Are Kenyan forex traders the new group of reclusive millionaires ~ forex trading free demo account
I should probably start by saying that I am yet to make my first million in the trading of forex online. I would probably stop updating this blog. But even if I made my first million, would I gladly feature on a show like How I Made My First Million or Who Owns Kenya? I highly doubt. More and more Kenyans are making a sustainable livelihood through the trading of forex online, others are even rumored to be making millions. In a past rare TV interview, one of those successful traders stated that his greatest loss on the forex markets had been 30,000 dollars on a single day. But he also added that in his life as a forex trader there are moments he has made money that to him seemed abnormal. He gladly called himself a millionaire on prime time TV. A few weeks later, his organization, VIPortal, together with its staff were guests of the State- at a local jail cell.The backlash that comes with quick success means that in a society like Kenya you have to be careful to whom you flaunt your wealth to. Society has conditioned our attitudes into believing that quick wealth can only come by engaging in dirty deals. True, majority of the wealth holders in Kenya attain their fortune through questionable ways. But there still exists that group, however slim it is, that believes in honest living and has as such created wealth through honest means.
Online forex traders fall into that category of honest wealth creators in Kenya. But because forex is still a new phenomenon to many Kenyans, most people that find success through it are considered to have done something illegal. The explanations range from the belief that forex traders are just part of a group scamming fellow Kenyans both online and offline.
That explains why fewer of the many Kenyans who are trading forex online are ever ready to come out to the public domain. It explains why since the advent of online forex trading among Kenyans in early 2003 only a handful have been interviewed by the mainstream media houses. The last local daily that run an interview with three successful Kenyan online forex traders did not give their names. Proceeding under the phrase you normally encounter when reading an interview secretly conducted with an activists in a repressive State with no freedom of expression. Phrases like …John not his real name, or …an official who did not want to be named for fear of victimization et al. it left me wondering whether or not online forex traders in Kenya should form some underground anti defamation league.
Why are there no business cards moving rounds with words like an expert in the trading of forex or an online forex tutor? Majority of Kenyans are yet to accept that money can actually be made online. It even gets complicated when you tell an average Kenyan that forex online is a profitable business. A friend of mine who found me analyzing candlestick charts thought I was playing one of the many online games. Another village girl wondered whether that was part of an engineering cause.
When a society chooses to have a say on what does or does not constitute clean wealth, those that guide such formulation need to be informed individuals well ahead of time in this information age. This is because the internet age has brought new ways to make money online such as were never imagined before. But when our opinion leaders are the less informed politicians or the old pacesetters accustomed to the traditional modes of wealth creation (go to school and get a job) who have deliberately chosen not to move with the changing times, online investors are in for a hard time to come.
As online forex brokers spread their wings far from their traditional bases in Europe and America, one would only hope that by the time they begin setting up offices in Kenya, parliament will have enacted laws for the trading of forex online. As matters currently stand, forex trading online is still an unregulated business. A number of forex brokers have already set shop here and are either rejoicing or anguishing due to lack of regulations on trading forex online. If parliament can see way ahead and enact the relevant legislations, may be more Kenyans will be attracted into the trading of forex online. And who knows? Probably the now reclusive club of Kenyan millionaires will find a reason to come out and share their knowledge with fellow Kenyans.
You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars.
As online forex brokers spread their wings far from their traditional bases in Europe and America, one would only hope that by the time they begin setting up offices in Kenya, parliament will have enacted laws for the trading of forex online. As matters currently stand, forex trading online is still an unregulated business. A number of forex brokers have already set shop here and are either rejoicing or anguishing due to lack of regulations on trading forex online. If parliament can see way ahead and enact the relevant legislations, may be more Kenyans will be attracted into the trading of forex online. And who knows? Probably the now reclusive club of Kenyan millionaires will find a reason to come out and share their knowledge with fellow Kenyans.
You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars.
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Call us today on 0725 050 419 for the best forex trading orientation.
Find more insight into the Kenyan sphere of online forex from the articles below:-
Why are many Kenyans failing in the online forex business
Is online forex trading illegal in Kenya
How VIPortal got it wrong
Have courage to open a live forex trading account
Call us today on 0725 050 419 for the best forex trading orientation.
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