Forex trading is the process of buying and selling (exchanging) currencies. The main aim of forex trading is to make a profit from the change in currency values. In order to start trading, you need open a live trading account with a forex broker. Here is our list of top brokers for new forex traders.
Broker | Features | Broker Review | Visit |
 | * 1:1000 leverage * 1200+ instruments * $5 min. deposit * CMA licence | ||
 | * 1:500 leverage * 1000+ instruments * $200 min. deposit * CMA licence | ||
 | * 1:400 leverage * CMA licence | ||
 | * 1:500 leverage * 10,000 instruments * $100 min. deposit * ASIC licence | ||
 | * 1:500 leverage * 80+ instruments * $200 min. deposit * ASIC licence | ||
 | * 1:1000 leverage * 200+ instruments * $1 min. deposit * CySEC licence | ||
 | * 1:2000 leverage * 250+ instruments * $50 min. deposit * CMA licence | ||
 | * 1:888 leverage * 1000+ instruments * $5 min. deposit * CySEC licence |
What Is A Forex Broker?
A forex broker is a company that facilitates forex trading. They give you access to the forex market and to the online trading platforms you need to make forex trades. To start, you simply need to open an account with a forex broker, go through the registration process, deposit your trading capital, then use the company’s trading platform to make your trades.
Is Forex Trading Safe?
Forex trading can be a great way to increase your monthly income and grow your wealth. That said, forex trading can be risky. It’s important to invest in your education and learn how to trade forex properly. It’s also important to only trade forex with a regulated, reputable forex broker.
How To Choose The Best Forex Broker
- Regulation – Make sure they are licensed by a reputable regulatory body. Look for forex brokers that also offer additional client fund safety and negative balance protection.
- Trading Conditions – Check that they have a wide range of trading instruments. Look for forex brokers in Kenya that also offer high leverage, low commissions, tight spreads.
- Minimum Deposits – Make sure that they offer at least one low-cost account type. Look for forex brokers with an affordable minimum deposit and with a wide selection of payment methods.
- Trading Tools – Check they offer free tools like trading calculators. Look for a forex broker that also offers access to more advanced tools such as EAs, chart indicators, trading signals.
- Forex Education – Make sure they can give you the educational resources you need to become a better online trader. Look for free access to trading courses, educational videos, and free guides.
- Customer Support – You want a broker offer good customer service. Look for a broker with a good online reputation and with a friendly, helpful customer support team.