Rating Index
Pros
$800 no deposit trading bonus for new clients, allowing risk-free trading to start.
Offers a wide range of trading instruments similar to other brokers.
Promotional campaigns that may attract new traders looking for bonuses.
Cons
Lacks proper regulation, raising concerns about the safety of funds and legitimacy.
Multiple reports of deceptive practices, including false claims about licensing and account management.
No customer feedback or reviews available, indicating a lack of trust and transparency.
Kenke broker Accounts
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.
- 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.
KenTrade Broker Account Opening Process
To open a trading account with KenTrade, follow these steps:
Kenke Similar Broker Accounts
Explore broker markets account types: forex/trading accounts with demo access.
Kenke accounts can be viewed for products that can be traded accounts with a minimum deposit of by (2+) .