KenTrade Account Type
KenTrade offers several types of trading accounts tailored to meet the diverse needs of investors in Kenya. The primary account types include:
- Equity Trading Account: This account allows investors to trade shares, exchange-traded funds (ETFs), and real estate investment trusts (REITs) listed on the Nairobi Securities Exchange (NSE).
- Forex Trading Account: Aimed at traders interested in currency trading, this account facilitates speculation on currency pairs through CMA licensed forex brokers.
- Derivatives Trading Account: This account enables trading in futures and options, allowing investors to hedge risks or speculate on price movements.
- Debt Trading Account: Investors can trade government and corporate bonds, taking advantage of fixed interest rates and market fluctuations.
- Demo Account: A risk-free account for beginners to practice trading strategies without using real money.
KenTrade Broker Account Opening Process
To open a trading account with KenTrade, follow these steps:
- Choose a Broker: Select a CMA-registered broker that suits your trading needs, considering factors like commission rates and available instruments.
- Registration and KYC: Complete the registration process by filling out the required details and submitting Know Your Customer (KYC) documentation, including:
- Full name and age proof
- Address proof
- Identity proof (e.g., ID card or passport)
- Photograph
- Email address and contact details
- Nominee details
- CDS Account Registration: After your trading account is set up, open a Central Depository System (CDS) account, which holds your investment assets in electronic form. Your broker can assist with this.
- Paper or Demo Trading: Before trading live, utilize a demo account to practice and test strategies with virtual currency.
- Start Trading: Once all accounts are set up, you can begin trading using KenTrade's web or mobile platform.
Kenke accounts can be viewed for products that can be traded accounts with a minimum deposit of by (2+) .