Top 8 Locally Based Brokers
RoboForex Review
RoboForex can be summarised as a trustworthy broker that offers 0% deposit and withdrawal fees, low spreads, and a sign-up bonus of $30 / KES ( 3, 452) offered to first-time traders. RoboForex has an overall Trust Score of 9/10. RoboForex is currently not regulated by the CMA of Kenya
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.7/5
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
RoboForex Review – 16 key points quick overview:
- ✅ Regulation and Safety of Funds
- ✅ Account Types and Features
- ✅ Account Registration
- easyMarkets Vs SuperForex Vs XM – Broker Comparison
- Trading and Non-Trading Fees
- Range of Markets
- Broker Comparison for Range of Markets
- Trading and Non-Trading Fees
- Deposits and Withdrawals
- easyMarkets Education and Research
- Bonuses and Promotions
- easyMarkets Affiliate Program
- Verdict on easyMarkets
- easyMarkets Current Populary Trends
- easyMarkets Pros and Cons
- Frequently Asked Questions
RoboForex Overview
👉 RoboForex is one of the most versatile brokers with a wide range of technological solutions that offers a versatile trading environment to Kenyan traders. While RoboForex is not regulated by the Capital Markets Authority (CMA), the broker is overseen by the IFSC in Belize.
👉 There are more than 12,000 trading products available at RoboForex, which has won several awards throughout the years. Trading platforms and accounts are available, as well as trading tools and extensive market research.
👉 This RoboForex review will provide traders with the details that they need to consider whether the broker is suited to their unique trading objectives and needs.
Distribution of Traders
👉 The distribution of traders with RoboForex is as follows:
➡️️ Russian Federation – 20.6%
➡️️ Brazil – 4.8%
➡️️ The Islamic Republic of Iran – 4.7%
➡️️ Ukraine – 3.9%
➡️️ Malaysia – 3.8%
Popularity among traders who choose RoboForex
🥇 While RoboForex does not have a visibly large presence in Kenya, the broker is still one of the Top 50 forex and CFD brokers for Kenyan traders.
RoboForex At a Glance
| 🏛 Headquartered | Belize City |
| 🏙 Kenyan Based Office | No |
| ✅ Accepts Kenyan Traders? | Yes |
| 🗓 Year Founded | 2009 |
| 📞 Kenyan Office Contact Number | None |
| 🤳 Social Media Platforms | • Facebook • YouTube |
| ⚖️ Regulation | International Financial Services Commission (IFSC) |
| 🪪 License Number | 000138/210 and registration no. 128.571 |
| ⚖️ CMA Regulation | None |
| 🚫 Regional Restrictions | USA, Canada, Japan, Australia, Bonaire, Curaçao, the Democratic Republic of Timor-Leste, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, Micronesia, Northern Mariana Islands, Svalbard and Jan Mayen, South Sudan, and other regions |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 5 |
| 📊 PAMM Accounts | No |
| 🤝 Liquidity Providers | 8 Liquidity Providers |
| 💸 Affiliate Program | Yes |
| 📲 Order Execution | Market |
| 📊 Average spread | From 0.0 pips |
| 📞 Margin Call | 40% to 60% |
| 🛑 Stop-Out | 10% to 40% |
| ✅ Crypto trading offered? | Yes |
| 💰 Offers a Kenyan shilling Account? | No |
| 👨💻 Dedicated Kenyan Account Manager? | No |
| 📊 Maximum Leverage | 1:2000 |
| 🚫 Leverage Restrictions for Kenya? | None |
| 💰 Minimum Deposit (KES) | 1,100 KES or an equivalent to $10 |
| ✅ Kenyan shilling Deposits Allowed? | No |
| 📊 Active Kenyan Trader Stats | 70,000+ |
| 👥 Active Kenyan-based RoboForex customers | No |
| 💳 Kenya Daily Forex Turnover | $100 million+ |
| 💵 Deposit and Withdrawal Options | • Bank Payments (26) • Electronic Payments (6) • Bank Cards (2) • Cash and Vouchers (15) |
| ⏰ Minimum Withdrawal Time | No |
| 💵 Instant Deposits and Instant Withdrawals? | Yes |
| 🏦 Segregated Accounts with Kenyan Banks? | No |
| 🕐 Maximum Estimated Withdrawal Time | Up to 5 Working Days |
| 📊 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • cTrader • R StocksTrader • R MobileTrader |
| ✔️ Tradable Assets | • Forex • Stocks • Indices • ETFs • Commodities • Metals • Energy Commodities • Cryptocurrencies |
| 💸 Offers USD/KES currency pair? | No |
| 📈 USD/KES Average Spread | N/A |
| 📉 Offers Kenyan Stocks and CFDs | None |
| 🗣 Languages supported on Website | English, Polish, Indonesian, Malayan, Portuguese, Spanish, Italian, Czech, Simplified Chinese, Vietnamese, and more |
| 📞 Customer Support Languages | Multilingual |
| ⏰ Customer Service Hours | 24/7 |
| 👥 Customer Support Languages | No |
| ✅ Bonuses and Promotions for Kenyans | Yes |
| 📚 Education for Kenyan beginners | Yes |
| 📱 Proprietary trading software | Yes |
| 💰 Most Successful Kenyan Trader | Patrick Mahinge (Net Worth – Private) |
| ✅ Is RoboForex a safe broker for Kenyans? | Yes |
| 📊 Rating for RoboForex Kenya | 9/10 |
| 🤝 Trust score for RoboForex Kenya | 66% |
| 👉 Open an account | 👉 Open Account |
Regulation and Safety of Funds
The International Financial Services Commission (IFSC) in Belize has licensed RoboForex Ltd under license number 000138/210. Anti-Money Laundering (AML) regulations and Know Your Customer (KYC) standards require RoboForex to verify the identity of every customer and prohibit third-party payments or payments from unknown sources.
Customers of RoboForex Ltd might receive up to €20,000 in compensation from a Compensation Fund that is a member of the Compensation Fund. The Civil Liability Insurance policy of RoboForex additionally includes protection against fraud, mistakes, carelessness, and other risks of loss up to a maximum of 5 million EUR.
The execution quality certificate Verify My Trade (VMT) issued to RoboForex Limited shows that the broker meets all the Financial Commission’s standards. RoboForex also provides individual investors with negative balance protection on all retail accounts.
Account Types and Features
RoboForex gives Kenyan traders a choice of five retail investor accounts. Additionally, Muslim traders can open an Islamic Account, exempting them from overnight fees that may be deducted or credited to the trading account, which is prohibited by Sharia law.
It is also worth noting that RoboForex has a demo account that can be utilized for various reasons and is supported with virtual money. Kenyan traders can choose between these account types:
➡️ RoboForex Kenya Prime Account
➡️ RoboForex Kenya ECN Account
➡️ RoboForex Kenya R StocksTrader Account
➡️ RoboForex Kenya ProCent Account
➡️ RoboForex Kenya Pro Account
Live Trading Accounts
Prime Account
Forex and other types of traders can all benefit from the Prime Account, which provides the finest possible circumstances for trading. With the following distinctive characteristics, the Prime account differs from other ordinary trading accounts in that it is intended for new, intermediate, and expert traders alike.
| Account Feature | Value |
| 💻 Trading Platforms available | • MetaTrader 4 • MetaTrader 5 • R StocksTrader • R MobileTrader |
| 💵 Base Currency Options | USD, EUR, GOLD |
| 💸 Minimum Deposit Requirement (₦) | 1,100 KES or equivalent to either 10 USD, or EUR |
| 💰 Commission | Yes, $10 per million traded |
| 📊 Spreads | Floating from 0.0 pips EUR/USD |
| 📲 Trade Execution | Market |
| 🔧 Tradable Instruments | 28 Forex Pairs, Spot Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies |
| 📈 Maximum Leverage Ratio | 1:300 |
| 📉 Minimum Trade Volume | 0.01 lots |
| 📈 Maximum Trade Volume | 500 lots |
| 🛑 Stop-Out | 100% |
| 💵 Cashback (Rebates) offered | 5% of overall commission |
| 💸 Bonuses Offered | No profit share or classic deposit bonus |
| 🆓 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | No |
| ✔️ One-Click Trading Supported | Yes |
| 💳 Trading Account History Time Frame | 12 Months |
ECN Account
👉 Experienced traders looking for the fastest order execution and the finest trading circumstances may consider opening an Electronic Communications Network (ECN) account.
| Account Feature | Value |
| 💻 Trading Platforms available | • MetaTrader 4 • MetaTrader 5 • R StocksTrader • R MobileTrader |
| 💵 Base Currency Options | USD, EUR, CNY, GOLD |
| 💸 Minimum Deposit Requirement (₦) | 1,100 KES or equivalent to either 10 USD, or EUR |
| 💰 Commission | $20 per million traded |
| 📊 Spreads | Variable spread from 0.0 pips EUR/USD |
| 📲 Trade Execution | Market |
| 🔧 Tradable Instruments | 36 Forex Pairs, Precious Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies |
| 📈 Maximum Leverage Ratio | 1:500 |
| 📉 Minimum Trade Volume | 0.01 lots |
| 📈 Maximum Trade Volume | 500 lots |
| 🛑 Stop-Out | 40% |
| 💵 Cashback (Rebates) offered | Up to 15% of RoboForex’s revenue |
| 💸 Bonuses Offered | No profit share or classic deposit bonus |
| 🆓 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | No |
| ✔️ One-Click Trading Supported | Yes |
| 💳 Trading Account History Time Frame | 12 Months |
R StocksTrader Account
👉 Traders in Kenya now have unique access to the R StocksTrader proprietary trading platform via this specialized account, which is designed for stock trading and investing.
| Account Feature | Value |
| 💻 Trading Platforms available | R StocksTrader |
| 💵 Base Currency Options | USD, EUR |
| 💸 Minimum Deposit Requirement (KES) | 11,400 KES first deposit or an equivalent to $100 |
| 💰 Commission | • US Stocks ($10,000+ Deposit) – $0.009 p/share • US Stocks – $0.025 per share • US Stock CFDs – $0.02 per share • EU Stock CFDs – 0.07% • $15 per 1 million base currency on forex • Variable commission on Indices |
| 📊 Spreads | • US Stocks ($10,000+ Deposit) – from $0.01 • US Stocks – from $0.01 • US Stock CFDs – from $0.01 • EU Stock CFDs – from 0.0 Pips • Forex – from 0.0 pips • Indices – from 0.5 pips |
| 📲 Trade Execution | Market |
| 🔧 Tradable Instruments | Over 12,000 instruments across Indices, Individual Stocks, Stock CFDs, Forex, ETFs, Oil CFDs, Metal CFDs, Brazil Stock CFDs, Crypto |
| 📈 Maximum Leverage Ratio | • US Stocks ($10,000+ Deposit) – up to 1:20 • US Stocks – 1:2 • US Stock CFDs – up to 1:20 • EU Stock CFDs – up to 1:5 • Forex – up to 1:300 • Indices – 1:100 |
| 📉 Minimum Trade Volume | 0.01 |
| 📈 Maximum Trade Volume | None |
| 🛑 Stop-Out | 20% |
| 💵 Cashback (Rebates) offered | No |
| 💸 Bonuses Offered | No |
| 🆓 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | Yes |
| ✔️ One-Click Trading Supported | No |
| 💳 Trading Account History Time Frame | None |
ProCent Account
👉 Trading techniques or Expert Advisors can be tested on this sort of account, which is ideal for both new and experienced traders alike. Once a trader has completed the demo account and is ready to trade with real money, this is the first actual trading account they can utilize to ease them into live market conditions.
👉 When combined with RoboForex’s unique mobile trading applications, this account is widely recognized as one of the greatest automatic trading solutions available from RoboForex.
| Account Feature | Value |
| 💻 Trading Platforms available | • MetaTrader 4 • MetaTrader 5 • R StocksTrader |
| 💵 Base Currency Options | USD, EUR, CNY, GOLD |
| 💸 Minimum Deposit Requirement (KES) | 1,100 KES or equivalent to either 10 USD, or EUR |
| 💰 Commission | None |
| 📊 Spreads | Variable spread from 1.3 pips EUR/USD |
| 📲 Trade Execution | Market |
| 🔧 Tradable Instruments | 36 Forex Pairs, Precious Metals, Cryptocurrencies |
| 📈 Maximum Leverage Ratio | 1:2000 |
| 📉 Minimum Trade Volume | 0.01 |
| 📈 Maximum Trade Volume | 10,000 |
| 🛑 Stop-Out | 10% |
| 💵 Cashback (Rebates) offered | Up to 1.5% of RoboForex’s revenue |
| 💸 Bonuses Offered | Yes, Profit Share (60%), Classic Deposit (120%) |
| 🆓 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | Yes |
| ✔️ One-Click Trading Supported | Yes |
| 💳 Trading Account History Time Frame | 1 Year |
Pro Account
👉 Professional traders in Kenya who are looking for the tightest spreads, commission-free trading, access to a few trading platforms, and high leverage, need not look further than the RoboForex Pro Account.
| Account Feature | Value |
| 💻 Trading Platforms available | • MetaTrader 4 • MetaTrader 5 • R StocksTrader • R MobileTrader |
| 💵 Base Currency Options | USD, EUR, CNY, GOLD |
| 💸 Minimum Deposit Requirement (KES) | 1,100 KES or equivalent to either 10 USD, or EUR |
| 💰 Commission | None |
| 📊 Spreads | Variable spread from 1.3 pips EUR/USD |
| 📲 Trade Execution | Market |
| 🔧 Tradable Instruments | 36 Forex Pairs, Precious Metals, CFDs on US Stocks, Index CFDs, Oil CFDs, Cryptocurrencies |
| 📈 Maximum Leverage Ratio | 1:2000 |
| 📉 Minimum Trade Volume | 0.01 lots |
| 📈 Maximum Trade Volume | 500 |
| 🛑 Stop-Out | 20% |
| 💵 Cashback (Rebates) offered | Up to 15% of RoboForex’s revenue |
| 💸 Bonuses Offered | Yes, Profit Share (60%), Classic Deposit (120%) |
| 🆓 Free Fund Withdrawal | Yes |
| ☪️ Islamic Account Option | Yes |
| ✔️ One-Click Trading Supported | Yes |
| 💳 Trading Account History Time Frame | 1 Year |
Demo Account
👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
👉 There is a certain degree of risk involved when trading financial markets and RoboForex offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
Islamic Account
👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
👉 This account is exclusively available to Muslim traders who want to open and convert Cent, R StocksTrader, and Pro Accounts. Depending on the financial instrument they trade, Muslim traders can anticipate paying varying commissions according to the financial instrument that they are trading.
Overall Rating
- 4.7/5
Min Deposit
USD 10 / 1156
Regulators
IFSC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Account Registration
RoboForex’s account registration procedure is straightforward. RoboForex’s official website has a registration option for Kenyan traders who want to use the broker’s service.
Once Kenyans are registered on the RoboForex website, they can proceed with the account application by logging into their Members Area and providing personal, financial, and work information, as well as completing a questionnaire about their trading experience and uploading evidence of identity and residence.
To begin trading, the RoboForex staff must first evaluate the submitted papers and information before approving the account.
How to Register Your Account
👉 Step 1 – Go to the Official RoboForex Website
➡️ Go to the official RoboForex website (https://www.easymarkets.com/) and click on “Open An Account”.
👉 Step 2 – Fill Out Your Details
➡️ Fill out your email address, first and last name, and mobile phone number. Now click on “Register” to open your account.
RoboForex Vs OANDA Vs FXTM – Broker Comparison
| RoboForex | OANDA | FXTM | |
| ⚖️ Regulation | IFSC | IIROC, ASIC, CFTC, NFA, FCA, FFAJ, MAS, MFSA | CySEC, FSCA, FCA, FSC Mauritius |
| 📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 • cTrader • R StocksTrader • R MobileTrader | • MetaTrader 4 • OANDA Platform • TradingView | • MetaTrader 4 • MetaTrader 5 • FXTM Trader |
| 💰 Withdrawal Fee | Yes | None | Yes |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 1,100 KES | 0 KES | 1,100 KES |
| 📈 Leverage | 1:2000 | 1:200 | 1:2000 |
| 📊 Spread | 0.0 pips | Variable, from 0.1 pips | 0.0 pips |
| 💰 Commissions | $3 to $4 | $40 | From $0.4 |
| ✴️ Margin Call/Stop-Out | • Margin: 40% – 60% • Stop-out: 10% – 40% | 100%/ 50% | • 60%/40% • 80%/50% |
| ✴️ Order Execution | Market | Market | Market, Instant |
| 💳 No-Deposit Bonus | Yes | No | No |
| 📊 Cent Accounts | No | No | No |
| 📈 Account Types | • RoboForex Prime Account • RoboForex ECN Account • RoboForex R StocksTrader Account • RoboForex ProCent Account • RoboForex Pro Account | • Standard Account • Core Account • Swap-Free Account | • Micro Account • Advantage Account • Advantage Plus Account |
| ⚖️ CMA Regulation | No | No | No |
| 💳 KES Deposits | Yes | Yes | Yes |
| 📊 Kenyan shilling Account | No | No | No |
| 👥 Customer Service Hours | 24/7 | 24/5 | 24/5 |
| 📊 Retail Investor Accounts | 5 | 3 | 3 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 📊 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 💰 Maximum Trade Size | 500 lots | 1,000 lots | Unlimited |
Trading Platforms
👉 RoboForex offers Kenyan traders a choice between these trading platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ cTrader
➡️ R StocksTrader
➡️ R MobileTrader
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ cTrader
👉 The traditional MetaTrader 4 terminal is still the most popular choice for retail traders. Beginners and seasoned investors alike will find all they need on our platform. Furthermore, the MQL platform-specific features and possibilities are included in the terminal.
👉 Order execution and distributed computing are combined in the MetaTrader 5 (MT5) trading interface, allowing even the most ambitious trading strategies to be implemented with ease. Trading robots and strategies may be developed and tested using MetaTrader 5, one of the most powerful platforms available.
👉 The MetaTrader 5 platform is the ideal option if Kenyan traders value speed and dependability while using trading robots and want to leverage the most recent contemporary technology.
👉 STP access for professional traders is provided by RoboForex via the cTrader platform. Experiential traders who need unique order types, level II pricing, and lightning-fast execution turn to cTrader.
👉 Over 50+ indicators, 9 kinds of sophisticated interactive charts, 14-timeframes, alerts, and more are included in the cTrader platform. Using cTrader Automate, traders can create their own trading robots and indicators in C#.
WebTrader Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ cTrader
➡️ R StocksTrader
👉 The MetaTrader 4 platform is also available in a web-based version that is compatible with all modern browsers. As with RoboForex’s desktop version, the MT4 online terminal has all the functionality and performance of the desktop version.
👉 As with the mobile app, Kenyan traders can sue the WebTrader from any device if they have a stable Internet connection.
👉 Kenyans can trade on any device using MetaTrader 5 online terminal from MetaQuotes, which works on any browser. Using the online terminal, Kenyan traders can keep track of their positions and make rapid trading choices based on the current market conditions.
👉 All that Kenyan traders need, is an internet connection, a browser, and a verified and funded RoboForex trading account login to utilize the online version of the MetaTrader 5 interface.
👉 cTrader’s online terminal is a great option for traders who prefer web interfaces over “traditional” software in terms of freedom and independence. Here are some of the advantages of using cTrader on a web browser:
➡️ Access to the same comprehensive functionality as the desktop platform
➡️ Any web browser can access cTrader
➡️ The ideal option for Mac users
➡️ Setting up personal preferences with the help of a cTrader ID can be done effortlessly
👉 Lastly, traditional design and innovative technology are brought together in R StocksTrader, a multi-asset terminal that blends the best of both worlds. Using a web terminal, Kenyan traders can access any global financial markets using any device that is connected to the Internet.
Trading App
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ cTrader
➡️ R MobileTrader
👉 To trade on the go, the MetaTrader 4 portable application will be any trader’s best option. This mobile terminal gives traders a similar interface with modest tweaks and the same set of tools and capabilities as the desktop terminal, which is designed exclusively for iOS/Android-based smartphones and tablets.
👉 The MetaTrader 5 trading platform may be accessed from anywhere in the globe using iOS or Android mobile devices at any time. Everything that traders will need to get the job done, from Market Depth to 30 technical indicators to 24 analytical items is included in the program.
👉 The full functionality of the cTrader interface is now available on mobile devices running iOS or Android, including:
➡️ An interface between a mobile operating system and a mobile application.
➡️ Support in 22 languages
➡️ Effortless charting options
➡️ Application-based notifications
👉 Lastly, R MobileTrader is a comprehensive and compact “workstation,” allowing traders to execute trades under optimal circumstances, deposit cash to trading accounts with ease and speed, and do market analysis.
Range of Markets
👉 Kenyan traders can expect the following range of markets from RoboForex:
➡️ Forex
➡️ Stocks
➡️ Indices
➡️ ETFs
➡️ Commodities
➡️ Metals
➡️ Energy Commodities
➡️ Cryptocurrencies
Broker Comparison for Range of Markets
| RoboForex | OANDA | FXTM | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | Yes | Yes | No |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | No | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | No | No |
| ➡️️ Options | No | No | No |
| ➡️️ Energies | Yes | Yes | Yes |
| ➡️️ Bonds | No | Yes | No |
Trading and Non-Trading Fees
Spreads
👉 According to RoboForex’s trading expenses, Kenyan traders can anticipate various spreads depending on the account type they pick as well as their trading instrument of choice. The following are the typical EUR/USD spreads that traders might anticipate based on their account type:
➡️ Prime Account – from 0.0 pips
➡️ ECN Account – 0.0 pips
➡️ R StocksTrader Account – from $0.01
➡️ ProCent Account – from 1.3 pips
➡️ Pro Account – from 1.3 pips
Commissions
👉 Traders can expect commission charges according to the trading account that they use. Subsequently, Kenyans can expect these commission charges:
➡️ ECN Account – $20 per million traded
➡️ Prime Account – $10 per million traded
Overnight Fees, Rollovers, or Swaps
👉 A trader’s position size, the market circumstances, and whatever financial instrument is being traded all affect the overnight costs that RoboForex charges. Some typical overnight fees that Kenyan traders can expect are as follows:
➡️ EUR/USD – a short swap of -0.08 points and a long swap of -0.679 points
➡️ XAG/USD – a short swap of 0.028 points and a long swap of -0.179 points
➡️ XAU/USD – a short swap of -7.4466 and a long swap of -13.3 points
➡️ CFDs – short swaps of -3.0% and long swaps of -6.0%
➡️ Cryptocurrencies – short swaps of -20% and long swaps of -20%
➡️ US Stock CFDs – short swaps of -3% and long swaps of -6%
Deposit and Withdrawal Fees
👉 While RoboForex does not charge fees when Kenyan traders deposit funds, the following withdrawal fees apply:
➡️ ThunderX, Shop2Pay, Eximbank, TPBank, Maritime bank, Agribank, Asia Commercial Bank, BIDV, VIB, Techcombank, VietinBank, Vietcombank, Bank Transfer (SEPA) – 1.5%
➡️ Local Bank Transfer – up to 4%
➡️ AstroPay – 0.5%
➡️ Skrill – 1%
➡️ Neteller – 1.9%
➡️ Perfect Money – 0.5%
➡️ AdvCash – 1%
➡️ Debit and Credit Cards – 2.6% + 1.3 USD or 1 EUR
Other Fees
👉 Other trading fees that Kenyan traders must take note of include the commissions charged on Islamic Swap-Free accounts. Traders who use the Islamic account option are exempted from overnight fees and typical trading conditions remain the same when account conversions are made.
👉 However, instead of overnight fees, Islamic accounts attract fixed commissions for holding positions open.
| Financial Instrument | Commission in USD |
| USD/CAD, XAG/USD, XAU/USD | 2 USD |
| AUD/NZD, CAD/JPY, CHF/JPY, EUR/CHF, EUR/JPY, GBP/JPY, USD/CHF | 5 USD |
| CAD/CHF, EUR/GBP, GBP/CAD, GBP/CHF, GBP/USD | 4 USD |
| USD/JPY, AUD/CAD, AUD/USD, NZD/USD, EUR/USD | 8 USD |
| AUD/CHF, AUD/JPY, NZD/CAD, EUR/AUD, EUR/CAD, GBP/AUD, USD/RUB, EUR/PLN, NZD/CHF, NZD/JPY, USD/PLN | 12 USD |
| EUR/NZD, GBP/NZD, USD/ZAR, USD/MXN, USD/CNH | 20 USD |
| ETH/USD, ETH/EUR | 0.1 USD |
| USTECHCash | 1 USD |
| DE40Cash, US500Cash, BTC/USD, BTC/EUR | 2 USD |
| US30Cash | 4 USD |
| BRENT, WTI | 12 USD |
| AMZN | 30 USD |
| GOOGL | 20 USD |
| TSLA, NFLX, BA | 8 USD |
| NVDA, ADBE, GS, BRK.B, MMM | 4 USD |
| FB, MCD, AAPL, CAT | 5 USD |
| IBM, V | 2.5 USD |
| EA, DIS, UPS, CVX, JPM, PRU, PEP, JNJ | 2 USD |
| MSFT, ATVI, WMT, XOM, C, PYPL, PG, PM, NKE, LLY | 1.5 USD |
| VZ, INTC, ORCL, CSCO, FOXA, SBUX, EBAY, DAL, NEM, WFC, KO, GM, PFE | 1 USD |
| HPE, CMCSA, BAC, GE | 0.5 USD |
Deposits and Withdrawals
RoboForex offers the following deposit and withdrawal methods:
➡️ Bank Payments (USD, BRL)
➡️ Boleto (USD, BRL)
➡️ Santander Rio (USD)
➡️ Bancolombia (USD)
➡️ PSE (USD)
➡️ China UnionPay (CNY)
➡️ Banco Do Brazil (USD)
➡️ Bradesco (USD)
➡️ ITAU (USD)
➡️ Webpay (USD)
➡️ Spei (USD)
➡️ ThunderX (QR-Code) (THB, LAK, MMK, KHR)
➡️ Shop2Pay (QR-Code) (THB)
➡️ Eximbank (VND)
➡️ TPBank (VND)
➡️ Agribank (VND)
➡️ Maritime Bank (VND)
➡️ Asia Commercial Bank (VND)
➡️ BIDV (VND)
➡️ VIB (VND)
➡️ Techcombank (VND)
➡️ VietinBank (VND)
➡️ Vietcombank (VND)
➡️ TED/DOC (BRL)
➡️ Bank Transfer (SEPA) (EUR)
➡️ Local Bank Transfer (MYR)
➡️ AstroPay (AED, AUD, BRL, CLP, CNY, EUR, GBP, IDR, INR, JPY, MXN, MYR, NGN, THB, USD, VND)
➡️ Skrill (USD, EUR)
➡️ Neteller (USD, EUR, MYR, IDR, AED, PLN)
➡️ Perfect Money (USD, EUR)
➡️ AdvCash (USD, EUR, UAH, BRL, GBP, KZT)
➡️ Nganluong Wallet (VND)
➡️ China UnionPay Bank Card (CNY)
➡️ VISA, MasterCard, JCB (USD, EUR, CHF, GBP, PLN, CZK, UAH, CNY, MYR, KZT)
➡️ Cash and Vouchers (USD) including efecty, Davivienda, Almancense Éxito, Carulla, Edeq, Surtimax, Pago Facil, Rapi Pago, ServiPag, Red Pagos, Banorte, Bancomer, OXXO, Pago Efectivo
➡️ Western Union (USD)
How to Deposit Funds with RoboForex
To deposit funds to an account with RoboForex, Kenyan traders can follow these steps:
➡️ Navigate to the Members area and select the “Deposit Funds” option.
➡️ Choose the trading account that will be funded by using the dropdown list.
➡️ Select a preferred payment method.
➡️ Select whether to deposit funds, receive a bonus, and provide the percentage. Alternatively, continue without selecting this option.
➡️ Specify the deposit amount and the deposit currency.
➡️ Select “Deposit Funds.”
How to Withdraw Funds with RoboForex
To withdraw funds from an account with RoboForex, Kenyan traders can follow these steps:
➡️ RoboForex account holders must first verify and authorize their account before attempting to withdraw cash
➡️ RoboForex members may access the “Withdraw Funds” section by logging into their accounts
➡️ Traders must ensure that the account they want to withdraw money from is the one that is currently active in the Members Area
➡️ Traders can choose from a variety of payment options
➡️ Next, traders can click “Go To” once they have chosen their withdrawal method
➡️ Depending on the payment method used, traders could be required to provide extra information.
➡️ Creating a withdrawal request will redirect the trader to the next page, where can provide additional information. In addition, Kenyan traders must note that RoboForex processes all withdrawal requests in two working days, from 9 am to 6 pm (EET).
RoboForex Education and Research
RoboForex offers the following Educational Materials:
➡️ Guides on Account Opening and Trading
➡️ Educational Videos
➡️ FAQ Section
RoboForex offers Kenyan traders the following Research and Trading Tools:
➡️ Forex Analysis and Forecasts
➡️ RoboForex Analytics Centre
➡️ Economic Calendar
➡️ Blog
➡️ R StocksTrader Strategy Builder
➡️ Trading Calculators
➡️ Financial Charts
➡️ Trading Tips
➡️ Expert Advisors
➡️ Changes in Trading Schedule
➡️ CopyFX
Bonuses and Promotions
RoboForex offers Kenyan traders the following bonuses and promotions:
➡️ Promotion to the value of $1.1 million to celebrate 11 years of RoboForex
➡️ Welcome Bonus
➡️ Profit Share Bonus
➡️ Classic Bonus
➡️ Cashback (rebates)
➡️ Up to 10% back on trading accounts
Overall Rating
- 4.7/5
Min Deposit
USD 10 / 1156
Regulators
IFSC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
RoboForex Affiliate Program
RoboForex has a robust affiliate program that rewards partners with up to 84% earnings, quick partner commissions of up to 74%, and a loyalty program that rewards partners with up to 20% of total partner commissions.
RoboForex’s official website has a convenient real-time calculator that allows potential partners to determine their commission based on the number of customers they have. RoboForex reported a total commission of 4,724.2 USD for their VIP program.
All RoboForex professional accounts are eligible to earn up to 50% revenue share, while Affiliate accounts may earn up to 70% revenue share and R StocksTrader accounts can earn up to 50% revenue share.
The following are some of the advantages of joining the RoboForex affiliate program:
➡️ There are no pay-out limits
➡️ No restrictions on the maximum payments per month or client
➡️ RoboForex offers daily payments.
➡️ There are no deal restrictions
➡️ All trades are paid out without any limits.
➡️ Zero restrictions on bonuses in terms of trading volumes.
➡️ Partners have access to 24/7 customer support.
➡️ There are simple analytics offered regarding attracted clients in real-time.
Additionally, RoboForex’s reward program enables partners to improve their total profit by up to 20%. According to monthly performance, the program entitles all partners to an extra percentage of the total commission paid.
➡️ If the partner’s profit is between $100 to $500, they receive 10% or up to $50
➡️ If the partner’s profit is between $500 to $30,000, they receive 15% or up to $4,500
➡️ If the partner’s profit is over $30,000, they receive 20% starting from $6,000
In terms of client account markup, partners may increase their earnings by 2.5x on pro accounts and up to 70% on affiliate accounts. Additionally, when partners enroll in the VIP or Expert programs, they could earn multi-level commissions.
The VIP program consists of two levels, while the Expert program consists of up to five. Under the VIP program, partners may earn up to 70% of the commission earned by sub-partners on the first level and 10% of the commission earned by sub-partners on the second level.
The Expert program is governed by a multi-tiered commission, as follows:
➡️ 1st Level – 35% of RoboForex’s revenue
➡️ 2nd Level – 20% of the sub-partner commission
➡️ 3rd Level – 15% of the sub-partner commission
➡️ 4th Level – 12.5% of the sub-partner commission
➡️ 5th Level – 10% of the sub-partner commission
RoboForex Social Responsibility
👉 RoboMarkets Ltd considers it a matter of moral obligation to contribute to programs that make our planet a better place. This is the reason why the firm is committed to supporting a variety of charitable causes regularly.
Verdict on RoboForex
Multiple awards have been bestowed onto RoboForex, an online broker that offers a wide range of trading instruments across a wide range of assets. They include a wide range of trading platforms and account kinds, as well as several ways to finance the trading account.
To make trading easier, a variety of trading tools are available, as well as regular updates with in-depth market research. Negative balance protection and a secure network are two of RoboForex’s selling points.
RoboForex Current Popularity Trends
👉 According to Google Trends, RoboForex has seen an increase in Google Searches in the past month.
RoboForex Pros and Cons
| ✔️ Pros | ❌ Cons |
| There is a wide range of tradable instruments that Kenyan traders can use to diversify their trading profile | The broker has offshore regulation and no regulations with FCA, CySEC, or other prominent entities |
| There is an ultra-low minimum deposit required | Withdrawal fees are charged |
| There are several account types offered that are tailored to different types of traders | There is no KES-denominated trading account for Kenyan traders |
| RoboForex offers a choice between different research and trading tools | |
| RoboForex is an award-winning broker that has Verify My Trade | |
| There are social trading opportunities provided | |
| The trading platforms are powerful and offer versatility to Kenyan traders | |
| The trading conditions are competitive and suit different trading experience levels and styles |
Frequently Asked Questions
Is RoboForex regulated and by whom?
Yes, RoboForex is regulated by the International Financial Services Commission (IFSC) in Belize.
Which trading platforms are supported by RoboForex?
RoboForex supports the use of these trading platforms:
- MetaTrader 4
- MetaTrader 5
- cTrader
- R StocksTrader
- R MobileTrader
Does RoboForex offer leverage and what is the maximum ratio offered?
Yes, RoboForex offers maximum leverage up to 1:2000.
What is the minimum deposit required to register an account with RoboForex?
1,100 KES or an equivalent to $10.
What is the overall rating for RoboForex out of 10?
The overall rating for Roboforex is 9/10.
