Last Updated on September 7, 2022 by Patrick Mahinge
Kenya has a number of Forex traders who are highly successful. While their strategies vary, they all share one common trait: They are relentless in their pursuit of success.
These traders have had to overcome many obstacles to achieve their current level of success. But they have persevered, and continue to do so day in and day out.
In this post, we’ll take a look at 5 of the most successful Forex traders in Kenya and what makes them tick. If you’re looking to make a serious profit from currency trading, then these are the people you should be learning from.
One thing that all these traders have in common is that they started off small and gradually built up their accounts. They also use stop losses to protect their profits. If you’re looking to become a successful Forex trader in Kenya, then be prepared to learn and put in the hard work!
5 Most Successful Forex Traders in Kenya
Below are the 5 most successful forex traders in Kenya:
- Patrick Mahinge
- Ken Githaiga
- Paul Mugenda
- Silah Obegi
- Sylvia Muchai
Successful Forex Traders in Kenya
|Picture||Trader Name||Details||Forex Broker|
|Silah Obegi||EGM Securities|
|Sylvia Muchai||Scope Markets|
1. Patrick Mahinge – Most Successful Forex Trader in Kenya
Patrick Mahinge is one of the most well-known Forex traders in Kenya. He started trading in 2012 and has since become one of the most successful traders in Kenya. He achieved this by developing a unique trading strategy that combines technical analysis with fundamental analysis.
He mostly trades the major currency pairs like EUR/USD and GBP/USD at XM Forex.
In 2014, Patrick Mahinge founded Kenya Forex Firm, one of the first forex trading schools in Kenya. The school provides training and education on how to trade forex and other financial instruments. As a self-taught forex trader, Patrick has proved that it is indeed possible to learn how to trade forex and become a millionaire.
Patrick hails risk management and sticking to a trading strategy as the most important keys to becoming a successful forex trader. As a matter of fact, he never enters into a trade without a stop loss in place.
Patience, trading only when there is a high probability that the trade will go his way is also a characteristic that Patrick Mahinge describes as contributing to his success in the industry.
Patrick Mahinge is currently one of the most sought-after forex traders in Kenya and is often invited to speak at various conferences and events.
Patrick Mahinge has an estimated net worth of about $750,000. He founded a forex trade training school to help fellow Kenyans looking for a secure and lucrative investment opportunities.
2. Ken Githaiga
Ken Githaiga’s journey into becoming one of the best forex traders in Kenya is a story of persistence and unending learning. This is a story that every aspiring forex trader can relate to.
From the moment that Ken left college in 2008, he had a nagging feeling that he didn’t want to end up in a 5-9 office job. His quest was to work and earn money online but he at first didn’t know what kind of work he could find online.
After many weeks of searching and consulting, Ken Githaiga heard of online forex trading and the opportunities it offered to make money online in Kenya.
Making money with online forex trading was particularly attractive to Ken as he learned that he didn’t have to spend too many hours on the computer as is with the case with other online jobs such as content writing.
From the moment he heard about online forex trading, Ken was determined to become one of the most successful forex traders in Kenya. What followed was a journey of learning, consulting, and trading on demo accounts. Most of his knowledge was acquired from reading web articles on websites such as ForexFactory.com and watching YouTube videos.
Ken has recently started the Jay Forex Trading School where he trains aspiring forex traders how to become better forex traders. Ken Githaiga net worth has not been made public.
Ken Githaiga’s networth could be around $96,000. He founded the Jay Forex Trading School which has been doing quite well since its launch in 2020.
3. Paul Mugenda (Founder Paris Fx Kenya)
Preferred Broker: Deriv (Formerly Binary.Com)
Started Trading: 2014
In his mid-20s, Paul Mugenda is already a very successful forex trader in Kenya and a mentor for so many aspiring beginners in Kenya. But like every other trader on this list, Mugenda was not always like this. It took many years of toiling and learning to turn him into one of the top forex traders in Kenya.
In fact, before Paul Mugenda ever became a profitable forex trader, he had started as a tea leaves hawker in the busy Githurai 45 bus terminus and later worked as an insurance sales person to several insurance companies in Kenya.
In 2014, a friend showed Paul how to make money through forex trading in Kenya. He borrowed $300 as a starting capital, but unfortunately he lost all the money after he blew his trading account. It would take him many months to finally perfect his trading strategies and become profitable.
Currently, Paul prefers to trade binary options. He has made a name for himself in the industry and is considered by many as the best binary options trader in Kenya. His company Paris Fx not only trains on how to trade binary options but also offers trade signals to interested parties at one-time fee of $350.
Paul Mugenda’s networth is undisclosed but is estimated to be around $100,000.
4. Silah Obegi
Preferred Forex Broker: EGM Securities
Year Started Trading: 2012
Silah Obegi is another successful forex trader in Kenya. The graduate of a Business Management Bachelors degree from Moi University, Silah Obegi is the founder of the Nairobi School of Forex, one of the most renown forex trading schools in the country.
Silah is also the founder of MetaCapital, a finance company that offers innovative trading solutions to forex traders in Kenya.
5. Sylvia Muchai – Most Successful Female Forex Trade in Kenya
Sylvia Muchai is one of the most successful forex traders in Kenya, and she’s the real definition of pushing boundaries, and it is quite impossible to not admire her drive and charisma.
Her forex trading journey began as soon as she graduated from Kenyatta University with a bachelors degree in Finance. It was a journey, however, that was paved with peril. To start with, she blew her first $250 trading account barely 5 days after opening it. But that did not dampen her hopes of becoming a millionaire forex trader.
Day after day, for two straight years, Sylvia sought information of how to become a successful forex trader in Kenya. She read numerous trading books, devoured the BabyPips trading ecourse, opened numerous demo accounts, and attended trading seminars both online and offline.
During her initial trading years, Sylvia faced discouragement from forex trading mentors who would ask for an arm and a leg to teach her how to trade. The fees quoted would go to the upwards of $2,500. Even if she really wanted to learn how to trade, there was no way this fee was forthcoming. It was simply too much.
Tips for Becoming a Successful Forex Trader in Kenya
What does it take to be a successful Forex trader in Kenya?
Some people might think that it takes years of experience, or a certain natural talent. However, the reality is that anyone can become a successful Forex trader with the right approach. So, let’s discuss some of the key things you need to do in order to achieve success in the Forex market.
The first step to becoming a successful Forex trader is to educate yourself. This means learning about the basics of Forex trading, as well as studying the strategies that have been successful for other traders.
There are lots of great resources available online, including websites, e-books, YouTube Videos and online courses. It is also important to stay up-to-date with the latest news and events in the Forex market, so you can make informed trading decisions.
Develop a Solid Forex Trading strategy
Another key element of success in Forex trading is developing a sound trading strategy. There is no “one size fits all” approach to Forex trading, so it is important to tailor your strategy to fit your individual needs and risk tolerance.
Your forex trading plan should include your financial goals, your risk tolerance, and your entry and exit strategies. Without a plan, it will be very difficult to make consistent profits in the Forex market.
There are many different strategies available, so you should do your research and find one that suits your personality and goals.
Another important thing to remember is to always stay disciplined. Discipline is key in any form of trading, but it is especially important in Forex. This means sticking to your trading plan, even when things are going against you. It can be tempting to abandon your strategy when you are losing money, but this is often when emotions come into play and you make poor decisions.
- 5 Most Successful Forex Traders in Kenya
- Successful Forex Traders in Kenya
- Tips for Becoming a Successful Forex Trader in Kenya