Top 8 Locally Based Brokers
7 Best Forex Brokers with a Minimum $100 Deposit in Kenya
The 7 Best Forex Brokers with a Minimum $100 Deposit in Kenya revealed. We tested the best forex trading platforms for Kenyan Traders.
This is a complete guide to the $100 Minimum Deposit Forex Brokers in Kenya.
In this in-depth guide you’ll learn:
- What is a $100 (11 668 KES) Minimum Deposit Broker?
- Which forex traders offer the best trading platforms for trading with a 100 USD (11 668 KES) Minimum Deposit?
- Which NASDAQ Brokers offer a low minimum deposit?
- How to compare the best brokers against each other?
- Which forex brokers are best for beginner Kenayn Traders?
- Which brokers offer a sign-up bonus on a 100-dollar minimum deposit for first-time traders in Kenya?
- Which brokers offer a low minimum deposit of $100 (11 668 Kenyan Shilling) to start trading?
- Which $100 minimum deposit brokers offer MetaTrader4/MT4 and MetaTrader5/MT5 trading platforms?
- Which forex brokers offer a mobile app on IOS and Android for Kenyan Traders?
And lots more…
So if you’re ready to go “all in” with the best $100 minimum deposit forex brokers…
Let’s dive right in…
10 Best Forex Brokers in Kenya for 2023
Rank
Broker
Review
Regulators
Min Deposit
Official Site
- Louis Schoeman
Best Forex Brokers with a Minimum $100 Deposit in Kenya (Updated 2023)
| 🥇 Broker | 💰 Minimum Deposit? | 💸 Kenyan Shilling (KES) Deposits Allowed? | ✔️ Offers Kenyan Shilling Account? | 👉 Open Account |
| 1. Exness | 100 USD (11 668 KES) | Yes | Yes | 👉 Open Account |
| 2. AvaTrade | 100 USD (11 668 KES) | Yes | Yes | 👉 Open Account |
| 3. HF Markets | 100 USD (11 668 KES) | Yes | Yes | 👉 Open Account |
| 4. Tickmill | 100 USD (11 668 KES) | Yes | Yes | 👉 Open Account |
| 5. CM Trading | 100 USD (11 668 KES) | Yes | Yes | 👉 Open Account |
| 6. OctaFX | 100 USD (11 668 KES) | Yes | Yes | 👉 Open Account |
| 7. BD Swiss | 100 USD (11 668 KES) | Yes | Yes | 👉 Open Account |
7 Best Forex Brokers with a Minimum $100 Deposit in Kenya (Updated 2023)
- Exness – Overall, the Best Minimum $100 Deposit in Kenya
- AvaTrade – Best Volatility 75 Forex Broker
- HF Markets – Best MetaTrader5/MT5 with a $100 Minimum Deposit
- Tickmill – Best Forex Broker for Beginner Kenyan Traders
- CM Trading – Best NDD Broker with a Minimum $100 Deposit
- OctaFX – Best Trading App Forex Broker in Kenya
- BD Swiss – Best Low Spread Broker with a $100 Minimum Deposit
What are forex brokers with a minimum $100 deposit?
👉 Forex brokers with a minimum $100 deposit are those that will let you start trading with them by depositing a minimum of 100 USD with them. $100 is a good starting point for beginner traders who are still feeling out the financial markets but will also suit professional traders when testing out new strategies.
1. Exness
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
Overview
👉 Exness is a low-risk CFD and Forex broker licensed and regulated by a number of authorities. Exness offers a variety of account types that are flexible and adaptable, and also some of the best trading conditions in the market.
👉 Exness was founded in 2008 and now offers over 200 financial products, a variety of retail account types, and a plethora of information to traders.
👉 Exness is one of Kenya’s most popular brokers, despite the fact that it is not yet regulated by the Capital Markets Authority (CMA).
👉 The website of the Exness Group is available in 18 languages, and customer service is offered in 13 languages 24 hours a day, seven days a week.
👉 Furthermore, customers have access to leverage, which can significantly reduce margin requirements and allow for more flexible trading strategy management. Exness also offers traders the ability to withdraw cash instantly through a variety of electronic payment channels, giving them complete control over their funds.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| 📱 Social Media Platforms | • Facebook • YouTube |
| 💻 Trading Accounts | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app |
| 💰 Minimum Deposit | $100 (11 668 KES) |
| ✅ Tradable Assets | Forex, Metals, Crypto, Energies, Indices, Stocks |
| 📉 Minimum spread | From 0.0 pips EUR/USD |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ 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 |
Trust Score
🥇 Exness has a trust score of 97%.
2. 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
👉 AvaTrade was launched in 2006 as a worldwide CFD and FX broker. It is overseen by several reputable financial authorities. AvaTrade is a member of the AVA Group of enterprises, a renowned worldwide company.
👉 While AvaTrade is not regulated or authorized by the Capital Markets Authority (CMA) in Kenya and the broker does not have local offices in Nairobi, AvaTrade is a trusted and highly recommended broker for Kenyan traders who want to participate in global financial markets.
Unique features
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC |
| 📱 Social Media Platforms | • Twitter • YouTube |
| 💻 Trading Accounts | Standard and Options accounts |
| 📊 Trading Platform | • AvaTradeGO • AvaOptions • AvaSocial • MetaTrader 4 • MetaTrader 5 • DupliTrade • ZuluTrade |
| 💰 Minimum Deposit | $100 (11 668 KES) |
| ✅ Tradable Assets | • Forex • Metals • Crypto • Energies • Indices • Stocks |
| 💵 Trading Assets | Equivalent to $100 – 11635,00 KES |
| 📉 Minimum spread | From 0.9 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ 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. |
Trust score
🥇 The trust score for AvaTrade is 93%.
3. 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 App
Crypto
No
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 HF Markets, formerly HotForex, is a low-risk CFD and forex broker for Kenyan traders, receiving a 9/10 rating for trading conditions, retail investor accounts, client fund security, and customer service.
👉 HF Markets is regulated by a number of respected organisations, including the Kenyan Capital Markets Authority (CMA), which recently gave HFM Investments Limited, a subsidiary of the brokerage firm, a licence.
👉 HF Markets is a proud MetaTrader broker, offering MetaTrader 4 and MetaTrader 5 trading platforms. Retail investor accounts at HF Markets are suitable for both rookie and experienced traders, as well as professional traders looking for a competitive edge.
👉 To accommodate traders with varied trading styles, trading talents, and investment objectives, each retail trading account has its own set of features and trading conditions. HF Markets has over 2.5 million active accounts and has earned over 55 forex industry awards in the last decade.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 📱 Social Media Platforms | • Facebook • Telegram • YouTube |
| 💻 Trading Accounts | Micro Account, Premium Account, HF copy Account, Zero Spread Account, Auto Account |
| 📊 Trading Platform | MetaTrader 4 and MetaTrader 5 |
| 💰 Minimum Deposit | $100 (11 668 KES) |
| 💵 Trading Assets | Forex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| 💸 Bonuses for Kenyan traders? | Yes |
| 📉 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| Tight, competitive spreads from 0.0 pips on EUR/USD are offered | HF 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 |
Trust Score and Kenyan Market Share
🥇 HotForex has a trust score of 83% and a Kenyan market share of 2.5%.
4. Tickmill
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
Overview
👉 Tickmill is a low-risk broker with an 81% trust score. Tickmill is well-regulated by reputable entities such as the FSA, FCA, CySEC, Labuan FSA, FSCA.
👉 Despite its lack of regulation through the Capital Markets Authority (CMA), Kenyan traders can trust Tickmill. Tickmill is a standard MetaTrader broker and its VIP and Pro accounts do provide highly attractive commission-based pricing for professionals.
👉 Tickmill also offers traders a wide range of trading tools and instructional resources. In addition to low spreads, huge leverage, and fast execution speeds, Tickmill offers a wide range of CFD currency, stock, commodity, and index CFDs.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| 💻 Trading Accounts | Pro Account, Classic Account, VIP Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5 |
| 💰 Minimum Deposit | $100 (11 668 KES) |
| ✅ Trading Assets | Forex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies |
| ✔️ Deposits Allowed | USD, GBP, EUR, IDR, CNY, VND, or RUB |
| 📉 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| Tickmill offers robust trading platforms and innovative mobile trading | Tickmill spreads are not the tightest |
| Tickmill has a very high trust score and is known for its competitive trading conditions | Currency conversion fees will apply for foreign deposits |
| Advanced traders can use a range of tools including FIX API, AutoChartist, VPS, and others | No fixed spread accounts are offered |
| There are several convenient funding options available including Skrill, Neteller, and more |
Trust Score
🥇 Tickmill has a trust score of 81%
5. CM Trading
Overall Rating
- 4.8/5
Min Deposit
USD100
Regulators
FSA
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
154
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 CM Trading is a South African-based broker that offers some of the best retail trading accounts to Kenyan traders, giving it a large market share in the country.
👉 CM Trading accepts Kenyan traders even though the Capital Markets Authority (CMA) does not regulate the broker.
👉 Currencies, stock indexes and commodities can be traded across powerful trading platforms offered by CM Trading. Energies, metals, and agricultural commodities are all available for commodity traders along with several other cryptos and forex pairs.
👉 CM Trading’s innovative trading platforms and unmatched liquidity are available to all levels of traders. International and worldwide customers can benefit from a broad range of modern trading solutions.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSA, FSCA |
| 📱 Social Media Platforms | • Facebook • YouTube |
| 💻 Trading Accounts | • Bronze Account • Silver Account • Gold Account • Premium Account |
| 📊 Trading Platform | • MetaTrader 4 • CM Trading Web • CopyKat • Expert Advisors • Trading apps |
| 💰 Minimum Deposit | $100 (11 668 KES) |
| ✅ Tradable Assets | • Currency trading • Stocks • Indices • Cryptocurrencies • Commodities • CFDs |
| 📉 Minimum spread | From 0.9 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| CM Trading has a high trust score | The spreads are competitive, but they are not the lowest |
| CM Trading is a well-regulated broker | There are deposit and withdrawal fees charged on crypto funding |
| Clients’ funds are stored in segregated accounts separate from CM Trading’s operational accounts and funds | There is an inactivity fee that may apply if the account becomes inactive |
| There are several advanced trading tools offered to experienced traders | |
| There are no restrictions on the trading strategies that traders can use | |
| CM Trading welcomes Kenyan traders | |
| CM Trading offers local deposit and withdrawal methods | |
| There is a competitive minimum deposit requirement for the account tiers | |
| CM Trading has a long-standing reputation as one of the best forex and CFD brokers for Kenya |
Trust Score and Kenyan Market Share
🥇 The trust score for CM Trading is 91%.
6. OctaFX
Overall Rating
- 4.6/5
Min Deposit
USD 5 / 578 KES
Regulators
FCA UK
Trading Platform
MT5, MT4, OctaTrader
Crypto
Yes
Total Pairs
28
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 OctaFX is a dependable broker and offers low required minimum deposits, commission-free trading, and the availability of an unlimited practise account. Even though the Capital Markets Authority (CMA) in Kenya does not regulate OctaFX, the broker is regarded as a good choice for Kenyan traders of all skill levels.
👉 OctaFX’s mission is to keep trading costs as low as possible while simultaneously achieving a slip-free execution rate of all orders through the utilization of STP (Straight Through Processing) and ECN models. OctaFX was founded in 2011 and has been recognized with more than 28 different awards.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Financial Services Authority in Saint Vincent and the Grenadines (SVG FSA), and Cyprus Securities and Exchange Commission (CySEC) |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| 💻 Trading Accounts | MetaTrader 4 Habitual Trader Account, MetaTrader 5 Smart Trader Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5 |
| 💰 Minimum Deposit | $100 (11 668 KES) |
| ✅ Trading Assets | Forex Currency Pairs, Index CFDs, Commodities, Cryptocurrencies |
| 💸 Bonuses for Kenyan traders? | Yes |
| 📉 Minimum spread | From 0.6 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| OctaFX accommodates all types of traders in a transparent and safe trading environment | Offshore broker with tier-2 regulation |
| OctaFX offers reliable, instant deposits and withdrawals | A limited selection of trading instruments offered |
| Commission-free trading is offered on all retail investor accounts along with tight spreads | There is a limited selection of retail accounts |
| The broker offers copy trading accounts through a proprietary trading app | Limited options for base currencies on accounts |
| Offers an Islamic Account for Muslim traders | |
| Offers social trading opportunities | |
| A range of advanced trading tools available | |
| OctaFX offers versatile and reliable payment methods for deposits and withdrawals |
Trust Score and Kenyan Market Share
🥇 OctaFX has a trust score of 61%.
7. BD Swiss
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
👉 BDSwiss is a low-risk company with an overall Trust Score of 83 out of 100. It is regulated by one Tier-1 regulator (with high trust), one Tier-2 regulator (with average trust), and two Tier-3 regulators.
👉 Four types of retail trading accounts are offered by BDSwiss, including a Classic Account, Premium Account, VIP Account, and a RAW Trading Account.
👉 Since its inception in 2012, BDSwiss has established itself as a reputable broker with a large international clientele. There is a wide range of goods available for trading, including forex, commodities, stocks, indices, and many cryptocurrencies.
Unique Features
| Feature | Information |
| ⚖️ Regulation | CySEC, FSC, BaFIN, FSA |
| 📱 Social Media Platforms | • Facebook • YouTube • Blog • Telegram |
| 💻 Trading Accounts | • Classic Account • Premium Account • VIP Account • RAW Account |
| 📊 Trading Platform | • MetaTrader 4 • MetaTrader 5 • BDSwiss Mobile • BDSwiss Web • cTrader |
| 💰 Minimum Deposit | $100 (11 668 KES) |
| ✅ Trading Assets | • Forex • Commodities • Shares • Indices • Cryptocurrencies |
| 📉 Minimum spread | From 0.3 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| BDSwiss is one of the trusted forex brokers with a high trust score that provides client protection | There are high minimum deposits on more premium accounts |
| There are commission-free options offered | Fixed spreads are not offered |
| There are competitive conditions with tight spreads and low commissions | There are some regional restrictions applied to some countries |
| BDSwiss has a large client base spread across the globe | The raw spreads are not the tightest |
| There are more than 250 CFDs to trade and several financial assets and classes | BDSwiss does not offer a deposit bonus or any other initiative |
| BDSwiss offers a high maximum leverage ratio up to 1:1000 | Does not offer a specific Kenyan client or terminal |
| Accepts electronic payments from Skrill, Neteller, and other trusted methods | Currency conversion fees are charged |
| Offers a powerful proprietary trading platform along with MetaTrader 4 and 5 | There is an inactivity fee charged on dormant accounts |
| There is a massive selection of educational material and trading tools, covering all aspects of trading | Withdrawal fee applied on the bank wire withdrawal option for certain amounts |
| Provides advanced charting tools and analytical material | There are no Kenyan Naira deposits allowed and there is no NGN account offered |
| Deposit fees are not charged on deposit methods | There is no desktop version of the proprietary trading platform |
| Offers a demo account and Islamic Account | |
| BDSwiss offers a decent range of payment methods | |
| There is a choice between dynamic retail investor accounts |
Trust Score and Kenyan Market Share
🥇 Trust Score of BDSwiss is 83 out of 100.
How to choose a forex broker with a minimum $100 deposit in Kenya
👉 Kenyan traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives and/or needs.
Regulations and Licenses
👉 This is the first important component that traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others. Kenyans must beware when dealing with brokers that only have offshore regulations such as FSA, SVG BVI, FSC, and others.
Account Features
👉 Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.
Deposits and Withdrawals
👉 Kenyans must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits among other trading and non-trading fees.
Range of Markets
👉 The range of markets offered refers to the number and range of tradable instruments that the broker offers. Kenyans must consider what they wish to trade and what is available.
Customer Support
👉 Customer Support is another crucial factor and Kenyans must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.
Trading Platform
👉 A trading platform is the Kenyan trader’s portal to the financial markets. Traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.
Education and Research
👉 Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:
➡️ eBooks
➡️ Trading guides
➡️ Trading knowledge on leveraged products
➡️ A risk warning on complex instruments
➡️ Educational videos
👉 Research can include some of the following:
➡️ Trading tools
➡️ Commentary
➡️ Status of International Markets
➡️ Price movements
➡️ Market sentiments
➡️ Whether there is a volatile market
➡️ Exchange Rates
➡️ Expert opinions and several other resources can help experienced traders make informed trading decisions.
The Best Forex Brokers with a minimum $100 deposit in Kenya
👉 In this article we have listed the best Forex brokers which offer $100 minimum deposit accounts to traders in Kenya. We have further identified the forex brokers that offer additional services and solutions to Kenyan traders.
Best MetaTrader 4 / MT4 Forex brokers which offer $100 minimum deposit in Kenya
👉 Overall, Exness is the best MetaTrader 4 / MT4 trading broker for a minimum deposit of $100 in Kenya. Exness provides services to traders including low commissions, instantaneous order execution, and the opportunity to withdraw money immediately via various instant withdrawal alternatives.
Best MetaTrader 5 / MT5 Forex brokers that offers $100 minimum deposit in Kenya
👉 Overall, HF Markets is the best MetaTrader 5 / MT5 broker for a minimum deposit of $100 in Kenya. Apart from the MT5 trading platform HF Markets (previously HotForex) offers a variety of pricing alternatives and account types, as well as competitive fees and spreads.
Best Forex Broker that offers $100 minimum deposit for beginners in Kenya
👉 Overall, Tickmill is the best broker for a minimum deposit for beginners in Kenya. Tickmill is a reputed and well-regulated forex and CFD broker and is regulated by top-tier regulators in several jurisdictions. Tickmill offers instant internet banking deposit methods and quick bank transfer withdrawals.
Best Minimum Deposit Forex brokers that offers $100 minimum deposit in Kenya
👉 Overall, FBS is the best broker for a minimum deposit of $100 or less in Kenya. FBS was established in 2009 and it is now a reputable international forex and CFD broker. FBS offers competitive trading conditions, a range of accounts, advanced trading tools, and several other advantages.
Best ECN Forex Broker that offers $100 minimum deposit in Kenya
👉 Overall, Oanda is the best ECN platform for a minimum deposit of $100 in Kenya. Oanda gives customers access to a range of financial products. Transaction execution is quick and reliable, research resources are superior to industry standards, and user interfaces are easy to understand. It has a track record of regulatory oversight.
Best Islamic / Swap-Free forex broker that offers $100 minimum deposit in Kenya
👉 Overall, Axiory is the best Islamic /swap free forex broker for $100 minimum deposit in Kenya. Trades with Axiory are executed in less than 200 milliseconds, and Kenyan traders are provided with the best trading software that is linked to Equinix datacenters. Trading tools, training materials, and over 150 instruments are available to assist traders.
Best Forex Trading App forex broker that offers $100 minimum deposit in Kenya
👉 Overall, OctaFX has the best forex trading app of brokers with $100 deposit in Kenya. OctaFX is serves traders from all over the world, including those in African countries like Kenya. Kenyan traders can trade forex currency pairs, Index CFDs, commodities, and cryptocurrencies with OctaFX’s award-winning services and app.
Best Lowest Spread forex broker that offers $100 minimum deposit in Kenya
👉 Overall, BD Swiss is the best lowest spread forex broker with a $100 deposit in Kenya. BD Swiss is a reputable and well-regulated broker with a large international trading community. BD Swiss offers a wide range of products for trading. BD Swiss offers trading in cryptocurrencies too.
Best Nasdaq 100 forex broker that offers $100 minimum deposit in Kenya
👉 Overall, Alpari is the best Nasdaq 100 forex broker that offers $100 minimum deposit in Kenya. Alpari is a low-risk and trustworthy broker and reliable market maker broker. Alpari guarantees fast trading speeds from a few milliseconds. Alpari has over 2 million registered clients.
Best Volatility 75 / VIX 75 forex broker that offers $100 minimum deposit in Kenya
👉 Overall, AvaTrade is the best Volatility 75 / VIX 75 Forex broker for $100 deposit in Kenya. AvaTrade is trustworthy and well regulated. A single live trading account is provided by AvaTrade, but traders have the choice to trade with either a Retail trading account or a Professional trading account.
Best NDD forex broker that offers $100 minimum deposit in Kenya
👉 Overall, XM is the best NDD forex broker for a $100 minimum deposit in Kenya. XM is regulated by strict financial regulators in all relevant jurisdictions. XM offers all of the features that users need: security, support, ease of account funding, and withdrawal. XM charges low fees.
Best STP forex broker that offers a $100 minimum deposit in Kenya
👉 Overall, Pepperstone is the best STP Forex broker for a $100 deposits in Kenya. Pepperstone also offers modern technology, low spreads, and high-speed execution. Pepperstone gives traders across the world access to all markets backed up by very good customer care.
Best sign up bonus forex broker that offers a $100 minimum deposit in Kenya
👉 Overall, FP Markets is the best Sign Up bonus broker for a $100 minimum deposit in Kenya. FP Markets offers stocks, indices, foreign exchange (forex), commodities, and cryptocurrencies to trade. FP Markets has a user-friendly mobile app and a variety of account types to choose from.
Understanding how forex brokers that offer a $100 minimum deposit in Kenya work
👉 Since it takes time and experience to become a professional trader, nobody would like to start off with very big deposits. Beginners usually start with small accounts while somebody with a bit more experience may consider a deposit of $100.
👉 Even traders with a more experience use small accounts to try out new skills or strategies since it allows for them to recover quickly if they lose money.
👉 A trader should however realise that the less money he or she invests, the less money can be made. If you have traded before and know the ropes, you can start trading with a Standard account and a deposit of $100. This should give you access to more services and perks from brokerages.
👉 Due to more competition in the market, many forex brokers have lowered their minimum deposit requirements. This is because there is a lot of liquidity, which lowers the transaction costs and fees that traders pay when trading forex.
👉 Kenyan traders that have $100 to invest, will be able to trade with some of the best forex brokers.
Advantages of forex brokers that offers $100 minimum deposit in Kenya
👉 Forex brokers that offer $100 minimum deposit in Kenya have several advantages. These advantages include:
➡️ The opportunity to test the waters with a broker’s live account without making a significant financial commitment.
➡️ The ability for traders to use such accounts to live-test trading strategies that require real execution conditions.
➡️ Traders still have a fair degree of control over the size of their positions when using smaller lot sizes.
Disadvantages of forex brokers that offer a $100 minimum deposit in Kenya
👉 Forex brokers that offer a $100 minimum deposit in Kenya also have some drawbacks of traders should take note of in order to mitigate their risk of losses:
➡️ Their risk of losing money is a little bigger than when they would have started out with a smaller deposit.
Conclusion
👉 Overall, losing money is inevitable in forex trading. It is prudent to risk only a small portion of your disposable money on a deposit and a tiny portion of your account on each trade. The markets endure winning and losing streaks which traders must consider. They should therefore examine the proportion of available money they are willing to risk.
FAQ
What is the first step to take to start forex trading?
Find a good broker with a fair choice of accounts and an affordable minimum deposit to open an account
Why is forex trading risky?
Forex trading is considered by many to be similar to gambling. When you take a position in a particular currency pair, you are in fact betting on the price to either go up or down by taking a long or short position.
What are the most important do’s and don’ts in forex trading?
- Don’t use the money you cannot afford to lose
- Set a trading plan
- Do enough research
- Set realistic goals
- Don’t use a complicated strategy
- Keep your emotions intact
- Don’t consider revenge trading
- Be patient
What important questions should a new trader ask before starting?
- What qualities make a good Trader?
- How much risk am I willing to take?
- How will I stay abreast with the ever-changing financial markets?
What do you need to know before starting to trade forex?
Once you have funded your account, the most important thing to remember is that your money is at risk. Such money should not be needed for regular living expenses. One should think of your trading money as dispensable.
Addendum/Disclosure:
👉 No matter how diligently we strive to maintain accuracy, all financial markets feature a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
