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In recent years Kenya has become a hotspot for Forex trading. Many Kenyans find it an easy way to earn money through trading forex. This article describes the different ways in which Kenyan traders can go about this business. However, there is no specific set of methods or rules that should be followed for forex trading in Kenya as opposed to other countries around the world. Hence, many forex brokers in Kenya find it easy to offer their services to Kenyans.
Kenya has not banned trading in the international currency market, and forex trading is therefore legal. However, the Bank of Kenya can suspend operations of any company found to be engaging in speculation or money laundering. Forex trading is not regulated in Kenya, with the exception of forex dealing in relation to foreign exchange contracts and currency conversion operations.
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