Top 8 Locally Based Brokers
10 Best NASDAQ 100 Brokers in Kenya
The 10 Best Nasdaq 100 index Forex Brokers in Kenya revealed. We tested and verified the best Nas100 Brokers for Kenyan Traders.
This is a complete list of Nasdaq 100 forex brokers in Kenya.
In this in-depth guide you’ll learn:
- What is Nasdaq 100?
- Why you should invest with a broker on the Nasdaq 100?
- Our recommended Nas100 brokers for Kenyan Beginner Traders.
- How to compare INDEXNASDAQ: NDX forex trading brokers against each other.
- How and can I trade on the Nas100?
- Which brokers offer a sign-up bonus on the NDX100 index?
- Which Nas100 brokers offer low minimum deposits?
And lots more…
So if you’re ready to go “all in” with the best-tested Nasdaq 100 forex brokers for Kenyans…
Let’s dive right in…
- Louis Schoeman
Best NASDAQ 100 Brokers in Kenya
| 🥇 Broker | ✔️ Nasdaq100 Broker? | 💰 Minimum Deposit | 💸 Bonuses for Kenyan traders? | 👉 Open Account |
| 1. eToro | ✔️ Yes | $100 (11 635 KES) | No | 👉 Open Account |
| 2. Plus500 | ✔️ Yes | $10 (1,100 KES) | No | 👉 Open Account |
| 3. Exness | ✔️ Yes | $100 (11 635,00 KES) | No | 👉 Open Account |
| 4. AvaTrade | ✔️ Yes | $100 (11 635,00 KES) | No | 👉 Open Account |
| 5. Pepperstone | ✔️ Yes | $5 (570 KES) | Yes | 👉 Open Account |
| 6. XTB | ✔️ Yes | 0 KES | No | 👉 Open Account |
| 7. HF Markets | ✔️ Yes | $5 (580 KES) | Yes | 👉 Open Account |
| 8. IG | ✔️ Yes | $250 (28,700 KES) | No | 👉 Open Account |
| 9. Interactive Brokers | ✔️ Yes | 0 KES | Yes | 👉 Open Account |
| 10. CMC Markets | ✔️ Yes | 0 KES | No | 👉 Open Account |
10 Best NASDAQ 100 Brokers in Kenya (Updated 2023)
- eToro – Overall, Best NASDAQ 100 Broker in Kenya
- Plus500 – Most User-Friendly Sign-Up Bonus Broker
- Exness – Trustworthy Kenyan Shilling Account
- AvaTrade – Best NASDAQ 100 Broker for Beginner Traders
- Pepperstone – Top NDD Forex Broker in Kenya
- XTB – Verified STP Forex Broker
- HF Markets – Best MetaTrader4/MT4 Broker
- IG – Top CFD Broker in Kenya
- Interactive Brokers – Best Low Minimum Deposit Broker
- CMC Markets – Verified ECN STP Broker in Kenya
What is NASDAQ 100?
👉 The 100 biggest non-financial firms traded on the NASDAQ stock exchange make up the Nasdaq 100 Index. Each stock’s impact on the index is proportional to its market capitalization, thus larger stocks have a greater say in the index’s composition.
1. 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.
👉 Access to over 3,000 financial assets, including equities and shares, ETFs, cryptocurrencies, CFDs, commodities, and currencies, is available via the multi-asset brokerage eToro UK.
👉 Because it enables you to invest in a broad range of assets and manage them all in one location, eToro is now one of the top trading platforms in Kenya.
👉 Kenyan traders can buy any given CFDs on US indices on the eToro platform. However, while most trading instruments on eToro are commission-free, this advantage does not apply to CFDs on shares.
👉 The CopyPortfolio tool on eToro lets you track the financial activity of successful traders on the site and instantly imitate their investment decisions.
👉 Kenyans could choose up to 100 traders at once to copy. However, if you are not interested in CFDs, be careful to examine a portfolio’s components before duplicating them since CopyPortfolios sometimes incorporate them.
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 and Cons
| ✔️ Pros | ❌ Cons |
| eToro is a well-established platform that is well-regulated in several regions | Forex and CFD trading is slightly more expensive than competitors |
| eToro is known for its unique, comprehensive, and robust social trading capabilities | There is a lack of research materials and tools |
| The broker has multiple Tier-1 regulations which make it a highly trusted, low-risk broker | Automated trading strategies are not allowed |
| It offers Kenyans a user-friendly trading platform for web and mobile use | There is no KES-denominated account |
| There is a large range of markets offered | There is only one retail account and one trading platform offered |
| There are VIP perks for eToro club members | |
| eToro has a comprehensive and highly rewarding affiliate program | |
| eToro offers commission-free trades |
2. 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
👉 Plus500 is an online trading platform that offers services for trading CFDs (contracts for difference) across a wide range of asset classes and more than 2,000 different securities.
👉 Since June of 2018, Plus500 has been a publicly traded company on the London Stock Exchange and is included in the FTSE 250 Index.
👉 The policy of the Plus500 online trading platform, which was modelled after the client money regulations in the UK, provides an additional layer of protection against fraudulent activity. Client monies are always held in a separate account from company funds.
👉 There are no hidden commissions or other fees for trades made by customers; everything is covered in the instrument spread.
👉 Plus500’s spread does not change in response to the number of transactions, although the company does provide a volume discount to encourage regular participation.
👉 Retail traders using the Plus500 trading platform may take advantage of a plethora of advantageous asset selection possibilities afforded by micro-capital management activities.
👉 Plus500’s various international branches provide a broad variety of trading opportunities, and each may be accessed via separate portfolios.
👉 Plus500 provides a platform for Foreign Exchange (Forex) trading with access to more than 50 currency pairings, allowing traders to easily manage currency-only portfolios. Index CFDs provide Kenyan investors with a diversification option that is just as efficient as the choice of equities CFDs.
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 and Cons
| ✔️ 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 |
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
👉 In 2008, Exness was established and received a license for the MetaTrader 4 platform from MetaQuotes Software Corp. the same year.
👉 For its customers’ trading convenience, Exness offers a reliable platform based on MetaTrader. Options for traders include MetaTrader 4 and MetaTrader 5.
👉 MetaTrader 4 Multiterminal is ideal for professional traders that need to monitor many accounts at once. Exness is a trustworthy option because of their in-house news department, in addition to the many payment methods they provide.
👉 While Exness only offers 278 tradable instruments and a limited range of financial markets, Kenyan traders can trade NASDAQ 100 through this broker.
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 | 5 USD or 580 KES |
| ✅ Tradable Assets | Forex, Metals, Crypto, Energies, Indices, Stocks |
| 📉 Minimum spread | From 0.0 pips EUR/USD |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
Pros and Cons
| ✔️ 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 |
4. AvaTrade
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 11560 KES
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 If you want to study and develop your abilities with no risk, AvaTrade has a demo account and some of the greatest forex trading lessons available.
👉 AvaTrade, founded in 2006 and headquartered in Dublin, is a multi-award-winning foreign exchange (FX) broker that serves customers in over 150 countries across the globe (excluding the United States).
👉 AvaTrade’s selection of FX and CFDs is extensive. This broker’s best feature is its wealth of educational materials. AvaTrade’s educational resources include a broad variety of subjects relevant to foreign exchange trading and general investment.
👉 Although AvaTrade does provide training videos for its trading platform, the company also maintains a YouTube channel that is filled with professionally made instructional and promotional videos.
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 and Cons
| ✔️ 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. |
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
👉 Pepperstone is a global online broker that offers services in foreign exchange (FX), spread betting, and CFDs (contracts for difference).
👉 Kenyan traders who decide to use Pepperstone have access to CFD trading on foreign exchange, equities, indices, cryptocurrencies, commodities, and currency indices.
👉 Pepperstone’s strong all-around service is complemented by its affordable costs and a variety of copy trading platforms. When compared to other online forex brokers, Pepperstone is among the largest, processing $12 billion in daily deals with ease.
👉 Because Pepperstone is a No Dealing Desk (NDD) broker, its customers have unfettered access to the most competitive foreign currency rates available.
👉 Since these are the rates used by banks in their transactions with one another, they should provide better pricing to traders and do away with any potential conflicts of interest between the broker and its clients.
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 and Cons
| ✔️ Pros | ❌ Cons |
| Pepperstone Markets is well-regulated in Kenya and several other regions in the world | There is no dedicated KES-denominated trading account for Kenyan traders |
| Pepperstone Markets is one of the largest CFD and forex brokers and offers client fund security and investor protection | Fixed spreads are not offered |
| Kenyan traders are accommodated and provided with local deposit and withdrawal options | There are additional fees charged on the Islamic Account |
| There are competitive trading conditions offered on trading accounts | There are regional restrictions applied to the Islamic account and traders must provide proof of their residency before their account conversion is approved |
| There is a selection of trading platforms across devices | There are leverage restrictions per region |
| Social trading opportunities are provided | |
| Negative balance protection is offered on retail accounts | |
| There is a comprehensive affiliate program offered |
6. XTB
👉 To conform to new Polish rules, X-Trade, which had been founded in 2002 as Poland’s first leveraged foreign exchange trading company, changed its name to X-Trade Brokers in 2004.
👉 In 2016, it became public on the Warsaw Stock Exchange under the ticker code XTB after having been known as XTB Online Trading (XTB) since 2009.
👉 XTB is a web-based broker that gives its clients access to a CFD trading platform. In addition to forex, XTB offers CFDs on a wide variety of indices, commodities, equities, exchange-traded funds (ETFs), and cryptocurrencies.
👉 To this day, xStation 5 remains XTB’s primary web-based platform. The whole of XTB’s online offering to customers consists of this, the ubiquitous MT4 (downloadable) platform, and a working mobile application.
👉 Although XTB’s ancillary fees were about the same as the industry average, the firm’s continuously reduced spreads set it apart. Investopedia’s rating system took this into account when determining that XTB is a good option for traders on a budget.
Features
| Features | Information |
| ⚖️ Regulation | FCA, CySEC, KNF, CNMV, FSC, DFSA |
| 💻 Demo Account | Yes |
| ✔️ CMA Regulation? | No |
| 📊 Nasdaq Spreads | From 1.25 pips |
| 💵 Commissions per trade | None |
| 📈 Leverage | 1:500 |
| 💸 Minimum Deposit | 0 KES |
| ✅ Overall Trust Score | 95% |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| XTB offers exceptionally low spreads on major financial instruments | There are no guaranteed stops offered |
| XTB is well-regulated and offers client protection | There are no back-testing or auto-trading options |
| There is a client-focussed approach and Kenyans can expect dedicated customer support | |
| There are several educational tools offered on the XTB platform |
7. 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
👉 HF Markets is a CMA-regulated forex and CFD broker that has been operating since 2010. Numerous accolades have been bestowed upon HF Markets throughout the years, and the company takes great satisfaction in this achievement.
👉 Many different goods are accessible to trade on HF Markets, more than enough for every individual investor. When compared to other brokers on the market, HF Markets’ trading conditions are both very affordable and incredibly competitive.
👉 Trading products provided by HF Markets include contracts for difference (CFDs) on currency pairs (including many majors, minors, and exotic pairs), spot metals like Gold and Silver, energies like crude oil and natural gas, commodities, and well-known cryptocurrencies.
👉 As an NDD broker, HF Markets processes investor orders directly to the interbank market through an electronic communication network (ECN) and straight through processing (STP).
Features
| 💳 Minimum Deposit (KES) | 592 KES ($5) |
| 📊 Spreads | 1 pip EUR/USD |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5 |
| 💰 Trading Instruments | All |
| ✴️ Execution | Market Execution |
| 📈 Maximum Leverage Ratio | 1:1000 |
| 📉 Minimum Trade Size | 0.01 lot |
| ⬆️ Maximum Trade Size | 7 Standard Lots (100,000 base currency) |
| 📊 Maximum Open Orders | 150 (Simultaneous) |
| 📞 Margin Call (%) | 40 |
| 🛑 Stop-Out (%) | 10 |
| 💳 Account Base Currency | USD, ZAR |
| 👨💼 Personal Account Manager | Yes |
| ⚖️ Commission Charges | None |
| 🔎 Bonuses Offered | Flexible bonus offering |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Well-regulated CFD and Forex broker that has a decent trust score | United States clients and some other regions are not accepted by HotForex |
| The spreads offered are low and competitive | There may be restricted leverage for EU clients because of regulatory requirements |
| There are several account types to choose from with reasonable trading fees charged | There are no variable spread accounts offered |
| HotForex welcomes all types of traders and trading strategies | Limited funding options offered for deposits and withdrawals |
| There is a low minimum deposit requirement and secure methods for deposits and withdrawals | |
| Suited to beginner traders and experienced traders | |
| Offers comprehensive expert trading and market analysis | |
| Offers a decent selection of educational tools and a range of trading tools |
8. 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
👉 IG Group Holdings Plc is a publicly listed corporation that trades on the London Stock Exchange (LSE) under the symbol “IGG.” IG Group (IG), which was created in 1974 by Stuart Wheeler, is a subsidiary of IG Group Holdings Plc.
👉 Trading in derivatives and direct markets access (DMA) are both services that IG Provides and Kenyans have access to over 19,000 different worldwide marketplaces including CFDs, shares, and options, to only name a few.
👉 Kenyans can also benefit from IG’s weekend trading service to place orders on a few different instruments throughout the weekend.
👉 A separate account is required for trading shares with IG Markets. It is possible to open either a CFD account or a share dealing account when applying for a real-money trading account.
👉 When using the IG share dealing account, no leverage is used when purchasing or selling stocks or ETFs. No leverage implies no danger of having your account closed, so you may proceed with confidence.
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 and Cons
| ✔️ 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 |
9. Interactive Brokers
👉 Customers in Kenya may use a single Interactive Brokers account to buy and sell stocks, options, futures, currencies, bonds, and mutual funds.
👉 More than 200 nations and territories are represented among the company’s clientele, and it facilitates trading on 150 marketplaces in 33 countries and 23 different currencies.
👉 Furthermore, Interactive Brokers provides an innovative trading platform with top-notch trading tools and fast, accurate order execution. These advanced capabilities provide investors with an edge when setting up bets across markets and asset classes.
Features
| Features | Information |
| ⚖️ Regulation | FINRA, IIROC, FCA, CSSF, CBI, MNB, ASIC, SFC, MAS |
| 💻 Demo Account | Yes |
| 📈 CMA Regulation? | No |
| 📊 Nasdaq Spreads | From 0.6 pips |
| 💸 Commissions per trade | 0.05% on CFDs |
| 📉 Leverage | 1:400 (ASIC Regulations) |
| 💵 Minimum Deposit | 0 KES |
| 🥇 Overall Trust Score | 99% |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| When it comes to market coverage and asset selection, Interactive Brokers is without peer | New traders may feel overwhelmed with TWS, Interactive Brokers’ preferred platform for international trade |
| For extensive customization and power, Trader Workstation (TWS) is an excellent choice | The tiered price structure of Interactive Brokers might be difficult to understand |
| Advantages of having instantaneous access to markets all around the globe Always and forever |
10. CMC Markets
👉 Established in 1989 initially as a spread betting broker, CMC Markets has grown to become one of the most trusted CFD, forex, and spread betting brokers in the industry.
👉 CMC Markets is subject to regulation in several jurisdictions across the world. CMC Markets is a publicly-traded company on the London Stock Exchange (LSE: CMCX) that specializes in CFD trading across several financial markets.
👉 Kenyan traders who are looking to further their skills and overall trading knowledge will find that CMC Markets features a plethora of great articles, guides, and analyses to assist traders despite their level of experience or trading styles.
👉 In addition to premium charting tools, live news from Reuters, a market calendar, and quantitative analysis, the firm provides a custom trading platform built just for its clients. To practice with virtual funds, CMC allows you to sign up for an account and keep it active forever.
👉 B2B services, including liquidity solutions and API pricing, are provided on the platform for institutional customers.
Features
| Features | Information |
| ⚖️ Regulation | BaFin, FCA, IIROC, ASIC, MAS, FMA |
| 💻 Demo Account | Yes |
| 📈 CMA Regulation? | No |
| 📊 Nasdaq Spreads | 1 pip |
| 💸 Commissions per trade | None |
| 📉 Leverage | 1:30 |
| 💵 Minimum Deposit | 0 KES |
| 🥇 Overall Trust Score | 99% |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| CMC Markets offers a wide range of assets that can be traded | CMC Markets only offers CFD trading |
| Kenyan beginners can expect an excellent suite of educational materials | |
| Advanced traders are given access to the best research tools | |
| CMC Markets is ideal for beginners and advanced CFD traders |
How to choose the right Nasdaq 100 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.
Determine and Evaluate Your Needs
👉 If ever there were a situation where knowledge was power, it would be in the realm of investment. Knowing what to do and when to do it might be the difference between a portfolio that falls short and one that positions you for long-term success.
👉 In this scenario, picking the correct broker is crucial. There are many more considerations when assessing brokers, despite the proliferation of internet platforms advertising cheap cost and convenience of use.
👉 If you are just starting in the investing world, you could benefit from some guidance and instruction. Your broker may provide online courses and video lectures, or they could host in-person seminars at their office.
👉 Choose a broker who provides this service if you need it. Those who trade often and aggressively should look for a broker who can accommodate their needs and provide them with the resources they need to be successful.
👉 Tools for analysis, risk management, metrics, individualized work environments, and affordable fees and commissions are all part of this.
Evaluate the Depth of Technology that the Broker offers
👉 The technological sophistication of an online broker is a crucial factor to consider for investors. Accessing your account status in real-time on a trading platform gives you the agility to respond to changes in the market and the economy.
👉 In addition to trading stocks, options, futures, bonds, and funds across many global markets from a single integrated account, you should also be able to have unrestricted access to powerful trading tools and insights via a user-configurable investment dashboard.
👉 In addition, you should be able to check your investment portfolio’s status, available money for trading, and account balances from any computer or mobile device using the program.
👉 Real-time notifications based on price, time, or margin must be available so that users may track market movements in real-time.
👉 Kenyans who trade on margin must have access to concise reports of their accounts that highlight any potential problems since this is a powerful tool for preventing unnecessary liquidations.
👉 In addition, a profit and loss screen is helpful since it shows investors an overview of their financial position.
Understand and Evaluate the overall Value of Investment Integration
👉 An integrated investing strategy is another option that should be made available to clients by a good broker.
👉 This involves doing all financial transactions (buying, selling, collecting interest on inactive funds, borrowing, and spending) from a single account, rather than having to visit many financial institutions.
👉 Well-informed financial choices can be made when investing is considered in the context of the Kenyan trader or investor’s additional financial activities, such as saving, spending, and paying bills.
Make sure that you have access to detailed Market Insights and Information
👉 Investors in today’s markets want rapid and reliable data to make profitable trades. Good Nasdaq 100 brokers provide you instantaneous access to in-depth market data, research reports, and news.
👉 Traders in Kenya need a centralized location where they can go to get the latest news from Reuters and Dow Jones and top-notch analyst research reports from reputable sources.
👉 Investors now have access to a wealth of information, including market data on exchanges and critical financial information on hundreds of firms from reputable sources. But it is also true that most investors may gain knowledge through more study.
👉 Traders in Kenya should seek brokers that have a Traders’ Academy or instructional component on their website, where they may access on-demand videos, webinars, and courses that teach asset classes, markets, currencies, and the broker’s trading software.
👉 Investors could make better investment choices and progress toward their financial objectives when they have access to this sort of help, in addition to a powerful trading platform, timely market knowledge, and a wide range of products.
The Best CFD Trading Brokers in Kenya
👉 In this article, we have listed the best CFD brokers which offer Nasdaq 100 and CFD trading to traders in Kenya. We have further identified the CFD brokers that offer additional services and solutions to Kenyan traders.
Best MetaTrader 4 / MT4 CFD Broker in Kenya
👉 Overall, FxPro is the best MT4 CFD broker in Kenya. FxPro is a premier MetaTrader 4 broker that offers several account types and trade execution options. FxPro provides 400 CFDs, educational materials, and analytical tools.
Best MetaTrader 5 / MT5 CFD Broker in Kenya
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 11660 KES
Regulators
CySec, FSC, FSA, BaFin, NFA
Trading Desk
MetaTrader 4 , MetaTrader 5
Crypto
Yes
Total Pairs
50 Forex Pairs and 20 Crypto Pairs
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, BDSwiss is the best MetaTrader 5 CFD broker in Kenya. BDSwiss’ MT5 platform does not limit trading approaches while trading several asset classes. BDSwiss’ MT5 trading tools, research, and education programs may help traders of all skill levels.
Best CFD Broker for beginners in Kenya
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
👉 Overall, AvaTrade is the best CFD broker for beginners in Kenya. AvaTrade offers 1,260 financial products including AvaTradeGO. AvaTrade and AvaTradeGO equip traders with great instructional materials and research tools.
Best Low Minimum Deposit CFD Broker in Kenya
Overall Rating
- 4.7/5
Min Deposit
USD 1 / 116 KES
Regulators
IFSC, FSCA (South africa), ASIC, CySEC
Trading Desk
MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Welcome Bonus
$140 (16 373 KESFind out More)
Account Activation Time
24 Hours
👉 Overall, FBS is the best Low Minimum Deposit CFD Broker in Kenya. FBS’s minimum account deposit is 110 KES. FBS gives traders customized accounts for their trading habits and goals.
Best ECN CFD Broker in Kenya
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 11615 KES
Regulators
CySEC, FCA
Trading Desk
–
Crypto
Yes
Total Pairs
50
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, FOREX.com is the best ECN CFD broker in Kenya. FOREX.com provides a variety of tradable products. FOREX.com provides more than 90 currency pairs on its ECN trading platform.
Best Islamic / Swap-Free CFD Broker in Kenya
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.
👉 Overall, eToro is the best Islamic / Swap-Free CFD broker in Kenya. eToro gives Muslim traders an Islamic account. This account has no admin or swap fees and 1 pip spreads.
Best CFD Trading App in Kenya
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
👉 Overall, IG is the best CFD trading app in Kenya. IG Trading is IG’s best mobile app that features custom alerts, sentiment analysis, and sophisticated charting.
Best Kenyan Shilling Trading Account CFD Broker in Kenya
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
👉 Overall, Exness is the best Kenyan Shilling trading account CFD broker in Kenya. Exness offers a restricted variety of tradable financial products in a KES-denominated account. Exness offers reasonable commissions and zero-pip spreads.
Best Lowest Spread CFD Broker in Kenya
Overall Rating
- 4.6/5
Min Deposit
USD 5 / 578 KES
Regulators
FCA UK
Trading Platform
MT5, MT4, OctaTrader
Crypto
Yes
Total Pairs
28
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, OctaFX is the best lowest spread CFD broker in Kenya. OctaFX has zero-pip spreads on certain accounts. OctaFX offers Kenyan traders a choice between dynamic accounts and trading platforms.
Best NDD Forex Broker in Kenya
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
👉 Overall, Pepperstone is the best NDD forex broker in Kenya. Pepperstone is a famous NDD Forex broker that offers traders several useful tools. Pepperstone supports several trading methods and offers a choice between three powerful trading platforms.
Best STP Forex Broker in Kenya
👉 Overall, XTB is the best STP forex broker in Kenya. XTB has won several awards for its trading solutions and conditions. XTB is an STP broker with competitive pricing and sophisticated trading tools.
Best Sign-up Bonus Broker in Kenya
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
👉 Overall, Tickmill is the best sign-up bonus broker in Kenya. Tickmill gives new customers $30 to trade in financial markets upon registration. Traders must deposit 11,500 KES into a Live MT4 account to withdraw their profits made on this bonus.
Factors that Drive the Nasdaq 100 Index
👉 To find the optimum moments to buy and sell NASDAQ 100 and similar securities, you need to be aware of the variables that may alter the value of the index over time.
Historical Performance
👉 Robust growth in the NASDAQ 100 Index over the long term may have a significant impact on investor confidence.
👉 Keep in mind that there is no assurance that your investment results will mirror those of the past. The index’s impressive growth over the years is no reason to put money into it or engage in trading.
👉 Remember that you should always do your research and understand that there is risk involved in any investment.
The Performance of Listed Companies
👉 Since the index is weighted according to the market capitalization of its component companies, its direction is determined by the performance of the individual stocks, especially those with the largest weights.
👉 The value of the NASDAQ 100 will be impacted if major components of the index, such as Apple (AAPL), Microsoft (MSFT), or Alphabet (GOOGL), see significant stock price changes.
👉 Nonetheless, the impact of a single company’s share price may be outweighed if the rest of the companies in the index moved dramatically in the other direction.
Trade Disputes and Wars
👉 The value of the index may be impacted when nations engage in trade conflicts that limit the markets to which a company’s products or services can be offered.
👉 In 2018, for example, the NASDAQ 100 lost over 4%, its lowest performance since 2008. This was due in part to the trade war between the US and China, which impacted the operations of numerous corporations.
The Overall Economic Landscape
👉 The stock market mood might be affected by major economic events including recessions, fast increases in activity, and shifts in monetary policy.
👉 For instance, the NASDAQ 100 fell by 40.5% in 2008 due to the global recession’s effect on demand for goods and services given by firms on the index.
👉 The index has fallen in 2023 due to negative investor sentiment and central banks’ strategies of quickly increasing interest rates to battle excessive inflation.
Social and Political Events Around the World
👉 The value of the NASDAQ Index is affected by investor mood, which in turn is affected by major global events.
👉 Though the index fell by 40% at the start of 2020 due to lockdowns and people working from home because of the Covid-19 epidemic, it recovered by 43.6% by the conclusion of the year.
👉 Attributable to factors including Russia’s invasion of Ukraine, the index is down more than 20% year-to-date (YTD) since June 3rd.
Conclusion
👉 Fundamental and technical analyses are used to gauge entry points in Nasdaq trades. Even though many CFD brokers now provide clients with access to the Nasdaq 100 Index, we believe that the brokers we have selected provide the optimal trading environment for Kenyan investors.
FAQ
What is the best time to trade Nasdaq 100?
One of the finest times of day to trade is between 9h30 and 10h30 am Eastern Time (ET) when large price swings could occur quickly.
Is Nasdaq 100 a worthwhile investment?
Yes, Nasdaq is a worthwhile investment even though it has fallen 28% from its all-time high in December 2021, and it has dropped 20% in the previous six months. Returns over three years are lower, at 21%, but returns over five years are higher, at 20%.
How much is needed to trade Nasdaq?
The minimum deposit required by some of the larger futures brokers may be as high as $10,000, while smaller brokers often accept deposits as little as $500.
How does NASDAQ trading work?
Traders place orders with their broker-dealers electronically, and the NASDAQ system receives these orders from hundreds of computers. The NASDAQ’s matching engine is a single, extremely trustworthy computer, where the transactions are processed.
How do you read the Nasdaq Index?
The closing price of the stock is shown by the horizontal bar that represents the day’s trading range. Daily high prices are shown at the top of the vertical line. The lowest price of the day is shown at the bottom of the vertical line.
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.
