BUSINESS

5 Best Stock Brokers in Kenya


Shares in Kenyan companies are traded daily in an effort to profit from the daily fluctuations in their prices. Short-term trading distinguishes traders from long-term investors in the stock market.

Trading stocks using a reputed Kenyan online stockbroker is simple and safe, regardless of your investment method. Here, we’ve identified the top five Kenyan stock brokers that offer competitive trading terms and sound regulation.

  1. Exness

Overview

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

Pros and Cons

PROS

CONS

Well-regulated

Tight spreads

Over 130 currency pairs

Features

Feature

Information

Regulation

CySEC, FCA

Minimum deposit from

$1

Average spread from

1.3 pips

Commissions from

3 USD and 10 USD per 1 lot for CFDs

Deposit/Withdrawal Fees

None

Maximum Leverage

1:2000

Bonuses

Standard +10% Bonus Programme

Customer Support

24/5 – multilingual

👉Open a Free Trading Account Now

2. Pepperstone

Overview

Pepperstone was created in Melbourne, Australia in 2010 and provides traders with a wide range of CFDs on currency pairs (for example, the AUD/USD pair), commodities, equities, and cryptocurrencies. 

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

Pros and Cons

Pros

No minimum deposit

Low trading fees for forex

No added costs for withdrawals or deposits

Cons

Limited number of instruments

No additional research tools

Features

Feature

Information

Regulation

FCA, ASIC

Minimum deposit from

AUD200

Average spread from

0.4 pips  

Commissions from

‎$3.76 commission per lot per trade

Deposit/Withdrawal Fees

None

Maximum Leverage

1:500

Bonuses

None

Customer Support

24/5

3. FXTM

Overview

In 2011, FXTM, commonly known as ForexTime, was established. It boasts one of the greatest education programs for all kinds of traders and offers both CFD products and Forex pairs. Kenyan traders can use the broker’s services, and there are six different account kinds to choose from.

Pros and Cons

PROS

CONS

Superb customer service

Inactivity and withdrawal fees

High maximum leverage

Limited product portfolio

Great educational tools

Features

Feature

Information

Regulation

CySEC, FCA, FSCA

Minimum deposit from

$100

Average spread from

0.9 pips

Commissions from

No commission

Deposit/Withdrawal Fees

$3

Maximum Leverage

1:500 on average

Bonuses

$300 Trading Bonus

Customer Support

24/5 

4. AvaTrade

Overview

In addition to a wide range of tradable instruments, AvaTrade provides a wide-selection of trading platforms for both manual and automated trading across several device types, with industry standard spreads.

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

Pros and Cons

PROS

CONS

Broad range of tradable instruments

High EURUSD and inactivity fees

MetaTrader 4 and 5 available

Excellent educational resources

Features

Feature

Information

Regulation

Central Bank of Ireland, MiFID, ASiC, BVI

Minimum deposit from

$100

Average spread from

0.9 pips

Commissions from

No commission on Forex

Deposit/Withdrawal Fees

None

Maximum Leverage

1:400

Bonuses

First Deposit Bonus

Customer Support

24/5 – multilingual

5. XTB

Overview

Clients of XTB Online Trading (XTB) 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 business from this company. Customers should expect to pay a lower spread and commissions for other product offers.

Pros and Cons

PROS

CONS

Award-winning trading platform

Negative Balance Protection 

Well regulated 

Limited product portfolio

Features

Feature

Information

Regulation

KNF, FCA, CySEC and IFSC

Minimum deposit from

$250

Average spread from

1.02 pips  

Commissions from

0.08% of trade value with $8 minimum

Deposit/Withdrawal Fees

$30 on withdrawals of less than $50

Maximum Leverage

1:500

Bonuses

$40 No Deposit Bonus

Customer Support

24/5

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