Did you know that Forex trading is one of the most lucrative online businesses in Kenya? In fact, many people have made a fortune from it.
In this post, we’ll take a look at some of the most successful forex traders in Kenya and see what makes them so successful. We’ll also share some tips for getting started in forex trading. So if you’re ready to start making money from home, keep reading!
Here are some of the most successful Forex traders in Kenya.
- 7 Most Successful Forex Traders in Kenya
- Characteristic of the Most Successful Forex Traders in Kenya
- Frequently Asked Questions About Successful Forex Trading in Kenya
7 Most Successful Forex Traders in Kenya
- Patrick Mahinge
- Ken Githaiga
- Silah Obegi
- Paul Mugenda
- Sylvia Muchai
- Edwin Kamau
- Vincent Nyagaka
1. Patrick Mahinge
Patrick Mahinge is a professional forex trader and mentor. He is the founder and CEO of Kenya Forex Firm, a successful forex trading firm based in Nairobi, Kenya.
He started his online journey in 2012 after graduating from Masinde Muliro University with a degree in Mass Communication and Journalism.
He first started his career as a freelance writer and later ventured into internet marketing. He made money from affiliate marketing and blogging. But he was not satisfied with the income he was making.
In 2014, he stumbled on an online course on Forex Trading and decided to give it a try. He started trading with a demo account at XM Forex and later moved to a live account.
Patrick is a well-known figure in the Kenyan Forex trading community. He has been featured in several media outlets such as Business Daily Africa and CNBC Africa.
Patrick prefers to trade on the H4 timeframe and has several strategies that he uses when trading. When asked what his advice is to beginners in Forex Trading, he said
“My advice to newbies in forex trading is that they should first of all get proper education and mentorship from experienced traders not just anybody who claims to be a guru. Secondly, have realistic expectations, don’t expect to become a millionaire in a few months of trading.”
2. Ken Githaiga
What we Know About Ken Githaiga
- Ken Githaiga Net Worth: Private
- Founded: Jay Trading Academy
- Year Started Trading: 2012
- Preferred Forex Broker: HotForex
The name Ken Githaiga might not sound familiar to you, but he is one of the most successful forex traders in Kenya. Born in Kiambu in 1981, Ken has always been interested in business and finance. After finishing high school, he decided to pursue a degree in economics at the University of Nairobi. It was there that he learned about forex trading and discovered his passion for it.
In 2012, Ken started trading forex and quickly became one of the most successful traders in Kenya. He has made a fortune by capitalizing on the market’s most volatile currencies. Ken is now a well-known name in the forex trading community and is considered to be one of the richest forex traders in Kenya.
Ken Githaiga is a firm believer in education and has stated that it is one of the key factors in his success as a trader. He is always learning and studying new strategies and ways to improve his trading. This dedication to his craft has paid off, as he is now one of the most successful forex traders in Kenya.
If you are interested in learning from one of the best forex traders in Kenya, Ken Githaiga offers his services as a forex mentor and coach. He has helped many people learn about forex trading and how to make money from it. His mentorship program is designed to help you become a successful trader like him.
Githaiga is proof that anyone can be successful in forex trading if they are willing to put in the work. If you are dedicated to learning and growing as a trader, you too can achieve success.
3. Silah Obegi
Silah Obegi is a successful Kenyan forex trader with more than 10 years of experience in the financial markets. He is the director of Nairobi School of Forex, a successful forex training school that he founded in 2016.
Silah Obegi is also a well-known philanthropist and has donated thousands of dollars to charity. In addition to his charitable work, he is also a mentor to many young traders and helps them get started in the industry.
One of the most important things that Silah teaches his students is risk management. He believes that this is the most important aspect of successful forex trading and that it should be the first thing that any trader should learn.
Another important thing that Silah Obegi teaches his students is to always stay disciplined and to never risk more than 2% of their account on any single trade. This is a rule that he follows himself and has been very successful in following it.
4. Paul Mugenda
What we Know About Paul Mugenda
Net worth: Private
Started Trading: Youngest Forex Trader in Kenya
Paul Mugenda is one of the most popular Forex traders in Kenya and he has been in the business for over 7 years. He is the owner of ParisFx Kenya, which is a company that provides trading education and software to people who want to get into Forex trading.
Paul Mugenda is also a mentor to many young entrepreneurs and he has helped them become successful traders.
Paul Mugenda, one of the most successful Forex trader in Kenya has a net worth of over $1 million, which he has amassed through years of smart investing in the Forex market.
What sets Paul apart from other traders is his ability to take advantage of both long-term and short-term opportunities in the market. He has a keen eye for spotting trends, and he knows when to buy and sell in order to make a profit.
Paul Mugenda’s impressive track record has made him a legend in the Kenyan trading community, and his advice is sought after by both novice and experienced investors alike. If you’re looking to make a fortune in Forex, Paul Mugenda is the man to watch.
Apart from being one of the richest forex traders in Kenya, Paul Mugenda is also one of the most followed and loved traders in the country. He has more than 50,000 followers on his Instagram account where he posts about his luxurious lifestyle, as well as tips and tricks for young Forex traders.
5. Sylvia Muchai
The list of the most successful forex traders in Kenya wouldn’t be complete without mentioning Sylvia Muchai.
Sylvia Muchai is a self-made millionaire who started online forex trading with just a small investment of $250. She now has a personal net worth of over… well, we better leave it unsaid. But trust us. Sylvia Muchai is one of the richest forex traders in Kenya.
So, what’s her secret?
Sylvia Muchai attributes her success to three things: hard work, dedication, and focus. She says that you need to have a clear goal in mind and be willing to put in the hours to achieve it.
Sylvia says that she always keeps her emotions in check and never makes impulsive trading decisions. Instead, she carefully analyzes the market and only makes trades when she knows she has a high chance of success.
6. Edwin Kamau
Edwin Kamau is another name that pops up when you talk about successful forex traders in Kenya. He is the youngest millionaire in Kenya and is the founder and CEO of G-Force Forex Institute.
Edwin Kamau’s estimated net worth is $2.3 million as of the year 2020. At the age of 23, he has made more money than most people will make in their lifetime.
The young trader’s success story serves as an inspiration to many people who want to get into forex trading. Edwin Kamau comes from a humble background; he was born in Kahawa West, a township located in Nairobi, Kenya.
Edwin’s father was a taxi driver while his mother was a housewife. Despite their humble backgrounds, they managed to send their son to one of the best schools in Nairobi.
Edwin Kamau showed an early interest in business and entrepreneurship. When he was just 9 years old, he started selling snacks to his classmates. He later started buying and selling cell phones when he was in high school.
After completing high school, Edwin Kamau began working as a clerk at a furniture store. It was during this time that he was first introduced to forex trading.
Edwin’s friend, who was a professional forex trader, showed him the ropes and taught him how to trade. He was initially hesitant to get into forex trading because he thought it was too risky.
However, his friend convinced him to give it a try and Edwin made his first trade in 2014. The trade turned out to be successful and he made a profit of KES 70,000 (approximately $700).
This motivated Edwin Kamau to continue trading and he soon became quite good at it. In 2015, he quit his job as a clerk and began trading full-time.
In 2017, Edwin Kamau founded the G-Force Forex Institute alongside his mentor, Patrick Mahinge. The company is now one of the leading forex trading companies in Kenya with a large number of clients.
7. Vincent Nyagaka
Vincent Nyagaka is another successful forex trader in Kenya. He is the founder and CEO of Benstride. Nyagaka started trading at a young age of 28 years old, and he is now a full-time trader and investor in the stock market, forex market, and cryptocurrency market.
In 2016, he featured in Forbes Africa 30 under 30 list and remains the youngest millionaire forex trader in Kenya.
Characteristic of the Most Successful Forex Traders in Kenya
The most successful forex traders in Kenya have a few things in common. They tend to be very disciplined and patient, sticking to a well-defined trading plan.
They also take a long-term view of the market, and are not afraid to hold onto their positions for extended periods of time. And finally, they are always on the lookout for new opportunities, continually refining and adjusting their strategies as the markets change.
There is no single “secret” to success in forex trading, but by following these simple guidelines, you will put yourself in a much better position to succeed.
1. Discipline and Patience
The most successful forex traders are those who are able to stick to a well-defined trading plan, and resist the urge to abandon their strategy when things are not going their way. They know that even the best trading system will experience periods of losses, and they are willing to ride out these losing streaks.
2. A Long-Term View
Another common trait among successful forex traders is a long-term view of the market. They do not try to predict short-term movements, but instead focus on longer-term trends. This allows them to avoid getting caught up in the noise of the markets and makes it easier for them to stay calm and rational when prices are volatile.
3. Always Learning
The third secret to success in forex trading is to never stop learning. The markets are constantly changing, and the best traders are always looking for new ways to adapt their strategies. They are also quick to learn from their mistakes, and are always looking for ways to improve their performance. By continually refining your approach, you will give yourself a much better chance of success in the long run.
These are just a few of the secrets that the most successful forex traders in Kenya have used to achieve success. By following these simple guidelines, you will put yourself in a much better position to achieve similar results.
Frequently Asked Questions About Successful Forex Trading in Kenya
How much do forex traders make in Kenya?
Business Daily reported that the average forex trader in Kenya makes around $500-$750 per month. However, it’s important to note that this is just an average and some traders make significantly more or less than this amount.
Factors that can impact how much forex traders make in Kenya include their trading strategy, the amount of capital they’re working with and the size of their trades. Other considerations include the volatility of the markets and the trader’ s experience level.
A beginner forex trader in Kenya might only make a few thousand dollars per year, while a more experienced trader could make several hundred thousand dollars per year. The sky is the limit for how much money you can make as a forex trader in Kenya.
Is Forex trading profitable in Kenya?
Yes, forex trading can be quite profitable in Kenya if you have the right skills and knowledge. There are many traders who make a full-time income from trading forex, and some who even become quite wealthy.
However, it takes more than just Skills and Economics 101 to beat the markets. You need to have strong self-discipline and emotional control, as well as a sound risk management strategy. And of course, it goes without saying that you need to have a decent amount of capital to start with.
But if you have what it takes, forex trading can be very profitable indeed. Just remember that like any form of investing, there is always risk involved – so don’t risk more than you can afford to lose.
Some of the most successful forex traders in Kenya include Patrick Mahinge, Ken Githaiga, and Paul Mugenda. All of these traders have made a lot of money from trading forex, and they all have different strategies that they use to achieve success.
Mahinge is a scalper, which means he takes a large number of small trades throughout the day in order to try and make a profit on each one. Githaiga is a trend follower, which means he looks for longer-term changes in the market and tries to ride them out for as long as possible. Mugenda is a contrarian, which means he goes against the crowd and tries to profit from when the market is moving in the opposite direction to what most people expect.
All three traders have had success with their different approaches, but it’s important to remember that there is no guaranteed way to make money through forex trading. Anyone who claims otherwise is likely trying to scam you.
The best way to become a successful forex trader is to learn as much as possible, start with a small amount of capital and be prepared to lose some money along the way. With enough time and effort, anyone can become a successful forex trader.