Trading on the currency exchange in Kenya can be advantageous for both local and foreign investors. The Kenyan shilling’s value against other currencies varies based on the desire of the investor to hold assets in shillings, as well as the perception of other trading partners about the country’s potential.
XM
XM is a broker with a high trust rating and has been operating in Kenya since 2006. They offer excellent customer service, minimal fees, and account financing. As a result, they are a great choice for new traders. The company has offices in 196 countries and has a customer support team that speaks 30 languages.
Pepperstone
Pepperstone offers its clients a wide range of trading services to cater to all levels of experience. These services include competitive commissions, no deposit fees, low average spreads, and a top-rated customer support team. In addition to providing a wide range of trading instruments, Pepperstone also allows clients to use leverage, up to 1:500. However, this leverage should be considered carefully.
FBS
As a reputable international broker, FBS offers Kenyan residents the opportunity to trade on the currency exchange in a safe and regulated environment. It has an affordable entry-level account and over 100 crypto pairs to choose from, and it also provides an easy mobile trading app. Traders should be wary of high leverage, which can wipe out a small account very quickly. FBS also caters to beginner traders with educational materials and 24-hour customer support. In addition, traders should be aware that FBS is a partner of the Traders Union of Kenya and provides optimal trading conditions.
RoboForex
Forex trading is legal in Kenya, where residents can access the services of large international brokers. In order to operate in the country, Forex brokers must obtain a license from the Capital Markets Authority, or CMA. In order to trade on the currency exchange, residents of Kenya must have a minimum deposit of two hundred and fifty thousand/= and must commit to a six-month lock-in period.
Scope Markets
Scope Markets is a broker in Kenya and the site offers two types of accounts. There are spread only and commission based accounts, and they both have a minimum deposit of $20. If you want to invest in gold, you can open an account with a spread of 0.2 pips and a $7 commission per lot. The silver account does not charge a commission and only charges a variable spread per lot. You can also get negative balance protection and leverage of 1:400.
ATI
When you’re planning a trip to Kenya, you’ll want to make sure that you know what to expect from the various institutions. While Kenya has a robust financial sector, there are some things you should be aware of when making your transaction. For example, it’s important to make sure that you can exchange your money at a reliable exchange rate. You’ll also want to make sure that you understand all of the rules regarding money exchange in Kenya.
Tanzania’s shilling
The Tanzanian shilling is a unit of currency used throughout East Africa. It is the East African counterpart of the Kenyan dollar. It is written as x/y where x is the number of shillings above one cent and y is the number of cents. It is not uncommon to see the shilling prefixed with TSH for distinction.
Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) is the regulatory body for the Cyprus Stock Exchange (CSE). The country is an EU member state and its operations are in compliance with the MiFID financial harmonization law. CySEC supervises the operations of investment firms that trade on the CSE and other markets in Cyprus, as well as Licensed Investment Services Companies, Collective Investment Funds, and Mutual Fund Management Companies. It also awards operating licences to investment firms that operate in Cyprus.