Withdraw one pip forex brokers once volume is complete. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits.
We are committed to the fair handling of reviews and posts regardless of such relations. All rights reserved under US and international law. Welcome to Forex Kenya, the first website dedicated to forex trading in Kenya. For those of you who are not familiar with the forex market, it is enough to say that forex stands for ‘Foreign Exchange’ and it represents the trading of currencies one against another.
By trading on the forex market, Kenyans can make money by correctly guessing which currency is going to raise and which one is going to fall. To easily explain how forex trading works we will give you a simple example. Let’s consider that you bought 10,000 US Dollars in January 2015 at the rate of 90. 75 Kenyan Shillings for one dollar. This is how you make money by trading currencies. In the above example you probably saw that you needed 10,000 dollars to make a profit of about 1,000 in six month. That’s a lot of money and a lot of time, but don’t worry, there are ways to overcome this issues very easy.
The broker is a specialized company that creates the perfect environment for traders to take advantage of the currency fluctuations in no time. Opening an account with a forex broker will allow you to trade on the international forex markets with huge amounts of money and make profits much faster. Forex brokers offer leverage in order to allow their clients to trade high amounts of money. A broker that gives you a leverage of 1:200 allows you to trade 200 dollars for every dollar you have on your account. If you make a deposit of 100 USD you are able to trade worth of 20,000 USD because of the leverage effect. Why is the broker allowing this?
Here is another example to explain why the broker gives you leverage. USD, the most traded currency pair in the world. 1031 which means that one Euro costs 1. In order to buy 10,000 Euros you need to pay 11,031 US Dollars.
Let’s say a trader buys 10,000 Euros through his forex broker at the above mentioned rate, and two days later sells them at 1. To make a long story short, leverage is given by the brokers in order to help traders make bigger winnings at the risk of higher losses in shorter times. The more you trade, the better it is for the broker, because of the so called ‘spread’, which is the difference between the buy and sell price of each currency pair. Luckily for us, there are many international brokers that accept traders from Kenya and where you can easily deposit and withdraw money. After checking the largest forex brokers in the world I have selected the ones that are most friendly with Kenyans and have the best trading conditions as well as the most accessible deposit and withdrawal methods.
All of them offer high leverage. They also have plenty of educational material to learn more about trading forex and how to make money trading forex online. Choosing a forex broker can be a very daunting task because the number of available options is overwhelming. With so many brokers advertising themselves as being the best, people go to specialized websites to read reviews and see broker rankings hoping they will find which broker is their best choice. But the more they read, the harder the choice becomes. If you are serious about investing in the forex market and are looking for a reliable broker, I am certain that you’ve already seen plenty of lists filled with brokers, and you’ve probably read a lot of both positive and negative reviews about many of them.