Best Day Trading Platforms and Brokers in Kenya 2024

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Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
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Michael MacKenzie
Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.
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With an emerging market and strong economic position in the African continent, Kenya offers opportunities for day traders. However, to trade key export commodities like coffee or stocks listed on the Nairobi Securities Exchange (NSE), you’ll need an online broker.

The Capital Markets Authority (CMA) oversees day trading platforms in Kenya. Residents can also open accounts with overseas brokers, however it’s important to adhere to the CMA’s regulations and Kenya’s tax rules.

We’ve narrowed down the best day trading brokers in Kenya, after testing each platform thoroughly. Many of these platforms offer a terrific range of financial markets plus convenient deposits, such as Kenya’s own M-Pesa.

Top 10 Platforms For Day Trading In Kenya

Following our first-hand evaluations, these 10 trading platforms stand out as the best for Kenyan day traders:

Click a broker for details
  1. 1
    AvaTrade
    20% Welcome Bonus up to $10,000

    Ratings
    4.8 / 5
    4.3 / 5
    4.5 / 5
    3.8 / 5
    4.3 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4 / 5

    $100
    0.01 Lots
    1:30 (Retail) 1:400 (Pro)
    ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
    WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
    Skrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, Boleto
    USD, EUR, GBP, CAD, AUD
  2. 2
    FXTM
    30% up to $100 via Exinity Ltd

    Ratings
    4.3 / 5
    4 / 5
    3.8 / 5
    4 / 5
    2.8 / 5
    3.8 / 5
    3.8 / 5
    3.5 / 5
    4.8 / 5
    4.4 / 5

    $200
    0.01 Lots
    1:2000
    CySEC, FCA, FSCA, FSC
    Forex, CFDs, Indices, Commodities, Stocks
    FXTM App, MT4, MT5
    Neteller, Skrill, Visa, WebMoney, Perfect Money, Western Union, Credit Card, Google Wallet, PayRedeem, Maestro, GlobePay
    USD, EUR, GBP
  3. 3
    Deriv.com

    Ratings
    3.5 / 5
    4.5 / 5
    4.5 / 5
    4 / 5
    4 / 5
    4.1 / 5
    2.5 / 5
    3 / 5
    4.2 / 5
    4.5 / 5

    $5
    0.01 Lots
    1:1000
    MFSA, LFSA, VFSC, BFSC
    CFDs, Multipliers, Forex, Stocks, Indices, Commodities
    Deriv Trader, MT5
    Neteller, Visa, Skrill, WebMoney, FasaPay, Perfect Money, Diners Club, Banxa, Paytrust, Wire Transfer, Mastercard, Credit Card, JCB Card, Sticpay, Trustly, Volet, Paysafecard, AstroPay, Maestro, Airtm, Boleto, JetonCash
    USD, EUR, GBP, AUD
  4. 4
    Exness

    Ratings
    4.5 / 5
    4.3 / 5
    4.2 / 5
    4.8 / 5
    4.3 / 5
    4.5 / 5
    4.3 / 5
    3 / 5
    4.4 / 5
    4.3 / 5

    $10
    0.01 Lots
    1:2000
    FSA, CySEC, FCA, FSCA, FSC, CBCS
    CFDs, Forex, Stocks, Indices, Commodities, Crypto
    Exness Trade App, MT4, MT5, TradingCentral
    Wire Transfer, Credit Card, Visa, Mastercard, Bitcoin Payments, Boleto
    USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR
  5. 5
    Pepperstone
    CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.

    Ratings
    4.6 / 5
    4 / 5
    3.8 / 5
    4.4 / 5
    4.4 / 5
    4.6 / 5
    4.3 / 5
    4 / 5
    4.4 / 5
    4.1 / 5

    $0
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
    CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
    MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
    Visa, Mastercard, Credit Card, Debit Card, PayPal, Wire Transfer, POLi, UnionPay, BPAY, Neteller, Skrill
    USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
  6. 6
    XM
    $30 No Deposit Bonus When You Register A Real Account

    Ratings
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4.3 / 5
    4 / 5
    4.5 / 5
    4.5 / 5
    4.5 / 5
    4.7 / 5
    3.9 / 5

    $5
    0.01 Lots
    1:1000
    ASIC, CySEC, DFSA, FSC, FSCA
    Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
    MT4, MT5
    Credit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-Pesa
    USD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF
  7. 7
    IC Markets

    Ratings
    4.6 / 5
    4 / 5
    3.5 / 5
    4.6 / 5
    4 / 5
    4.5 / 5
    4 / 5
    3.5 / 5
    3.1 / 5
    4.2 / 5

    $200
    0.01 Lots
    1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
    ASIC, CySEC, FSA, CMA
    CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
    MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
    PayPal, Skrill, Neteller, Visa, UnionPay, Wire Transfer, Rapid Transfer, Mastercard, POLi, BPAY, Credit Card, Klarna, Swift, SafeCharge
    USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
  8. 8
    Eightcap

    Ratings
    4.3 / 5
    4 / 5
    3.6 / 5
    3.8 / 5
    4.3 / 5
    4 / 5
    3.5 / 5
    3 / 5
    4.8 / 5
    4.4 / 5

    $100
    0.01 Lots
    1:500
    ASIC, FCA, CySEC, SCB
    CFDs, Forex, Stocks, Indices, Commodities, Crypto
    MT4, MT5, TradingView
    Neteller, Skrill, Visa, UnionPay, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer, FasaPay, BPAY, PayPal, Dragonpay, PIX Payment
    USD, EUR, GBP, CAD, AUD, NZD, SGD
  9. 9
    DNA Markets

    Ratings
    3 / 5
    4 / 5
    4 / 5
    3.9 / 5
    3.5 / 5
    3.6 / 5
    1.8 / 5
    1.6 / 5
    4.8 / 5
    4.4 / 5

    $100
    0.01 Lots
    1:500
    ASIC
    CFDs, Forex, Indices, Commodities, Stocks, Crypto
    MT4, MT5
    Credit Card, Debit Card, Wire Transfer, BPAY, Skrill, Neteller, Bitcoin Payments, Bitwallet, AstroPay, Mastercard
    USD, EUR, GBP, CAD, AUD, NZD, SGD
  10. 10
    FOREX.com
    20% Welcome Bonus Up To $5000

    Ratings
    4.9 / 5
    4 / 5
    4.3 / 5
    4.6 / 5
    4.6 / 5
    4.3 / 5
    4.8 / 5
    4.5 / 5
    3.6 / 5
    3.8 / 5

    $100
    0.01 Lots
    1:400
    NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA
    Forex, CFDs, Stocks, Indices, Commodities, Futures, Options, Crypto
    MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
    Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Here is a summary of why we recommend these brokers:

  1. AvaTrade - AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.
  2. FXTM - FXTM is a top-rated forex and CFD broker established in 2011 and operating across 4 continents. The company is secure and regulated by leading authorities, including the FCA and CySEC. Offering 1000+ day trading markets and three account types, they cater to all levels of trader.
  3. Deriv.com - Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.
  4. Exness - Exness is a Cyprus-based forex and CFD brokerage established in 2008. With over 800,000 clients, several awards and reputable licensing, the broker has maintained its position as a highly respected global brand. Active day traders can access the popular MT4 and MT5 platforms, raw spreads and multiple account types.
  5. Pepperstone - Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
  6. XM - XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC. 100% deposit bonus + further offers up to 4500$
  7. IC Markets - IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
  8. Eightcap - Eightcap is a multi-regulated forex and CFD broker established in Australia in 2009. The broker has proven popular with active day traders, providing 1,000+ instruments with tight spreads and notable improvements in recent years, integrating the leading TradingView platform, alongside AI-powered financial calendars and algo trading tools with zero coding experience required.
  9. DNA Markets - DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 800+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.
  10. FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

Best Day Trading Platforms and Brokers in Kenya 2024 Comparison

Best Day Trading Platforms and Brokers in Kenya 2024 Comparison
Broker Minimum Deposit Markets Platforms Leverage Regulator
AvaTrade logo $100 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade 1:30 (Retail) 1:400 (Pro) ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM
FXTM logo $200 Forex, CFDs, Indices, Commodities, Stocks FXTM App, MT4, MT5 1:2000 CySEC, FCA, FSCA, FSC
Deriv.com logo $5 CFDs, Multipliers, Forex, Stocks, Indices, Commodities Deriv Trader, MT5 1:1000 MFSA, LFSA, VFSC, BFSC
Exness logo $10 CFDs, Forex, Stocks, Indices, Commodities, Crypto Exness Trade App, MT4, MT5, TradingCentral 1:2000 FSA, CySEC, FCA, FSCA, FSC, CBCS
Pepperstone logo $0 CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade 1:30 (Retail), 1:500 (Pro) FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
XM logo $5 Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures MT4, MT5 1:1000 ASIC, CySEC, DFSA, FSC, FSCA
IC Markets logo $200 CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) ASIC, CySEC, FSA, CMA
Eightcap logo $100 CFDs, Forex, Stocks, Indices, Commodities, Crypto MT4, MT5, TradingView 1:500 ASIC, FCA, CySEC, SCB
DNA Markets logo $100 CFDs, Forex, Indices, Commodities, Stocks, Crypto MT4, MT5 1:500 ASIC
FOREX.com logo $100 Forex, CFDs, Stocks, Indices, Commodities, Futures, Options, Crypto MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral 1:400 NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA

AvaTrade

"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."

Rebecca Holden, Reviewer

AvaTrade Quick Facts

Bonus Offer20% Welcome Bonus up to $10,000
Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
RegulatorASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM
PlatformsWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:30 (Retail) 1:400 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD

Pros

  • WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day traders
  • Recently introduced AvaFutures offers an alternative vehicle to speculate on over 35 markets with low day trading margins
  • AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more

Cons

  • Traders from the US are not accepted
  • A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
  • There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders

FXTM

"FXTM is a good pick for day traders seeking low forex commissions on the MetaTrader 4 platform. That said, the range of other assets is not extensive for those looking to diversify, especially stocks and cryptocurrencies."

Rebecca Holden, Reviewer

FXTM Quick Facts

Bonus Offer30% up to $100 via Exinity Ltd
Demo AccountYes
InstrumentsForex, CFDs, Indices, Commodities, Stocks
RegulatorCySEC, FCA, FSCA, FSC
PlatformsFXTM App, MT4, MT5
Minimum Deposit$200
Minimum Trade0.01 Lots
Leverage1:2000
Account CurrenciesUSD, EUR, GBP

Pros

  • Beginners can access a strong range of free educational materials and short-term market insights, including a podcast hosted by the brand’s expert team
  • Customer support is reliable and available in 30+ languages, making FXTM a top choice among global traders
  • The broker has a good reputation with multiple industry awards and oversight from top-tier regulators like the CySEC

Cons

  • There are limited e-wallet payment options compared to alternatives
  • Withdrawal fees apply, including a 30 EUR fee on bank wire withdrawals
  • Spreads are mediocre in the commission-free accounts, with typical EUR/USD spreads around 1.9 pips - the industry average is around 1.2 pips

Deriv.com

"Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock. "

Rebecca Holden, Reviewer

Deriv.com Quick Facts

Demo AccountYes
InstrumentsCFDs, Multipliers, Forex, Stocks, Indices, Commodities
RegulatorMFSA, LFSA, VFSC, BFSC
PlatformsDeriv Trader, MT5
Minimum Deposit$5
Minimum Trade0.01 Lots
Leverage1:1000
Account CurrenciesUSD, EUR, GBP, AUD

Pros

  • Deriv bolstered its short-term trading opportunities in 2024 with accumulator options on simulated indices featuring up to 5% growth rates
  • Beginners and experienced day traders can access a good range of 20+ technical indicators in Deriv Trader vs 30+ in MT5
  • Deriv continues to offer fast and reliable 24/7 support and the WhatsApp service is particularly convenient

Cons

  • There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
  • The range of 100+ assets trails some competitors such as Quotex which offers 400+
  • There's no loyalty program or rebate scheme for high volume traders

Exness

"Exness remains an accessible broker for all experience levels, though experienced day traders will particularly appreciate the ultra-low commission rates, fast withdrawals and high-quality charting software."

Rebecca Holden, Reviewer

Exness Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto
RegulatorFSA, CySEC, FCA, FSCA, FSC, CBCS
PlatformsExness Trade App, MT4, MT5, TradingCentral
Minimum Deposit$10
Minimum Trade0.01 Lots
Leverage1:2000
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR

Pros

  • Highly competitive spreads, reduced for USOIL and BTCUSD in 2024, are available from 0 pips and low commissions from $2 per side
  • There's excellent 24/7 multilingual customer support via telephone, email and live chat
  • Top-tier licensing with the FCA and CySEC and a strong reputation with over 10 years in business

Cons

  • There are several regional restrictions for retail traders including the USA, Europe and the UK
  • There are no promotional deals or loyalty schemes for high-volume day traders
  • Unlike most competitors, Exness doesn't provide its own education section

Pepperstone

"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."

Christian Harris, Reviewer

Pepperstone Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
RegulatorFCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
PlatformsMT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:500 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

Pros

  • There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
  • Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.
  • Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.

Cons

  • Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
  • There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading.
  • Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.

XM

"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."

Rebecca Holden, Reviewer

XM Quick Facts

Bonus Offer$30 No Deposit Bonus When You Register A Real Account
Demo AccountYes
InstrumentsForex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
RegulatorASIC, CySEC, DFSA, FSC, FSCA
PlatformsMT4, MT5
Minimum Deposit$5
Minimum Trade0.01 Lots
Leverage1:1000
Account CurrenciesUSD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF

Pros

  • The broker offers premium research including market sentiment, fundamental insights and strategy builders
  • XM continues to deliver diverse and multilingual educational materials and offers a useful live education schedule for its webinars and insights
  • Transparent and low fees with spreads from 0.0 pips that will help protect day trading profit margins

Cons

  • PayPal deposits are not supported
  • There's $5 inactivity fee after only 3 months, though this won't affect active traders
  • There is weak regulatory oversight through the global entity

IC Markets

"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."

Christian Harris, Reviewer

IC Markets Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
RegulatorASIC, CySEC, FSA, CMA
PlatformsMT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
Minimum Deposit$200
Minimum Trade0.01 Lots
Leverage1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

Pros

  • IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
  • As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
  • You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.

Cons

  • There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
  • The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
  • Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.

Eightcap

"Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."

Christian Harris, Reviewer

Eightcap Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto
RegulatorASIC, FCA, CySEC, SCB
PlatformsMT4, MT5, TradingView
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, SGD

Pros

  • With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.
  • After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.
  • Eightcap stands out with a selection of powerful trading tools, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.

Cons

  • The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
  • In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
  • Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.

DNA Markets

"DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading. "

Jemma Grist, Reviewer

DNA Markets Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Indices, Commodities, Stocks, Crypto
RegulatorASIC
PlatformsMT4, MT5
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, SGD

Pros

  • You can access low trading fees with spreads from 0.0 pips in the Raw account and zero non-trading fees
  • Convenient account funding is available with 7 base currencies, a $100 deposit and a wide range of payment methods
  • The broker provides 24/5 customer support with response times of <2 minutes during testing

Cons

  • Although it continues to strengthen its client base and reputation, DNA Markets lacks the track record of top brokers like Vantage
  • Unlike many alternatives, there are limited educational and research tools for traders seeking an all-in-one solution
  • Despite access to MT4 and MT5, there is no proprietary trading app for seamless account management whilst on the go

FOREX.com

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

Christian Harris, Reviewer

FOREX.com Quick Facts

Bonus Offer20% Welcome Bonus Up To $5000
Demo AccountYes
InstrumentsForex, CFDs, Stocks, Indices, Commodities, Futures, Options, Crypto
RegulatorNFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA
PlatformsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:400
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Pros

  • The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
  • There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
  • FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.

Cons

  • Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
  • Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
  • Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.

Methodology

To find the best day trading platforms in Kenya, we searched our directory of 500 online brokers and pinpointed all those that accept Kenyans.

We then ranked them by their overall rating, which is derived from 100+ data points and findings from our hands-on tests.

  • We checked that each platform accepts Kenyan day traders.
  • We verified that each broker is regulated by a credible authority.
  • We favored brokers with a wide range of markets.
  • We prioritized brokers with competitive day trading fees.
  • We ensured each broker offers reliable charting platforms.
  • We focused on brokers with transparent leverage and margin.
  • We examined each broker’s execution speeds.
  • We investigated each broker’s account funding.

DayTrading.com broker testing methodology overview

How To Choose A Day Trading Broker In Kenya

Following our extensive assessments, there are several factors to consider when choosing a broker:

Choose A Trustworthy Broker

The most trusted brokers are regulated by credible authorities, helping to protect your account from trading scams.

Indeed, the Kenyan regulator has ramped up its warnings to investors following a rise in fraud, including a notorious fake investment scam where 13,000 investors lost 1.1 billion shillings, as reported by Bizna.

In Kenya, the Capital Markets Authority (CMA) oversees trading brokers and is considered a ‘yellow-tier’ body in line with our Regulation & Trust Rating. However, with the CMA not licensing many brokers, Kenyans can also register with international platforms.

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Opting for a broker with ‘green tier’ regulation will give you the highest level of financial safeguarding, for example, negative balance protection and segregated accounts.
  • AvaTrade maintains its position as a highly regulated broker, with licenses from reputable authorities including ASIC (Australia) and CySEC (Cyprus). The firm is also trusted, with a long history since 2006 and robust security measures in place, including negative balance protection for all clients.

Choose A Broker With Diverse Markets

Day traders can benefit from broad access to global financial markets, allowing them to diversify portfolios and capitalize on various trading opportunities.

Kenyan traders may be interested in local markets, like currency pairs involving the KES, or stocks listed on the Nairobi Securities Exchange (NSE), such as BOC Kenya Ltd and Safaricom. Kenya is also a major exporter of tea, clothes and coffee, according to data from Statista.

On the downside, we’ve found not many brokers grant access to these markets, providing Kenyans with fewer domestic markets than traders in Western nations.

Infographic showing popular day trading markets in Kenya

  • Pepperstone offers a superb range of 1300+ global markets spanning forex, stocks, indices, ETFs and commodities, including major Kenyan export commodities like coffee and gold. Its extremely fast 30ms execution speeds and impressive fill rate of 99.90% also make it a superb option for day traders, with Pepperstone earning our ‘Best Overall Broker’ in 2023.

Choose A Broker With Competitive Fees

Low trading fees, notably spreads and commissions, are important for day traders who often need to protect slim profit margins.

Together with non-trading costs like deposit and withdrawal fees, plus charges for transferring in Kenyan Shillings, you should assess these fees against the overall service you get – higher fees may be justified if you get premium tools.

For example, let’s say a broker offers slightly higher commissions than others you’ve seen, but offers an AI-powered economic calendar with live fiscal updates from the Central Bank of Kenya with impact ratings, or a filterable stock screener for NSE-listed equities. Such features may elevate your day trading experience.

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While spreads on highly liquid assets such as EUR/USD can reach as low as 0.0 pips at leading brokers, spreads on less liquid assets like USD/KES are likely to be much wider.
  • FOREX.com continues to offer some of the lowest fees in the industry, with spreads as low as 0.0 pips on major assets and commissions from $5 per $100k. You also get low-cost deposits, plus superior tools, notably Trading Central, which is great for supporting trading decisions.

Choose A Broker With Powerful Charting Platforms

The best brokers in Kenya offer a range of charting platforms and research tools, creating a comprehensive environment for short-term trading strategies.

Most brokers offer industry favorites, MetaTrader 4 and MetaTrader 5, occasionally alongside their own bespoke terminals (often tailored to beginners).

There are also more contemporary solutions like TradingView, offering some of the most user-friendly research tools I’ve seen.

I particularly appreciate the integrated panel with stock data on Kenyan stocks, including income statements and technical signals. Below you can see how I was able to streamline my analysis of Kenya Airways Ltd.

author image
Jemma Grist
Author
TradingView platform showing Kenya Airways chart with integrated stock data
TradingView – Kenya Airlines Stock
  • Exness offers a great selection of platforms to suit all needs and experience levels, including MT4, MT5 and a TradingView-powered proprietary terminal. It’s also a stand-out option for Kenyan traders because it’s one of the few day trading platforms we’ve tested to support a KES-based account.

Choose A Broker With Fast Execution

Securing fast and efficient execution is key for traders using fast-paced strategies like scalping and algo trading.

The best brokers achieve speeds of less than 100 milliseconds alongside low latency (the measure of time delay) and low slippage (the difference in requested price and filled price).

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Together, these can ensure you lock in optimal prices in fluctuating markets, for example, volatile Kenyan stocks like Crown Paints Kenya.
  • IC Markets consistently achieves ultra-fast speeds of 35 milliseconds via institutional-grade execution technology, making the broker a great pick for serious day traders. I also love its ‘Market Buzz’ tool, which intuitively delivers analysis and sentiment insights.

Choose A Broker With Clear Leverage Requirements

Leverage allows you to gain exposure to a larger position while only putting down a small deposit. But while this allows you to magnify your potential gains, it can also significantly increase losses.

For example, if I want to speculate on the USD/KES pair with leverage of 1:30 using a $500 initial margin, this means the value of my trade would increase to $15,000.

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Use strict risk management to help curb losses. A stop-loss order, for example, will automatically close your position when it reaches a predetermined level.
  • FXTM provides very high leverage up to 1:2000 (not recommended for beginners). There’s also a handy margin calculator to help you determine how much you need to open and maintain a position.

Choose A Broker With An Accessible Minimum Deposit

Choose a broker with a minimum deposit that suits your budget. You’ll typically need up to 250 USD (approximately 33,250 KES) to open a live account, based on our tests, though many brokers let you start with much less.

Additionally, consider what payment methods the broker offers as this may impact processing times and transaction costs. According to research by Adyen, M-Pesa remains a leading mobile payment solution in Kenya, offering a convenient way for Kenyan traders to make deposits.

  • XM offers an ultra-low minimum deposit of just $5, making it ideal for beginners or those on a budget. It’s also one of the few brokers that offers deposits via M-Pesa, offering ultimate convenience for Kenyan traders.

FAQ

Who Regulates Day Trading Platforms In Kenya?

The Capital Markets Authority (CMA) regulates day trading platforms in Kenya.

That said, the CMA isn’t as active as other prominent regulators, such as the FCA and the ASIC, and Kenyans can open accounts with overseas platforms.

If you go down this route, we recommend choosing a tightly regulated broker and ensuring you still follow the CMA’s rules and tax requirements from the Kenya Revenue Authority (KRA).

Which Is The Best Broker That Accepts Day Traders In Kenya?

Use our list of the best day trading platforms in Kenya to find a suitable option.

If you’re looking for competitive fees, for example, FOREX.com offers spreads from 0.0 pips on major assets. It also offers some of the best analysis tools and resources we’ve seen. Alternatively, XM is one of a select few brokers to support deposits in Kenya’s very own M-Pesa, while Exness distinguishes itself with its KES account.

Article Sources

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com