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7 Best Stock Trading Platforms in Kenya

The 7 Best Stock Trading Platforms in Kenya revealed. We tested the best stock trading platforms for Kenyan Traders.

This is a complete guide to stock trading platforms in Kenya.

In this in-depth guide you’ll learn:

  • What is a Stock Trading Platform?
  • Which forex traders offer the best trading platforms for Kenyan traders?
  • Which stock trading platforms can you use with M-PESA?
  • How to compare the best stock trading platforms against each other. 
  • Which Stock Trading Platforms are best for beginner Kenayn Traders? 
  • Which brokers offer a sign-up bonus for first-time traders in Kenya? 
  • Which brokers offer a low minimum deposit of $5 (583 KES) to start trading? 
  • Which trading platforms offer a mobile app on IOS and Android for Kenyan Traders? 

And lots more…

So if you’re ready to go “all in” with the best-tested stock trading platforms

Let’s dive right in…

Updated : September 20, 2022

Best Stock Trading Platforms in Kenya (Updated 2022)

🥇 Broker💰 Minimum Deposit💸 Bonuses for Kenyan traders?👉 Open Account
1. Interactive Brokers100 USD (11635,00 KES)Yes👉 Open Account
2. eToro50 USD (6 009 KES)No👉 Open Account
3. Pepperstone0 USD (0 KES)No👉 Open Account
4. Fidelity Investments10 USD (1 201 KES)No👉 Open Account
5. E*TRADE0 USD (0 KES)Yes👉 Open Account
6. Trade Nation0 USD (0 KES)No👉 Open Account
7. XTB0 USD (0 KES)Yes👉 Open Account

7 Best Stock Trading Platforms in Kenya (Updated 2022)

  1. Interactive Brokers – Overall, Best Stock Trading Platform in Kenya
  2. eToro – Top Social Trading Platform Broker
  3. Pepperstone – Verified Low-Minimum Deposit Broker
  4. Fidelity Investments – Best Lowest Spread Broker in Kenya
  5. E*TRADE – Top Stock Trading Platform Broker on Nasdaq100
  6. TD Ameritrade – User-Friendly Broker for Beginner Traders
  7. XTB – Top ECN Stock Trading Platform Broker in Kenya

How do trading platforms work?

👉 Brokerages and banks, among other financial organizations, provide investors and traders with access to a trading platform, or a specialized piece of software.

 

👉 Traders and investors may make transactions and track their accounts with the help of trading platforms. Investment decision-making tools are often included with trading platforms.

1. Interactive Brokers

Overall Rating

Min Deposit

USD 0 / 0 KES

Regulators

US SEC, CFTC. Regulated in Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK 

Trading Desk

Crypto

Yes

Total Pairs

22

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 In 1978, Thomas Peterffy established the firm currently known as IBKR, or Interactive Brokers. The firm has gathered an impressive $8.1 billion in equity capital to date and is one of the most popular options for active traders.

 

👉 Interactive Brokers (IBKR) has historically been a trend-setter as opposed to an early adopter. It has added cryptocurrencies to its range of tradable assets for its IBKR Lite program for lower-volume traders, which was previously running on a fee-free premise.

 

👉 The firm does around 1,400,000 transactions each day on average (as of July 2020). It has three fundamental tiers:

➡️ Interactive Advisor is a digital algorithm-based Robo-advisor platform with affordable management costs between 0.08% and 1.50%.

➡️ IBKR Lite is a commission-free service tier designed for infrequent traders.

➡️ IBKR Pro: A service tier that offers fee benefits to traders of all experience levels. IBKR Pro, according to Interactive Brokers, saves customers an average of $4.42 each transaction compared to the industry standard. Compared to fee-free versions, IBKR Pro is an excellent choice due to these savings, except for individuals with a low transaction volume.

 

👉 With headquarters in Greenwich, Connecticut, Interactive Brokers serves more than 135 markets via locations in 14 nations, including:

➡️ Australia

➡️ Canada

➡️ China

➡️ Estonia

➡️ Hong Kong

➡️ Hungary

➡️ India

➡️ Luxembourg

➡️ Japan

➡️ Russia

➡️ Singapore

➡️ Switzerland

➡️ United Kingdom

➡️ United States

 

👉 Interactive Brokers is well suited for institutional investors and savvy, active traders who need a comprehensive trading platform and access to a vast array of asset classes.

 

👉 The broker has introduced new products, services, and instructional material geared at less active traders and investors to extend its appeal. However, IBKR’s reputation as a platform for professionals may potentially deter less-seasoned investors.

 

👉 The firm welcomes customers from over 220 countries and territories and facilitates trading on 135 marketplaces in 33 countries with 23 currencies.

 

Top Features

➡️ Interactive Brokers offers a vast array of trading solutions on 135 marketplaces in 33 countries.

➡️ In addition to providing direct access to worldwide markets, IBKR maintains a vast inventory of fixed income products, such as diverse European corporate bonds and Euro-denominated government bonds.

➡️ IBKR’s “SmartRouting” software offers the greatest pricing execution in the business to its customers. It looks for the best available firm stock, option, and combination prices when you make an order and attempts to execute it instantly.

➡️ The Trader Workstation (TWS) platform of IBKR is robust enough for professional traders while still being built for regular traders and investors.

➡️ Fundamentals Explorer provides access to business fundamentals data on stocks and mutual funds, as well as a multitude of technical analysis tools, Social Sentiment from Social Market Analytics, and ESG ratings from Refinitiv.

➡️ IBKR has much lower margin interest rates than the industry norm.

➡️ IBKR’s Client Portal is a terrific location to check on positions, examine your accounts in real-time, and execute simple trades. Accessing a trade ticket and configuring trade defaults is simple.

➡️ TWS is meant for aggressive traders and investors that want flexibility, trade many instruments, and provides much greater capabilities.

➡️ Interactive Brokers provides an attractive pricing structure with low overall fees and excellent incentives for active traders.

 

Pros and Cons

✔️ Pros❌ Cons
When it comes to market coverage and asset selection, Interactive Brokers is without peerNew traders may feel overwhelmed with TWS, Interactive Brokers’ preferred platform for international trade
For extensive customization and power, Trader Workstation (TWS) is an excellent choiceThe 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

2. eToro

Overall Rating

Min Deposit

USD 50 / 5780 KES

Regulators

CySec, FCA 

Trading Desk

None

Crypto

Yes

Total Pairs

47

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.

Overview

👉 eToro was established in 2007 by Israelis Yoni Assia and Ronen Assia as a worldwide trading platform, beginning with currency. Over the years, it has introduced other asset classes, including cryptocurrency in 2017, and more social features, such as CopyTrader.

 

👉 Currently, the platform supports millions of users in more than 140 nations. When it comes to online trading firms, eToro is right up there among the most well-known and reputable.

 

👉 There are more than 2,500 shares available on many marketplaces. Consequently, eToro is the greatest trading platform in Kenya. The fact that eToro’s share trading platform does not charge any fees is one of its primary advantages, making it one of the least expensive brokers available.

 

👉 eToro offers intelligent portfolios to clients, which provides investors with varied exposure. You may also duplicate the performance of eToro-managed portfolios using Smart Portfolios, a comparable service offered by eToro. This transforms eToro into a fee-free, hands-off Robo-advisor.

 

👉 The eToro Club is a premium membership that offers customers additional privileges in proportion to their account balances.

 

👉 The eToro platform provides several tools for studying and learning about specific currencies, the cryptocurrency market overall, and investing in general. The research and teaching tools are geared toward both novice and experienced users.

 

👉 The eToro Academy is comprised of online lessons and videos that cover everything from how to use eToro to the profiles of coins and investing methods. The News and Analysis part of the website gives the most recent market news and insightful investment insights.

 

👉 Not to mention the platform’s crypto and stock paper trading capabilities. This may assist novice investors to get experience with investing without endangering their own funds.

 

👉 There are very few locations where you can trade cryptocurrencies and equities at the same time, and those that can often do not have an enormous range of cryptocurrencies.

 

👉 eToro provides one of the greatest collections of digital assets that may be paired with stock investment in the same account.

 

Top Features

➡️ Additionally, eToro allows trading in a limited selection of equities and ETFs. The brokerage platform allows users to experience trading with a virtual trading account. Like many other online brokers, eToro does not charge fees on stock and ETF trades.

➡️ There are no further trading commissions or account administration fees charged by eToro. There are no withdrawal fees, however, the minimum withdrawal amount is $30.

➡️ CopyTrader is one of the most distinctive aspects of the eToro platform. This enables eToro users to mimic the trades of their preferred high-performance traders with a single click. Simply enter the amount you want to utilize.

➡️ eToro has one of the largest collections of digital assets that may be paired with stock trading in the same account. eToro provides commission-free stock trading with fractional share purchases.

➡️ eToro is a 15-year-old supplier of online trading services under regulatory oversight.

➡️ Customers may deposit fiat cash from a debit card or bank account and begin trading instantly using eToro’s user-friendly online interface and well-designed mobile app.

➡️ eToroX has all the features you would expect from an institutional-grade exchange, such as U.S. dollar deposits, margin trading, trading APIs, and quick execution. These characteristics make it an appropriate trading platform for institutional and professional traders.

 

Pros and Cons

✔️ Pros❌ Cons
eToro has a strict and solid regulatory frameworkThere are limitations on leverage for retail traders
Client fund safety is guaranteed and there is consumer protection offeredThere is a limited selection of retail investor accounts
eToro offers commission-free tradingFixed spreads are not offered
There are over 2,000 complex instruments that can be tradedThe spreads are not the tightest
The broker offers several trading opportunities and a social trading featureThere is a high minimum deposit on the Islamic Account
There is an award-winning proprietary platform offeredThere is an inactivity fee charged on dormant accounts
eToro offers 24/6 dedicated customer services
eToro offers a demo account and an Islamic Account
Algorithmic trading and margin trading supported
Real time quotes are offered alongside a wide range of benefits
The mobile app is secure and features robust security such as two-factor authentication
The app can be used as a wallet app for digital currencies
Offers several resources that help traders make improved financial decisions with confidence
Offers several helpful tools and services as a solid basis for investment decision along with investment advice
Provides access to several popular cryptocurrencies that can be traded and crypto staking services
There is a comprehensive portfolio management service and popular investor program offered

3. 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

👉 Since its inception in 2010, Pepperstone Group has grown into a leading online broker, offering clients access to a robust trading platform for currency pairs, stocks, indices, metals, commodities, and digital currencies.

 

👉 There are two types of Pepperstone accounts available: Razor and Standard. Both have different terms, with one catering to scalpers and the other to novice traders. Pepperstone is here to provide you with a comprehensive trading service from start to finish.

 

👉 Fast speeds and tight spreads are used to complete every deal. Additionally, the cheap commissions fulfil the company’s promise to aid traders in reaching their objectives.

 

👉 Pepperstone provides its customers with a variety of trading platforms and resources to facilitate their transactions. Pepperstone’s technology suite aids clients in properly instrumenting their transactions.

 

👉 Pepperstone provides these approved and licensed third-party platforms. Traders may use popular third-party platforms including MetaTrader 4, MetaTrader 5, TradingView, and cTrader of the company’s own proprietary software.

 

👉 These exchanges provide premium trading at wholesale rates set by direct liquidity providers. They provide a ton of innovative technological tools that make trading easier for the customer.

 

👉 These systems enable investors to put into practice individualized strategies via the use of detachable charts, algorithmic market research, and trade backtesting.

 

👉 Pepperstone allows you to trade Contracts for Difference (CFDs) on a wide variety of underlying assets in addition to FX trading pairs. The broker’s index CFDs provide you access to 14 main global stock indexes without any hidden markups or requotes, and they do so with minimal latency.

 

👉 With Pepperstone, you can easily expand your trading horizons and take advantage of a wider range of chances in the international equities markets thanks to these new venues. Kenyans can easily purchase or short sell the main stock indexes without paying any fees.

 

Top Features

➡️ Pepperstone provides hassle-free market access, allowing clients to put their attention on the challenging endeavour of trading financial markets, especially stocks.

➡️ Pepperstone is a good fit for investors looking for a wide selection of low-cost services, a variety of account kinds and user interfaces, and responsive customer assistance.

➡️ Pepperstone provides its customers with the option of using either the MetaTrader 4/5 platform or cTrader, a more sophisticated platform with pricing from direct liquidity providers and technical features including detachable charts, back-testing, and algorithmic strategy assistance.

➡️ Pepperstone has a solid track record, a growing clientele, and a slew of industry accolades that should give Kenyans even more confidence in their choice of broker.

➡️ Pepperstone’s Smart Trader Tools are a great option for MetaTrader traders. In this set, you will find ten innovative trading applications that might provide you with an advantage. The tools provide current market data, aid in making decisions, and assist with advanced trade management and execution.

➡️ Pepperstone has a wide variety of trading and investing platforms available.

➡️ Technical analysis patterns are the basis for the trade suggestions generated by the AutoChartist software. Accessible through the desktop trading interface, the platform also gives traders the ability to automate their own trading methods and “clone” those of other users.

 

Pros and Cons

✔️ Pros❌ Cons
Pepperstone Markets is well-regulated in Kenya and several other regions in the worldThere 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 protectionFixed spreads are not offered
Kenyan traders are accommodated and provided with local deposit and withdrawal optionsThere are additional fees charged on the Islamic Account
There are competitive trading conditions offered on trading accountsThere 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 devicesThere 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

4. Fidelity Investments

Overall Rating

Min Deposit

$0 / 0 KES

Regulators

SEC, FINRA

Trading Desk

TraderPro

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

on Fidelity’s website

Overview

👉 Fidelity is a smart choice for both new investors and people who have been doing day trading for a long time.

 

👉 The platform provides all the tools necessary for fundamental and technical traders to do an extensive analysis of equities, ETFs, and fixed-income products. Because of the unique features, it has, Fidelity Investments is one of the best online brokers.

 

👉 Despite the strength of Fidelity’s built-in screeners, external research sources, and portfolio analysis tools, Active Trader Pro, which can be downloaded, has all the features stock and options traders could need.

 

👉 Fidelity is a wonderful choice for active traders because it saves them a lot of money on order execution costs.

 

👉 Investors who want both self-directed tools and professional advice will like the wide range of managed portfolios and coaching and financial adviser help that comes with them.

 

👉 Fidelity is different from other brokerage platforms because they do not charge commissions when you trade stocks or ETFs. They also do not charge anything when you trade over-the-counter (OTC) equities. Options trades cost $0.65 per contract and are free in other ways.

 

👉 Fidelity competes for head-on with e likes of Vanguard, an innovator in low-cost mutual fund concepts. The group gives people access to four index funds, and there is no minimum initial investment and no cost ratio.

 

👉 It also gives you access to a wide range of mutual funds, including all of Fidelity’s, which can be traded without any fees and with a minimum holding time of fewer than 60 days.

 

👉 Fidelity has one of the widest ranges of accounts for individuals, families, businesses, and accounts that are managed by Fidelity.

 

👉 Fidelity Investments offers all types of accounts, from the traditional taxable brokerage accounts and retirement accounts to the more unusual education savings accounts and health savings accounts.

 

Top Features

➡️ Buying and selling shares of stock or exchange-traded funds at Fidelity is free of charge, as it is at all the best stock brokers.

➡️ Investors like Fidelity mutual funds because of the firm’s consistent track records of success and their affordable costs. Fidelity’s reputable funds may be bought online without incurring a fee.

➡️ It is common for brokers to charge extra fees for things like withdrawals, wire transfers, insufficient funds, and so on, in addition to the usual trading commission. Fidelity, unlike numerous rivals, does not charge any of these fees.

➡️ Only a few brokerage firms, like Fidelity, provide investors access to global markets. Trading is allowed across 25 markets and 16 different currencies, while some exchanges may charge higher fees than others.

➡️ Fidelity is one of the few large brokers that offer “Stocks by the Slice,” which allows you to buy and sell fractional shares of stock.

➡️ Investors like the versatility of the Fidelity iOS and Android apps, which let them manage a broad range of account needs while on the go. Examine these reviews to learn how popular an app is right now.

 

Pros and Cons

✔️ Pros❌ Cons
Fidelity Investments is well-regulated and has a good trust scoreMetaTrader platforms are not supported
Member of the FDIC and the Securities Investor Protection Corporation (SIPC)
There is no Forex, CFD, or crypto trading offered
There is a wide range of investment options offered across several financial marketsThere are limited funding options
There are several account types to choose from, each suiting different investors and tradersThe account opening process can be time-consuming
There are many advanced trading tools offered on the website, trading platform, and mobile appTo get the best account benefits, traders must make larger deposits
Powerful proprietary trading platform offeredManagement fees and a contract fee applied
Competitive trading conditions for cost-effective trading and investing
Offers advanced research options and some educational material

5. E*TRADE

E*TRADE

Overview

👉 In October 2019, E*TRADE joined a growing number of online brokers in the United States that provide commission-free stock, ETF, and options trading.

 

👉 E*TRADE’s varied offerings, which include three web-based/downloadable platforms and two mobile applications, make it an ideal choice for both passive investors and casual traders.

 

👉 Despite its vast features, such as news, research, and screeners, E*TRADE is simple and easy to use. E*TRADE is a popular alternative for new investors due to its rich instructional resources.

 

👉 As an industry pioneer, E*TRADE has established itself as one of the best online brokers for trading options. It is a solid, well-rounded option for all investors, from beginners to experts.

 

👉 E*TRADE has attempted to attract active Kenyan traders by offering two high-quality trading platforms, a fully functional mobile app, a choice of investment opportunities, and extensive options trading tools.

 

👉 The Force, an E*TRADE platform, is packed with simple, easy-to-use tools for trading stocks, options, and futures.

 

👉 This platform is for you if you like market monitoring and trading. Its primary website offers a wealth of educational and research tools, as well as a wide range of no-fee funds. E*TRADE, like many other well-known online brokers, could give value to investors of all levels.

 

Top Features

➡️ All transactions involving publicly listed stocks, ETFs, and options in the United States are completed at no extra cost to the investor. The charge for options transactions is $0.65 per contract.

➡️ E*TRADE offers tools including ETF research, screening, and prebuilt portfolios to let passive investors invest more easily.

➡️ Clients can choose from four diverse kinds of managed portfolios, each skilfully tailored for a specific investment objective or life stage.

➡️ E*TRADE standard brokerage accounts do not need a minimum initial deposit.

 

Pros and Cons

✔️ Pros❌ Cons
E*TRADE has an enormous range of investment optionsThere is no forex, crypto, or CFD trading
Kenyans can benefit from low and competitive fees, with free stock and ETF trading offeredThere is no option to invest in fractional shares
There are several advanced tools offered to more experienced investorsThere is a limited selection of funding options available
The intuitive trading platforms are available across several devices
E*TRADE offers innovative portfolio tools
There is an abundance of educational material offered to beginner traders

6. TD Ameritrade

Overall Rating

Min Deposit

$0 / 0 KES

Regulators

SEC, FINRA, CFTC, MAS

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Overview

👉 TD Ameritrade’s history dates to the 1970s, despite its image as an internet broker, the business has been a pioneer in the brokerage market for decades.

 

👉 For example, the business (then known as Ameritrade) pioneered the use of telephones with push-button controllers for order input.

 

👉 The company’s modern age started in 1996 when it merged with TransTerra, the provider of an electronic trading platform.

 

👉 The following years of the dot-com boom saw a considerable surge in online trading, and Ameritrade benefited from technology developments. The firm grew significantly during the following decade or so, both organically and via a series of mergers and acquisitions.

 

👉 In 2006, Ameritrade purchased TD Bank’s U.S. brokerage operation, giving TD a 40% stake in the firm, and changing its name to TD Ameritrade.

 

👉 TDAmeritrade.com is the platform that provides close to everything a typical Kenyan investor needs to locate, study, screen, and trade stocks, mutual funds, bonds, and CDs. Included with the free platform:

➡️ Screeners

➡️ An adaptable landing page

➡️ GainsKeeper is a program used by brokers to monitor capital gains and losses during tax season

 

👉 Thinkorswim, the company’s desktop trading tool, is designed for serious stock, ETF, futures, and FX traders.

 

👉 It includes sophisticated trading capabilities, a comprehensive array of technical analysis tools and studies, customisable screeners, and charts, backtesting capabilities, real-time news, quotations, market heat maps, and more.

 

Top Features

➡️ The Federal Reserve Economic Database, the Centre for Financial Research and Analysis, and Morningstar are just a few of the free third-party research sources provided by TD Ameritrade to its clients.

➡️ In addition to TD Ameritrade’s online and mobile platforms, the highly rated thinkorswim platform provides desktop and mobile trading for professionals.

➡️ With 24/7 help by phone, text, fax, live chat, email, and social media, as well as in-person meetings at over 250 locations, TD Ameritrade’s customer service are unparalleled.

➡️ There is something for everyone at TD Ameritrade, from a vast array of low-cost mutual funds to complex products such as futures and currency trading.

➡️ paperMoney, TD Ameritrade’s trading simulator, enables users to practice their trading methods by providing them with $100,000 in virtual currency and a margin account to improve their purchasing power.

 

Pros and Cons

✔️ Pros❌ Cons
TD Ameritrade is a trusted online brokerage that accepts all types of investors and traders

TD Ameritrade does not offer any fractional shares

There is no minimum investment required when registering for an account


There are high margin rates

The broker offers a wide range of guides and training for educational purposes

There is a powerful web-based platform and mobile version with a customizable dashboard, custom alerts, real-time data, and advanced charting tools


There are several retail investor accounts to choose from

TD Ameritrade is one of the most reputable brokerage firms with strict regulation in the US

In addition to a wide range of investment options, TD Ameritrade also offers crypto trading

7. XTB

XTB

Overview

👉 In 2002, X-Trade was established as Poland’s first leveraged foreign currency brokerage firm. In 2004, to conform to new Polish rules, the company rebranded as X-Trade Brokers.

 

👉 The company changed its name to XTB Online Trading (XTB) in 2009 and went public in 2016, trading under the ticker code XTB on the Warsaw Stock Exchange.

 

👉 Traders can access xStation 5, XTB’s trading platform, using any browser across Android, Windows, and iOS on desktop, tablet, and phone platforms.

 

👉 XTB is a good option for traders who wish to reduce their expenses, whether it is the intrinsic cost of making a transaction (bid/ask spread) or not having to pay wire fees. Non-UK accounts are permitted up to 500:1 leverage, whereas UK accounts are limited to 30:1 leverage.

 

👉 XTB broker is a platform with unparalleled adaptability. Multiple of its rivals are unable to beat XTB owing to its numerous features. This is a remarkable platform that provides a wealth of alternatives in the realm of risky financial products.

 

👉 The platform has less functionality than others, but this makes it more user-friendly and hence excellent for non-professionals. Additionally, this absence of “clutter” allows you to begin immediately with minimum to no advice.

 

Top Features

➡️ XTB provides “negative balance protection,” a feature that has grown more prevalent among online brokers.

➡️ Customer service is emphasized by XTB, which offers 24-hour phone assistance, a dedicated account manager, and live chat.

➡️ Customers who seek to create a live account with XTB are not required to make a minimum deposit. However, this amount will be subject to the margin requirements of the lowest transaction size they intend to execute.

➡️ International customers with large account balances are eligible for cash back rebates and welcome incentives, but UK clients with significant trading volumes get cheaper spreads.

 

Pros and Cons

✔️ Pros❌ Cons
XTB offers exceptionally low spreads on major financial instrumentsThere are no guaranteed stops offered
XTB is well-regulated and offers client protectionThere 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

What are the features of the Best Stock Trading Platforms and Brokers in Kenya?

What are the features of the Best Stock Trading Platforms and Brokers in Kenya?

👉 The best trading platforms on our list include a variety of free stock trading applications, instructional materials, and other features.

 

👉 Considering this, the following are some of the characteristics that Kenyans must consider while determining which online stock trading platforms are more suitable for their unique trading needs and objectives.

 

Access to Mutual Funds

👉 While most brokers charge a fee for mutual fund trading, it is crucial to note that the majority also maintain a list of hundreds or thousands of funds that trade with no charges at all.

 

The overall Trading Software and Platform

👉 Some stock brokerage accounts provide regular traders with sophisticated online stock trading platforms and tools, as well as managed portfolio services from Robo-advisors. Other stock brokers use a more straightforward, user-friendly strategy.

 

👉 In addition, several provide superior investing applications that might be useful if you want to purchase and sell stocks from any location around the globe.

 

Commission Charges and Other Fees

👉 Free online stock and ETF transactions should be standard. Investors now pay zero costs at most online stock brokers, and some even provide commission-free options trading, which is especially advantageous for busy traders.

 

👉 Even some of the greatest online brokerages charge charges for mutual fund transactions and other services you may want, so comparing price structures is essential.

 

Research Offered alongside Stock Screeners

👉 A crucial advantage of having an online brokerage account is the ability to get a second opinion when necessary.

 

👉 Numerous brokers provide a comprehensive suite of third-party research as well as stock and fund screeners, allowing you to determine, for instance, the yearly costs for investing in a fund or obtain assistance sifting through your options using factors such as price-to-earnings ratio.

 

The ability to invest in ETFs

👉 Not only will the best ETF stock brokers provide commission-free online ETF trading, but they will also provide access to a vast selection of branded, low-cost ETFs.

 

👉 These branded ETFs are often managed by the stock broker’s own analyst teams and have incredibly low expense ratios.

 

A range of Options Instruments

👉 Not only will the finest ETF stock brokers provide commission-free online ETF trading, but they will also provide access to a vast selection of branded, low-cost ETFs. These branded ETFs are often managed by the stock broker’s own analyst teams and have exceptionally low expense ratios.

 

The Account Minimums

👉 Several of our preferred online stock brokers have account minimums, but the majority do not. Before choosing a broker, novice investors must confirm that they can fulfil any minimum investment requirements.

The Best Share Brokers in Kenya

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

 

Best Shares Broker for beginners in Kenya

Overall Rating

Min Deposit

$0 / 0 KES

Regulators

SEC, FINRA, CFTC, MAS

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, TD Ameritrade is the best Shares broker for beginners in Kenya. Due to its proficiency in investor education, TD Ameritrade is our top recommendation for novices.

 

👉 In addition to a strong instructional platform, TD Ameritrade can be straightforward to use and navigate for novice investors.

 

Best Low Minimum Deposit Shares Broker in Kenya

👉 Overall, XTB is the best Low Minimum Deposit Shares Broker in Kenya. XTB does not demand a minimum deposit to start a genuine account.

 

👉 On XTB’s xStation 5 platform, over 5,000 different financial items can be exchanged. Spreads at XTB begin as low as 0.8 pips, and micro-lot trading is permitted.

 

Best ECN Shares Broker in Kenya

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

👉 Overall, Exness is the best ECN Shares broker in Kenya. Exness is not only multi-regulated but offers 278 financial instruments, including share CFDs, that can be traded via MT4 and MT5.

 

👉 Exness is one of the best brokers for Kenyans and offers STP and ECN accounts denominated in KES.

 

Best Islamic / Swap-Free Shares Broker in Kenya

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

👉 Overall, FP Markets is the best Islamic / Swap-Free Shares broker in Kenya. FP Markets is a multi-asset broker based in Australia, and they handle over $1 billion in daily trading activity for customers in 80+ countries.

 

👉 FP Markets’ Islamic Account in Kenya offers raw spreads of 0.0 pips, making it an extremely competitive commission-based option.

 

Best Shares Trading App in Kenya

👉 Overall, CMC Markets is the best Shares trading app in Kenya. The mobile app from CMC Markets is well-organized and has many useful features.

 

👉 These features include research tools, robust charts, preset watchlists, built-in news and instructional material, and more. CMC Markets’ mobile app for Kenyan traders is fantastic.

 

Best Kenyan Shilling Trading Account Shares Broker in Kenya

Overall Rating

Min Deposit

USD 1 / 116 KES

Regulators

IFSC

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

300

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, SuperForex is the best Kenyan Shilling trading account Shares broker in Kenya. If you are looking for a versatile share trading platform, go no further than SuperForex, an online platform that offers access to more than 400 different assets.

 

👉 The best choice for Kenyans looking to avoid currency conversion costs is to open a KES-denominated account with SuperForex.

 

Best Lowest Spread Shares Broker in Kenya

Overall Rating

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

on Plus500’s website

👉 Overall, Plus500 is the best lowest spread Shares broker in Kenya. Plus500 offers Kenyans a no-fee trading experience, both when opening and closing positions.

 

👉 Plus500’s spreads start at 0.8 pips EUR/USD, and Plus500 has an innovative and popular trading platform.

 

Best Nasdaq 100 Shares Broker in Kenya

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

👉 Overall, HF Markets is the best Nasdaq 100 Shares broker in Kenya. HF Markets offers Kenyan traders access to global indices, including Nasdaq (under USA100).

 

👉 When trading instruments such as NASDAQ, Kenyans can expect typical spreads from 2 pips and leverage up to 1:50.

 

Best Volatility 75 / VIX 75 Shares 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, AvaTrade is the best Volatility 75 / VIX 75 Shares broker in Kenya. AvaTrade offers over 1,260 financial instruments and this list is steadily increasing. AvaTrade is one of a few brokers that offer VIX 75 through MetaTrader 4, MetaTrader 5, and a range of in-house platforms.

 

👉 Kenyans can trade the Volatility Index on AvaTrade from 0.15% spreads using up to 1:20 leverage.

 

Best NDD Shares Broker 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 NDD Shares broker in Kenya. FXTM is one of the best brokers for both emerging and frontiers markets.

 

👉 FXTM offers some of the best ECN and STP execution, with zero-pip spreads on popular instruments

 

Best STP Shares Broker 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 STP Shares broker in Kenya. FBS was founded in 2009 and is a broker that deals in foreign exchange and CFDs.

 

👉 Straight Through Processing (STP) and an Electronic Communications Network (ECN) are used in FBS’s hybrid broker concept, which is beneficial to Kenyans. With no dealing desk to intercept orders, clients may place trades at true market prices via the systems of liquidity providers.

 

Best Sign-up Bonus Broker in Kenya

Overall Rating

Min Deposit

USD 1 / 116 KES

Regulators

CySEC, FSC

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

4

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

👉 Overall, InstaForex is the best sign-up bonus broker in Kenya. For new accounts only, Instaforex will match your first deposit by 100%.

 

👉 Each new deposit you make into your Instaforex live account qualifies you for a 30% bonus. You can also take part in any of Instaforex’s many ongoing competitions. In addition, InstaForex also offers a no-deposit bonus for newly registered Kenyan traders.

Conclusion

👉 Trading platforms serve as the crucial connection between Kenyan traders, their broker, and the financial markets. Choosing the right platform and broker could be the difference between becoming a successful trader and losing your capital.

 

👉 Kenyan traders must understand what their trading needs and objectives are before they choose a stock trading platform, and our comprehensive list could serve as a helpful guideline for Kenyans.

FAQ

Which stock trading platform is suitable for beginner traders?

Overall, we recommend TD Ameritrade to new traders. TD Ameritrade has a lot to offer beginning investors, including an extensive learning centre.

 

Why do many stock traders lose money?

Most stock traders lose money because they make poor judgments based on a lack of market knowledge.

 

How does stock trading work?

Trading stocks entails purchasing and selling company shares to profit from their daily price fluctuations. Stocks’ short-term price changes are regularly monitored by traders, who want to purchase cheap and sell high.

 

What is the difference between stock trading and investing?

The frequency with which you trade equities is the key differentiator. Investors often purchase and hold for an extended period, whereas traders engage in more frequent buying and selling.

 

What is one of the best stock trading strategies for Kenyans?

Gain experience with a simulated trading account, and then deposit little sums initially to limit your risk exposure.

Beginning with this foundation, you can add to your total investment in little increments. However, you should never risk money that you cannot afford to lose.

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