Technology and democratisation of financial markets in Kenya
Sponsored by Exness
Kenya is at the forefront of a financial revolution driven by technology, transforming how people access and interact with financial markets.
Fintech innovations have opened doors for Kenyans from all walks of life, enabling them to participate in financial activities that were once reserved for only a few. This democratisation of financial markets is fostering economic growth, enhancing financial inclusion, and empowering more Kenyans to take control of their financial futures.
Mobile Money: The Foundation of Financial Inclusion
Kenya’s fintech revolution took off with the introduction of mobile payment methods in the early 2000s. These platforms enabled users to store and transfer money using their mobile phones, making financial services accessible to millions who previously had no access to banking. Today, mobile payment systems are integral to Kenya’s financial ecosystem, facilitating everyday transactions and providing a gateway to variety of financial services.
Online Trading Platforms: Opening Up Investment Opportunities
One of the most exciting developments in Kenya’s fintech landscape is the rise of online trading platforms. These platforms have made it possible for regular Kenyan citizens to trade and invest in stocks, commodities, and forex with ease. Exness, one of the world's largest brokers, has seen this surge in demand in Kenya as an opportunity to strengthen its position in the market.
Exness offers a frictionless trading experience, prioritising features that matter most to Kenyan traders. Instant withdrawals, for example, ensure swift access to funds, while better-than-market conditions with tight spreads and no swaps on popular assets maximise their trading power.
Exness Regional Commercial Director in Commercial Management Paul Margarites, says: “The rise of online trading platforms in Kenya presents a tremendous opportunity for financial inclusion. With online trading, Kenyans now have the tools to participate in the global financial markets and potentially supplement their income.”
Accessibility and Convenience
Technology has made it incredibly convenient for Kenyans to access financial markets. Nowadays, with the advent of mobile apps on online trading platforms like Exness, traders do not need to have their own personal computer to trade. Mobile apps allow traders to manage their accounts and execute trades from anywhere at any time. This level of accessibility ensures that more people can participate in the financial markets, breaking down geographical and socio-economic barriers.
Margarites continues: “Mobile accessibility is a game-changer. It democratises access to the markets, allowing Kenyans from all walks of life to find ways to potentially improve their financial well-being.”
Advanced Trading Tools
Building on the accessibility of mobile trading, the availability of advanced trading tools is another significant impact of fintech in democratising financial markets. A range of tools, such as real-time market analysis, customisable charts, and technical indicators, enable traders to gain deeper insights and improve their trading strategies. These tools level the playing field, allowing traders to make more informed decisions in the markets.
Security and Trust
Security is a top priority in online trading, and fintech innovations have significantly enhanced the safety of trading platforms. Leading platforms employ advanced security measures to safeguard clients’ data and funds. With robust measures, brokers empower traders to participate in the financial markets with greater peace of mind.
Regarding the security of Exness’ clients, Margarites states: “Our clients’ security and protection are a top priority for us. We employ advanced security protocols and algorithmic frameworks to protect traders’ personal information and funds. This enables them to rest assured that they are safe trading with us.”
The focus on security fosters trust, encouraging more people to participate in the financial markets. In an era when data breaches are a real issue, robust security is essential to ensure trust in the Kenyan trading sector.
The Role of Regulation
Kenya's regulatory environment has rapidly evolved to foster a world-class fintech ecosystem. While online platforms have democratised access to financial markets, trading inherently carries risks, such as market volatility, fraud, and the potential for significant financial losses if not approached with caution and knowledge. Recognising this, the Capital Markets Authority (CMA) in Kenya has taken a proactive approach, balancing innovation with robust investor protection. Regulations like the regulatory sandbox allow fintech companies to test their products in a controlled environment, promoting innovation while safeguarding the interests of traders.
Kenya's embrace of fintech regulation is attracting big names. Exness, a leading international multi-asset broker, recently secured a license from the CMA. This translates to a more secure and transparent trading experience, fostering trust and further growth in the Kenyan fintech space. With a CMA license, Kenyans can rest assured that their broker's operations are compliant with the CMA's strict regulations.
Democratising Trading Technology
The democratisation of financial markets in Kenya, driven by technology, is a remarkable success story. From the widespread use of mobile money to the rise of online trading platforms like Exness, fintech is making financial services more accessible and inclusive. In the end, as technology continues to advance, it is key that Kenyan traders carefully evaluate the options available in the market to find the best fit for a comfortable and safe trading experience.
“We are nothing short of amazed by Kenya’s technological revolution and the positive impact it’s having on financial inclusion. We are privileged to contribute to this transformation, empowering more Kenyans to participate in the financial markets and take control of their financial future,” says Margarites.
