Trading binary options is an attractive and popular type of online investment that is spread enormously fast around the world. In Africa, binary options trading is very popular and country like Kenya did not bypass this trend.
This guide will provide all information regarding most popular brokers that are available in Kenya. Also, we will help you to learn more about brokers in Kenya, can Kenyan traders use binary options software and are there options to trade with some popular brokers in the industry.
All these years, traders are trading every day in Kenya. Thanks to good payouts and a wide variety of different settings, binary options have become a strong choice for trading on the financial market.
In this article, we will try to explain how to trade with different currencies, commodities, indices, and stocks.
Traders from Kenya have a goal to profit from binary options and we believe that they can succeed by adhering to certain strategies and rules, and not rely on pure luck.
For this reason, with this guide, we will try to bring all Kenya traders closer to binary options and how to trade in order to be a successful trader.
Binary options are not just for professional traders and successful investors. They are also for beginners who have to learn to abide by the basic trading rules for starters. That’s why we have decided to write this guide to bring Kenya traders closer to how binary options work and help with strategies and tools to reduce risk and increase trading performance.
Binary Options in Kenya
Initially, binary industry appeared in late 2008 in the USA and quickly spread on different continents by providing trading platforms on which traders in Kenya will be able to trade with numerous underlying assets.
However, our Kenyan readers should know first what binary options are and how we define them. Trading binary options is an online trading alternative which has two options, yes or no and is based on fixed payout and expiry time. It all comes down to the fact that traders need to determine will and asset price rise or fall in a specific time frame which is set in advance.
Traders are able to trade with different underlying asset, such as stocks, commodities, currencies and indices. Also, trade options and times of expiry are required to complete a trade, whereas each binary broker has its own list of available assets and trading features.
Experience trading with IQ option!
Concerning trade options, Kenyan traders can choose between trading on 60 Seconds, High/Low, Ladder Options, Pairs, One Touch and many more. Regarding expiry times, they have on disposal a wide range of short term and long term time frames, such as 60 seconds, 2 min, 5 min, 15 min, 30 min up to a day, week, month or even 150 days.
In binary options trading, risk is involved since this trading type is done online and trades are executed based on current market trends. However, as one of the main benefits of such binary options popularity is the fact traders know potential risk in advance, even before a trade is made. This means how potential money gain or money loss can be known in the initial stage.
Binary trading process in Kenya can be done entirely online, where traders only need internet connectivity to be able to place trades and earn money accordingly.
Binary Trading in Kenya
For binary options success to be possible, there are several elements which should work simultaneously such as available trading tools and features available on particular broker’s platform.
High returns are definitely one of the reasons why many traders from Kenya find binary trading to a suitable option to invest their money. This industry seems also attractive to beginner traders who have opportunity to experience online trading, practice and possibly make money in the process.
Features such as demo account, different trading instruments such as option to limit daily trades and ability to trade binary options on the go, thanks to mobile app, are all popular ways of how to achieve better trading results.
Demo account is especially appreciated feature among novice traders who lack financial knowledge such as expert traders possess, and with practicing on demo, they can test the platform and have better performance in risk free environment. By this we mean how Kenyan traders don’t need to invest actual money but instead they are provided with virtual funds.
Traders who are very busy and don’t have time to trade binaries solely on computers, are able to use mobile application and have a more simple way of trading when they are on the move. These binary options trading apps are designed is a simple way to be efficient and easy to use. With most brokers, app is connected with Apple and Android systems where Kenyans have option to use it on their tablets and smartphones.
IQ Option Kenya
Selecting a right binary broker should be traders’ initial step when planning to do binary options investment. Nowadays, there are a lot of binary brokers who are available on Kenyan market and traders should wisely choose the one to trade with in order to avoid any possible scam.
As a novice trader, choosing a broker who offer binary demo account might be a good idea to start with, among other segments on the trading platform. Traders should also check carefully broker reviews listed on our site to find a detailed explanation of what particular platform has to offer.
Each broker has its own trading characteristics and offer different tools as well as number of trading account and minimum deposit requirements. Usually, average industry minimum deposit is $250, while some brokers such as IQ Option who offer deposit of just $10.
When Kenyan traders check a specific platform, they should read terms and conditions as well as find information about withdrawal procedure since this element is one of the main ones in terms of successful binary trading process. If a broker has good and responsive customer support, it is one more thumbs up for traders who can see how this broker is serious and has very good support agents who can provide fast and accurate trading info.
Olymp Trade Kenya Reviews
Each broker works in a different way, offers different settings and binary trading strategies for beginners that can be used during trading and has different minimum deposit requirements. As we already mentioned, there are some brokers that might be very suitable starting point for Kenyan traders and one of them is definitely Olymp Trade.
Also, when a Kenyan trader decides to use a specific platform, we suggest reading the terms and conditions that should be on the broker page itself. In this section, you will be able to get important information like withdrawal options, bonus options and different requirements and rules for trading. It is important to inform yourself of everything that the broker provides you and all that you can use to trade more profitable.
Likewise, if your broker has customer support, this can greatly contribute to the quality of the service. This way, you can get all the important information quickly, and educated agents can help you explain all the ambiguities you face.
For all Kenya traders, we have also created types that you should follow when choosing the appropriate broker you want to trade with:
- Terms and Conditions
- Customer Support
- Education Center
- Demo Account
- Deposit and Withdrawal
- Trading Features, Strategies, and Settings
All these tips can help you to trade quality, and knowing more about the broker can increase your profitability. Always try to get more information and find out all that the broker provides while you’re dealing with it. You have to be careful because there is much suspicious software on the Internet and brokers who are not in the interest of making a profit.
Binary Trading Groups in Kenya
All news related to binary options in Africa are logically important for traders in Kenya. Movements of the market price can be challenging to predict, however, traders need to be aware of everything that can affect market changes.
That’s why on Binaryoptions.org.za we have the binary trading news section which tracks what is happening in binary options in Africa. We also recommend to our readers and traders to read our guides and strategies, as they can educate themselves and fix some mistakes they may not even know they are doing while trading. Binary trading groups in Kenya are also very popular. It is very common that a group of people that are sharing the same passion, in this case binary trading, discusses different trading strategies and compares results.
Binary options trading has become a source of earning money in African countries and also traders around the world. That’s why it is important to update yourself with the news on daily basis and improve trading skills.