Wednesday, May 25, 2022

5 Best Forex Brokers with Minimum $1 Deposit in Kenya

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

Rufus Kamau: What I learned after losing Sh. 2 million trading forex

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

👉Open a Free Trading Account Now

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 $0.01 USD per trade
Deposit/Withdrawal Fees None
Maximum Leverage 1:100
Bonuses None
Customer Support 24/5

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