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7 Best ECN Brokers in Kenya

The 7 Best ECN Brokers in Kenya revealed. We tested and verified the best ECN forex brokers for Kenyan Traders.

The is a complete list of True ECN forex brokers operating in Kenya. 

In this in-depth guide you’ll learn:

  • What are (Electronic Communication Network) ECN Brokers?
  • Who are the top ECN Forex Brokers for Kenyans with MT4/Metatrader 4?
  • How to choose the best forex broker for your trading experience?
  • Which ECN brokers offer a  Kenyan Shilling (KES) trading account?
  • Which ECN brokers offer a low $1 (116 KES) minimum deposit?
  • Which ECN Brokers offer trading apps?
  • Which ECN broker offers local offices in Nairobi, Kenya?
  • Which ECN Brokers offer a sign-up bonus to first-time traders?
  • Best low spread forex broker for beginners Kenyan Traders?

 

And lots more…

So if you’re ready to go “all in” with the Top ECN Forex Brokers for Kenyans…

Let’s dive right in…

Updated : September 26, 2022

Best ECN Brokers in Kenya (Updated 2022)

🥇 Broker✔️ ECN Broker?💰 Minimum Deposit?💸 Kenyan Shilling (KES) Deposits Allowed?👉 Open Account
1. BD SwissYes$100 (11 671 KES)No, only USD, GBP, EUR👉 Open Account
2. AxioryYes$10 (1 167 KES)No👉 Open Account
3. FBSYes$5 (583 KES)No👉 Open Account
4. HF MarketsYes$5 (580 KES)Yes👉 Open Account
5. FP MarketsYes$80 (8700 KES)No👉 Open Account
6. Trade NationYes$10 (1 167 KES)No👉 Open Account
7. OctaFXYes$100 (11 635 KES) No👉 Open Account

7 Best ECN Brokers in Kenya (Updated 2022)

  1. BD Swiss – Overall, Best ECN Broker in Kenya
  2. Axiory – Top Sign-Up Bonus Forex Broker
  3. FBS – Best Nasdaq100/NAS100 Forex Broker
  4. HF Markets – Verified ECN Broker for Beginner Traders
  5. FP Markets – User-Friendly ECN NDD Forex Broker for Kenyan Traders
  6. Trade Nation – Best ECN STP Forex Broker
  7. OctaFX – Top Kenyan Shilling Trading Account Forex Broker

What is an ECN forex broker?

👉 An ECN forex broker is an intermediary financial entity making use of Electronic Communications Networks. This gives traders open access to others participating in currency markets. The system provides traders with direct access to currency markets otherwise closed to them.

 

👉 Using ECN provides traders with ways of trading outside of normal trading hours. ECN Brokers don’t pass on order flow to market makers but rather create electronic participant matches.

Best ECN Forex Brokers in Kenya

👉 In this article, we will consider some of the best ECN forex brokers in Kenya. These brokers are recommended on a number of online sites and are thought to be among the most trustworthy and efficient brokers operating in Kenya.

 

👉 In addition to general overviews, the article also examines features unique to each of these top Kenyan brokers, together with pros and cons, trust score, and market share in Kenya.

1. BD Swiss

Overall Rating

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 was introduced in Switzerland in 2012. It is a global company handling in excess of 16 000 affiliate accounts, with a figure of over $20 Billion in monthly forex trades.

 

👉 It has a very active presence on social media and offers its own proprietary trading platform on both mobile and internet browsers. It also provides MetaTrader 4 and 5.

 

👉 BDSwiss is regulated by several regional regulators though it is not regulated by the Kenyan Capital Markets Authority (CMA). It is a safe, flexible, and reliable option for traders with a variety of different needs and trading objectives.

 

👉 Award-winning conditions, excellent trading platforms, and low fee structures make BDSwiss a highly competitive broker in Kenya, where it is listed among the top 100 brokers.

 

Unique features

FeatureInformation
⚖️ RegulationCySEC, FSC, BaFIN, FSA
📱 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• Instagram
• 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
✅ Trading Assets• Forex
• Commodities
• Shares
• Indices
• Cryptocurrencies
✔️ Kenyan Shilling-based Account?No
💰 KES Deposits Allowed?No, only USD, GBP, EUR
📉 Minimum spreadFrom 0.3 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
BDSwiss is well-regulated and offers services to countries worldwideThere 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

 

Trust score

🥇 BDSwiss has a trust score of 78% and a market share of < 5% in Kenya.

2. Axiory

Overall Rating

Min Deposit

10 USD / 1156 KES

Regulators

IFSC, MFSC and FSC

Trading Desk

MetaTrader4, MetaTrader5, CopyTrade and cTrader

Crypto

No

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 Axiory is the best ECN broker that is an NDD. It provides the best trading software to Kenyans, connected to Equinix datacentres, with transactions carried out in under 200 milliseconds.

 

👉 It is a reputable multi-regulated broker though not regulated by the Kenyan Capital Markets Authority (CMA). Founded in 2011 by experienced fund managers, it has enjoyed rapid industry growth, driven by Purple Technology.

 

👉 Axiory has trading servers housed in Equinix datacentres in the UK, Japan, and the US, among other places.

 

👉 As a no dealing desk (NDD) broker, Axiory sends client orders directly to the interbank liquidity pool, where they are processed at the highest possible speeds and at the best rates.

 

👉 Though it does not have a large market share in Kenya, it is among the top 50 CFD and forex brokers with services available to Kenyan traders.

 

👉 Customer funds are kept in segregated accounts, and anti-money laundering (AML) rules are strictly adhered to. Axiory also follows secure client verification procedures.

 

Unique Features

FeatureInformation
⚖️ RegulationFSC Belize, FSC Mauritius, FCA
📱 Social Media Platforms• Facebook
• Twitter
• Telegram
• Instagram
• YouTube
• LinkedIn
💻 Trading Accounts• Nano Account
• Standard Account
• Max Account
• Tera Account
• Alpha Account
📊 Trading Platform• MetaTrader 4
• MetaTrader 5
• cTrader
• Axiory CopyTrade
💰 Minimum Deposit$10 (1 167 KES)
✅ Trading Assets• Forex
• Gold and Precious • Metals
• Oil and Energies
• CFD Indices
• CFD Stocks
• Exchange Stocks
• Exchange ETFs
✔️ Kenyan Shilling-based Account?No
💵 KES Deposits Allowed?No
📉 Minimum spreadFrom 0.13 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
Axiory is multi-regulated and offers investor protection through the Financial CommissionKenyan traders are not given the benefit of local deposit and withdrawal options
Client Funds are kept in segregated with top financial institutionsThe Kenyan shilling is not a base currency option for a trading account
There is a choice between dynamic and flexible trading accountsHolding commissions are applied to the Islamic account
Traders can choose between robust and reliable trading platformsCryptocurrencies cannot be traded through Axiory
There is both an Islamic account and a practice trading account
Traders can use AutoChartist and a few other helpful tools
Kenyan traders can use several trading strategies
Axiory offers competitive trading conditions across all account types and financial markets

 

Trust Score

🥇 Axiory has a trust score of 90% and a market share of < 5% in Kenya.

3. FBS

Overall Rating

Min Deposit

USD 1 / 116 KES

Regulators

IFSC, FSCA (South africa), ASIC, CySEC

Trading Desk

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

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

$140 (16 373 KESFind out More)

Account Activation Time

24 Hours

Overview

👉 FBS offers cheap costs, high levels of client security, and outstanding trading account options through its own unique trading app.

 

👉 The company, which was founded in 2009, has established a strong reputation via more than a decade of international brokerage expertise and the development of cutting-edge trading tools. Its reputation is demonstrated by its daily addition of 10,000 new clients.

 

👉 FBS is both trustworthy and efficient, despite the fact that it is not regulated by the Capital Markets Authority (CMA) in Kenya. It is well-regulated by a variety of industry entities in more than 150 countries.

 

👉 It accepts a wide range of Kenyan trading techniques and provides a wide range of educational tools, such as regular webinars, videos, and educational material.

 

👉 It uses both Straight Through Processing and Electronic Communications Networks, and it’s capital requirements are modest.

 

👉 With a wide range of tradable assets, FBS is an excellent choice for Islamic Kenyan traders.

 

Unique Features

FeatureInformation
⚖️ RegulationCySEC, IFSC
📱 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
• Instagram
• Telegram
💻 Trading AccountsFBS Cent Account, FBS Micro Account, FBS Standard Account, FBS Zero Account, FBS ECN Account, FBS Crypto Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5, XM Mobile App
💰 Minimum Deposit5 USD or 580 KES
✅ Trading AssetsForex, Precious Metals, Indices, Energies, Stocks, Exotic Forex, Cryptocurrencies
✔️ Kenyan Shilling-based Account?No
💸 KES Deposits Allowed?No
📉 Minimum spreadFrom 0.1 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
FBS is well-regulated and offers competitive trading conditionsThe demo account is only available for 40 days
Traders can choose between a range of FBS trading accountsFBS only supports a few methods for deposits and withdrawals
Both a demo and an Islamic account are offered to tradersThere are withdrawal and deposit fees applied
FBS offers customer support 24/7Inactivity fees apply
FBS offers a range of bonuses and promotions to new and existing clients

 

Trust Score

🥇 FBS has a trust score of 75%.

4. HF Markets

Overall Rating

Min Deposit

USD 5 / 578 KES

Regulators

CySEC, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on HFM (Formerly Known as Hotforex)’s website

 

Overview

👉 HF Markets is a top-notch MetaTrader broker that provides excellent investment modes for both novice traders and more seasoned investors. Because of its well-regulated status and the reputation it has earned over the years, Kenyan traders can put their faith in this company.

 

👉 Its subsidiary, HFM Investments Limited, has just recently been granted a license to operate in Kenya’s capital markets by the Capital Markets Authority (CMA).

 

👉 HF Markets is able to accommodate a diverse range of individual investor preferences and requirements by providing a highly variable set of trading features and conditions.

 

👉 The business has been recognized with more than 55 awards in its field and currently maintains over 2.5 million operational accounts.

 

Unique Features

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

 

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

 

Trust Score and Kenyan Market Share

🥇 HotForex has a trust score of 83% and a Kenyan market share of 2.5%.

5. FP Markets

Overall Rating

Min Deposit

USD 100 / 11560 KES

Regulators

ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

60

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 FP Markets is an excellent low-cost CFD and forex broker. It offers more than 8000 products available across the trading platform suite. This company stands out, especially as a cost-effective forex broker in Kenya.

 

👉 Though not regulated by the Capital Markets Authority in Kenya, FP Markets is a well-regulated broker in terms of ASIC and CySEC, which permits it to trade across borders.

 

👉 Its in-house social trading service caters to rising demand for this subsector and is one aspect of this company’s astute development strategies.

 

👉 FP Markets has had more than 40 accolades for client service and execution technology and has been one of the leading CFD and forex brokers globally since 2005.

 

👉 It has four live trading accounts at the disposal of Kenyan traders, and though it does not enjoy a large share of the Kenyan market, it falls into the top 20 brokers for traders in Kenya.

 

Unique Features

FeatureInformation
⚖️ RegulationASIC, CySEC
📱 Social Media Platforms• Instagram
• Facebook
• Twitter
• YouTube
💻 Trading AccountsRetail Account, Professional Account
📊 Trading PlatformMT4/5 Standard Account, MT4/5 Raw Account, MT4/5 Islamic Standard Account, MT4/5 Islamic Raw Account
💰 Minimum Deposit8700 KES or 80 USD
✅ Trading Assets• Forex
• Shares
• Metals
• Commodities
• Indices
• Cryptocurrencies
• Bonds
✔️ Kenyan Shilling-Based AccountNo
💵 KES Deposits Allowed?No
💳 Bonuses for Kenyan traders?No
📉 Minimum spread0.1 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
FP Markets is a well-regulated brokerAdministration fees charged on the Islamic Account
A dedicated Islamic account option are offered to Muslim tradersNo fixed spread accounts offered
A wide range of markets can be traded across asset classesWithdrawal 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

 

Trust Score and Kenyan Market Share

🥇 FP Markets has a high trust score of 81% and a market share of <5% in Kenya.

6. Trade Nation

Overall Rating

Min Deposit

USD 0 / 0 KES

Regulators

FSCA

Trading Desk

Crypto

Yes

Total Pairs

33

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

on Tradenation’s website

 

Overview

👉 Trade Nation is a low-risk, low-fee broker offering a safe trading environment to Kenyan traders. It offers advanced trading solutions suitable for all levels of trading experience.

 

👉 This broker has its own proprietary app and platform, in addition to MetaTrader 4. Trade Nation offers fixed spreads and guaranteed stops, and provides a flexible range of tradable assets.

 

👉 Though not licensed by the Capital Markets Authority (CMA) in Kenya, the company keeps traders’ funds in segregated accounts, ensuring fund security. It is also well regulated by a number of non-Kenyan authorities.

 

👉 Trade Nation operates under all the applicable laws and regulations. No fees or deposits are payable on trader registration.

 

👉 It falls under the top 100 brokers offering trading platforms and solutions to Kenyan traders.

 

Unique Features

FeatureInformation
⚖️ RegulationFCA, ASIC, FSCA, SCB
📱 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
• Instagram
💻 Trading Accounts• Low Leverage Account (1:30)
High Leverage Account (1:200)
📊 Trading Platform• MetaTrader 4
• Trade Nation app
💰 Minimum Deposit10 USD (1 167 KES)
✅ Trading Assets• Indices
• Stocks
• Precious Metals
• Forex
• Commodities
• Energies
• CFDs
💵 Kenyan Shilling-based Account?No
✔️ KES Deposits Allowed?No
📉 Minimum spreadFrom 0.4 pips
✔️ Demo AccountYes
☪️ Islamic AccountNo

 

✔️ Pros❌ Cons
Trade Nation offers MetaTrader 4 alongside its innovative proprietary trading platformThere is a limited selection of funding options
Trade Nation is a reputable and well-regulated broker that is well-trusted in the forex industryThere is no KES-denominated account and Kenyans cannot deposit funds in Kenyan shilling
There are no fees charged on deposits or withdrawalsCurrency conversion fees may apply to deposits made in KES
There is a range of markets available to Kenyan tradersThe spreads are not the lowest
There are tight, fixed spreads and no hidden fees
There is a selection of educational materials that are offered
Trade Nation provides sophisticated trading tools to advanced traders

 

Trust Score and Kenyan Market Share

🥇 Trade Nation has a trust score of 79% and a market share of < 5% in Kenya.

7. OctaFX

Overall Rating

Min Deposit

USD 5 / 578 KES

Regulators

FCA UK

Trading Desk

None

Crypto

Yes

Total Pairs

28

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 Octa FX conducts commission-free trading on its own proprietary app, and has an unlimited demo account. It offers exceptionally low minimum deposit fees while being a very reliable broker in Kenya.

 

👉 Founded in 2011, Octa FX has been awarded 28 accolades. Its aim is to maintain low trading costs, with 97.5% of orders executed slip-free using Straight Through Processes (STP) and ECN models.

 

👉 The company uses advanced technologies to secure personal data and financial transactions. To heighten security, traders are required to confirm all withdrawals by email. The broker guarantees the safety of all deposits made by Kenyan brokers.

 

👉 An extensive and effective risk management system limits financial losses, and all transactions are confirmed by ‘Know your customer’ (KYC) processes.

 

👉 Though Octa FX does not have an extensive market share in Kenya, it has systems that accommodate both novice and professional Kenyan traders.

 

Unique Features

FeatureInformation
⚖️ RegulationFinancial Services Authority in Saint Vincent and the Grenadines (SVG FSA), and Cyprus Securities and Exchange Commission (CySEC)
📱 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
• Instagram
• Telegram
💻 Trading AccountsMetaTrader 4 Habitual Trader Account, MetaTrader 5 Smart Trader Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5
💰 Minimum Deposit11635 KES or 100 USD
✅ Trading AssetsForex Currency Pairs, Index CFDs, Commodities, Cryptocurrencies
✔️ Kenyan Shilling-based Account?No
💵 KES Deposits Allowed?No
💸 Bonuses for Kenyan traders?Yes
📉 Minimum spreadFrom 0.6 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
OctaFX accommodates all types of traders in a transparent and safe trading environmentOffshore broker with tier-2 regulation
OctaFX offers reliable, instant deposits and withdrawalsA limited selection of trading instruments offered
Commission-free trading is offered on all retail investor accounts along with tight spreadsThere is a limited selection of retail accounts
The broker offers copy trading accounts through a proprietary trading appLimited 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

🥇 OctaFX has a trust score of 61%.

How to choose an ECN Forex Broker 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 ECN Forex Brokers in Kenya

Best ECN MetaTrader 4 / MT4 Forex Broker in Kenya

Best ECN MetaTrader 4 / MT4 Forex Broker

👉 Overall, Exness is the best ECN MetaTrader 4 forex broker in Kenya. Its regulation record with a variety of authorities together with its high leverage ratios makes it a sought-after broker. With 24/7 customer support and special services in KES, it offers a tailored solution for Kenyans.

 

Best ECN MetaTrader 5 / MT5 Forex Broker in Kenya

👉 Overall, BDSwiss is the best ECN MetaTrader 5 / MT5 forex broker in Kenya. This is a well-regulated company offering an enhanced experience and trading across a wide range of CFD instruments, including currency pairs, stocks, and others across the spectrum.

 

Best ECN Forex Broker for Beginners in Kenya

Best ECN Forex Broker for Beginners

👉 Overall, HF Markets is the best ECN forex broker for beginners in Kenya. While this company accepts numerous trading strategies, it is especially welcoming to beginners. It is a hybrid broker, offering both STP and ECN trading platforms.

 

Best ECN Minimum Deposit Forex Broker in Kenya

Best ECN Minimum Deposit Forex Broker

👉 Overall, Alpari is the best ECN minimum deposit forex broker in Kenya. Alpari offers local deposit and withdrawal options to Kenyans, with tight spreads and competitive commissions. It also provides Copytrading opportunities and has its own proprietary trading app.

 

Best ECN Forex Broker in Kenya

Best ECN Forex Broker

👉 Overall, IC Markets is the best ECN forex broker in Kenya. This entity is one of the only tried and tested ECN brokers in the industry. Hedging, scalping, and many other strategies are allowed, with low trading fees and demo and Islamic accounts.

 

Best ECN Islamic / Swap-Free Forex Broker in Kenya

Best ECN Islamic / Swap-Free Forex Broker

👉 Overall, Exinity is the best ECN Islamic/swap-free forex broker in Kenya with its Kenya-based office and special attention to Kenyan traders. It is well-regulated and reputable, and negative balance protection is offered. It also has local CMA regulations.

 

Best ECN Forex Trading App in Kenya

Best ECN Forex Trading App

👉 Overall, FXTM has the best ECN forex trading app in Kenya. FXTM offers advanced trading tools, and a choice between three live trading accounts. It also has good educational materials. All trading accounts can be registered as a demo.

 

Best ECN KES Trading Account Forex Broker in Kenya

Best ECN KES Trading Account Forex Broker

👉 Overall, Pepperstone is the best ECN KES trading account forex broker in Kenya. With Pepperstone, Kenyan traders are given local deposit and withdrawal options. Social trading features are also provided together with a comprehensive affiliate program.

 

Best ECN Lowest Spread Forex Broker in Kenya

Best ECN Lowest Spread Forex Broker

👉 Overall, Tickmill is the best ECN lowest spread forex broker in Kenya. This is one of the lowest cost brokers in the industry, with supreme liquidity depth and numerous enabled strategies. It offers flexible funding options, as well as commission-free trading.

 

Best ECN Nasdaq 100 Forex Broker in Kenya

Best ECN Nasdaq 100 Forex Broker

👉 Overall, FBS is the best ECN Nasdaq 100 forex broker in Kenya. It offers a good number of educational materials and welcomes Kenyan traders to some of the best trading conditions. The spread on the FBS ECN account is extremely competitive, with a payable commission of $6.

 

Best ECN Volatility 75 / VIX 75 Forex Broker in Kenya

Best ECN Volatility 75 / VIX 75 Forex Broker

👉 Overall, eToro is the best ECN Volatility 75/VIX 75 forex broker in Kenya. It is known for its robust social trading capabilities and the large range of markets offered. It offers Kenyans a user-friendly trading platform for use on web and mobile.

 

Best ECN NDD Forex Broker in Kenya

Best ECN NDD Forex Broker

👉 Overall, FP Markets is the best ECN NDD forex broker in Kenya. FP Markets offers several deposit and withdrawal options. It is known for its ECN pricing model that includes raw and tight spreads, starting from as low as 0.0 pips.

 

Best ECN STP Forex Broker in Kenya

Best ECN STP Forex Broker

👉 Overall, Oanda is the best ECN STP forex broker in Kenya. Oanda offers advanced trading tools with no specific minimum deposit. It also has flexible and powerful trading tools. Oanda is well regulated and offers competitive spreads.

 

Best ECN Sign Up Bonus Forex Broker in Kenya

👉 Overall, RoboForex is the best ECN sign-up bonus forex broker in Kenya. RoboForex has a wide range of tradable instruments and offers a 100% bonus for first deposits. It is an award-winning broker that has Verify My Trade.

Understanding how ECN forex trading works

👉 Electronic Communication Network (ECN) brokers act as intermediary entities for providing direct access to clients to other participants in currency markets. This electronic procedure facilitates tighter spreads because quotations for numerous participants are consolidated.

 

👉 Buyers and sellers are thus brought together electronically to execute trades. The network matches up buying and selling orders currently reflected in the exchange.

 

👉 The difference between ECN brokers or non-dealing desk (NDD) brokers from conventional brokers is that the former do not convey order flow to market makers. They electronically link participants in a trade and transfer the orders to liquidity providers.

Advantages of ECN forex trading

➡️ They result in a higher bid and lower ask prices

➡️ They allow tighter spreads

➡️ They provide better liquidity and fast direct trading

➡️ Brokers cannot trade against clients

Disadvantages of ECN forex trading

➡️ Fees and commissions are higher than on non-ECN trading

➡️ The bottom line and profitability are reduced by high per-trade commissions

Conclusion

👉 Overall, ECN forex brokers in Kenya provide a high standard of service and ECN technologies to Kenyan customers. While ECN trading may result in losses, it is generally a secure, swift, and efficient means for linking trade participants.

FAQs

 

Is it expensive to use ECN brokers?

Using ECN brokers are usually more expensive because the ECN fee is the sum of all fees charged by networks and exchanges for the service of matching buy and sell orders. 

 

Do ECN brokers offer their clients tighter bid/ask spreads than otherwise available to them?

Yes,  because ECN brokers consolidate the price quotations received from different market participants they are able to  offer its clients tighter bid/ask spread in general.

 

Are ECN brokers good?

ECN brokers are generally regarded as swift and reputable, though anonymous. ECN is a well-tested and effective alternative trading method.

 

Is ECN better than standard models?

ECN trading has tighter spreads and less expensive costs in liquid market conditions.

 

Are ECN Brokers better than STP Brokers?

The difference between the two lies in routing. STP brokers offer choices between liquidity providers while ECN brokers link them through a hub.

 

What is a demo ECN?

A demo ECN has a floating spread, 5 digits after comma, and Market Execution mode.

 

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.

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