introduce proper Forex regulation, so that brokers can legally operate and traders trade there. Sentiment analysis: This kind of analysis is largely subjective. Spreads are either fixed or variable. You can ask for the paperwork by mail or download it, usually in the form of a PDF file. For example, if you want to trade 100,000 units at a margin of 1 percent, your broker will require you to put 1,000 cash in an account as security. If you intend to trade much larger volumes and have over 10 thousand dollars you can try to apply for a standard account and trade volumes that exceed 100k. Essentially, you try to analyze the mood of the market to figure out if its bearish or bullish. Its up to you what kind of spreads are better for your trading style. Sometimes, unscrupulous brokers will go into review sites and write reviews to boost their reputations.
Online forex trading in Kenya is being introduced as a lucrative business but only few people have the knowledge of it especially here in Kenya.
The Capital Markets Authority (CMA) has licensed Execution Point Lt d to operate as an online foreign exchange broker, becoming the first such.
Brokers charge fees from their customers for transactions. The Central Bank does not set the exchange rate; it is determined by the market, or supply and demand. You can try several different methods: Technical analysis: Technical analysis involves reviewing charts or historical data to predict how the currency will move based on past events. If you do decide to start trading you will need to look for a broker that is recognized by an authorized governmental institution as a legal entity.
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Forex is the most lucrative trading business around and there is no law prohibiting private forex trading. All most popular technical indicators there and you can create one of your own if you know how to do some programming on the station. You would also want to check what trading platform the company has, if any at all. Read reviews but be careful. It still does not have proper Forex regulation and so brokers offering their services in the country operate without any law to govern them. You need good customer support, easy transactions and transparency. You should also gravitate toward brokers who have a good reputation.