Looking for a broker

I am Robert from Kenya looking for guidance that will lead me to a good broker

Hi Robert! Choosing the best broker depends on your needs and style while trading. Do you have any list of brokers you’re eyeing at?

Agree with Baemax over here. :blush: I found this thread from another user in Kenya and the answer given by the admin might be useful for you too. :smiley: Apparently, there are only 3 forex brokers regulated to do business there and I guess it would be best to just choose among these 3. :open_mouth:

I totally agree with the above posts that before selecting a broker you need to know Know what kind of trading you want to do, which type of broker you want: regulated or unregulated, in which deposit and withdrawal options you are comfortable with.
For reference, if you want to go with regulated ones, try out IC markets and FX pro, or if you want to go with unregulated ones, try with Alpari and turnkey forex.

Hi Robert, you must look into these things when deciding on a broker:
Minimum balance requirement - Depending on your capital size, you can choose a broker that does not put a strain on you financially. Both of my brokers, Fxview and XTB, don’t have any such requirements. You can start trading with whatever amount you are comfortable with.
Spreads and commissions - These are like the fee that the brokers charge in return for their services. Those who don’t charge commissions and offer 0 pips as spreads, stipulate minimum trades to be done per month in order to avoid charges. This never works in favour of beginners.
Trading strategy - You need to decide on the strategy that you are going to employ and check whether the broker you choose allows that. Some brokers very categorically prohibit scalping but Fxview allows day trading as they have advanced servers that can handle bulk transactions.

A no experience trader here, so please spare me the snare for my likely stupid question. Do we have to pay for indicators too? Need more info on mentioned names: fxview, ig.

as I mentioned here, I do day trading with fxview and haven’t had much issues. about forex indicators, most are paid (you certainly pay a price for their advanced features). A couple of indicators in mql5 platform are free. Both IG and Fxview come with indicator packages. I am only using Bollinger bands with fxview. Can get more info on their website.

You can checkout demo account offered by Forexchief.com. It’s an offshore but regulated broker I think you will be satisfied with its services both on demo as well as later on when you would switch to a live account. It offers low spread/ commission and is prompt in sorting out issues.