Top 8 Locally Based Brokers
7 Best MT4 Brokers in Kenya
The 7 Best MT4 Forex Brokers in Kenya revealed. We tested and verified the best MT4 platforms from top forex brokers with a secure, dependable trading environment for Kenyan Traders.
This is a complete list of MT4 forex brokers in Kenya.
In this in-depth guide you’ll learn:
- What is the MT4 Trading Platform?
- How does MetaTrader4 work as a platform?
- How to open an MT4 account?
- Who are the best MetaTrader4 brokers in Kenya?
- How to choose a forex broker best suited for your trading style.
- How to download the MT4 platform on your phone (IOS and Android).
- Which MT4 broker offers a demo account?
- Which MetaTrader4 brokers offer a low minimum deposit of $5 (583 KES)?
- Which broker offers a sign-up bonus for first-time traders?
And lots more…
So if you’re ready to go “all in” with the best-tested MT4 forex brokers for Kenyan Traders…
Let’s dive right in…
- Louis Schoeman
Best MT4 Brokers in Kenya
| 🥇 Broker | ✔️ MT4/MetaTrader4 Broker? | 💰 Minimum Deposit? | 💸 Kenyan Shilling (KES) Deposits Allowed? | 👉 Open Account |
| 1. AvaTrade | Yes | $100 (11 635 KES) | Yes | 👉 Open Account |
| 2. HF Markets | Yes | 5 USD (580 KES) | Yes | 👉 Open Account |
| 3. Exness | Yes | 1 USD (116 KES) | Yes | 👉 Open Account |
| 4. Tickmill | Yes | 150 USD (17 506 KES) | Yes | 👉 Open Account |
| 5. Pepperstone | Yes | 100 USD (11 668 KES) | Yes | 👉 Open Account |
| 6. OANDA | Yes | 100 USD (11 668 KES) | Yes | 👉 Open Account |
| 7. FP Markets | Yes | 80 USD (9 336 KES) | Yes | 👉 Open Account |
7 Best MT4 Brokers in Kenya (Updated 2023)
- AvaTrade – Overall, Best MT4/MetaTrader4 Broker in Kenya
- HF Markets – Best MT5/MetaTrader5 Forex Broker
- Exness – Best MT4 Broker for Beginner Traders
- Tickmill – Best Volatility75/VIX75 Broker in Kenya
- Pepperstone – Best MT4 STP Broker for Kenyan Traders
- Oanda – Best MT4 Trading App in Kenya
- FP Markets – Lowest Spread Broker with MT4 Broker
What are MT4 brokers in Kenya?
👉 MT4 brokers provide the popular online MetaTrader 4 (MT4) trading platform that is used to automate forex trading. Its simple user interface gives traders access to advanced technical analysis and flexible trading systems. MetaTrader 4 was developed by MetaQuotes in 2005.
1. 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 a worldwide CFD and FX broker. AvaTrade is regulated by financial watchdog authorities in Europe, the British Virgin Islands, Australia, Japan, and South Africa.
👉 An optimal trading environment is created for every level of the trader by the company’s 24-hour multilingual support desks to its extensive range of platforms and services. AvaTrade’s broad capacity includes a full spectrum of trading instruments including Forex, stocks, commodities, and indices. Since its opening in 2006, AvaTrade has won several awards and has been honored by various reputable organizations.
👉 Although AvaTrade is not regulated by the Capital Markets Authority (CMA) in Kenya it is a trusted and highly recommended broker for Kenyan traders.
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%.
2. HF Markets
Overall Rating
- 4.8/5
Min Deposit
USD 0 / 0 KES
Regulators
CMA, CySEC, FSC, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5, HFM Trading App
Crypto
No
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 HF Markets, formerly known as HotForex, is a low-risk CFD and forex broker for Kenyan traders, with an overall rating of 9/10. The broker offers fair trading conditions, retail investor accounts, client fund security, and customer support.
👉 HF Markets is well-regulated by several reputable entities, and the Capital Markets Authority (CMA) in Kenya has granted a licence to HFM Investments Limited, a subsidiary of the brokerage company.
👉 HF Markets is a proud MetaTrader broker, providing trading platforms for MetaTrader 4 and MetaTrader 5. Each retail trading account accommodates traders with varying trading styles, trading abilities, and investment objectives.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 📱 Social Media Platforms | • Facebook • Telegram • YouTube |
| 💻 Trading Accounts | Micro Account, Premium Account, HF copy Account, Zero Spread Account, Auto Account |
| 📊 Trading Platform | MetaTrader 4 and MetaTrader 5 |
| 💰 Minimum Deposit | 5 USD or 580 KES |
| 💵 Trading Assets | Forex, 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 spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| Tight, competitive spreads from 0.0 pips on EUR/USD are offered | HF Markets only offers a few deposit and withdrawal methods to Kenyans |
| Kenyan traders have access to MetaTrader 4 and 5 across desktops, mobile apps, and web-based platforms | |
| A demo account is available for beginners who are learning to trade and professional traders who are testing strategies | |
| Kenyan traders can register a trading account in either USD, ZAR, or NGN | |
| Several asset classes can be traded through HF Markets |
Trust Score and Kenyan Market Share
🥇 HotForex has a trust score of 83% and a Kenyan market share of 2.5%.
3. Exness
Overall Rating
- 4.9/5
Min Deposit
USD 10 / 1156 KES
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Exness is a low-risk CFD and Forex broker authorized by several authorities. Exness provides dynamic and adaptable account types and some of the most advantageous trading conditions in the industry.
👉 Exness was created in 2008 and traders now have access to over 200 financial products, a variety of retail account types, and a wealth of resources.
👉 Despite the fact that it is not yet authorized by the Capital Markets Authority (CMA) in Kenya, Exness is one of the most popular brokers.
👉 The Exness Group’s website is available in 18 languages, and customer assistance in 13 languages 24 hours a day, seven days a week. Users have access to leverage, which can substantially lower margin requirements and permit more flexible management of trading strategies. Traders can withdraw cash instantaneously through a variety of electronic payment channels.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| 📱 Social Media Platforms | • Facebook • YouTube |
| 💻 Trading Accounts | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app |
| 💰 Minimum Deposit | 1 USD (116 KES) |
| ✅ Tradable Assets | Forex, Metals, Crypto, Energies, Indices, Stocks |
| 📉 Minimum spread | From 0.0 pips EUR/USD |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| Exness is well-regulated and keeps all client funds in segregated accounts with top-tier institutions | Exness offers a limited number of payment methods for deposits and withdrawals |
| Traders can choose between several retail investor accounts | Exness only offers a limited portfolio of financial instruments to traders |
| Exness offers an Islamic account conversion with no additional fees charged | |
| Instant deposits and withdrawals are offered | |
| Exness has customer support available 24 hours a day, 7 days a week |
Trust Score
🥇 Exness has a trust score of 97%.
4. Tickmill
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 11560 KES
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Tickmill is a low-risk option for Kenyan traders with an 81% trust score. Tickmill is well-regulated by reputable entities despite its lack of regulation through the Capital Markets Authority (CMA) in Kenya.
👉 Tickmill is a standard MetaTrader broker and its VIP and Pro accounts do provide highly attractive commission-based pricing. In addition to low spreads, huge leverage, and fast execution speeds, Tickmill offers a wide range of CFD currency, stock, commodity, and index CFDs.
👉 Tickmill provides traders with a wide range of trading tools and instructional resources, including various professional yet simple-to-use trading platforms.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| 💻 Trading Accounts | Pro Account, Classic Account, VIP Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5 |
| 💰 Minimum Deposit | 100 USD or 11635 KES |
| ✅ Trading Assets | Forex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies |
| ✔️ Deposits Allowed | USD, GBP, EUR, IDR, CNY, VND, or RUB |
| 📉 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| Tickmill offers robust trading platforms and innovative mobile trading | Tickmill spreads are not the tightest |
| Tickmill has a very high trust score and is known for its competitive trading conditions | Currency conversion fees will apply for foreign deposits |
| Advanced traders can use a range of tools including FIX API, AutoChartist, VPS, and others | No fixed spread accounts are offered |
| There are several convenient funding options available including Skrill, Neteller, and more |
Trust Score
🥇 Tickmill has a trust score of 81%
5. Pepperstone
Overall Rating
- 4.1/5
Min Deposit
USD 10 / 1156 KES
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader and TradingView
Crypto
No
Total Pairs
60+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Trading margined products carries a high level of risk. Pepperstone Markets Kenya Limited, CMA Licence No. 128
Overview
👉 Founded in 2010 and based in Australia, Pepperstone is a prominent CFD and forex broker.
👉 Pepperstone is known for exceptional client service, research offerings, and extensive selection of platforms. Pepperstone is a multi-location broker that adheres to tight rules. In Kenya, the Capital Markets Authority (CMA) has granted Pepperstone Markets Kenya Limited a license.
👉 Pepperstone provides online trading to more than 170 nations across the world. Pepperstone is capable of handling multiple order fills on a “market execution” basis without requotes, with the possibility of positive or negative slippage, and without broker interference.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB |
| 📱 Social Media Platforms | • Facebook • YouTube |
| 💻 Trading Accounts | Standard account, Razor Account, Professional Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade |
| 💰 Minimum Deposit | 150 USD |
| ✅ Trading Assets | • Forex • Cryptocurrencies • Shares • ETFs • Indices • Commodities • Currency Indices |
| ✔️ Kenyan Naira-Based Account | No |
| 💳 Bonuses for Kenyan traders? | No |
| 📉 Minimum spread | from 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| Pepperstone caters for traders of all trading experience or style | Leverage restrictions apply |
| Pepperstone is a multi-regulated and multi-award-winning broker | Additional fees applied to the Islamic account |
| Pepperstone ensures client fund security by keeping it in segregated accounts | |
| Pepperstone accepts Kenyan traders and provides enough educational material for beginners | |
| Demo account and Islamic account offered | |
| Several funding options offered | |
| No deposit fees and withdrawal fees charged |
Trust Score and Kenyan Market Share
🥇 Pepperstone has a very high trust score of 92% and a market share of <5% in Kenya.
6. Oanda
Overall Rating
- 4.9/5
Min Deposit
USD 0 / 0 KES
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Desk
Metatrader 4 and Metatrader 5
Crypto
Yes
Total Pairs
45
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Because of its competitive trading conditions, award-winning proprietary platform, and high-quality trading solutions, OANDA is an appealing option. With a trust score of 91 percent, OANDA is a low-risk forex and CFD broker for Kenyans.
👉 OANDA is regulated and authorized by several reputable entities, and despite the fact that the Capital Markets Authority (CMA) does not regulate the broker, it is a viable option for Kenyan traders. On OANDA’s platform, both professionals and novices can access a wide range of indicators and charting tools, making it ideal for both novices and experts.
Unique Features
| Feature | Information |
| ⚖️ Regulation | IIROC, ASIC, CFTC, NFA, FCA, FFAJ, MAS, MFSA |
| 📱 Social Media Platforms | • Facebook • YouTube |
| 💻 Trading Accounts | Standard Account, Core Account, Swap-Free Account |
| 📊 Trading Platform | MetaTrader 4, OANDA Platform, TradingView |
| 💰 Minimum Deposit | 1 USD (116 KES) |
| ✅ Trading Assets | Index CFDs, Forex, Metals, Commodity CFDs, Bonds CFDs, Precious Metals, Real-time Rates |
| ✔️ Kenyan Shilling-based Account? | No |
| 💵 KES Deposits Allowed? | Yes |
| ✔️ Kenyan Naira-Based Account | No |
| 💳 Bonuses for Kenyan traders? | Yes |
| 📉 Minimum spread | 0.1 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| Oanda has an award-winning proprietary trading platform | There is an inactivity fee on dormant accounts |
| Negative balance protection is automatically applied to the retail accounts | No fixed spreads are offered on accounts. |
| The broker offers a dedicated account for Muslim traders | |
| No deposit fees are charged when accounts are funded | |
| There is a large selection of educational materials |
Trust Score and Kenyan Market Share
🥇 OANDA has a trust score of 91% and a market share of <5%.
7. 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 offers over 10,000 products in stocks, indices, forex, commodities, and cryptocurrencies, as well as a user-friendly mobile app and several account types.
👉 New traders will be drawn to the commission-free, low spread trading accounts, which provide access to over 10,000 instruments via an extremely user-friendly mobile trading app, as will experienced traders.
👉 Advanced traders will appreciate the commission-free ECN account, which provides access to raw spreads, as well as the Direct Market Access option for its share CFDs, which is available through professional trading platforms MetaTrader 5 and IRESS.
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 a high trust score of 81% and a market share of <5% in Kenya.
How to choose an MT4 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 MT4 Best Forex Brokers in Kenya
👉 In this article we have listed the best Forex brokers which offer the MT4 platform to traders in Kenya. We have further identified the forex brokers that offer additional services and solutions to Kenyan traders.
Best MetaTrader 4 / MT4 Forex Broker in Kenya
👉 Overall, Tickmill is the bests MT4 forex broker in Kenya. Tickmill’s VIP and Pro accounts do provide highly attractive commission-based pricing. In addition to low spreads, huge leverage, and fast execution speeds, Tickmill offers a wide range of CFD currency, stock, commodity, and index CFDs.
Best MetaTrader 5 / MT5 Forex Broker in Kenya
👉 Overall, HF Markets is the best MT5 broker in Kenya. HF Markets, formerly known as HotForex, is a low-risk CFD and forex broker that offers fair trading conditions, retail investor accounts, client fund security, and customer support.
Best MT4 Forex Broker for beginners in Kenya
👉 Overall, Exness is the best MT4 Forex Broker for beginners in Kenya. Exness provides dynamic and adaptable account types and some of the most advantageous trading conditions in the industry. Exness gives access to over 200 financial products, a variety of retail account types, and a wealth of resources.
Best MT4 Minimum Deposit Forex Broker in Kenya
👉 Overall, FBS is the best MT4 minimum deposit forex broker in Kenya. FBS is also a top forex and CFD broker for Kenyans that provides a wide range of trading accounts as well as an innovative and powerful proprietary trading app. FBS charges low, competitive fees, and traders can be confident that their clients’ funds are secure.
Best MT4 ECN Forex Broker in Kenya
👉 Overall, Axiory is the best MT4 ECN broker in Kenya.
👉 Axiory is one of the best ECN brokers. Trades with Axiory are executed in less than 200 milliseconds, and Kenyan traders are provided with the best trading software that is linked to Equinix data centers. Forex and CFD trading can be done with Axiory’s cTrader, MetaTrader, and the FIX API.
Best MT4 Islamic / Swap-Free Forex Broker in Kenya
👉 Overall, CM Trading is the best Islamic / Swap-free MT4 broker in Kenya. CM Trading is also a trading services broker that accepts Kenyan traders even though the Capital Markets Authority (CMA) does not regulate the broker.
Best MT4 Forex Trading App in Kenya
👉 Overall, Oanda has the best forex trading App in Kenya. Oanda also offers competitive trading conditions, an award-winning proprietary platform, and high-quality trading solutions. On OANDA’s platform, both professionals and novices can access a wide range of indicators and charting tools.
Best MT4 Lowest Spread Forex Broker in Kenya
👉 Overall, FP Markets is the best lowest spread MT4 broker in Kenya.
👉 FP Markets also offers over 10,000 products in stocks, indices, forex, commodities, and cryptocurrencies, as well as a user-friendly mobile app and several account types.
Best MT4 Nasdaq 100 Forex Broker in Kenya
👉 Overall, XM is the best MT4 Nasdaq 100 forex broker in Kenya. XM also offers tight security, excellent customer service, account financing, and low fees.
Best MT4 Volatility 75 / VIX 75 Forex Broker in Kenya
👉 Overall, AvaTrade is the best MT4 Volatility 75 / VIX 75 forex broker in Kenia. AvaTrade is worldwide regulated by financial watchdog authorities and is lauded as CFD and FX broker. It offers an optimal trading environment for every level of a trader with 24-hour multilingual support desks. AvaTrade’s broad capacity includes a full spectrum of trading instruments including Forex, stocks, commodities, and indices.
Best MT4 NDD Forex Broker in Kenya
👉 Overall, OctaFX is the best MT4 NDD forex broker in Kenya. OctaFX is also a dependable broker because of its low required minimum deposit, commission-free trading and the availability of an unlimited practice account.
Best MT4 STP Forex Broker in Kenya
👉 Overall, Pepperstone is the best STP MT4 forex broker in Kenya. Pepperstone is also known for exceptional client service, research offerings, and extensive selection of platforms.
Best MT4 sign up bonus Broker in Kenya
👉 Overall, Trade Nation is the best MT4 sign-up bonus broker in Kenya. Trade Nation is also a platform with minimal risk and an effective trading app. Trade Nation further has competitive costs, a secure trading environment, and cutting-edge solutions.
Understanding how MetaTrader 4 brokers work
👉 There are numerous Forex trading platforms available, and which one is used should be one of the primary factors considered when selecting a Forex broker. A competent broker will almost certainly use the MetaTrader 4 platform for several reasons.
👉 MetaTrader 4, also known as MT4, is a popular electronic trading platform among online retail foreign exchange speculators. Because it is highly customizable to specific trading preferences, MT4 is extremely popular. It can also be used to automate trading by utilising algorithms that open and close trades on your behalf based on a set of parameters.
👉 Although it is most commonly associated with forex trading, MetaTrader 4 can be used to trade CFDs on a variety of markets such as forex, indices, cryptocurrencies, and commodities.
👉 MetaQuotes Software created it and released it in 2005. The software is licenced to foreign exchange brokers who sell it to their clients. The software has a client and a server component. The broker runs the server component, and the client software is distributed to the broker’s customers, who use it to view live streaming prices and charts, place orders, and manage their accounts.
👉 The MetaTrader 4 trading platform has become the market standard in the Forex market, and it is used by hundreds of brokers worldwide.
Advantages of MT4 brokers in Kenya
👉 Brokers that offer MT4 have several advantages. These advantages include:
➡️ Extremely user-friendly interface, enabling new and experienced traders to trade this complex and volatile market with ease and comfort. You can download the MT4 platform for your home computer, tablet and phone.
➡️ Users around the globe can benefit from the MT4 platform and all its data, in their own native language.
➡️ MT4 offers advanced charting capabilities that enable traders to trade and analyse the technical aspects of the market simultaneously.
➡️ Expert Advisors is a popular and important feature in the MT4 feature portfolio. Expert Advisors enable traders to automate their trades with a customized EA that best fits their needs.
➡️ The MT4 platform incorporates advanced communication tools for brokers to post messages and communicate with their traders in real time.
➡️ The MT4 platform is relatively low on resources, meaning it keeps its disruption of your PC to a minimum.
➡️ Users can view account information from within the actual platform interface.
➡️ MT4 is a highly secure platform that encrypts the data between trader and server with a 129-bit key.
➡️ The MT4 platform is engineered to support all currency crosses as well as the ability to trade other markets such as commodities, futures, and equities.
➡️ The MT4 platform supports full customization features, so the trader can tailor the platform to meet their trading needs and practices.
Disadvantages of MT4 brokers
👉 MT4 brokers also have some drawbacks of traders in Kenya should take note of in order to mitigate their risk of losses:
➡️ Since traders need to program and shape the MT4 trading platform according to their preferences, they need to have a certain level of programming knowledge.
➡️ The support system provided by MT4 may be inadequate for most traders.
➡️ MT4 is also geared more towards organizations than individuals.
➡️ Some traders complain that changing certain structures such as Fibonacci charts and trend lines is a bit complicated.
Conclusion
👉 Overall, the MetaTrader 4 trading platform has become the market standard on the Forex market. The MT4 platform offers modern technology and better security that allow Forex traders to open and cancel trades without worrying about platform reliability. All of these essential aspects enable a trader to accurately monitor the market allowing for precise market entry and exit.
FAQ
What is an MT4 broker?
A broker that offers the MetaTrader 4 (MT4) trading software can be considered an MT4 broker.
Is MetaTrader 4 a broker?
No. MetaTrader 4 is a trading platform that connects to a broker for forex trading.
What are the benefits of using MT4?
MetaTrader4 (MT4) is the most popular online trading platform and can be used to automate your trading. Its user interface gives traders access to advanced technical analysis and flexible trading systems.
Is MT4 a good platform?
MetaTrader 4 has an excellent user interface, and functionalities such as copy trading and Expert Advisors, which is ideal if you’re a beginner and also suitable for experienced traders.
Why do traders prefer trading on MT4?
MT4 is built for simplicity and is easy to use by casual and beginner traders while providing all the necessary resources you need.
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.
