opening an account with a fx broker like fxcm ,instaforex ( http://www.instaforex.com ) etc and trading spot forex..like euro,swissie, yen etc ..

But trading commodities like Gold oil, silver ISNT illegal . thats my understanding

call CBK ( www.centralbank.go.ke )and they'll tell you that !!!!!!...Fine is 500k bytheway

What do you mean private forex trading is illegal in Kenya??? I have asked around and like i said before in cap 149-33 of the CBK Act states that taking money from the public and investing in forex is illegal, you need a license from the central bank.There is no mention of trading privately or trading peoples account.Again,there are so many institutions that trade and teach forex and are all in the public domain such as Genius fx.

I gave an article reference in my first posts but you are not giving any references.You are merely stating what you think.Give us hard facts because we want to know.

Or maybe you will also not accept this article

http://www.theeastafrica.../-/py9bewz/-/index.html

I think that was a poorly written article. What is illegal is trading people's funds, of which you need Central Bank's approval. Secondly, speculating the KES is also not allowed, though there's a fine line on this one. If my memory serves me right, some exchange house was closed in the 90's by CBK for speculative txns, which also included KES. What one does with personal money in FX is similar to stocks, and as long as you are not manipulating the local currency, IMO its not illegal.

Gold is said to be tanking because hedge funds are taking profits from Gold to offset some of the pressure from other poorly performing investments especially the equities.This goes to show the amount of money invested in hedge funds and the effect they can have on the market.