Best Forex Proprietary Trading Companies In Nairobi

What is prop trading?

Proprietary trading (also known informally as Prop trading) refers to when a financial institution such as a commercial bank, a brokerage firm or even an investment bank directly trades or invests in activities in the stock market. These organizations can trade bonds, stocks, commodities, derivatives, currencies, and other instruments.

These institutions use their own funds for trading and investing in the stock market and not their clients’ money. So on top of the commission from processing trades for their clients, they can earn the full profits from engaging in the trades as well.

Top 3 prop trading accounts in the Nairobi

Topstep

Topstep Review

Open an account

Your capital is at risk.

As a broker, Topstep has always had an outstanding reputation, fantastic trader support, and very generous payouts. As a result of their current promotion, they're one of the best bargains in the industry for Forex trading.

You keep 100% of your first $5,000-$10,000 profit when you first get started (depending on which account you choose). In addition to that, you get 90% of your profits going forward, which is the industry's highest payout ratio.

Furthermore, Topstep has streamlined its two-step evaluation process, known as Trader Combine. The minimum trading requirement in Step 2 has been eliminated, so both steps can be completed in less than two weeks.

To pass the Trader Combine Topstep gives traders unlimited time to hit their profit targets. No matter how long it takes, just make sure you don't reach your loss limit or trailing maximum drawdown. While you're in the Trader Combine, you'll be charged a monthly fee, but once you're confirmed as a funded trader, those fees will disappear.

Fidelcrest

Fidelcrest Review

Open an account

Your capital is at risk.

With more than 6,000 traders worldwide, Fidelcrest has a strong reputation. The company offers performance coaching, million dollar account sizes, and up to a 90% profit split. During a limited time, Fidelcrest is also offering three bonuses, including a second chance challenge, fast track qualification, and double assets.

With Fidelcrest, you can trade real capital, with the industry’s highest profit split. Fidelcrest will invest real money after your two phases of evaluation.

In terms of tradable assets, Fidelcrest also stands out. In addition to Forex, you can also trade, commodities, indices, and stocks.

Fidelcrest is one of the prop firms that pays you a commission during the evaluation process. You can receive up to 50% of your earnings after you pass the second evaluation stage. As a funded Findelcrest trader, you’ll make an additional 80-90%.Fidelcrest is one of the prop firms that pays you a commission during the evaluation process. You can receive up to 50% of your earnings after you pass the second evaluation stage. As a funded Findelcrest trader, you’ll make an additional 80-90%.

The number of account options Fidelcrest offers is unmatched by any other company. There is an account that will meet your needs regardless of your risk tolerance, trading strategy, level of experience, or budget. There are three types of accounts: Pro Accounts, Aggressive Accounts, and Micro Accounts. You can open an account with funding of $10,000, all the way up to an account worth $1 million.

The5ers

The5ers Review

Open an account

Your capital is at risk.

The5ers are known for their unique ways of handling forex funded accounts. These methods may be beneficial to traders who would like to try something different.

The5ers take a completely different path from the other apps on this list. Each funded trading account is a live, real-money funded trading account funded by The5ers and tradeable by subscribers.

All forex majors such as EUR/USD, USD/CHF, and key cross-currency pairs such as AUD/CAD and GBP/JPY are tradable assets. Each trader must complete the Level 1 Program with a profit target ranging from 10% to 25%.

The Level 1 Program will be closed once the profit target has been archived by trading according to the guidelines. Profit will be distributed in accordance with the profit split, and a new trading account on the next higher financing level will be established with you as a Portfolio Manager Partner. The entry cost ranges from $275 to $875. The 5%ers offer a 50/50 split on profits.

Is Forex prop trading a good idea in Nairobi?

Yes. Forex prop trading is a good idea if you are an expert trader or a beginner trader willing to learn how to trade Forex with a lot of enthusiasm. Forex prop firms offer Kenyan traders the flexibility to open trading positions that surpass what their financial capacity says. In Forex proprietary trading firms, a trader's knowledge and expertise in trading currency pairs pave the way for them. Once traders pass the evaluation stage and prove their professionalism, they get access to a funded Forex account, although there are prop firms without challenge.

Additionally, since proprietary trading companies and institutions use their funds, clients are not concerned about having enough capital to trade. But how do Forex prop firms make money?

Prop firms use their extensive informational and technological resources to their advantage while implementing various trading strategies like arbitrage and technical analysis. As a result, reputable Forex prop firms profit when profitable traders use funded Forex accounts to execute their trades.

After sharing profits with the prop company, Forex prop traders also receive a convincing sum. Forex prop traders needs sophisticated trading tools to be successful; reputable Forex prop firms in Nairobi present them. Simply put, the number of successful traders a prop firm hires influences its revenue.

The benefits and drawbacks of signing up with Forex prop firms in Nairobi are as follows.

Advantages of Forex prop firms in Nairobi:

• Prop firms offer appropriate funding options and a simple path to becoming a profitable trader in Nairobi. Traders can also earn from a prop firm affiliate program.

• If a trade goes south and a trader loses, the prop firm will not ask the traders to cover the losses.

• Forex prop traders in the Forex market have access to sophisticated trading platforms, substantial data feeds, in-depth research reports, and cutting-edge analysis tools.

• Prop firms offer traders free trials and guidelines on ethical risk management

• Traders have access to tier-1 liquidity and compensation for increasing market liquidity.

Disadvantages Forex prop firms in Nairobi:

• There is a nonrefundable evaluation fee that you must pay when you first register, and there is a rigorous evaluation process.

• Prop trading companies typically have strict trading restrictions that traders must follow. Limitations on trade size and the maximum exposure to a single security or asset class are a couple of them.

• Some prop firms might have a low daily loss cap that keeps traders from increasing their trading volume to take a bigger loss.

Are international prop trading firms legit in Nairobi?

Yes. Traders can access the services of countless international prop trading firms in Nairobi. Investors are free to hire the services of a global firm if they want to trade Forex using a Forex prop firm in Nairobi.

By selecting an offshore prop trading company, traders can take advantage of high-leverage accounts and low-risk investment opportunities. However, as a beginner, if you want to become a Forex prop trader, be willing to complete a lengthy course in Forex trading.

You may have to research the Forex prop firm you choose to ensure it is reputable, as several fictitious Forex proprietary trading companies use duplicitous tactics to extort money from investors.

How to choose a prop trading account in Nairobi?

With the number of prop trading companies in Nairobi, traders' confusion over which companies to choose is common. However, if you are familiar with prop trading nuances and know how to locate the top Forex prop firms in Kenya, you are more likely to find the best.

The following list includes the crucial factors that Forex prop traders should compare when assessing Forex proprietary trading companies.

• 1

  Check the Forex prop firm's reputation. The reliability of a reputable Forex proprietary trading company in Nairobi is undeniable, but you can be certain if you evaluate their services.

• 2

  Check the restrictions and terms of the Forex prop firm. It is crucial to find out if the prop firm has any terms or guidelines that could influence how you trade because every trader has a different trading style.

• 3

  Verify how long the prop firm has been in business. Therefore, working with Forex prop firms interested in forming a long-term partnership is a wise financial move for traders. You need a trader who will not cancel the program within the first year of your membership.

• 4

  The drawdown limits, share ratio, and profit split. Study the broker split percentage to understand how it varies between brokers. However, you can look for prop trading companies in Nairobi that provide a 70% or even 80% profit share.

• 5

  Available markets, leverage, and customer support. Furthermore, it is crucial to comprehend the markets that can be accessed through the broker's trading platform, the limitations of leverage, and the responsiveness of customer support.

No, there are usually costs associated with participating in prop trading programs. A subscription fee (between $100 and $250) is applicable during your enrollment. Therefore, prop trading is not essentially free in Nairobi.

Methodology for compiling our ratings of prop firms

Traders Union applies a rigorous methodology to evaluate prop companies using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.

Key aspects of the assessment include: