Best Stock Trading Apps and Platforms in Kenya

Anyone with access to the internet and a bank account can invest in the stock market in Kenya. Based on our findings, below is a list of the best stock trading web apps in Kenya that make it easy for investors to trade equities on the Nairobi Securities Exchange, track their investments using advanced portfolio management tools, and potentially earn attractive returns through dividend payments or speculation.

SBG Securities

SBG Securities is a subsidiary of Standard Bank Group that offers a wide range of stock trading services. It facilitates account opening, settlement of shares, immobilization of shares, pledging/releasing of shares, private transfers, and transmission of shares for succession. It also provides equity trading advisory services, guiding clients on optimal trade execution strategies for large and illiquid transactions. Its fixed income services include advisory on primary Treasury bond issues and facilitation of secondary market trading of existing Treasury and corporate bonds. SBG Securities also offers foreign exchange and debtor finance solutions.

Kingdom Securities

Kingdom Securities Limited (KSL) is a subsidiary company of the Co-operative Bank of Kenya Limited. KSL offers online share trading services to investors through its web-based trading platform and mobile app. The online platforms provide direct access for investors to manage and trade shares.

Genghis Capital

Genghis Capital is a leading investment solutions provider in Kenya, licensed by the Capital Markets Authority (CMA) and the Retirement Benefits Authority (RBA). It facilitates securities trading through client CDS accounts, provides retirement benefits products including individual pension plans and an income drawdown fund, and manages a unit trust.

Dyer and Blair

Dyer and Blair Investment Bank is a pioneering investment institution established in 1954 that has played a pivotal role in the development of capital markets in East Africa. With a renowned reputation backed by accolades from esteemed organizations like Euromoney and the Kenyan Capital Markets Awards, Dyer and Blair offers comprehensive financial services. These include executing transactions across equity and fixed-income markets through its brokerage arm, facilitating 24/7 real-time online trading access, and being a founding member of prominent stock exchanges in Kenya, Uganda, and Rwanda.

Faida Investment Bank

Faida is an investment bank that offers brokerage services, corporate finance advisory, Markets and institutional research.

Abacus

Abacus is an online investment platform that bridges the gap between global investors and African financial markets. The company empowers both local and international investors by providing them with the ability to research and invest in various African investment products anytime and from anywhere. Abacus offers a diverse range of investment options, including stocks, unit trusts, bonds, and bills. Abacus is also licensed as a data vendor by the Nairobi Securities Exchange (NSE) and an agent for Sanlam & Old Mutual Limited.

Cashlet

Cashlet is a modern financial platform that makes it easy for users to save and invest their money starting with just Ksh 100. It offers attractive interest rates ranging from 11% to 16% per annum on its money market funds, allowing users to grow their savings efficiently. Cashlet is accessible through a mobile app.

Hisa

Hisa is an investment platform that allows Africans to easily invest in a range of local and global assets like stocks, ETFs, bonds, and alternative investments. It provides simplified investment products and educational resources.

Ndovu

Ndovu is a digital platform makes it easier and affordable for Kenyans to participate in both local and global financial markets. Ndovu curates a selection of investment funds in various sectors worldwide as well as domestic ones, empowering users to build diversified portfolios aligned with their financial objectives while managing risk exposure appropriately.

FXPesa

FXPesa is a global online brokerage firm that allows customers to trade a wide range of financial products including forex pairs, stocks, indices, and more. Therefore, is it ideal if you are looking to buy shares in global companies. It is important to note that unlike other listed companies, FXPesa requires a learning curve.

What to Consider When Selecting a Stock Broker or Trading App

Fees and Commissions: Find out the fees and commissions the trading app charges. You can inquire from people who have used the app to discover whether there are any hidden costs associated with trading on the platform and how that will affect your earnings.
Financial Stability: You need to choose a stockbroker or company that is financially stable to guarantee that they will be in operation for the long term. Avoid investing in companies that are in financial distress or whose revenue keeps declining each year, as that is a clear sign that they are likely to collapse.
Reputation: Use social media platforms like Twitter, Reddit, Facebook, and YouTube to find out what people are saying about the platform. It is recommended to choose a platform with a good reputation.
Leadership: Avoid investing in companies with leadership wrangles or leaders without a vision. Where there is no vision, there is no innovation, which means the company will eventually be eaten alive by competitors.
Long Term vs. Short Term: Consider whether the stock trader allows buying and selling stocks in the short term by capitalizing on opportunities, or whether it only supports long-term investment. As a short-term trader, you need to have an understanding of the businesses you want to invest in and keep a close eye on what is happening in the companies you have in invested in, such as acquisitions, mergers, seasonal trends, tax laws, exchange rates, and management changes.
Technology: The trading platform should be easy to access, navigate, search, and show real-time data. The platform should also provide news and alerts on what is happening in the business environment in Kenya, such as new tax laws.
Customer Support: You do not want to put your money in a company with non-existent contact or physical offices. Contact the company to establish its location and how it handles customers. A stock platform with no physical location is a red flag.