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Best Stock Trading Apps in Kenya in 2023

Franklin Carneiro da Silva| Updated May 30th, 2023
Best Stock Trading Apps in Kenya in 2023 1

Best Stock Trading Apps in Kenya

Investing in the stock market has never been easier, thanks to the numerous online trading apps available today. Among all options available, you will need to make a choice, and finding the best trading app in Kenya can be difficult. 

There is an overwhelming amount of options to choose from, and if you do not do research, you can end up in a platform that could be difficult to use, expensive, unsafe, or simply limited, considering your investment profile and experience.

Fortunately, we successfully analyzed many trading apps before and conducted multiple trading app reviews, so we can clarify some of your doubts and help you make an informed decision! In this article, we listed the best stock trading apps in Kenya, comparing their specificities and highlighting their strengths.

Best stock trading apps in Kenya

Interactive Brokers | Best for intermediate and advanced investors

Online broker with a sophisticated trading platform that offers a wide range of products. The company, founded in the US, provides the app IBKR GlobalTrader, which is ideal for beginners.

Capital.com | Best for CFDs

A fintech founded in 2016 with 0% commission trading platforms that allow you to access over 6,100 markets, where you will be able to trade CFDs on stocks.

NAGA | Best for social trading 

German fintech where you can trade more than 1,000 different assets from multiple markets, including stocks, ETFs, crypto, and derivatives.

Best stock trading apps in Kenya compared

Broker Fees on stocks Minimum deposit Trading apps Stocks available for trading
Interactive Brokers Between $0.0005 and $0.0035 per US share. Between 0.01% and 0.08% for other markets. $0 IBKR GlobalTrader, Impact, and IBKR Mobile  
Capital.com $0 (2-3% overnight fee on the leverage provided) $20 Capital.com, Trading View and MetaTrader 4 X

(Only CFDs on stocks)

NAGA $2.50 commission when trading CFDs on stocks $250 MetaTrader 4 and 5, NAGA X

(Only CFDs on stocks)

#1 Interactive Brokers (IBKR GlobalTrader)

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Visit Interactive BrokersBest Stock Trading Apps in Kenya in 2023 3

Interactive Brokers at a glance

Products availableStocks, futures, options, Forex, commodities, bonds, mutual funds, ETFs, CFDs
Minimum Deposit$0 ($2,000 for margin accounts)
Deposit MethodsWire bank transfer
Commissions on stocksBetween $0.0005 and $0.0035 per US share (maximum 1% of the trade) Between 0.01% and 0.08% for other markets

Interactive Brokers has proven to be one of the most reliable brokers in the market. The company was founded over 40 years ago and survived many financial crises, making it a well-established and trustworthy broker regulated by many top-tier regulators. They operate in the Kenyan market, providing a wide range of assets and access to multiple markets.

They offer trading apps to trade stocks with sophisticated and powerful tools, a wide range of products available for trading, and low prices. The broker offers different mobile apps and web-based platforms that should be used according to your knowledge and experience. The mobile app IBKR GlobalTrader is a user-friendly app suitable for beginners because it simplifies investments without losing the powerful tools for which the broker is famous.

If you want to make the most out of the powerful tools the broker provides, you can use the IBKR Mobile, a complete and sophisticated trading app to trade stocks, ETFs, and options. As the features of this app can be overwhelming for beginners, we would recommend the IBKR GlobalTrader if you do not have a lot of experience. 

In addition to the mobile apps, you will also find a desktop app and web-based apps where you have sophisticated trading tools to access the global financial markets. Overall, we believe that Interactive Brokers offers the best stock trading apps in Kenya, and you can find what you are looking for, irrespective of your needs! 

Please check our Interactive Brokers review if you want to know more about the broker.

Interactive Brokers Mobile App

#2 Capital.com

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Visit Capital.comBest Stock Trading Apps in Kenya in 2023 3

84% of retail CFD accounts lose money.

Capital.com at a glance

Products availableCFDs on Shares, ETFs, Indices, Crypto, Forex, and Commodities
Minimum Deposit$20 (using credit/debit card)
Deposit MethodsCredit/Debit card and Wire transfer
Commissions on stocks$0 (2-3% overnight fee on the leverage provided)

Capital.com is a fintech founded in 2016 committed to democratizing the financial markets by providing commission-free trading. It has technological features with AI integration that can give the user a unique trading experience. The broker is supervised by top-tier regulators such as FCA, CySEC, ASIC, and NBRB, which provides for trust and safety.

Capital.com offers highly customized trading platforms to access news feeds, extended trading hours, sophisticated trading tools, and plenty of educational resources. Besides allowing investors to trade in the apps Trading View and MetaTrader 4, Capital.com offers its own stock trading app, where you can use AI-powered technology to enhance your results and trade CFDs on more than 3,000 stocks from different markets.

The broker even offers another mobile app called Investmate, where you can access investment guides and learn more about the financial markets to make educated and informed investments. All these features put Capital.com on our list of the best stock trading apps in Kenya, but if you want to know more about the broker, please read our Capital.com review

Capital.com Mobile App

#3 NAGA

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Visit NAGABest Stock Trading Apps in Kenya in 2023 3

87.36% of retail CFD accounts lose money.

NAGA at a glance

Products availableCFDs on stocks, ETFs, Crypto, Forex, Commodities, Futures
Minimum Deposit$250
Deposit MethodsCredit/Debit card, Wire transfer, Fasapay, M-Pesa and Airtel Money Mobile Kenya
Commissions on stocks$2.50 commission when trading CFDs on stocks

NAGA is a German fintech that makes investments easier for everyone. It is a member of the NAGA Group AG, listed on the Frankfurt Stock Exchange and regulated by the CySEC, making the broker more reliable, transparent, and safer.

The broker allows traders to invest using MetaTrader 4 and 5 and offers a social trading app for Android and iOS where you can trade CFDs on stocks, copy trade, and access personalized news feeds, among other features. 

Please note that when opening an account from Kenya, you will be onboarded by NAGA Global, an entity not regulated directly by any authority and with less protection than the European entity. In addition, you will not have access to real stocks but only to CFDs on stocks, which means that you will not own the underlying share of the company in which you want to invest. But considering its swift and helpful customer support and comprehensive social trading app with a wide range of financial products, the broker is a good addition to our list of the best stock trading apps in Kenya.

If you want to know more about the broker, please check our NAGA review.

NAGA Mobile App

Methodology

When making this list, we wanted to help investors in Kenya to make an educated choice when choosing the best stock trading app. Each of the trading apps we presented has its main features, and we tried to provide a diverse list that will suit the needs of different profiles of investors. In any case, this is what we took into consideration:

  • Prices: the price cannot be the only aspect to be considered when choosing the trading app to invest in, but it is definitely important. You do not want to pay more for a service when you can get the same quality for lower prices;
  • Educational resources: high-quality educational resources may be a great advantage, especially for beginners, who can use them to educate themselves before investing money;
  • Range of products and markets available: Does the app offer real stocks and ETFs or only CFDs? Does it have crypto? 
  • Customer service: irrespective of your choice, problems almost always appear, and it is important to find trading apps developed to help you when it does happen;
  • The trading app itself: of course, we took into consideration the functionalities and usability of the platform, as well as its specific features.

The bottom line

To summarize, here’s the list of “Best stock trading apps in Kenya”:

Best stock trading apps in Kenya

#1 Interactive Brokers Best for intermediate and advanced investors
#2 Capital.com Best for CFDs
#3 NAGA Best for social trading

It is hard to choose the right stock trading app in Kenya. Luckily, we helped many people in the same situation before, and we can help you now. To facilitate your choice, we listed a few of the best stock trading apps in Kenya, in our opinion, comparing what they can offer and highlighting their strengths. 

We know that trading stocks is a good way to achieve financial freedom, but, like everything in life, there are risks involved. We hope that our analysis was enough to help you make an educated decision that acknowledges those risks, whether you are experienced or a novice in the world of trading. 

In any case, keep on studying, do due diligence, know your investment profile, and invest wisely! Please let us know if the article was helpful and if you have any other doubts or feedback!

Other FAQs

What is the difference between a stock and stock CFD?

While the stock gives you a property right over a share of the company, the CFD does not. The stock CFD is a derivative contract where the underlying asset is the stock and where the broker promises to pay you back the difference in value between the time you opened the position and the time you close it. CFDs have a leverage effect: if you buy a stock CFD and its price goes down, you will need to borrow money from the broker to keep the position open. This makes the instrument a risky option that is not suitable for beginners.

Does eToro operate in Kenya?

No, eToro is not available in Kenya. Still, you can find equivalent alternatives like Interactive Brokers, Capital.com, or NAGA.

Franklin Carneiro da Silva
Co-Founder & Fintech Analyst

Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.

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