How To make money through Forex trading in kenya for beginners

Forex trading has taken Kenya by storm in recent years. With better internet access, mobile money platforms, and increased financial literacy, many Kenyans are turning to Forex as a legitimate way to earn online. If you’re new and wondering how to make money through Forex trading in Kenya for beginners, you’re in the right place.

This guide will walk you through everything you need to know — from opening your first account to placing your first trade — all tailored to the Kenyan trading environment in 2025.

Is Forex Trading Legal in Kenya?

Yes, Forex trading is 100% legal in Kenya, as long as you trade through a licensed broker. The Capital Markets Authority (CMA) is the regulatory body that oversees Forex brokers in the country.

Several Forex brokers are registered and regulated to operate in Kenya, including:

• EGM Securities (FXPesa)

• Scope Markets Kenya

• Pepperstone Kenya

• Exness (regulated internationally)

Make sure your broker is CMA-regulated or has a strong international reputation and complies with global standards.

What Do You Need To Start Forex Trading in Kenya?

To begin your Forex trading journey in Kenya, you only need a few essentials:

• A smartphone or computer

• A reliable internet connection

• A Forex trading account

• A little capital (you can start with as low as KES 1,000–KES 5,000)

• A good mindset and willingness to learn

You don’t need a financial degree. Many successful traders in Kenya started with free online resources and small accounts.

Step-by-Step Guide: How To Make Money Through Forex Trading in Kenya for Beginners

Step 1: Learn the Basics of Forex TradingBefore investing real money, take time to understand:

• How currency pairs work (e.g., EUR/USD, USD/KES)

• What pips, lots, and leverage mean

• Trading hours and sessions

• The role of brokers and spreads

Start with websites like BabyPips.com, or take beginner courses on YouTube or FXPesa Academy. Most of these resources are free and beginner-friendly.

Step 2: Choose a Trusted Forex BrokerPick a broker that is:

• Regulated by CMA or reputable international bodies

• Offers mobile trading apps

• Accepts M-Pesa for deposits and withdrawals

• Has free demo accounts to practice

Popular beginner-friendly brokers in Kenya include FXPesa, Exness, XM, and Scope Markets.

1️⃣ Exness: Open Account | Go to Website

2️⃣ JustMarkets: Open Account | Go to Website

3️⃣ XM: Open Account | Go to Website

4️⃣Pepperstone: Go to Website

5️⃣Avatrade: Open Account | Go to Website

Step 3: Open a Demo AccountA demo account lets you practice Forex trading without risking real money. It’s the best way to:

• Learn how the platform works

• Test strategies

• Build confidence

Use this time to explore MetaTrader 4 (MT4) or the broker’s mobile app. Trade virtual money as if it’s real.

Step 4: Fund a Live AccountOnce you’re ready, switch to a real account. Start small — even KES 1,000 can go a long way if you use proper risk management.

Use M-Pesa to fund your trading account. Most brokers in Kenya support instant deposits and fast withdrawals via mobile money.

Step 5: Use a Simple StrategyAs a beginner, avoid complicated systems. Start with one of these:

• Support & Resistance: Buy when price hits support, sell at resistance.

• Moving Average Crossover: Buy when a short MA crosses above a long MA.

• Breakout Strategy: Trade strong price movements after price breaks out of a range.

Focus on consistency, not perfection.

Step 6: Practice Risk ManagementRisk management keeps your account alive. Here’s how:

• Never risk more than 1–2% of your balance per trade

• Always use a stop-loss

• Avoid trading during high-impact news events (like Central Bank announcements)

• Don’t trade with emotions — stay disciplined

Step 7: Track Your ProgressKeep a trading journal. Write down:

• Why you took a trade

• What went right or wrong

• How much you won or lost

This helps you learn faster and avoid repeating mistakes.

How Much Money Can You Make?

Your earnings depend on:

• Account size

• Strategy

• Risk level

• Discipline

Starting with KES 5,000, it’s realistic to aim for KES 500 to KES 1,000 per week as a beginner. As your skill and capital grow, you can scale up to KES 2,000 or more per day.

Don’t aim to get rich quick — focus on growing slowly and sustainably.

Best Forex Trading Apps for Beginners in Kenya

1. FXPesa App – Easy M-Pesa deposits, CMA regulated

2. MetaTrader 4 – Globally used platform for charts and trades

3. Exness App – Great for ultra-low deposits and local support

4. TradingView – Best for analyzing price charts

5. Investing.com – Real-time news and signals

These apps are free, light, and work well with Safaricom internet.

Common Forex Scams to Avoid in Kenya

• Fake trading bots or signal sellers on WhatsApp/Telegram

• Unlicensed brokers promising huge returns

• "Account managers" asking to trade for you

If it sounds too good to be true — it probably is. Always trade your own account and use only regulated platforms.

FAQs About Forex Trading in Kenya for Beginners

Is Forex trading profitable in Kenya?Yes, but it depends on your skills, discipline, and how well you manage risk. Many Kenyans make consistent profits by trading part-time.

Can I trade Forex using M-Pesa?Absolutely. Most brokers in Kenya accept M-Pesa for both deposits and withdrawals.

How much capital do I need to start?You can start with as little as KES 1,000, but KES 5,000–KES 10,000 is better for flexibility.

Is Forex trading a full-time job in Kenya?Yes, some traders do it full-time. But most people start part-time and grow into it.

Do I pay tax on Forex profits in Kenya?Technically yes — Forex profits are subject to income tax. However, most brokers don't report to KRA. Always consult a tax professional.

Which is the best Forex broker in Kenya?FXPesa and Scope Markets are regulated by CMA and very beginner-friendly. Exness is also popular due to low minimum deposits.

Final Thoughts: Start Small, Think Big

Forex trading is a great opportunity for Kenyans to earn online — but only if you approach it wisely. Don’t rush. Don’t gamble. Learn the basics, follow the rules, and stick to your plan.

Now that you know how to make money through Forex trading in Kenya for beginners, the next step is simple: open a demo account, practice consistently, and grow your skills before going live.

See more:

How To make $50 a day with Forex? Is $50 enough for Forex trading?

How To make $100 a day trading Forex?

How To do Forex backtesting tradig strategy for free

How To make your first Forex trade