Unlocking Kenya’s Share of the $9.6 Trillion Global Pool: Industry Leaders Address Forex Trading Myths and Misconception ahead of Africa Forex Trading Expo 2026
NAIROBI, Kenya, Jan 30 – As Kenya’s retail forex landscape hits a historic milestone of over 100,000 active participants, Forex executives and financial educators Industry leaders have called for urgent action to promote financial literacy and distinguish legitimate forex trading from gambling ahead of the Africa Forex Trading Expo 2026, scheduled for 10th – 11th March at Sarit Expo Centre, Nairobi.
Themed “Smart Money, Smart Africa; The Future of Forex & Digital Trading”, the two day event will provide hands-on training, connect traders with regulated brokers and PSPs, and foster dialogue between industry players and regulators.
The expo will feature live trading demonstrations, expert panel discussions, workshops for both beginners and experienced traders and exhibition booths from licensed brokers, Crypto Exchanges, Payment Service Providers and fintech companies.
The Forex executives and financial educators addressed critical misconceptions about forex trading that they say are preventing young Kenyans from accessing legitimate wealth-building opportunities.
“This is not gambling it is strategic, skill-based investment, Unlike games of chance, forex trading is based on analysable economic fundamentals, technical chart patterns and geopolitical events, Professional traders use sophisticated risk management strategies these are skills that can be learned and refined”,said Mr. Zack Kiratu, Director ofAzelia Expo Ltd.
Kiratu emphasized the distinction highlighting that while gambling relies on luck, successful forex trading requires education in technical analysis, understanding of macroeconomic indicators, disciplined risk management including stop-loss orders and position sizing and emotional control during market volatility.
In 2017, Kenya’s pioneering role in forex regulation with the country becoming the first African country to establish a comprehensive regulatory framework for online forex trading through the Capital Markets Authority (CMA).
This move has positioned Nairobi as a credible financial hub for digital trading in the region.
“The key differentiator is education and regulation, the CMA’s framework ensures that Kenyan traders work with licensed brokers who maintain segregated client accounts, provide clear risk warnings and operate with transparency, this is fundamentally different from unregulated betting platforms that have caused many to lose their savings.” Said Dr. Peter Onyango, CEO of Empire FX.
Dr. Onyango noted that the CMA continues to strengthen oversight, recently intensifying measures to ban unregulated brokers and educating the public on identifying licensed forex firms.
Additionally, they call for forex literacy comes against the backdrop of Kenya’s persistent youth unemployment challenge.
With over 75% of the population under 35 and the formal sector absorbing fewer than half of the 800,000 young Kenyans entering the job market annually, arguing that alternative income pathways have become increasingly critical.
They highlighted several advantages forex trading offers young Kenyans: low barriers to entry with modest starting capital, flexibility to trade from anywhere with a smartphone and internet connection, a 24-hour market compatible with other work or studies, and the potential for passive income generation.
However, they cautioned that these benefits only materialize with proper education. Industry statistics indicate that 70-80% of retail traders lose money – primarily due to lack of training, poorrisk management and emotional trading decisions.
“Africa’s digital trading landscape is evolving rapidly, We’re seeing the convergence of forex, cryptocurrency, and fintech innovation Payment Service Providers are enabling seamless transactions, while mobile trading platforms are democratizing access”, noted Ms. Brenda Bett, Head of Operations Empire FX.
“The question is no longer whether Africans will participate in global markets, but whether they’ll do so with the knowledge to succeed”, She added.
Bett pointed to Kenya’s “Silicon Savannah” reputation – built on innovations like M-Pesa – as evidence that the country is uniquely positioned to lead Africa’s digital trading revolution With smartphone penetration exceeding 50% and robust internet infrastructure, the technical barriers to participation have largely been removed.
Thomas Kyalo from Xelans Markets, stated that Africa’s growing role in the global forex ecosystem highlighting opportunities for innovation and the importance of connecting African traders with international markets through regulated platforms.
Empire FX was confirmed as Main Sponsor of the event, with Xelans Markets joining as Platinum Sponsor.
The global forex market trades USD9.6 trillion daily (2025),up 28% from USD7.5trillion in 2022. Kenya has an estimated 100,000+ active retail forex traders,making it one of Africa’s largest markets alongside South Africa and Nigeria.
