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Mr Daniel Njuguna Mwangi head of marketing , UBA Kenya corporate relations refutes the claims by the forex trading firm. We deals in all major currencies including Dollar ( $ ) Euro ( € ) Sterling Pound ( £ ) & Japanese Yen ( ¥ ).

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Any reduction in government spending is likely to stunt growth unless alternative sources of investment are found, said David Willacy a foreign- exchange trader at London- based INTL FCStone Ltd. We note that as at October 31 directions given by the Central Bank as more particularly set out in our letter of December 16, the bureau was found to be in breach of the Forex Bureau Guidelines , when the Central Bank of Kenya undertook an inspection of Middle Town Forex Bureau Ltd . The Central Bank of Kenya publishes daily market- based forex rates:.

Two directors of a local online forex bureau have been arrested by the Banking Fraud Investigations Department ( BFID) on suspicion that they could have swindled the public of millions of shillings in the highly risky and unregulated online currency trading bets. 8 based on 13 Reviews. Is Your Forex Broker A Scam?

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It was licensed by the Central Bank of Kenya the central bank national banking regulator. Furthermore have a minimum capital of Sh50 million ( $ 500, applicants seeking a forex license shall be a company limited by shares make an undertaking to maintain the minimum capital at all times plus 5 per cent of liabilities owed to forex customers in excess of Sh50 million.

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Kenya' s Financial Watchdog Moves to Regulate Online Forex Trading. If you do an internet search on forex broker scams, the number of results is staggering. While the forex market is slowly becoming more regulated, there are many unscrupulous.

Unfortunately, options are very limited at this stage.

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However, there are a few things you can do: Read through all documents to. PlusmyFX: Best Bitcoin CFD Forex Trading Broker india & UAE The research was an exploratory study carried out as a sample survey. The study focused on a sample size of seventy- five forex bureaus out of a population size of ninety- four in.

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Only fifty- three forex bureaus responded representing seventy one percent of the sample size study population. Qualitative primary data. Forex Bureaus close after government directive.

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