Binary Options Kenya
Binary options trading in Kenya
Trading Binary Options has become a well-known financial investment in recent years. And the simple structure of it also attracts many traders and investors in Kenya. Binary options are financial instruments that let traders bet on the direction of the market movements. They are known as “binary” because they have only two outcomes- win or lose. If your guess is right, you get up to 92% on the investment amount. If not, you lose your capital and nothing more. In this article, we provide you with ideas of how Binary Options trading works in Kenya. You will also learn the things you need to know about brokers in Kenya to help you decide which one is right for you.
There are many ways to limit your risk in trading binary options. The first of these is to choose binary options brokers in Kenya that will enable you to manage your risk effectively. Pick the one that offers both a protection rate and features to limit losses. Also, you must learn how to interpret a chart. With this skill, you can apply it to the market in general or the assets you would like to trade. It will help you to succeed and make a profit. Overall, you must trade responsibly while using proper money management strategies to protect your money from losing while trading. So, before you dive headfirst, you should familiarise yourself with the ideas involved in Binary Options trading in Kenya.
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IQ Option Kenya
Launched in 2013, IQ Option is one of the most popular and fastest-growing online trading platforms in the world. It has set a good name as a leading Binary Options, Digital Options, Forex, and CFD broker. The company is legit and regulated under the Cyprus Securities and Exchange Commission. Like other brokers, IQ Option offers a demo account to Kenyan traders. But, its demo account stands out among others. It is because there is no limit on how long you can use it. It is an excellent option for exploring the platform and practicing trading strategies before spending real money. Kenyan traders can deposit funds through a variety of convenient ways, such as debit/credit cards and eWallets such as Neteller or Skrill. Hence we can say that IQ Option Kenya is one of the most reputable companies. It is also the best broker for Kenyan traders of all experience levels, novice to advanced.
Check out IQ Option complete review.
Is IQ Option legal in Kenya?
Yes, IQ Option is legal in Kenya. It accepts traders from Kenya. In fact, there are many traders successfully trading with IQ Option online platform in Kenya. The legality of online trading platforms changes from time to time. Hence you can check the updated list of restricted countries on the IQ Option Website.
How to Contact IQ Option Kenya
IQ Option does not have its contact center in Kenya. It gives support through its Global Support Team for Kenyan clients. Kenyan traders can contact IQ Option in many ways, such as Email: firstname.lastname@example.org, Online Live Chat, and request a call back from the account manager.
If you need help, you can contact the IQ Option customer service 24/7 via online live chat, phone, or email: email@example.com.
Olymp Trade Kenya
Olymp Trade is one of the most well-known online brokers in Kenya. The company offers Forex trading and Fixed Time trades through its online trading platforms. Olymp trade is a regulated broker of the International Financial Commission. FinaCom is a mediator between the broker and traders that secure a monetary reward of up to $20,000 per client. They are a contact person, and if you got some issues with the broker, you could ask for help from them. Also, a bonus is something you get extra from Olymp Trade when you are placing money in your account. It starts at $30. And the more you invest with, the more bonus you get. So, we can say that Olymp Trade is one of the best online platforms. And the company achieved an excellent track record and is trusted by many traders in Kenya.
Olymp Trade Kenya Contacts
Presently, Olymp Trade does not have any local office in Kenya and has no local phone support yet. Kenyan traders can reach out to their customer support team 24/7 using multiple channels.
You can reach out to the customer support team 24-7 by Live Chat, Email, and phone. Their contact numbers: +35725030996, Nicosia, Cyprus. Currently. You can contact firstname.lastname@example.org for quick support.
Expert Option Kenya
Started in 2014, ExpertOption is one of the most attractive and well-known trading platforms in the industry. The broker holds the license under the Vanuatu Financial Services Commission – VFSC. Therefore, ExpertOption is not a scam broker. It offers a demo account to Kenyan traders to sharpen your skills without risking real money. With the demo account, you can explore the platform and hone your trading strategies before investing any real money. Just lately, ExpertOption has begun to offer 100% bonuses for new investors. It depends on how much you initially deposit and the account you choose. Like most brokers in the industry that offers these types of bonuses as incentives to draw new customers, and Expert Option is no different. But, users need to read the terms and conditions regarding bonuses to check if you are qualified. So as a stable broker complete with its unique trading platform, ExpertOption Kenya offers several advantages compared to its competitors.
Began in 2014, Binomo is one of the most famous global brokers for binary options trading. Its innovative trading platform enables people to earn money online in Kenya. As of this writing, Binomo is a member of the International Financial Commission. It means that if there is an issue with the platform, clients can get compensation up to €20,000 per complaint. This online trading platform offers a demo trading account for Kenyan traders. It is a great place to get started to get a feel for the platform. Also, the demo account gives you access to tools and indicators. It means you can use it to practice your trading skills before opening a real account. So we can say that Binomo is a decent online trading platform. And it comes with all the features to attract traders from any parts of the world.
Is Binary Options trading legal in Kenya?
Yes, Binary Options trading is legal in Kenya and legitimate investment activity by the Capital Markets Authority (CMA). It is the main regulatory body for the financial industry in Kenya. But, the online financial trading industry in Kenya is still in its infancy. The regulatory framework for approving online trading activities does not yet exist. It means that the online binary options industry in Kenya, while legal is chaotic. But, lately, the CMA recently published plans to form a legal framework that will address online trading. This act aims to help create a more secure online trading environment for traders in Kenya.
As for now, the best choice for Kenyan binary traders is to deal with offshore brokers. So traders should keep themselves informed and choose the proper Binary Options brokers in Kenya.
Which is the Best Binary Options Broker in Kenya?
While binary trading in Kenya can be a very lucrative endeavor, it is vital to think that a large part of a trader’s trading success will depend on the broker the trader has picked. It is a high risk that you might not be able to get your money back if you deal with the wrong broker. And sadly, there are no binary options brokers found in Kenya today. The good thing is trading binary options from Kenya is very convenient, as all major international brokers accept Kenyan traders. And these leading brokers are IQ Option, Olymp Trade, Binomo, and ExpertOption. Try the services of IQ Option Kenya in a risk-free demo account.
Will I make money by trading Binary Options in Kenya?
Honestly, there are no traders who have never faced losses in Binary Options trading in Kenya. And lots of them are forever frustrated after losing all their money. If you don’t want to be one of them, you have to get disciplined in money management and risk management skills. It is because you are one choosing how much money you want to invest in binary trading.
Is Binary Options trading Risky in Kenya?
The truth is that all investments come with some form of risk – and this includes trading in binary options in Kenya. Binary options are an all-or-nothing option type where you risk a certain amount of money. If you are right, you receive the 90% prescribed payout. But if you are wrong, the money you wagered is lost. But, the risk is limited when you only put a small portion of your overall trading capital. Hence, how much you want to risk is up to you.
Learn the Skills before Trading
For beginner traders, before making any decision to trade with real money, it is important that you learn and practice in a risk-free demo account. IQ Option gives all the traders a Free Demo Account with $10,000 virtual money. The traders can practice without the fear of losing money in this account. This account can be replenished for free if you lose all the virtual money in the account.
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Technical Indicators for trading Binary Options
Technical indicators are ready for traders to study, and useful trading partners to assist them better. There are some charting tools, indicators, and oscillators for Kenyan traders to help them make the right trading decisions. Indicators are tools that traders use to improve strategies, and two well-known indicators are the MACD and RSI. They will help you to see the change in trends. Keep practicing your money management skills and chart analysis skills in a demo trading account. And most importantly, learn how technical indicators can help you in your trading journey.
With Binary Options, you can be able to trade Currency pairs, Stocks, Commodities, and Indice. And Binary options in Kenya are one of the easiest ways to invest in the financial markets. It is a chosen way of trading amongst investors, mainly new traders. But, it is still not enough to be successful. You will need to test your success on a risk-free demo account. If things work out great, then go ahead and switch to trading with real money. The demo account is one of the best ways to find out whether you understand what you have been learning. It perks to new traders because they allow them to be familiar with trading software and get a sense of how the market works. Binary Options and Fixed Time Trading are open with an expiry of 30 seconds, hours, and days. Keep in mind that the most vital role that plays in defining your success in Binary Options trading is discipline and risk management.