Forex Trading for Beginners

The Ultimate Guide on Forex Trading for Beginners in Kenya. Use the below links for index to our chapters. If you are looking for the best brokers then check our best forex brokers for 2022 guide.

Learn Forex Trading

We welcome you to your Forex Trading journey!

We have created this guide for absolute beginners. You'll learn the basic concepts of forex trading, so that you can start practising on demo.

This guide is created for definitions & major concepts of forex trading, from what is forex trading & how does forex markets work, to the best forex brokers that you can safely trade with in Kenya.

Please note that this guide is for your starting reference only to learn about the basic concepts. After learning basic, you must spend few months to practise on demo before trading with any real money.

Note: Forex Trading is risky & can result in loss of your entire capital. So please make sure to learn fully about the risk of margin trading & don't invest any capital that you cannot affort to lose.

The Basics of Forex Trading

Forex Trading involves the buying & selling of currencies, to profit from their movement.

Explore the chapters:

Chapter 1: What is Forex Trading & How does it work?

What is it, and how does the forex markets work?

For absolute beginners. Learn what is forex trading, its basic concepts like Pips, the risks & more.

Chapter 2: What is Leverage in Forex Trading? Understand its risks.

Note, using leverage in forex trading is very risky!

Learn about what is leverage, how much is too much. And how professional traders use safe margins.

Chapter 3: Best Time to Trade Forex in Kenya

Understand the forex market sessions & hours according to Kenyan time zone.

We cover the 3 major trading sessions i.e. Tokyo, London & Ney York sessions. And their time according to Kenya.

FAQ: Forex Trading for Beginners in Kenya

How does Online Forex Trading work?

Forex Trading involves trading currencies in pairs. You are basically speculating on the exchange rates of currency pairs. For example, if you think that GBP is going to go up in value against US Dollar, then you can place long order on GBP/USD via an Online Forex Broker.

Is Trading Forex Legal in Kenya?

Yes, Online Forex Trading is legal in Kenya as long as you are trading with a CMA licensed online forex broker. There are 6 Non-Dealing Online Forex Brokers that are regulated by the CMA. You can trade with any of these brokers & your trading funds will be safe.

How to Learn Forex Trading?

You can start to learn forex trading by first understanding all the basics of forex market like what are currency pairs, how do the forex markets move. Then learn about technical analysis & fundamentals. After that you should learn Risk management. After that you should test out your strategies on a demo account. Once you have a good understanding, only then start on a live account with low capital or something that you can afford to lose. Remember, to never use more than 1:30 leverage, and manage your risk per trade.