Global investment firm Windsor Brokers has launched free daily internet data to trade on the brokers’ MT4 mobile platform.
The initiative targets online local traders and it seeks to maximize access to global financial markets while reducing the cost of trading.
The MT4 mobile platform, also known as MetaTrader 4, is a mobile electronic trading platform that has everything one needs for forex trading. The MetaTrader 4 can analyze quotes of financial instruments using interactive charts and technical indicators.
Martin Ngugi, chief executive of Windsor Brokers Kenya term the move as a bold step toward enhancing financial inclusion and democratizing access to global trading platforms for Kenyan traders, particularly the youth.
“The initiative targets thousands of traders who rely on mobile devices for their trading activities, offering them the opportunity to participate in the global financial markets without worrying about data costs. We know that youth make up over 80% of Kenya’s population with over 60% of this population falling within the 18-35 years age bracket. We also understand that a majority of this population is tech-savvy and eager to explore new opportunities. This initiative is designed to give them the tools to learn, grow, and succeed in Forex trading.”
Ngugi further revealed that the company will spend Ksh 23 million annually to foot the cost of internet for their client’s trading on their platform.
This free data initiative will ensure that traders across the country, whether in urban or rural areas, can access the markets anytime, anywhere without interruption.
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Kenya is one of Africa’s leading nations in terms of mobile penetration, with over 66 million mobile connections as of 2024, according to the latest GSMA Intelligence report of may this year.
In addition to providing free internet access, Windsor Brokers has also committed to free online and physical training for new online forex traders about the financial markets.
Mathew Kabeere, Head of Research & Training stated that , “Our training are tailor-made to fit anyone at any given time, this is aimed at empowering beginners with financial education and skill development to make them better understand forex trading markets.”
He further added that as new online forex traders acquire valuable knowledge and skills, they become better equipped to make informed trading decisions, minimizing risks and maximizing returns.
In Kenya, the growth of online Forex trading has not only empowered individual traders but has also contributed to job creation and entrepreneurship.
With local players emerging to provide support services such as training, signal analysis, and market research.
Additionally, the increased demand for skilled online forex traders has led to the creation of employment opportunities within the financial sector. This economic ecosystem around Forex trading has a ripple effect, positively impacting the overall employment landscape in Kenya.
