How to Learn Forex Trading in Kenya

The first process of becoming a successful forex trader is learning. Investing in learning has no alternative or shortcuts. There are various available ways how to learn forex trading in Kenya.

Some of these are freely available while others come at a cost. The choice of the best learning process is dependent on various elements such as;

·   Cost

There are numerous forex trading schools and individual trainers that offer forex training across the country at a cost.

Hence, access to their services will depend on your ability to meet the costs. However, if you are a beginner with capital challenges, you can choose to take the numerous free lessons available online on sites such as YouTube and google.

Forex trading brokers are also required by law to offer free lessons to their customers. Hence, this is also an avenue that you can consider if you have no funds to pay for paid training.

·   Needs

Different traders have various needs that affect the learning choice. As an example, beginner traders have different needs from experienced traders.

The need helps to define the appropriate learning material and objective. As an example, most experienced traders tend to focus their learning on advancing what they already know. Hence, they may mostly go for paid lessons.

It is different for a beginner whose major need is to understand the basics in the markets. Information that can be freely and easily found online.

·   Location

This mainly affects physical school learning. Some learning such as attending classes or meeting with your trainer is highly dependent on the location. If you are further from the school, them attending physical lessons could become a challenge.

This leaves you with the option of doing online learning instead. Although it is effective, physical learning remains king.

Most of the forex trading schools are also located in the urban areas making it challenging if you are not in these areas.

Some other challenges also come with the location such as access to the internet and electricity. Elements that are also critical when discussing how to learn forex trading in Kenya.

How to learn forex trading in Kenya.

·   Online Sites (YouTube)

YouTube is among the common online sites that forex traders use to learn. There are thousands if not millions of videos online containing material that you can use to educate yourself.

One of the main advantages of learning online on YouTube is that the content is free and easily accessible. You only need to have a device that can access the internet.

However, the huge amount of content makes it challenging to identify genuine and fake teachers. Not everyone who puts content online is an expert. Hence, this makes it challenging as some of the information available could be misleading.

There are also thousands of blogs such as this one that offer content on forex trading. Hence, you need to do your research to identify the online sites that work for you.

·   Mentor

Perhaps getting a mentor to help you learn forex trading in Kenya is one of the best learning methods you can use.

Mentors are senior and successful traders that have been in the industry longer than you. This makes them a top choice because they help reduce the learning curve.

A mentor should be a top forex investor with a good understanding of the market. One of the main advantages of learning from a mentor is that they have walked the process making it easier for them to guide you effectively.

A mentor can also help recommend the right kind of books and online content to consume helping avoid the challenge of misinformation in the first learning option.

·   School

There are many forex schools available in Kenya where you can enroll to learn forex trading. They operate like any other schools with regular classes where you learn the trade. Some of the best forex trading schools in Kenya include;

• Nairobi school of forex

• Citel institute of business and technology

You need to research to identify the right school. Some of the factors you need to consider when choosing the right forex training school include cost, location, and flexibility.

Flexibility is key because it allows you to take online cases in case there is a challenge in attending the physical lessons.

·   Broker training

Brokers are required by law in the country to offer training to the new forex traders. This is an opportunity that you can use to learn forex trading in Kenya.

With an average of 4 brokers having the license to operate in the country, there is a choice for customers in form of learning and trading. These include;

1. EGM Securities
2. Scope Markets
3. Pepperstone
4. Exinity

The key advantage of taking broker lessons is that they offer these lessons for free. Hence, it is a suitable method if you have resource challenges to pay for the formal lessons.

You should ensure to do prior market research to ensure you settle on a broker offering training services.

Conclusion on How to learn forex trading in Kenya

Even with all these learning approaches, experience is still the best teacher. Much of the learning will be done when undertaking to trade in the market.

This starts with trading on a demo account and then upgrading to a live market. The learning curve for forex trading is steep and could take years before you can gain some safe amount of knowledge.

The more you invest in learning, the easier it becomes to succeed in the market. Hence, focus to learn as much as you can before committing your capital.