Top 8 Locally Based Brokers
7 Best Low Spread Forex Brokers in Kenya
The 7 Best Low Spread Forex Brokers in Kenya revealed. We tested and verified the best low spread forex brokers for Kenyan Traders.
This is a complete list of low-spread forex brokers operating in Kenya.
In this in-depth guide you’ll learn:
- What are spreads in trading?
- Why traders should consider spreads before choosing a trading broker?
- Which brokers offer zero-spread accounts?
- Which local brokers have the lowest commissions in Kenya?
- How to choose a forex broker – Compare them against each other.
- Which broker offers ZERO spreads and Kenyan Accounts.
- Which broker offers a sign-up BONUS for first-time traders.
- Which low spread broker can you use with M-PESA?
- Which broker offers a low minimum deposit of $5 (584 KES)?
And lots more…
So if you’re ready to go “all in” with the best-tested low spread forex brokers for Kenyans…
Let’s dive right in…
- Louis Schoeman
Best Low Spread Forex Brokers in Kenya
| 🥇 Broker | ✔️ Low-Spread Broker? | 💸 Minimum Spread? | 💰 Minimum Deposit? | 👉 Open Account |
| 1. easyMarkets | Yes | 0.0 pips | $25 (2,800 KES) | 👉 Open Account |
| 2. FP Markets | Yes | 0.1 pips | $80 (8700 KES) | 👉 Open Account |
| 3. Alpari | Yes | 0.4 pip | $5 (570 KES) | 👉 Open Account |
| 4. IG | Yes | 0.0 pips | $250 (28,700 KES) | 👉 Open Account |
| 5. AvaTrade | Yes | 0.9 pips | $100 (11635,00 KES) | 👉 Open Account |
| 6. FXTM | Yes | 0.0 pips | $10 (1,100 KES) | 👉 Open Account |
| 7. GO Markets | Yes | 0.0 pips | AU$200 (17,000 KES) | 👉 Open Account |
7 Best Low Spread Forex Brokers in Kenya (Updated 2023)
- easyMarkets – Overall, Best Low Spread Forex Broker
- FP Markets – Best MetaTrader4/MT4 Forex Broker
- Alpari – Best Low Spread Minimum Deposit Broker
- IG – Best Broker for Beginner Kenyan Traders
- AvaTrade – Best MetaTrader5/MT5 Broker in Kenya
- FXTM – Best Low Spread Forex Trading App in Kenya
- GO Markets – Best ECN Forex Broker
What is a low spread forex broker?
👉 A low spread forex broker is a broker who typically offers low spreads on forex trading. With low spreads, there is a minimal difference between the bid and ask prices. Low spreads lead to advantageous trading conditions in major forex sessions.
👉 A low spread usually indicates low volatility and high liquidity.
1. easyMarkets
Overall Rating
- 4.9/5
Total Pairs
65
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 easyMarkets is a well-regulated forex broker in Kenya. It is an award-winning entity with its own proprietary mobile trading app. Its web-based platform boasts features such as guaranteed stop-loss and personal account management.
👉 The broker offers a great range of innovative market tools such as Inside Viewer, Freeze Rate, and Deal Cancellation.
👉 easyMarkets has made a name for itself in its ability to maintain constant spreads in spite of market volatility. Its proprietary platform puts set spreads and no slippage at traders’ disposal so that cost estimates can be made with ease before transactions are executed.
👉 The company has earned a good number of important industry awards, resulting in an A+ rating. easyMarkets has an average spread of 0.9 pips.
Unique Features
| Feature | Information |
| ⚖️ Regulation | BVI FSC, CySEC, ASIC, FSA |
| 📱 Social Media Platforms | • Instagram • YouTube |
| 💻 Trading Accounts | • Standard Account • Web/App • Standard Account MT4 • Premium Account Web/App • Premium Account MT4 • VIP Account Web/App • VIP Account MT4 |
| 📊 Trading Platform | • easyMarkets Platform • MetaTrader 4 • TradingView |
| 💰 Minimum Deposit | 2,800 KES or equivalent to $25 |
| 💵 Trading Assets | • Forex • Shares • Cryptocurrencies • Precious Metals • Commodities • Indices |
| ✔️ Kenyan Shilling-based Account? | No |
| 💵 KES Deposits Allowed? | Yes |
| 💸 Bonuses for Kenyan traders? | Yes |
| 📉 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| easyMarkets is well-regulated by several entities including ASIC, CySEC, BVI FSC, and FSA | There are no variable spreads offered |
| easyMarkets offers a range of markets that can be traded | Market Maker broker that takes the opposite side of trades, which means that the loss for a trader is a win for the broker |
| Kenyan traders are given access to several innovative features and benefits | There is an inactivity fee applied to dormant accounts |
| Kenyan traders have access to free guaranteed stops | |
| There are tight and competitive spreads charged | An inactivity fee is charged on dormant accounts |
| easyMarkets offers both TradingView and Trading Central | |
| easyMarkets offers innovative and powerful trading software | |
| There is a range of educational materials and advanced trading tools | |
| Deposit fees and withdrawal fees are not charged | |
| Commission-free trading is offered |
Trust Score and Kenyan Market Share
🥇 easyMarkets has a trust score of 82% and a market share of < 5% in Kenya.
2. FP Markets
Overall Rating
- 4.8/5
Min Deposit
USD 100 / 11560 KES
Regulators
ASIC, CySEC, FSCA
Trading Desk
MetaTrader 4, MetaTrader 5
Crypto
Yes
Total Pairs
63
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 FP Markets stands out as an excellent MetaTrader platform-based forex broker, with more than 8000 available products. It is also known to be one of the top cost-effective brokers globally.
👉 It offers many value-added services, including VPS hosting, copy trading, and retail account management. It is also remarkable for its far-seeing investment in social trading.
👉 Though FP Markets is not regulated by the Kenyan Capital Markets Authority (CMA), it is subject to several other authoritative regulators, and is a trustworthy and reliable operator in Kenya.
👉 The company has a dedicated compliance and customer support team and complies with ASIC regulations for investor protection. Customer funds are segregated from the broker’s operational funds in top-tier banks.
👉 FP Markets has an average spread of 1.19 pips.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, CySEC |
| 📱 Social Media Platforms | • Instagram • YouTube |
| 💻 Trading Accounts | Retail Account, Professional Account |
| 📊 Trading Platform | MT4/5 Standard Account, MT4/5 Raw Account, MT4/5 Islamic Standard Account, MT4/5 Islamic Raw Account |
| 💰 Minimum Deposit | 8700 KES or 80 USD |
| ✅ Trading Assets | • Forex • Shares • Metals • Commodities • Indices • Cryptocurrencies • Bonds |
| ✔️ Kenyan Shilling-Based Account | No |
| 💵 KES Deposits Allowed? | No |
| 💳 Bonuses for Kenyan traders? | No |
| 📉 Minimum spread | 0.1 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| FP Markets is a well-regulated broker | Administration fees charged on the Islamic Account |
| A dedicated Islamic account option are offered to Muslim traders | No fixed spread accounts offered |
| A wide range of markets can be traded across asset classes | Withdrawal fees charged |
| Powerful trading platforms for several devices are provided | |
| Kenyan traders receive an ECN pricing model with raw and tight spreads | |
| Fast trade execution through Equinix servers is guaranteed | |
| Copy-trading and automatic trading is offered | |
| Commission-free trading is possible | |
| No inactivity fees charged on dormant accounts |
Trust Score and Kenyan Market Share
🥇 FP Markets has an 81% trust score and a market share of < 5% in Kenya.
3. 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
Overview
👉 Alpari has 2 million registered customers globally and is known as a high-trust, low-risk forex broker in Kenya, apart from being a heavyweight in the forex sector generally.
👉 The company works with financial institutions and liquidity suppliers to obviate money laundering and secure a transparent and reliable environment for traders. Customers’ funds are kept separate from their own operational monies, and these are stored in top-tier banks.
👉 Alpari has an exceptionally large selection of services, including efficient customer support, and trading tools and conditions. Regular clients have the benefit of dedicated specialist staff offering support and professional advice.
👉 It is listed among the top 10 forex brokers for Kenya, though it does not enjoy a large Kenyan market share. Alpari offers an average spread of 0.82-0.92 pips.
Unique 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 |
| ✔️ Pros | ❌ Cons |
| Alpari has been in operation for decades and it has established a global presence | There are no fixed spread accounts |
| Kenyan traders are given access to MetaTrader 4 and 5, with associated trading accounts | Alpari does not have Tier-1 or Tier-2 Regulations |
| Muslim traders can convert their live trading account to a Swap Free Islamic Account | There is a limited range of tradable instruments |
| There are local deposit and withdrawal options offered to Kenyan traders | There is an inactivity fee charged |
| Kenyan traders can deposit funds in KES, saving them from currency conversion fees | There are withdrawal fees charged |
| There are four retail investor accounts offered, each with unique and competitive trading conditions | |
| Alpari offers tight spreads and competitive commissions | |
| News is streamed through FxWirePro, and traders have access to AutoChartist for auto trading | |
| Alpari provides Copytrading opportunities and has a proprietary mobile trading app |
Trust Score
🥇 Alpari has a 95% trust score and a market share of < 5% in Kenya.
4. IG
Overall Rating
- 4.8/5
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
Overview
👉 With its competitive spreads and a large range of account types, IG is a forex broker that is eminently suitable for both beginners and experienced traders.
👉 For new traders, IG provides educational instruments, including risk analysis, basic trading strategies, and trade news. Professional traders benefit from swift execution across a vast range of markets, seamless dealing, and high levels of security.
👉 Founded in 1974, IG was the first company of its kind and has built up a solid reputation over the nearly 40 years of its trading operations.
👉 The company offers low costs and spreads and has an average spread of 0.36-0.7 pips.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
| 📱 Social Media Platforms | • LinkedIn • YouTube |
| 💻 Trading Accounts | • IG Trading Account • Limited Risk Account • Islamic Account (Dubai traders only) • Demo Account |
| 📊 Trading Platform | • MetaTrader 4 • IG Platform • ProRealTime (PRT) • L2 Dealer • FIX API |
| 💰 Minimum Deposit | 28,700 KES or an equivalent to $250 |
| ✅ Trading Assets | • Forex • Indices • Shares • Commodities • Cryptocurrencies • Futures • Options |
| ✔️ Kenyan Shilling-based Account? | No |
| 💵 KES Deposits Allowed? | No |
| 📉 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes (Dubai customers only) |
| ✔️ Pros | ❌ Cons |
| IG is a multi-regulated and multi-asset online broker with one of the highest trust scores in Kenya | The minimum deposit is very high |
| IG offers a choice between several account types and trading platforms | Deposit fees are charged |
| Kenyan traders can use different trading strategies when they join IG | The Islamic account is only offered to Dubai traders |
| There are Islamic accounts offered to Dubai traders | There is a limited selection of payment options for deposits and withdrawals |
| Beginners are given access to the IG Academy | There are currency conversions if Kenyan traders deposit in Kenyan shilling |
| Advanced traders can expect several advanced and sophisticated trading tools |
Trust Score and Kenyan Market Share
🥇 IG has a very high trust score of 99% and a Kenyan market share of < 5%.
5. 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 is chosen by more than 400 000 users globally. It has won multiple industry awards and is one of the most highly regulated brokers internationally.
👉 Trading in more than 1250 FX pairs, AvaTrade offers service and support in many languages. Its advanced trading tools are provided free of charge, while it also offers Smart Charts, Webinars, and a range of forex trading tutorials
👉 With a $1000 investment, AvaTrade puts a dedicated account manager at the trader’s disposal for support and advice, as well as one-on-one training sessions.
👉 The company is strictly regulated, with customers’ funds kept in segregated accounts. AvaTrade offers Kenyan investors a flexible choice of investor accounts with a range of account types in various jurisdictions.
👉 AvaTrade has an average spread of 0.62-0.92 pips.
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 | Equivalent to $100 – 11635,00 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%.
6. 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
Overview
👉 FXTM is a trusted, competitive, low-risk forex broker in Kenya. It was founded in 2011 and has its home base in Cyprus. In more than a decade of operations, the company has garnered more than 25 awards, including Best Investment Broker.
👉 It is a multi-regulated forex broker and is registered with the Financial Conduct Authority in the UK. Retail client monies are retained in fully segregated accounts with top-tier banks.
👉 FXTM offers access to forex markets on a 24/7 basis, for five days a week. It trades in all major, minor, and exotic currency pairs, with average to low fees on forex trading.
👉 It has a strong and focused customer support system that is accessible via live chat, phone, or email. Trading and technical support include analysis of trading errors and solutions to trading problems as they come up.
👉 Trading solutions are provided for all types of trading strategies, and FXTM’s average spread sits at 0.8-1.0 pips.
Unique 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 |
| ✔️ Pros | ❌ Cons |
| FXTM is a multi-regulated and award-winning forex broker | Inactivity fees are charged on dormant accounts |
| There is a dedicated customer support team available | FXTM does not offer its services to United States clients |
| There are several easy and quick funding and withdrawal methods offered | |
| There are three dynamic retail investor accounts to choose from with high maximum leverage ratios | |
| Low minimum deposit requirements and commission-free trading offered | |
| Deposit fees are not charged on any of the payment methods offered and the processing times on withdrawals are quick | |
| There is a selection of educational tools offered and research tools for experienced traders | |
| There is dedicated customer support offered in multiple languages |
Trust Score and Kenyan Market Share
🥇 FXTM has a high trust score of 93% and a market share of < 5% in Kenya.
7. GO Markets
Overall Rating
- 4.9/5
Min Deposit
USD 200 / 23120 KES
Regulators
ASIC, CySec, FSC, FSA and SCA
Trading Desk
Hybrid
Crypto
Yes
Total Pairs
60
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 GO Markets is a multi-regulated forex broker in Kenya and adheres to stringent rules under a compliance management system. Client funds are stored in segregated accounts at top-tier banking institutions.
👉 The company offers two retail investor accounts suitable for traders at different levels of skill and experience.
👉 As one of the top 50 forex brokers in Kenya, GO Markets is especially focused on client needs and customer support. It is very competitive in trading fees against major currencies and offers an average spread of 1.1-1.2 pips.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, FSA Seychelles, FSC Mauritius, CySEC |
| 📱 Social Media Platforms | • Instagram • YouTube |
| 💻 Trading Accounts | • Standard Account • GO+ Account |
| 📊 Trading Platform | MetaTrader 4 and MetaTrader 5 |
| 💰 Minimum Deposit | 17,000 KES equivalent to AU$200 |
| 💵 Trading Assets | • Forex CFDs • Share CFDs • Index CFDs • Metal CFDs • Commodity CFDs |
| ✔️ Kenyan Shilling-based Account? | No |
| 💵 KES Deposits Allowed? | No |
| 💸 Bonuses for Kenyan traders? | No |
| 📉 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | No |
[
| ✔️ Pros | ❌ Cons |
| GO Markets is multi-regulated and guarantees client fund security | There are only two account types provided |
| There are no deposit or withdrawal fees charged | KES is not listed as a base currency for an account |
| The account registration is simple and hassle-free | There are many countries restricted from working with GO Markets |
| Kenyan traders are welcome and can expect competitive trading conditions | There is a high minimum deposit requirement |
| GO Markets offers powerful trading platforms across several devices, providing traders with flexibility | There is no Islamic Account option for Muslim traders |
| GO Markets provides convenient funding methods along with fast withdrawals | |
| There is excellent market analysis provided to traders | |
| Advanced traders have access to several useful trading tools |
Trust Score and Kenyan Market Share
🥇 GO Markets has a very high trust score of 98% and a market share of < 5% in Kenya.
How to choose a low spread 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 Low Spread Forex Brokers in Kenya
Best Low Spread MetaTrader 4 / MT4 Forex Broker in Kenya
👉 Overall, FP Markets is the best low spread MetaTrader 4 /MT4 forex broker in Kenya. This is a well-regulated entity that emphasizes client security. It is known for the raw and tight spreads in its ECN pricing structure. It has an average low spread of 1.19.
Best Low Spread MetaTrader 5 / MT5 Forex Broker in Kenya
👉 Overall, AvaTrade is the best low spread MetaTrader 5 / MT5 forex broker in Kenya. It is a trusted company that has won numerous awards and offers a wide choice of dynamic trading platforms. AvaTrade has a low spread average of 0.62-0.92
Best Low Spread Forex Broker for Beginners in Kenya
👉 Overall, IG is the best low spread forex broker for beginners in Kenya. It is multi-regulated, with one of the highest trust scores in Kenya. It offers a choice of more than 17 000 trading instruments, with flexible and transparent trading fees, and a low spread average of 0.36-0.7.
Best Low Spread Minimum Deposit Forex Broker in Kenya
👉 Overall, Alpari is the best low spread minimum deposit forex broker in Kenya. This company has a longstanding global presence. It offers local deposit and withdrawal options to Kenyans, with the ability to make deposits in KES. Alpari has a low spread of 0.82-0.92.
Best Low Spread ECN Forex Broker in Kenya
👉 Overall, easyMarkets is the best low spread ECN forex broker in Kenya. It offers a good range of educational materials and has powerful trading software. There is no fee for deposits and withdrawals and no commission on trading. It has a fixed low spread of 0.9.
Best Low Spread Islamic / Swap-Free Forex Broker in Kenya
👉 Overall, FBS is the best low spread Islamic / swap free forex broker in Kenya. FBS has 24/7 customer support and an exceptional range of educational materials. The company also offers numerous bonuses and promotions. FBS has a low spread offering starting from 0.0 pips.
Best Low Spread Forex Trading App in Kenya
👉 Overall, FXTM has the best low-spread forex trading app in Kenya. With over 250 tradable instruments, it offers quick and reliable funding options to Kenyans. FXTM provides tight spreads and offers a low minimum deposit.
Best Low Spread KES Trading Account Forex Broker in Kenya
👉 Overall, Pepperstone is the best low spread KES trading account forex broker in Kenya. This entity offers local deposit and withdrawal options to Kenyans. With a variety of trading platforms across devices, social trading opportunities are also provided.
Best Lowest Spread Forex Broker in Kenya
👉 Overall, Tickmill is the best lowest spread forex broker in Kenya. It allows strategies such as scalping and hedging, with algorithmic trading and auto trading. There are no fees for deposits and withdrawals, and Tickmill offers flexible funding options.
Best Low Spread Nasdaq 100 Forex Broker in Kenya
👉 Overall, eToro is the best low spread Nasdaq 100 forex broker in Kenya. The company offers commission-free trades and has a very rewarding affiliate program. With tier-1 regulation, eToro is a trusted broker with a newly-lowered spread of 1.3 pips.
Best Low Spread Volatility 75 / VIX 75 Forex Broker in Kenya
👉 Overall, IC Markets is the best low spread Volatility 75 / VIX 75 forex broker in Kenya. IC Markets is among the few brokers with a true ECN model, allowing hedging, scalping, and other trading strategies. It has a low spread average of 0.1 pips.
Best Low Spread NDD Forex Broker in Kenya
👉 Overall, HF Markets is the best low spread NDD forex broker in Kenya. As a multi-regulated, award-winning broker, HF Markets enjoys a high trust score. Advanced traders are given access to sophisticated trading tools. The company has a zero-spread offer on forex trades.
Best Low Spread STP Forex Broker in Kenya
👉 Overall, Axiory is the best low spread STP forex broker in Kenya. Axiory offers competitive trading conditions across several account types. AutoChartist and other tools are offered. This company has a spread of 1.2 (Standard Account) and 0.2 (Nano Account).
Best Low Spread Sign Up Bonus Forex Broker in Kenya
👉 Overall, RoboForex is the best low spread sign-up bonus forex broker in Kenya. RoboForex has a wide range of tradable instruments and several account types for traders. It offers a spread of 1.3 pips on its Pro-Standard Account and 0.0 pips on its ECN-Pro Account.
Understanding how low spread forex trading works
👉 Low spread forex trading works by taking advantage of the lowest spreads between bid and ask prices. The bid is the price at which the base currency is sold while the ask is the price at which it is bought by the trader. The spread is the difference between these prices.
👉 The measurement of the spread is denoted in pips, which are the smallest unit of a currency pair’s price movement. The difference between the bid and ask prices represents the broker’s profit. A low spread means a very small difference between the bid and asks prices.
👉 By using low spreads, trading costs can be kept low too. Low spreads also allow for more agility in entering and exiting trading positions.
👉 Low spreads can be particularly advantageous to experienced scalpers. The benefits, in this case, lie in extremely fast execution speeds and very low trading commissions.
👉 Forex brokers with the tightest spreads are usually ECN brokers, where traders are linked electronically with other participants in a trading position, and execution speeds are very high.
Advantages of low spread forex trading
➡️ Low spreads actually translate into lower trading commissions
➡️ With low spreads, the prices more closely match the real currency pair prices
➡️ Low spreads offer more stable trading with major currency pairs
Disadvantages of low spread forex trading
➡️ Low spreads can lead to high losses with excessive leveraging
➡️ There can also be security disadvantages with non-regulated brokers
Conclusion
👉 Overall, the best low spread forex brokers in Kenya offer well-regulated and transparent trading environments, with competitive spreads. Most also provide demo and Islamic accounts especially suited to Kenyan traders. They offer a good variety of trading platforms and tradable assets, with tight spreads and secure account conditions.
FAQs
Are low spreads good in forex trading?
Low spreads are generally good in forex trading as they translate into lower costs.
What is a spread in forex trading?
A spread is a difference between the bid and the ask prices of a currency pair.
Which forex brokers have the lowest spreads?
Forex brokers offering the lowest spreads are usually ECN brokers.
Are fast execution speeds good for low spread trading?
Fast execution speeds are good because they allow for rapid profit-taking in a volatile forex trading environment.
Are low spreads suitable for trading major currency pairs?
Low spreads are normal for major currency pairs because these are not usually subject to volatile fluctuations.
Conclusion
👉 Now it is your turn to participate:
➡️ What inspired you to start trading forex?
➡️ What have your experiences been in trading forex?
➡️ Which risk management strategy can you share with other traders?
👉 Regardless, please share your thoughts in the comments below.
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.
