Since the proliferation of online trading platforms, getting into the trading industry has become more manageable for many people in different parts of the world.
Is options investment legal in Kenya?
#FeatureByDLinx - Kenya is technologically advanced, has one of the most stable democracies on the continent.
You no longer need to be present on trading floors or even in the same country as some of the best trading markets to access trading services. For instance, the Kenyan trading industry is one of the most advanced on the African continent, and instruments such as options trading are legal and available for all.
Kenya is technologically advanced, has one of the most stable democracies on the continent, and is ripe with trading opportunities for local and international investors.
Options trading is also gaining hold in the country, and some of the best UK options platforms are also available in the Kenyan trading market, as we'll highlight in this piece.
Options Trading Platforms In Kenya
IG Markets is one of the pioneering and largest online trading platforms in the UK that's also available to the Kenyan market.
It was established in 1974 and well regulated by authorities in the UK, even though the Kenyan government is yet to set standard operating procedures for international platforms in its market.
However, the platform is safe, and Kenyans can rest easy knowing their interests are well-catered while trading options on IG Markets.
Furthermore, besides offering options investment opportunities, the platform is home to 17,000 financial instruments, of which, most are also available to the Kenyan market.
In addition, the platform has low-spread charges, excellent customer support, and adequate learning materials for anyone to learn and get started with options trading.
Plus500 is an Israeli trading platform available to the Kenyan market. However, it only offers Kenyan traders one account type with limited functionality.
Options such as copy trading, hedging and scalping are unavailable in the market, reducing traders' ability to see as good results as their counterparts in other parts of the world, such as the UK.
However, the platform offers options trading and access to other financial instruments. It also has multiple payment options, reasonable fees and commissions, and a $100 deposit requirement.
The user interface is simple and easy to navigate for both beginner and experienced traders.
In addition, it offers an Islamic account option for more diversity and inclusion in the East African country. But because of some of the limitations imposed on the platform in the country, it might not be the most appropriate to trade on.
AvaTrade is an internationally regulated CFD, forex, cryptocurrency, and stock broker available in the Kenyan market.
The platform also offers other financial instruments, including options, bonds and ETFs. It has good user reviews in the Kenya market as well as in other markets in different parts of the world.
AvaTrade has received recognition and awards for aspects such as being the best day trader platform, having excellent user experience, and being the best forex broker.
This is also true in the Kenyan market, as most, if not all, of its trading features are available to traders. The minimum deposit on the platform is $100, and it offers a demo account that allows new traders to practice before trading options.
One more notable feature on the platform is Avaprotect, an innovative insurance feature that allows you to insure your trades against loss for a specified time.
Saxo markets is a Danish internationally regulated online trading platform that offers options trading in the Kenyan market.
Like other international trading platforms, it does not require registration from the Capital Markets Authority (CMA), the Kenyan body responsible for regulating the financial markets. However, Kenyans can trust it because other than being licenced in Denmark; it's registered in one tier-one jurisdiction.
The platform's user interface can be a bit complex to use if you're a beginner trader, but simple enough to learn after a few attempts.
However, it's excellent for more advanced Kenyan traders because of its fair fee structures, transparency in execution statistics, and general trader support.
If you're Kenyan or come from any other part of the world, you will enjoy using Saxo markets and their user-oriented services for your options and other financial instruments trading.
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