FXPesa is a trade name of EGM Securities Limited, which is licensed by the Capital Markets Authority in Kenya. Traders can operate via one of the most popular trading terminals worldwide – MetaTrader 4 (MT4). In addition, they can trade through the company’s own terminal – FXPesa Trader, which is available as a web-based version and as a mobile application as well.
The platform looks tidy and simplified. The screen consists of three parts – for instruments, for charts, and for transactions.
The instruments available for trading are in the left part. They are arranged into groups and each of them can be extended to show all the instruments available in it. Next to the name there are bid and ask prices and the daily change percentage. There is also a star sign and you can add the instrument to your favorites by clicking on it. There is a search bar above helping you to quickly find any particular asset. Clicking the instrument opens its chart and appears in the transaction part.
You can place an order on the selected instrument by clicking on the Sell or Buy button on the right. The default amount is 0.1 lots, and you can select the different amount from the drop-down menu. You must first select the appropriate button (SELL or BUY) to be able to continue placing the order. Market orders are placed by clicking the TRADE button. If you select the “Open trade when rate is” checkbox, you will place a pending order (limit or stop). Unfortunately, opening a demo account was not available at that time and we were unable to place any orders.
Charts are located at the central part of the screen. They can be maximized and occupy the entire screen by clicking the Full Screen button. Chart types include candlesticks, HeikinAshi, bars, lines, area, and dots. The period of one candle or bar can be chosen from one minute to one month. Zooming can be done by the dedicated buttons or by the mouse scroll wheel. Many graphic objects are available, including different types of lines, geometric shapes, text, Fibonacci objects (retracement, lines, fan, arc, extension, etc.) Nearly 50 technical indicators are available from the Indicators Wizard menu. You can click the star symbol to select the most used ones in the Favorites menu, where they can be easily found.
In general, the platform is simply organized and provides all the essential tools for beginners and average traders. The more experienced would probably prefer the MetaTrader 4 (MT4) terminal, which the company also offers.
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