11/02/ · Binary Options are financial instruments that can generate a stable revenue with a proper risk management. The Investor has to predict if the price will rise or fall. The 13/02/ · Is Binary Options Trading Legal in Kenya? Yes. Trading and investing in binary options is completely legal in Kenya and above board. There’s no law that prohibits retail 25/08/ · Comparison between 3 Best Binary Option Trading Brokers in Kenya Features of Olymp Trade Features of Binomo Features of IQ Option Mobile Apps for traders Services for As mentioned earlier, binary trading in Kenya is considered a legal and legitimate investment activity by the CMA. However as the online financial trading industry in Kenya is still in its Binarybotkenya – binarybotkenya Get ready for the Best Automated Binary Trading Robot In Kenya We are Selling Automated Binary Bots, which have been Customised to help you in ... read more
Kenya has made giant strides in the financial technology space in Africa and beyond, powered heavily by mobile payments giant, M-Pesa.
How have binary options brokers been able to tap into this market? What are the attitudes and practices of Kenyan binary options traders? Kenya does not have a locally-based binary options broker.
Kenyan binary options traders ply their trade with offshore brokers. Most financial market investment within Kenya is done with the local stock exchange and government instruments such as Treasury Bills.
In Kenya, the financial markets are governed by the Capital Markets Act. This law also put the power of financial market regulation and supervision with the Capital Markets Authority CMA. In , the Capital Markets Authority decided to respond to the growing trend of forex trading in the country.
A study by the Standard Investment Bank of revealed that more than 50, Kenyans were participating in forex trading with offshore brokers.
The CMA responded by setting a new set of guidelines under a proposed amendment to the Capital Markets Act, seeking to regulate the conduct of forex trading in the country. However, the CMA was silent on binary options and has remained so till date. The implication of this silence by the CMA is that that binary options trading in Kenya remains an unregulated industry, leaving locals to trade with offshore companies that offer this product.
Sign Up. The Kenyan Shilling is not a traded currency on the global financial markets. As users of platforms of offshore brokers, Kenyans are exposed to trading several major, minor and exotic currency pairs. Without local binary options brokers in Kenya, Kenyan traders are forced to trade currency assets that they are not ordinarily familiar with.
However, Kenyans will find it easier to trade commodities such as copper and gold, as these are assets that are found regionally in East Africa and nearby South Africa. It is expected that Kenyan traders would be more familiar with the fundamentals of these commodity assets and be able to trade them on offshore platforms.
Kenyan binary options traders usually trade binary options on the platforms of binary options brokers located in Cyprus and other jurisdictions such as Belize, St. These binary options brokers offer their clients turnkey platforms that have been developed by companies such as SpotOption, Tech Financials, O-Systems, Tradologic and Hello Binary. Kenyan traders will be given binary options bonuses by brokers located in areas where they are still valid. However, changes to the regulation regarding the issuance of bonuses by CySEC have been a game changer, as traders will not be given bonuses by Cypriot binary options brokers.
Kenya has an advanced fintech industry which has promoted financial inclusion. Most of this has been powered by M-Pesa, a company which provides mobile payment and digital wallet services to Kenyans, including Kenyan binary options traders. With this in mind, how do Kenyan binary options traders transact on the platforms of offshore brokers? What are the legal considerations and regulatory conditions attached to the conduct of the brokerage and trading of binary options in the Kenya?
Here are the frequently asked questions that most people have about trading binary options in Kenya. However, if your prediction comes out wrong, you will lose all your money and be left with nothing, which is why it is called all-or-nothing trade. These are the top three brokers if you want to get into Binary Options trading as Kenyan citizen:.
Below you will get more detailed information about the support, payment methods e. Besides, you get access to special video tutorials and webinars. The icing on the cake? If you are a big fan of certificates and awards then, Binomo can be your best bet because it has many awards and certificates in its arsenal. But, most importantly, it is licensed by the Financial Commission under category A. Besides, Binomo is a trusted and certified broker.
The IQ Option is approved by CySEC a financial body regulated by the EU. You can learn trading by spending them. They do not charge any deposit fee, and withdrawals mean you will get the entire amount in your bank account without any convenience charge.
Online trading in Kenya is still in its initial stage. The governing body of financial securities in Kenya aka.
Capital Markets Authority or CMA is yet to impose any regulations on trading. CMA was developed in , and its work is to regulate, supervise, license, and monitor financial markets in Kenya. So, as for now, there are no regulations on binary options trading in Kenya; however, CMA is working closely with international bodies and is developing a framework to govern online trading in the future.
Some of you might feel better when they can trade whereever they are. Therefore you need a good mobile application that allows you to do so. You can use it to become a successful trader and analyze the market in a better manner.
Binomo app is one of the safest mobile trading apps. IQ Option offers a top-notch mobile trading platform. Its user interface is clean and intuitive and designed to meet the needs of new and experienced traders. Binary Options brokers offer many ways to deposit money to your account. Olymp Trade offers several ways to deposit money. These include Bitcoins , Neteller , Globe Pay, and WebMoney. Binomo Broker is an excellent option for new traders. You can easily make a debit card to credit card to make a deposit.
Kenya does not impose any sanctions on sending or receiving money from any third-party app, making your money withdrawal simple too. None of them charge even a penny for withdrawing your money. Moreover, you get multiple payment methods to choose from. Luckily, withdrawals are free on Olymp Trade.
Besides, withdrawal requests are processed in less than a day. You will have to use the same process to withdraw as you used for the deposit. It will take a few minutes to 3 days to cash out your trade earnings. All you will need is a bank card to withdraw money , and it will take a maximum of 3 business days to get it in your account.
Sometimes you need assistance — in trading but also with the system itself. If there are any issues good customer support is necessary. You can easily access customer support via live chat, email, or filling out a contact form. You can choose from a variety of language options. The best way to access customer support with Binomo broker is via live chat. You can choose to talk to customer support representatives via live chat, email, or phone. After having learned so much about Binary Options Trading, you must be wondering about its benefits.
And, well, rightly so you must know about them since you are about to invest your hard-earned money in that. However, there is a high risk in Binary Options Trading, and the rewards are staggering too.
If you want to increase your money manifold, there is no better option than Binary Options trading. This is a relatively new concept in Kenya but is gaining momentum rapidly because of its high reward nature. Although the risk is high in Binary options trading, it can never exceed your deposit amount. Unlike Forex trade, where things are uncertain, everything can be clearly defined in Binary options trading. As a wise trader, you are always aware of how much you can lose.
So, you can never be in a shock-and-awe when it comes to binary options trading. You can choose how much you want to risk based on your capacity, which is an excellent benefit of binary options trading. Moreover, some brokers also reward their traders after losing. Well, there is nothing hidden from the end trader in binary trading.
You already know there can only be two outcomes, and things may fall either way. Even a beginner can try his luck in binary options trading as brokers provide demo accounts that can allow an amateur trader to get a glimpse of real-time trading. Website interfaces of such brokers are also user-friendly, so it is easy for novices to understand what the app or website is all about.
You do not have to wait for months for the result. Binary options are fast. They are traded in a 15—minute window and sometimes an hour. The quick process allows the users to trade multiple times in a day and enhance their profits. It is best for people looking to make quick profits and end their day on a high. Some trades are even valid for 60 seconds only. Here a trader has to choose among the two options, and the results will be out in the next 60 seconds.
You can trade with almost every asset in Binary Options Trading. You can either choose gold, silver, or shares to start your trade. Some traders find themselves experts in a few assets only; this trade allows them to invest in those assets only and increase the probability of their winnings. Some companies may do well during a particular time, while others might find themselves dipping. As a wise trader, you can predict using trade indicators and invest accordingly.
Binary options trading is just not confined to experienced campaigners. Instead, even a layman can start trading through them. Brokers have different binary options for novices where the level of risk is a bit less along with low levels of profit. However, if you do not want to invest in the first go, demo accounts are always a good option.
You can trade through virtual money, and neither the profit nor the loss will be yours but, you will learn much-needed things about trading. Unlike Forex trading, where you cannot back off once invested, Binary Option allows you to step back in between the trade time.
Originally though, it was only large institutions and the fabulously wealthy that had access. However certain regulatory changes made them to suddenly become really popular and accessible to the average investor.
Put simply, binary options are a derivative that can be traded on any instrument or market. They appeal because they are straightforward. You know precisely how much you could win, or lose before you make the trade. No complex maths and calculator is required.
If you anticipate news announcements, quarterly reviews, or global trends, then you may be able to make an accurate determination as to whether the price is going to increase or decline at a certain point in the future, turning a profit. There is a whole host of derivatives to choose between. You can trade binary options on commodity value, such as aluminium and crude oil. You can opt for a stock price, such as Amazon and Facebook.
There are foreign exchange rate options, including all the major and minor pairs. Even cryptocurrencies such as Bitcoin, Ethereum, and Litecoin are on the menu. As it stands, with low barriers to entry for savvy day traders and a simple to understand preposition, the demand for these digital trades will only increase. Despite the somewhat negative reputation, the reality is binary options are legal.
The majority of companies operate fairly. Opinions have been split because there are some out there that operate scams.
Regulation in certain regions has meant binaries have been withdrawn from the retail market. Meanwhile, the product range has been widened or reinvented. No matter where in the world you are, traders should make sure they use a reputable broker, and read our section below on avoiding scams.
Also known as digital options or fixed-return options, binary options is a special type of options trading in which the payoff is either a fixed predetermined amount or nothing at all. For the common Call or Put binary option, the trader enters a BUY or CALL trade if he thinks the price of the underlying asset will go up above the current market price; otherwise if he thinks the underlying asset price will go down, then he will go for a SELL or PUT option.
If his assessment is correct, he will receive a payout. Otherwise, he loses the initial investment. The payout is also fixed and known prior to entering the trade.
Binary options also typically have very short expiration times ranging from as fast as 60 seconds to just a few weeks. Still on the issue of comparing CFDs and Binary Options Trading, in binary options trading, even though you are still investing without owning the asset in question, the gain and loss rate is fixed. So, to define the difference — with binary options you get fixed risk.
Having said that, just as if it was binary options versus forex trading, you are restrained in your profit potential. If you want to profit trading binary options, you need to first understand both their pros and cons.
You need to make sure binary options will suit your trading style, risk tolerance, and capital requirements. Because you are making a determination on only one factor, direction, your bet is straightforward. The price can only go up or down. Whereas in other markets, you may need a system to limit your losses, such as a stop-loss. With binaries, your risk is kept to a minimum with far fewer parameters. Because you know what you may make or lose before you enter the trade, you have greater control from the start.
Trade in stocks, for example, and you have no guarantee that your trade will make the entry price. Compared to other trading, the returns in binaries are extremely attractive. Rather than being constrained to a specific market, e.
cryptocurrency or stocks, binary options gift traders the opportunity to trade instruments across virtually all markets, allowing you start currency, indices, and bonds trading if you so wish. So, you can login at night, or on the weekends and join the groups of avid traders attempting to turn daily profits.
Whilst there are plenty of reasons to delve into trading on binary options, there remain several downsides worth highlighting:.
If the odds of your binary trade succeeding are extremely high you may have to make do with reduced payout odds. Whilst most brokerages offer advanced charting and analysis capabilities, trading tools for binary traders often fall short of the mark. Fortunately, there are other online sources for these graphs and tools, plus brokers are working swiftly to increase their offerings.
Your odds are tilted in favour of losing trades. Unlike other markets, brokers often set a trading floor, with minimum accounts a trader needs to enter the market. This means losing capital can happen with ease. Binary options trading hinges on a simple question — will the underlying asset be above or below a certain price at a specified time?
If so, you can make substantial profits with one of the most straightforward financial instruments to trade. There are a number of different option types to choose from. The most popular types are listed in the brief glossary below. The most simple and prevalent binary option. Will the price be higher or lower than the current price when the expiry time comes? Here, a high and low figure will be set. You are then making a determination as to whether the price will finish within or outside of these boundaries.
Levels will be set that are either higher or lower than the current price. Payout will come as soon as the touch takes place. However, instead of using the current price, the ladder will have pre-determined levels that are staggered up or down.
These normally demand a substantial price move. Although it is worth noting, both sides of a trade are not always available. You can trade binaries in pretty much everything, including stocks, forex, indices, and commodities. You can bet on anything from the price of natural gas, to the stock price of Google.
Opt for an asset you have a good understanding of, that offers promising returns. Another important component of binary options is expiry times. This is when the trade will end and the point that determines whether you have won or lost.
These times can range from 30 seconds and 1 minute turbos to a full day end of day , and even up to a whole year. As an intraday trader though, you will be more concerned with trading 5 and minute binary options. Opt for binaries with 1 minute expiry times though and you have the ability to make a high number of trades in a single day.
In the binary options game, size does matter. The greater your investment the greater the possible profit. On the flip side, remember the entirety of your investment is on the line. You need an effective money management system that will enable you to make sufficient trades whilst still protecting you from blowing all your capital. Binary Options is not a separate market in itself; it is merely a method of trading and profiting from the major markets. Many of the most popular financial instruments such as currency pairs, equities and commodities are available to trade using binary options.
As such, it is the most popular market for binary options traders. Trading currencies using binary options is much more convenient when using a mobile phone than it is to trade currency futures. Other popular commodities available for trading include: Coffee, Corn, Silver, Platinum, Sugar and Wheat. You will be able to trade binary options on large capitalization stocks such as Amazon, Google and Facebook.
Another factor for this is the ultra high volatility that Cryptocurrencies have. Typically, cryptos can move high percentages in a single day. Many people think it is another form of gambling, especially considering the fact that it has some similarities with the traditional gambling system. For instance, it works on the up or down system just like Gambling works on the win-or-lose system.
Also, it has a fixed payout and an expiry period. But binary options trading is not gambling. It is based on speculating on the movements of prices of financial assets. In order to trade binary options, you will have to register at a binary options broker. Some traders might not necessarily be that tech-savvy and might not always know what steps will have to be taken in order to register at such a broker.
Binary options brokers have somewhat long sign up processes on the web. This is actually in order to protect traders in case of potential abuse. There are two types of binary options accounts offered by brokers. One is the real money account that will require traders to make a real money deposit. Using this account type, traders will have the possibility to win real money by trading financial assets. Before registering at a broker, traders will have to choose one of the two account types.
We recommend that you follow this route of first creating a demo account first, after which you now upgrade much later. When you create your account, the broker will ask you to submit your personal details such as name, address, and similar. This verification process will involve traders having to scan either their ID cards or one of their utility bills and submitting it to the broker.
In the end, the aim of the broker is to protect you. After completing this registration process, you can then go on to sign up. This is one of the most common questions asked by traders, especially those new to binary options trading.
13/02/ · Is Binary Options Trading Legal in Kenya? Yes. Trading and investing in binary options is completely legal in Kenya and above board. There’s no law that prohibits retail Binarybotkenya – binarybotkenya Get ready for the Best Automated Binary Trading Robot In Kenya We are Selling Automated Binary Bots, which have been Customised to help you in As mentioned earlier, binary trading in Kenya is considered a legal and legitimate investment activity by the CMA. However as the online financial trading industry in Kenya is still in its 17/03/ · He has made a name for himself in the industry and is considered by many as the best binary options trader in Kenya. His company Paris Fx not only trains on how to trade 25/08/ · Comparison between 3 Best Binary Option Trading Brokers in Kenya Features of Olymp Trade Features of Binomo Features of IQ Option Mobile Apps for traders Services for 11/02/ · Binary Options are financial instruments that can generate a stable revenue with a proper risk management. The Investor has to predict if the price will rise or fall. The ... read more