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10 Best Trading Apps in Kenya
The 10 Best Trading Apps in Kenya revealed. We tested the best forex trading apps for Kenyan Traders.
This is a complete guide to forex trading apps in Kenya.
In this in-depth guide you’ll learn:
- What is a Trading App?
- Which forex trading apps accept MPesa?
- What is the difference between forex and stock trading apps?
- How to compare the best trading apps against each other.
- Which Trading Apps are best for beginner Kenayn Traders?
- Which trading app offers a sign-up bonus for first-time traders in Kenya?
- Which trading app offers a low minimum deposit of $5 (583 KES) to start trading?
- Which trading app offers a mobile app on IOS and Android for Kenyan Traders?
- Best forex trading app in Kenya
And lots more…
So if you’re ready to go “all in” with the best-tested forex trading apps…
Let’s dive right in…
- Louis Schoeman
Best Trading Apps in Kenya
| 🥇 Broker | ✔️ Offers a Trading App? | 💰 Minimum Deposit | 💸 Bonuses for Kenyan traders? | 👉 Open Account |
| 1. FXTM | ✔️ Yes | $10 (1,100 KES) | No | 👉 Open Account |
| 2. Alpari | ✔️ Yes | $5 (570 KES) | Yes | 👉 Open Account |
| 3. FOREX.com | ✔️ Yes | $100 (11,500 KES) | No | 👉 Open Account |
| 4. AvaTrade | ✔️ Yes | $100 (11 635,00 KES) | No | 👉 Open Account |
| 5. Exness | ✔️ Yes | $100 (11 635,00 KES) | No | 👉 Open Account |
| 6. HF Markets | ✔️ Yes | $5 (580 KES) | Yes | 👉 Open Account |
| 7. eToro | ✔️ Yes | $100 (11 635 KES) | No | 👉 Open Account |
| 8. FBS | ✔️ Yes | $1 (116 KES) | No | 👉 Open Account |
| 9. XM | ✔️ Yes | $5 (580 KES) | Yes | 👉 Open Account |
| 10. InstaForex | ✔️ Yes | $1 (116 KES) | No | 👉 Open Account |
10 Best Trading Apps in Kenya (Updated 2023)
What is a trading app?
👉 A Trading App is a tool that can connect you to your trading account, broker, and trading activity through mobile devices such as a smartphone or a tablet.
👉 Trading Apps are available from your Google Playstore or App Store and can connect you to your trading profile while you are on the move, given that you are connected to the internet.
1. FXTM
Overall Rating
- 4.6/5
Min Deposit
USD 10 / 1156 KES
Regulators
CySec, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 When selecting a mobile trading app, it is essential to seek reputable companies. FXTM is a trustworthy platform for foreign currency trading, used by traders worldwide and fully regulated.
👉 This platform is fantastic since it is meant for both pros and amateurs. For instance, flexible leverage allows you to boost your earning potential, but only if you have enough expertise and experience.
👉 If you plan to become an expert in this field, there are several educational options available to you.
👉 In addition, the app can execute deals within milliseconds. In addition, the firm’s market research team provides daily commentary, and you could utilize a variety of free trading tools to make more informed trading decisions.
Features
| Feature | Information |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| 📱 Social Media Platforms | • Instagram • YouTube • Telegram |
| 💻 Trading Accounts | • Micro Account • Advantage Account • Advantage Plus Account • Demo Account • Islamic Account |
| 📊 Trading Platform | • MetaTrader 4 • MetaTrader 5 • FXTM Trader |
| 💰 Minimum Deposit | 1,100 KES or an equivalent to $10 |
| ✅ Trading Assets | • Precious Metals • Stocks • CFDs on Stocks • Indices • Forex • Commodities |
| ✔️ Kenyan Shilling-based Account? | No |
| 💵 KES Deposits Allowed? | Yes |
| 📉 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Average Fees
➡️ App Cost – Free
➡️ Minimum spread – 0.0 pips EUR/USD
➡️ Minimum Deposit – $0.40 to $2 according to trading volume
➡️ Overnight Fees – EUR/USD is -0.08 on a short position and -0.63 on a long position
➡️ Deposit/Withdrawal fees (range) – 0.5% up to 30 EUR (Bank wire transfer)
2. Alpari
Overall Rating
- 4.7/5
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
👉 Alpari is a well-known online broker with many years of expertise in trading. The company was founded in Russia in 1998 but has since expanded internationally. Today, Alpari counts millions of customers from several nations.
👉 The Alpari app is all-inclusive since it can perform any function on the Alpari network. It has applications in trading, monitoring, and analysis. The application is built for Android and iOS smartphones, is user-friendly, and is free.
Features
| Feature | Information |
| ⚖️ Regulation | Financial Services Commission Mauritius (FSC) |
| 📱 Social Media Platforms | • Facebook |
| 💻 Trading Accounts | Forex Standard Account, Forex Micro Account, Forex ECN Account, Forex Pro Account |
| 📊 Trading Platform | • MetaTrader4 • MetaTrader5 • Alpari Mobile App |
| 💰 Minimum Deposit | 570 KES |
| ✅ Trading Assets | 61 pairs – Forex Major Pairs, Minors, Exotics, 5 Spot Metals, 14 Spot CFDs |
| ✔️ Kenyan KES-based Account? | Yes |
| 💵 Kenyan shilling Deposits Allowed? | No, only USD, GBP, EUR, and AUD |
| ✔️ KES Deposits Allowed? | No |
| 📉 Minimum spread | From 0.4 pip |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Average Fees
➡️ App Cost – Free
➡️ Minimum spread – 0.4 pips EUR/USD
➡️ Commission Fees – from $1.5
➡️ Overnight Fees – EUR/USD is -0.06 pips on a short position and -0.61 on a long position
➡️ Withdrawal fees (range) – between 0.5% and up to 30 EUR on Bank Wire Transfer
3. FOREX.com
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 11615 KES
Regulators
CySEC, FCA
Trading Desk
–
Crypto
Yes
Total Pairs
50
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 FOREX.com’s app is one of our top picks for a forex broker since it offers competitive spreads and a top-notch mobile app for both iOS and Android.
👉 There are no limitations on the app’s functionality when used on a mobile device. Everything from sophisticated charting to news to portfolio management is available just as it is on the desktop edition.
👉 Intuitive software allows you to track your holdings and build personalized dashboards and watchlists.
Features
| Account Feature | Value |
| 💳 Initial Minimum Deposit (₦) | 11,500 KES equivalent to $100 |
| 📊 Average Spreads on Major Forex Pairs | From 0.2 pips EUR/USD |
| 💸 Typical Spreads | 1.3 pips EUR/USD |
| 💰 Forex Commissions per round turn | None |
| 💵 Commissions on Indices per round turn | None |
| 🔨 Trading Tools offered? | Yes, integrated trading tools |
| 🚀 Market Commentary | Yes |
| 📊 Market Analysis | Yes |
| ⚙️ Advanced Charting Tools offered? | Yes, and more than 80 technical indicators |
| 📈 Fast Trade Execution? | Yes, Execution Scorecard |
| 💵 Price Improvement? | Yes, with limit orders |
| 💸 Cash Rebates? | Yes, 15% |
| 🚦 Forex Trading Signals | Yes |
| 📲 Market Strategist Access | Yes |
| 📊 Active Trader Program | No |
| 📈 Top-Tier Liquidity | No |
| 💵 Spread splits | No |
Average Fees
➡️ App Cost – Free
➡️ Minimum spread – 0.3 pips
➡️ Commission Fees – $5 for 100,000 traded
➡️ Overnight Fees – a long swap of -0.54 and a short swap of 0.03
➡️ Inactivity Fees – $15 after 12 months
➡️ Currency Conversion Fees – 0.5% Fee
4. 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
👉 AvaTrade is well recognized as a top broker for Foreign Exchange (FX) and Contracts for Difference (CFD) trading. The primary goal of the platform is to provide traders with a fluid and responsive trading environment.
👉 There are several resources available to Kenyan traders on AvaTradeGO. These include position management software, charting capabilities, and more.
👉 The app gives users access to market trend technology, sociological trends, and basic and technical research, all of which may be used to make better financial choices.
👉 Easy-to-understand management tools, readable charts, a zoom function for inspecting finer points, and a plethora of other useful features are only the beginning of what makes trading with this program a pleasure.
👉 By providing customers with step-by-step guidance on initiating trades, feedback on their activity, and help whenever they need it, AvaTradeGO makes trading easier than ever before.
Features
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Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. It is really important that you do not trade any money that you can’t afford to lose because regardless of how much research you have done, or how confident you are in your trade, there will always be a time that you lose.
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