KNOW YOUR BROKER EPISODE 1

 
Hey guys, here's a know your broker episode with a review of the various brokers that one can use for trading.

In Kenya, there's a list of brokers that are regulated by the Capital Markets Authority and they offer financial markets services. They are :

1. Scope Markets Kenya
2. FX Pesa
3. Exness
4. Pepperstone
5. HFM Markets
6. Ingot Brokers
7. Windsor Brokers
8. IC Markets
9. FP Markets

Let's start by learning how to identify a trustworthy brokerage firm. These are the key steps to identify a trustworthy brokerage firm : 
1. Licensed and regulated. Are they licensed and regulated by the Capital Markets Authority in the country? One can easily confirm that on the Capital Markets Authority website.

2. Physical location. Do they have a physical location that you can visit in case of any assistance required?

3. Education. Do they have educational services to help their traders and investors to learn how to trade and invest their capital?

4. Deposit and Withdrawal methods. Do they have a flexible mode of deposits and withdrawals ranging from various mode of payments? Are their deposits and withdrawals instant or do they take long?

5. Customer Support. Do they have an efficient customer support service? Are issues diligently resolved and clients service satisfactory?

6. Variety of asset classes. Does your broker offer a wide variety of asset classes to trade?

7. Reviews. What kind of reviews does your broker have online? Do they have have good and positive reviews or are the reviews negative?

8. Trading Community. Does your broker have an active trading community? Does your broker value a trading community?

Does your broker meet the above criteria? Before depositing your funds into any financial markets brokerage, watch out for the above key points and make a decision after deep research. Stay tuned for part 2 as we get deeper into breaking down the services of the various brokers. Cheers.