Forex Trading, The Solution to Kenya’s Unemployment Problem

In Kenya, the youth are experiencing high levels of unemployment, with those aged 15-19 and 20-24 having unemployment rates of 25% and 24% respectively; almost twice the overall unemployment rate of 12.7% for the entire workforce. This problem is exacerbated by the growing threat of terrorism from the Al-Shabaab Militia group, causing foreign investors to be skeptical about investing in Kenya. This has severely impacted the country’s economy, including its tourism sector. As a result, unemployment is quickly becoming a severe problem.

Traditionally, Kenyans have followed a set path of getting an education and then finding a job. However, it is time for Kenyans to start thinking outside of the box and consider creating employment opportunities for themselves. With the widespread installation of the Fiber Optic Cable in most urban areas of Kenya, many online ventures are emerging, including Forex Trading. This venture is gaining popularity so quickly that it is threatening to overshadow other online businesses.

Forex Trading is one of the best methods to obtain an income. It is easy to learn, with plenty of free learning resources available online. It does not require a significant starting capital, and trading can be done part-time with flexible working hours. Forex Trading does not involve physical hard labor, making it suitable for those without finance expertise. Opening an account is easy, and adding or withdrawing funds can be done instantly via credit/debit cards. Forex market is open 24/5, making it extremely flexible.

Learning Forex Trading is not hard. Anyone with a passion for hard work and reading can be good at it in a month, at least in regards to trading a specific strategy. We recommend individuals to open a Demo/Practice account and use it to learn. Learning to trade requires a significant amount of time. An alternative method to reduce the learning curve is Forex Trading Signals. Trading signals are alerts that tell you when to buy or sell a currency pair and at what price. Following a professional trader’s trades is possible by copying their trades. There are many signal services available, some free and some paid, with the paid ones being more reliable.

A few local Kenyan Forex brokers are working in the country, along with a few introducing brokers. Introducing brokers assist in opening accounts with other brokers, which offer added-value services in return. However, like any other business, Forex Trading requires due diligence. One needs to be careful and only invest money that they are willing to lose. Trading without adequate knowledge can cause significant losses.

Forex Trading is a viable solution to Kenya’s unemployment problem. It is an accessible, flexible, and profitable venture that can create employment and help many Kenyans support themselves independently.

Written by Zohaib Mohammed

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