10 Best Forex Brokers in Kenya
Kenya’s 10 Best Forex Brokers – Reviewed and Ranked. Discover Brokers that not only accept Kenyan Clients but also offer Security via a Capital Markets Authority (CMA) Regulation, Local Support in Kiswahili (Swahili), and KES-based accounts.
Top 10 Forex Brokers in Kenya – A Direct Comparison
 | Ultra low spreads Flexible leverage Fast and reliable trade execution Multilingual support M‑Pesa integration |  |  |
 | Competitive spreads Advanced platforms Regulated by top-tier authorities CMA‑licensed | | |
 | Variety of account types Strong global regulation Free VPS hosting Regular Kenyan Based promotions | | |
 | High Regulation MT4/MT5 Competitive spreads Trusted Support Local Kenyan Education | | |
 | Proprietary Trading Station No dealing desk execution Offers advanced API | | |
 | ECN pricing with raw spreads MT4/MT5 Strong range of CFDs Fast execution M-Pesa Supported | | |
 | Large global presence No Withdrawal Fee Comprehensive educational resources Regional Kenyan Support | | |
 | Flexible leverage Fast execution speeds Diverse account types Strong educational resources | | |
 | Regulated in multiple jurisdictions Supports automated trading User-friendly platforms | | |
 | Commission-free accounts Prominent in Africa Fast deposit/withdrawals | | |
10 Best Forex Brokers in Kenya (2025)
- Exness – Authorized by the Capital Markets Authority (CMA)
- Pepperstone – Robust risk management tools for Kenyan Traders
- HFM – Offers free VPS hosting for active traders in Kenya
- Windsor Brokers – Established broker with over 20 years in the market
- FXCM – Advanced charting and analysis tools
- FP Markets – ECN pricing with raw spreads from 0.0 pips
- XM – Large local presence in Kenya with 3.5 million global clients
- FXTM – Diverse account types and Fast execution speeds
- AvaTrade – Offers social trading and copy trading features
- Octa – Advanced API and algorithmic trading tools
Top 10 Forex Brokers (Globally)
1. Exness
 | Minimum Deposit: $1 Regulated by: CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA Crypto: Yes |
Exness is legitimately regulated in Kenya under Exness (KE) Limited, holding CMA license number 162, which authorizes them as a non-dealing online forex broker. Consequently, this local license affirms compliance with Kenyan law and enables them to accept and serve Kenyan traders.
| Broker | Exness |
| Regulation | 🇨🇼 CBCS 🇨🇾 CySEC 🇬🇧 FCA 🇸🇨 FSA 🇻🇬 FSC 🇲🇺 FSC 🇿🇦 FSCA 🇰🇪 CMA 🇯🇴 JSC |
| Minimum Deposit | Varies by Account |
| Spreads From | 0.0 pips |
| Commissions | From $0 to $3.5 per lot |
| Swap Fees | Yes |
| Leverage | Up to 1:2000 |
| CFDs Total | 100+ |
| Account Segregation | Yes |
| Negative Balance Protection | Yes |
| Investor Protection Schemes | Yes |
| Open an Account | |
Frequently Asked Questions
Can Kenyan traders open accounts with Exness?
Yes – with their CMA-regulated entity, Exness welcomes Kenyan clients for live trading. Furthermore, they support Kenyan payment methods like M-Pesa, and deposits/withdrawals are processed instantly, often with just a $1 minimum.
Is my money safe with Exness in Kenya?
A CMA regulation enforces strict rules: client-fund segregation, regular audits, and legal investor protection. Additionally, Exness is also overseen by top regulators like the FCA, CySEC, FSCA, and others.
| Minimum Deposit: $1 Regulated by: CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| Flexible trading accounts | Demo account is only valid for 21 days |
| Well-regulated + Comprehensive fund protection | Limited product portfolio |
| Powerful trading platforms | Country Restrictions |
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐⭐ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
Our Insights
Exness holds an active Kenya (CMA) license, fully serving and protecting Kenyan traders with compliant services, local payment options, and strong global oversight. Therefore, they are a secure and accessible choice.
2. Pepperstone
 | Minimum Deposit: $200 Regulated by: ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB Crypto: Yes |
Pepperstone operates in Kenya via Pepperstone Markets Kenya Ltd (CMA license 128), making them fully regulated locally. As a result, they accept Kenyan traders, providing access to global platforms and instruments under compliant governance and established international oversight.
| Broker | Pepperstone |
| Minimum Deposit | AU$10 |
| Fund Withdrawal Fee | None |
| Spreads From | 0.0 pips |
| Commissions | Yes |
| Swap Fees | Yes |
| Leverage | 1:500 (Pro), 1:200 (Retail) (Retail Leverage is license-specific and can be as low as 1:30) |
| Margin Requirements | Varies |
| IB Program | Yes |
| Regulation | 🇦🇺 ASIC 🇩🇪 BaFin 🇰🇪 CMA 🇨🇾 CySEC 🇦🇪 DFSA 🇬🇧 FCA 🇧🇸 SCB |
| Open an Account | |
Frequently Asked Questions
Can Kenyan traders fund their Pepperstone account locally?
Pepperstone accepts M‑Pesa deposits and withdrawals instantly and fee‑free. Bank transfers and card options are also available, though currency conversion may apply as base accounts are in USD or GBP.
How safe is trading with Pepperstone in Kenya?
Pepperstone enforces client‑fund segregation and adheres to strict AML controls. Their CMA regulation, plus global oversight by ASIC, FCA, CySEC, and DFSA, ensures a high level of safety and operational transparency.
| Minimum Deposit: $200 Regulated by: ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| There is no initial minimum deposit to register an account | Pepperstone charges currency conversion fees |
| Various deposit methods can be used to fund accounts | There are limited crypto payment options compared to competitors |
| Pepperstone accepts several major currencies for deposits | Bank wire transfers can take up to 7 days |
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐☆☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐☆☆ |
Our Insights
With valid CMA regulation, local payment support, and strong international credentials, Pepperstone is a secure and convenient choice for Kenyan traders seeking professional-grade forex and CFD trading.
3. HFM
 | Minimum Deposit: $0 Regulated by: FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA Crypto: Yes |
HFM, or HF Markets, is officially regulated in Kenya under HFM Investments Limited with CMA license number 155. This local regulation allows them to legally accept Kenyan traders and offer services tailored to the Kenyan market, including M-Pesa funding.
| Broker | HFM |
| Minimum Deposit | None |
| Spreads from | 0.0 pips |
| Commissions | Varies by account type and instrument |
| Bonus Offers | Yes |
| Negative balance protection | Yes |
| Investor Protection Schemes | Yes |
| Account Segregation | Yes |
| Swap Fees | Varies by instrument and position duration |
| Leverage | Up to 1:1000 |
| Margin requirements | Varies by account and leverage |
| CFDs Total Offered | 1,000+ |
| Affiliate program | Yes |
| IB Program | Yes |
| Regulation/Licenses | 🇿🇦 FSCA 🇦🇪 DFSA 🇸🇨 FSA 🇬🇧 FCA 🇲🇺 FSC 🇰🇪 CMA |
| Open an Account | |
Frequently Asked Questions
Can Kenyan traders deposit and withdraw locally with HFM?
HFM supports local deposit and withdrawal options like M-Pesa and bank transfers in KES or USD. Minimum deposits start from just KES 1,000 or $5, and transactions are usually instant and fee-free.
Is trading with HFM safe for Kenyans?
HF Markets operates under CMA regulation in Kenya, which mandates strict client protection measures. They also comply with global standards under regulators like CySEC, FCA, and FSCA, enhancing their trustworthiness and operational security.
| Minimum Deposit: $0 Regulated by: FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| High-Trust Score | Small range of tradable assets |
| Low Min. Deposit | Limited Customer Support |
| MT4 and MT5 | Limited Base Account Currency |
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
Our Insights
HFM is a fully regulated and secure forex broker in Kenya, offering local payment support, a CMA license, and global credibility. It is a dependable option for Kenyan traders looking for low-cost, compliant trading services.
Top 3 CMA Regulated Forex Brokers in Kenya – Exness vs Pepperstone vs HFM
| Broker | | | |
| Regulation | 🇨🇼 CBCS 🇨🇾 CySEC 🇬🇧 FCA 🇸🇨 FSA 🇻🇬 FSC 🇲🇺 FSC 🇿🇦 FSCA 🇰🇪 CMA 🇯🇴 JSC | 🇦🇺 ASIC 🇩🇪 BaFin 🇰🇪 CMA 🇨🇾 CySEC 🇦🇪 DFSA 🇬🇧 FCA 🇧🇸 SCB | 🇿🇦 FSCA 🇦🇪 DFSA 🇸🇨 FSA 🇬🇧 FCA 🇲🇺 FSC 🇰🇪 CMA |
| Minimum Deposit | Varies by account | AU$10 | None |
| Spreads From | 0.0 pips | 0.0 pips | 0.0 pips |
| Commissions | From $0 to $3.5 per lot | Varies by account | Varies by account type and instrument |
| Crypto Trading | Yes | Yes | Yes |
| Leverage | Up to 1:2000 | 1:500 (Pro), 1:200 (Retail) | Up to 1:1000 |
| CFDs Offered | 100+ | 1,000+ | 1,000+ |
| Platforms | MT4, MT5 | MT4, MT5, cTrader | MT4, MT5 |
| Local M-Pesa Support | Yes | Yes | Yes |
| Negative Balance Protection | Yes | Yes | Yes |
| Account Segregation | Yes | Yes | Yes |
| Investor Protection Scheme | Yes | Yes | Yes |
| Open an Account | | | |
4. Windsor Brokers
 | Minimum Deposit: $50 Regulated by: FSC, CySEC, JSC, FSA, CMA Crypto: Yes |
Windsor Brokers operates in Kenya through Windsor Markets (Kenya) Limited, which holds CMA license number 156. This license allows them to legally provide forex trading services to Kenyan traders under local regulatory supervision.
| Broker | Windsor Brokers |
| Minimum Deposit | 50 USD |
| Spreads | From 0.0 pips |
| Leverage | Up to 1:1000 |
| Fees and Commissions | Spreads from 0.0 pips, commissions from $8 round turn |
| Inactivity Fee | None |
| Scalping | Yes |
| Hedging | Yes |
| Regulation and Licenses | 🇧🇿 FSC 🇨🇾 CySEC 🇯🇴 JSC 🇸🇨 FSA 🇰🇪 CMA |
| Open an Account | |
Frequently Asked Questions
Can Kenyan traders open accounts and fund locally with Windsor Brokers?
Windsor Brokers accepts Kenyan traders through its licensed Kenyan branch. While they support various global funding methods, they currently do not offer local currency (KES) accounts or instant M-Pesa payments.
Is Windsor a safe broker for Kenyans?
Yes, Windsor Brokers is regulated in Kenya by the CMA and internationally by CySEC, FSC, JSC, and FSA. They enforce client fund segregation, negative balance protection, and adhere to strong compliance and audit standards.
| Minimum Deposit: $50 Regulated by: FSC, CySEC, JSC, FSA, CMA Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| Regulated in Kenya by the CMA | Limited local funding methods |
| Multi-regulated globally) | No KES-denominated trading accounts |
| MT4 and MT5 | High minimum deposit |
| Segregated client funds | Fewer educational resources |
| Variety of account types | Limited product range |
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐☆☆ |
| 4 | Research and Education | ⭐⭐☆☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐☆☆☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐☆☆ |
Our Insights
Windsor Brokers is a CMA-authorized forex broker in Kenya, offering trusted trading conditions backed by international oversight. It’s a solid choice for Kenyan traders, though local payment flexibility remains somewhat limited for now.
5. FXCM
 | Minimum Deposit: $50 Regulated by: FCA, ASIC, CySEC, FSCA Crypto: Yes |
FXCM is not regulated by Kenya’s Capital Markets Authority (CMA), but it does accept Kenyan traders through its offshore entity in Bermuda. While M-Pesa isn’t supported, traders can access global platforms, tools, and educational resources.
| Broker | FXCM |
| Minimum Deposit | 50 USD |
| Inactivity Fee | Yes |
| Spreads | From 0.2 pips |
| Leverage | 1:30 (UK) 1:400 (other regions) |
| Fees and Commissions | Spreads from 0.2 pips, commissions are not charged |
| Bonuses | Yes |
| Open an Account | |
Frequently Asked Questions
Is FXCM licensed by Kenya’s Capital Markets Authority (CMA)?
No, FXCM is not licensed by the CMA. Kenyan traders are onboarded through its offshore entity in Bermuda, which means trading is allowed but lacks local regulatory oversight or investor protection under Kenyan law.
Can Kenyan traders use M-Pesa with FXCM?
No, FXCM does not currently support M-Pesa deposits or withdrawals. Kenyan clients must use alternative methods like bank cards, Skrill, or wire transfers, which may involve additional processing time and currency conversion fees.
| Minimum Deposit: $50 Regulated by: FCA, ASIC, CySEC, FSCA Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| Multitude of educational materials | High Currency conversion fees |
| Multiple Account Types | Narrow asset portfolio |
| 24-hour multilingual customer | Limited Trading Platforms |
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐☆☆☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
Our Insights
FXCM is a reliable global broker that accepts Kenyan traders, though it lacks CMA regulation and M-Pesa support. It suits experienced traders seeking advanced tools, but may not be ideal for those needing local funding convenience or regulation.
6. FP Markets
 | Minimum Deposit: $100 Regulated by: ASIC, CySEC, FSCA, FSA, FSC, CMA Crypto: Yes |
FP Markets is not regulated by Kenya’s Capital Markets Authority (CMA), but it does accept Kenyan traders. Clients from Kenya are registered under its offshore entity, allowing access to global markets, platforms, and competitive trading conditions.
| Broker | FP Markets |
| Minimum Deposit | 100 AUD |
| Fund Withdrawal Fee | None |
| Spreads From | 0.0 pips |
| Commissions | Commission-free on some accounts |
| Account Segregation | Yes |
| Negative balance protection | Yes |
| Investor Protection Schemes | Yes |
| Swap Fees | Yes (varies by account type and asset) |
| Leverage | Up to 1:500 |
| Margin Requirements | Varies by asset and leverage level |
| Regulation | 🇦🇺 ASIC 🇨🇾 CySEC 🇿🇦 FSCA 🇸🇨 FSA 🇲🇺 FSC 🇰🇪 CMA |
| Open an Account | |
Frequently Asked Questions
Can Kenyans trade with FP Markets?
Yes, Kenyan traders can register and trade with FP Markets via its offshore entity. While not CMA-regulated, the broker offers full platform access, multiple account types, and international trading support for Kenyan clients.
Does FP Markets support M-Pesa deposits?
FP Markets does not directly support M-Pesa. Kenyan traders must use options like credit cards, Skrill, Neteller, or bank transfers for deposits and withdrawals, which may include additional costs and slower processing times.
| Minimum Deposit: $100 Regulated by: ASIC, CySEC, FSCA, FSA, FSC, CMA Crypto: Yes |
| ✓ Pros | ✕ Cons |
| Low forex fees | Limited product portfolio |
| Negative balance protection | Selected Withdrawal Fees |
| Competitive Spreads | High Fees for International Bank Withdrawals |
| Strong Regulation | Limited Educational Resources |
| MetaTrader 4, MetaTrader 5, and cTrader | Lacks a proprietary platform |
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
Our Insights
FP Markets suits Kenyan traders seeking tight spreads, ECN pricing, and robust platforms. However, a lack of CMA regulation and M-Pesa support may be inconvenient for locals prioritizing regulatory protection and easier mobile money transactions.
7. XM
 | Minimum Deposit: $5 Regulated by: FSC Crypto: Yes |
XM is not regulated by Kenya’s Capital Markets Authority (CMA), but it does accept Kenyan traders through its international entities. Kenyan clients can access its platforms, educational tools, and promotions, though without local regulatory protection or M-Pesa support.
| Broker | XM |
| Regulation | 🇧🇿 FSC 🇲🇺 FSC 🇸🇨 FSA |
| Minimum Deposit | 5 USD |
| Swap Fees | Yes |
| Leverage | Up to 1:888 |
| Margin Requirements | Variable |
| CFDs Total | 1,000+ |
| Spreads From | 0.6 pips on major pairs |
| Commissions | Zero commissions on most account types |
| Rebate Program | Yes |
| Open an Account | |
Frequently Asked Questions
Can Kenyan traders open accounts with XM?
Yes, Kenyan traders can register with XM under its global entities. Although it lacks CMA regulation, XM offers full access to trading platforms, multiple account types, and various promotions for users based in Kenya.
Does XM support M-Pesa for Kenyan clients?
XM does not currently offer direct M-Pesa deposits or withdrawals. Kenyan users need to use alternatives such as bank cards, e-wallets, or bank transfers, which may include currency conversion and slightly longer processing times.
| Minimum Deposit: $5 Regulated by: FSC Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| XM has an extremely low 5 USD minimum deposit | XM charges currency conversion fees |
| There are several bonuses offered | There are strict bonus terms and conditions |
| Traders can access fee-free deposit methods | There are limited payment methods for deposits |
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐⭐ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
Our Insights
XM is a strong global broker with attractive features and educational support. While it welcomes Kenyan traders, its lack of CMA regulation and M-Pesa support may be limiting for those seeking local convenience and regulatory assurance.
8. FXTM
 | Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Crypto: Yes |
FXTM is not regulated by Kenya’s Capital Markets Authority (CMA), but it does accept Kenyan traders through its offshore entities. Kenyan clients can access a variety of account types, educational tools, and flexible trading options with competitive conditions.
| Broker | FXTM |
| Minimum Deposit | 200 USD |
| Fund Withdrawal Fee | Varies by method and account type |
| Spreads From | 0.1 pips |
| Spread Type | Variable Floating |
| Commissions | Variable; often zero for standard accounts |
| Swap Fees | Daily fees after a certain time period |
| Leverage | 3000 |
| Min. Lot Size | 0.01 |
| Margin Requirements | Varies by instrument and account type |
| Regulation | 🇬🇧 FCA 🇰🇪 CMA 🇲🇺 FSC 🇦🇪 SCA |
| Open an Account | |
Frequently Asked Questions
Is FXTM available to Kenyan residents?
Yes, FXTM accepts Kenyan traders under its international licenses. Though not CMA-regulated, the broker offers full platform access, diverse account types, and localized support to help Kenyan clients engage effectively in the global forex market.
Does FXTM support M-Pesa for Kenyan users?
Yes, FXTM supports M-Pesa for deposits and withdrawals in Kenya, offering faster and more convenient transactions. This local payment option makes it easier for Kenyan traders to fund accounts and manage withdrawals in their local currency.
| Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| Micro Account for Beginners | Inactivity Fee |
| Dedicated customer support teams | Fees apply to most withdrawal methods |
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐☆☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
Our Insights
FXTM is a solid broker choice for Kenyan traders due to M-Pesa support and strong trading features. However, the absence of CMA regulation may concern those prioritizing local oversight and added investor protection under Kenyan financial laws.
9. AvaTrade
 | Minimum Deposit: $100 Regulated by: CBI, BVI, FSC, ASIC, FSCA, JFSA, FFAJ Crypto: Yes |
AvaTrade is not regulated by the Capital Markets Authority (CMA) in Kenya. Kenyan traders access AvaTrade’s services through its international entity, Ava Trade Markets Ltd, which is regulated by the British Virgin Islands Financial Services Commission (BVI FSC) under license number SIBA/L/13/1049.
| Broker | AvaTrade |
| Minimum Deposit | 100 USD |
| Fund Withdrawal Fee | None |
| Spreads from | 0.9 pips |
| Commissions | None |
| Swap Fees | Applicable |
| Leverage | Up to 400:1 |
| Margin Requirements | Varies by account type and instrument |
| Bonus Offers | 100% Bonus |
| Affiliate Program | Yes |
| IB Program | Yes |
| Rebate Program | Yes |
| Regulation | 🇮🇪 CBI 🇻🇬 BVI 🇲🇺 FSC 🇦🇺 ASIC 🇿🇦 FSCA 🇯🇵 JFSA 🇯🇵 FFAJ |
| Open an Account | |
Frequently Asked Questions
Does the CMA in Kenya license AvaTrade?
AvaTrade does not hold a CMA license and is not authorized to provide regulated online forex trading services in Kenya.
How can Kenyan clients open accounts with AvaTrade?
Kenyan traders access AvaTrade through its offshore entity in the British Virgin Islands, which operates outside CMA oversight, limiting recourse under local investor protection frameworks.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Over 1,260 instruments | Inactivity fees on dormant accounts |
| Fixed spreads from 0.6 pips on the Pro Account | The demo account is available for 21 days |
| Islamic Account | Deposit and withdrawal options are limited |
| There is a free demo account available | Leverage is capped at 1:30 for retail accounts |
Our Insights
AvaTrade has built a strong global reputation, but the CMA has not authorized it. Kenyan traders who use AvaTrade trade without the protections that local regulation provides.
Octa
 | Minimum Deposit: $25 Regulated by: CySEC, MISA, FSCA, FSC Crypto: Yes |
Octa is not regulated by Kenya’s Capital Markets Authority (CMA), but it does accept Kenyan traders. Clients in Kenya can register through their offshore entity and benefit from commission-free trading, bonuses, and a simplified, user-friendly platform experience.
| Broker | Octa |
| Minimum Deposit | 25 USD |
| Fund Withdrawal Fee | Varies by method |
| Spreads From | 0.0 pips |
| Commissions | Variable |
| Swap Fees | Varies |
| Leverage | Up to 1:500 |
| Margin Requirements | Varies |
| Account Segregation | Yes |
| Negative Balance Protection | Yes |
| Investor Protection Schemes | Yes |
| Regulation | 🇨🇾 CySEC 🇻🇺 MISA 🇿🇦 FSCA 🇲🇺 FSC |
| Open an Account | |
Frequently Asked Questions
Can Kenyans trade with Octa?
Yes, Octa accepts traders from Kenya under its offshore regulation. While it’s not CMA-licensed, Kenyan users can open accounts, trade major instruments, and participate in bonuses, though they trade without local regulatory protection.
Does Octa offer M-Pesa for Kenyan clients?
Yes, Octa supports M-Pesa deposits and withdrawals in Kenya. This feature offers fast, convenient transactions in local currency, making the funding process simple and accessible for Kenyan traders looking to manage accounts easily.
| Minimum Deposit: $25 Regulated by: CySEC, MISA, FSCA, FSC Crypto: Yes |
Pros and Cons
| ✓ Pros | ✕ Cons |
| Octa has multi-currency support across deposit methods | There are withdrawal restrictions on the deposit bonus |
| Deposits with Octa do not incur internal fees | There are limited deposit methods compared to other brokers |
| There is an attractive 50% deposit bonus | There are geographic restrictions on deposit methods |
| Octa keeps all client funds in segregated accounts | Currency conversion fees might apply |
Final Score
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐☆☆ |
Our Insights
Octa is a user-friendly broker with M-Pesa support and no commissions, appealing to Kenyan traders. However, the absence of CMA regulation means users trade without local oversight, which may concern those seeking maximum regulatory assurance.
Is Forex Trading Legal and Popular in Kenya?
Forex trading is legal and widely popular in Kenya, with the Capital Markets Authority (CMA) regulating it to ensure a secure trading environment. Additionally, the market’s growth is driven by mobile access and online education.
Still, traders should use CMA-licensed brokers to avoid risks from unregulated platforms.
Criteria for Choosing a Forex Broker in Kenya
| Criteria | Description | Importance |
| Regulation and Licensing | Prefer brokers regulated by reputable authorities | ⭐⭐⭐⭐⭐ |
| Local Support and Accessibility | Brokers with Kenyan offices or localized services | ⭐⭐⭐⭐☆ |
| Trading Costs | Competitive spreads, low commissions, and no hidden charges help traders maximize profits. | ⭐⭐⭐⭐☆ |
| Platform Usability | Should support MT4/MT5 or user friendly proprietary platforms with stable mobile and desktop access. | ⭐⭐⭐⭐☆ |
| Deposit and Withdrawal Methods | Fast, secure, and low fee options like M Pesa, bank transfer, or e-wallets are key for Kenyan users. | ⭐⭐⭐⭐☆ |
| Customer Support | 24/5 or 24/7 multilingual support (especially in English and Swahili) ensures timely help. | ⭐⭐⭐⭐☆ |
| Account Types | Brokers should offer flexible account types | ⭐⭐⭐⭐☆ |
| Education and Research | Quality webinars, tutorials, and daily market analysis are helpful for beginner and experienced traders. | ⭐⭐⭐⭐☆ |
| Execution Speed | Fast trade execution reduces slippage and improves the trading experience for all strategies. | ⭐⭐⭐⭐☆ |
| Reputation and Reviews | Trusted by local traders and reviewed positively across platforms for transparency and service. | ⭐⭐⭐⭐⭐ |
What Real Kenyan Traders Want to Know
Q: What should I look for in a forex broker in Kenya? – Brian, Kenya
Q: Do brokers in Kenya support M-Pesa? – Fatma, Kenya
Q: Are there brokers in Kenya that offer Islamic (swap-free) accounts? – Yusuf, Kenya
Q: What is the minimum deposit to start trading in Kenya? – Alice, Kenya
Q: How do I verify if a broker is licensed in Kenya? – John, Kenya
In Conclusion
Forex trading in Kenya has grown in popularity in recent years. As a result, top brokers like HFM, IG, Interactive Brokers, XTB, Forex.com, and AvaTrade now provide various account types, learning tools, and advanced platforms.
Moreover, they offer Islamic accounts, competitive spreads, and mobile trading. Therefore, Kenyan traders should always choose CMA-regulated brokers to ensure a secure and trustworthy trading experience.
You might also like:
- Exness Review
- Pepperstone Review
- HFM Review
- Windsor Brokers Review
- FXCM Review
- FP Markets Review
- XM Review
- FXTM Review
- AvaTrade Review
- Octa Review
Faq
Yes, forex trading is legal in Kenya and regulated by the Capital Markets Authority (CMA), which oversees licensed forex brokers and protects investors.
Yes, several brokers are licensed by the CMA, including EGM Securities, Pepperstone Kenya, and Scope Markets Kenya.
Yes, Kenyan traders can register with offshore brokers not regulated by the CMA, though these carry less local investor protection.
The CMA is Kenya’s official regulatory body for financial markets, including online forex trading and broker licensing.
It can be, if the broker is regulated by top-tier authorities like the FCA or ASIC, but local CMA regulation adds an extra layer of protection.
No, individual traders do not need a license. However, forex brokers offering services in Kenya must be licensed by the CMA.
It can be, but it involves risk. Profits depend on your knowledge, strategy, risk management, and the reliability of your broker.
The best times are during major market overlaps, like the London/New York session (around 4 PM to 10 PM EAT).
Yes, most brokers offer mobile apps compatible with Android and iOS, including MT4, MT5, and proprietary platforms.
Not necessarily. Many brokers accept M-Pesa and e-wallets, though a bank account can provide more flexibility for larger transactions.
Sidebar rates
Join 350 000+ traders receiving Free Trading Signals
