FAQs

Frequently Asked Questions
  • 1. What is Forex trading?
  • Forex trading is simply buying and selling of currencies and other asset of classes such as commodities and indices.

  • 2. What is online forex trade?
  • It is the purchase and sale of currencies online (over the internet).

  • 3. Who is a Forex/ Currency Trader?
  • A person who trades, buys and/or sells currencies on the foreign exchange. Currency traders include professionals employed to trade for a financial firm or group of clients, but they also include amateur traders who trade for their own financial gain either as a hobby or to make a living.

  • 4. How do you make Money through online forex trading?
  • Buying currencies at low price and selling them at high price. In Forex you can make money by both sides of the market (SELL OR BUY).This is unlike stocks in Kenya where you can only buy but cannot short the stock.

  • 5. Is forex trading legal in Kenya?
  • Forex is legal in Kenya and that’s why brokers operating in Kenya are regulated by Capital Market Authority.

  • 6. Do you need a license to trade forex in Kenya?
  • NO if you are trading your own funds but YES if you are trading funds that belong to other people.

  • 7. What are the trading hours in Forex?
  • Forex trading is available 24 hours 5 days a week, from Monday 00:00:30 GMT+3 to Friday 23:57:59 GMT+3.

  • 8. Can I trade FOREX during the weekend?
  • The Forex Market is normally closed during the weekend.

  • 9. How do I become a Forex Trader?
  • You can become a forex trader by learning forex on your own through researching over the internet or enroll for courses through a reputable learning institution such as Fineagle Forex & Trading Institute.

  • 10. How to enroll Fineagle Forex & Trading Institute Course?
  • You can apply to our educaton partner Excel Global College or direct to Fineagle Forex & Trading Institute. We have a prequalification exam where we gauge our potential students. The course is designed into two section: Basic and advanced Course .If you pass the prequalification course then you are enrolled to advanced course if you fail you are enrolled to basic course. The entire course takes 3 month plus lifetime mentorship.

  • 12. What is the mode of training used by Fineagle Forex & Trading Institute?
  • One on one classes conducted at Excel Global College.

  • 13. Does Fineagle Forex & Trading Institute offer online courses?
  • No at the moment but plans are there to roll the online programs in future.

  • 14. What is the duration of course?
  • The course takes a period of 3 months with two lessons per week each a duration of two hours per session.

  • 15. What is the fee structure?
  • The basic course is Kes 10,000 and advanced course is Kes 40,000 hence full course Kes 50,000.

  • 16. Is Fineagle Forex & Trading Institute registered?
  • Yes. It is registered by National Industrial Training Authority(NITA), (NITA/REG/971).

  • 17. Will I be issued with Certificate after the course?
  • Yes.

  • 18. How risky is Forex Trading?
  • Like any form of investment, forex trading involves risk. The currency markets can experience sharp fluctuations, just like the stock, bond or commodity markets. Therefore, investors interested in forex trading are encouraged to always observe RISK MANAGEMENT, which is the ONLY Holy Grail. Factors such leverage, Margin and Volatility contributes to the risks associated with Forex trading.

  • 19. How much money do I need to start Forex Trading?
  • Once you are through with our training, with the help of our trainers you will open a demo account to test your strategy. Once you are confident and have shown consistency for at least 3 months, you can open a Cent account for as low as USD 5. Use the live account to measure your psychology and state of mind.

  • 20. For me to be successful in Forex will luck be one of the features?
  • Never treat trading on Forex as if it is casino. There is nothing in common between casino and Forex. It is necessary to work hard, learn all the features and aspects of the Forex market. Our Training Course will help you to fulfill this. To become successful trader, patience and hard work are in much bigger need than good luck. Everything depends on you.

  • 21. Is forex gambling?
  • Forex is not gambling. Gambling is based on LUCK unlike forex which is based on a SKILL. In reality what you make in forex is based on your skill level.



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