GANN Markets Kenya Review 2024 - TU expert opinion
Is the Forex market legit in Kenya?
Forex trading is legal in Kenya. The residents of the country have access to services of a number of large international brokers. The Capital Markets Authority regulates the operation of financial organizations in the country. Brokers obtain the CMA license in order to provide financial services in the country.
CMA does not impose substantial restrictions on the operation of brokers. Traders can trade any assets. There are no requirements for the automatic Stop Loss or trading amount limitations. Leverage trading is available.
How to Trade Forex in Kenya
Before you start trading, choose a reputable broker with the license of the Kenyan regulator. Next, you need to register on the website and verify your account. The next step involves funding your account using a debit/credit card or another option. Now you can choose an asset, determine the lot and start trading while observing capital management rules.
Detailed Review of GANN Markets in Kenya
GANN Markets is a good choice for traders from Kenya. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.
Gann Markets is a young CFD broker with a customer-oriented approach. It offers accounts with instant and market order execution, low floating spreads, and leverage up to 1:400. Security of deposits is guaranteed by the Financial Commission, and Gann Markets' cooperation with large liquidity providers ensures execution at the best prices. The broker doesn’t prohibit the use of strategies for passive income and constantly expands the range of available bonuses.
Gann Markets' success by the numbers:
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Allows access to trade 90+ Forex pairs.
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Supports over 300 payment methods.
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Has 6 international awards.
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Processes a request to open an account within 3 minutes.
Advantages of GANN Markets for trading in Kenya
Traders Union analysts conducted a detailed analysis of GANN Markets for traders from Kenya. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:
Easy and quick online account opening.
Many available ways to deposit and withdraw funds.
Support is active around the clock during trading sessions.
Daily update of news feed on the site.
Access to copy trades of successful market participants.
The broker doesn’t withhold fees for deposits or withdrawals, account maintenance, or software. Clients pay only trading commissions.
Analysis of the Main Features of GANN Markets in Kenya
Traders Union analysts analyzed the key features of GANN Markets for traders from Kenya. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for GANN Markets traders from Kenya
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of GANN Markets trading conditions for traders from Kenya. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.
| 💻 Trading platform: |
MetaTrader 4 (Windows, MAC, Android, iOS)
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|---|---|
| 📊 Accounts: |
Demo account, Standard account, ECN account, Standard Swap-free account, ECN Swap-free account
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| 💰 Account currency: |
USD
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| 💵 Replenishment / Withdrawal: |
Cards local, cards international, eWallet, bank transfer, prepayment, internet banking, cash (Western Union, Express de Lider, 7 Eleven, etc.)
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| 🚀 Minimum deposit: |
From USD 100 + Leverage
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| ⚖️ Leverage: |
Up to 1:400
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| 💼 PAMM-accounts: |
No
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| 📈️ Min Order: |
0.01
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| 💱 Spread: |
From 0.7 pips (Standard account), from 0.1 pips (ECN account)
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| 🔧 Instruments: |
Currency pairs, stocks, CFDs, indices, commodities, cryptocurrencies
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| 💹 Margin Call / Stop Out: |
100% / 20%
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| 🏛 Liquidity provider: |
No data
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| 📱 Mobile trading: |
Yes
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| ➕ Affiliate program: |
Yes
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| 📋 Orders execution: |
Instant execution (Standard account), Market execution (ECN account)
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| ⭐ Trading features: |
There is a fee for inactivity and advisors. Scalping and hedging are allowed.
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| 🎁 Contests and bonuses: |
Yes
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GANN Markets Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by GANN Markets for traders from Kenya. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
Trading commissions at Gann Markets differ depending on the account type and financial instrument. The broker holds spreads on Standard accounts, from 0.7 pips on EUR/USD. ECN accounts have almost zero minimum spread (from 0.1 pip), but there is a commission of $7-10 per lot. The exact amount depends not only on the asset traded but also on the initial deposit amount. If the client account remains inactive for over 100 calendar days, Gann Markets deducts an account maintenance fee of 10 USD/9 EUR/700 RUB per month. The broker doesn’t charge a fee for deposits or withdrawals.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | from $7 | Accrued by banks and payment systems |
| ECN | from $1 | Accrued by banks and payment systems |
There is a swap fee — commission for shifting transactions to the next day.
We also compared the size of the average trading commission of Gann Markets with the fees of other Forex brokers. See the data in the table below.
Expert Review of GANN Markets
Gann Markets is a relatively young broker, which initially provided services to traders from Turkey and neighboring countries. However, at the moment it has expanded its coverage area and entered the international level. Gann Markets strives to satisfy the needs of traders of different levels, so it provides both standard and ECN accounts. You can also open a demo account and an Islamic account here.
Previously, the company offered accounts with fixed and floating spreads. The website still doesn’t provide any information about it. However, according to the support service, now clients can trade only with floating spreads, which are low at Gann Markets. On ECN, spreads start from 0.1 pips like many other brokers. Commissions are higher on the standard accounts (from 0.7 pips), which is also quite typical for Forex.
There are no contract specifications on the Gann Markets website, so a potential client will have to request them from support services. Chat operators don’t provide in-depth answers to questions about trading terms. So you are welcome to communicate with the manager by phone or on WhatsApp to find out more information. Also, it is worth noting that the absence of cent accounts on the Gann Markets platform is a disadvantage.
FAQs
Is GANN Markets legal in Kenya?
Yes. GANN Markets operates legally in Kenya. The broker holds the necessary licenses.
Can you learn trading with GANN Markets? Does the broker offer courses for traders from Kenya?
Yes, GANN Markets offers good trading courses and a lot of educational information for clients from Kenya.
Can GANN Markets be trusted? Has the broker been operating in Kenya long?
GANN Markets has been operating in Kenya quite long and has a good reputation. Therefore, traders can work with GANN Markets.
Is GANN Markets suitable for novice traders from Kenya?
Yes. GANN Markets offers optimal trading conditions and good education for beginners from Kenya.
How efficient is GANN Markets customer support in Kenya?
GANN Markets offers a sufficient number of ways to contact customer support in Kenya, and also provides support in the state language.
Has GANN Markets had any incidents involving theft of funds of clients from Kenya?
No. GANN Markets provides reliable security of funds of clients from Kenya.
Will I be able to file a lawsuit in Kenya if GANN Markets violates my rights?
Yes. If GANN Markets violates your rights, you can file a complaint with the regulator of Kenya, and then with a court.
Can GANN Markets clients from Kenya use the broker’s mobile app?
Yes. The mobile app of GANN Markets is available for the clients from Kenya.
Does GANN Markets provide Kenya market analysis?
Analysis of Kenya is featured in the information provided by GANN Markets.
How can I withdraw funds from my account at GANN Markets in Kenya?
GANN Markets supports bank transfers and debit/credit cards of the banks operating in Kenya.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!