You can choose any of the available account types including islamic forex trading accounts. However, changes to the regulation regarding the issuance of bonuses by CySEC have been a game changer, as traders will not be given bonuses by Cypriot binary options brokers. That's a lot of money and a lot of time, but don't worry, there are ways to overcome this issues very easy. You can view it for mathematical comparison.
What is Forex Trading in Kenya?
All the traders in the forex market enjoy some exclusive facilities like compensation in dollars, tax-free income e. Successful traders are those who guess it right when it comes to the price movement and thus make a huge amount of money while trading online. Take an example of one of the most successful Forex traders in Kenya — Ken Githaiga — he started his journey with nearly nothing in his hands but now he is labelled as an expert in this genre. In order to make it as a successful trader, you need to have certain traits similar to an entrepreneur.
The traits which one should possess to become a successful forex trader include:. The main secret to being successful is simulating a perfect trading strategy and being a perfect predictor of the price movement. There are many forex trading companies in Kenya. Here, we will provide you with the list of some of the forex bureaus in Kenya —.
For names of other forex bureaus, you can visit this link — https: After going through the previous sections, you might still be confused about the forex market, but do not worry, we are here to provide you with answers to some tricky questions regarding foreign exchange trading.
Forex trading simply means trading in currencies in the forex market. Except for the buying and selling practices, there are many other transactions like derivatives, forwards, spot contracts etc. In life, any form of investment offering huge returns always involves some amount of risk associated with it. So, you have to take the risk of getting huge returns. But we advise you to contact any financial adviser to minimize the risk as far as possible. Liverpool legend Steven Gerrard confirmed as Rangers boss.
This article has been published for informational purposes only. It has been written based on secondary research and information available on the internet. TUKO does not bear any responsibility for possible financial losses by applying any recommended trading procedure or strategy. Think it is important? Fund your account Request a Withdrawal. How much money can you lose in this trade?
How much can you gain? Now, make a decision if the trade is worth entering. If you can make 60 pips and lose 20, go for it. If it is the opposite ratio, stay out. All information on this page is subject to change. The use of this website constitutes acceptance of our terms of service and customer agreement. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.