In this article we explore the 5 Best Forex Brokers with a Minimum $1 Deposit in Kenya. A low minimum deposit means that beginner traders can experience a lower barrier of entry to the Forex market, without investing high initial capital.
The brokers on this list offer low minimum deposits alongside sound regulation and excellent trading conditions.
1.    FBS
Overview
FBS is an internationally regulated CFD broker that offers trading on a wide range of commodities, including forex, metals, energy, indices, stocks, and more than 35 cryptocurrencies.
A wide variety of accounts are available to suit traders of all skill levels, and FBS’s trading costs are cheaper than those of rival STP/ECN brokers.
Pros and Cons
| PROS | CONS |
| High leverage
Ultra-fast trade execution Low spreads and commissions |
Deposit and withdrawal fees |
Features
| Feature | Information |
| Regulation | CySEC |
| Minimum deposit from | $1 |
| Average spread from | 0.0 |
| Commissions from | ‎$6 |
| Deposit/Withdrawal Fees | Variable depending on method |
| Maximum Leverage | 1:3000 |
| Bonuses | 100% Deposit Bonus |
| Customer Support | 24/5 |
2.    Exness
Overview
Exness’ trading fees and spreads are among the most competitive in the industry, according to our Exness review.
Compared to other regulated brokers, their spread is quite minimal, and there are no hidden trading fees or commissions with the Pro account. The spreads on their Standard and Raw accounts are also quite modest.
Pros and Cons
| PROS | CONS |
| Well-regulated | |
| Tight spreads | |
| Over 130 currency pairs |
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Features
| Feature | Information |
| Regulation | CySEC, FCA |
| Minimum deposit from | $1 |
| Average spread from | 1.3 pips |
| Commissions from | 3 USD and 10 USD per 1 lot for CFDs |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:2000 |
| Bonuses | Standard +10% Bonus Programme |
| Customer Support | 24/5 – multilingual |
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3.    XTB
Overview
In addition to a wide range of tradable instruments, top-notch instructional resources, and good market research, XTB is a well-regulated broker. However, traders should keep in mind that XTB’s proprietary platform, xStation5, is the only one supported.
Pros and Cons
| PROS | CONS |
| Award-winning trading platform
Negative Balance Protection Well regulated |
Limited product portfolio |
Features
| Feature | Information |
| Regulation | KNF, FCA, CySEC and IFSC |
| Minimum deposit from | $1 |
| Average spread from | 1.02 pips |
| Commissions from | 0.08% of trade value with $8 minimum |
| Deposit/Withdrawal Fees | $30 on withdrawals of less than $50 |
| Maximum Leverage | 1:500 |
| Bonuses | $40 No Deposit Bonus |
| Customer Support | 24/5 |
4.    IG Group
Overview
IG is an excellent alternative for both beginner and experienced traders, offering competitive spreads, a wide variety of trading instruments, and a cutting-edge news, research, and education portal.
Pros and Cons
| Pros
Excellent customer support Advanced suite of technical indicators Secure and well-regulated trading environment |
Cons
Demo account is only available for 30 days, and not all platforms can be tested Limited range of currency options
|
Features
| Feature | Information |
| Regulation | FCA, FSCA |
| Minimum deposit from | $1 |
| Average spread from | Variable |
| Commissions from | £3.00 – £8.00 per trade for all types of assets |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:200 |
| Bonuses | None offered |
| Customer Support | 24/6 |
5.    Oanda
Overview
In addition to CFD trading, OANDA is a well-regulated, multi-faceted financial services provider. OANDA has a wide range of educational resources, cheap deposit requirements, and a strong concentration on the MT4 and MT5 trading platforms, which appeal to novice traders.
Pros and Cons
| Pros
User-friendly trading platform Low minimum deposit Low trading fees |
Cons
Lack of decent customer service High withdrawal fees Limited instruments for forex and CFDs |
Features
| Feature | Information |
| Regulation | FCA, RFED |
| Minimum deposit from | None |
| Average spread from | 1.6 pips |
| Commissions from | $0.01Â USD per trade |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:100 |
| Bonuses | None |
| Customer Support | 24/5 |