Young people in Kenya have a much higher unemployment rate than the rest of Kenya’s population, young people aged 15-19 and 20-24 had an unemployment rate of 25 per cent and 24 per cent, respectively, almost twice as high as the overall unemployment rate of 12.7 per cent for the entire workforce. This is exacerbated by the growing problem of terrorism by the Al-Shabaab militia group. The recent wave of terrorism has made foreign investors skeptical of Kenya. Tourism, which is a major part of Kenya’s economy, has also been hit hard by this. These and many other factors are leading to rising unemployment.
Kenyans are very accustomed to the traditional setting of education followed by work. It is time for Kenyans to start thinking outside the box and create a job for themselves. With the installation of fiber optic cable in most of urban Kenya, many online businesses are coming to the fore. One such venture is Forex. It is gaining popularity at such a rapid pace that it threatens to overshadow all other online businesses.
When it comes to Forex trading in Kenya, many young people from Nairobi have started learning and trading. While people from other areas are also starting to learn about it, their numbers are still small.
Forex is one of the best ways to start making money. This is easy to learn. There are many free learning resources available online. It does not require a large start-up capital. You can make money as a trader. Operating time is quite flexible. No such things as physical hard work! Still suitable for non-financial professionals. Open an account easily, does not take time! You can add and withdraw funds instantly using credit / debit cards. The Forex market is open 24/5. The list goes on and on.
Learning to trade Forex is not difficult. Anyone who enjoys hard work and reading will be good at it in a month – at least in terms of how to trade a particular strategy. I would advise anyone who wants to trade to open a demo account and use it for training.
Learning to trade can take a significant amount of time. If you really want to start trading with real money, the easiest way to get around learning time is forex signals. Trading signals are alerts that tell you when to buy or sell a currency pair and at what price. If you follow a professional trader, you can copy the trades they make. There are many signaling services, some free and some paid. Of course, paid ones are much better than free ones.
There are several local Kenyan Forex brokers operating in Kenya as well as several brokers representing. By representing brokers, we will help you open accounts with other brokers and offer additional services. In return, the brokers they represent receive money from the broker they work for.
Like any other business, Forex Trading requires due diligence. One has to be careful and invest only the money they are willing to lose. Despite all the benefits of trading, it is still a risky business. Trading without proper knowledge can lead to significant losses.