Forex Brokers in Kenya

News | February 10, 2022, 13:01 PM | The content is supplied by a Guest author

Foreign exchange trading, forex for short, is the largest market globally by far, with an average daily turnover of around $1.4 trillion. Compare this to the stock market, which has around $30 billion daily turnovers. However, forex trading in Kenya using mpesa is still a young actor in Kenya and has fully gripped the Kenyan people. This may be because of many factors, including lack of awareness and interest, but the few brokers in the market have been able to do well enough with their forex trading services.

1. Exness:

This Kenya forex broker is a product of Exness Group, which was started in London, UK. In 2003 the company branched operations into China and then into Kenya. Exness has many offices in the country, including one at Saritcentre and another on KimathiStreet. Exness is registered by the Central Bank of Kenya and has achieved a lot in the business. It has been three years since its registration, and in that time, it has been able to transfer a lot of money into the country.

2. Kassai forex brokers

Kassai is a Kenyan forex broker which was founded in 2007. It has its offices located on Lilian Ngoyi Street in Nairobi. It also has an office in Mombasa, which was launched in 2009. The company made a name for itself by putting a lot of effort into its web marketing. This is why it has increased its customer base from 300 to over 2000 in a short period. In addition to its marketing strategies, Kassai has maintained a good customer base by providing them with excellent service. The company's website is accessible to traders from all over the world, and it has many other services, including a mobile app for Android devices.

3. Fortis FX

This forex broker was started in 2008, and it has its headquarters located at the Saritcentre. It is one of the newest forex brokers in Kenya and is still expanding its branch network. It provides different services to customers, including those from Kenya, Europe, and other African countries.

4. Midland Forex

This is another Kenya forex broker that was started in 2011. The company has two branches located at the Saritcentre and on KimathiStreet. It has more than 100 traders who use its services to trade in forex. One of its strongest features is its efficient customer service.

5. XM

XM is a Panama based broker that started operations in 2008, and it is one of the forex brokers in Kenya that has been able to attract a large number of clients. It has over 100,000 traders who are enjoying the company's services. It has achieved the feat by providing traders with many excellent services, including risk management tools, a mobile app, and good customer support services.

Conclusion

The forex market in Kenya is still at a very early stage and is yet to reach its peak. Forex brokers have been able to play a big role in this regard by creating awareness about the business. However, Kenyan brokers are yet to compete with others worldwide regarding efficiency and services.