When it comes to Forex in Kenya, one question that constantly emerges in most conversations is “Is Forex trading gambling?” This may appear like a simple question with an obvious answer; however, a deeper understanding reveals that they’re quite different. The main difference between a gambler and a forex trader can be seen when both make a “play.” The chances of a gambler winning are never certain, and unless they are committing foul play, they will always believe the odds are stacked against them. Thus, there are always fewer chances to win than the house, or the odds are similar. Read on to find more about why one can relate Forex and gambling and how these are different! Forex tradingread more
Forex Traders Blog
Would you like to learn the “ins and outs” of the forex trading industry? Then our forex traders’ blog is the place to be!
On the internet, there are countless other blogs for forex traders. We know that!
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The majority of Kenyan traders are not getting the value-added content they require from these so-called educational blogs.
As a result, we aim to provide forex traders with content that is both educational and enjoyable.
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You will find a detailed look at forex traders (successful traders Kenyan), brokers, strategies (profitable), and how-to sections in our traders’ blog.
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Forex bureaus must observe anti-money laundering and counter-terrorism financing measures when providing remittance and payment services in and outside Kenya. A licensing program for Forex Bureaus was established in 1995 to stimulate competition in the foreign exchange market and narrow the spread in the market. The Central Bank of Kenya Act (Cap 491) regulates forex bureaus in their capacity as authorised dealers. You must follow the Central Bank of Kenya’s guidelines to set up a forex bureau in Kenya. You will receive a license to run a forex bureau after complying with all the requirements. Below are the steps to start a forex bureau in this country. What is the Forex bureau? A forex bureau is a window of anread more
Kenya’s forex market is legal and regulated. Only a few brokers accept local deposits and withdrawals, however. As a result, Kenyan traders can choose only from the very few highly regulated Forex brokers with MPesa. Over 200,000 Kenyan households (2% of all households) have been lifted out of extreme poverty due to the rapid expansion of mobile money. As a result, 185,000 women are no longer engaged in subsistence farming and work in businesses or sales positions. Kenya was the first African country to launch a mobile money platform, MPesa, in 2007. Only a few reputable Forex brokers accept MPesa payments in Kenya. This is because MPesa brokers are mostly unregulated or unsafe, as is the case with most brokersread more
Recent decades have seen forex trading become one of the most lucrative activities. Additionally, it became popular in the U.S. and Europe, as well as in Africa. So it’s not surprising that there are many successful forex traders in Kenya. Among the few African countries with decent regulations and an enabling environment for traders, Kenya is rarest. Trading forex is considered a highly specialised field that requires an in-depth understanding of the markets, a good intuition, and a lot of determination. Several Kenyan traders have achieved success and made themselves known in the country. In this article, we’ll discuss the top five Kenyan traders’ success stories. Top five successful Kenyan traders Even though the Forex industry in the country isread more
Currently, M-Pesa is the most popular payment method for Forex brokers. Traders can easily deposit and withdraw their funds while forex trading in Kenya using M-Pesa. This payment method is considered to be the finest payment method for trading Forex by many traders. With M-Pesa, it is possible to solve some of the fundamental problems in payment, including the issue of convenience, speed, and simplicity. As a result, M-Pesa has secured a top position among Forex payment solutions by focusing on these key points and excelling at them. Throughout this guide, we will explore what M-Pesa is, its advantages, interesting features, and how FX traders can use it to maximize its potential. What exactly is M-Pesa, and how does itread more