly regulated | US Clients not accepted |
| Variety of bonuses offered | No fixed spreads |
| Multiple awards | |
| Hedging and scalping allowed |
OctaFX
OctaFX is a reputable and popular online trading broker that offers trading platforms in Kenya with various bonuses, flexible trading accounts, a wide range of tradable financial instruments, competitive fees and dedicated, prompt customer support.
Pros and Cons
| PROS | CONS |
| Commission-free accounts offered | US Clients not accepted |
| Fixed spreads offered | Limited trading instruments |
| Copy trading supported | |
| Hedging and scalping allowed |
Tickmill
Tickmill is a reputable, multi-regulated online trading broker which caters for both retail and institutional traders. Kenyan traders have access to more than 80 financial instruments which can be traded in global markets.
Tickmill offers bonuses, competitive spreads and conditions, flexible accounts, multiple trading platforms, and a vast selection of trading tools.
Pros and Cons
| PROS | CONS |
| Multiple regulation | US Clients not accepted |
| Commission-free trading accounts | No fixed spreads |
| VPS offered | Limited education |
| Negative balance protection | Cryptocurrencies not offered |
SuperForex
SuperForex offers Kenyan traders with more than 300 tradable financial instruments, bonuses, the use of MetaTrader 4, multiple account types, high leverage, and social trading opportunities.
Pros and Cons
| PROS | CONS |
| Managed accounts offered through SuperForex Bank | Offshore regulation with IFSC |
| Multiple trading tools and training resources | US Clients not accepted |
| MetaTrader 4 offered | No choice in trading platform other than MetaTrader 4 |
| Variety of account options | Spreads are not the tightest |
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