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What is Scalping in Kenya

What is Scalping in Kenya

What is Scalping in Kenya revealed. We tested and verified scalping in forex trading for Kenyan traders.

This is a complete guide to scalping in Kenya.

In this in-depth guide you’ll learn:

  • What is scalping
  • What is a scalping strategy in Kenya?
  • Our recommended forex brokers with whom you can trade when scalping?
  • How to compare forex trading brokers against each other?
  • What is the best time to scalp in Kenya?
  • What are forex scalping indicators?
  • Which scalping strategies can you use with MetaTrader 4/MT4?
  • What is a profitable scalping strategy?
  • Why you should trade with a scalping strategy?
  • Which forex brokers offer a low minimum deposit of $5 (604 KES)?
  • Which brokers offer a signup bonus for first-time traders?


And lots more…

So if you’re ready to go “all in” with scalping for Kenyans

Let’s dive right in…

Updated : October 26, 2022

What is a Day Trading Strategy?

👉 Day trading is a common short-term trading technique in which traders purchase and sell financial assets throughout the trading day, intending to close out their positions before the end of the trading day to benefit from even tiny fluctuations in price.

 

👉 A significant contributor to this is the availability of real-time market data made possible by the widespread use of high-speed Internet and mobile phone connections.

 

👉 Because of this, a growing number of individuals are trying to make money from the fluctuation of market prices by engaging in “day trading” or making deals repeatedly during the trading day.

What is Scalping, and what does it entail?

What is Scalping, and what does it entail?

👉 Scalping is comparable to day trading in that both include opening and closing a position within the same trading session. However, neither involves keeping a position overnight or into the next trading day.

 

👉 However, scalping is far more rapid and may trade numerous times within a session. In contrast, day trading may try to take a position once, twice, or even a few times a day.

 

👉 Scalpers often use shorter time frames (one-minute and tick charts) while trading than day traders (five-minute and 30-minute charts). In addition, some scalpers focus specifically on the rapid price changes that occur just before the publication of important economic data and news.

 

👉 The release of economic data, such as employment or GDP numbers, is a prime example of the kind of news to which traders pay close attention.

 

👉 Scalpers aim to profit by five to ten basis points (pips) from each transaction, making hundreds of these trades every trading day. The smallest possible change in the value of one currency relative to another is denoted by the term “percentage in point” or “pip.”

 

👉 When trading with a large amount of leverage, even little gains in the form of pips may quickly build up. Successful transactions that may be performed often during the day are ideal for scalpers.

 

👉 Kenyans must remember that a pip’s average worth is about $10 with a standard lot (100,000 base currency units). So, the trader may earn $50 for every five pips of profit. This would amount to $500 if repeated ten times daily.

 

How does Scalping compare to Market-Making?

👉 Scalping is comparable to market-making in certain respects. Market makers strive to counterbalance their positions to profit from the spread promptly. Those bank traders who take proprietary positions on the bank’s behalf are not included in this definition of market-making.

 

👉 However, it is crucial to recognize the distinction between a market creator and a scalper. The spread is the profit made by a market maker and the loss incurred by a scalper.

 

👉 Subsequently, a scalper who buys on the ask and sells on the bid must wait for the market to move to recoup the spread. In the opposite situation, the market maker quickly profits by one or two basis points (pips) by selling at the ask and buying at the bid.

 

👉 While both a market maker and a scalper aim to enter and exit positions often and fast, the latter carries far more risk than the former. Since scalpers pay the spread on all their transactions, market makers benefit from their activity since the spread might be as high as two pips for each trade.

Understanding what a Scalper Trader is

Understanding what a Scalper Trader is

👉 A person who engages in the trading strategy known as “scalping” is called a “scalper trader.” Scalpers are technically Day Traders since they never leave open positions overnight; nonetheless, there are several distinguishing characteristics.

 

👉 Because of their strict time limits on their open trades, scalpers tend to be very self-disciplined.

 

👉 They do not believe in the strategy of “letting your gains run,” instead closing deals after they have reached predetermined profit goals or avoided exceeding predetermined loss thresholds. Scalpers never hold on to a transaction hoping it would eventually prove profitable.

 

👉 Since a pure scalper would be entering dozens or hundreds of transactions each day, a scalper trader would also need to be able to devote a lot of time to watching financial markets. Therefore, novice or casual traders rarely use this strategy.

 

👉 Although scalper traders may choose when and what to trade manually, they often overlap with the group of traders that choose an automated trading method.

 

👉 Because of the time and effort involved in implementing a good scalping technique, employing a computer program is often more efficient. This ensures promptness when entering and quitting positions and mitigates the danger of irrational trading.

 

What temperament do Kenyans possess to become scalpers?

👉 Kenyans must realize that scalping is not suited to everyone. This is a dangerous trading strategy, and Kenyans must ensure that they have the right temperament for this.

 

👉 Those who engage in “scalping” must be able to sit in front of their computers for extended periods and must relish the need for laser-like focus that this requires.

 

👉 If you attempt to “scalp” a minor price change, for instance, five pips, you cannot afford to take your eyes off the market for even a second.

 

👉 You need to be the kind of trader who can respond extremely rapidly without overthinking your every action if you will be able to manage to spend all day stationed in front of a computer.

 

👉 For a scalper to succeed, “pulling the trigger” is a crucial skill. This is crucial if you want to get out of a losing trade after it has moved against you by only a few pips.

Scalping in Different Financial Markets

Scalping in Different Financial Markets

Forex Scalping

👉 Scalping is a method of trading currency pairs in the foreign exchange market that includes making several trades briefly.

 

👉 Traders specializing in “forex scalping” look for huge market movements around economic data and breaking news because of the high volatility these events tend to produce.

 

👉 Scalpers in the foreign exchange market often set their stop losses to a predetermined number of basis points (pips) and exit their position once the underlying currency pair has moved by that amount.

 

👉 For instance, a GBP/USD scalper would initiate a 30-second trade in the hopes of covering a one- or two-pip shift in the exchange rate. They might only make $10–$20 total, but they would make that amount several times over the day.

 

Stock Scalping

👉 As opposed to long-term holders like investors and even position traders who keep stocks for months, short-term traders like scalpers may only hold a stock for a few minutes or even seconds.

 

👉 Stock scalpers are traders that purchase in bulk, watch for a minor price movement in either direction (long or short), and then sell as soon as the transaction turns a profit.

 

👉 However, the risk of significant losses existed if the market suddenly reversed course. That is why most scalpers use stop-loss orders: risk control is crucial.

 

👉 In addition, liquidity is critical for the practice of “scalping,” when many shares are quickly bought and sold. Because of this, scalping becomes more difficult, and you might be compelled to maintain your position for longer than you like.

 

👉 In addition, another outcome is a wider margin of victory. The sheer volume of daily transactions makes every expense count and deciding to scalp even more crucial.

Pros and Cons of Scalping in Kenya

Pros

It demands lower capital

👉 Scalping tactics need less money since transaction sizes are often extremely tiny, frequently as little as 0.01 lots.

Small Position Sizes mean less exposure to risk

👉 Because of the reduced size of their investments, scalpers have less market exposure, reducing their risk. As a result, scalpers only use a tiny position size relative to the remainder of their account.

👉 Thanks to stop-loss orders, you will only risk a modest amount of money every time you trade. Thus, this could be a useful strategy for preserving your bankroll and avoiding a catastrophic loss.

Targets can be reached easily

👉 Price fluctuations in a few pips are likely to occur regularly, making it simpler to attain one’s objectives.

It is less labour-intensive

👉 Traders are not required to prepare and study every new deal for hours.

It is exciting

👉 One of the greatest benefits of Forex scalping is the ability to execute many transactions each day. Many individuals choose to be continuously connected in the industry. As a result, most scalpers execute many deals daily, which may be quite exciting for traders.

Kenyans can earn small, regular profits

👉 A further benefit of this method is that it may provide consistent, minor earnings. Closing a winning deal with other trading systems might take days or weeks. With an effective stopping approach, you can earn money every day.

 

👉 In addition, Kenyans attempting to make a living via Forex trading may like this strategy due to its consistency.

 

Traders do not need massive market movements to profit

👉 Another benefit of scalping is that it does not need significant market movement to generate a profit.

 

👉 With other long-term trading techniques, you must target large gains, which necessitates major market movement for your success. With scalping, you just need to move a few pips to achieve your objective.

 

Cons

There is an inherent risk of higher trading costs

👉 Scalpers submit far more orders than other trading techniques, resulting in greater trading expenses.

 

Time-consuming as traders must manage their trade, and errors can occur

👉 Since each transaction yields only limited earnings, more effort must be spent actively managing deals. Errors are more likely to occur as the volume of transactions increases.

 

It can be emotionally and mentally draining

👉 Over time, the emotional toll of making several trades every day may wear on a trader.

 

There might only be small windows of opportunity, which can be difficult to schedule daily

👉 There are just a few optimal times each day for scalping. Thus, your timetable should match these times.

 

It can be challenging and often impossible to predict what the market will do from one minute to the next

👉 One of the major potential drawbacks of this method is that it may be difficult to forecast the minute-by-minute behaviour of the market.

 

👉 While some individuals may be able to follow the trend and earn a profit over the long term, it might be more difficult to predict the next five minutes accurately. Many market professionals feel it is hard to benefit from scalping trades using technical indicators regularly.

 

It would help if you had consistent wins to be profitable

👉 Another downside of this method is that you must be a consistent winner to be lucrative. With this technique, you must win successive trades to collect a substantial return.

 

👉 Using a long-term trading technique, it is possible to generate a substantial profit from a single transaction. However, scalping requires repeated victories to be effective.

How can Kenyans start Scalping Step-by-Step

How can Kenyans start Scalping Step-by-Step

👉 To become a scalper, you must have excellent, dependable access to market makers and a platform that enables very rapid buying and selling.

 

👉 Typically, the platform will offer a buy button and a sell button for each currency pair, allowing the trader to join or exit a position by clicking the corresponding button. In liquid markets, trades may be executed in fractions of a second.

 

Evaluate and Choose an Ideal Scalping Broker

👉 Remember that the forex market is worldwide and mostly unregulated. However, governments and the industry are attempting to propose laws controlling over-the-counter (OTC) forex trading.

 

👉 As a trader, it is your responsibility to investigate and comprehend the broker agreement, including your duties and those of the broker. You must be aware of the required margin before you make a trade.

 

👉 In addition, you must familiarize yourself with what the broker will do if your trades go against you, which might result in the involuntary liquidation of your account if the leverage is excessive. Ask the broker’s representative questions and retain the agreement documentation. Review the fine print.

 

Test and Evaluate the Broker’s Trading Platform

👉 As a scalper, you must get intimately acquainted with your broker’s trading interface. Different brokers may provide varying platforms.

 

👉 Therefore, you should always establish a demo account and practice using the platform until you are entirely acquainted. Because you aim to scalp the markets, your trading platform has no room for mistakes.

 

👉 Suppose you accidentally clicked the “Sell” button when you meant to press the “Buy” button. In that case, you might be fortunate if the market promptly declines, allowing you to benefit from your error. However, if you are unfortunate, you will have entered the opposite position intended.

 

👉 These errors could be extremely expensive and might result in losses. Before you trade with real money, you need to hone your platform skills using a demo account.

 

Evaluate the Liquidity of The Broker

👉 You should only trade the most liquid markets as a scalper. Typically, these markets include important currency pairings, such as EUR/USD or USD/JPY. Additionally, depending on the currency pair, some trading sessions may be much more liquid than others.

 

👉 Even though foreign exchange markets are open 24 hours a day, volume fluctuates throughout the day.

 

Verify whether the broker has Guaranteed Order Execution

👉 Scalpers must ensure that their deals are performed at the desired prices. Ensure that you comprehend the trading terms of your broker.

 

👉 Some brokers may restrict their execution promises to less volatile market conditions. Others may give no execution assurance whatsoever.

 

👉 Slippage is the execution of an order a few pips away from where it was meant. You cannot afford slippage on top of the spread as a scalper. Therefore, you must ensure that your order can and will be executed at the specified level.

 

Make sure that you Protect Yourself against Financial Ruin

👉 Redundancy is the process of protecting oneself against disaster. In trading parlance, redundancy refers to the capacity to enter and exit deals in several ways. First, your online connection speed must be as high as possible.

 

👉 Determine what you will do if the Internet is unavailable. When you are in a situation from which you must rapidly exit or modify the trade, all these elements become vital.

 

Choose a relevant Chart Timeframe

👉 To conduct trades repeatedly, you will need a method that can be followed automatically. Since scalping does not allow for in-depth examination, you must have a strategy that you can repeatedly employ with a reasonable degree of certainty.

 

👉 If you are a scalper, you will need tick charts, one- or two-minute charts, and a five-minute chart.

7 Best Technical Indicators for Scalping Trading Strategies

7 Best Technical Indicators for Scalping Trading Strategies

👉 Scalpers use short-term opportunities-tailored technical indicators to tackle market problems. These real-time resources apply signals typical of longer-term market strategies to shorter time horizons than an hour (H1).

 

👉 They are most useful when the intraday market is firmly moving or range-bound and less so when there are whipsaws or erratic price swings. Kenyans can view the 7 best technical indicators below that can be used with scalping.

 

Parabolic SAR

👉 The parabolic SAR is a technical indicator represented by dots positioned above or below the market price. Scalpers use it to identify probable market reversals and the optimal entry and exit points.

 

👉 When red dots are positioned above the current price, a sell signal is generated, signalling that a negative market is approaching. Conversely, green dots below the current price are seen as a purchase signal, signalling a potentially optimistic market.

 

👉 Kenyan scalpers could consider the emergence of the first green dot after a string of red dots to be the beginning of a bullish reversal, opening a position to go long. In contrast, a trader can decide to start a short position if a red dot emerges after a string of green dots.

 

Stochastic Oscillator

👉 The Stochastic Oscillator indicator, often known as a momentum indicator, is an additional widely used indicator for trading indices, forex, and CDFC. It follows from the straightforward principle that momentum precedes price.

 

👉 Therefore, Kenyan traders use this scalping indicator to acquire signs of the real movement just before its occurrence. The indicator also assumes that an issue’s closing price normally trades at the upper end of the trading day’s action-price range.

 

👉 Despite its seeming complexity, the Stochastic Oscillator indicator is regarded by traders as one of the most dependable buying and selling indicators.

 

Moving Averages

👉 Moving average is a mathematical method used to identify developing and recurring market patterns, illustrated by a single line indicating the average. It is possible to use either a simple moving average (SMA) or an exponential moving average to track data over time (EMA). Moving averages are prevalent in most forex scalping tactics due to their readability.

 

👉 An SMA divides a numeric sum by the set’s size to get a single value. For instance, a scalper may sum the price of a currency pair at five-minute intervals over an hour and then divide the total by 12. Forex scalpers typically use shorter-term averages and one longer-term average to identify trends.

 

👉 When the five-period moving average crosses over the 20-period moving average, forex scalpers will open a trade in the direction of the trend, which the arrows can see on the trader’s chart.

 

👉 On the other hand, an exponential moving average (EMA) attempts to respond to more recent price movements. In the example below, the three, twelve, and one hundred-period moving averages for the same currency pair become closer together as the data reflects more recent activity.

 

 

Relative Strength Index (RSI)

👉 The RSI is a momentum indicator that employs a range between 0 and 100 to determine if a market’s current trend is likely to reverse. In addition, it employs support and resistance levels of 30 and 70, respectively, to determine when the market’s trend may be likely to reverse.

 

👉 When the RSI climbs over 70, it may indicate that the market is overbought. Therefore, it may be advantageous for a trader to start a short position.

 

👉 If the RSI goes below 30, it may imply that the market is oversold and that a trader should initiate a long position. But scalpers need to know that the RSI might provide more spurious signals when used in a noticeably short timeframe.

 

Bollinger Bands

👉 Numerous traders use Bollinger Bands to identify regions of market volatility. Bollinger Bands use a standard deviation above and below a simple moving average (SMA) to illustrate potential market volatility.

 

👉 Traders believe that greater standard deviations signify heightened market volatility. Alternatively, the underlying market may be steady if the bands are thin.

 

👉 When the standard deviations (bands) broaden, traders refer to this phenomenon as a “Bollinger bounce,” which signifies an impending pullback. Conversely, narrowing bands are referred to as a “Bollinger squeeze,” which is believed to signal an imminent breakout in the underlying asset.

 

👉 Bollinger Bands may be combined with other forex scalping indicators to develop a successful scalping strategy.

 

The Moving Average Convergence Divergence (MACD)

👉 The Moving Average Convergence Divergence (MACD) indicator is another prominent tool traders use. It is suitable for several sorts of dealers. The MACD assists in recognizing momentum and capturing trends.

 

👉 The MACD indicator primarily illustrates the connection between two price moving averages. For the MACD scalping indicator, traders use the difference between the 26-day EMA and the 12-day EMA, with the 9-day EMA serving as the default setting or signal line to indicate whether to buy or sell.

 

Candlestick Patterns

👉 For scalping, more seasoned traders prefer to employ price action analysis. Furthermore, it indicates that they prefer obtaining trading signals from candlestick formations above technical indicator settings.

 

👉 In this instance, the candlestick chart serves as its own “trading indication.” Therefore, you must arm yourself with all the required candlestick knowledge to imitate them.

 

👉 In addition, it is essential to comprehend the fundamentals of popular one-candle, two-candle, and three-candle designs, such as Doji, Hammer, Shooting Star, Three Black Crows, and Morning/Evening Star.

How to choose the Right Scalping Broker in Kenya

How to choose the Right Scalping Broker in Kenya

👉 Finding a supplier with the capabilities and tools necessary to execute the method efficiently is the first step in beginning scalp trading. This should at least include:

➡️ You must verify that your broker has the best execution technique to guarantee you get the best rates, especially in unpredictable markets.

➡️ Competitive expenses and fees – high trading costs and commission fees may affect earnings. Therefore, you must ensure that your service provider provides competitive pricing.

➡️ Advanced charting – your selected platform should provide charts with numerous timeframes. For example, suppose you are initiating and completing transactions in seconds or minutes. In that case, a tick of 10 minutes or more is not beneficial.

➡️ Technical analysis indicators and drawing tools – most scalpers will concentrate more on price movement and spotting established chart patterns than fundamental research.

➡️ Daily news and analysis — being abreast of daily news and “hot” transactions can assist in determining where opportunities exist and what is likely to cause abrupt price fluctuations.

➡️ Appropriate risk management tools – stops and limits – are a fundamental component of a scalper’s toolkit. The ability to attach them before and during a transaction may be the difference between a successful and a losing deal.

 

👉 Before using a scalping method on live markets, practicing with a risk-free demo account is prudent.

 

👉 Therefore, you can utilize virtual currency, avoiding any danger to your personal funds, and begin with lower position sizes before creating a complete trading account to confirm you are on the correct road.

The Best Crypto CFD Brokers in Kenya

👉 In this article we have listed the best Forex Platforms in Kenya that offer trading platforms in Kenya. We have further identified some forex brokers that offer additional services and solutions to Kenyan traders.

 

Best MetaTrader 4 / MT4 trading platform broker in Kenya

Overall Rating

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 MetaTrader 4 / MT4 trading platform in Kenya. Exness has offices in Cyprus, the United Kingdom, Seychelles, South Africa, the British Virgin Islands, and Curaçao.

 

👉 Exness provides a number of benefits such as low commissions, instantaneous order execution, and the opportunity to withdraw money immediately via various instant withdrawal alternatives.

 

Best MetaTrader 5 / MT5 Forex Platform broker in Kenya

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

👉 Overall, HF Markets is the best MetaTrader 5 / MT5 trading platform in Kenya. HF Markets was previously known as HotForex. It offers a variety of pricing alternatives and account types. HF Markets has competitive fees and spreads that average 0.1 for the EUR/USD currency pair.

 

Best Forex platform for beginners in Kenya

Overall Rating

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 trading platform for beginners in Kenya. Tickmill is reputable and trustworthy forex and CFD broker. Tickmill is regulated by top-tier regulators like FSCA (South Africa), FCA (UK), and CySEC.

 

👉 Tickmill offers instant internet banking deposit methods and quick bank transfer withdrawals.

 

Best Minimum Deposit Forex platform in Kenya

Overall Rating

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

$140 (16 373 KESFind out More)

Account Activation Time

24 Hours

👉 Overall, FBS is the best trading platform for the lowest minimum deposit in Kenya. FBS is in operation since 2009 and has evolved to become a large, reputable international forex and CFD broker. FBS offers competitive trading conditions, a range of accounts, advanced trading tools, and several other advantages to Kenyan traders.

 

Best ECN Forex platform in Kenya

Overall Rating

Min Deposit

USD 0 / 0 KES

Regulators

ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA

Trading Desk

Metatrader 4 and Metatrader 5

Crypto

Yes

Total Pairs

45

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, Oanda is the best ECN platform in Kenya. Oanda gives customers access to a variety of financial products for seasoned investors.

 

👉 Oanda offers quick and reliable transaction execution. Oanda’s research resources are superior to industry standards. Its user interfaces are easy to understand and it has a good track record of regulatory oversight.

 

Best Islamic / Swap-Free Forex platform in Kenya

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

👉 Overall, BD Swiss is the best Islamic Forex Broker in Kenya. BD Swiss is a well-regulated and reputable broker with a large international clientele. BD Swiss offers a wide range of products for trading. BD Swiss also offers trading in many cryptocurrencies.

 

Best trading platform Forex Trading App in Kenya

Overall Rating

Min Deposit

USD 5 / 578 KES

Regulators

FCA UK

Trading Desk

None

Crypto

Yes

Total Pairs

28

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, OctaFX has the best forex trading app for traders in Kenya. OctaFX operates from Saint Vincent and the Grenadines. OctaFX serves traders from all over the world, including those in African countries like Kenya.

 

👉 Kenyan traders can trade forex currency pairs, Index CFDs, commodities, and cryptocurrencies with OctaFX’s award-winning services from investors around the world.

 

Best Lowest Spread Forex platform in Kenya

Overall Rating

Min Deposit

570 KES or an equivalent to $5

Regulators

FSC

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

48

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, Alpari is the best Low spread Forex platform in Kenya. Alpari is trustworthy and reliable as a market maker broker. Alpari is regarded as a broker with a low level of risk. Trading speeds are guaranteed to be swift. More than 2 million customers are enrolled with Alpari.

 

Best Nasdaq 100 Forex platform in Kenya

Overall Rating

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

👉 Overall, FXTM is the best Nasdaq 100 forex platform in Kenya. FXTM aims to provide the best trading conditions for traders of all levels. For the safety and security of their clients’ cash, they keep such funds in segregated accounts.

 

👉 The broker is ideal for active trading and investment opportunities for traders of all skill levels.

 

Best Volatility 75 / VIX 75 Forex platform in Kenya

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

👉 Overall, AvaTrade is the best Volatility 75 / VIX 75 Forex Platform in Kenya. AvaTrade is trustworthy and well regulated. AvaTrade offers a single live trading account but traders have the choice to trade with either a Retail trading account or a Professional trading account.

 

Best NDD Forex platform in Kenya

Overall Rating

Min Deposit

USD 5 / 584 KES

Regulators

IFSC, CySec, ASIC

Trading Desk

Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform

Crypto

No

Total Pairs

57

Islamic Account

Yes

Trading Fees

No (Just spread) 

Account Activation Time

24 Hours

👉 Overall, XM is the best NDD forex platform in Kenya. XM is regulated by strict financial regulators in all relevant jurisdictions. XM offers a balanced mix of all the features that users value: security, support, ease of account funding, and withdrawal. XM charges low fees.

 

Best STP Forex platform in Kenya

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

👉 Overall, Pepperstone is the best STP Forex platform in Kenya. Pepperstone gives traders across the world access to all markets backed up by very good customer care. Pepperstone also offers modern technology, low spreads, and high-speed execution.

 

Best sign up bonus trading platform in Kenya

Overall Rating

Min Deposit

USD 100 / 11560 KES

Regulators

ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

63

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, FP Markets is the best Sign Up bonus trading platform in Kenya. FP Markets offers stocks, indices, foreign exchange (forex), commodities, and cryptocurrencies to trade. FP Markets has a user-friendly mobile app and a variety of account types to choose from.

Conclusion

👉 If you are interested in day trading, you should study scalping. Scalping could be quite beneficial for Kenyans who utilize it as their main strategy or complement other trading methods.

 

👉 Adhering to the exit plan strictly is the key to compounding tiny earnings into enormous returns. This technique is popular among several sorts of traders because of its essential characteristics: its limited market exposure and high frequency of tiny price movements.

FAQ

Can scalping be profitable in Kenya?

Scalping could be extremely beneficial for traders who utilize it as their main strategy or complement other trading methods. However, strictly adhering to the exit plan is the key to compounding tiny earnings into enormous returns.

 

How much money can Kenyans make in scalping?

With one normal lot, the average value of a pip is around $10. Therefore, the trader may earn $50 for every five pips of profit. This would total $500 if repeated 10 times every day.

 

Is scalping easy?

Scalping is a challenging approach to implement effectively. One of the key reasons is that it demands several deals over time. Most of the research on this topic indicates that frequent traders lose money faster and have a negative equity curve.

 

Which market is the best for scalping in Kenya?

The ideal markets for scalping are those with high volatility and limited trading ranges, such as the cryptocurrency, stock, and foreign exchange markets.

 

Do all brokers allow scalping strategies in Kenya?

Many trading platforms prohibit scalping, but a few select brokers permit it.

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