Top 8 Locally Based Brokers
10 Best Cryptocurrency Brokers in Kenya
The 10 Best Cryptocurrency Brokers in Kenya revealed. We tested and verified the best cryptocurrency brokers for Kenyan Traders.
This is a complete list of cryptocurrency brokers in Kenya.
In this in-depth guide youâll learn:
- What is cryptocurrency?
- Which cryptocurrency brokers are best for beginner traders?
- Which broker can trade Bitcoin on?
- With which broker can you deposit money with a debit card?
- Which cryptocurrency broker offers an app that is IOS and Android compatible?
- How to compare forex trading brokers against each other?
- How and can I trade forex with $5 USD?
- Which brokers offer a signup bonus on a $5 deposit
And lots moreâŠ
So if youâre ready to go âall inâ with the best cryptocurrency brokers for KenyansâŠ
Letâs dive right inâŠ
- Louis Schoeman
10 Best Cryptocurrency Brokers in KenyaÂ
| đ„ Broker | âïž Cryptocurrency Broker? | đ° Minimum Deposit? | đž Kenyan Shilling (KES) Deposits Allowed? | đ Open Account |
| 1. Exness | Yes | $5 (583 KES) | Yes | đ Open Account |
| 2. IC Markets | Yes | $200 (23,000 KES) | No | đ Open Account |
| 3. AvaTrade | Yes | $100 (11 671 KES) | No | đ Open Account |
| 4. FP Markets | Yes | $80 (8700 KES) | Yes | đ Open Account |
| 5. easyMarkets | Yes | $25 (2,800 KES) | No | đ Open Account |
| 6. Capital.com | Yes | $20 (2,300 KES) | No | đ Open Account |
| 7. BD Swiss | Yes | $100 (11 780 KES) | No | đ Open Account |
| 8. eToro | Yes | $200 (23,000 KES) | No | đ Open Account |
| 9. FBS | Yes | $1 (116 KES) | No | đ Open Account |
| 10. HF Markets | Yes | $5 (2,000 KES) | Yes | đ Open Account |
10 Best Cryptocurrency Brokers in Kenya (Updated 2023)
- Exness – Overall, Best Cryptocurrency Broker
- IC Markets – Verified Kenyan Shilling Account
- AvaTrade – Top Cryptocurrency Broker for Beginner Traders
- FP Markets – Best Lowest Spread Broker in Kenya
- easyMarkets – User-Friendly Cryptocurrency NDD BrokerÂ
- Capital.com – Best Sign-Up Bonus Broker
- BDSwiss – Top Low Minimum Deposit Broker
- eToro – Largest Social Trading Broker in Kenya
- FBS – Best Cryptocurrency MT4/MetaTrader4 Broker
- HF Markets – Top Trading App Broker in Kenya
What is the Difference Between a Crypto Broker and a Crypto Exchange?
đ One major distinction between an exchange and a broker is the kind of customers served. Investors looking to hold cryptocurrencies for the long haul utilize cryptocurrency exchanges to buy the asset and sit on their hands while the price fluctuates.
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đ Speculative investors are the most common users of brokers; they are the ones who engage in a wide variety of transactions and take advantage of the many available instruments and techniques, including margin trading, that brokers provide.
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đ The broker is a means to an end since their primary goal is to generate short- or intermediate-term gains.
1. Exness
Overall Rating
- 4.9/5
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
đ Exness is a well-liked international broker that provides clients with access to nine distinct account types, including one of the industry’s most affordable Cent Accounts. Exness provides a wide selection of cryptocurrency pairings, with Bitcoin being the most popular.
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Unique Features
| Feature | Information |
| âïž Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| đ± Social Media Platforms | âąÂ Facebook âąÂ Twitter âąÂ Instagram âąÂ LinkedIn âąÂ YouTube |
| đ» Trading Accounts | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account |
| đ Trading Platform | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app |
| đ° Minimum Deposit | 5 USD or 580 KES |
| â Tradable Assets | Forex, Metals, Crypto, Energies, Indices, Stocks |
| đ Minimum spread | From 0.0 pips EUR/USD |
| âïž Demo Account | Yes |
| âȘïž Islamic Account | Yes |
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| âïž Pros | â Cons |
| Exness is well-regulated and keeps all client funds in segregated accounts with top-tier institutions | Exness offers a limited number of payment methods for deposits and withdrawals |
| Traders can choose between several retail investor accounts | Exness 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 |
2. IC Markets
Overall Rating
- 4.7/5
Total Pairs
65
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
đ IC Markets, known for its raw Forex spreads, is a broker that welcomes new clients and provides trading on 18 different cryptocurrency pairings.
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đ The accessibility of cryptocurrency trading and IC Markets’ round-the-clock customer service make it an attractive option for weekend traders and novices still finding their feet in the market.
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đ Video lessons, articles, regular webinars, and IC Markets WebTV are just some of the learning resources available from IC Markets. It also has a constantly updated market news section, as well as fundamental and technical analysis of the market.
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Unique Features
| Feature | Information |
| âïž Regulation | ASIC, CySEC, FSA, SCB |
| đ± Social Media Platforms | âą Instagram âą Facebook âą Twitter âą LinkedIn |
| đ» Trading Accounts | âąÂ cTrader Account âąÂ Raw Spread Account âąÂ Standard Account |
| đ Trading Platform | âąÂ MetaTrader4 âąÂ MetaTrader5 âąÂ cTrader |
| đ° Minimum Deposit | 23,000 KES or equivalent to $200 |
| â Trading Assets | âą Forex âą Commodities âą Indices âą Bonds âą Cryptocurrencies âą Stocks âą Futures |
| đ” Kenyan shilling Deposits Allowed? | No |
| âïž KES Deposits Allowed? | No |
| đ Minimum spread | 0.7 pips EUR/USD |
| âïž Demo Account | Yes |
| âȘïž Islamic Account | Yes |
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| âïž Pros | â Cons |
| IC Markets is a multi-regulated broker with a high trust score | The initial minimum deposit is higher than that of competitors |
| IC Markets offers a choice between three powerful trading platforms | A conversion fee may apply for Kenyan traders who fund their account in KES |
| Kenyan traders can expect institutional-grade liquidity | Kenyan traders cannot use KES as the base account currency for a trading account |
| IC Markets is one of few brokers that have a true ECN model | IC Markets does not offer any proprietary trading platforms |
| Hedging, scalping, and several other trading strategies are allowed | |
| Traders have access to a FIX API connection when they use cTrader | |
| There are low trading and non-trading fees, with the benefit of a demo and Islamic account | |
| IC Markets is transparent about its fee schedule, which further instils trust |
3. AvaTrade
Overall Rating
- 4.9/5
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
đ AvaTradeâs innovative mobile software, AvaTradeGO, offers a secure, straightforward interface for trading cryptocurrencies. AvaTradeGO gives investors a bird’s-eye perspective of their transactions, along with the ability to set up watchlists and see real-time quotes and charts.
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đ More than 1,250 assets, including 20 cryptocurrencies, are available for trading through the platform’s mobile app.
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đ Additionally, unlike many other brokers that limit customers to trading exclusively between cryptocurrencies, AvaTrade gives its customers the option of exchanging cryptocurrencies for fiat currency.
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Unique Features
| Feature | Information |
| âïž Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC |
| đ± Social Media Platforms | âąÂ Twitter âąÂ Instagram âąÂ Facebook âąÂ YouTube |
| đ» Trading Accounts | Standard and Options accounts |
| đ Trading Platform | âąÂ AvaTradeGO âąÂ AvaOptions âąÂ AvaSocial âąÂ MetaTrader 4 âąÂ MetaTrader 5 âąÂ DupliTrade âąÂ ZuluTrade |
| đ° Minimum Deposit | Equivalent to $100 – 11635,00 KES |
| â Tradable Assets | âąÂ Forex âąÂ Metals âąÂ Crypto âąÂ Energies âąÂ Indices âąÂ Stocks |
| đ” Trading Assets | 50 USD (5 835 KES) |
| đ Minimum spread | From 0.9 pips |
| âïž Demo Account | Yes |
| âȘïž Islamic Account | Yes |
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| âïž Pros | â Cons |
| AvaTrade is well-regulated in several jurisdictions | There are no variable spreads |
| There are more than 1,250 trading instruments available across financial markets | There is only one retail and one professional account |
| There are several useful trading tools offered to advanced traders | There are inactivity fees charged on dormant accounts |
| There is a choice between innovative and powerful trading platforms | There are currency conversion fees that may apply |
| AvaTrade offers competitive trading conditions to Kenyan traders | There is no KES-denominated account or local deposit and withdrawal options for Kenyans |
| There is an Islamic account option and a demo account | |
| AvaTrade is trusted and has won several awards since its inception | |
| There are several trading strategies that traders can use, and they have access to social trading opportunities |
4. FP Markets
Overall Rating
- 4.8/5
Min Deposit
USD 100 / 11560 KES
Regulators
ASIC, CySEC, FSCA
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
đ Among brokers that provide crypto trading to Kenyans, FP Markets stands out as a particularly cost-effective venue for trading FX and CFDs.
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đ FP Markets’ comprehensive collection of trading tools includes support for over 8,000 different symbols, of which 12 are cryptocurrency assets.
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Unique Features
| Feature | Information |
| âïž Regulation | ASIC, CySEC |
| đ± Social Media Platforms | âąÂ Instagram âąÂ Facebook âąÂ Twitter âąÂ YouTube |
| đ» Trading Accounts | Retail Account, Professional Account |
| đ Trading Platform | MT4/5 Standard Account, MT4/5 Raw Account, MT4/5 Islamic Standard Account, MT4/5 Islamic Raw Account |
| đ° Minimum Deposit | 8700 KES or 80 USD |
| â Trading Assets | âąÂ Forex âąÂ Shares âąÂ Metals âąÂ Commodities âąÂ Indices âąÂ Cryptocurrencies âąÂ Bonds |
| âïž Kenyan Shilling-Based Account | No |
| đ” KES Deposits Allowed? | No |
| đł Bonuses for Kenyan traders? | No |
| đ Minimum spread | 0.1 pips |
| âïž Demo Account | Yes |
| âȘïž Islamic Account | Yes |
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| âïž Pros | â Cons |
| FP Markets is a well-regulated broker | Administration fees charged on the Islamic Account |
| A dedicated Islamic account option are offered to Muslim traders | No fixed spread accounts offered |
| A wide range of markets can be traded across asset classes | Withdrawal fees charged |
| Powerful trading platforms for several devices are provided | |
| Kenyan traders receive an ECN pricing model with raw and tight spreads | |
| Fast trade execution through Equinix servers is guaranteed | |
| Copy-trading and automatic trading is offered | |
| Commission-free trading is possible | |
| No inactivity fees charged on dormant accounts |
5. easyMarkets
Overall Rating
- 4.9/5
Min Deposit
USD 200 / 23320 KES
Regulators
CFD
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
65
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
đ There are now 20 cryptocurrency assets that are available for trading via easyMarkets, a licensed market maker. When it comes to introducing ground-breaking features like negative balance protection and a guaranteed stop-loss, easyMarkets has always been at the forefront.
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đ To aid traders in mitigating risk, the company has introduced new features such as easyTrade, Freeze Rate, and dealCancellation.
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Unique Features
| Feature | Information |
| âïž Regulation | BVI FSC, CySEC, ASIC, FSA |
| đ± Social Media Platforms | âąÂ Instagram âąÂ Twitter âąÂ Weibo âąÂ LinkedIn âąÂ YouTube |
| đ» Trading Accounts | âąÂ Standard Account âąÂ Web/App âąÂ Standard Account MT4 âąÂ Premium Account Web/App âąÂ Premium Account MT4 âąÂ VIP Account Web/App âąÂ VIP Account MT4 |
| đ Trading Platform | âąÂ easyMarkets Platform âąÂ MetaTrader 4 âąÂ TradingView |
| đ° Minimum Deposit | 2,800 KES or equivalent to $25 |
| đ” Trading Assets | âą Forex âą Shares âą Cryptocurrencies âą Precious Metals âą Commodities âą Indices |
| âïž Kenyan Shilling-based Account? | No |
| đ” KES Deposits Allowed? | Yes |
| đž Bonuses for Kenyan traders? | Yes |
| đ Minimum spread | From 0.0 pips |
| âïž Demo Account | Yes |
| âȘïž Islamic Account | Yes |
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| âïž Pros | â Cons |
| easyMarkets is well-regulated by several entities including ASIC, CySEC, BVI FSC, and FSA | There are no variable spreads offered |
| easyMarkets offers a range of markets that can be traded | Market Maker broker that takes the opposite side of trades, which means that the loss for a trader is a win for the broker |
| Kenyan traders are given access to several innovative features and benefits | There is an inactivity fee applied to dormant accounts |
| Kenyan traders have access to free guaranteed stops | |
| There are tight and competitive spreads charged | An inactivity fee is charged on dormant accounts |
| easyMarkets offers both TradingView and Trading Central | |
| easyMarkets offers innovative and powerful trading software | |
| There is a range of educational materials and advanced trading tools | |
| Deposit fees and withdrawal fees are not charged | |
| Commission-free trading is offered |
6. Capital.com
Overall Rating
- 4.5/5
Min Deposit
USD 20 / 2330 KES
Regulators
CYSEC, ASIC, FCA and NBRB licence Seychelles coming soon
Trading Desk
Market maker
Crypto
Yes
Total Pairs
â
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
đ Capital.com is a very reputable cryptocurrency exchange that offers trading in a wide variety of coin pairings. Trading cryptocurrencies incurs no fees, and traders may take advantage of leverage of up to 1:2, which is standard among crypto brokers who try and protect their traders.
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đ In addition to Forex, indices, commodities, and equities, Capital.com offers trading in over 6,000 CFDs. Capital.com has a wide variety of resources for traders of all skill levels, including instructional articles and market analyses.
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Unique Features
| Feature | Information |
| âïž Regulation | FCA, ASIC, CySEC, NBRB, FSA |
| đ± Social Media Platforms | âą Instagram âą Facebook âą Twitter âą YouTube âą LinkedIn |
| đ» Trading Accounts | âą One Live Account with the option for Retail or Professional âą Demo Account |
| đ Trading Platform | âąÂ Capital.com âąÂ MetaTrader 4 âąÂ TradingView |
| đ° Minimum Deposit | 2,300 KES or an equivalent to $20 |
| â Trading Assets | âą Indices âą Forex âą Commodities âą Cryptocurrencies âą Shares |
| âïž Kenyan Shilling-based Account? | No |
| đ” KES Deposits Allowed? | Yes |
| đ Minimum spread | From 0.0 pips |
| âïž Demo Account | Yes |
| âȘïž Islamic Account | Yes |
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| âïž Pros | â Cons |
| Capital.com offers regular live updates and price alerts for a wide range of markets | The spreads are marked-up |
| There are no commissions charged on trades | There is no KES-denominated trading account offered to Kenyan traders |
| Kenyan traders can expect market-leading spreads and fast trade execution speeds | |
| Well-regulated and considered a safe broker | |
| The demo account is available for an unlimited time | |
| There are excellent training materials, and the broker offers an AI-technology driven platform |
7. BDSwiss
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 11660 KES
Regulators
CySec, FSC, FSA, BaFin, NFA
Trading Desk
MetaTrader 4 , MetaTrader 5
Crypto
Yes
Total Pairs
50 Forex Pairs and 20 Crypto Pairs
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
đ BDSwiss has expanded its cryptocurrency exchange offerings and currently supports 32 different coin pairings.
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đ At BDSwiss, you may get leverage of up to 1:5 without paying any commissions. BDSwiss provides complete support for MT4, MT5, and a custom BDSwiss WebTrader program.
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đ The trading platforms offered by BDSwiss include a comprehensive set of analytical tools and sophisticated charting, plus a wide variety of other tradable assets on four real accounts.
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Unique Features
| Feature | Information |
| âïž Regulation | CySEC, FSC, BaFIN, FSA |
| đ± Social Media Platforms | âąÂ Facebook âąÂ Twitter âąÂ LinkedIn âąÂ Instagram âąÂ YouTube âąÂ Blog âąÂ Telegram |
| đ» Trading Accounts | âą Classic Account âą Premium Account âą VIP Account âą RAW Account |
| đ Trading Platform | âąÂ MetaTrader 4 âąÂ MetaTrader 5 âąÂ BDSwiss Mobile âąÂ BDSwiss Web âąÂ cTrader |
| đ° Minimum Deposit | $100 |
| â Trading Assets | âąÂ Forex âąÂ Commodities âąÂ Shares âąÂ Indices âąÂ Cryptocurrencies |
| âïž Kenyan Shilling-based Account? | No |
| đ° KES Deposits Allowed? | No, only USD, GBP, EUR |
| đ Minimum spread | From 0.3 pips |
| âïž Demo Account | Yes |
| âȘïž Islamic Account | Yes |
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| âïž Pros | â Cons |
| BDSwiss is well-regulated and offers services to countries worldwide | There are withdrawal fees charged |
| BDSwiss provides CTrader as multi-asset third-party trading platform for Forex and CFD trading. | The BDSwiss trading platform is not offered as a desktop application |
| Traders can choose from over 250 financial instruments that can be traded using powerful trading platforms | |
| BDSwiss offers MetaTrader and its own proprietary trading platforms on Web and Mobile devices | |
| BDSwiss has won several awards since its inception, proving that it is a reputable and reliable trading provider | |
| Demo accounts and Islamic accounts are offered | |
| BDSwiss caters for both beginner and professional traders |
8. eToro
Overall Rating
- 4.8/5
Min Deposit
USD 50 / 5780 KES
Regulators
CySec, FCAÂ
Trading Desk
None
Crypto
Yes
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.
Overview
đ Since 2007, eToro has serviced retail customers with forex products and other CFD derivatives. One of eToro’s strongest points is its social trading features, which let novice users mimic the actions of the platform’s most successful traders.
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đ For many, eToro’s social trading platform represented a sea shift in the way they previously engaged in trading and investing. Using a social trading account, Kenyans can easily mimic the transactions of another trader or investor.
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Unique Features
| Feature | Information |
| âïž Regulation | CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC. |
| đ± Social Media Platforms | âą Instagram âą Facebook âą Twitter âą YouTube âą LinkedIn |
| đ» Trading Accounts | One Standard Live Trading Account with the option for Retail and Professional |
| đ Trading Platform | eToro proprietary platform |
| đ° Minimum Deposit | 23,000 KES or equivalent to $200 |
| â Trading Assets | âą Forex Pairs âą Commodities âą Exchange-traded funds (ETFs) âą Indices âą Crypto Assets Stocks |
| đ” Kenyan shilling Deposits Allowed? | No, only USD, GBP, EUR, and AUD |
| âïž KES Deposits Allowed? | No |
| đ Minimum spread | 0.0 pips |
| âïž Demo Account | Yes |
| âȘïž Islamic Account | Yes |
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| âïž Pros | â Cons |
| eToro is a well-established platform that is well-regulated in several regions | Forex and CFD trading is slightly more expensive than competitors |
| eToro is known for its unique, comprehensive, and robust social trading capabilities | There is a lack of research materials and tools |
| The broker has multiple Tier-1 regulations which make it a highly trusted, low-risk broker | Automated trading strategies are not allowed |
| It offers Kenyans a user-friendly trading platform for web and mobile use | There is no KES-denominated account |
| There is a large range of markets offered | There is only one retail account and one trading platform offered |
| There are VIP perks for eToro club members | |
| eToro has a comprehensive and highly rewarding affiliate program | |
| eToro offers commission-free trades |
9. FBS
Overall Rating
- 4.7/5
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
Welcome Bonus
$140 (16 373 KESFind out More)
Account Activation Time
24 Hours
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Overview
đ If you want to test the waters in the world of cryptocurrency trading, an FBS crypto account is a solid choice. The fast price fluctuations of digital currencies like Bitcoin, Ethereum, and others provide opportunities for traders. Also, unlike the regular market, crypto trading may take place at any time of the day.
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đ More than a hundred different instruments, including cryptocurrencies, crypto-fiat crosses, crypto-coin crosses, and crypto-metal crosses, are supported in the FBS crypto account.
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Unique Features
| Feature | Information |
| âïž Regulation | IFSC, CySEC |
| âïž CBN Regulation | No |
| âïž Accepts Kenyan Traders? | Yes |
| đł Minimum deposit (NGN) | 400 Kenyan Shilling ($1) |
| Average spread from | 0.0 pips EUR/USD |
| đ Maximum Leverage | 1:3000 |
| đ„ Customer Support | Â 24/7 |
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| âïž Pros | â Cons |
| FBS offers competitive trading conditions with some of the lowest spreads | There are wide spreads charges on some accounts |
| There are several account types to choose from | There is a limited number of tradable instruments |
| There are many social trading opportunities | There are several regional restrictions applied |
| There is an ultra-low minimum deposit requirement | |
| The broker is well-regulated and trusted |
10. HF Markets
Overall Rating
- 4.8/5
Min Deposit
USD 0 / 0 KES
Regulators
CMA, CySEC, FSC, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5, HFM Trading AppÂ
Crypto
No
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
đ HF Markets is one of the most popular crypto brokers and trading platforms in the world, serving clients from around the world.
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đ HF Markets is known for its competitive spreads and assortment of account types that suit the needs of all Kenyan traders despite their trading experience or objectives.
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Unique Features
| Feature | Information |
| âïž Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions |
| âïž CBN Regulation? | No |
| đ Trading Accounts | MT5/MT 4 Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account |
| đ Trading Platform | MetaTrader 4, MetaTrader 5 |
| đ° Minimum Deposit (âŠ) | 2,000 Kenyan Naira equivalent to $5 |
| đ° Trading Assets | Forex Currency Pairs, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| đ Kenyan Naira-based Account? | No |
| đł NGN Deposits Allowed? | No |
| đ° Bonuses for Kenyan traders? | Yes |
| đ Minimum spread | 0.0 pips EUR/USD |
| đ Demo Account | Yes |
| âȘïž Islamic Account | Yes |
| âŽïž Social Trading Offered | Yes |
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| âïž Pros | â Cons |
| Well-regulated in several global regions | There are no variable spread accounts |
| Offers some of the lowest spreads in the forex market on major currency pairs | There is a limited selection of funding options and withdrawal methods. |
| There are several account types to choose from | |
| HotForex accommodates all types of traders despite their trading strategies | |
| Low minimum deposit requirement | |
| Beginner traders and professional investors are both welcome | |
| Educational tools, advanced trading tools, and several other comprehensive solutions are offered | |
| There is a comprehensive market analysis offered | |
| Technical analysis and fundamental analysis offered |
How to choose the right Crypto Broker in Kenya
đ Kenyan traders must evaluate the following components of a cryptocurrency broker to decide whether the broker is suited to their unique trading objectives and/or needs.
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Credibility and Reliability
đ The cryptocurrency market is noticeably young in comparison to other markets, however just because it is new does not imply that every broker you come across is unskilled. There are reputable and knowledgeable crypto brokers available for you to work with.
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đ They have the appropriate credentials, such as licenses issued by well-known and respectable regulatory authorities, and they have experts working on their team.
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đ Additionally, they have the appropriate qualifications. It is possible to read reviews written about the broker and get insight into the services they provide to choose whether you should work with them.
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Trading Platform
đ A broker’s trading platform needs to be intuitive and feature-rich for crypto traders, just as it would be for FX traders. There are several reasons why these kinds of systems are essential.
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đ First, they make bitcoin trading very convenient for their customers. A wide variety of choices are available to users of a well-designed platform. These choices exist just to ease the way for both new and seasoned bitcoin traders.
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đ A broker, particularly one just getting started in the bitcoin industry, cannot function properly without these platforms. Verify the broker’s web platform is innovative.
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Financial Background
đ Do not get into business with a broker whose net worth is lower than the money you want to invest. To be considered a reliable cryptocurrency broker, a company must have access to substantial funds. This ensures that your cryptocurrency holdings are secure and that your broker will not go under.
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Customer Service
đ Since cryptocurrency trading is available around the clock, questions and issues might arise whenever they arise. Finding a broker who is accessible at all hours of the day and night is, therefore, highly recommended.
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đ Regardless of the time zone, you should be able to contact a knowledgeable support staff that will respond quickly and professionally to your inquiries and concerns.
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Technical Assistance
đ Providing excellent customer service is one thing, but providing stellar technical assistance is something quite else.
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đ Brokers often have technical support departments to assist clients with issues that need in-depth knowledge in a certain area. Many cryptocurrency exchanges provide no means of contacting technical support staff.
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đ They believe that their customer service staff is sufficient to carry out all their duties. However, things are quite different. You cannot operate a successful crypto brokering firm without a dedicated and knowledgeable technical support staff.
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đ Most significantly, the team should be made up of veterans in the crypto space that has worked in the field for many years. They should have an intimate familiarity with the system and be able to provide you with quick, effective answers.
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Fees and Commissions
đ When choosing a cryptocurrency broker, it is important to research the charges they impose. Obtain specific information from the broker about the fees they charge and any other potential dangers so that you can make an informed choice.
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Overall Longevity
đ Some trustworthy cryptocurrency brokers may have just lately entered the market, although these instances are exceedingly rare. If a cryptocurrency broker has been around for a long time, then it must be doing something well since customers will continue to use it.
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Registration Process
đ Sign-up procedures for cryptocurrency brokers provide incredibly detailed information about them. Experts in the field can tell immediately whether a broker is reliable only by observing its onboarding procedure.
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đ In the beginning, you could struggle with this. You will be able to tell the legitimate brokers from the scammers more easily as time goes on. The presence of a vast number of depositing fees is a glaring red flag in certain sign-up procedures.
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đ If a cryptocurrency broker requires a big initial payment from new customers, chances are good that they are a fraud. This is even more apparent when considering that most reputable cryptocurrency brokers charge their clients next to nothing to trade.
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đ Instead of dealing with crypto brokers that demand exorbitant deposits, consider working with brokers like these. The process’s safety should be verified, too. Checking for an SSL certificate is as simple as searching in the upper left corner of your browser’s search bar.
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đ Because of this certificate, you can rest assured that the site you are visiting is secure and will not expose any of your personal data to hackers.
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Convenience
đ If a cryptocurrency exchange cannot make your life easier, they are not worth your time. Instead of dealing with an uncomfortable cryptocurrency broker, you may as well trade on your own. Everything in this field is changing quickly due to the dynamic nature of the environment.
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đ If you want to make the best choices at the correct times, you need to keep current on a broad range of topics. That is if your broker provides you with tools that make your trading easier.
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Practice Trading
đ Quite a few circumstances might arise in cryptocurrency trading, making it a complex endeavour. You will not know how to make the proper choices at the right times if you are just starting in this industry. What will happen is that you will lose a lot of money because of this.
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đ Avoiding these errors is easy by using demo trading, which simulates real-world trading conditions without any monetary risk to the trader. Since there is no potential for profit or loss, this choice is neutral, but you will gain knowledge about the processes involved in crypto trading.
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Education and Research
đ Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:
âĄïž eBooks
âĄïž Trading guides
âĄïž Trading knowledge on leveraged products
âĄïž A risk warning on complex instruments
âĄïž Educational videos
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đ Research can include some of the following:
âĄïž Trading tools
âĄïž Commentary
âĄïž Status of International Markets
âĄïž Price movements
âĄïž Market sentiments
âĄïž Whether there is a volatile market
âĄïž Exchange Rates
âĄïž Expert opinions and several other resources can help experienced traders make informed trading decisions.
The Best Crypto Brokers in Kenya
đ In this article, we have listed the best crypto brokers that offer MetaTrader 4 to traders in Kenya. We have further identified the crypto brokers that offer additional services and solutions to Kenyan traders.
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Best Crypto Broker for beginners in Kenya
Overall Rating
- 4.9/5
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
đ Overall, AvaTrade is the best Crypto Broker for beginners in Kenya. AvaTrade provides offers powerful trading technology and a wealth of resources for learning and analysing the market. The AvaTrade mobile app, AvaTradeGO, has been recognized for excellence.
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Best Low Minimum Deposit Crypto Broker in Kenya
Overall Rating
- 4.7/5
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
Welcome Bonus
$140 (16 373 KESFind out More)
Account Activation Time
24 Hours
đ Overall, FBS is the best Low Minimum Deposit Crypto Broker in Kenya. FBS is a low-risk and licensed worldwide broker that offers many account types. This includes a zero-deposit starter account and a crypto-specific account with a 110 KES minimum deposit.
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Best ECN Crypto Broker in Kenya
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 11560 KES
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
đ Overall, Tickmill is the best ECN Crypto Broker in Kenya. Tickmill is an excellent trading platform for both novice and seasoned investors. The STP and ECN trading conditions that Kenyans can expect ensure that all orders are filled in record timing with no requotes and minimal slippage.
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Best Islamic / Swap-Free Crypto Broker in Kenya
Overall Rating
- 4.5/5
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
đ Overall, SuperForex is the best Islamic / Swap-Free Crypto Broker in Kenya. SuperForex welcomes as many customers as possible by offering a wide variety of trading account options and a decent number of crypto assets.
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đ SuperForex offers Muslim traders the best choice between dedicated Islamic Swap-Free Accounts. Each account offers halal trading and exempts traders from overnight fees.
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Best Crypto Trading App in Kenya
Overall Rating
- 4.5/5
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)Â
Account Activation Time
24 Hours
đ Overall, XM is the best crypto trading app in Kenya. XM offers competitively cheap costs and top-notch resources for learning through a proprietary trading app.
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đ The XM app is user-friendly and straightforward for Kenyans to install and use for searching for and tracking assets and transactions.
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Best Kenyan Shilling Trading Account Crypto Broker in Kenya
Overall Rating
- 4.9/5
Min Deposit
USD 10 / 1156 KES
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
đ Overall, Exness is the best Kenyan Shilling trading account Crypto Broker in Kenya. Exness not only welcomes Kenyan traders but provides trading accounts in their local currency.
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đ With a KES account, Kenyan traders can trade a range of markets, including cryptocurrencies.
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Best Lowest Spread Crypto Broker in Kenya
Overall Rating
- 4.8/5
Min Deposit
USD 100 / 11560 KES
Regulators
ASIC, CySEC, FSCA
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
đ Overall, FP Markets is the best lowest spread Crypto Broker in Kenya. The ECN pricing technique used by FP Markets guarantees competitive pricing for cryptocurrency traders in Kenya. Trading fees for MetaTrader accounts are often lower than those charged by competing brokers.
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Best NDD Crypto Broker in Kenya
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 11560 KES
Regulators
CySec, ASIC, FCA, BVI FSC, FSCA
Trading Desk
MetaTrader 4, MetaTrader 5, Markets.com propietary platform
Crypto
Yes
Total Pairs
67
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
đ Overall, Markets.com is the best NDD Crypto Broker in Kenya. Markets.com is a popular No-Dealing Desk broker that offers some of the best trade execution speeds to Kenyans.
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đ Markets.com is the best option for high-frequency and high-volume Kenyan traders.
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Best STP Crypto Broker in Kenya
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
đ Overall, RoboForex is the best STP Crypto Broker in Kenya. RoboForex offers some of the best STP and ECN trade execution on all its trading accounts.
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đ Kenyans can choose from an exceptionally broad range of tradable instruments including cryptocurrency pairs.
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Best Sign-up Bonus Crypto Broker in Kenya
Overall Rating
- 4.1/5
Min Deposit
USD 100 / 11560 KES
Regulators
Not Regulated
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
đ Overall, MTrading is the best sign-up bonus Crypto Broker in Kenya. MTrading is one of the best no-deposit bonus brokers that offer comprehensive trading solutions to Kenyans.
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đ Kenyans can choose from three account types when they register for the first time. Once their account has been verified, Kenyans can gain a 30% welcome no-deposit bonus which will provide them credit that can be used to trade the markets risk-free.
Advantages of trading Cryptocurrency through a broker in Kenya
đ If you are unfamiliar with trading cryptocurrencies, you may want to consider using a broker instead of an exchange.
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đ Brokers provide a wealth of resources for learning about cryptos and the many trading options available, as well as effective tactics and how to put them into practice.
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đ However, not all markets provide resources for crypto traders, such as tutorials, news, and blogs. Many novice traders have lost money because they lacked even a fundamental understanding of cryptocurrencies, trading, and the inner workings of a cryptocurrency exchange.
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đ Importantly, a broker will often provide a practice account in which you can trade using virtual funds instead of your own money. You can also use these practice accounts until you feel confident in your knowledge of the market and your ability to trade profitably.
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You have access to a range of trading options
đ Contracts for Difference (CFDs) are one of many types of financial instruments that could be used for trading cryptocurrencies. This is a strategy that has several potential benefits.
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You can trade using Margin
đ Cryptocurrency Contracts for Difference (CFDs) allow traders to use leverage to increase their exposure and gains.
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đ This is because the broker will loan you the balance of the money you need to complete a deal if you just put down a little amount (the margin requirement, often expressed as a percentage).
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You can trade both directions (Buy and/or Sell)
đ You can speculate on the future increase or decrease in value of a cryptocurrency via Contracts for Difference (CFD) trading. To “go long” on a cryptocurrency is to purchase it with a CFD in the hopes of profiting from an increase in its value.
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đ If you “short” cryptocurrency, you sell it at a certain price with the expectation that its value will decrease. You can then purchase it back and pocket the difference between the sale price and the buy price.
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You can Hedge your positions
đ Trading Contracts for Difference (CFDs) could also be used to hedge crypto holdings. Opening trades in such a way that any change in the value of one position is cancelled out by changes in the value of the other is what this means.
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đ Positions may be insured against loss even if the underlying cryptocurrency is not owned by the hedger. You may now wager on the value of the cryptocurrency without ever having to deal with the hassle of setting a cryptocurrency exchange account or constructing a cryptocurrency wallet.
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Crypto Brokers offer improved security
đ Trading cryptocurrencies may be a very risky venture, and not simply because of market fluctuations. If you choose to trade cryptocurrencies without using CFDs, you will want to be sure your funds are secure.
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đ While your money is protected in a broker’s account due to insurance and other safeguards, exchanging digital currencies is not necessarily as secure. Furthermore, security is not an issue when trading cryptocurrencies using CFDs since you never really own the underlying asset.
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You have more Flexibility with a Crypto Broker
đ You can use an exchange to purchase and sell Bitcoin and other cryptocurrencies like Ethereum for fiat currency or other cryptocurrencies. Your choice in which exchange to trade on depends on the trading pairs they provide.
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đ However, if you choose to fund your trading account in US dollars, you will be limited to trading exclusively in pairings that include the US currency, such as BTC/USD and ETH/USD.
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đ In contrast, while working with a broker, you can open an account in any currency and trade in any pair you choose. You could close a position at any point throughout the trading day when using CFDs to trade cryptocurrencies.
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đ Given the extreme price volatility of cryptocurrencies, this means you could maintain a position for as long as you choose, whether that’s seconds, minutes, or hours. You can even keep a spot overnight for a fee, which is all that this entails.
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đ In addition, several brokers provide a range of transaction size choices, making the market accessible to traders of all experience levels. This includes inexperienced traders who want to try out different approaches to the markets while keeping their losses manageable.
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đ If you want to buy or sell cryptocurrencies on an exchange, you will need both an exchange account and a wallet to keep your funds.
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đ However, this method may seem limited and prolonged at times. When trading cryptos through CFDs, none of this is required since you do not own the underlying asset.
Pros and Cons of Trading Cryptocurrency CFDs in Kenya
| âïž PROS | â CONS |
| Elevated levels of short-term speculative interest have contributed to tremendous volatility in the cryptocurrency market, which has made it appealing to traders. Profitability increases as volatility rises. | Cryptocurrencies provide traders with a wild ride with enormous profit potential, but the opposite is also true. |
| Direct purchases of cryptocurrency via an exchange are often made with the expectation that the asset’s value would rise. When trading the price of a cryptocurrency through a CFD, however, you may profit from both rising and falling markets. | While using leverage may enhance your chances of making a profit while trading cryptocurrencies, it can also greatly raise your danger of losing a generous sum of money. |
| Trading cryptocurrency CFDs allows you to leverage your access and exposure to the underlying asset without really owning any of it. | Due to the low transaction costs associated with trading CFDs using leverage, it is simple for investors to overextend themselves. This may cause them to be overexposed to the markets at any moment, leaving them with inadequate funds to weather portfolio-wide losses. |
| Using CFDs eliminates the need for you to secure your bitcoin holdings. Unlike funds kept in a bank or invested via a broker, cryptocurrency holders are not afforded the same level of security. Therefore, if you lose your crypto, you will never get it back. | The advantages of ownership, such as the regular income from stocks or bonds, are unavailable since you do not own the underlying asset. |
| Using CFDs, you may close a crypto position at any point throughout the trading day. That gives you the freedom to maintain your posture for as long as you choose whether it is a few seconds, minutes, or even hours. | Due to the and other considerations, CFDs are best used as a short-term trading technique rather than as a long-term investment. Long-term ownership of long positions might be prohibitively expensive due to overnight borrowing fees alone. |
| In the case of contracts for difference (CFDs), the broker might potentially default on the transaction. |
Conclusion
đ Those in Kenya interested in trading cryptocurrencies should look for a reputable broker that offers a user-friendly trading platform with a large variety of crypto assets and pairings, as well as the ability to undertake technical analysis with relative ease.
FAQ
Can you buy crypto in Kenya?
Yes, you can either purchase or sell crypto through an exchange, or you can trade it as a CFD through a cryptocurrency broker.
How can I start trading crypto in Kenya?
You can start by evaluating and testing suitable crypto brokers. Once you have found one that you like, you can register a demo account to test the trading platform. If you are happy with your decision, you can register an account and start trading.
How do I sell crypto in Kenya?
If you have cryptocurrency coins, you need to sell them for cash on a crypto exchange. CFDs can be bought and sold through a Crypto CFD broker.
Is crypto allowed in Kenya?
Cryptocurrency trading is not prohibited but the Central Bank of Kenya does not recognize digital currency as a legal tender. Thus, if Kenyans experience monetary loss because their broker or exchange closes or is fraudulent, they will not receive any support from the Kenyan government.
Does Kenya use blockchain?
Kenya is one of the most prominent African countries in terms of cryptocurrency holdings as well as the use of blockchain for transactions.
Top 4 Brokers
