Nick Kwach casts doubt on forex traders claiming to make millions daily
By Steve Ireri, September 12, 2025Media personality Nick Kwach has expressed serious scepticism about claims by young self-proclaimed forex traders in Kenya who flaunt wealth online, often showcasing expensive cars and lavish lifestyles.
Speaking when he appeared in a local podcast on Thursday, September 11, 2025, he argued that if it were truly possible to make millions in a single day through forex trading, the phenomenon would be widespread, with professionals across sectors, including teachers and government officials, abandoning their jobs for the trade.
He pointed out that even the president, who earns a reported Ksh1 million a month, would not hesitate to enter forex trading if it paid as claimed.
“Yes, money has many aspects, but do you really think Forex pays as they claim, that people can make 20 million shillings in a day? Even the president earns one million shillings a month, so if forex really paid that much, everyone would be in it,” he said.
Kwach drew comparisons with ordinary professions to illustrate his point.
He noted that farmers work tirelessly for months only to sell modest yields at low prices, while teachers dedicate their time to teaching yet earn far less than the supposed daily profits of some traders. These examples, he said, highlight the implausibility of the extravagant wealth being flaunted online.
“If that were true, farmers would not wait four to six months to harvest a small sack of maize to sell at 4,000 shillings. Teachers would not work for 30 days only to get a salary of 50,000 shillings.”
He further explained that money is a simple concept, and that claims of instant riches from forex are often unrealistic.
“I usually say something about money: it is a very simple concept.”
Using everyday examples, he likened the situation to vendors who have been selling sweets in towns for years.
Despite operating publicly for a long time, such vendors are rarely seen with many customers and yet remain in business.
Kwach suggested that the reason these individuals continue to thrive might be because they are engaging in other, less transparent or shady activities alongside their main trade.
“I usually relate it to people who sell sweets in town. You will find someone who has been vending sweets for 15 years, and you rarely see customers, yet the person continues to operate. I am not saying they are selling something else, but maybe that is why they stay in the business. I do not know, but that is the point,” he said.