If you are a Kenyan trader or investor looking for the best stock brokers and platforms, then you need to give our recommended ones below a try. Although there are many local brokerage firms in the country, these five will offer you access to foreign markets where you can diversify your portfolio.
Our best stock brokers have been thoroughly tested and reviewed by our team of experts, and we guarantee that they meet all the necessary requirements to get you started in the stock trading venture.
Our Top Stock Brokers & Platforms in Kenya:
- Best Broker For Stock and Shares Trading: AvaTrade
- Best Stock Trading Platform: Pepperstone
- Best CFD Stock Trading Platform: AvaTrade
In This Guide
Which is the Best Broker For Stock and Shares Trading in Kenya?
AvaTrade represents the top tier of online brokers.
With a combination of their own software and third-party platforms, you'll gain access to some of the best trading services and features.
✔ Easily integrated trading robots
✔ Commission-free trading
✔ A limited selection of assets
✔ Rather high spread on certain assets
✔ Easily integrated trading robots
✔ Commission-free trading
✗ A limited selection of assets
✗ Rather high spread on certain assets
Fees: 0% commission but spread on each trade
Demo Account: Yes
Min Deposit: £100
Deposit Options: Debit & Credit Cards, Skrill, Neteller, Webmoney
Assets: 1,000 assets
License: Central Bank of Ireland, ASIC, FSCA, FSA
AvaTrade excels as an overall stock and share broker for Kenyans because of its many offerings in the stock market. The Capital Markets Authority (CMA) regulates its services in Kenya, proving how safe it is for your trading capital.
The best thing about AvaTrade is that it doesn’t have restrictions involving traditional equity trading. So, this means that you can diversify your portfolio across various markets.
If you like stock CFD trading, AvaTrade connects you to world-class companies. You can also invest in shares on the Nairobi Securities Exchange (NSE) and major foreign exchanges, including the US New York Stock Exchange and UK’s London Stock Exchange.
The trading charges that AvaTrade offers are affordable for all types of Kenyan stock traders. There are no trading commissions, deposit, and withdrawal fees, and opening a trading account is also free. However, be prepared to pay spreads and a minimum deposit of $100.
Which is The Best Stock Trading Platform in Kenya?
✔ Fast execution and low-cost trading
✔ One of the largest retail brokers
✔ Fast account opening with no minimum deposit
✔ US traders not allowed
✔ No guaranteed negative balance protection
✔ Fast execution and low-cost trading
✔ One of the largest retail brokers
✔ Fast account opening with no minimum deposit
✗ US traders not allowed
✗ No guaranteed negative balance protection
Fees: Low trading fees, non-trading fees, forex fees, no deposit fees.
Demo account: Yes.
Min deposit: $0
Assets: 150 financial instruments.
License: ASIC, DFSA, FCA, CySEC, CMA, SCB and BaFin.
It’s easy to identify a good stock trading platform by the way it executes trades. Pepperstone is not only known for fast trade execution, but it is also reliable. Stock traders find it easy to use with highly customisable features.
Pepperstone platform works seamlessly on all devices, so if you are a Kenyan stock trader who’s always on the move, installing its app on your mobile device can be a wise decision for your trading benefits.
You will find different trading platforms on Pepperstone, including cTrader, Metatrader 4, and MetaTrader 5. You are free to choose a platform based on your trading demands. We guarantee the most outstanding experience that will keep you being a Pepperstone client for a long time.
Automating trades is something that mostly interests advanced traders. With Pepperstone, you have the opportunity to take the driver’s seat and manage your portfolio. You can also optimise your strategies and improve your overall trading experience with the adequate trading tools that Pepperstone offers.
Which is The Best CFD Stock Trading Platform in Kenya?
AvaTrade represents the top tier of online brokers.
With a combination of their own software and third-party platforms, you'll gain access to some of the best trading services and features.
✔ Easily integrated trading robots
✔ Commission-free trading
✔ A limited selection of assets
✔ Rather high spread on certain assets
✔ Easily integrated trading robots
✔ Commission-free trading
✗ A limited selection of assets
✗ Rather high spread on certain assets
Fees: 0% commission but spread on each trade
Demo Account: Yes
Min Deposit: £100
Deposit Options: Debit & Credit Cards, Skrill, Neteller, Webmoney
Assets: 1,000 assets
License: Central Bank of Ireland, ASIC, FSCA, FSA
Again, AvaTrade proves to be the best In stock CFD trading. We primarily recommend this type of stock trading to more advanced Kenyan traders because of the risks that require thorough analysis. However, if you are a beginner who believes that you have what it takes to earn profits in stock CFD, then feel free to give it a go.
AvaTrade will connect you to diverse stock CFD markets, some of which are not accessible to other stock brokers. You will enjoy your experience, especially in the foreign markets where you have a better chance of making more profits.
When it comes to AvaTrade’s trading platform, you have a variety to choose from. The platforms will either make you trade manually or automatically, depending on your stock trading experience. It has plenty of features, such as the AvaProtect, to help you advance your trading experience.
Stock CFD trading on AvaTrade is free of charge. However, Kenyan stock traders will still incur tight spreads on most instruments, making it a good choice for budget-conscious stock traders.
How To Choose The Best Stock Broker?
Kenya is the most developed country in east and central Africa and one of the fastest-growing in Africa. For this reason, it attracts global stock brokerage firms to offer trading and investment opportunities to Kenyans.
Since there are various local and foreign stock brokerage firms in Kenya, choosing the best one can be challenging. That is why you need to look for the following characteristics to make the best decisions.
- License/Regulations
The Capital Markets Authority (CMA) is the main financial regulator in Kenya, and for any stock broker to be considered legal, it must receive approval from the authority. Note that this measure is put in place to secure your investment funds because there are a plethora of fraudulent brokers waiting to strip you of your hard-earned money.
- Market assets
It is important to choose a broker that does not limit your abilities. Such stock brokers should not only allow access to the Nairobi Securities Exchange (NSE) but to international markets as well. They should also be loaded with plenty of stock trading instruments to keep you engaged for a longer period.
- Trading platforms
A trading platform of the best stock broker in Kenya should make your experience seamless and stress-free. It should include enough educational and research materials to suit your level of experience. You should also be able to test it when needed. Therefore, a stock broker with a demo account must be on your top list.
- Trading commissions/Fees
We strongly advise you to budget for your trading activities if you want to succeed as a stock trader in Kenya. Set aside the amount you wish to trade with and won’t mind losing because, just like any other business, stock trading can make you gain profits or lose your capital.
- Funding methods
The majority of Kenyan stock traders are used to the local modes of payments that most foreign brokers do not accept. It’s best to confirm which funding methods will ease your transactions before choosing a stock broker. It can either be credit/debit cards, bank transfers, e-wallets like PayPal, or even M-pesa, which is the most embraced local payment method in Kenya.
- Customer support
When you find customer support that handles your trading issues quickly and sensitively, you are most likely to enjoy your trading experience. The best stock brokers in Kenya have impeccable customer service and are reachable via live chats, calls, or emails.
Stock Trading in Kenya: Guide for Beginners
Many Kenyan nowadays are venturing into stock trading to support their income or rather build their nest egg. As a newbie, the thought of starting this venture can be scary, especially when you think of the risks of losing your money.
Do not agonise because if you choose the best stock broker by following the steps above, then you have a much higher chance of earning some good cash. You also need a stable internet, access to a desktop, impressive financial history, and a budget. Additionally, equip yourself with the right strategies and extensive knowledge because you cannot enter the battlefield unarmed.
Before you create a live trading account for stock trading in Kenya, make sure that you understand how the stock exchange markets work. Study the Nairobi Securities Exchange if your goal is to trade in the Kenyan market.
Consider choosing from our recommended stock brokers because they have been proved to be the best by expert researchers. They also let you access various global markets and diversify your portfolio.
FAQs
How do I start trading stocks in Kenya?
If you are over 18 years old, you are free to trade stocks in Kenya. Start by learning how stock trading works and choose a suitable broker like the ones in this guide. Create a trading account, make your first deposit, and connect to a wide range of markets to start trading.
How do I buy stock in Kenya?
A Capital Markets Authority regulated stock broker will make your stock purchasing easier and quicker. Once you access the markets you wish to trade in, You are free to buy stocks that you can afford.
Is Iron Trade legit in Kenya?
Yes. Iron trade is legit in Kenya, offering binary options trading platforms to Kenyans. It is one of the brokers that accept M-pesa as a mode of payment.
Can I invest with 100K in Kenya?
Yes. Stock brokers in Kenya have different requirements for you to start trading. Therefore, with 100K, you can find a stock broker to trade with, including these five in our mini-reviews above.
Can beginners invest in stocks with little money?
Yes. Most beginners are hesitant to start trading, and when they finally do, they want to start investing with little money. You can find brokers with low trading charges from our recommended ones above.
Conclusion
The benefit of using our best stock brokers in Kenya is that you are guaranteed your security and that of your funds. They are all regulated by the Capital Markets Authority (CMA) and allow access to the Nairobi Securities Exchange (NSE). These brokers will not limit your options since they also provide you with the necessary trading tools to support your experience. Additionally, they allow various payment methods, including M-pesa.
Note: No information, nor financial advice related to online trading is offered through the comment.
Trading Platforms, Brokers & Apps That We Tested:
- Markets.com
- 24Option
- IQ Option
- BDSwiss
- HotForex
- Trade.com
- Libertex
- Plus500
- XTB
- InstaForex
- IG Markets
- GKFX
- LionsFX
- Valutrades
- XM
- IronFX
- Blackwellglobal
- FPMarkets
- AmanaCapital
- Admiralmarkets
- Alvexo
- Bizintra
- Pepperstone
- Windsorbrokers
- FXPro
- ForexTime
- HYCM
- FXGrow
- TeleTrade
- Trader.online
- Marketscube
- Finmaxbo
- FXCC
- Oanda
- Forex.com
- LCG
- CMC Markets
- FXCM
- iForex
- IFC Markets
- Aaatrade
Is Trading Allowed In My Country?
CFD Regulation Country by Country. The CFD trading services we are listing in this article are available in the following countries.
Europe:
- Albania
- Bosnia & Herzegovina
- Bulgaria
- Croatia
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Iceland
- Ireland
- Italy
- Kosovo
- Latvia
- Lithuania
- Macedonia
- Malta
- Moldova
- Montenegro
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Russia
- Serbia
- Slovenia
- Spain
- Sweden
- Switzerland
- Turkey
- Ukraine
- United Kingdom
Excluded: Belgium
North America
- Belize
- Canada
- Costa Rica
- Cuba
- Guatemala
- Honduras
- Jamaica
- Mexico
- Nicaragua
- Panama
- Puerto Rico
- The Bahamas
Excluded: United States
South America
- Argentina
- Bolivia
- Chile
- Colombia
- Dominican Republic
- Ecuador
- Guyana
- Paraguay
- Peru
- Suriname
- Uruguay
- Venezuela
Excluded: Brazil
Africa
- Algeria
- Angola
- Benin
- Botswana
- Burkina Faso
- Burundi
- Cameroon
- Central African Republic
- Chad
- Democratic Republic of Congo
- Egypt
- Eritrea
- Ethiopia
- Gabon
- Ghana
- Guinea
- Guinea-Bissau
- Kenya
- Lesotho
- Liberia
- Libya
- Madagascar
- Malawi
- Mali
- Mauritania
- Morocco
- Mozambique
- Namibia
- Niger
- Nigeria
- Republic of the Congo
- Rwanda
- Sierra Leone
- Somalia
- South Africa
- South Sudan
- Sudan
- Swaziland
- Tanzania
- The Ivory Coast
- Togo
- Tunisia
- Tunisia
- Uganda
- Western Sahara
- Zambia
- Zimbabwe
Middle East
- Georgia
- Armenia
- Azerbaijan
- Iran
- Iraq
- Syria
- Lebanon
- Cyprus
- Israel
- Jordan
- Saudi Arabia
- Kuwait
- Bahrain
- Qatar
- United Arab Emirates
- Oman
- Yemen
Asia
- Afghanistan
- Bangladesh
- Cambodia
- China
- China
- India
- Indonesia
- Japan
- Kazakstan
- Kirgizistan
- Laos
- Malaysia
- Mongolia
- Myanmar
- North Korea
- Pakistan
- Papua New Guinea
- Philippines
- Singapore
- South Korea
- Sri Lanka
- Thailand
- Turkmenistan
- Uzbekistan
- Vietnam
Excluded: Hong Kong
Oceania:
- Australia
- New Zealand
Our Author:
Adam Jarfjord is a Swedish day trader, investor, and copywriter. He works as head of content at BullMarketz.com and has been providing editorial content within the financial sector for more than 5 years.
Read more about him by visiting his LinkedIn profile or contact us directly to learn more about the team.
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