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5 Best Bitcoin Brokers in Kenya

The 5 Best Bitcoin Brokers in Kenya for Kenyan traders revealed. We tested the best Best Bitcoin Brokers for Kenyan Traders.

This is a complete guide to the best bitcoin brokers in Kenya.

In this in-depth guide you’ll learn:

  • What is a Bitcoin Broker?
  • Which forex brokers offer the best bitcoin trading platforms for Kenyan traders?
  • Which bitcoin broker can you use with M-PESA?
  • How to compare the best bitcoin brokers against each other. 
  • Which Bitcoin Broker are best for beginner Kenayn Traders? 
  • Which brokers offer a sign-up bonus for first-time traders in Kenya? 
  • Which brokers offer a low minimum deposit of $5 (583 KES) to start trading? 
  • Which Bitcoin Brokers offer a mobile app on IOS and Android for Kenyan Traders? 
  • What is the difference between Binance and Bitcoin?
  • Are there Crypto Friendly Banks in Kenya?
  • Which Bitcoin wallet is best in Kenya?


And lots more…

So if you’re ready to go “all in” with the best-tested Bitcoin Brokers in Kenya

Let’s dive right in…

Updated : August 31, 2022

5 Best Bitcoin Brokers in Kenya 

🥇 Broker✔️ Crypto Day Trading Platform?💻 Kenyan Shilling Account?👉 Open Account
1. CoinbaseYesYes👉 Open Account
2. Capital.comYesYes👉 Open Account
3. AvaTradeYesYes👉 Open Account
4. Crypto.comYesNo👉 Open Account
5. PionexYesNo👉 Open Account
6. eToroYesNo👉 Open Account
7. Forex.comYesYes👉 Open Account

5 Best Bitcoin Brokers in Kenya (Updated 2022)

 

  1. AvaTrade – Overall, Best Bitcoin Broker in Kenya
  2. FBS – Top Lowest Spread Broker
  3. HF Markets – Verified Low Minimum Deposit Broker
  4. Exness – Best Kenyan Shilling Account Bitcoin Broker in Kenya
  5. SuperForex – Top MetaTrader 4/ MT4 Broker

Why has crypto trading become so popular in Kenya?

👉 Much of the rise in popularity of cryptocurrencies in recent years may be ascribed to their ease of accessibility. While only a few online platforms, such as Robinhood, previously offered cryptocurrency trading, more brokers than ever currently do.

 

👉 Investing in cryptocurrency may seem like the business of the future to young professionals or investors. Active investors are committed to purchasing and selling cryptocurrency to maximize their profit and income.

 

👉 However, many others opt to acquire just a few units to hold in the hopes of an increase in the future.

1. AvaTrade

Overall Rating

Min Deposit

USD 100 / 11560 KES

Regulators

ASIC, FSA

Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 AvaTrade, a market maker with strong regulatory oversight, offers a dependable, user-friendly trading environment on a variety of platforms, including its innovative mobile app, AvaTradeGO. Trades can be seen quickly with AvaTradeGO, watchlists can be made, and live prices and charts can be viewed.

 

👉 Additionally, it offers more than 250 trading options, including 8 cryptocurrencies, via its mobile app. Because AvaTrade offers bitcoin trading around the clock, traders may do business on the weekend.

 

👉 Furthermore, AvaTrade customers may trade cryptocurrencies against Fiat currencies (USD, EUR, and JPY), in contrast to many other brokers that limit consumers by only allowing crypto-to-crypto trading.

 

👉 Finally, AvaTrade has some of the greatest Bitcoin trading conditions, but due to market volatility, leverage is just 20:1.

 

Features

FeatureInformation
⚖️ RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC
📱 Social Media Platforms• Twitter
• Instagram
• Facebook
• YouTube
💻 Trading AccountsStandard and Options accounts
📊 Trading Platform• AvaTradeGO
• AvaOptions
• AvaSocial
• MetaTrader 4
• MetaTrader 5
• DupliTrade
• ZuluTrade
💰 Minimum DepositEquivalent to $100 – 11635,00 KES
✅ Tradable Assets• Forex
• Metals
• Crypto
• Energies
• Indices
• Stocks
💵 Trading AssetsEquivalent to $100 – 11635,00 KES
📉 Minimum spreadFrom 0.9 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

Pros and Cons

✔️ Pros❌ Cons
AvaTrade is an internationally recognised and award-winning broker that is regulated in multiple jurisdictions.The demo account is only available for a period of thirty days.
The broker enables customers to choose from a variety of trading strategies, providing Kenyan investors with flexibility.The spreads are not at their most competitive levels.
A demo account is available for both inexperienced and seasoned traders to use.On inactive accounts, administrative fees come in the form of inactivity fees, which must be paid.
AvaTrade provides Muslim traders with trading circumstances based on Islamic law.Retail traders have access to a relatively low ratio of leverage.
Both social trading and trading in cryptocurrencies are supported.
The services provided by AvaTrade will meet the needs of Kenyan merchants of all experience levels, to their complete satisfaction.
Different trading platforms accessible, accessed from a variety of devices.
Traders just starting out have access to a variety of learning resources that can help them expand their expertise and knowledge.

2. FBS

Overall Rating

Min Deposit

USD 1 / 116 KES

Regulators

IFSC, FSCA (South africa), ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

$140 (16 373 KESFind out More)

Account Activation Time

24 Hours

Overview

👉 You might choose the FBS crypto account if you wish to try out Bitcoin trading. Due to the significant volatility of Bitcoin, Ethereum, and other digital currencies, traders could benefit from sudden price changes.

 

👉 Additionally, unlike conventional markets, Bitcoin trading is open around-the-clock. More than 100 instruments, including crypto coins, coin-coin crosses, coin-coin-fiat crosses, and coin-coin-metal crosses, are supported by the FBS crypto account.

 

👉 Low spreads, set leverage at 1:5, and simple deposits and withdrawals in both fiat and cryptocurrency are just a few of the great trading conditions offered by FBS. Starting with a Demo Crypto account will allow you to practice trading without taking any risks.

 

👉 The FBS Trader mobile app and MetaTrader 5 on a computer both provide access to the FBS Crypto account. Beginners interested in trading cryptocurrency would do better with the FBS Trader app since it is more user-friendly.

 

Features

FeatureInformation
⚖️ RegulationIFSC, CySEC
⚖️ CBN RegulationNo
✔️ Accepts Kenyan Traders?Yes
💳 Minimum deposit (NGN)400 Kenyan Shilling ($1)
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:3000
👥 Customer Support 24/7

 

Pros and Cons

✔️ Pros❌ Cons
FBS offers competitive trading conditions with some of the lowest spreadsThere are wide spreads charges on some accounts
There are several account types to choose fromThere is a limited number of tradable instruments
There are many social trading opportunitiesThere are several regional restrictions applied
There is an ultra-low minimum deposit requirement
The broker is well-regulated and trusted

3. HF Markets

Overall Rating

Min Deposit

USD 5 / 578 KES

Regulators

CySEC, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Three key benefits come with using HFM to trade Bitcoin: On the most popular pairings (such as BTC/USD and ETH/USD), leverage of up to 1:50 is available, and unlike Forex trading, cryptocurrency could be traded around the clock.

 

👉 In addition, HFM’s specialized copy trading account, HFCopy, offers both the BTC/USD and BTC/EUR. This is especially beneficial for traders who are new to the unpredictable cryptocurrency industry.

 

👉 By imitating more seasoned cryptocurrency traders, newcomers may learn about the dangers of trading these markets while still earning money.

 

Features

FeatureInformation
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
📱 Social Media Platforms• Facebook
• Twitter
• Telegram
• Instagram
• YouTube
• LinkedIn
💻 Trading AccountsMicro Account, Premium Account, HF copy Account, Zero Spread Account, Auto Account
📊 Trading PlatformMetaTrader 4 and MetaTrader 5
💰 Minimum Deposit5 USD or 580 KES
💵 Trading AssetsForex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs
✔️ Kenyan Shilling-based Account?No
💵 KES Deposits Allowed?Yes
💸 Bonuses for Kenyan traders?Yes
📉 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

Pros and Cons

✔️ Pros❌ Cons
Tight, competitive spreads from 0.0 pips on EUR/USD are offeredHF Markets only offers a few deposit and withdrawal methods to Kenyans
Kenyan traders have access to MetaTrader 4 and 5 across desktops, mobile apps, and web-based platforms
A demo account is available for beginners who are learning to trade and professional traders who are testing strategies
Kenyan traders can register a trading account in either USD, ZAR, or NGN
Several asset classes can be traded through HF Markets

4. Exness

Overall Rating

Min Deposit

USD 10 / 1156 KES

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Exness, which was founded in 2008, is a well-known forex and CFD broker globally. The Financial Conduct Authority in the United Kingdom is one of the seven organizations in charge of monitoring Exness.

 

👉 Exness differs from other brokers since it currently handles 27 more digital currencies in addition to Kenyan shilling trading. Exness is a dedicated MetaTrader broker that provides MetaTrader 4 and 5 for usage on smartphones, desktop computers, and a broad range of web browsers.

 

👉 Most of the cryptocurrency crosses offered by Exness are for Bitcoin, including BTC/ZAR and BTC/XAU. Ethereum, Litecoin, Ripple, and other specialized coins are also accessible.

 

👉 In comparison to other brokers, this one has greater maximum leverage of 1:400. Trading with this kind of leverage on such a volatile asset is quite dangerous, as investors should be aware. It might result in bigger losses as well as larger earnings.

 

Features

FeatureInformation
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
📱 Social Media Platforms• Facebook
• Twitter
• Instagram
• LinkedIn
• YouTube
💻 Trading AccountsStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app
💰 Minimum Deposit1 USD (116 KES)
✅ Tradable AssetsForex, Metals, Crypto, Energies, Indices, Stocks
📉 Minimum spreadFrom 0.0 pips EUR/USD
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

Pros and Cons

✔️ Pros❌ Cons
Exness is well-regulated and keeps all client funds in segregated accounts with top-tier institutionsExness offers a limited number of payment methods for deposits and withdrawals
Traders can choose between several retail investor accountsExness only offers a limited portfolio of financial instruments to traders
Exness offers an Islamic account conversion with no additional fees charged
Instant deposits and withdrawals are offered
Exness has customer support available 24 hours a day, 7 days a week

5. SuperForex

Overall Rating

Min Deposit

USD 1 / 116 KES

Regulators

IFSC

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

300

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 To make forex accessible and incorporated into daily living activities, SuperForex was established in 2013. From its base in Belize, the broker now does business in more than 150 nations worldwide.

 

👉 With account types for ECN and STP execution and 400+ instruments available on the MetaTrader 4 platform, SuperForex is a multi-asset online securities and derivatives broker.

 

👉 Customers of SuperForex have access to the MetaTrader 4 (MT4) trading platform, which they may use as an online trader via all popular browsers or download to desktop devices. Kenyans can easily trade 21 cryptocurrencies across accounts or use the designated Crypto Accounts.

 

👉 SuperForex offers Bitcoin trading with spreads starting from 190 pips on BTC/USD, and traders can expect margin requirements of 10%, with access to leverage of 1:10. Another benefit of trading crypto with SuperForex is that Kenyans can register a KES-denominated account.

 

Features

FeatureInformation
⚖️ RegulationNone that could be verified
📱 Social Media Platforms• Instagram
• Facebook
• Twitter
• YouTube
• LinkedIn
• Pinterest
⚖️ CBN RegulationNo
💻 Trading Accounts• Standard Account
Swap-Free Account
• No Spread Account
• Micro Cent Account
• Prof STP Account
• Crypto Account
ECN Standard Account
• ECN Standard Mini Account
• ECN Swap-Free Account
• ECN Swap-Free Mini Account
• ECN Crypto Account
💰 Trading Platform• MetaTrader 4
• MetaTrader 5
✔️ Accepts Kenyan Traders?Yes
💳 Minimum deposit (NGN)110 KES or equivalent to $1
📊 Trading Assets• MetaTrader 4
• SuperForex App
✔️ Kenyan shilling Deposits Allowed?Yes
✅ KES Deposits Allowed?Yes
💸 Bonuses for Kenyan traders?Yes
📊 Minimum Spread0.0 pips EUR/USD
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

Pros and Cons

✔️ Pros❌ Cons
SuperForex offers eleven different retail accounts, each catering to the different needs and objectives of tradersUnregulated broker
There are tight spreads and reliable trade execution speedsMetaTrader 5 is not offered
There are several Islamic accounts offered to Muslim traders without admin fees charged
There are convenient deposit and withdrawal options for Kenyans
There is a dedicated KES-denominated account
There are managed accounts offered via the SuperForex Bank
There are social trading opportunities and support for Copytrading
There are educational materials and trading tools offered

How to choose the Right Bitcoin Broker in Kenya

How to choose the Right Bitcoin Broker in Kenya

👉 The need for Bitcoin brokers has grown because of the thousands of individuals interested in investing in cryptocurrencies globally.

 

👉 Numerous Bitcoin brokers will be offering their services on the market, but you will also run across reports of frauds involving Bitcoin brokers.

 

👉 Not all Bitcoin brokers can be trusted since many of them have turned into frauds. Even if they are, they lack adequate security measures or are deficient in certain key areas, which may cause a lot of issues for Bitcoin traders.

 

👉 You must thus carefully choose a crypto broker, and we have provided key features that you must verify before you deal with a crypto broker.

 

Background and Financial Backing

👉 A good Bitcoin broker has robust financial support, which necessitates a substantial capital basis. This ensures that your Bitcoin is secure and that the broker will not go bankrupt.

 

Experience and Credibility

👉 The crypto market is young compared to other markets. However, this does not imply that all brokers are unskilled. There are reputable and professional Bitcoin brokers available for usage.

 

👉 Bitcoin brokers must possess the necessary qualifications, such as licenses from famous and respectable regulatory authorities and specialists on their staff. You can read reviews of the broker and get insight into their services to assess whether they are a good match for you.

 

Responsive Customer Support

👉 Since Bitcoin trading is available 24 hours a day, seven days a week, you could have a problem or query at any moment.

 

👉 Therefore, it is important to seek a broker who is accessible 24/7. Regardless of your time zone, they should have a competent support crew that can respond to inquiries and concerns in a timely and professional way.

 

Crypto Trading Fees and Commissions

👉 You must investigate the commissions and other costs that Bitcoin brokers impose. Ensure the broker outlines the fees they charge, and any other dangers associated so that you may make an informed choice.

 

Trading Platform

👉 No Bitcoin broker is complete without a user-friendly web, desktop, or mobile platform, often all three. These platforms are required for an assortment of reasons.

 

👉 They give customers a great degree of simplicity in Bitcoin trading, and a well-designed platform provides them with a variety of possibilities.

 

👉 These choices make things easier and more comfortable for novice and seasoned Bitcoin traders alike. Ensure that your preferred dealer has a modern platform or a selection of platforms.

 

Longevity of brokerage

👉 There may be a small number of trustworthy Bitcoin brokers that have just started up, but they are quite rare. If a Bitcoin broker has been in existence for an extended length of time, it has been doing something right, as shown by the fact that customers continue to depend on it.

 

Account Registration Process

👉 Very few traders realize that the registration procedures of Bitcoin brokers reveal a great deal about their character. Veteran traders in this industry can rapidly determine if a broker is excellent or terrible based just on the sign-up procedure.

 

👉 You may initially have some problems with spotting the legit Bitcoin brokers. However, as time goes by, you will have a better time distinguishing between excellent and unfavourable brokers. A vast number of depositing fees is a frequent indicator of a fraudulent sign-up procedure.

 

👉 Most instances in which Bitcoin brokers urge their customers to deposit a big sum of money to join up are probable scams. This is made apparent by the fact that many reputable Bitcoin brokers now accept little or no deposits from prospective clients.

 

👉 You should opt for these Bitcoin brokers instead of those that want vast quantities of money for crypto transactions.

 

👉 Additionally, investigate the process’s security. You can do this by examining the search bar’s top-left corner for an SSL certificate. This certificate ensures that a website is secure and will not expose your data to hackers.

 

Technical Support for Cryptocurrencies

👉 The distinction between customer service and technical assistance cannot be overstated. Most firms have technical support teams to assist clients with issues that need assistance from experts in that field.

 

👉 A significant majority of Bitcoin brokers lack any form of technical support personnel. They believe that their customer service professionals are sufficient for the task and depend only on them.

 

👉 The team should comprise Bitcoin industry veterans with decades of expertise. They should have a thorough understanding of how things operate and be able to deliver rapid answers within minutes.

 

👉 Determining whether a Bitcoin broker has a competent technical support staff might consume considerable time. In most instances, a substantial bit of trial and error is required.

 

Overall Convenience

👉 If a Bitcoin broker does not provide any convenience, they are not worth your time. As the environment changes, this sector is undergoing tremendous change. To make the appropriate judgments at the right time, you must be current on many matters.

 

👉 This is only achievable if your broker provides you with features that enhance your entire experience. Your broker’s platform should be compatible with a range of devices.

 

👉 Using your smartphone or tablet, you should be able to access your account and see all your trades and other crypto-related actions.

 

👉 Easy accessibility enables you to trade on the move while guaranteeing that you do not miss anything crucial and aside from that, the broker should utilize straightforward language.

 

Demo Account

👉 Today, one just cannot do without a reliable demo trading solution. There are several complex circumstances involved in Bitcoin trading. If you are just beginning in this sector, you will not know how to make timely judgments.

 

👉 You will lose a substantial amount of money as a result, and Bitcoin demo trading might help you avoid these errors.

 

👉 It will instruct you on trading in the actual world while guaranteeing that your selections do not negatively affect your funds. With this option, you will neither gain nor lose money. Nonetheless, you will get knowledge about how cryptocurrency trading is conducted.

The Best Bitcoin Brokers in Kenya

👉 In this article, we have listed the best brokers which offer a wide range of Bitcoin trading opportunities to traders in Kenya. We have further identified the brokers that offer additional services and solutions to Kenyan traders.

 

Best MetaTrader 4 / MT4 Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 0 / 0 KES

Regulators

FSA, FCA, ASIC, DFSA

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

66

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, Axi is the best MT4 Bitcoin broker in Kenya. MetaTrader 4 is offered by Axi for a range of devices and operating systems.

 

👉 Axi provides foreign currency solutions that are oriented toward individual investors. Kenyans may anticipate competitive trading circumstances as well as dynamic elements to enhance their trading experience for every account.

 

Best MetaTrader 5 / MT5 Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 100 / 11560 KES

Regulators

ASIC, FSA

Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, AvaTrade is the best MetaTrader 5 Bitcoin broker in Kenya. With the MetaTrader 5 platform from AvaTrade, traders have access to over 1,260 financial products and more than 50 marketplaces.

 

👉 AvaTrade has been in business for 16 years, during which time it has created a remarkable reputation and received several honours in its sector.

 

Best Bitcoin Broker for beginners in Kenya

Overall Rating

Min Deposit

USD 0 / 0 KES

Regulators

IGRs

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

80

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on IG Group’s website

👉 Overall, IG is the best Bitcoin broker for beginners in Kenya. IG is a fully licensed stock brokerage firm with over 321,000 customers throughout the globe. For novice traders, IG offers an abundance of easily accessible and up-to-date teaching resources.

 

Best Low Minimum Deposit Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 5 / 578 KES

Regulators

CySEC, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, HF Markets is the best Low Minimum Deposit Bitcoin Broker in Kenya. While the minimum deposit for most brokers’ basic accounts is 1,100 KES, the HF Markets Micro Account just requires 590 KES and offers cheaper trading fees.

 

Best ECN Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 200 / 23120 KES

Regulators

ASIC 

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

65

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, IC Markets is the best ECN Bitcoin broker in Kenya. IC Markets is a supplier of Electronic Communication Network (ECN) trading environments, providing true spreads beginning at 0 pips across 60 currency pairs.

 

👉 The liquidity providers for IC Markets consist of over 50 institutions and dark pool liquidity sources.

 

Best Islamic / Swap-Free Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 1 / 116 KES

Regulators

IFSC

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

300

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, SuperForex is the best Islamic / Swap-Free Bitcoin broker in Kenya. Over 150 countries utilize SuperForex’s world-class trading and investing services.

 

👉 SuperForex’s Swap-Free Accounts are suitable for halal trading and may be opened with as little as 110 Kenyan Shillings (KES).

 

Best Bitcoin Trading App in Kenya

Overall Rating

Min Deposit

$0 / 0 KES

Regulators

SEC, FINRA

Trading Desk

TraderPro

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

on Fidelity’s website

👉 Overall, Fidelity Investments is the best Bitcoin trading app in Kenya. Active Trader Pro, a downloadable application from Fidelity, provides users with access to real-time data and a trading interface that can be tailored to their needs.

 

👉 Fidelity Investments is renowned for providing one of the largest collections of asset screeners and research tools, and the given library has several instructional materials.

 

Best Kenyan Shilling Trading Account Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 10 / 1156 KES

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, Exness is the best Kenyan Shilling trading account Bitcoin broker in Kenya. Exness allows Kenyans to create accounts in the native currency, the Kenyan Shilling (KES).

 

👉 Traders in Kenya may now make deposits and withdrawals in their local currency without incurring the fees associated with currency translation.

 

Best Lowest Spread Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 1 / 116 KES

Regulators

IFSC, FSCA (South africa), ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

$140 (16 373 KESFind out More)

Account Activation Time

24 Hours

👉 Overall, FBS is the best lowest spread Bitcoin broker in Kenya. FBS has been in business for many years and offers a reliable trading environment and favourable trading circumstances, such as copy trading on MetaTrader 4 and MetaTrader 5.

 

👉 In addition, FBS provides a variety of trading accounts with minimal minimum deposit requirements.

 

Best NDD Bitcoin Broker in Kenya

Overall Rating

Min Deposit

USD 20 / 2330 KES

Regulators

CYSEC, ASIC, FCA and NBRB licence Seychelles coming soon

Trading Desk

Market maker

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, Capital.com is the best NDD broker in Kenya. This fully licensed and regulated online broker offers a vast selection of trading tools and services.

 

👉 Capital.com provides Kenyans with access to powerful trading platforms with some of the quickest STP execution speeds.

 

Best STP Bitcoin Broker in Kenya

Overall Rating

Min Deposit

10 USD / 1156 KES

Regulators

IFSC, MFSC and FSC

Trading Desk

MetaTrader4, MetaTrader5, CopyTrade and cTrader

Crypto

No

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, Axiory is the best STP broker in Kenya. Because of its link to Equinix datacentres, Axiory’s order processing time is less than 200ms. The dynamic trading accounts offered by Axiory enable access to several trading venues.

 

Best Sign-up Bitcoin Bonus Broker in Kenya

Overall Rating

Min Deposit

USD 5 / 584 KES

Regulators

IFSC, CySec, ASIC

Trading Desk

Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform

Crypto

No

Total Pairs

57

Islamic Account

Yes

Trading Fees

No (Just spread) 

Account Activation Time

24 Hours

👉 Overall, XM is the best sign-up bonus broker in Kenya. Numerous Kenyan investors and traders use XM’s extensive array of trading goods and services as well as its creative trading solutions.

 

👉 XM gives a sign-up bonus to all Kenyans who create their first account. Before risking their own funds, Kenyans may get a $30 No-Deposit Bonus to use as trading credit.

Bitcoin CFDs Pros and Cons

Bitcoin CFDs Pros and Cons

👉 Bitcoin CFDs are not a novel concept, and anyone interested in financial trading should be familiar with this option.

 

👉 However, many are still new to the idea that Bitcoin could be traded using CFDs, and in modern times with advanced trading technology, now is the perfect time to consider this option.

 

👉 Regardless of its popularity, there are a few pros and downsides to trading Bitcoin CFDs as opposed to trading traditional Bitcoin where the underlying asset is bought, sold, and exchanged.

 

Pros

Margin Trading

👉 For Bitcoin CFD companies, margin trading is a unique feature. Although huge exchanges like OKX, Gate.io, Binance, and a few others have this functionality on their platforms, they are some of the only ones that can afford to do so.

 

👉 Bitcoin CFD brokers were the first to launch such a trading approach when cryptocurrencies became popular in 2017, and few people understood why some crypto traders shifted to the opposite side.

 

👉 The reason behind it was to increase the potential profit from each transaction you make, and this is achieved because margin trading platforms allow you to borrow money from the brokerage to use as leverage.

 

Liquidity

👉 Bitcoin CFDs provide superior liquidity than underlying crypto assets. For instance, to withdraw funds from an altcoin trading account, one must first convert their funds to Bitcoin (BTC), which can be done at an offline ATM or via an exchange but will cost a significant amount of money.

 

👉 Converting a Bitcoin CFD into US dollars or Euros is unnecessary since it is already a fiat currency. The withdrawal process consists just of submitting a request to your broker, who will then process it.

 

👉 With trading the underlying asset (the Bitcoin assets themselves), the process is more involved because of the inherent need for a wallet, transfer to the wallet, transfer to the exchange, and withdrawal. In addition, there will be several conversions to perform.

 

👉 Additionally, there are restrictions on the amount of Bitcoin that could be withdrawn at a certain time. Even though there are daily withdrawal limitations, the risk is mitigated on CFD brokerages since all you need to trade is the currency in your account.

 

Security and Licenses

👉 There have only been a few instances of hackers successfully stealing money from a Bitcoin CFD platform. However, because Bitcoin exchanges are targeted by several hacking attempts daily, storing your funds there is a riskier proposition.

 

👉 Therefore, Bitcoin holders keep their funds in cold wallets rather than on an exchange. When trading CFDs on Bitcoin, your trading account doubles as a wallet that is immune to the same type of theft that wallets are exposed to.

 

👉 Furthermore, local financial authorities always provide licenses to Bitcoin CFD brokerages. What this implies is that there are rules in place to safeguard the interests of consumers everywhere. If you suffer a monetary loss due to an incident on the platform, the broker must pay you by law.

 

Cons

Ownership

👉 The primary problem is inherent to Bitcoin CFDs themselves, attributable to the fact that no actual coins are used in CFD trading.

 

👉 Traders use a technology that offers financial incentives for the right price predictions. Therefore, they will lose all market influence if they ever decide to exchange a crypto CFD for a security token.

 

👉 In addition, there is no immediate possibility for diversification. If you decide the platform that you are using is no longer to your taste, you must withdraw your money before you can invest it elsewhere.

 

Limited Choices

👉 To maintain stability, brokers tend to only provide a limited number of crypto CFDs. Bitcoin, Ethereum, XRP, Bitcoin Cash, and maybe Litecoin CFDs are the most common.

 

👉 Once the top-performing currencies, they have been overtaken in recent months by cheaper, newer, and promising tokens, and for this reason, your profit margin would remain extremely low.

 

Competition

👉 Since the fundamental benefit of CFDs on Bitcoin brokers was the leverage they supplied, the possibility for traders to trade on regular Bitcoin exchanges with margin might spell the end of CFDs on crypto brokers.

 

👉 Once this capability is available on Bitcoin exchanges, few traders will contemplate moving their funds elsewhere. And because everyone wants to be a market maker, margin trading with actual Bitcoin has the potential to significantly boost the market.

 

Higher Chance of Monetary Loss

👉 Bitcoin CFDs come with inherent risks and more than 70% of traders lose their money trading these instruments. Using high leverage ratios trading Bitcoin CFDs could result in significant losses that some traders may never recover from.

Conclusion

👉 Selecting the appropriate broker for your unique requirements is crucial if you want to start trading or investing in Bitcoin.

 

👉 There is a suitable alternative for you whether you want to trade a wide variety of digital assets, pay the least amount of fees, or have the finest mobile trading experience.

FAQ

What are Bitcoin CFDs in Kenya?

Contracts for difference (CFDs) allow investors to make bets on the future value of an item without purchasing or managing the underlying asset themselves. Bitcoin Contracts for Difference allow investors to employ leverage and trade long or short on Bitcoin.

 

How can you trade CFDs on Bitcoin?

Bitcoin CFD trading is like buying and selling the fluctuations in the price of other financial instruments such as forex, commodities, share CFDs, and so on. Because of this, you could profit from the Cryptocurrency market’s inherent volatility.

 

Is crypto trading legal in Kenya?

Yes, it is legal to trade Bitcoin and Bitcoin CFDs in Kenya. However, the Central Bank does not consider Bitcoin a legal tender and this market is not regulated by the CMA.

Therefore, traders will not find any support or protection if they face monetary loss, unfair treatment, or fraudulent activity in the crypto market.

 

How can I trade Bitcoin in Kenya?

You can trade Bitcoin on exchanges, or you can trade Bitcoin CFDs with brokers who offer this instrument.

 

Is crypto taxed in Kenya?

Yes, capital gains tax applies to Bitcoin and other cryptocurrencies. In Kenya, residents must pay a fixed rate of 5% on any cryptocurrency earnings. Trading losses are permitted and could be carried over to offset subsequent gains.

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