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Youth in Kenya are experiencing unemployment rates much higher than the rest of the Kenyan population, youth aged 15-19 and 20-24 had unemployment rates of 25% and 24% respectively, almost double the overall unemployment of 12.7% for the entire workforce. This is compounded by the growing problem of terrorism from the Al-Shabaab Militia group. The recent wave of terrorism has foreign investors skeptical of Kenya. Tourism, which is a major part of the Kenyan economy, has also been greatly affected by this. These and many other factors are leading to the growing problem of unemployment.
Kenyans are very used to the traditional setup of getting an education followed by a job. It is time for Kenyans to start thinking outside the box and create employment for themselves. With the laying of the fiber optic cable in most of the urban areas of Kenya, many online companies are coming into the picture. One such company is Forex Trading. It is gaining popularity at such a rapid rate that it threatens to dwarf every other online company.
When it comes to Forex Trading in Kenya, many youngsters from Nairobi have started learning and trading. While people from other areas are beginning to learn about it as well, their numbers are still low.
Forex is one of the best ways you can start making money. Is easy to learn. There are many free learning resources available online. It does not require a large start-up capital. You can work part-time as a trader. Work hours are quite flexible. No such thing as physical hard work! It is still suitable for non-financial professionals. Opening an account is easy, it doesn’t take any time! Adding and withdrawing funds can be done instantly via credit/debit cards. The Forex market is open 24/5. The list goes on and on.
Learning Forex Trading is not difficult. Anyone with a passion for hard work and reading will be good in a month, at least when it comes to knowing how to trade a particular strategy. I would advise anyone who wants to trade to open a demo/practice account and use it to learn.
Learning to trade can take a significant amount of time. If you really want to start trading real money, an easier way to avoid learning time is forex trading 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 are making. There are many signal services, some free and others paid. Of course, the paid ones are much better than the free ones.
There are some local Kenyan Forex brokers working in Kenya and some introducing brokers as well. Introduce brokers, help you open accounts with other brokers, and offer value-added services. In return, introducing brokers are paid by the broker they are working for.
Like any other business, Forex Trading requires due diligence. One must be careful and only invest money that you are willing to lose. Even with all the advantages of trading, it is still a risky business. Trading without proper knowledge can result in significant losses.