Looking for the best forex trading app in Kenya? Look no further! In this blog post, we’ll show you our top picks for the best forex trading apps in Kenya, so you can start making money on the go.
Whether you’re a beginner or a seasoned trader, these trading apps will give you the tools and information you need to make successful trades.
We will provide a brief description of each forex trading app to help you make an informed decision. Our selections are based on four criteria: ease of use, customer service, features offered and price. We hope this article will make choosing a Forex trading app easier for you! So, without further ado, let’s get started!
10 Best Forex Trading Apps in Kenya
|Broker||Official Website||Regulation||Min Deposit||Mobile App|
|Visit Broker||USD 5||XM App|
|CMA||USD 5||FxPesa Trader|
|Visit Broker||CMA, FCA, CySEC, FSCA||USD 5||HF App|
|Visit Broker||CySEC, ASIC, FSCA, IFSC||USD 3||FBS Trader|
|CySEC, FCA,||USD 5||MT4 App|
|CMA, FSA, FSCA, FSC||USD 5||Exness Trader App|
|FSC||USD 10||R Mobile Trader|
|FCA, ASIC, CySEC, CMA, SCB, BaFIN, DFSA||USD 10||TradingView|
|Download App||NA||USD 5||IQ Option App|
|Visit Broker||NA||USD 10||Olymp Trade App|
- XM Forex
- Olymp Trade
- IQ Option
- Pepperstone cTrader
So, with that in mind, here is a list of the best forex trading apps in Kenya.
Detailed Reviews for The Best Forex Trading Apps in Kenya
XM Forex is a well-recognized and respected forex broker that offers investors a range of trading options. The company has been in business since 2009 and is registered with the Financial Services Commission (“FSC”) under license number 000261/158.
XM Forex offers tight spreads, fast execution, and 24/5 customer support. The company also offers a wide range of educational materials to help investors learn about forex trading and achieve success in the market.
Read the full XM Forex Review.
The XM Forex Trading App allows you to trade a variety of assets. These assets include: currencies, stocks, commodities, cryptocurrencies and indices. The app also provides expert market research and trading ideas that can help you make informed decisions about your trades.
The XM Forex Trading App is available for both Android and iOS devices.
If you are new to forex trading, the XM Forex Trading App can be a great way to get started. The app’s user-friendly interface makes it easy to navigate and find the information you need. The app also provides educational materials that can help you learn about the forex market and how to trade effectively.
The XM Forex Trading App offers a range of features that can benefit traders of all experience levels. These features include:
- A wide selection of assets to trade
- Real-time market data
- Forex signals to help you make informed decisions
- Educational materials to help you learn about forex trading
The HotForex Trading App is one of the best trading apps in Kenya. It is a mobile app that allows traders to access their trading account on the go. The app is available for Android and iOS devices, and offers traders a range of features, including:
- Access to live prices and charts
- Trade execution
- Order management
- Account information
- Alerts and notifications
- Market analysis
The HotForex Trading App is a powerful and convenient tool for traders who want to stay connected to the markets while on the go. It offers a wide range of features that allow traders to execute trades, manage orders, and keep track of their account status and investment goals.
The app also provides alerts and notifications so traders can stay informed of market changes. In addition, the market analysis section offers insights into current market conditions so traders can make informed trading decisions.
We included HotForex in the list of the best trading apps in Kenya because of their superb copy trading platform. In all the research that we did, no other platform came close to the ease with which HFCopy, HotForex’s proprietary trading platform works.
If you’re looking for a forex trading app that offers an easy way to copy the trades of others, HotForex is a great option. With this app, you can follow the moves of successful traders and benefit from their experience.
In addition to forex pairs, the HotForex app also supports trading in a range of other markets, including stocks, indices, commodities, and cryptocurrencies. So no matter what your preferred asset class is, you can trade it on the go with the HotForex app. Let’s take a look at some of the key markets that are available to trade on the app.
Overall, the HotForex Trading App is an essential tool for traders who want to stay connected to the markets 24/7.
3. LiteFinance (Formerly LiteForex)
LiteForex is a popular online forex broker that offers a variety of trading services and products. LiteForex was founded in 2005 and is headquartered in St. Vincent & the Grenadines. The company has a wide range of clients, including retail and institutional investors.
LiteForex offers a variety of trading platforms, including the MetaTrader 4 (MT4) platform, which is one of the most popular trading platforms in the world. The MT4 platform is available for desktop, web, and mobile devices. LiteForex also offers the MetaTrader 5 (MT5) platform, which is designed for advanced traders. In addition to the MT4 and MT5 platforms, LiteForex also offers a free forex signals app.
The LiteForex Trading App is a mobile app that allows you to trade Forex and CFDs on the go. It offers a wide range of features, including an intuitive interface, real-time quotes, technical analysis tools, and more. You can also use the app to access account information, make deposits and withdrawals, and more.
The LiteForex Trading App is available for Android and iOS devices. It’s free to download and easy to use. So if you’re looking for a mobile trading solution, the LiteForex Trading App is a great option.
LiteForex offers a variety of trading products, including forex, commodities, indices, and stocks. The company also offers a range of account types, including demo accounts and real accounts. LiteForex is one of the few brokers that offer Islamic accounts.
The Liteforex app is also one of the few brokers that offer forex trading in Kenya using Mpesa. For the ECN account, the minimum deposit is $50. Deposits and withdrawals using Mpesa are instant.
To cap it off, LiteForex has a copy trading platform that let’s copy trades of the most successful traders on the platform. With enough due diligence, you can ensure maximum profitably on the LiteForex trading app by copying other traders. Click here to open an account now.
4. Olymp Trade
Olymp Trade is a binary options broker that has been providing traders with a platform for trading binary options since 2014. The company is headquartered in St. Vincent and the Grenadines and is registered with the Financial Services Authority (FSA) of that country.
The Olymp Trade app is available for both Android and iOS devices, and it is very user-friendly. Overall, we think Olymp Trade is a great choice for online trading.
The Olymp Trade platform allows traders to trade in binary options on a variety of underlying assets, including stocks, commodities, currencies, and indices. The minimum deposit required to open an account with Olymp Trade is $10, and the minimum trade size is $1.
One thing that I like about Olymp Trade is that they offer a demo account which can be used to practice trading before risking any real money. The demo account allows you to trade using virtual funds, and it can be used to learn the platform and test out trading strategies.
Olymp Trade also offers a wide range of educational materials, including e-books, video tutorials, and webinars. These materials can help traders learn about binary options trading and how to use the Olymp Trade platform.
Overall, I was impressed with the Olymp Trade platform. It is easy to use and offers a variety of features that can help traders make profitable trades. I would definitely recommend Olymp Trade to anyone looking for a reliable binary options broker.
5. IQ Option
I have personally used the IQ Option trading app and found it to be a very user-friendly platform. It is available as a desktop app, mobile app, or web browser app. I like that I can use it on any device, whether I am at home or on the go.
IQ Option is a binary options trading platform that allows users to trade a variety of financial instruments and assets. These include stocks, commodities, indices, and forex pairs. The platform is extremely user-friendly and ideal for both novice and experienced traders alike.
One of the stand-out features of IQ Option is its proprietary trading engine – called ‘IQ Bot’. This is a custom-built piece of software that provides traders with an edge in the market, allowing them to make more profitable trades.
The app can be downloaded for free from both the App Store and Google Play. The registration process is also very simple and takes just a few minutes. After registering, you will need to fund your account in order to start trading. There are many different deposit options available, including credit cards, e-wallets, and bank transfers.
The IQ Option platform has a wide range of features, including:
- A variety of charts and indicators to help you analyze price trends and make informed trading decisions
- A library of educational resources to help you learn about Forex trading and develop your strategies
- 24/7 customer support in case you need assistance with your account or have questions about the markets
- Multiple deposit and withdrawal methods, so you can choose the option that best suits you
Overall, IQ Option is an excellent binary options trading platform that offers traders a wide range of features and tools for successful trading. It’s well-designed, easy to use, and provides traders with a real edge in the market. If you’re looking for a quality binary options trading experience, then IQ Option is definitely worth considering.
If you’re looking for a comprehensive, all-in-one trading solution, the Pepperstone cTrade app is definitely worth considering. It’s packed with features and tools that will appeal to both experienced traders and newcomers alike.
The app has a clean and user-friendly interface, making it easy to navigate. You’ll find everything you need at your fingertips, including advanced charting capabilities, real-time market data, and a wide range of order types.
There’s also a handy news feed keeping you up-to-date with all the latest financial news and events. And if you need any help or support, the team at Pepperstone are always on hand to assist.
In terms of costs, the Pepperstone cTrade app is competitively priced and there are no hidden fees or commissions. Overall, it’s an impressive trading solution that’s sure to appeal to a wide range of traders.
If you’re a beginner forex trader, FxPesa by EGM securities is probably the best forex trading app you can join. The registration is hassle-free, the support is out of this world, and the broker even offers you a chance to go for classes and seminars that they organize across the country.
You can Join my Free Forex Trading Newsletter to be informed whenever FxPesa is conducting seminars and classes across the country. Click here to Join.
What makes Fxpesa the best trading app in Kenya and even more attractive to forex traders in Kenya is the deposits and withdrawal methods that they offer. You can easily fund your account and withdraw your profits using local payment methods including Mpesa, Airtel Money, and Equity Bank’s EazzyPay.
Additionally, the minimum deposit at FxPesa is as low as $5 (Ksh 500). This gives a chance for anyone interested in online forex trading to sample out the markets without investing too much of their capital. From there, you can decide whether online forex trading is the thing for you or not.
FxPesa also offers a demo account that you can use to practice and perfect your forex trading strategies.
FxPesa offers FxPesa Mobile apps for both Android and iOS. They also have the MT4 platform for traders who want to trade forex on their laptops or desktop computers.
And just in case you were wondering whether FxPesa is legit, the answer is a resounding yes. FxPesa was the first broker to obtain a non-dealing desk trading license from the Capital Markets Authority (CMA). The broker obtained its trading license in 2019 and there has been few to zero complaints about the broker ever since.
Here’s a list of other CMA Licensed Forex Brokers that are safe to use.
8. Exness – Best Forex Trading App in Kenya for Cent Accounts
Exness is one of the leading forex brokers in the world, offering a wide range of trading products and services to its clients. The company has been in operation for over 10 years and has built up a large client base of satisfied customers.
The Exness trading app is one of the best trading apps in Kenya, and it is easy to see why. The app provides traders with all the tools they need to trade forex successfully, including real-time quotes, charts, news and analysis. The app is available for both iOS and Android devices, and it is free to download from the App Store or Google Play.
For intermediate forex traders who might not have sufficient capital but still want to feel like they are trading the real deal, nothing beats the Exness Standard Cent Account.
For this account, the minimum deposit is $1, with a recommended initial deposit of $50. The money reflects in your account as 100 units (100 cents). Depositing $10 will reflect as 1000 units. And depositing $50 will reflect as 5000.
With the Exness cent account, you can use leverage up to 1:2000 which allows you to control a trade size of $2000 with only $1 in your account.
You can easily deposit into your Exness trading account using Mpesa and withdraw your profits using the same channel.
However, Exness does not have an Mpesa paybill number. To complete payment on Exness using Mpesa, you will have to log into your account and navigate to the Mpesa Deposit Option.
After that, you will be redirected to a payment processor where you’ll enter your phone number and click on pay. Have your phone nearby as a pop-up will appear instructing you to put your Mpesa Pin number to complete payment. And that’ll be it. The money reflects into your Exness trading account almost instantly.
Also Read: How to Choose a Forex Broker in Kenya
6. Olymp Trade – Best App for Trading Binary Options in Kenya
The Olymp Trade trading app is a binary options trading platform and is probably the easiest app to download and start tinkering around with the financial markets. You could literally download the app on your phone or tablet and start trading immediately.
Upon registration, traders are awarded a $10,000 demo account. The demo account gives you a feel of the trading platform and let’s you try out different trading strategies.
However, although you can practice trading with the demo account, any amounts earned through demo trading are not withdrawable. To be able to make withdrawals, you’ll need to deposit real money into the trading app.
Olymp Trade Minimum Deposit
The minimum deposit at Olymp Trade is $10. It is however recommended that you start trading with at least $50 (5,000/=). The best deposit and withdrawal options for Kenyan traders is through a bank card, and I highly recommend the NCBA Loop debit card.
A lot of Kenyans want to know whether Olymp Trade has an Mpesa PayBill Number or whether it is even possible to deposit money to Olymp Trade using Mpesa. Unfortunately, Olymp Trade does not support Mpesa.
Olymp Trade has revolutionized the binary trading industry, and apart from their intuitive mobile trading app, they now also offer the MT4 trading platform for the more advanced traders.
7. IQ Option Trading App
IQ Options started off as a binary options trading app but quickly transitioned into offering other tradeable financial instruments including stocks, forex, and cryptocurrencies.
IQ option has won many industry awards and received growing reviews from financial market analysts and enthusiasts. This is due to its reliability and professional services that it offers to traders all over the world. For these reasons, IQ Options also makes it in our top 10 list of the best trading apps in Kenya.
Choosing The Best Forex Trading App in Kenya
If you are new to forex trading platforms or apps, you want an interface that is simple and easy to understand. Some Forex platforms offer an easy-to-use interface which only contains the necessary information to let you start trading quickly. Look for a platform that has features which are easily accessible and do not require too much scrolling or searching through menus and categories.
Variety of features
Before signing up for any type of service or Forex app, make sure you are aware of what is available to you. Some Forex apps offer more than just charts and order entry systems. If your application offers alerts, technical analysis tools, news feeds, video tutorials, e-books and other services related to trading, this can be a great advantage to have. Also, certain tools are more beneficial than others depending on your experience level. If you are just starting out in Forex trading, for example, having access to video tutorials and webinars is extremely beneficial.
When you trade online or use an application, problems will arise. That is a given. However, you want to make sure that there is a customer service department available for you when those problems arise. In order to choose the best Forex trading app in Kenya, it is necessary to research what type of support is offered and how accessible they are at different times. By assessing their response time as well as their knowledgebase, you can find out how quickly you will receive help when trying to solve an issue.
As with any online service or application, security is extremely important. Before signing up for a platform or putting money into your trading account, you want to make sure that the application has proper encryption and security protocols in place. This will protect your account from being hacked and ensure that every session is secure.
One of the best ways of choosing a Forex trading platform is to see what other people have to say about them. Although some reviews may be biased because of a personal preference, it is still possible to get a good idea of how the application works and what its limitations or benefits are. In addition, if you discover that a majority of the reviews are negative, this should be a red flag and may not be worth your time or money.
There are websites such as Forex Peace Army that specialize in user-generated forex broker reviews. Before deciding on a trading app, go to such websites and have a look at what other people are saying about the trading platform.
Which is the Best Trading App in Kenya?
XM is the best trading app in Kenya. Traders in Kenya enjoy expedited registration on the app.
- 10 Best Forex Trading Apps in Kenya
- Detailed Reviews for The Best Forex Trading Apps in Kenya
- Choosing The Best Forex Trading App in Kenya
- Customer service
- Which is the Best Trading App in Kenya?