Best Apps for Trading Without Investments in Kenya
With the widespread adoption of smartphones and availability of low-cost mobile data, many Kenyan traders are now able to access global financial markets directly from their devices. This has given rise to innovative trading applications that provide opportunities for Kenyans to trade currencies, stocks, and other assets without needing to make any initial investment. In this article, we explore some of the best apps that allow users in Kenya to open and start trading Forex and CFDs without depositing any money. We discuss their key features and benefits. Our focus is on platforms that offer no-deposit bonuses, low minimum deposit amounts, competitive spreads and reliable trading environments.
Key points from the article
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Some of the top trading apps mentioned are Roboforex, XM Group, FBS and OctaFx. These brokers offer no deposit bonuses, low minimum deposit amounts, deposit bonuses etc. to allow traders to start without investing money.
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Apps provide tools like MetaTrader platforms, tight spreads, high leverage for trading various assets.
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Traders can also participate in broker contests and competitions to win prizes and bonuses without depositing money.
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Referring other traders is another way to generate income from forex trading without investing.
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In addition, an alternative option is a funded trading account, that allows traders to gain experience by managing real money ($25,000-$500,000) provided by the funding firm, after proving their skills on a demo account.
How can I trade in Kenya without investment?
It is very possible to trade in Kenya without any initial investment, and these are some of the ways you can do that.
Forex affiliate programs.
This Forex money-making strategy doesn't require direct trading or any investments. With the affiliate program, you can earn money by referring new customers to the broker. That's all there is to it; the broker gains a new client, and in return, you get paid.
Most of the time, the newly registered trader needs to make a deposit and occasionally, make trades. For those who are socially active and use social media frequently, this is fortunately a way to make money.
No-deposit bonuses.
The most well-liked method of trading Forex without capital is with no-deposit bonuses. As the name implies, there is no initial deposit required to begin trading; that is, you do not have to fund your account with personal funds. Select a broker, sign up on their website directly, and as soon as you open your first account, you'll receive the no-deposit bonus right away!
The bonus is only offered once, and brokers forbid the immediate withdrawal of bonus money in the absence of profitable trades because a large number of traders would simply register, take their bonus, and leave.
Broker Competition
Another way to make money on Forex without investing is to participate in various competitions. All traders who adhere to the contest's requirements, which are outlined by the broker, are eligible to win real money payouts. For instance, make the most profitable trades in a demo account in a single day, or earn the most on a cent account in a week.
Contests are a fantastic way to profit on the forex market without making any investments. Contests only have their inconsistent nature as a drawback. As a result, such contests should not be regarded as a consistent source of income, but rather as a one-time income boost.
Best Forex Trading Apps in Kenya to Earn Money Without Investment
Now, let us direct your attention to reliable brokers and trading platforms in Kenya that provide services that allow you to begin earning money without using any of your own money.
RoboForex
Roboforex has a wide selection of trading platforms and tools, including the industry-leading MetaTrader, cTrader, and its proprietary R Trader. These platforms provide access to over 12,000 financial instruments, including forex, stocks, commodities, indices, and cryptocurrencies.
RoboForex offers its new clients a $30 no-deposit bonus when they register an account, providing them full access to the comprehensive trading solutions offered. Also, the broker has a very low minimum deposit of $10, which allows you to start trading without making large investments. You trade over 8000 stocks with the minimum fee.
XM Group
One of the key features of XM is its low minimum deposit requirement. With just $5, forex traders in Kenya can open a real account and start trading a wide range of financial instruments. This makes XM an ideal choice for beginner traders who want to test the waters and gain experience without risking a significant amount of money.
In addition to its low minimum deposit requirement, XM also offers tight spreads and high leverage levels. This means that traders can take larger positions and potentially make bigger profits, without incurring excessive trading costs.
XM Group offers Kenyan traders a $30 no-deposit bonus when they register a live trading account, providing them with ideal trading opportunities without risking their own capital. In addition to forex, stock CFDs, commodities, equities, precious metals, energy, and shares, XM Group (XM) is an institutional dealing desk broker.
XM Bonus Programs - How to Get Up to $5.000FBS
FBS 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.
FBS's low minimum deposit requirement is one of its distinguishing features. Traders can open a real account and begin trading the financial markets for as little as $1. This makes FBS an appealing option for Kenyans who are just getting started and don't have a lot of money to invest.
Overall, FBS is the best Kenya Low Minimum Deposit Broker. FBS offers Kenyan investors a diverse suite of trading products as well as a robust and feature-rich mobile trading platform. FBS enables traders to get started with a low initial investment and offers a no-deposit bonus.
When Kenyan traders register with FBS for the first time, they will earn a sign-up and a welcome bonus of $70 on their real account. Traders who validate their email address become eligible for a $140 sign-up bonus when they create a Level-Up Bonus account in the FBS Personal Area.
FBS Bonus - How to Get No Deposit Bonus $140OctaFx
All new Kenyan clients who open an account with OctaFX receive a free $8 Welcome Bonus. Clients can use this money to trade in real-time markets and learn about them before risking their own money.
After Keyan traders deposit funds into their trading accounts, OctaFX offers a 50% deposit bonus. The deposit bonus is the same as the welcome bonus, which is available for an indefinite period of time and with each deposit made by Kenyan traders. The broker also offers a referral bonus to Kenyan traders.
Furthermore, traders should be aware that this bonus is only applicable to live trading accounts, not demo accounts. The bonus cannot be combined with an internal transfer of funds, and traders cannot claim a new bonus until the terms of an existing bonus have been met.
Alternative option. Best Forex Funded Trading Accounts in Kenya
SurgeTrader
SurgeTrader is a prop company that offers traders capital from USD 25,000 to manage after passing the exam. It is a multinational company headquartered in Florida (USA). Financing is provided by the venture fund Valo Holdings.
Surge Trader - Pros and Cons for BeginnersTopStep
Topstep is an international proprietary trading company registered in the USA. The company has been providing financial services since 2012 and offers exclusive trading terms for clients from different countries. Topstep provides financing of real trading accounts of its clients if they prove the skill to make trades and manage risks on a simulation account. Traders can attract up to $500K. Traders can trade CME Group futures and currency pairs. Trading on real accounts is carried out through the ECN broker Equiti Capital.
Topstep Affiliate Program ReviewCan I start trading without a minimum deposit?
Yes, you can. Many brokers do not require a minimum deposit, or require a symbolic minimum deposit of 1-10 dollars. They offer free no-deposit bonuses, enabling the trader to start his business without depositing anything. These bonuses will be appropriate for traders who want to work in a risk-free environment where they can figure out the real-life outcomes of their trading techniques without investing any cash.
How Much do I need to earn decent money?
Technically, there’s no minimum amount of money needed to start investing in stocks. But you probably need at least $500 to $1,000 to really get started right. Most brokerages have no minimums to open an account and get started buying stocks. So theoretically, you could open an account today with just $1. Bonuses can help with this a little.
How to trade without investment?
It is possible to trade Forex without investment,and numerous methods are available for those who wish to start forex trading without making an upfront investment.
Get the no-deposit bonus
The most popular method of trading Forex without capital is with no-deposit bonuses. As the name implies, there is no initial deposit required to begin trading; that is, you do not need to deposit personal funds into your account.
Simply select one of the brokers from our list of reviewed brokers, sign up, verify your account, and wait for your bonus.
Join a contest.
In recent years, participating in Forex competitions has grown to be one of the most thrilling ways to learn about the markets, hone your trading abilities, and demonstrate your talent for a chance to win fantastic prizes and bonuses. You can use the rewards and bonuses to start your trading career.
You must open a Forex trading account with the broker in order to participate in the Forex competition. You can simply sign up as a participant and begin trading when the contest opens because it is a free entry contest. Many Forex brokers regularly hold competitions to encourage and entice new traders to start trading Forex without making an initial investment.
Become a forex Introducing Broker
This is suitable for anyone with a financial interest and has the power to persuade traders of a broker's advantages. Simply create a live trading account with the forex broker, get your referral ID, and start referring people in your network to the broker you partnered with.
Team that worked on the article
Winnifred Emmanuel is a freelance financial analyst and writer with years of experience in working with financial websites and businesses. Her expertise spans various areas, including commodities, Forex, stocks, and cryptocurrency. Winnifred tailors her writing to various audiences, including beginners, while also providing useful insights for those who are already familiar with financial markets.
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.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).