There is no licensing regime for binary options in Kenya. The product is not banned, and it is not supervised either.
Sourcing note: we could not confirm the legal position in Kenya against a named primary instrument published by the CMA. Verify with the regulator before acting on it.
Archive notice: this page was written in 2012, before binary options were banned for retail clients across the EEA, the UK and Australia. It is kept for reference. For the current position, see Legal status by country.
Binary options are the optimal investment product for mobile trading. Many brokers offer a mobile version of their web-based interface or an iPhone app/Android app which you can easily install on your mobile device. You can trade binary options at any time from wherever you are – at home, at work, in a restaurant or even on the train. Your possibilities are endless. The newest generation of Android and iPhone smartphones are the perfect tools for trading and technical analysis on the go.
Why even bother with trading on an old-fashioned PC? Mobile binary trading has many advantages but a couple of disadvantages as well. Let's take a closer look:
Advantages of mobile binary options trading
- Flexibility: You are not in need of a static PC anymore. You don't have to bother looking for an internet café on the go. You can trade binary options wherever you have mobile reception . Open a position on the taxi and close it in the restaurant. It is as simple as it gets.
- Existing trading account: Many binary option brokers offer mobile trading already. You don't have to open a new account.
- Practice on demo: “Angry Birds” is a funny game for sure but aren't you tired of playing it all the time? Open a binary demo account and improve your trading skills on the go.
- Market analysis: The LCD of a mobile device is much smaller than your regular PC monitor. However, mobile applications are very user-friendly and you can make in-depth analysis on the move.
- Mobility: Normally, your mobile is with you any time and anywhere.
Disadvantages of mobile binary options trading
- Disconnection: There might be GSM dead zones if you are on a train or in an elevator, for example. A disconnection in a critical situation can be very frustrating and might even cost you money.
- Execution time: The performance of a mobile application is sometimes not as good as the performance of the PC version.
- Additional costs: There might be additional costs for internet data transfer. To avoid unpleasant surprises, ask your mobile phone provider for more information.
Mobile Trading Tip The British company 24Option is an outstanding broker for mobile binary options trading. The software is easy to use and even inexperienced traders are ready to go in a couple of minutes.Apply Now! Open a Demo or a Live Account
Trading with your iPhone
Apples iPhone revolutionized the mobile market and put an end to old school mobiles with keys and pixelated displays. The iPhone was the very first mobile phone you could call a smartphone as it had some great features everybody wanted to use. The result was an incredible demand for iPhones. This did not change until 2021. The only thing that changed is the market with a stronger competition. The iPhone is a measure of all things.You can also trade with binary options using your iPhone. The large display with high resolution and its revolutionary touch screen makes trading very simple and intuitive. It’s very unlikely that you won’t get bored with it very soon and that’s why binary options trading with your iPhone is a pleasure.
Android
Android is distinguished from the iPhone since it’s “only” an operating system that can be used by many mobile-phone producers. The iPhone is the iPhone but Android can be a smartphone made by Samsung, HTC, Sony Ericsson and others. Android is also the market leader in mobile operating systems thanks to this franchise model. When it comes to distribution, Android has a real advantage over the iPhone. When it comes to trading binary options, Android smart phones are like the iPhone. To be exact, it’s even easier to trade binary options with an Android smart phone because this operating system is more open to external software like “Adobe Flash” and increases the chances of having a mobile trading application available.
Trading with Apps
Standard Apps are those that can be bought through the iTunes Store or the Android Market. These are called native Apps that have been developed for different operating systems. There are also so called web-Apps that work through the smart phones browser. 24Option is a good example for a well executed web-App that works in every browser without forcing you to download and install anything. This approach has many advantages. That’s why we recommend 24Option as a broker for mobile trading.
Funding and withdrawals in Kenya
Local rails here are M-Pesa, Airtel Money and card. Deposit method decides whether money can come back out: card payments carry a chargeback route with a time limit, transfers to an offshore entity generally do not. Confirm the withdrawal method, minimum, fee and stated processing time in writing before funding an account. Profits are generally taxable, with KRA the relevant authority.
Brokers accepting Kenyan clients
Ranked by our published methodology, which weights licensing at 35% — on an unsupervised counterparty every other quality is contingent. Ratings are derived from the sub-scores, not assigned.
| # | Broker | Rating | Entity holding your funds | Min. deposit | Payout | |
|---|---|---|---|---|---|---|
| 1 | Deriv | 7.9 | Deriv (BVI) Ltd / Deriv (V) Ltd | $5 | up to ~95% on synthetics | Visit |
| 2 | IQ Option | 5.1 | IQ Option Ltd (international) — unregulated | $10 | up to ~95% | Visit |
| 3 | Pocket Option | 4.7 | Gembell Limited (Comoros) | $5 | up to ~92% | Visit |
| 4 | Quotex | 4.6 | Awesomo Ltd — unregulated | $10 | up to ~98% | Visit |
| Regulated alternative — does not offer binary options | ||||||
| — | Exness | 8.8 | FSCA (South Africa) — ODP · FSP 51024 | $10 | n/a — CFDs and FX only | Visit |
Advertiser disclosure: buttons marked ad are affiliate links and earn us a commission if you open an account. The others do not. The ranking is derived from the published sub-scores either way, which is why the highest-rated provider here is not the one that pays us.
Risk warning: binary options are high-risk speculative instruments and most retail accounts lose money. Nothing on this page is investment advice or a recommendation to trade.