Best online investment Platforms for Beginners in Kenya.

It is now easy to invest online in Kenya. You no longer need to leave your house to buy stocks, invest in government bonds or even trade in digital assets, all you need is a smartphone or laptop. Online investment in Kenya provides secure, flexible and cost-effective methods of accumulating wealth, as a student, young professional or just person who wants to increase his/her savings.

This article will discuss the best online investment platforms in Kenya to start as an entry-level and their advantages and how you can invest safely today.

Safaricom Bonga Investing Bid.

Best: Those who are new and invest via M-Pesa.
The investment tools of Safaricom such as M-Akiba and Bonga Investments enable Kenyans to purchase government bonds at as low as KES 3,000. You can easily invest with your available M-Pesa balance, monitor your pay and withdraw when you want.

Why it’s great:

• Low minimum investment.
• Easy access via M-Pesa.
• Government-backed safety.

Faida Investment Bank Web Based Banking.

Ideal investment: Nairobi Securities Exchange (NSE).
Faida Investment Bank has one of the most convenient online trading sites in Kenya. NSE listed stocks such as Safaricom, Equity and KCB can be bought and sold by beginner through the internet without having to move to the office of a broker.

Features:

• Real-time stock updates.
• Beginners educational webinars.
• Under the Capital Markets Authority (CMA) license.

Standard Chartered Bank SC Shilingi.

Best For: Digital mutual funds and dollar investments.
SC Shilingi is a mobile based investment initiative provided by the Standard Chartered bank which enables an individual to invest in global funds as low as $10. You can diversify in the US stocks, bonds and international ETFs.

Why Kenyans love it:

• Global exposure in USD.
• Automated savings and investments schemes.
• Regulated and bank-backed.

Hisa App

Best for: Young investors, technology enthusiasts.
Hisa App enables the Kenyan to invest in both Kenyan and US stocks right through their phones. It is a simple platform, provides fractional ownership shares and features educational material on investing with first-time buyers.

Top Features:

• Invest in Safaricom and Tesla on the same application.
• Real-time news and insights
• Minimum investment from KES 500

Absa Online Investment Platform.

Best: Long term and low risk investors.
The Absa Bank Kenya has provided a secure online investment platform that enables clients to invest in money market funds, treasury bills and mutual funds through few clicks.

Benefits:

• Stable returns (8-12% annually).
• Bank-backed security.
• Easy withdrawals.

Cytonn Money Market Fund (CMMF).

Best to: Bottom-line savings and passive income.
The Money Market Fund offered by Cytonn enables investors to get the daily interest returns and also have easy accessibility to their money. Through M-Pesa Paybill, one can begin investing as low as KES 1,000.

Why it’s popular:

• High-interest rates (up to 15% p.a.).
• Instant withdrawals.
• Relied upon by thousands of Kenyans.

Etoro and Binance

Best use: Cryptocurrency and forex trading in Kenya.
Etoro and Binance have beginner-friendly platforms to tech-savvy investors who are either looking to invest in digital currencies or trade forex. You are able to trade Bitcoin, Ethereum and forex pairs using minimum starting capital.

Important to note: Risk is that you need to be aware of the risks and should use licensed brokers where necessary.

Online Investment tips Before investing online.

• Start Small: It does not take much money to start small. You can start with just KES 500-1,000 and build up.
• Confirm Legitimacy: by all means, CMA-controlled platforms.
• Diversify: Combine low-risk and high-returns.
• Avoid Scams: It is always better to be suspicious of unreal promise such as the one that promises to triple your money overnight.
• Monitor Your Performance: The investment tracking apps or Google sheets help to track your performance.

Conclusion

The online investment platforms in Kenya is developing at a high rate which provides numerous opportunities to the novices to increase the wealth of the individuals in a safe manner. It does not matter what type of fund you invest in (money market fund, stock trading application or international investment platform), consistency and financial discipline matters.

As little as possible, learn on the job and make your money work for one investment at a time.