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7 Best NDD Forex Brokers in Kenya

The 7 Best NDD Forex Brokers for Kenyan Traders were revealed. We tested and verified the best NDD Forex Brokers for Kenyan Traders.

This is a complete list of forex brokers with NDD Forex Brokers in Kenya.

In this in-depth guide you’ll learn:

  • What are the No Dealing Desk (NDD) brokers? 
  • Why traders in Kenya should sign up with an NDD broker?
  • Who is the best forex broker with a Kenyan Shilling trading account
  • Which NDD brokers have local offices in Kenya
  • Which is the #1 Best low bandwidth trading app for Kenyans? 
  • How to choose a forex broker – Compare them side by side by minimum deposit, KES-based accounts, and much more.
  • Which brokers offer a low minimum deposit of $5 (583 KES) to Kenyan Traders?
  • Which traders offer a sign-up bonus for first-time traders?

 

And lots more…

So if you’re ready to go “all in” with the best-tested NDD forex brokers for Kenyans…

Let’s dive right in…

Updated : August 31, 2022

Best NDD Forex Brokers in Kenya (Updated 2022)

🥇 Broker✔️ NDD Broker?💰 Minimum Deposit?💸 Kenyan Shilling (KES) Deposits Allowed?👉 Open Account
1. HF MarketsYes5 USD (580 KES)Yes👉 Open Account
2. AvaTradeYes$100 (11 635 KES)Yes👉 Open Account
3. ExnessYes1 USD (116 KES)Yes👉 Open Account
4. PepperstoneYes150 USD (17 506 KES)Yes👉 Open Account
5. FP MarketsYes80 USD (8700 KES)Yes👉 Open Account
6. BD SwissYes100 USD (11 668 KES)Yes👉 Open Account
7. AxioryYes$10 (1 167 KES)Yes👉 Open Account

7 Best NDD Forex Brokers in Kenya (Updated 2022)

  1. HF Markets – Overall, Best NDD Broker in Kenya
  2. AvaTrade – Top Volatility75/VIX75 Forex Broker
  3. Exness – User-Friendly NDD MetaTrader4/MT4 Broker
  4. Pepperstone – Verified ECN Forex Broker in Kenya
  5. FP Markets – Best NDD Minimum Deposit Forex Broker
  6. BD Swiss – Top Beginner Forex Broker in Kenya
  7. Axiory – Best NDD MetaTrader5/MT5 Forex Broker

What are NDD forex brokers?

👉 NDD forex brokers describe a trading platform offered by a forex broker that provides unfiltered access to interbank market rates of exchange. Customers of NDD brokers trade directly with interbank rates. Having direct access to interbank rates could be beneficial to traders and gives the trader the peace of mind that their broker is not conflicted by their trades in any way.

1. HF Markets

Overall Rating

Min Deposit

USD 5 / 578 KES

Regulators

CySEC, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on HFM (Formerly Known as Hotforex)’s website

 

Overview

👉 HF Markets, formerly HotForex, is a low-risk NDD CFD and forex broker for Kenyan traders, receiving a 9/10 rating for trading conditions, retail investor accounts, client fund security, and customer service.

 

👉 HF Markets is regulated by a number of respected organizations, including the Kenyan Capital Markets Authority (CMA), which recently gave HFM Investments Limited, a subsidiary of the brokerage firm, a license.

 

👉 HF Markets is a proud MetaTrader broker, offering MetaTrader 4 and MetaTrader 5 trading platforms. Retail investor accounts at HF Markets are suitable for both rookie and experienced traders, as well as professional traders looking for a competitive edge.

👉 To accommodate traders with varied trading styles, trading talents, and investment objectives, each retail trading account has its own set of features and trading conditions.

 

Unique Features

FeatureInformation
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
📱 Social Media Platforms• Facebook
• Twitter
• Telegram
• Instagram
• YouTube
• LinkedIn
💻 Trading AccountsMicro Account, Premium Account, HF copy Account, Zero Spread Account, Auto Account
📊 Trading PlatformMetaTrader 4 and MetaTrader 5
💰 Minimum Deposit5 USD or 580 KES
💵 Trading AssetsForex, 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 spreadFrom 0.0 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
Tight, competitive spreads from 0.0 pips on EUR/USD are offeredHF 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%.

2. AvaTrade

Overall Rating

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 was founded in 2006 as a global NDD CFD and FX broker. Dublin is the company’s administrative headquarters, but it also maintains sales offices in Paris, Milan, Sydney, Tokyo, Madrid, Mongolia, Beijing, Kenya, Santiago, and Johannesburg.

 

👉 Financial regulators in Europe, the British Virgin Islands, Australia, Japan, and South Africa supervise AvaTrade. The company’s AvaTradeGO app may be utilized anytime, anywhere, and offers an easy-to-use design and additional capabilities for traders to employ to fulfill their own criteria.

 

👉 AvaTrade’s customer-centric approach and solid financial backing distinguish it as a standout service in the risky realm of internet trading. The company’s diverse platform and service offerings, as well as its 24-hour, multilingual helplines, enable every level of the trader to perform at their best. Forex, equities, commodities, indices, and more trading choices are available at AvaTrade.

 

👉 AvaTrade is a trusted and highly recommended broker for Kenyan traders who want to trade on the global financial markets, despite the fact that the Capital Markets Authority (CMA) in Kenya has not licensed or regulated the broker and the broker does not have a local office in Nairobi.

 

Unique features

FeatureInformation
⚖️ RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC
📱 Social Media Platforms• Twitter
• Instagram
• Facebook
• YouTube
💻 Trading AccountsStandard and Options accounts
📊 Trading Platform• AvaTradeGO
• AvaOptions
• AvaSocial
• MetaTrader 4
• MetaTrader 5
• DupliTrade
• ZuluTrade
💰 Minimum DepositEquivalent to $100 – 11635,00 KES
✅ Tradable Assets• Forex
• Metals
• Crypto
• Energies
• Indices
• Stocks
💵 Trading AssetsEquivalent to $100 – 11635,00 KES
📉 Minimum spreadFrom 0.9 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ 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%.

3. Exness

Overall Rating

Min Deposit

USD 10 / 1156 KES

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on Exness’s website

 

Overview

👉 Exness is a low-risk NDD CFD and Forex broker that is regulated and authorized by several authorities.

 

👉 Exness now offers over 200 financial products, a variety of retail account types, and a plethora of information to traders. Exness is one of Kenya’s most popular brokers, despite the fact that it is not yet regulated by the Capital Markets Authority (CMA).

 

👉 The website of the Exness Group is available in 18 languages, and customer service is offered in 13 languages. Seven days a week, 24 hours a day.

 

👉 Furthermore, customers have access to leverage, which can significantly reduce margin requirements and allow for more flexible trading strategy management. Exness also offers traders the ability to withdraw cash instantly through a variety of electronic payment channels, giving them complete control over their funds.

 

Unique Features

FeatureInformation
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
📱 Social Media Platforms• Facebook
• Twitter
• Instagram
• LinkedIn
• YouTube
💻 Trading AccountsStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app
💰 Minimum Deposit1 USD (116 KES)
✅ Tradable AssetsForex, Metals, Crypto, Energies, Indices, Stocks
📉 Minimum spreadFrom 0.0 pips EUR/USD
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
Exness is well-regulated and keeps all client funds in segregated accounts with top-tier institutionsExness offers a limited number of payment methods for deposits and withdrawals
Traders can choose between several retail investor accountsExness 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. Pepperstone

Overall Rating

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, Pepperstone Markets is a prominent NDD CFD, and forex broker based in Kenya while the Pepperstone group is based in Australia.

 

👉 Pepperstone Markets is a multi-location broker that adheres to tight rules with offices based around the world, including in Nairobi, Kenya. In Kenya, the Capital Markets Authority (CMA). has granted Pepperstone Markets Kenya Limited a license to operate.

 

👉 Pepperstone is noted for its outstanding customer service and wide range of third-party platforms. The research offers are above average for the business, but the small number of tradeable things is a minor flaw.

 

👉 Pepperstone Markets can fill multiple orders at once, allowing them to send larger orders into a liquidity aggregator on various tiers. Client orders are filled without requotes, with the possibility of positive or negative slippage, and without broker intervention on a “market execution” basis.

 

Unique Features

FeatureInformation
⚖️ RegulationASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB
📱 Social Media Platforms• Facebook
• Twitter
• Instagram
• LinkedIn
• YouTube
💻 Trading AccountsStandard account, Razor Account, Professional Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade
💰 Minimum Deposit150 USD
✅ Trading Assets• Forex
• Cryptocurrencies
• Shares
• ETFs
• Indices
• Commodities
• Currency Indices
✔️ Kenyan Naira-Based AccountNo
💳 Bonuses for Kenyan traders?No
📉 Minimum spreadfrom 0.0 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
Pepperstone caters for traders of all trading experience or styleLeverage restrictions apply
Pepperstone is a multi-regulated and multi-award-winning brokerAdditional 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.

5. FP Markets

Overall Rating

Min Deposit

USD 100 / 11560 KES

Regulators

ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

60

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 FP Markets excels as a MetaTrader platform-based broker when it comes to low-cost NDD Forex and CFD trading. On the trading platform suite, there are over 8,000 items available for trading, and with MetaTrader, FP Markets is one of the most cost-effective brokers available to traders all over the world.

 

👉 The Capital Markets Authority (CMA) in Kenya does not regulate FP Markets, but the ASIC and CySEC do, allowing the broker to provide cross-border services all over the world.

 

👉 VPS hosting for automated trading solutions, copy trading via the MT4 Myfxbook service, and retail account management via the MT4 MAM/PAMM module are just a few of the value-added services offered by FP Markets.

 

👉 The most recent development of FP Markets’ in-house social trading service exposed the company to a surge in demand from retail traders for this type of trading. Investing in social trading shows savvy management and a broker that is always striving to deliver the best services to its clients.

 

Unique Features

FeatureInformation
⚖️ RegulationASIC, CySEC
📱 Social Media Platforms• Instagram
• Facebook
• Twitter
• YouTube
💻 Trading AccountsRetail Account, Professional Account
📊 Trading PlatformMT4/5 Standard Account, MT4/5 Raw Account, MT4/5 Islamic Standard Account, MT4/5 Islamic Raw Account
💰 Minimum Deposit8700 KES or 80 USD
✅ Trading Assets• Forex
• Shares
• Metals
• Commodities
• Indices
• Cryptocurrencies
• Bonds
✔️ Kenyan Shilling-Based AccountNo
💵 KES Deposits Allowed?No
💳 Bonuses for Kenyan traders?No
📉 Minimum spread0.1 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
FP Markets is a well-regulated brokerAdministration fees charged on the Islamic Account
A dedicated Islamic account option are offered to Muslim tradersNo fixed spread accounts offered
A wide range of markets can be traded across asset classesWithdrawal 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.

6. BD Swiss

Overall Rating

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

 

Overview

👉 BDSwiss is considered to be a low-risk company, as evidenced by its overall Trust Score of 83%.

 

👉 There are four types of retail trading accounts offered by BDSwiss, including a Classic Account, Premium Account, VIP Account, and a RAW Trading Account.

 

👉 BDSwiss has established itself as a respectable and well-regulated broker with a significant international clientele since its founding in 2012. Forex, commodities, equities, indices, and several cryptocurrencies are all available for trading, which is significantly more than most other brokers.

 

Unique Features

FeatureInformation
⚖️ RegulationCySEC, FSC, BaFIN, FSA
📱 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• Instagram
• YouTube
• Blog
• Telegram
💻 Trading Accounts• Classic Account
• Premium Account
• VIP Account
• RAW Account
📊 Trading Platform• MetaTrader 4
• MetaTrader 5
• BDSwiss Mobile
• BDSwiss Web
• cTrader
💰 Minimum Deposit$100
✅ Trading Assets• Forex
• Commodities
• Shares
• Indices
• Cryptocurrencies
✔️ Kenyan Shilling-based Account?No
💰 KES Deposits Allowed?No, only USD, GBP, EUR
📉 Minimum spreadFrom 0.3 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
BDSwiss is well-regulated and offers services to countries worldwideThere are withdrawal fees charged
BDSwiss provides CTrader as multi-asset third-party trading platform for Forex and CFD trading.The BDSwiss trading platform is not offered as a desktop application
Traders can choose from over 250 financial instruments that can be traded using powerful trading platforms
BDSwiss offers MetaTrader and its own proprietary trading platforms on Web and Mobile devices
BDSwiss has won several awards since its inception, proving that it is a reputable and reliable trading provider
Demo accounts and Islamic accounts are offered
BDSwiss caters for both beginner and professional traders

 

Trust Score and Kenyan Market Share

🥇 Trust Score of BDSwiss is 83%.

7. Axiory

Overall Rating

Min Deposit

10 USD / 1156 KES

Regulators

IFSC, MFSC and FSC

Trading Desk

MetaTrader4, MetaTrader5, CopyTrade and cTrader

Crypto

No

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 Axiory was founded in 2011 by experienced fund managers and has grown rapidly with technology at the heart of the brand.

 

👉 Overall, Axiory is one of the best NDD STP and 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.

 

👉 Axiory employs the Straight-through Processing (STP) and Electronic Communication Network (ECN) broker models. Client orders are routed directly to the interbank liquidity pool, where they are executed at the best rates and speeds available.

 

👉 Axiory is not regulated or authorized by Kenya’s Capital Markets Authority (CMA), but the broker is a trusted and reputable trading provider.

 

Unique Features

FeatureInformation
⚖️ RegulationFSC Belize, FSC Mauritius, FCA
📱 Social Media Platforms• Facebook
• Twitter
• Telegram
• Instagram
• YouTube
• LinkedIn
💻 Trading Accounts• Nano Account
• Standard Account
• Max Account
• Tera Account
• Alpha Account
📊 Trading Platform• MetaTrader 4
• MetaTrader 5
• cTrader
• Axiory CopyTrade
💰 Minimum Deposit$10 (1 167 KES)
✅ Trading Assets• Forex
• Gold and Precious • Metals
• Oil and Energies
• CFD Indices
• CFD Stocks
• Exchange Stocks
• Exchange ETFs
✔️ Kenyan Shilling-based Account?No
💵 KES Deposits Allowed?No
📉 Minimum spreadFrom 0.13 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
Axiory is multi-regulated and offers investor protection through the Financial CommissiosKenyan traders are not given the benefit of local deposit and withdrawal options
Client Funds are kept in segregated with top financial institutionsThe Kenyan shilling is not a base currency option for a trading account
Traders can choose between dynamic and flexible trading accountsHolding commissions are applied to the Islamic account
Traders can choose between robust and reliable trading platformsCryptocurrencies cannot be traded through Axiory
Both an Islamic account and a practice trading account available
Traders can use AutoChartist and a few other helpful tools
Kenyan traders can use several trading strategies
Axiory offers competitive trading conditions across all account types and financial markets

 

Trust Score and Kenyan Market Share

🥇 Axiory has a trust score of 90%.

How to choose an NDD Broker in Kenya

👉 Kenyan traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives and/or needs.

 

Regulations and Licenses

👉 This is the first important component that traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others. Kenyans must beware when dealing with brokers that only have offshore regulations such as FSA, SVG BVI, FSC, and others.

 

Account Features

👉 Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.

 

Deposits and Withdrawals

👉 Kenyans must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits among other trading and non-trading fees.

 

Range of Markets

👉 The range of markets offered refers to the number and range of tradable instruments that the broker offers. Kenyans must consider what they wish to trade and what is available.

 

Customer Support

👉 Customer Support is another crucial factor and Kenyans must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.

 

Trading Platform

👉 A trading platform is the Kenyan trader’s portal to the financial markets. Traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.

 

Education and Research

👉 Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:

➡️ eBooks

➡️ Trading guides

➡️ Trading knowledge on leveraged products

➡️ A risk warning on complex instruments

➡️ Educational videos

 

👉 Research can include some of the following:

➡️ Trading tools

➡️ Commentary

➡️ Status of International Markets

➡️ Price movements

➡️ Market sentiments

➡️ Whether there is a volatile market

➡️ Exchange Rates

➡️ Expert opinions and several other resources can help experienced traders make informed trading decisions.

The Best NDD Forex Brokers in Kenya

👉 In this article, we have listed the best Forex brokers which offer NDD forex brokers to traders in Kenya. We have further identified the forex brokers that offer additional services and solutions to Kenyan traders.

 

Best NDD MetaTrader 4 / MT4 Forex Broker in Kenya

Best NDD MetaTrader 4 / MT4 Forex Broker

👉 Overall, Exness is the best NDD MT4 forex broker 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 NDD MetaTrader 5 / MT5 Forex Broker in Kenya

Best NDD MetaTrader 5 / MT5 Forex Broker

👉 Overall, Axiory is the best NDD MT5 forex broker in Kenya. 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 NDD forex broker for beginners in Kenya

Best NDD forex broker for beginners

👉 Overall, Tickmill is the best NDD forex broker for beginners in Kenya. Tickmill’s VIP and Pro accounts also 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 NDD Minimum Deposit Forex Broker in Kenya

Best NDD Minimum Deposit Forex Broker

👉 Overall, HF Markets is the best NDD minimum deposit forex broker in Kenya. HF Markets, formerly known as HotForex, also is a low-risk CFD and forex broker that offers fair trading conditions, retail investor accounts, client fund security, and customer support.

 

Best NDD ECN Forex Broker in Kenya

Best NDD ECN Forex Broker

👉 Overall, Pepperstone is the best NDD ECN forex broker in Kenya. Pepperstone is also known for exceptional client service, research offerings, and an extensive selection of platforms.

 

Best NDD Islamic / Swap-Free Forex Broker in Kenya

Best NDD Islamic / Swap-Free Forex Broker

👉 Overall, CM Trading is the best NDD Islamic/swap-free forex 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 NDD Forex Trading App in Kenya

Best NDD Forex Trading App

👉 Overall, Trade Nation is the best NDD forex trading app 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.

 

Best NDD Lowest Spread Forex Broker in Kenya

Best NDD Lowest Spread Forex Broker

👉 Overall, FBS is the best NDD lowest spread 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 NDD Nasdaq 100 Forex Broker in Kenya

Best NDD Nasdaq 100 Forex Broker

👉 Overall, XM is the best NDD Nasdaq 100 forex broker in Kenya. XM also offers tight security, excellent customer service, account financing, and low fees.

 

Best NDD Volatility 75 / VIX 75 Forex Broker in Kenya

Best NDD Volatility 75 / VIX 75 Forex Broker

👉 Overall, AvaTrade is the best NDD Volatility 75 / VIX 75 forex broker in Kenya. 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 NDD STP Forex Broker in Kenya

Best NDD STP Forex Broker

👉 Overall, OctaFX is the best NDD STP 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 NDD sign up bonus Broker in Kenya

Best NDD sign up bonus Broker

👉 Overall, Oanda is the best NDD forex broker sign-up bonus broker 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.

Understanding how NDD forex brokers work

👉 NDD brokers provide Straight-Through Processing (STP) execution of forex trades. Forex brokers who use this system collaborate with market liquidity providers directly.

 

👉 When trading through an NDD, an investor is dealing with multiple liquidity providers rather than just one to obtain the most competitive bid and ask prices. An investor who uses this method has access to rates that are immediately executable. To make it work, they may employ electronic communication network (ECN) methods.

 

👉 The consequences of dealing directly with the interbank market are twofold: the size of currency rate spreads and the amount of extra cost to execute a trade. Traders using an NDD broker are directly exposed to the exact spread available to retail customers on the interbank market.

 

👉 NDD brokers may offer wider spreads depending on the currency pair being traded and the dealing-desk broker being compared. That means the cost of making a trade is higher (since retail traders must give up the value of the spread with each round-trip trade).

 

👉 An NDD broker may also charge an exchange fee or a commission. Because they pass the spread directly to the customer, they must charge fees in some other way or risk losing money on their services.

 

👉 An NDD broker differs from market-making brokers, who attempt to act as a middleman between customers and the interbank market in order to make trades (theoretically) faster and more efficient.

 

👉 To do so, they accept the risk that they will be able to anticipate market changes well enough to protect against market risk.

 

👉 Trading with an NDD broker may become more expensive in these two ways over time when compared to dealing-desk brokers.

Advantages of NDD forex brokers

👉 NDD forex brokers offer several advantages. These advantages include:

➡️ Traders are exposed directly to the exact spread available on the interbank market.

➡️ Traders deal with numerous providers to get the most competitive bid and ask prices.

➡️ A trader using this method has access to instantly executable rates.

➡️ NDD brokers offer an extra layer of privacy.

➡️ NDD accounts are more reliable when the market is extremely volatile.

Disadvantages of NDD forex brokers

👉 NDD forex brokers also have some drawbacks of traders in Kenya should take note of in order to mitigate their risk of losses:

➡️ An NDD broker may charge an exchange fee or a commission. Because they are passing the spread directly through to the customer, they have to charge fees some other way to make money for their services.

➡️ Trading with an NDD broker may become more expensive over time in comparison to dealing-desk brokers.

Conclusion

👉 Overall, NDD Brokers do not forward their clients’ orders to a market maker or liquidity provider. Their primary function is to connect two counterparties through the use of a straight-through-processing (STP) system or an Electronic Communications Network (ECN). Trading with an NDD broker assures the trader that their broker has no conflict of interest with their trades.

FAQ

What does NDD stand for?

NDD stands for “No Dealing Desk”.

 

What is an NDD broker?

NDD brokers let customers trade directly with interbank rates.

 

What is the difference between No Dealing Desk and Dealing Desk brokers?

Dealing desk brokers are also known as market makers because they make money through spreads and provide liquidity to their clients by taking the opposite side of their trades.

 

NDD brokers don’t pass their clients’ orders to a market maker or liquidity provider but rather link two counterparties together through a straight-through-processing (STP) system or an Electronic Communications Network (ECN).

 

How do NDD brokers make their money?

An NDD broker often charges an exchange fee or a commission to make money for their services.

 

Is it better to deal with an NDD broker?

Dealing with an NDD broker does have advantages, such as traders being exposed directly to the exact spread available on the interbank market and extra layers of privacy provided.

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.

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