Unveiling the Truth: Is Forex Trading a Scam in Kenya?

The question of whether forex trading is legit or a scam has been a common subject among many Kenyans. With the tough economic period soaring, many Kenyans, especially the youth are seeking online jobs to earn a living.

However, it should be known that every opportunity comes with its setbacks. Forex trading is not a scam. It has been in existence for more than 500 years. In Kenya, forex is legal, regulated and protected by the Kenyan Capital Markets Authority (CMA).

The problem that makes forex trading seem like a scam is the misleading forex education provided to Kenyans by scammers.

There are many people, especially influencers who flaunt lavish lifestyles and claim that they maintain that kind of life through forex trading. Since many Kenyan youths are languishing in poverty, they run to these influencers with the hope of learning forex trading so that they can also live a good life.

These forex trading scammers have made it look like trading forex is a very easy venture and one can learn and start making money in a matter of weeks. However, the truth is that forex trading is complex and requires a lot of dedication and time to learn.

The same way you cannot learn engineering and become a proficient engineer in weeks so is forex. In my knowledge, you need at least 18 months of constant learning and practice to start making money in forex.