The Pros and Cons of Exness Kenya
Exness Kenya is a CFD broker that offers access to various markets and instruments. They have various account types as well as excellent customer support.
This broker may not be suitable for everyone, as working with a limited selection of assets and low trading leverage can prove challenging for beginners. On the other hand, those seeking low risk trading may find this broker to be an attractive option.
It is not suitable for everyone
Exness has been in business since 2008 and provides a comprehensive selection of trading tools. Its MT5 platform suits both novice and experienced investors alike, while Exness also offers an extensive trading education program to enable its customers to make informed decisions about their investments.
The broker's website is user-friendly and provides a wealth of content. Furthermore, its fee structure is transparent and straightforward to comprehend. Furthermore, there are various account types available, with either Metatrader 4 or 5 platforms as an option.
Traders can open accounts with exness by providing documents proving their identity and residency, although a nominal registration fee may be required. Furthermore, traders must complete an economic profile to demonstrate they possess the necessary knowledge and financial capacity to invest safely with the company.
New investors typically make a minimum deposit of just $50, making withdrawing money with minimal effort possible. It's essential to remember that not all withdrawal methods are supported by all brokerages; therefore, it is always best to check the fees and charges associated with a broker prior to using them.
As a beginner, it's wise to start with lower leverage and increase your position size as you gain experience. Doing this can help prevent losses that exceed your risk profile.
Additionally, selecting a broker who provides multiple payment methods is essential so you can deposit and withdraw funds easily. Mpesa, for instance, is popular in Kenya and an ideal way to fund an account.
Leverage is a fundamental feature of any forex trading platform and it can increase your potential profits if you make more pips than invested. That said, it also raises the risks if you lose more than invested, so it's essential to assess your risk tolerance before trading with Exness.
The broker's high available leverage is ideal for advanced traders, while beginners should start with smaller amounts and build their experience over time. Unlike some other brokers, there is no minimum leverage required to join and you have two settings to choose from: unlimited and 1:400.
It can be difficult for beginners to work with a limited number of assets
Exness Kenya is a trusted forex broker that offers traders an array of trading options. The platform has been regulated in multiple jurisdictions and is user-friendly, plus it provides access to various tools and features like automation of trades with expert advisors.
The broker's customer service is friendly and helpful, offering assistance in 15 languages. However, it may not be as comprehensive as other brokers' offerings.
Kenyan markets are saturated with competition, making it increasingly difficult for newcomers to break in without risking their capital. Furthermore, the CMA is tightening regulations on unlicensed platforms; traders should exercise caution when using unlicensed platforms.
Thankfully, the company recently obtained a license from the CMA to operate as an un-dealing online broker in Kenya, part of their strategic expansion plans for sub-Saharan Africa.
Paul Margarites, Regional Commercial Director for Sub-Saharan Africa at Exness, issued a statement emphasizing how important it is for their firm to obtain CMA status as it helps them expand operations across Africa.
Exness has obtained the necessary license to accept deposits from Mpesa, Kenya's most popular payment method. The minimum deposit at Exness is $10 (1200 KES), making it one of the most accessible forex brokers in the country.
Traders can open a free demo account to test out the site before investing any real money. This is an invaluable resource for new traders, as it gives them an understanding of how the platform functions and boosts their confidence in trading skills.
Exness offers exceptional educational content, including short video lessons and articles about fundamental and technical analysis. Furthermore, there are numerous videos covering risk management strategies as well as trading psychology.
The broker also offers a social trading platform, allowing users to copy other users' trades. This enables novice traders to make quick profits by imitating more experienced traders' strategies.
It is not regulated by the CMA
Exness is an international retail FX group that provides a broad selection of assets, such as currency pairs, cryptocurrencies, metals, energies and stocks. Headquartered in Limassol, Cyprus, Exness is regulated by multiple authorities.
For over 15 years, this broker has been regulated by multiple authorities, such as top-tier CySEC and the UK FCA. Furthermore, it holds membership in the Financial Services Authority (FSA) in Seychelles and has licenses from SFSA, CBCS, BVIFSC, and Mauritius.
Exness provides its clients with a high degree of protection, including negative balance insurance and client funds protection policies. Furthermore, the broker uses innovative software and technology to reduce trading risks.
Additionally, the broker offers various account types. Spread-free, commission-free and commission-based accounts are accessible to traders of all levels of expertise.
Kenyan traders can deposit and withdraw money using various payment methods, such as Mpesa. This is a popular choice among Kenyan traders due to its speedy access to funds. However, we recommend traders utilize alternative options like bank accounts or debit cards when making deposits and withdrawals.
Before withdrawing money from Exness, you must first log in to your Personal Area and enter the verification code. This will confirm your identity and guarantee the funds reach your account.
Once you have finished the withdrawal process, it will be processed within a few business days. After this time has elapsed, you will receive either an email or SMS notification of your withdrawal.
When selecting a forex trading platform, it is essential to select an established and trustworthy broker. Doing so will protect you against scammers or other unscrupulous individuals. Before signing up with any broker, thoroughly research their regulations and assess their financial stability.
Exness' website is user-friendly and provides a range of trading tools, such as charting software. It also has an extensive educational section and offers support through chat, phone or email. Furthermore, Exness has become one of the top players in CPA marketing; its affiliate program boasts regular payouts with attractive incentives for top performance.
It is not available in Kenya
Exness is a renowned forex and CFD broker that provides traders with various trading platforms, security measures, and reliable customer support. Additionally, Exness provides various deposit and withdrawal methods including popular payment services like Mpesa.
The site is user-friendly and provides comprehensive data about various instruments. Its intuitive navigation places all significant buttons in the left corner, making it convenient for traders to manage their portfolio and monitor market fluctuations.
Exness' mobile application for iOS and Android devices gives traders access to their account from anywhere. It features key features like push alerts and an extensive library of trading tools.
Exness offers a range of trading accounts, such as commission-free and commission-based ones, spread and fixed spread options. This makes it easier for both novice and experienced investors to select an account that best meets their requirements.
MetaTrader 4 and MT5 are two of the broker's premier trading platforms, available both online and by download. These programs boast an array of essential tools such as flexible trading systems, algorithmic trades, and live broadcasts of financial news updates.
MetaQuotes Software Company powers this trading platform, making it a widely-respected forex software developer. Furthermore, there's a live chat option available 24/7 to answer queries from investors and traders alike.
Additionally, it has a support PIN, an individual code that helps verify account owners when they contact customer service. This ensures only legitimate individuals can trade with the broker.
Exness' MT4 and MT5 trading platforms are supported by a mobile app for Android and iOS devices that allows users to access their accounts, conduct research, and execute orders from anywhere. This convenience allows them to stay productive while they wait for trades to go live.
Finally, it supports multiple deposit and withdrawal methods, including Mpesa (a popular payment choice in Kenya). However, it's important to remember that the option to withdraw via Mpesa may occasionally disappear from the trading platform; so it's best to switch up to another payment option instead.