Terms of use

Educational material, not advice

The pages here explain how gold (XAU/USD) trading works, how a lot of 100 oz and a pip of 0.01 translate into a position, and how margin is calculated. That is education. It is not personal advice, not a recommendation to buy or sell, and not an offer or solicitation to open an account with any broker.

The desk is not a broker, a bank or a licensed adviser, and no message from it should be read as one. A decision to trade is yours, and it should rest on your own circumstances and on the broker's own terms. The regulator position is stated plainly: FxPro is licensed by the FCA (UK), CySEC and FSCA — not by the CMA of Kenya.

Questions about these terms, corrections and complaints go to Nairobi Board in writing

Questions about these terms, requests for correction and complaints about published content should be sent to Nairobi Board in writing, and the message should identify the page and the sentence at issue. Written contact creates a record that both sides can check, which matters on a site where the disputed point is often a single figure or a single phrase such as the leverage cap or the licensing caveat. We do not handle account queries, so a message about a deposit, a withdrawal, a margin call or a platform fault will be pointed back to the broker rather than resolved here.

What we can deal with is our own text: a statement that does not match the facts we were given, a section that implies advice where none is offered, or a link that misrepresents the affiliate arrangement. Where a correction is warranted, the page is edited and the corrected wording becomes the version in force. Where we disagree, we will say so and explain the basis, which is usually the facts supplied to us about the instrument, the broker's platforms or the regulatory position. We do not offer compensation for trading outcomes, and a correction to wording does not create one.

For anything concerning your money, use the broker's own channels first: the FxPro entity serving Kenya holds the account, processes M-Pesa funding and applies the margin rules, and its complaint process, together with the escalation route its licences provide, is where a dispute about a balance belongs. Bear in mind the caveat when you assess that route: FxPro is licensed by the FCA (UK), CySEC and FSCA, not by the CMA of Kenya. Keeping the two channels separate, content here and account matters there, is the quickest way to get either kind of issue answered.

Dated figures and affiliate links

Figures are dated to the day they were read and must be verified with the broker before you rely on them. Terms, funding routes and margin requirements change, and a figure that was right when read can be wrong by the time you trade. Where a number was not given to us, the page describes what the cost consists of rather than inventing a value.

Some links on this site are affiliate links, which means the desk may be paid a referral fee if you open a funded account through one. That arrangement does not change a ranking or hide a weakness. Your relationship is with the broker, not with the desk, and any dispute about an account, a deposit made through M-Pesa or a withdrawal is handled under the broker's own terms and complaints process.

Changes to these terms are published on this page, and the version shown is the one that applies

Changes to these terms are published by replacing this page, so the version live on the site at the moment you read it is the version that applies to you. We do not rely on private notice, email confirmation or a message inside a trading platform to change what this page says. When a section is rewritten, added or removed, the edited text appears here in the same structure, and the earlier wording stops applying from the moment the replacement is live. That mechanism is deliberate: a terms page that changes silently is not a terms page at all.

What triggers a change is usually a fact moving rather than a preference. If the broker's platforms change, if the funding route available from Kenya changes from M-Pesa, if the leverage cap applicable to the entity serving this country changes, or if the licensing position stated in the caveat changes, the sentence describing it has to be corrected here. Our practice is to state the position as it stands rather than to keep superseded wording alongside it, so a reader is never left choosing between two versions of the same fact on one page.

Because the page is replaced rather than amended in place, older copies circulating elsewhere, in search caches, screenshots or forwarded messages, may no longer match the live terms. The live page governs. Dated figures already flagged on this site show why that matters for numbers, and the same logic applies to wording: read the current text before you rely on a statement about margin, leverage, funding or regulation. If a change concerns the affiliate arrangement or the limits of liability, it is written into the relevant section itself rather than noted somewhere separate.

These terms are governed by the laws of Kenya, with the broker relationship governed by its own agreement

The law that applies to your use of this website is the law of Kenya. Reading these pages, relying on them or contacting us through them is treated as occurring in Kenya, and any dispute about the content, the affiliate disclosure or these terms falls to be dealt with under Kenyan law. That is separate from the law that governs your trading account: the account is a contract between you and the FxPro entity serving this country, on that entity's terms, and disputes about orders, balances, deposits or withdrawals belong under that contract, not under this site's terms.

The regulatory position is worth stating exactly, because it is often blurred. FxPro is licensed by the FCA (UK), CySEC and FSCA, not by the CMA of Kenya. The Capital Markets Authority is the Kenyan authority, and no page here should be read as saying that the broker holds a CMA licence or that this site is a CMA-regulated publication. What follows from that is practical rather than technical: the protections attached to your account come from the licences the broker actually holds and from the entity you signed with, so read which entity appears on your client agreement before you fund anything.

Nothing on this site is an offer, solicitation or advice directed at anyone in a jurisdiction where that would be unlawful, and it is written for readers in Kenya using shilling amounts for context. If you access the site from elsewhere, you do so on your own initiative and you are responsible for complying with your local rules. Where a provision of these terms conflicts with a mandatory rule of Kenyan law that protects you as a consumer, that rule prevails over the provision to the extent of the conflict, and the rest of the terms continue to stand.

Liability for decisions, deposits and platform losses sits with the account holder, not with Nairobi Board

Nairobi Board's liability is limited to the accuracy of what it publishes, and even there the limit is plain: we are responsible for writing carefully, not for the consequences of your trading. If you use a margin figure, a pip value or a lot-size example from this site and the result differs because the broker applied a different leverage cap, a different contract specification or a different price, your remedy lies in the broker's client agreement and the records on your own account. We do not reimburse trading losses, we do not cover missed opportunities, and we do not stand behind any deposit you send.

In plain words, if you lose money on gold, that loss is yours and it can exceed what you expected. Leverage is a cap on what the entity serving Kenya permits, not a target, and using the full cap on XAU/USD means a small adverse move in the price can wipe out a large share of the margin behind a position. A 0.10-lot position needing about $85.50 in margin shows how modest the buffer can be relative to the 100 oz the contract controls. No page here removes that exposure, and no statement on this site should be read as an indemnity against it.

The same limit applies to things outside anyone's control: a platform outage, a failed M-Pesa deposit, a delayed withdrawal, a pricing feed error or a regulatory change affecting the broker. We do not operate the trading system, we do not process payments and we cannot reverse a trade. Where something goes wrong at the broker, raise it through the broker's complaints route and, if unresolved, through the channels its licence provides, given that FxPro is licensed by the FCA (UK), CySEC and FSCA and not by the CMA of Kenya. We can correct an error in our own text; we cannot correct an error in your account.

Nairobi Board earns through affiliate links to FxPro, and that arrangement is disclosed in full here

Nairobi Board earns money when a reader follows a link from this site to FxPro and opens or funds an account there. The mechanism is an affiliate or referral arrangement: the broker tracks the visit, and if it leads to a qualifying account, the broker pays us a commission or referral fee. That payment comes from the broker, not from you as an extra charge on your account, and it does not change the price you see on the platform. The arrangement is the site's revenue, and it is the reason the pages exist in the form they do.

The full statement is that our commercial interest and your interest are not identical. We benefit when readers open accounts with the one broker we write about, which means we have a reason to present that broker's platforms, MT4, MT5, cTrader and the FxPro app, in enough detail for you to consider them. What we do not do is accept payment to state a number we were not given, to describe a cost as cheap, or to promise an outcome. Where a figure is unknown, such as the spread, commission, swap rate or minimum deposit that will apply to you, the page says it depends on the broker and the account rather than filling the gap with a flattering claim.

You can act on the disclosure in a simple way: assume every outbound link to FxPro may earn us money, and verify the account terms directly with the broker before you deposit. The entity serving Kenya is the FxPro entity for this country, and the relevant caveat is that FxPro is licensed by the FCA (UK), CySEC and FSCA, not by the CMA of Kenya. Funding from Kenya typically runs through M-Pesa, so confirm the deposit route, the applicable leverage cap and the full fee schedule on the broker's own pages, where you are a client and we are not.

Nairobi Board publishes gold (XAU/USD) reference material; it does not manage money or place trades

Nairobi Board is an information publisher about gold trading, not a broker, fund manager or investment adviser. Everything on this site explains how XAU/USD works, how contract sizes and margin are calculated, and how a Kenyan trader would interact with a platform such as FxPro's MT4, MT5, cTrader or app. We do not hold client funds, we do not execute orders, and we cannot open, close or modify a position on your behalf. Any account you open is with the broker, under the broker's own client agreement, and any money you deposit moves between you and that broker.

What this site is not is equally concrete: it is not a signal service, a copy-trading scheme, a portfolio manager or a place to send money. We do not tell you when to buy or sell gold, what lot size to use, or whether a position suits your circumstances. Our worked examples exist to show arithmetic, such as how a 0.10-lot gold position needs about $85.50 in margin at the applicable leverage cap, and an example is not a recommendation to trade at that size. Readers in Kenya should treat every page here as study material they apply, or decline to apply, themselves.

The distinction matters because gold moves fast and leverage magnifies both directions. A reference price near 4275.0 on XAU/USD, with one pip equal to 0.01 and one standard lot equal to 100 oz, tells you the size of the instrument, not the direction of the market. Nothing published here is a personal recommendation, and no page is tailored to your income, your other holdings, your shilling obligations or your tolerance for drawdown. If you want advice that accounts for those things, you need a party who knows your full position, and this site is deliberately not that party.

Risk of loss

Trading CFDs on gold carries a high risk of loss, and most retail accounts lose money. Leverage magnifies both directions: the cap that applies to the entity serving Kenya is a cap, not a target, and a position sized at the full cap can lose more quickly than one sized well below it. Only risk money you can afford to lose.

No figure on this site is a promise of any outcome. A reference price near 4275.0, a margin figure of about $85.50 on 0.10 lots, or any cost described on a page is an illustration of how the arithmetic works under stated terms. It says nothing about whether a trade will be profitable.