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8 Best Day Trading Apps in Kenya

The 8 Best Day Trading Apps in Kenya revealed. We tested and verified the best day trading apps for Kenyan Traders.

This is a complete list of the best day trading apps in Kenya.

In this in-depth guide you’ll learn:

  • What is a Day Trading App
  • Which day trading platform is the best for Kenyan Traders?
  • Which day trading app trades with stocks
  • Which day trading app is best for beginner traders? 
  • Which day trading app can you trade in cryptocurrency? 
  • Which Day Trading Apps offer IOS and Android compatibility?
  • Which day trading app offers a low minimum deposit of $5 (595 KES)?
  • Which brokers offer a signup bonus for first-time traders?


And lots more…

So if you’re ready to go “all in” with the best day trading apps for Kenyans…

Let’s dive right in…

Updated : August 31, 2022

Best Day Trading Apps in Kenya

🥇 Broker✔️ Day Trading App?📱 IOS Compatible?📱 Android Compatible?👉 Open Account
1. Trade StationYesYesYes👉 Open Account
2. eToroYesYesYes👉 Open Account
3. FOREX.comYesYesYes👉 Open Account
4. Interactive BrokersYesYesYes👉 Open Account
5. FxPro AppYesYesYes👉 Open Account
6. FXCMYesYesYes👉 Open Account
7. AvaTrade MT4/MT5YesYesYes👉 Open Account
8. Capital.comYesYesYes👉 Open Account

8 Best Day Trading Apps in Kenya (Updated 2022)

  1. Trade Station – Overall, Best Day Trading App Broker
  2. eToro – Top Social Trading Broker in Kenya
  3. FOREX.com – User-Friendly Day Trading Broker
  4. Interactive Brokers – Best Low Minimum Deposit Broker
  5. FxPro App – Top ECN Day Trading Broker
  6. FXCM – Verified Sign-Up Bonus Broker in Kenya
  7. AvaTrade MT4/MT5 – Best Volatility 75/VIX75 Broker 

1. Trade Station

Trade Station

Overview

👉 With a wide range of account choices, excellent trading tools, and the capacity to trade many securities, TradeStation offers the complete package for day traders.

 

👉 A conventional brokerage account or a retirement vehicle such as an IRA, Roth IRA, or SEP IRA are the two options available to new individual customers.

 

👉 After creating an account, you may instantly start trading by connecting it to the mobile app. Trading is possible in stocks, ETFs, options, futures, and cryptocurrencies on TradeStation.

 

👉 You could use hundreds of different indicators to build your own chart studies or search companies for specific trading criteria. As a direct access broker, TradeStation allows you to choose the exchanges via which your order will be routed.

 

👉 Select between a TS Select account ($2,000 minimum) for no commission trading or a TS Go account ($0 minimum) for trading only on mobile devices. Bonds, mutual funds, and transactions involving more than 10,000 shares will all continue to be subject to fees.

 

👉 TradeStation is the only mobile trading platform that combines tools, speed, and affordability like this.

 

Trade Station Pros and Cons

✔️ Pros❌ Cons
TradeStation offers Kenyans cash reward bonuses of $50 to $5,000 when they deposit funds using the promo codeEducational content is divided into two areas, which can be confusing for beginners
There are commission-free options on ETFs and stocksInactivity fees of $50 are charged
TradeStation offers both crypto and futures tradingThere is an IRA annual service fee of $35
TradeStation 10 is a quality program with a range of featuresThere are high margin rates

2. eToro

Overall Rating

Min Deposit

USD 50 / 5780 KES

Regulators

CySec, FCA 

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

👉 Kenyan traders can choose from a variety of day trading applications, but eToro provides the greatest day trading experience overall. Over 20 million active traders use the eToro app, which has regulatory oversight from several reputable entities.

 

👉 After opening an account with eToro, traders have access to more than 50 currency pairs, and 2,400 shares scattered over 17 international exchanges, metals, energy, indexes, cryptocurrencies, and more. 

 

👉 Trading on eToro is commission-free, and there are no costs associated with signing up with the broker. Both expert investors and novice traders may benefit from the eToro day trading app.

 

👉 The broker is regarded as the greatest social online trading platform, with a sizable online community and innovative social trading technology. The eToro app furthermore provides an extensive copy trading function.

 

Pros and Cons

✔️ Pros❌ Cons
eToro has a strict and solid regulatory frameworkThere are limitations on leverage for retail traders
Client fund safety is guaranteed and there is consumer protection offeredThere is a limited selection of retail investor accounts
eToro offers commission-free tradingFixed spreads are not offered
There are over 2,000 complex instruments that can be tradedThe spreads are not the tightest
The broker offers several trading opportunities and a social trading featureThere is a high minimum deposit on the Islamic Account
There is an award-winning proprietary platform offeredThere is an inactivity fee charged on dormant accounts
eToro offers 24/6 dedicated customer services
eToro offers a demo account and an Islamic Account
Algorithmic trading and margin trading supported
Real time quotes are offered alongside a wide range of benefits
The mobile app is secure and features robust security such as two-factor authentication
The app can be used as a wallet app for digital currencies
Offers several resources that help traders make improved financial decisions with confidence
Offers several helpful tools and services as a solid basis for investment decision along with investment advice
Provides access to several popular cryptocurrencies that can be traded and crypto staking services
There is a comprehensive portfolio management service and popular investor program offered

3. FOREX.com

Overall Rating

Min Deposit

USD 100 / 11615 KES

Regulators

Trading Desk

Crypto

Yes

Total Pairs

50

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 For traders who wish to employ their day trading methods while on the go, the FOREX.com day trading app is ideal. More than 80 currency pairs are available to traders with FOREX.com’s full access to the forex market.

 

👉 Both the Android and iOS platforms provide free downloads of the FOREX.com app. Additionally, FOREX.com is renowned for aiding developers of third-party apps like MetaTrader 4.

 

👉 Additionally, until users are ready to begin trading with real money, FOREX.com provides a 30-day paper trading account and day trading simulator, which is the perfect option for both new and seasoned traders.

 

👉 Additionally, FOREX.com provides thorough in-depth market research, a news feed with business and financial news, and several other elements good for fundamental analysis.

 

👉 A variety of timeframes are available for viewing the charts provided by FOREX.com, and traders have access to real-time data on which they may base their trading choices.

 

Pros and Cons

✔️ Pros❌ Cons
FOREX.com is regulated in several regions globally, including the United StatesInactivity fees apply to dormant accounts
There are user-friendly platforms offeredThere is a currency conversion fee charged
FOREX.com has an execution scorecardThere is no KES-denominated account and deposit currencies are limited to USD, GBP, and EUR
There are commission-free trading accounts offeredNigerian traders cannot deposit in Naira
Direct Market Access (DMA) Account offeredThere is a limited range of funding options and no local options for Kenyans
There is a range of trading tools and educational materials
There is a dedicated market strategist provided
An active trader program is offered

4. Interactive Brokers

Overall Rating

Min Deposit

USD 0 / 0 KES

Regulators

US SEC, CFTC. Regulated in Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK 

Trading Desk

Crypto

Yes

Total Pairs

22

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 Interactive Brokers is among the oldest retail investing companies in the world. With this top-rated application, you will have access to tens of thousands of marketplaces for a broad range of assets that can be traded using day trading methods.

 

👉 Not just in the United States, but in 33 nations worldwide. Typically, the asset library of the Interactive Brokers trading program can be divided into two groups.

 

👉 Firstly, if Kenyans choose to adopt a short-term day trading strategy, futures, options, forex, and stock CFDs are ideal financial products.

 

👉 However, if Kenyans are interested in using a longer-term strategy, they could choose among stocks, index funds, ETFs, and managed portfolios.

 

👉 Regardless of their choice, the trading costs will be determined by the market that traders intend to access. Consequently, if you trade US-listed equities, Interactive Brokers does not charge commissions.

 

👉 Most Kenyan day traders would like Interactive Brokers since its native smartphone platform – IBKR – caters to both novice and experienced traders.

 

👉 For example, if Kenyans are just starting day trading, IBKR Lite will serve them better since it is more user-friendly. If, however, Kenyans want access to sophisticated trading tools and technical indicators, IBKR Pro is the better option.

 

👉 Interactive Brokers’ Know-Your-Customer (KYC) procedure is a touch sluggish when it comes to getting started, but this is excusable as the trading software has no minimum deposit requirement.

 

Pros and Cons

✔️ Pros❌ Cons
When it comes to market coverage and asset selection, Interactive Brokers is without peerNew traders may feel overwhelmed with TWS, Interactive Brokers’ preferred platform for international trade
For extensive customization and power, Trader Workstation (TWS) is an excellent choiceThe tiered price structure of Interactive Brokers might be difficult to understand
Advantages of having instantaneous access to markets all around the globe Always and forever

5. FxPro App

FxPro App

Overview

👉 FxPro is positioned towards the apex of the forex broker pyramid among global online forex brokers. This Cyprus-based brokerage has helped traders execute over 370 million orders and collected over €100,000,000 in tier 1 capital over more than 15 years.

 

👉 The brokerage is owned by FxPro Group Limited of Cyprus, which is one of the major brokers in Cyprus.

 

👉 This is significant since Cyprus is home to over 150 online forex brokerages that are continuously attempting to catch up to the award-winning FxPro. Few brokerage businesses can match with FxPro’s extensive clientele and 70+ accolades.

 

👉 FxPro provides commission-free transactions, minimal costs, and a 10/10 customer service rating, in addition to four excellent platforms: MT4, MT5, cTrader, and the brand-new FxPro Edge.

 

👉 The FxPro Edge app lets you trade, manage your account, and get basic market news. The software also offers to trade for CFD account holders, although account management is its primary focus.

 

👉 It contains charts without drawing tools and almost no indicators (other than volume data). The FxPro Edge mobile platform is only accessible via a mobile web browser and cannot be downloaded as a separate app.

 

👉 While FxPro Edge offered a streamlined user experience, the ability to download the platform for Android and iOS would be a terrific addition.

 

👉 Despite this, security protections are commonplace, and Touch ID could be used to replace the login. The watchlists on this app are easily modifiable, and several lists are also feasible.

 

👉 Traders need just choose the instrument, decide which price to notify (bid or ask), and then select whether to alert when the price is greater or lower than a certain threshold. Kenyan traders can also construct a personalized pop-up message for delivery.

 

👉 FxPro, unlike other brokers, provides live mobile news with important market-moving stories. This enables traders to monitor market developments in real-time while on the go.

 

👉 Creating conditional orders is simple and uncomplicated, and there are several varieties available. Traders have the option of placing market, limit, stop, and stop limit orders. Traders can also define the order’s expiration date, adding a level of control.

 

👉 Finally, FxPro has a competent mobile charting solution. Traders can also watch several time frames and apply different trading indicators, such as moving averages, with ease.

 

👉 After configuring a chart, the mobile app enables traders to trade quickly from the screen, with simple trade sizing and buy and sell direction orders.

 

Pros and Cons

✔️ Pros❌ Cons
FxPro has a green project initiative.The app is currently not a downloadable platform.
There are no commissions on trades and the spreads charged are extremely competitive.
There is a great asset range, providing Kenyans with several options.
The withdrawals take up to 24 hours on selected options.
There is an extremely low minimum deposit of 1,100 KES.

6. FXCM

Overall Rating

Min Deposit

USD 300 / 3499 KES

Regulators

FCA

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 FXCM is worth considering if you are interested in deploying a completely automated trading system that can be monitored on a mobile device.

 

👉 This online CFD broker has been in business for almost two decades and has a stellar reputation in the trading community, and it is also extensively regulated,

 

👉 FXCM provides comprehensive support for automated trading techniques, and you can even buy a third-party system directly from the provider’s website.

 

👉 This includes algorithmic trading algorithms, expert advisors for forex, and sophisticated technical indicators. You can easily connect your strategy to several third-party systems, like MT4.

 

👉 Regarding supported markets, FXCM provides a wide range of CFD asset types. This includes equities, currencies, precious metals, energies, and other indexes.

 

👉 This leading day trading application does not charge commissions. During busy market hours, spreads are very tight, making FXCM perfect for low-margin scalping tactics.

 

👉 Additionally, leverage and short selling are accessible on all markets. You can easily begin using the FXCM day trading app by making an 11,500 KES / $100 minimum deposit (non-EU clients). Optionally, you can easily utilize the demo account feature before making a deposit.

 

Pros and Cons

✔️ Pros ❌ Cons
FXCM is a multi-regulated and award-winning brokerThe spreads are not the tightest
The broker is a member of the FSCS, offering all clients investor protectionThere are additional fees charged on the Islamic Account
There is a choice between an impressive range of trading platformsThere are currency conversion fees and an inactivity fee
There are social opportunities offered through ZuluTradeWithdrawal fees apply on bank wire transfer
There are advanced charting capabilities offered through TradingViewThere is no KES-denominated account and KES is not a deposit currency
The daily analysis is provided by Trading Central
FXCM offers an innovative proprietary trading platform
There is a choice between trading accounts, each suited to different types of traders

7. AvaTrade MT4/MT5

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 is a CFD trading platform that provides markets on a wide variety of financial instruments, including equities, commodities, FX, digital currencies, bonds, futures, options, and more.

 

👉 The process of opening an account takes just a few minutes, after which you will have a selection of trading applications from which to choose. AvaTradeGO is AvaTrade’s proprietary mobile app that was developed for both skilled and beginner Kenyan traders alike.

 

👉 This software is especially well-liked among novice traders. If, however, you are a seasoned trader in need of a more sophisticated trading platform, you might want to try linking your AvaTrade account to either MT4 or MT5 instead.

 

👉 All that is required of you is to download the third-party application of your choice and then sign in using your AvaTrade credentials. You will then have access to in-depth technical analysis tools after you have completed this step.

 

👉 If you are thinking about putting in place an automated trading system or FX robot, using the MT4/5 software as your platform of choice is a smart move.

 

👉 AvaTrade gives you the ability to join and leave positions on a commission-free basis, which is one of the most basic aspects of the platform. Spreads are quite competitive, particularly when dealing with big currency pairings in the forex market.

 

👉 To get started, you will need to make a minimum deposit of one hundred dollars, and the methods of payments that are supported include bank transfers, debit, and credit cards. You can also make deposits using an e-wallet, although this will depend on where you are located.

 

👉 In conclusion, safety should not be a worry while using AvaTrade since the platform is regulated in six distinct countries.

 

Pros and Cons

✔️ Pros❌ Cons
AvaTrade is well-regulated in several jurisdictionsThere are no variable spreads
There are more than 1,250 trading instruments available across financial marketsThere is only one retail and one professional account
There are several useful trading tools offered to advanced tradersThere are inactivity fees charged on dormant accounts
There is a choice between innovative and powerful trading platformsThere are currency conversion fees that may apply
AvaTrade offers competitive trading conditions to Kenyan tradersThere 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

8. Capital.com

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

Overview

👉 Capital.com is an option to take into consideration if you want to engage in day trading on your mobile device but have little to no prior knowledge of the broader investing markets.

 

👉 This CFD trading platform is ideal for beginners for several reasons. When you first install the app on your mobile device, you will automatically be granted access to a risk-free practice account that you can use to practice your trading.

 

👉 Because this simulates real-life market circumstances, you will not put any of your own money in danger while engaging in day trading.

 

👉 This will also provide you with the opportunity to get familiar with the operation of the Capital.com mobile app, which will enable you to undertake research, place orders, and do many other things.

 

👉 You will only be required to make a minimum deposit of twenty dollars (or 2,300 KES) when you want to begin trading with real money.

 

👉 You will not run into any problems when using the Capital.com mobile app, which is another reason this service is great for those who are just starting.

 

👉 CFD instruments are available in the form of forex, hard metals, energy, indices, exchange-traded funds (ETFs), cryptocurrencies, and even DeFi coins when it comes to tradable markets.

 

👉 You can also trade over 2,400 equities from a few marketplaces, such as the New York Stock Exchange (NYSE), the London Stock Exchange (LSE), and others.

 

👉 This well-regarded program does not charge any trading fees, so the only thing that must be paid for is the spread.

 

👉 The app is regulated by the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), and it enables debit and credit cards, electronic wallets, and bank transfers.

 

Pros and Cons

✔️ Pros❌ Cons
Capital.com is a well-regulated broker that reports excellent user experienceUnited States clients are not accepted
Capital.com offers a proprietary platform, mobile trading apps, and MetaTrader 4There are restrictions on leverage ratios
There is a transparent fee structure with tight spreads, commission-free trading, and a reasonable overnight fee chargeThe spreads are marked-up
Offers thematic investments and Capital.com TV
The broker accepts all trading strategies including algorithmic trading, mobile trading, scalping, and others
Offers a decent selection of deposit methods and withdrawal options including bank wire transfer, bank transfer, and electronic payment processors
Currency conversion fees are not charged and there is a selection of base currencies
There is a decent selection of educational content offered
The proprietary platform offers charting tools and several other features
Regulatory protection is guaranteed through several regulatory bodies
There is a selection of instruments from a wide range of asset classes
Capital.com offers helpful customer service 24/7 and there is a lot of customer feedback reflecting a positive experience with the broker

How to choose the Right Day Trading App in Kenya

How to choose the Right Day Trading App in Kenya

👉 Kenyan traders must evaluate the following components of a day trading app to decide whether the broker is suited to their unique trading objectives and/or needs.

 

Regulations

👉 Day trading applications that let users purchase and sell assets using real money are required to be regulated by a trustworthy organization. For instance, AvaTrade is subject to the rules and regulations of six distinct nations, including those of Japan and Canada.

 

👉 You also have the option of using eToro, which is licensed and supervised by the FCA, ASIC, and CySEC, respectively. You will be able to trade in an environment that is safe and secure if you use a day trading app that is licensed by a renowned financial body.

 

👉 This will guarantee that you are allowed to trade. Not just regarding openness and equity, but also the safeguarding of capital for investors.

 

Range of Assets to Day Trade

👉 The financial options available to Kenyans number in the tens of thousands. They must, on the other hand, check to see whether the broker supports the marketplace that they have selected.

 

👉 For instance, the app could provide access to foreign exchange markets, but the question is whether it supports the currency pairings that you want to trade.

 

👉 In a similar vein, every single one of the finest day trading software providers that we have covered here offers stocks. However, you need to take a deeper look to be certain that the transaction you desire is provided.

 

Trading Tools and Features

👉 After you have determined that the service provider is regulated and that it provides access to the financial instrument that you are interested in, the next step is to investigate the trading tools that are at your disposal.

 

👉 Support for robots provided by third parties is another important trading instrument that we discovered. Both AvaTrade and FXCM are ideal choices in this regard since their mobile trading applications are compatible with MT4 and forex expert advisors.

 

👉 This indicates that after the robot has been configured, you will be able to track its performance using the appropriate trading software. Additionally, most traders like the social trading function that eToro offers.

 

👉 You can have open conversations with those who are also using this application, just as you would on any other social networking site. You could, for instance, publish your ideas on a business deal, respond to other people’s posts, and even “Like” other people’s remarks.

 

Customer Support

👉 The top day trading app providers included on this page have all earned a reputation for providing excellent customer service. This is often complemented with a helpful customer assistance avenue that is easily accessible inside the app.

 

Education, Analysis, Research

👉 If you are just starting as a day trader, it is in your best interest to utilize a trading program that also includes instructional resources.

 

👉 You could get access to free webinars via a variety of different brokers, and most of the time, these webinars are presented by one of the broker’s knowledgeable in-house traders.

 

👉 When it comes to doing research, the day trading software providers who stand out as the finest will supply financial news on significant market changes.

 

👉 You will require unrestricted access to financial indicators such as the relative strength index (RSI) and the moving average convergence divergence (MACD) if you are an experienced technical day trader.

 

👉 These charting tools and indications must be streamlined so that they may be accessed quickly and simply using a mobile device.

 

Overall User Experience

👉 The user experience provided by the greatest day trading software providers is fluid and devoid of errors. It is also important that trading programs be tailored to your particular operating system, regardless of whether you use iOS or Android.

 

👉 When it comes to accessing real-time market data and price feeds, you should expect that loading times are quick.

 

👉 Of course, new orders should be executed at lightning-fast rates. You could miss a trading opportunity or be unable to exit a position when you want to if there are any delays or issues. It should also be straightforward to browse and search for marketplaces.

 

Deposit and Withdrawal Methods

👉 Only conventional bank wire deposits are accepted for some of the trading applications today, and if you are not in a hurry to trade, this could be a good option, but most day traders need access to fast deposit and withdrawal processing.

 

👉 Thus, Kenyans should choose a day trading application that allows for real-time financing.

The Best Day Trading Brokers in Kenya

👉 In this article, we have listed the best brokers that allow day trading strategies from traders in Kenya. We have further identified the brokers that offer additional services and solutions to Kenyan traders.

 

Best MetaTrader 4 / MT4 Day Trading Broker in Kenya

Overall Rating

Min Deposit

USD 0 / 0 KES

Regulators

Trading Desk

Crypto

Yes

Total Pairs

33

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, Trade Nation is the best MetaTrader 4 Day Trading Broker in Kenya. Trade Nation provides Kenyan traders with a choice of two retail trading accounts and a maximum trade size of 50 lots on MT4.

 

👉 Although Trade Nation does not enable quick deposits or withdrawals, dependable solutions like bank transfers, Skrill, and credit/debit cards are accessible.

 

Best MetaTrader 5 / MT5 Day Trading Broker in Kenya

Overall Rating

Min Deposit

570 KES or an equivalent to $5

Regulators

FSC

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

48

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, Alpari is the best MetaTrader 5 Day Trading Broker in Kenya. Alpari provides more than 250 tradable instruments through MT4 and MT5 and has over 2 million traders from across the globe. Kenyans can effortlessly design their own Expert Advisors for day trading using MT5 and MQL5.

 

Best Day Trading Broker for Beginner Traders 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 Broker for Beginner Traders in Kenya. IG is one of the most well-known brokers in the world due to its exceptional record of accomplishment of success. IG welcomes and accommodates novices by providing a variety of webinars and an IG Academy.

 

Best Low Minimum Deposit Day Trading Broker in Kenya

Overall Rating

Min Deposit

USD 0 / 0 KES

Regulators

US SEC, CFTC. Regulated in Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK 

Trading Desk

Crypto

Yes

Total Pairs

22

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, Interactive Brokers is the best Low Minimum Deposit Day Trading Broker in Kenya. Interactive Brokers does not have a minimum deposit requirement. Interactive Brokers offers lower margin rates than its competitors.

 

👉 With zero-commission trading on its IBKR Lite platform and a standard price of a half-cent per share ($1 minimum per transaction), its pricing structure is designed to reduce trading expenses.

 

Best ECN Day Trading 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 Day Trading Broker in Kenya. IC Markets is well-known in the FX and CFD industries as an ECN broker. On the cTrader and Raw Spread accounts, Kenyans should anticipate 0 pip spreads.

 

👉 Standard Account spreads are under 0.6 pips, there are no fees, and trade execution is lightning quick.

 

Best Islamic / Swap-Free Day Trading Broker in Kenya

Overall Rating

Min Deposit

USD 100 / 11560 KES

Regulators

FSA, CySec

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, JustForex is the best Islamic / Swap-Free Day Trading Broker in Kenya. JustForex allows Muslim traders in Kenya to convert any of its seven retail accounts into Islamic Accounts. With an Islamic Account, Kenyans do not have to worry about exchange fees or other administrative expenses.

 

👉 Spreads on the Swap-Free Account vary from 0 to 0.9 pips, depending on the account type selected by Kenyans. The charges charged on Raw Spread Accounts are competitive, beginning at $6 per turn.

 

Best Kenyan Shilling Trading Account Day Trading 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 Day Trading Broker in Kenya. Exness has a bilingual website that caters to all sorts of traders, and Kenyans can easily open an Exness account denominated in KES.

 

👉 While Kenyans are free to register most trading accounts using KES as the base currency, only USC, EUC, GBC, CHC, AUC, or CAC can be used to open a Standard Cent Account.

 

Best Lowest Spread Day Trading 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 lowest spread Day Trading Broker in Kenya. XM is one of the best and most affordable day trading brokers for Kenyans. Traders can easily register a micro account to start trading over 1,000 instruments with charges of 1 pip on EUR/USD.

 

Best Nasdaq 100 Day Trading 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 Nasdaq 100 Day Trading Broker in Kenya. HF Markets is a CMA-regulated broker that provides a secure and transparent trading environment. Kenyans have access to over a thousand traded instruments, including the NASDAQ 100.

 

👉 When trading stock indices, traders could anticipate spreads as low as 1 pip, fees as low as $3, and leverage as high as 1:200.

 

Best Volatility 75 / VIX 75 Day Trading 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 Volatility 75 / VIX 75 Day Trading Broker in Kenya. AvaTrade is one of the most reputable brokers in Kenya, catering to both novices and experts regardless of their trading technique.

 

👉 AvaTrade allows Kenyans to trade VIX 75 as a CFD on indices on any of its trading platforms. In addition, Kenyans should anticipate margin calls of 25% and stop-out levels of 10%.

 

Best NDD Day Trading Broker in Kenya

Overall Rating

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

👉 Overall, Markets.com is the best NDD Day Trading Broker in Kenya. Markets.com provides Kenyans with Instant and Market Execution on transactions, with EUR/USD spreads beginning at 0.8 pips.

 

👉 While Markets.com does not disclose its liquidity sources, Kenyans can anticipate swift order execution with little slippage and requotes.

 

Best STP Day Trading Broker in Kenya

Overall Rating

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

👉 Overall, Tickmill is the best STP Day Trading Broker in Kenya. Tickmill is a well-known STP broker that offers VIP and Pro accounts with attractive spreads beginning at 0 pips. Tickmill is a MetaTrader-only broker with quick executions that are excellent for Kenyan day traders.

 

Best Sign-up Bonus Day Trading Broker in Kenya

Overall Rating

Min Deposit

USD 1 / 116 KES

Regulators

CySEC, FSC

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

4

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, InstaForex is the best sign-up bonus Day Trading Broker in Kenya. In addition to offering a no-deposit bonus of $1,000, InstaForex also provides multiple deposit bonuses ranging from 30% to 100%. Kenyans may engage in several tournaments to win some of the top prizes.

Conclusion

👉 Millions of previously uninvolved traders can now participate in day trading because of the widespread availability of smartphones, but even the most seasoned investors may find themselves unable to ignore the many distractions that come with using such devices.

 

👉 The importance of creating and following a trading strategy cannot be overstated. Ask yourself what kind of day trader you want to be and write down some specific objectives before you sign up for a new brokerage account or install a trading app.

FAQ

Can beginners start day trading in Kenya?

Depending on the brokerage you choose, you could open an account and get started with as little as $1,000. Trading stocks every day costs at least $25,000, which makes this a more expensive choice.

If you are just starting, you might not want to trade stocks or cryptocurrencies every day because you will need more money upfront.

 

Is it worth being a day trader?

It might not be worth it to those who do not have the capital requirements, and most day traders lose money while trading on the same day.

It has been reported anecdotally that 95% of day traders lose money, and research has shown that about the same amount of unproductive day traders continue trading despite losing money.

 

Where can Kenyans practice day trading?

TradeStation and Interactive Brokers are two of the most popular brokers. Both have full-featured simulators that can even be used with their automated trading rules.

To use the simulator, day traders who use these platforms will need to open an account, which could mean putting in the minimum amount of money needed.

 

How much money do I need to day trade?

Most experienced day traders must have at least $25,000 in their accounts to day trade every day. If the balance falls below that level, brokers could do a margin call, which means that traders must top up their accounts, or risk losing their position.

 

Why do most day traders fail?

Most traders fail because they do not take day trading seriously enough. Most traders who are just starting look for ways to get rich quickly and do not plan out how they will approach the market.

10/10 - (1 vote)