Top 8 Locally Based Brokers
7 Best Micro Currency Trading Platforms in Kenya
The 7 Best Micro Currency Trading Platforms in Kenya revealed. We tested and verified the best micro currency trading platforms with a minimum deposit for Kenyan Traders.
This is a complete list of the best micro currency trading platform brokers in Kenya.
In this in-depth guide you’ll learn:
- What are micro currency platforms?
- Who are the best micro currency platform brokers?
- How to choose a forex broker – Compare them against each other.
- Which brokers are best for beginner traders?
- What is the difference between a micro account and a cent account?
- Which brokers offer a sign-up bonus to first-time traders?
- Which broker offers a low minimum deposit of $5 (583 KES)?
- Which trading platforms offer IOS and ANDROID Apps for Kenyans?
- Which trading platforms can you use with M-PESA?
And lots more…
So if you’re ready to go “all in” with the best-tested micro currency brokers for Kenyans…
Let’s dive right in…
- Louis Schoeman
Best Micro Currency Trading Platforms in Kenya
| 🥇 Broker | ✔️ Micro Currency Trading Account Broker? | 💰 Minimum Deposit? | 💸 Kenyan Shilling (KES) Deposits Allowed? | 👉 Open Account |
| 1. Exness | Yes | $1 (116 KES) | Yes | 👉 Open Account |
| 2. AvaTrade | Yes | $100 (11635,00 KES) | Yes | 👉 Open Account |
| 3. HF Markets | Yes | $5 (580 KES) | No | 👉 Open Account |
| 4. Pepperstone | Yes | $150 (17 506 KES) | No | 👉 Open Account |
| 5. Plus500 | Yes | $100 (11,500 KES) | Yes | 👉 Open Account |
| 6. eToro | Yes | $200 (23,000 KES) | No | 👉 Open Account |
| 7. FXTM | Yes | $10 (1,100 KES) | Yes | 👉 Open Account |
7 Best Micro Currency Trading Platforms in Kenya (Updated 2023)
- Exness – Overall, Best Micro Currency Platform in Kenya
- AvaTrade – Top MetaTrader 5/MT5 Forex Broker
- HF Markets – Verified Micro Currency Trading Sign-Up Bonus
- Pepperstone – User-Friendly Lowest Spread Forex Broker in Kenya
- Plus500 – Top Micro Currency Trading Islamic/Swap-Free Broker
- eToro – Best Trading App for Beginner Kenyan Traders
- FXTM – Verified Nasdaq100/NAS100 Broker in Kenya
What are Micro Currency Trading Platforms?
👉 Micro currency trading platforms allow for real-time trading in a currency or asset measured in 1,000 units. As a result, rather than trading a whole unit, the trader can bet on the price with a reduced initial balance and lower capital requirements, lowering the risks.
👉 One of the most popular options among new traders is the micro currency trading platform, which allows users to practice real trading without making a large investment. Micro currency trading platforms are becoming more popular as a way to test algorithms, robots, and tactics in a real-world setting with a low risk of losing money.
1. Exness
Overall Rating
- 4.9/5
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Overall, Exness is a low-risk CFD and Forex broker that is regulated and authorized in many jurisdictions. Exness not only has a variety of account kinds to choose from, but it also has some of the best trading conditions in the market.
👉 Exness traders have access to more than 200 financial products, a variety of retail account types, and a wealth of information. Even though it is not yet authorized by Kenya’s Capital Markets Authority (CMA), it is one of the most popular brokers.
👉 Leverage allows users to minimize margin requirements and control trading strategies more flexibly. Exness gives traders complete control over their funds by allowing them to withdraw cash quickly using electronic payment channels. The broker’s KES Account is great for Kenyan traders.
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 high trust score of 97% and although it does not have a large market share in Kenya, many do make use of this reputable trader.
2. 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 globally known CFD and FX broker and is part of the AvaTrader Groups. It is overseen by several financial institutions, in various jurisdictions.
👉 AvaTrade is an award-winning broker that offers trading in over 1,250 financial instruments through a choice of platforms. It offers two live account types and also caters to a demo and Islamic Swap-Free account to suit beginner traders and those following the Muslim faith.
👉 AvaTrade was among the first forex brokers to introduce CFD trading on commodities, indices, and stocks and introduce digital currency trading.
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
🥇 AvaTrade has a high trust score of 97%. The broker does not capture a significant market share in AvaTrade.
3. 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
👉 Overall, HF Markets, previous known as HF Markets, is well-regulated by several reputable entities and recently, HFM Investments Limited, a subsidiary of the brokerage company, has been given a license by the Capital Markets Authority (CMA) in Kenya.
👉 HF Markets offers to trade in MetaTrader4 and MetaTrader5. The retail investor accounts offered by the broker are appropriate for both rookie and experienced traders, as well as professional traders seeking a competitive edge in their trading.
👉 Each retail trading account has its own set of features and trading conditions to suit traders of various trading styles, trading abilities, and investment objectives. HF Markets has won over 55 forex industry awards and has over 2.5 million active accounts in the last decade.
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%.
4. 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
👉 Pepperstone is widely regarded as one of the greatest online trading brokers in the market, with over 170 countries and $8.3 billion in daily deals.
👉 They provide traders all over the world with access to all markets with cutting-edge technology, low spreads, low latency, and high-speed execution, as well as award-winning customer service.
👉 Over the years, the broker has received numerous awards, including those for forex broker quality, customer service, cutting-edge technology, and providing the best possible trading conditions for customers.
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 trust score of 93% but does not have a high market share.
5. Plus500
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 11560 KES
Regulators
CySEC, FCA, MAS, FSA, ASIC, FMA, FSCA
Trading Desk
WebTrader
Total Pairs
70
Crypto
Yes (Availability subject to regulations)
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Overall, Plus500 is a multi-regulated and market-leading online trading broker that offers a diverse choice of over 2,000 CFD products for trading through simple-to-use proprietary trading platforms.
👉 They provide commission-free trading with competitive spreads, a variety of simple account financing alternatives, and a top-rated 24/7 customer support team.
👉 Plus500’s unique trading platform is accessible on desktop, web, and mobile devices. Their easy and intuitive trading platform is one of the highest-rated trading applications in the Apple App Store and Google Play, thanks to its user-friendly UI and powerful features that enable users to trade from the palm of their hands while on the move.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, FSCA, FCA, CySEC, FSA Seychelles, MAS |
| 📱 Social Media Platforms | • Facebook |
| 💻 Trading Accounts | Standard Live Account |
| 📊 Trading Platform | Plus500 mobile and web-based trading platform |
| 💰 Minimum Deposit | 11,500 KES |
| ✅ Trading Assets | Forex major pairs, Forex minor pairs, Forex exotic pairs, Indices, Commodities, Shares, ETFs, Cryptocurrencies, Options |
| ✔️ Kenyan KES-based Account? | No |
| 💰 KES Deposits Allowed? | No |
| 💵 Kenyan shilling Deposits Allowed? | No, only USD, GBP, EUR, and AUD |
| ✔️ KES Deposits Allowed? | No |
| 📉 Minimum spread | From 0.8 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| Plus500 has subsidiaries in several regions, each well-regulated by prominent market regulators | There are inactivity and currency conversion fees |
| Commission-free trading is offered | The guaranteed stops are available at an additional charge |
| There are no deposit or withdrawal fees charged | There are restrictions on retail traders from some regions |
| There is a range of markets offered, with over 2,000 financial instruments | Restrictions on the maximum leverage |
| There is prompt and helpful 24/7 customer support available | Kenyans are not provided with a KES-denominated account and KES deposits/withdrawals are not supported |
| There are trading guides offered to beginners | There are limitations to the trading strategies that Kenyans can use |
| Advanced Kenyan traders can expect innovative products, market news, and insights | |
| Client fund security can be guaranteed |
Trust Score and Kenyan Market Share
🥇 Plus500 has a high trust score of 99% but does not dominate the Kenyan market share.
6. eToro
Overall Rating
- 4.8/5
Min Deposit
USD 50 / 5780 KES
Regulators
CySec, FCA
Trading Desk
None
Crypto
Yes
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.
Overview
👉 Overall, eToro is considered low-risk and is licensed by four Tier-1 Regulators (high trust), one Tier-2 Regulator (average trust), and one Tier-3 Regulator (low trust). eToro offers a single trading account with the option of a Retail or Professional setting.
👉 eToro’s major goal is to make financial markets available to everyone, anywhere. The company was founded in Israel in 2007 by three entrepreneurs.
👉 Trading and investing should be as straightforward and transparent as possible, decreasing the need for reliance on conventional financial institutions. These people have a wide range of innovative trading and investing instruments at their disposal.
Unique Features
| Feature | Information |
| ⚖️ Regulation | CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC. |
| 📱 Social Media Platforms | • Instagram • YouTube |
| 💻 Trading Accounts | One Standard Live Trading Account with the option for Retail and Professional |
| 📊 Trading Platform | eToro proprietary platform |
| 💰 Minimum Deposit | 23,000 KES or equivalent to $200 |
| ✅ Trading Assets | • Forex Pairs • Commodities • Exchange-traded funds (ETFs) • Indices • Crypto Assets Stocks |
| 💵 Kenyan shilling Deposits Allowed? | No, only USD, GBP, EUR, and AUD |
| ✔️ KES Deposits Allowed? | No |
| 📉 Minimum spread | 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| eToro has a strict and solid regulatory framework | There are limitations on leverage for retail traders |
| Client fund safety is guaranteed and there is consumer protection offered | There is a limited selection of retail investor accounts |
| eToro offers commission-free trading | Fixed spreads are not offered |
| There are over 2,000 complex instruments that can be traded | The spreads are not the tightest |
| The broker offers several trading opportunities and a social trading feature | There is a high minimum deposit on the Islamic Account |
| There is an award-winning proprietary platform offered | There is an inactivity fee charged on dormant accounts |
| eToro offers 24/6 dedicated customer services | |
| eToro offers a demo account and an Islamic Account | |
| Algorithmic trading and margin trading supported | |
| Real time quotes are offered alongside a wide range of benefits | |
| The mobile app is secure and features robust security such as two-factor authentication | |
| The app can be used as a wallet app for digital currencies | |
| Offers several resources that help traders make improved financial decisions with confidence | |
| Offers several helpful tools and services as a solid basis for investment decision along with investment advice | |
| Provides access to several popular cryptocurrencies that can be traded and crypto staking services | |
| There is a comprehensive portfolio management service and popular investor program offered |
Trust Score and Kenyan Market Share
🥇 eToro has a high trust score of 81% and a market share of <5% in Kenya.
7. 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
👉 Overall, FXTM is considered low-risk and is one of the world’s fastest-growing and finest forex brokers. FXTM or Forex Time was founded in 2011, and due to its concentration in Africa and Asia, the company grew rapidly throughout Europe and beyond in a short period.
👉 FXTM offers three different retail trading accounts namely a Micro Account, Advantage Account, and Advantage Plus Account.
👉 FXTM offers solid trading conditions and extensive instruction are its foundation, and they provide trading solutions and services to the world, regardless of the trader’s experience, via their accessible trading across the globe.
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
🥇 FXTM has a high trust score of 93% and although it does not have an extremely high market share in Kenya it is a popular broker suited to Kenyans.
How to choose a Micro Currency Trading Platform 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 Micro Currency Trading Platform in Kenya
👉 In this article we have listed the best Forex brokers which classify as Micro Currency Trading Platforms operating in Kenya. We have further identified the forex brokers that offer additional services and solutions to Kenyan traders.
Best Micro Currency Trading MetaTrader4 / MT4 Forex Broker in Kenya
👉 Overall, Alpari is the best MT4 Forex broker in Kenya. Alpari is a low-risk broker that may be summarized as a dependable and trustworthy market maker. Trading rates of a few milliseconds are guaranteed by Alpari. Over 2 million people have signed up with Alpari.
Best Micro Currency Trading MetaTrader5 / MT5 Forex Broker in Kenya
👉 Overall, AvaTrade is the best FTSE 250 MT5 Forex broker in Kenya. AvaTrade is one of the most reputable CFD and FX brokers in the world because of its stringent regulation and authorization, with Kenyan customer money maintained in segregated accounts with top-tier banks in each country.
Best Micro Currency Trading Platform for BEGINNERS in Kenya
👉 Overall, eToro is one of the best Micro Currency Trading Platforms s for beginners to utilize in Kenia. eToro offers various educational materials such as a demo account, new fees, analysis, eToro Academy and eToro Plus.
Best Micro Currency Trading Minimum Deposit Forex Broker in Kenya
👉 Overall, OANDA is the best FTSE 250 forex broker with a minimum deposit requirement of 0 Kenyan shillings. The broker offers a comprehensive trading platform for both novice and experienced currency traders.
Best Micro Currency Trading ECN Forex Broker in Kenya
👉 Overall, XM is the best FTSE 250 ECN forex broker in Kenya. Security, customer service, account financing, and minimal fees are some of the most important features that consumers look for in an online trading platform, and XM provides them in abundance.
Best Micro Currency Trading Islamic / Swap-Free Forex Broker in Kenya
👉 Overall, Tickmill is the best FTSE 250 Islamic / Swap-Free forex broker in Kenya. Tickmill is a trusted and easy-to-use broker for all Kenyan traders. This broker’s vast account selection, modest spreads, and rates make it excellent for many traders. Tickmill is governed by multiple countries and offers multilingual support.
Best Micro Currency Trading Forex Trading App in Kenya
👉 Overall, Exness offers the best trading app to start trading with. Kenyans will find that it is easy to get started with the Exness Trader platform since it includes all the necessities, such as candlesticks, indicators, and tools for computation.
Best Micro Currency Trading KES Trading Account Forex Broker in Kenya
👉 Overall, SuperForex is the best FTSE 250 KES Trading account forex broker in Kenya. SuperForex is a reliable broker that meets clients’ trading demands. Hundreds of trading products and user-friendly platforms meet everyone’s needs.
Best Micro Currency Trading Lowest Spread Forex Broker in Kenya
👉 Overall, Pepperstone is the best FTSE 250 lowest spread forex broker in Kenya. It offers spreads bbetween 0.0 pips and 0.3 pips on USDEUR. Pepperstone Markets is one of the most prominent trading brokers with an established track record. Its market share continues to grow because of its low trading fees, quick transaction executions, and wide range of assets.
Best Micro Currency Trading Nasdaq 100 Forex Broker in Kenya
👉 Overall, IG is the best FTSE 250 Nasdaq 100 forex broker in Kenya. The broker is one of the Top 20 brokers for Kenyan traders because of its unique trading solutions, comprehensive offering, and competitive trading conditions. IG is a multi-regulated and multi-asset online broker with one of the highest trust scores in Kenya.
Best Micro Currency Trading Volatility 75 / VIX 75 Forex Broker in Kenya
👉 Overall, IC Markets is the best FTSE 250 Volatility 75 / VIX 75 forex broker in Kenya. IC Markets is a multi-regulated broker with a high trust score. Kenyan merchants can trade on any financial exchange using IC Markets’ complex products.
Best Micro Currency Trading NDD Forex Broker in Kenya
👉 Overall, BDSwiss is the best FTSE 250 NDD forex broker in Kenya. It has the best active presence on social media platforms. BDSwiss is a CFD and forex broker and a worldwide supplier with more than 16,000 affiliate accounts and presently trades more than €20 billion in FX each month.
Best Micro Currency Trading STP Forex Broker in Kenya
👉 Overall, OctaFX is the best FTSE 250 STP forex broker in Kenya. The broker has been honored with over 28 accolades to date. It is OctaFX’s goal to keep trading costs low, executing 97.5% of orders slip-free using STP (Straight Through Processing) and ECN models.
Best Micro Currency Trading Sign Up Bonus Broker in Kenya
👉 Overall, HF Markets which has been previously known as Hotforex is the best FTSE 250 sign-up broker in Kenya. HF Market’s low price and excellent trading platform are exceptional. New and seasoned forex traders will benefit from the platform’s diversity of accounts and asset classes.
Understanding how the Micro Currency Trading Platform works
👉 Micro trading is currently one of the most popular techniques of speculating, and it is attracting a rising number of traders all around the world.
👉 Trading on the Forex using a micro-account is known as micro trading. Forex micro-accounts are similar to mini-trading accounts in that they allow investors to trade lesser sums than regular trading accounts allow.
👉 Micro-trading essentially allows you to speculate on currencies and their exchange rates with lower transaction quantities, i.e. a fraction of what is generally achievable with regular Forex trading accounts. The profits, of course, are smaller as well.
👉 Because the micro-trading approach is a little more delicate, it is best suited for experienced investors who are familiar with the markets and their operation, as well as online trading.
Advantages of Micro Currency Trading Platforms
👉 Advantages of Micro Currency Trading Platforms s include:
➡️ Individual investors who are unfamiliar with the fundamentals of online trading and the foreign exchange market might consider micro currency trading.
➡️ Because the activities and transactions offered are tiny in scale, they do not transit through the interbank foreign exchange market.
➡️ The Forex broker with whom you opened your micro-trading account is in charge of monitoring the market on which your orders are executed.
➡️ Brokers may offer various types of trading at a lower cost and risk because they have the means to shield themselves from the dangers. As a result, they can offer very reasonable spreads and rates in the face of highly fierce competition.
Disadvantages of Micro Currency Trading Platforms
👉 There could also be some drawbacks to trading with Micro Currency Trading Platforms:
➡️ Brokers pay a rate for open positions outside market opening times. Profits and performance are affected. To avoid this, trade just during opening hours or compare broker fees across platforms.
Conclusion
👉 Overall, trading through Micro Currency Trading Platforms can give high rewards to Kenyan traders when proper research is done on Micro Currency Trading Platforms. To trade with the Micro Currency Trading Platform, traders should have a good trading plan and risk management strategy in place.
FAQ
What is micro currency trading?
Brokers offering micro currency trading are companies that offer live trading through 1,000 units of the base currency or asset. A trader can speculate on a price rather than trading a full unit, as the initial balance is smaller and the capital requirement is lower, which reduces risk.
Why would a trader choose to trade in micro currency?
Micro currency trading is popular with starting traders since it allows them to trade without a large investment. Micro currency trading platforms are used to test algorithms, robots, and strategies in a real setting with little risk.
What can you trade on a micro account?
With a micro account, a trader can trade with a contract size of 1000 units of currency.
How much is 1 lot in a micro account?
They’re 1,000 units of account-funding currency. If your account is funded in U.S. dollars, a micro lot is $1,000 in base currency.
How many pips is a micro-lot?
A micro lot is 1,000 units of base currency and equates to $0.10 per pip movement.
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.
