Nairobi Stock Exchange
Nairobi Stock Exchange brokers facilitate trading the NSE, a leading African exchange based in Kenya and one of the fastest-growing economies in the region. Online trading is available for customers around the world via registered Nairobi Stock Exchange brokers, with a variety of instruments and markets, including shares, bonds and derivatives.
This article will explore what the NSE is and how it works, its history and structure, as well as the various indices, top listed companies, requirements and where to find today’s live share prices. It will also explain how you can compare and choose brokers with access to the Nairobi Stock Exchange. Alternatively, we have listed top brokers and platforms offering NSE trading in 2024 below.
Nairobi Stock Exchange Brokers
These are the 10 best brokers for trading on the Nairobi Stock Exchange:
-
1
FOREX.comActive Trader Program With A 15% Reduction In Costs
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:50NFA, CFTCForex, Stocks, Futures, Futures OptionsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentralWire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN -
2
NinjaTrader
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Stocks, Options, Commodities, Futures, CryptoNinjaTrader Desktop, Web & Mobile, eSignalACH Transfer, Debit Card, Wire TransferUSD -
3
eToro USAInvest $100 and get $10https://www.daytrading.com/ is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$10$10SEC, FINRAStocks, Options, ETFs, CryptoeToro Trading Platform & CopyTraderACH Transfer, Debit Card, PayPal, Wire TransferUSD -
4
OANDA USCFDs are not available to residents in the United States.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)OANDA Trade, MT4, TradingView, AutoChartistWire Transfer, Visa, Mastercard, Debit Card, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD -
5
DNA Markets
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:500ASICCFDs, Forex, Indices, Commodities, Stocks, CryptoMT4, MT5Credit Card, Debit Card, Wire Transfer, BPAY, Skrill, Neteller, Bitcoin Payments, Bitwallet, AstroPay, MastercardUSD, EUR, GBP, CAD, AUD, NZD, SGD -
6
IGForex trading involves risk. Losses can exceed deposits.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:250 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOBCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
7
Pocket Option50% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$50$1MISABinary Options, Currencies, Commodities, Stocks, Indices, CryptosWeb, MT4, MT5Wire Transfer, Credit Card, Bitcoin Payments, Volet, Perfect Money, Visa, Mastercard, Debit Card, WebMoney, FasaPay, Ethereum Payments, Maestro, JetonCashUSD -
8
IQCent20% to 200% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$250$0.011:500IFMRRCBinary Options, CFDs, Forex, Indices, Commodities, CryptoOnline Platform, TradingViewCredit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, MastercardUSD, EUR -
9
RedMars
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
€2500.01 Lots1:30 (Retail), 1:500 (Pro)CySECCFDs, Forex, Stocks, Indices, Commodities, CryptosMT5Credit Card, Wire Transfer, Debit Card, Sticpay, FasaPay, Bitcoin Payments, Trustly, PayPal, Skrill, Neteller, Klarna, Mastercard, VisaUSD, EUR -
10
Interactive Brokers
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$0$1001:50FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMAStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, CryptocurrenciesTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentralCheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit CardUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF
Here is a short summary of why we think each broker belongs in this top list:
- 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.
- NinjaTrader - NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
- eToro USA - eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.
- OANDA US - OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.
- 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.
- IG - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- Pocket Option - Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.
- IQCent - IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.
- RedMars - Launched in 2020, Cyprus-based RedMars offers competitive spreads on more than 300 instruments and leverage up to 1:500. Three accounts are available - Standard, Pro and VIP - serving a range of budgets and experience levels, with a fast and fully digital account opening process.
- Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
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 Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Stocks, Futures, Futures Options |
| Regulator | NFA, CFTC |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Stock Exchanges
FOREX.com offers trading on 14 stock exchanges:
- Australian Securities Exchange (ASX)
- Borsa Italiana
- CAC 40 Index France
- DAX GER 40 Index
- Dow Jones
- Euronext
- FTSE UK Index
- Hang Seng
- Hong Kong Stock Exchange
- IBEX 35
- Japan Exchange Group
- Nasdaq
- S&P 500
- SIX Swiss Exchange
Pros
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
- Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
Cons
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
- 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.
NinjaTrader
"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
Tobias Robinson, Reviewer
NinjaTrader Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, Stocks, Options, Commodities, Futures, Crypto |
| Regulator | NFA, CFTC |
| Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD |
Stock Exchanges
NinjaTrader offers trading on 2 stock exchanges:
- Chicago Mercantile Exchange
- New York Stock Exchange
Pros
- NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
- Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract
- NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
Cons
- There is a withdrawal fee on some funding methods
- Non forex and futures trading requires signing up with partner brokers
- The premium platform tools come with an extra charge
eToro USA
"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."
eToro USA Quick Facts
| Bonus Offer | Invest $100 and get $10 |
|---|---|
| Demo Account | Yes |
| Instruments | Stocks, Options, ETFs, Crypto |
| Regulator | SEC, FINRA |
| Platforms | eToro Trading Platform & CopyTrader |
| Minimum Deposit | $10 |
| Minimum Trade | $10 |
| Account Currencies | USD |
Stock Exchanges
eToro USA offers trading on 3 stock exchanges:
- Dow Jones
- New York Stock Exchange
- S&P 500
Pros
- The $10 minimum deposit and straightforward account opening process means beginners can get started quickly
- The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
- A free demo account means new users and prospective day traders can try the broker risk-free
Cons
- There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools
- There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos
- Average fees may cut into the profit margins of day traders
OANDA US
"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."
OANDA US Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA) |
| Regulator | NFA, CFTC |
| Platforms | OANDA Trade, MT4, TradingView, AutoChartist |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD |
Stock Exchanges
OANDA US offers trading on 0 stock exchanges:
Pros
- There's a strong selection of 68 currency pairs for dedicated short-term forex traders
- Beginners can get started easily with $0 minimum initial deposit
- Day traders can enjoy fast and reliable order execution
Cons
- There's only a small range of payment methods available, with no e-wallets supported
- The range of day trading markets is limited to forex and cryptos only
- It's a shame that customer support is not available on weekends
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. "
DNA Markets Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Indices, Commodities, Stocks, Crypto |
| Regulator | ASIC |
| Platforms | MT4, MT5 |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Stock Exchanges
DNA Markets offers trading on 14 stock exchanges:
- Australian Securities Exchange (ASX)
- CAC 40 Index France
- DAX GER 40 Index
- Dow Jones
- Euronext
- FTSE UK Index
- Hang Seng
- Japan Exchange Group
- Nasdaq
- New York Stock Exchange
- Russell 2000
- S&P 500
- SIX Swiss Exchange
- Toronto Stock Exchange
Pros
- Short-term trading strategies are permitted including scalping and automated trading using Expert Advisors (EAs)
- After a recent upgrade, there are now over 800 assets available to trade via CFDs, with a particularly impressive range of 120+ cryptos
- The broker provides 24/5 customer support with response times of <2 minutes during testing
Cons
- Unlike many alternatives, there are limited educational and research tools for traders seeking an all-in-one solution
- Although it continues to strengthen its client base and reputation, DNA Markets lacks the track record of top brokers like Vantage
- Despite access to MT4 and MT5, there is no proprietary trading app for seamless account management whilst on the go
IG
"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."
IG Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting |
| Regulator | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB |
| Platforms | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:250 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Stock Exchanges
IG offers trading on 20 stock exchanges:
- Australian Securities Exchange (ASX)
- Bombay Stock Exchange
- Borsa Italiana
- Deutsche Boerse
- Dow Jones
- Euronext
- Hong Kong Stock Exchange
- IBEX 35
- Japan Exchange Group
- Korean Stock Exchange
- London Stock Exchange
- National Stock Exchange Of India
- Russell 2000
- S&P 500
- SIX Swiss Exchange
- Shanghai Stock Exchange
- Shenzhen Stock Exchange
- Tadawul
- Taiwan Stock Exchange
- Toronto Stock Exchange
Pros
- The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading
- The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met
- IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis
Cons
- While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
- IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors
- Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests
Pocket Option
"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."
Pocket Option Quick Facts
| Bonus Offer | 50% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos |
| Regulator | MISA |
| Platforms | Web, MT4, MT5 |
| Minimum Deposit | $50 |
| Minimum Trade | $1 |
| Account Currencies | USD |
Stock Exchanges
Pocket Option offers trading on 11 stock exchanges:
- Australian Securities Exchange (ASX)
- CAC 40 Index France
- DAX GER 40 Index
- Dow Jones
- Euronext
- FTSE UK Index
- IBEX 35
- Japan Exchange Group
- Nasdaq
- New York Stock Exchange
- S&P 500
Pros
- Extremely fast and smooth sign-up process that takes less than 2 minutes
- The MetaTrader platforms offer integrated analysis with helpful technical summaries for short-term traders
- Well-funded traders who deposit $1000+ can qualify for a 2%+ payout boost, more tradable assets and exclusive perks
Cons
- The MISA is a weak regulator with limited investor protection for retail traders
- Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders
- The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month
IQCent
"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "
IQCent Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
| Regulator | IFMRRC |
| Platforms | Online Platform, TradingView |
| Minimum Deposit | $250 |
| Minimum Trade | $0.01 |
| Leverage | 1:500 |
| Account Currencies | USD, EUR |
Stock Exchanges
IQCent offers trading on 0 stock exchanges:
Pros
- IQCent is one of the few binary options brokers that also offers a copy trading service for hands-off traders
- CFD trading fees are competitive based on tests, including 0.7 pips on major forex pairs such as EUR/USD
- There's an accessible $0.01 minimum stake for new day traders with a small budget
Cons
- The market analysis is very basic with limited technical summaries and insights from analysts
- IQCent trails binary brokers like Quotex with its narrow investment offering of around 100 assets with no stocks
- IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month
RedMars
"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."
RedMars Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Cryptos |
| Regulator | CySEC |
| Platforms | MT5 |
| Minimum Deposit | €250 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Account Currencies | USD, EUR |
Stock Exchanges
RedMars offers trading on 15 stock exchanges:
- Australian Securities Exchange (ASX)
- CAC 40 Index France
- DAX GER 40 Index
- Dow Jones
- Euronext
- Hong Kong Stock Exchange
- IBEX 35
- Japan Exchange Group
- London Stock Exchange
- Nasdaq
- National Stock Exchange Of India
- New York Stock Exchange
- S&P 500
- Shanghai Stock Exchange
- Shenzhen Stock Exchange
Pros
- The broker is one of a limited number of firms to offer an account specially designed for VIPs with premium support and invites to exclusive events
- Clients in the EU, in particular, can trade with peace of mind knowing RedMars is authorized by the CySEC with up to €20K compensation available through the ICF in the event of bankruptcy
- RedMars offers one of the best platforms for day trading, MT5, hosting 21 timeframes, dozens of analytical tools, flexible templates and algo trading
Cons
- The no-frills trading environment offers little beyond the basics, with no Islamic account, PAMM account or copy trading.
- While RedMars' spreads are within industry averages, they don't offer a significant edge over the cheapest day trading brokers we've personally used, notably IC Markets
- With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Interactive Brokers Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral |
| Minimum Deposit | $0 |
| Minimum Trade | $100 |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Stock Exchanges
Interactive Brokers offers trading on 15 stock exchanges:
- Borsa Italiana
- CAC 40 Index France
- Chicago Mercantile Exchange
- Euronext
- IBEX 35
- Japan Exchange Group
- Korean Stock Exchange
- London Metal Exchange
- London Stock Exchange
- Nasdaq
- Nasdaq Nordic & Baltics
- New York Stock Exchange
- Russell 2000
- Shenzhen Stock Exchange
- Toronto Stock Exchange
Pros
- The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
- The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.
- With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
Cons
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
Comparing Nairobi Stock Exchange Brokers
Before you start trading on the exchange, you need to choose between Nairobi Stock Exchange brokers. With this comes lots of factors to compare whilst reviewing brokerage firms:
If you want to trade on the move, check whether NSE brokers offer a mobile app. Being able to access the full range of features and functionality of a desktop terminal via a mobile device will be advantageous, meaning you won’t miss out on any opportunities while away from a screen. NSE brokers that offer SMS alerts, customizable interfaces and intuitive navigation will rank highly.
Responsive customer service is another important aspect when comparing Nairobi Stock Exchange brokers. Check that a range of contact options is available, including an email address, phone number and live chat. It will be important to have access to support during market operating hours, particularly for proprietary software help or guidance to set up a new position.
EFG Hermes, for example, provides regional customer support for day traders. So individuals trading the Nairobi Stock Exchange from Kenya can contact the broker via a country-specific phone number, email and postal address.
Open An Account
Once you have chosen one of the top NSE brokers, it’s time to complete the registration process and open an account. You may be required to complete know-your-customer verification at this point and upload proof of address and proof of identity.
Some Nairobi Stock Exchange brokers will permit online-only applications, meaning a quick and efficient way to get started day trading.
Deposit Funds
The next step is to deposit funds into your account. Note, the Nairobi Stock Exchange trades in Kenyan Shillings (KES). Some global Nairobi Stock Exchange brokers may charge currency conversion fees at the latest rates if you are depositing in a currency outside of this. The dollar rate today can be found on Google or other charting and analytics sites. Other fees to consider when comparing brokers that support trading on the Nairobi Stock Exchange include commissions, deposit and withdrawal charges and exchange transaction costs.
The best NSE brokers will be fully transparent when it comes to costs. Francis Drummond, for example, publishes information about charges and commissions for its brokerage services. This also includes information on account minimums, inactivity charges, plus deposit and withdrawal fees.
Research Stocks & Invest
As soon as your account is set up, verified and funded, you are ready to begin trading. Research the various NSE stocks available, check historical data and invest when you feel ready.
As with all trading, profits are not guaranteed so never invest more than you can afford to lose.
What Is The Nairobi Stock Exchange?
The Nairobi Stock Exchange (NSE) is based in the city of Nairobi, Kenya. Its head offices are located at an address on Westlands Road, Westlands, Nairobi, having moved to a new location and building in May 2013. While it is not one of the largest stock exchanges in the world, it is within the top 10 in Africa and available to trade via several Nairobi Stock Exchange brokers.
The NSE has a market capitalization (cap) of KES 2.248 trillion, or around $20 billion, according to its 2020 annual report. There are around 64 companies listed on the Nairobi Stock Exchange.
Stocks and shares at Nairobi Stock Exchange brokers are listed and traded on its mainboard, under the symbol NSE. The role and function of the Nairobi Security Exchange are to allow investors, young and old, to trade a range of instruments. These include standard stocks, indices such as the All Share Index, ETFs, derivatives (futures and options) and bonds.
Daily price lists can be found on the official website of NSE brokers, so check today to see current prices, latest share performance and top gainers, as well as historical data and share prices, charts and graphs. Stock updates and analysis can also be found on the live data feed provided by Wazua. A variety of online NSE brokers allow customers to trade on the Kenyan market.
Understanding the roles of the Nairobi Stock Exchange in the Kenyan economy is very important. It is one of the key features and benefits of the NSE, enhancing the growth of Kenya’s economy by encouraging savings and investment. Keeping this growth is one of the main challenges facing the exchange.
Nairobi Stock Exchange History
Stocks and shares were first traded in Kenya in the 1920s when it was a part of the British Empire. The market was not formal, as there were no rules and regulations to govern the activities. In 1954, the Nairobi Stock Exchange was setup up as a voluntary association of stockbrokers. Africans were not permitted to trade securities, so the market was confined to the resident European community. After the attainment of independence in 1963, the market opened to all Kenyan residents.
In 1988, the first privatisation occurred through the Nairobi Stock Exchange. 20% of the government shares in Kenya Commercial Bank (KCB) were sold to the public, with the government retaining 80% ownership of the bank. In 1994, the NSE 20-Share Index recorded an all-time high of 5030 points.
The largest share issuance in the history of the Nairobi Stock Exchange occurred in 1996, with the privatisation of Kenya Airways. After selling a 26% stake to KLM, the government of Kenya proceeded to offer 51% of Kenya Airways PLC shares to members of the public. More than 110,000 shareholders acquired a stake in the airline as the government reduced its stake from 74% to 23%.
2006 saw the implementation of live investing at the NSE with the addition of automated trading systems. This was furthered in 2007 when the exchange implanted its Wide Area Network (WAN), allowing NSE brokers and investors to conduct trading remotely.
In 2014, the NSE self-listed its own shares on the Main Investment Market Segment of the NSE, after receiving permission to demutualize. It became only the second self-listed African stock exchange, after the Johannesburg Stock Exchange.
Nairobi Stock Exchange Owners & Management
The shares of the Nairobi Stock Exchange are listed and traded on the exchange’s own board. The primary shareholders (owners) are Standard Chartered Kenya Nominees (21.75% ownership), CFC Stanbic Nominees Kenya Limited (7.67% ownership), the Treasury of Kenya (3.37%) and the Investor Compensation Fund Board (3.37%).
The Nairobi Stock Exchange is governed by its board of directors, which governs all corporate actions. The board is headed by chairman Mr Kiprono Kittony and vice-chairman Mr Paul Mwai. The NSE’s CEO is Mr Geoffrey Odundo, who has a team of executive directors to help deal with the day-to-day management of the exchange. This involves everything such as news announcements, financial statements, performance reviews, dividends announcements for the end of 2024 and the publication of equity statistics.
Structure
The Nairobi Stock Exchange is divided into four market fragments:
- Main Investment Market Segment (MIMS): This is the fundamental fragment of the NSE and contains 48 stocks equal to 99.5% of the NSE market cap.
- Alternative Investment Market Segment (AIMS): This is the section for medium-sized organizations.
- Fixed Income Securities Market Segment (FISMS): This fragment is the market for exchanging fixed pay securities such as corporate and government securities.
- Growth Enterprise Market Segment (GEMS): This section has five registered stocks and has less rigid pre-requisites than the other sections.
Note, NSE brokers will not necessarily offer trading on all stocks from the four segments.
Nairobi Stock Exchange Indices
The NSE All-Share Index is the primary index for the Nairobi Stock Exchange. This index represents the performance of all shares listed on the NSE and is the best indicator of the overall performance of the stock exchange. Index graphs are available showing past points from yesterday or as far back as you want to go.
Other indices include:
- FTSE NSE Kenya 15 Index
- FTSE NSE Kenya 25 Index
- FTSE ASEA Pan African Index
- FTSE NSE Kenya Govt. Bond Index
- NSE 20 Share Index (The mean of the top 20 performing companies each year)
- NSE 25 Share Index (represents the performance of Kenyan companies listed on NSE)
Nairobi Stock Exchange Listing Requirements
To be listed on the Main Investment Market Segment of the market with companies and banks like Safaricom (SCOM) and Equity Bank Group Holdings, companies must meet certain criteria. An organisation needs to submit five years of inspected financials, three of which must be productive years. It needs to have KES 50 million worth of completely settled up shares capital and KES 100 million in resources.
Nairobi Stock Exchange Trading Hours
The opening hours of the Nairobi Stock Exchange have changed throughout the years. As it stands, the NSE is open Monday through Friday from 09:30 to 15:00 East Africa Time (GMT +3). Look out for updated operating hours via Nairobi Stock Exchange brokers.
Trading Holidays
Knowing whether a stock exchange is shut for holidays in 2024 or beyond is important for any investor. We have compiled this list of the Nairobi Stock Exchange’s holidays, so you do not have to search for a PDF every day to see if it is open. Additionally, keep an eye on NSE brokers’ published market holiday calendar as these dates should also be reflected here. The list shows each day the exchange is closed:
- New Year’s Day – January 1st
- Good Friday – April 2nd
- Easter – April 5th
- Labor Day – May 1st
- Eid al-Fitr – May 14th
- National Heroes Day – October 20th
- Independence Day – December 12th
- Christmas – December 25th
- Boxing Day – December 26th
Top Companies / Biggest Players
The five biggest stocks on the Nairobi Stock Exchange account for 75% of all investor wealth. So, who are the biggest players? We have compiled this list of the top five companies on the NSE with their respective market capitalization in brackets:
- Safaricom (KES 1.520 trillion)
- Equity Bank (KES 196.23 billion)
- Kenya Commercial Bank, KCB (KES 147.50 billion)
- East African Breweries Limited (KES 124.15 billion)
- Co-operative Bank (KES 73.046 billion)
The best Nairobi Stock Exchange brokers will provide comprehensive insights into leading stocks, along with key financial metrics and significant market movers.
Why Trade At NSE Brokers
While you will not find any popular US companies listed on the Nairobi Stock Exchange, it does have some interesting and exciting stocks available. NSE brokers present a great opportunity for investors to diversify their portfolios with companies not listed on the top exchanges, such as Safaricom and Kenya Commercial Bank stocks.
Tips
History Matters
It will not happen every time but history can repeat itself. Always research historical data, statistics and trends, as they could indicate the future movement of a stock or asset on the exchange. Look out for Nairobi Stock Exchange brokers that offer state-of-the-art investing technology meaning you can view or overlay historical information onto current market price graphs or charts.
Demo Accounts
The best Nairobi Stock Exchange brokers will offer a demo account. Demo profiles are a great place to complete training before you risk real capital on the Nairobi Stock Exchange. They allow you to learn about the platform and practice strategies completely risk-free.
Follow The News
News announcements can have a big impact on the values of stocks and indices. Stay up-to-date with the latest announcements and financial news so that you can get ahead of the curve with new price movements. This may include updates or changes made by the Central Bank of Kenya (CBK). The top Nairobi Stock Exchange brokers will integrate this within their platform interface or via the customer portal for on-hand, live information.
Final Word On Nairobi Stock Exchange Brokers
The Nairobi Stock Exchange is home to the largest companies in Kenya. While it is not one of the biggest stock exchanges in the world, it should not be overlooked as it represents a great opportunity for investors to diversify their portfolios with exciting stocks at the heart of the Kenyan and African economies. If you want to start trading on the Nairobi Stock Exchange today, follow our step-by-step guide to choosing between platforms and brokers with access to the NSE.
FAQs
What Is The Best Stock To Buy On Nairobi Stock Exchange Brokers?
There is no simple answer as to what the best stock to buy on the Nairobi Stock Exchange is. The top five companies listed usually have the highest trading volume and liquidity, so these could be a good place to start.
Can UK Traders Buy Stock On The Nairobi Stock Exchange Via Online Brokers?
Yes, UK traders can buy stocks and shares on the Nairobi Stock Exchange. Simply open an account with one of the registered Nairobi Stock Exchange brokers that offer access to the exchange to begin.
Is The Nairobi Stock Exchange Worth Investing In?
The Nairobi Stock Exchange may well be worth investing in, depending on your portfolio, risk appetite and goals. The exchange provides access to some different companies not listed on top exchanges and gives investors a chance to diversify their portfolios.
When Is The Nairobi Stock Exchange Open?
The Nairobi Stock Exchange opens for five and a half hours, Monday to Friday. It opens from 09:30 to 15:00 East African Time (GMT+3). This will be reflected in your Nairobi Stock Exchange brokers’ platform.
Is The Nairobi Stock Exchange Open Today?
The Nairobi Stock Exchange closes on nine weekdays each year. It is always closed on weekends. Check our calendar above to see whether it is open today. The best NSE brokers will also list market closures and opening times on their website or platform.