Richest Forex traders in Kenya
In this article, we shall explore the richest forex traders in Kenya. Let’s take a look at some of the most successful forex traders who have made significant profits and are the most influential and prosperous traders.
Brief background of forex.
Forex trading is the process of buying one currency and selling another to make a profit from the trade. Forex (FX) is a grip of the words foreign and exchange. There are different ways of trading forex which include:
Spot market
This is the primary forex market where those currency pairs are swapped and exchange rates are determined in real-time, based on supply and demand.
Forward market
Forex traders can also enter into a private contract with another trader and lock in an exchange rate for an agreed-upon amount of currency on a future date instead of executing a trade now.
Futures market
Similarly, traders can opt for a standardized contract to buy or sell a predetermined amount of currency at a specific exchange rate at a date in the future. This is done on an exchange rather than privately, like the forward market. The following are the richest forex traders in Kenya.
1. Patrick Mahinge
Patrick Mahinge is one of the richest forex traders in Kenya. He is known for his entrepreneurial spirit and has websites marketing Amazon affiliates. Patrick founded Kenya Forex Firm, which provides forex traders in Kenya with training and portfolio management services. Despite a turbulent start in forex trading, Patrick has become a successful trader and now mentors others through his firm.
He normally trades the major currency pairs like EUR/USD and GBP/USD at XM Forex. Mahinge has an estimated net worth of about $750,000. He founded a forex trade training school to help fellow Kenyans looking for secure and lucrative investment opportunities.
Patrick Mahinge’s preferred Forex Broker is XM Forex.
2. Sylvia Muchai
Sylvia Muchai began trading currencies in 2014. Her determination and charm have made her a notable figure in the forex trading world. Sylvia is an ideal destination for history buffs and culture enthusiasts.
Sylvia Muchai’s forex trading journey began as soon as she graduated from Kenyatta University with a bachelor’s degree in Finance. It was a journey, however, that was paved with peril. To start with, she blew her first $250 trading account barely 5 days after opening it. But that did not dampen her hopes of becoming a millionaire forex trader.
Sylvia Muchai’s preferred broker is Pepperstone Markets.
3. Paul Mugenda
Paul Mugenda is among the richest forex traders in Kenya. His story mirrors that of other successful traders who started with little but achieved remarkable results. Paul’s dedication and hard work have propelled him to success. Paul prefers binary options. He has made a name for himself in the industry and is considered by many as the best binary options trader in Kenya. His company Paris Fx where he trains on how to trade binary options but also offers trade signals to interested parties at a one-time fee of $350.
Paul Mugenda’s preferred broker is Deriv which was widely known as Binary.Com.
4. Edwin Kamau
Edwin Kamau is among the richest forex traders in Kenya. His journey began in 2014, and he has since made a name for himself in the trading community. His determination and commitment have contributed to his success. He is still working as a banker in his daily job.
Edwin Kamau has yet to disclose his net worth and is the most preferred broker for his forex trading.
5. Ken Githaiga
Ken Githaiga is among the richest forex traders who have shown promise in the industry. His passion for trading and continuous learning contribute to his growth as a successful trader. Fores is his full-time job, taking up a very small portion of his day-to-day life.
Githaiga gained most of his trading knowledge through self-education on the Internet. Ken Githaiga’s preferred broker is Hot Forex.
6. Silah Obegi
Silah Obegi is one of the richest forex traders in Kenya. He began his career as a foreign exchange trader in 2012 and has since built a reputation as a skilled and accomplished trader. Silah Obegi is the founder of the Nairobi School of Forex, which is one of the most well-known forex trading schools in Kenya. He still owns five companies. which includes:
- Online Foreign Exchange Trading
- Banking
- Real Estate
- Blockchain
- Nairobi School of Forex
Silah Obegi’s preferred Forex brokers are FxPesa and EGM Securities.
7. Esther Mofrey
Esther Mofrey is a Kenyan Forex Trader who is passionate about creating content related to Forex Trading. Her channel on YouTube provides informative and educational content for those interested in the world of forex.
On her YouTube channel, she has more than 76.4k subscribers and she shares content about forex to anyone interested in joining. In a single day on her TikTok account, she managed to make KES 240,000.
8. Joshua Matumo
Joshua Matumo is the founder of Fourth Street Consultants. He serves as the managing director of the company. Joshua is among the emerging in the world of forex trading in Kenya. Joshua is widely known for his capabilities in both risk management and professional market analysis. He is a member of the Bloomberg Community, the world’s biggest financial network and technology firm. He is among the richest forex traders in Kenya and has training facilities for those who are interested.
Conclusion
Kenya’s richest forex traders exemplify the potential for success in the currency markets through skill, determination, and innovation. As Kenya’s economy continues to thrive, the currency markets offer boundless opportunities for those willing to seize them.
FAQS:
1. Who is the most successful forex trader in Kenya?
Patrick Mahinge is the most Successful Forex Trader in Kenya. He started trading with $100 and now makes over $10,000 per month.
2. Who are the top forex traders in Kenya?
Patrick Mahinge
Sylvia Muchai
Paul Mugenda
Edwin Kamau
Ken Githaiga
Silah Obegi
Esther Morey
Joshua Matumo
3. Which bank is the best for forex trading in Kenya?
Bank of Africa offers forex trading services.
4. How did the wealthiest forex traders in Kenya build their fortunes?
The richest forex traders in Kenya built their fortunes through years of dedication, learning, and experience in the forex market. They honed their trading skills, adapted to market conditions, and remained disciplined in their approach. Additionally, some traders diversified their income streams by venturing into training, mentorship, or establishing their forex brokerage firms.
