If you want to successfully and profitably trade forex in Kenya, there is no doubt that you are going to need a forex teacher or coach.
Note that there are no formal forex classes in Nairobi.
The lessons offered by many traders are meant to give you the knowledge and skills that you will need in order to get into the forex market. There is no certification for most of the the forex courses offered in Nairobi.
These forex lessons are offered by individuals who got into forex trading some years earlier.
It is not in my position to say who these individuals are.
Nevertheless, I will show you how you can choose the best forex expert in Nairobi.
Factors to Consider When Hiring an Online Forex Coach in Nairobi
What factors should you consider when you are hiring a forex teacher in Nairobi?
If you do not do your due diligence, you might end up wasting your money on a guy who does not know anything about forex trading.
- Reputation of the coach/forex classes
A simple Google search for forex courses in Nairobi returns about 250,000 results!
Don’t believe everything that you read.
Some of these ‘forex gurus’ have scammed vulnerable Kenyans a lot of money. Before you sign up for classes with any person out there, do your due diligence.
Ask them to give a list of contacts for persons they have successfully trained.
A lot of the scammer forex classes in Nairobi will promise that you will make incredible amounts of money after you sign up for their training.
The more decent trainings will never promise anything but solid information on forex trading.
- Price of the forex lessons
Since forex trading is relatively new in Kenya, the guys who offer forex classes in Nairobi tend to charge an arm and a leg for their expertise.
One of the forex experts, who also happens to be my close friend, charges a good 20K for forex training.
Other forex traders in Nairobi charge anywhere between 10 and 15K. This price is however negotiable.
To keep the training fee even lower, consider using online manuals and forex blogs to learn the theory and the basics, and only hire a forex coach to show you the practical bits of trading.
- Mode of training- one-on-one versus online training
Usually, a lot of training in Kenya is done online but if you understand the intricacies of forex trading, you will insist on a forex coach who will physically train you to trade forex.
I do not recommend online forex trade training.
You need to be there to see exactly how the trader executes the trades.
During the one-on-one training, the forex advisor should take you through the different forex trading strategies as well as guide you on risk management.
Since most of the forex trade training in Kenya is done by individuals, finding a convenient venue to hold the lessons remains one of the biggest challenges for the trainers as well as for the trainees?
Are you willing to go to the trainer’s residence for the training?
Or would you like the trainer to come to your place?
Before you allow to hold the classes in a private residence, make sure that your trainer is of reputable morals.
Generally, when I am offering classes for the first few times, I prefer meeting my students in a public place such as a restaurant.
To learn more about my forex training course, contact me on 0710251380.
Alternative Ways of Learning Forex Trading in Nairobi
If you don’t have the cash to invest in forex trade training, you can use other methods to learn the trade.
I personally learned what I know by investing in books that teach forex trading and watching YouTube Videos.
Learning to trade forex is also an ongoing experience.
The learning never stops.
After you have learned the much that you will learn from your trainer, you need to keep yourself adept by visiting blogs that are dedicated to teaching forex trade analysis and strategies.
One of the other best ways to learn forex is by using a forex broker’s website.
Many brokers have a lot of invaluable training materials on their websites.
Live Forex Trading & Training Session Lagos Nigeria
Such is the case with the forex broker that I use, XM Global.
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Once you have identified a broker who you think will accommodate your trading preferences, spend some time on their website looking at the training materials that they have to offer.
Although these alternative ways of learning forex do not come anywhere close to attending a live forex class in Nairobi, they are a good place to start when you do not have a lot of money to invest on one-on-one training.