Traders In Kenya Must Avoid Scams In Forex Trading

Traders In Kenya Must Avoid Scams In Forex Trading

A broker is an intermediary for investors to transact on the stock market. In this case, because trading with forex pairs, the market in question is the international futures exchange market. The broker that investors from Kenya should pay attention to is a broker that already has a Trade Supervisory Agency license which is run by the government of Kenya. Check the existence of the broker on the official government website, if it is registered, it can be said that the legality of the broker is clear. You can also visit if you want to find some of the best forex brokers in Kenya.

Then, don’t believe if there is a marketing broker who says no swap and no commission, because the broker can stand only from commissions. Brokers who say upfront swaps and commissions are open to investors are brokers to consider. We are buying and selling, yes, so it must be based on the principle of consensual. If you, as a Broker from Kenya don’t like the distribution of commissions and swaps at the beginning, just leave it.

Aside from that, most brokers are either local brokers or outside brokers, they only lure a lot of profit and a promising percentage. Remember friends, in the world of trading, especially Forex trading, profits are indeed faster because the circulation of money in a day is also on an international scale. It’s no longer just how much cash, but it’s already in the trillion-dollar figure. So the point is Forex trading is trading that is “high-risk high gain”. Brokers who are transparent talking about risk at the beginning are rare. Most of them are profit-oriented. So traders from Kenya must choose forex brokers carefully.

Furthermore, in many brokerage companies in Kenya, marketing trades a large number of customer accounts. Without knowing the knowledge of trading and without knowing the risks and as long as getting a commission is not good. It’s such a cruel broker, whose aim is only to lose customer funds for the benefit of getting a commission. People worked their bones until they broke their hearts, were caught in the rain day and night, displaced and hungry. Then the rogue brokers are spending their customers’ money in one click.

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