But they have their own platform which is available on all devices. They offer funding in USD as well as in Kenyan Shilling KSh. via local bank transfer. But the account currency will be in USD. HotForex is our recommend forex broker for Kenyan traders. HotForex is regulated by CMA as a Non-dealing online forex broker with license no. This makes HotForex a low risk forex broker for traders in Kenya. In terms of fees, they charge a low spread i. For low spreads, traders can open open Zero account with which the spreads start from 0 pips.

The commission per lot with this account is Kes. Only a few brokers offer this feature. They use the payment gateway Dusupay on their website, and the minimum deposit is Kes. They also have a local office with address in Nairobi on their website. They also have local phone no. They are well regulated under multiple Top-Tier regulators including FCA, FSCA, CySEC, so we consider them a safe broker.

Exness offers features like excellent support, low spreads, education through tutorials, strategies and free analysis tools.

Exness provides services for two types of accounts — Standard and Professional. The maximum leverage offered for both accounts is One of the major benefits with Exness is they have very low spread compared to most other competing brokers. Account types available help both newbies and pro traders. Other benefits include readily available support, fast executions, daily market reports, support from Expert advisors and meta trader plugin supports. There are more than instruments to choose from including forex, CFDs on precious metals, energy and indices.

Their fees is lowest with their Ultra Low account. Their trading accounts are quite straightforward. XM provides four account options. For Standard and Micro account, the required minimum deposit amount is 5 USD and gives a maximum leverage of For XM Ultra Low account, the required minimum deposit amount is 50 USD with similar leverage.

Plus they have free access to forex market education including their research, forex webinars, video tutorials and free daily technical analysis that is available to all their customers. Plus, they accept M-Pesa for account funding. Available Platforms: Metatrader 4 and Metatrader 5 for desktop and mobile and WebTrader. The parent company of FXTM, Exinity Group Exinity Capital East Africa is regulated by CMA, so it is considered a safe forex broker to trade with for Kenyan traders.

FXTM offers two broad account options — Standard and ECN, both accounts having further sub-account types. Both accounts come with a maximum leverage of upto Additional benefits include in-depth market analysis, tutorials through webinars and seminars. Additionally, FXTM also supports trading in Cryptocurrency. Scope markets SCFM Limited was the second forex broker that was granted license by CMA in It is considered a low risk forex broker for Kenyan traders because of their regulated by CMA.

The Silver account is a standard account type with no commissions, but their average fees is quite high i. Their support is decent. There are some points that you must check in a broker before you choose them. Below is our points checklist that you can use an a guideline:.

Regulated brokers can be held accountable for any bad practises like stop hunting, trading againt customers etc. But when you are trading with an unregulated broker there will be no Grievance Redressal in case the broker commits a fraud against you. There are 6 forex brokers regulated by CMA as of Feb.

They normally update the list every month. For ex. FXPesa is regulated for offering Forex Trading as Non-Dealing FX broker under License no. The above example is the Regulation and Client Protection document as FXPesa which highlights their company name, Company Registration No. Some brokers may tell you that their spread is low, but may not tell the fact that they charge commission per trade or charge fees during withdrawals.

Some forex brokers like FXTM charge withdrawal fees with some of their methods. During our tests we found that their overall fees is quite competitive. They have competitive spread from 1. Also there is no inactivity fees. Ask your forex broker about their overall fees. Most brokers will have a spread comparison table on their website. Is the instrument that you want to trade available or not?

For example, you might want to trade CFDs on NASDAQ Many other forex brokers like Exness, FXTM, Hotforex etc.

offer wide range of trading instruments. But if thee is some specific instrument that you want to trade, then always check first if that is available with the broker. Ensure that these methods are available at the forex broker you are choosing. This below comparison table shows the average withdrawal time for different methods available at FxPesa.

Similarly all other regulated brokers will have similar page on their website. But there are no extra charges for withdrawal in Bank account in Kenya, and Mobile Money like MPesa.

For Kenyan traders who are looking for brokers regulated by the CMA , the list will provide valuable insights. Traders can evaluate and see whether any of these brokers meet their trading needs or objectives.

EGM Securities is an online trading broker based in Kenya, offering traders with a variety of financial instruments which can be traded along with MetaTrader 4, a variety of trading account options, a range of trading instruments, and a variety of reliable payment methods through which deposits and withdrawals can be made. FxPesa is a Kenyan-based broker which is also the retail arm of EGM Securities, operating as an online broker under the same CMA regulation.

FxPesa offers traders with a standard account and maximum leverage of up to The spreads that traders can expect start from 1. SCFM Limited, also known as Scope Markets, is a CMA-licensed online forex broker which operates in Kenya. When trading with Scope Markets, traders can expect spreads from 1. Pepperstone is one of the largest online trading brokers which offers traders worldwide access to global markets. Traders have access to a variety of financial instruments, competitive trading conditions, and choice between dynamic accounts.

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Avatrade 2. Exness 3. Justforex 4. Oanda 5. BDSwiss 6. Tickmill 7. Pepperstone 8. FBS 9. OctaFX Legacy FX. Exness 2. Avatrade 3. Hotforex 4. Forextime 6. CM Trading 7. Go Markets 8. Alpari Easy Markets. OctaFX 2. Bdswiss 3. Axiory 4. Pepperstone 5. Plus 6. Exness 8. Go Markets 9. com Oanda 2. com 4. TD Ameritrade 5. ATC Brokers 6. Nadex 7. com 8. ACY 9.

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We have rated and reviewed the best Forex Brokers accepting Kenyan Traders. This is a complete listing of The 10 Best Forex Brokers in Kenya. In this in-depth write-up you will learn:. The Kenyan shilling KES is the official currency of the Republic of Kenya. Prices often include the abbreviation KSh , whereas KES is the foreign exchange FX trading symbol. Selected CMA Regulated Brokers in Kenya may offer KES-based trading accounts. Overall, Exness can be summarised as a trustworthy and worthwhile broker that is very competitive in terms of its trading fees against major currency pairs.

The spread is also very low and offers a sign-up bonus for 1st-time traders. Rated 2 of Recommended FX Brokers. Minimum Deposit. Islamic Account. Trading Fees. Overall, Avatrade can be summarised as a safe and trustworthy broker with a user-friendly copy trading platform. Rated 1 of Recommended FX Brokers. Overall, Pepperstone can be summarised as a credible and trustworthy broker. Pepperstone is considered low-risk to medium-risk.

Pepperstone offers competitive trading fees and pip spreads which gives it an overall trust score of 92 out of Rated 10 of Recommended FX Brokers. Overall, Exinity can be summarised as a credible and trusted broker that offers regional services plus local regulation by the CMA in Kenya.

Exinity provides Contracts for Difference CFDs and low spreads on multiple trading instruments. Rated of Recommended FX Brokers. Overall, Scope Markets is very competitive in terms of its trading fees and spreads. Scope Markets can be summarised as a safe and well-regulated broker with a trust score of 90 out of High Trust.

Scope Markets. Overall, FXPesa can be summarised as a trustworthy broker that provides Forex and CFD trading to retail traders in Kenya. It is regulated by the Capital Markets Authority of Kenya. Overall, Windsor Brokers is very competitive in terms of its trading fees and spreads. Windsor Brokersindsor bro can be summarised as a safe and well-regulated broker with a trust score of 90 out of High Trust. Overall, EGM Securities can be summarised as a credible and trustworthy broker and is considered low-risk with competitive trading fees and spreads.

EGM Securities has an overall trust score of 69 out of Rated 76 out of 76 Recommended FX Brokers. EGM Securities. Hotforex is regulated by Tier 1 and Tier 2 Trading Bodies. Hotforex has a high trust score of 90 out Rated 6 of Recommended FX Brokers.

FXTM can be summarised as a credible and trusted broker that is very competitive in terms of its trading fees against major currency pairs. The spread is also very low and is considered a low-risk trading environment. FXTM is considered safe because it is regulated by the top FCA. As of May , two additional firms have received a Forex Trade Licence and will fall under the Capital Markets Authority CMA license. Tadenex Limited has been licensed to operate as a non-dealing online foreign exchange trading broker while Tradesense Limited will operate as a money manager.

Rated 32 of Recommended FX Brokers. Now it is your turn to participate:. Which CMA Regulated broker from this list do you intend to test out?

The email we sent was answered in a few hours. EGM Securities has an overall trust score of 69 out of NinjaTrader Forextime 6. Because of this, a reputable broker will provide a variety of account options to suit the demands of its clients.

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