Best Forex Brokers in Kenya 2023: Top KE Forex Brokers List!

A forex broker is a financial services firm that gives traders access to a licensed trading website for trading foreign currencies. Forex is an abbreviation for foreign exchange. In the market, transactions are always made between two distinct currencies. The best forex broker Kenya is sometimes known as a currency trading broker or a retail forex broker.

Trading FX (one currency) is popular among Kenyans. While it is encouraged, the best forex brokers in Kenya 2023 do not need authorization from the CMA to accept Kenyan traders people as users unless they are headquartered in Kenya. Those retail currency CMA-licensed forex brokers Kenya who use these platforms to speculate on currency direction are among the clients of a CMA-licensed forex broker. Their clientele also includes significant financial services businesses that trade on behalf of investment banks and other consumers and start trading. The CMA’s authorized website is; you can also follow them on Twitter and support @CMAKenya and also stay up to date with the latest news and developments.

About Forex Brokers in Kenya

The Capital Markets Authority CMA licenses forex brokers regulated to operate. Thus, CMA-licensed forex brokers can operate in Kenya (Capital Markets Authority CMA). The CMA’s authorized website is We recommend that investors and professional traders follow the CMA on Twitter and support @CMAKenya to stay up to speed with the latest news and developments.

CMA-licensed brokers are safe to trade with since the CMA is a well-respected regulator (Capital Markets Authority CMA) with stringent laws to safeguard stakeholders and professional traders in Kenya. Since Kenya’s capital markets are the third-largest on the continent, the regulators are well-recognized throughout Africa. The CMA oversaw the launch of complex financial products, such as derivatives, on the Nairobi Stock Exchange (NSE).

The Capital Markets Authority CMA does not have a max leverage cap for licensed forex brokers in Kenya, with some best brokers offering up to 400:1 leverage on Kenya forex trading. The disadvantage is that there is no deposit protection plan in place if the best forex broker in Kenya 2023 goes bankrupt.

Licensed Forex Brokers in Kenya

  1. Pepperstone:- Best for Trading Forex & CFDs
  2. FXPesa:- Best for Kenyan Consumers
  3. Scope Markets:- Best for Beginner Traders
  4. XM:- Best For Minimal Spreads & Leverage Options
  5. HFM:- Best for Extra Tools & Knowledge to Assist
  6. IC Markets:- Best for User Experience
  7. Best For Trading Options
  8. easyMarkets:- Best for Innovative Trading Tools
  9. ThinkMarkets:- Best for Users Safety & Security
  10. FXTM:- Best for All-round Offerings

Best Forex Brokers in Kenya List  (Regulated)

Below is the list of top & regulated forex brokers in Kenya 2023 with their brief information so that the users can opt for the preferable one for them:-


Pepperstone is the best fx broker based in Australia that also offers CFDs. The forex brokerage was founded in 2010, and in 2015, it launched a London branch to serve its European clients better. Following Brexit, their German and Cyprus businesses will handle new EU clients. It is a trustworthy broker that accepts Kenyan traders.

As per the Pepperstone forex review, it is regarded as safe for Kenyan fx traders since it is a regulated forex brokers Kenya and by three top-tier financial authorities and other forex brokerage regulatory authority present, namely, the Financial Conduct Authority (British FCA) of the United Kingdom, the BaFin of Germany, and the Australian ASIC that is Australian Securities and Investments Commission, so can be called one of the Kenya best forex brokers.

This is one of the best CMA-regulated FX brokerages in Kenya. The overall ratings amongst the Kenya forex brokers offering are top class. You can go through the complete list of ratings to understand if you should invest your funds in this forex broker in Kenya or not and know about other fees charged; retail investor accounts should be careful while forex trading in financial markets around for new traders and experience level of traders as well.

Pepperstone Features
Best For Best for Trading Forex & CFDs
Year Founded 2010
Minimum Deposit AUD$200
Maximum Leverage 1:400 for Africa
Tradable Assets Forex, CFDs in shares, Commodities, Indices, Energy, ETF

Pepperstone is a regulated forex brokers in two tier-1 jurisdictions, making it a safe (low-risk) trustworthy broker for trading forex and CFDs. Pepperstone offers the platforms like MetaTrader 4, MetaTrader 5, cTrader platform, and TradingView that suit algorithmic forex brokers traders; along with that, it offers trading CFDs and other assets, & also account opening is easy with this platform. Owen Kerr & Joe Davenport established this best fx broker in Kenya in 2010.

Pepperstone - Best Forex Broker in Kenya

The best broker requiring a low minimum deposit required amount at Pepperstone is 200 AUD for any account type. Pepperstone provides 1:400 leverage for forex trading, considered the highest degree of leverage offered by any ASIC-regulated best broker for forex. It also protects client funds.

The best fx broker offers a high level of leverage on other trading CFDs such as stocks, indices, commodities, low fees, tighter spreads, offers Islamic account, major currency pairs, negative balance protection, customer support, and other cryptocurrencies available for crypto trading, also have accounts support like razor account, different best brokers have different account types, vary depending on their budget.

The best forex brokers, Pepperstone, offers 30:1 leverage, minimal competitive spreads, and sophisticated tools. The regulated forex platform is considered safe and has a good overall rating, but always do research before investing as retail CFD accounts lose money; as trading CFDs are complex instruments & the currency pair that come with a high of losing money rapidly due to leverage so never invest more money than your initial deposit as you may lose money during that.

Coffee, orange juice, cotton, cocoa, and sugar are examples of trade commodities of this best fx broker in Kenya. Gold, platinum, palladium, and silver can also be traded at inexpensive prices without any commission. The other financial markets asset classes like CFD markets are quite favorable to many traders in Kenya provided with reliable data. Users of these regulated forex broker buyers can also use the mobile app to buy tradable assets (like trading CFDs or the currency pair) as per CMA regulations.

  • This trustworthy broker has smooth opening an account is quick and entirely digital.
  • Excellent client service, mobile devices support, and a wide range of research tools.
  • Deposit withdrawal fees are none & have the tightest spreads.


  • CFDs are mostly available.
  • The MetaTrader 4 platform is basic & not a proprietary platform.
  • You might lose money on forex trading fees.

Fee Structure of Pepperstone

Pepperstone’s forex trading costs are reasonable and considered safe for traders. Trading-related fees are levied in the form of commissions and spreads. The best forex broker has average fees that vary according to the fx trading platform (doesn’t charge non trading fees). Pepperstone deposit and withdrawal methods are simple & competitive fixed spreads compared to other traders. The known round turn commissions per lot traded, i.e., the fee for starting and closing at 100,000 US Dollar trade, are as follows:-

  • $7.53 for MetaTrader 4
  • $7.00 for MetaTrader 5
  • $7.00 for cTrader

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FXPesa – EGM Securities

FXPesa, one of the best forex brokers, is prominent forex and CFD trading website for Kenyan retail forex traders founded in 2019. FXPesa is a trading name of Kenya EGM Securities Limited (local forex company registration number PVT-AAAAFF7), a Non-Dealing Desk (NDD) trustworthy broker that offers Electronic Communications Network (ECN) execution of Forex and CFD traders and is authorized by Kenya’s Capital Market Authority (CMA license).

Since the CMA regulates their parent broker’s firm and is a well-known forex trading platform in Kenya (Capital Markets Authority), FX Pesa is safe for forex brokers. The Kenyan market execution on this regulated forex brokers platform is also quite interesting to observe and has a good overall rating, and provides reliable data, so start trading with negative balance protection, so you won’t lose money and avoid high risk when dealing forex and CFD markets.

FXPesa Features
Regulated By CMA (Capital Market Authority)
Best For Best for Kenyan Consumers
Year Founded 2019
Minimum Deposit $5 (Executive Account)
$100 (Premiere Account)
Maximum Leverage 1:400
Tradable Assets Currencies, Indices, Commodities, US Shares, UK Shares, EU Shares

FXPesa (best forex broker in Kenya) is a trading name of EGM Securities Limited (Company Registered No. PVT -AAAAFF7), which is recognized and regulated by the CMA (Capital Markets Authority) and has its registered CMA license office on the 12th floor of Delta Corner Towers, Waiyaki Way, Westlands, Nairobi.

The existing broker has one essential factor: FXPesa’s parent firm (Kenya EGM Securities), EGM Futures DMCC, and EGM Securities are regulated by the CMA (Capital Markets Authority), ensuring certainty and security for Kenyan residents.

The forex pesa also features several platforms with web access, a mobile app, a limited range of content, low fees, a compensation scheme, non dealing desk, customer support, major currency pairs, trading CFDs, a wide range of research tools, reliable data, accept mpesa, and an easy-to-use account management page, account opening process, retail investor accounts should be careful while foreign exchange trading currency pairs and other assets to avoid a high degree of risk as retail CFD accounts lose money. Thus regulated platforms protect traders.

FXPesa - Top Forex Broker Kenya

This best forex broker in Kenya was launched in 2019 under the parent company of EGM Securities. FXPesa Kenya’s Executive Account requires the lowest minimum deposit amount of $5 or KES equivalent. The lowest minimum deposit requirement for the Premiere Account with a smaller spread is 100 US Dollar.

You can deposit through bank transfer, e-wallets, or any local bank transfers without incurring any additional cost. The forex brokers accept mpesa that you can use to add money into your account. This is an important factor to consider as very few platforms accept mpesa, and it also supports MetaTrader 4 Trading, which may come in handy for some, as fxpesa minimum deposit is low.

The max leverage available at FXPesa (Kenya EGM Securities) for major and minor forex currency pairs is 1:400. Which is lower than exotic currency pairs. For other assets such as indices, the maximum is 1:200. The precise leverage for each instrument changes, & you may verify it on FXPesa’s licensed website.

These regulated forex broker are mostly safe still; always do research before investing as retail CFD accounts lose money; as CFDs are complex instruments, one should know how CFDs work as they come with a high of losing money rapidly due to leverage, so be fully aware of the risks (high risk).

Starting from trade currencies to indices, commodities, US Shares, UK Shares, EU Shares, Fixed Leverages, Holiday Hours, Expiry Dates, Swaps & Rollover, and NSE Derivatives (stock exchange), you can access multiple assets and create your own portfolio in this regulated forex platform. (accept m pesa)

  • They accept payment in local currency. (m pesa)
  • It is now simpler to open and verify an account with the best forex trading apps.
  • FxPesa provides commission-free trading instruction to Kenyan forex brokers with low fees with MetaTrader 4 support.


  • A required minimum deposit is required, which is large.
  • Variable Spreads for Forex pairs are wider.
  • You might lose money on fees.

Fee Structure of FXPesa

FXPesa’s regulated forex broker general cost structure is simple, albeit the spread levied on transactions is slightly larger than some other brokers. FXPesa charges no commission and no extra charges/fees, making the expenses simple for new customers of the top forex brokers Kenya to grasp (doesn’t charge non trading fees). The platforms deposit and withdrawal methods are simple, and one can easily withdraw funds.

Compared to other brokers, the more excellent spreads are not a detriment; instead, FXPesa forex broker can be chosen for the simplicity of cryptocurrency trading or other assets at the precise cost they give that deals in m pesa for trading CFDs, major currency pairs, or others, so be careful as retail CFD accounts lose money as these are complex instruments.

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Scope Markets

Scope Markets forex broker is a CMA (Capital Markets Authority) registered first broker in Kenya. Since 2019, they have been governed by the local license number 123 as SCFM Limited. Scope Markets Kenya is one of four CMA-regulated brokers in Kenya for non-dealing derivatives and most serious trading activity.

Given that they are locally controlled (accept Kenyan traders), we believe they are pretty safe and have a good overall rating. In terms of features, Scope Markets Kenya offers a solid offering. Furthermore, it is an STP broker, which indicates that it has no conflict of interest with the best forex brokers in the world.

Scope Markets Features
Regulated By IFSC, CMA (Capital Markets Authority)
Best For Best for Beginner Traders
Year Founded 1997
Minimum Deposit $100
Maximum Leverage 500:1
Tradable Assets Forex, Indices, Energies, Metals, Shares

The International Financial Services Commission of Belize (IFSC) regulates Scope Markets Ltd under license numbers 000274/222 and 000274/221.

On the plus side, Scope Markets forex broker are regulated by CMA in Kenya (Capital Markets Authority). Therefore, you can put your faith in it. In terms of trading fees, it is not excessive (not a high fees platform). The account categories are pretty straightforward, and the deposit requirements are not overly stringent; they don’t charge for non trading fees like inactivity.

Furthermore, Scope Markets accepts m pesa, and many other local payment options like bank transfers for instant deposits and withdrawals in a bank account. The time taken to disburse the withdrawal options of the winnings is quite short of this forex broker in Kenya platform.

Scope Markets - One of the Registered Forex Brokers in Kenya

The forex broker was launched in first 1997. Scope Markets has a low minimum deposit for both their 2 Live Silver & Gold Account types for the best forex brokers in Kenya. They have now merged the accounts and is called as the One account. Always do research before investing as retail CFD accounts lose money as a high degree of risk is involved; know how CFDs work.

The maximum leverage offered with this Scope Markets forex broker account is 1:500 (deposit max). Negative balance protection is provided upon request if your balance falls below zero. Beginners can buy all the majors, minors, exotics, spreads, research tools, offer limited Islamic account support, low fees, non dealing desk, customer support, currency pairs, a good foreign exchange market, and other major tradable assets using this platform. The minimum deposit amount is reasonable.

The licensed website supports forex, indices, energies, metals, and shares that users can buy and create a strong portfolio and have account type as per need; retail investor accounts should be careful while the trading as high risk is involved.

  • These international brokers have low costs.
  • High liquidity with the minimum deposit amount.
  • No Central Exchange or Regulator.


  • Lack of transparency.
  • High risk, extreme leverage.

Fee Structure of Scope Markets

As the new One account was introduced, the low minimum deposit started from $100, and the average spread Started from 0.9 pips. With 0% Commission on all financial instruments, & it is excellent compared to other forex brokers.

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XM is a forex & CFD broker that has been in business since 2009. Trading Point Holding, the parent firm of XM, comprises two divisions: XM and It is one of the most famous regulated brokers in the world, with a wide range of trading that is more than 1000 trading CFD instruments, low spreads trading USD accounts, trading CFDs a bonus of up to $500, and favorable trading conditions with account type as needed.

Overall, XM forex broker provides decent service among the best forex trading platforms in Kenya and is licensed by trusted authorities. It offers an extensive range of trading CFD instruments, including 356 CFD options and 57 account currency pairs in Forex for retail and institutional clients, and five cryptocurrency CFDs but no ETFs, for crypto trading.

XM Features
Regulated By CySEC, ASIC, IFSC (International Financial Services Commission)
Best For Best For Minimal Spreads & Leverage Options
Year Founded 2009
Minimum Deposit $5
Max Leverage 1000:1
Tradable Assets Forex, Future CFDs, Commodities

XM Group (one of the best forex brokers trading platforms), which was founded in 2009, is regulated in two tier-1 countries and one tier-2 country, making it a safe broker (average risk) for binary options trading forex and CFDs, like in most countries. However, compared to price leaders like CMC Markets and IG, the broker does not stand out for low-cost trading. Always research before investing as retail CFD accounts lose money and limit exceed deposits with a high degree of risk involved.

XM - Best Forex Trading Brokers in Kenya

XM forex brokers have been in the market since 2009 and continue to enjoy a significant portion of the worldwide retail forex trading market in terms of daily volume. Several sources recommend them since the leading authorities ASIC and CySEC regulate the broker-regulated platform to provide competitive trading conditions and great products and services.

The forex brokers provide demo standard accounts with virtual money, no commissions, minimal spreads, uncomplicated deposit withdrawal methods in your bank account, and a range of leverage options to all beginner traders. The withdrawals are also quite fast; Trading Point Holding, a multinational CFD and FX broker created in 2009, is the parent business of XM.

XM like most brokers provides the required minimum deposit of $5 for both their Micro Account and Standard Account. Most forex traders may also create an XM ‘Ultra Low Account’ with low spreads start at $50 and are great tools for your trading journey.

The highest leverage available for deposits ranging from $5 to $20,000 is 1000:1, which is high compared to most brokers. Similarly, the highest leverages available for deposits ranging from US$20,000 to US$100,000 are 200:1 and 100:1, respectively. For EUR/USD, the spread is as little as 1.6 pips per standard lot. In this account, no commission is charged. Not free deposits.

XM forex brokers offers share trading, which is available trading software like MT5, has Islamic account support, video tutorials to help, customer support, research tools, and no non trading fees. Despite all this, a high degree of risk is involved, so be careful while trading.

Commodity trading is also possible on XM by trading Future CFDs. Cocoa, coffee, copper, maize, soybean, sugar, cotton, and wheat are commodities accessible for business. However, read our honest XM review and learn more about the platform.s in cocoa, coffee, cotton, copper, and sugar.

  • Low spread with ultra low account.
  • Easy withdrawal methods and deposit.
  • No commission.


  • There is no support Kenyan phone number.
  • They charge inactivity fees.
  • Withdrawal charges are also quite high.

Fee Structure of XM

When compared to other regulated brokers, XM forex brokers charges the lowest average spread or typical spread. For example, the usual low spread/fees charged on a Premium account for an account like Ultra Low Standard Account for a central currency pair like EURUSD is 0.6 pips per standard lot. When we examine the same currency pair, EURUSD, with HFM, we see that they charge 1.2 pips per typical lot with their comparable “Premium account.”

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HFM is one of the best forex brokers trading platforms that we suggest for forex trading in Kenya, as it is regulated in Kenya by CMA (Capital Markets Authority). HFM is a global forex & CFD broker that has been in business for over 10 years. Apart from Forex, HFM offers trading activity opportunities in various CFD products and has both retail and institutional traders.

In terms of daily FX trading volume, HFM is one of the world’s largest forex brokers regulated. It claims to have over 3,500,000 active account customers, and clients’ trades posted directly. It also protects the client funds of retail traders.

HFM Features
Best For Best for Extra Tools & Knowledge to Assist
Year Founded 2010
Minimum Deposit $5
Maximum Leverage 1:1000
Tradable Assets Forex, Commodities , Metals, Energies, Indices, CFD Stocks, Physical Stocks, Bonds, ETF

HFM’s best forex brokers are regulated by various top-tier regulators, including the Financial Conduct Authority FCA, FSCA (South Africa), and CySEC. Thus we see them as reliable forex & CFD brokers. However, it is not regulated by the Capital Market Authority for forex trading activities In Kenya and provides safe trading conditions.

HotForex - One of the Best Forex Trading Platforms in Kenya

HFM (CMA regulated brokers) also offers extra tools and knowledge to assist novice forex traders in improving their trading experience. Trading Calculator, VPS Hosting opportunities, Auto Trading, Premium Trader Tools, Economic Calendar, a compensation scheme, copy trading, research tools, Islamic account support, currency pairs, and other exclusive offers or tools help Kenyan forex traders in various ways. The e-courses, video tutorials, webinars, and events make the forex education component highly personalized for retail traders.

Founded in 2010, HFM’s best forex brokers are regulated in one tier-1 country and three tier-2 jurisdictions, making it a safe (average-risk) broker for forex and CFDs trading. For the best forex traders in Kenya, the minimum deposit at HFM is $5 if you sign up for their Micro account. This copy forex brokers supported platform costs $100 for the Premium Account and $200 for the Zero Spread Account.

You can go through the expert strategies to understand how much to invest your money for the first time. Also, you must carefully inspect all the factors before you invest money in the platform always do research before investing know about other fees deducted, as retail CFD accounts lose money high risk involved.

Since account types depend on several factors, the max leverage offered for HFM trading accounts is up to 1:1000. HFM offers commodity trading for Spot contracts in palladium and platinum, as well as futures contracts in cocoa, coffee, cotton, copper, and sugar.

HFM best forex brokers do not charge a fee on commodities, and the minimum deposit is relatively inexpensive. Although, get more unbiased information about the trading accounts platform from our best HFM reviews and explore all the services of these online brokers that can benefit retail traders.

  • Highly regulated broker & account type as per need.
  • First-hand customer service with copy trading & client funds.
  • These international brokers offer low and transparent trading fee along with a demo account.


  • There are no deposit bonuses for dealers brokers based in the EU.
  • Only USD, EUR, & KES are accepted as base currencies.

Fee Structure of HFM

HFM trading account has 6 account options in total, all of which are spread-only (commission-free) except the commission-based Zero account; while they do offer Islamic account as well. However, the Premium Pro account are spread-only, with minimum deposits ranging from $50 to $600, while the HFcopy account is for copy trading. Offers deposit bonus.

According to HFM research, the Zero account is the most economical since it has the lowest spreads and a modest per trade cost, so it varies depending on the account.

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IC Markets

The best forex brokers trading accounts platform is a multinational forex broker in Australia, established in 2007. The Cyprus Securities and Exchange Commission (Cyprus CySEC), the Seychelles Financial Supervisory Authority (FSA), and the Australian Securities and Investments Commission all supervise the corporation, which has multiple branches (ASIC). These best brokers are regarded as safe because the top-tier ASIC governs them.

IC Markets Features
Regulated By ASIC
Best For Best for User Experience
Year Founded 2007
Minimum Deposit $200
Maximum Leverage 1:500
Tradable Assets Forex, Commodities, Indices, Bonds, Digital Currencies, Currency Pairs, Stocks, Futures

The Australian Securities and Investments Commission has authorized and regulated the platform (ASIC), one of the world’s harshest financial regulatory agencies and the most trusted regulatory agencies overseeing the platform, thus providing smooth financial services.

IC Markets - Comes in Top Online Forex Brokers in Kenya

MetaTrader 4 provides IC Markets’ web based trading platform. The ECN broker platform is highly customizable, available in various languages, and includes a detailed charge report. Andrew Budzinski, an entrepreneur, launched in 2007 in Sydney, Australia. ASIC granted the firm an Australian Financial Services License in 2009.

At Markets Kenya, the minimum deposit is $200. The most popular brokers trading platform, particularly Forex trading, includes numerous distinguishing characteristics, including low forex CFD fees: Forex leverage of up to 1:500 is available, known for its award-winning broker for its services

The best forex brokers platform provides trading opportunities in forex, commodities, indices, bonds, digital currencies, standard accounts, retail accounts, currency pairs, stocks, trading CFDs, Islamic account support, MetaTrader 4, MetaTrader 5, easy account opening, copy trading, tight spreads, demo account, financial services, and futures. Still, always research before investing, as retail CFD accounts lose money while using the broker’s platform.

Customers can create their portfolio in any of these trading instruments and trade in other currencies too. However, check our IC Markets review and learn everything about the fx brokers platform in detail.

  • Low forex fees with the best mobile trading experience & fast execution.
  • Account creation is simple and quick with MetaTrader 4, MetaTrader 5 Support & copy trading.
  • Deposits and withdrawals are both free. The platform offers no deposit fees. Also, there are no withdrawal fees imposed on the platform.


  • Product selection is limited.
  • Support for live chat is slow.
  • No deposit bonus.

Fee Structure of IC Markets

Trading fees at IC Markets trading account are cheap. Various account types have different pricing structures. It cost a fee but gave narrow spreads while testing the ‘True ECN with MetaTrader’ account. A typical transaction involves purchasing a leveraged product and holding it for one week before selling it. It also has tight spreads which start from 0.0 pips & easy withdrawal options.

We picked a $20,000 position for FX and a $2,000 position for stock index and CFD transactions in terms of volume. For forex, we utilized max leverage of 30:1, and for stock index CFDs, we used the max leverage of 20:1.

Spreads, commissions, low trading fees, and financing expenses are all included in these all-inclusive benchmark prices for all CFDs brokers. Ideally, the platform is known for low fees by all Kenyan clients. The buy price provided by the platform is also well-known among clients. Its superfast order execution is also the talk of the town.

Sign Up Now is amongst the best registered big brands of Finalto (Australia) Pty Ltd, a subsidiary of Playtech Ltd, a publicly listed corporation on the London Stock Exchange, and a component of the FTSE 250 Index. fx brokers provide traders with rapid, low-cost trading on over 2,200 financial leveraged products, far more than other brokers. Stocks, commodities, Forex, indices, ETFs, cryptocurrencies, and bonds are examples of tradable instruments. Features
Regulated By FCA, CySEC, ASIC, FSCA, FSC
Best For Best For Trading Option
Year Founded 2008
Minimum Deposit $100
Maximum Leverage 1:300
Tradable Assets Metals, Commodities, Energy, Stocks, Currency Pairs, ETF, Crypto, Bonds, the public-traded platform, is regulated in two tier-1 jurisdictions, giving it a risk-free FX and CFD trading broker.’s MarketsX platform, a public-traded platform, is well-designed and simple to use, with a good set of services such as integrated research, market analysis, trading instruments, webinars, low trading fees, demo account, tight spreads, and instructive videos. However, there is a lack of depth in trading tools to compete with trading platforms like IG and Saxo Bank. - Legit Forex Brokers in Kenya, the public-traded founded in 2008, is a subsidiary of a publicly-traded corporation in the United Kingdom (LSE: PTEC).’s account has fair minimum deposit requirements of USD 100, making it accessible to new market intermediaries and new traders. It provides trading on its platform, which is easier to use than third-party trading platforms like MT4 MT5 & deposit bonus. Always do research before investing as retail CFD accounts lose money.

Leverage is limited to 1:50, and products such as CFDs brokers are prohibited. With those qualifications out of the way. provides trading on 28 commodities, which is an extensive selection compared to most other brokers regulated by CMA (as per the capital markets act). Metals, energy, and softs such as cotton, wheat, coffee, and soybeans are examples of these. Learn more about the fx brokers platform in our review and the list of features suitable for you.

  • Well regulated, MT4 platform, MT5 platform.
  • Fx brokers with tight spreads & a demo account.
  • Wide and a good range of assets & trading instruments.
  • Fast and free withdrawals with mobile trading.


  • High minimum deposit.

Fee Structure of’s trading account was evaluated to compare its expenses to those of other brokers. The expenses were calculated using the trading fees for one lot (100,000 USD) on the EUR USD, including forex spread and commission; they have many account options to choose from along with 24 hours trading.

The average price of trading one lot of EUR/USD on the Markets platform is USD 8 and USD 6 on the MT4 MT5 platforms, which is cheaper than trading with other similar market maker brokers. The trading account minimum deposit is similarly affordable, at USD 2500/EUR/GBP, placing it within most traders’ grasp.

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easyMarkets is a registered online licensed forex broker that offers Forex and CFD trading using its trading platform. Investors can also trade indices, stocks, commodities, precious metals, and cryptocurrency, among other asset types. Furthermore, its revolutionary business concept offers traders in Kenya a secure trading environment in the case of high-risk market volatility and worldwide economic crises.

easyMarkets Features
Regulated By CySEC, ASIC
Best For Best for Innovative Trading Tools
Year Founded 2001
Minimum Deposit $25 for Standard
Maximum Leverage 1:400 for Standard
Tradable Assets CFDs, Forex, Cryptos, Metals, Commodities, Currency Pairs, Indices, Shares

The Cyprus Securities and Exchange Commission (CySEC) regulates it in Europe, while the ASIC regulates it in the Asia Pacific Region. This Kenyan brokers is a fantastic platform for online trading due to its innovative trading tools, valuable research, average spread, instructional resources, low trading fees, freeze rate, detailed market analysis, micro lots trading,trading instruments, demo account, Islamic account, hedge funds, and excellent customer service. Thus making it accessible to market intermediaries However, one must be able to take advantage of these advantages.

easyMarkets - Top Forex Brokers in Kenya

The best online trading platforms in Kenya was formed in 2001 to make trading simple, accessible, and transparent for everyone. A modest minimum deposit of USD 25, a simplified proprietary trading platform, 24 hours service, and free SMS notifications make it easy for inexperienced Kenyan traders to get started in trading.

There is 1:400 max leverage (deposit max) offered in this platform as it allows you to deposit and conduct trading in multiple currencies at the same time. Corn, wheat, cotton, soybeans, sugar, coffee, and natural gas are among the commodities offered for easy FX trading with easyMarkets and trading signals.

However, get more unbiased information about the fx brokers platform from our genuine easyMarkets review, which is fully honest & well-researched.

  • No commission fees, demo account & Islamic account.
  • An easy-to-use trading platform with the currency pairs support, and 24 hours open.
  • CySEC, FSA, and ASIC all have strict CMA regulations in place.


  • The cryptocurrency that is a good selection is limited in numbers.

Fee Structure of easyMarkets

easyMarkets trading accounts fees start from 0.7 pips. The platform doesn’t charge any fees on the accounts. Also, new customers don’t have to pay any commissions or fees while depositing or withdrawing cash. However, if the account is unused, specific trading fees are imposed on the account when withdrawals occur.

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ThinkMarkets is a multi-asset broker located in Australia and the United Kingdom that was launched in 2010. It has two headquarters: one in Melbourne and another in London, and regional offices across Asia-Pacific, the Middle East, North Africa, Europe, and South America. Kenyan brokers keep its trading environment safe and guarantee that outstanding technology powers its core trading environment with up-to-date financial news, political news for new traders & more.

ThinkMarkets Features
Regulated By ASIC, FCA, FSCA
Best For Best for Users Safety & Security
Year Founded 2010
Minimum Deposit $500 (ThinkZero Account)
Maximum Leverage 500:1
Tradable Assets Forex, CFD, Cryptocurrencies, Currency Pairs, Commodities, Gold, Silver

ThinkMarkets is a fully licensed and well regulated broker in three jurisdictions. Multiple top tier regulators such as TF Global Markets (Australia), are governed by the ASIC, whereas TF Global Markets (UK) is authorized by the UK Financial Conduct Authority FCA (UK).

ThinkMarkets - Licenced Forex Brokers in Kenya

The platform is known for the safety, copy trading, and security that it provides to its users. Founded in 2010, ThinkMarkets today trades in over 35 currencies and ID. Its headquarters are in London and Australia.

ThinkMarkets safe broker allows you to begin trading in the exciting currency markets with no minimum investment for a Standard account and a $500 minimum deposit for a ThinkZero account. Trade with micro lots, mini lots, etc.

The leverage policy of the ThinkMarkets Company may differ depending on the account type of trading and the geographical area. The cryptocurrency can reach 1.5, the indices can reach 200:1, commodities can reach 200:1, and FX can reach 500:1. Kenyan Traders in Europe have till 30:1 p.m. to use their leverage along with a demo trading account.

ThinkMarkets is a forex & CFD broker. It deals in gold, silver, cryptocurrencies, 35 currency pairings, crypto trading, and other account commodities. The lowest trading size is 0.01, and the minimum live trading amount is $1. Although, find more about the platform in our ThinkMarkets review in detail to know about their services, financial instruments, live account, & more.

  • Narrow market spreads along with Islamic account.
  • A minimum deposit of $0 is required on the Standard account, and it’s 24 hours open.


  • Trading platforms frequently freeze.

Fee Structure of ThinkMarkets

ThinkMarkets generates most of its revenue from spreads and commissions, where it competes. The commission-free mark-up starts at 0 pips for think zero account. one of the most incredible deals accessible among all online brokers, while the industry average is 1.2 pips.

Raw spreads as low as 0 pips with an average of 0.1 pips for a fee of $3.50 per lot or $7.00 per lot will benefit active Kenyan traders as it also has micro lots trading support.

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ForexTime, often known as FXTM, has been a global CFD and Forex broker providing online trading since 2011. The Kenya CMA, the Financial Conduct Authority FCA in the United Kingdom, CySEC, and the FSCA regulate the broker (South Africa). We believe it is safe for every Kenyan resident since various top-tier regulators control it.

FXTM has the most popular trading platforms that are MetaTrader-based, with MetaTrader 4 and MetaTrader 5 available. It provides 57 currency pairs, CFDs on 173 single stock shares, 11 Indices, six metals, three energy futures, and three cryptocurrencies through seven different types of accounts in this ECN broker platform.

FXTM Features
Regulated By FCA, FSCA,
Best For Best for All-round Offerings
Year Founded 2011
Minimum Deposit $10 For Cent Account
Maximum Leverage 1:2000
Tradable Assets Metals, CFD Stocks, Indices, FX Indices, Currency Pairs, Commodities

FXTM (regulated brokers) is present in different regions and is regulated in Kenya by two top-tier regular regulators, the Financial Conduct Authority FCA and the FSCA (South Africa), apart from several other financial authorities.

FXTM is regulated and approved by the following authorities: Exinity Group, FXTM’s parent firm, is one of four Kenya forex brokers which requires a minimum capital for the company to obtain. CMA finance markets regulator is located in the capital Nairobi where the stock exchange takes place. Regulators like this make the platform safe for Kenyan residents.

Looking at the positives, the licensed forex broker has strong user support that is friendly and efficient, a free sample account, and a solid investor education area on its licensed website. It also offers a website available on various devices along with a demo trading account & Islamic account.

FXTM - CMA Licensed Forex Brokers in Kenya

Established in 2011, the FXTM brand is a global pioneer in online trading (Exinity group, which is in Exinity east Africa), delivering financial market possibilities to a global audience. With the Cent MetaTrader 4 account type, FXTM requires a minimum deposit of $10. Their minimum deposit for an ECN account is $500.

Like the Cent account, the Standard account has a floating/variable spread, adjustable leverage of up to 1:30, and hedging is permitted. Starting from metals to stock trading, CFD Stocks, Indices, FX Indices & Currency Pairs, Commodities, Stock Baskets, crypto trading, social trading, Contract Specifications, stock exchange, and advanced charting, you can create a solid portfolio in tradable assets. Get more insight about the platform in our FXTM review, where we have covered everything.

  • Customer service is excellent, 24 hours, and live chat is available.
  • Negative Trading Balance Protection is a feature that is accessible.
  • Account opening is a simple and quick process.
  • This regulated broker provides MT4 MT5 trading platforms for mobile, desktop, and online.


  • High trading fees.
  • In Kenya, there is no local phone number for assistance.

Fee Structure of FXTM

FXTM offers a 1.3 pip minimum spread for regular accounts and a 1.5 minimum for cent accounts. Spreads for standard and cent accounts are generally reasonable. ECN accounts, on the other hand, have narrower spreads; it doesn’t start from 0 pips but with a minimum of 0.1 pip and an average of 0.4 pip. Furthermore, the spread for each lot of EUR/USD is 0.1 pips, the standard Kenya forex cost has high trading fees.

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Comparison of Forex Brokers in Kenya

Forex Brokers Minimum Deposit Maximum Leverage Accepts KE Residents
Pepperstone AUD$200 1:400 for Africa right
FXPesa $5 1:400 right
Scope Markets $100 500:1 right
XM $5 1000:1 right
HFM $5 1:1000 right
IC Markets $200 1:500 right $100 1:300 right
easyMarkets $25 1:400 right
ThinkMarkets $500 500:1 right
FXTM $10 For Cent Account 1:2000 right

Is Forex Trading Legal in Kenya?

While forex appears to be legal on the surface, “there are many potential bad actors in the space, and it is a prime environment for spoofing, ghosting, and/or front-running”. Braden Perry, a regulatory and government investigations attorney with Kennyhertz Perry LLC in Kansas City, Missouri, has confirmed the same.

There has been much analysis done by experts on the same issue. Starting from its licensing to the broker’s CMA regulation, everything is a part of the discussion and analysis.

According to Perry, the development of internet-based trading platforms has further compounded the dangers by providing additional potential for fraudulent promotional schemes, overstatement of returns, and inability to pay up for victories. “Furthermore, certain actors are rigging the system using manipulative software.”

The fundamental problem with finance trading is a lack of transparency and opaque regulatory systems with inadequate control. However, certain forex items listed on exchanges are subject to regulatory control. Similarly, some genuine CMA forex brokers in Kenya do business in the market. Thus yes forex trading legal in Kenya & is supported by the Kenyan government, but you have to be careful when account opening with any of the best forex trading platform you choose.

How Do I Trade Forex in Kenya? The Right Way

Nowadays, opening a finance trading account is straightforward and can be done online. The forex broker will demand a customer put money into the different accounts as collateral before trading begins & one can begin forex trading in Kenya even the Kenyan clients.

CMA Regulated forex brokers in Kenya also give consumers leverage, allowing them to trade more sums than they have on deposit. Where the trader operates, leverage might range from 30 to 400 times the amount available in the trading account. Other African countries like Nigeria or South Africa also have a good leverage range, and stock exchange takes place.

Because of Kenya’s significant economic potential and demography, the list of licensed forex brokers in Kenya saw an opportunity in the nation to set up shop in Lagos and other Kenyan locations. If you’re new customers to trading, trading in Kenya is an excellent place to start. Stick to the six stages mentioned below:-

  1. Purchase a somewhat current internet-capable gadget, such as a smartphone, tablet, or PC.
  2. Find an online forex broker who welcomes Kenyan customers.
  3. To trade FX, open a margin account with that broker.
  4. Make a deposit using a payment method that the best fx broker accepts.
  5. Download the broker’s proprietary trading platform or another platform that works with that broker.
  6. This is how you successfully make your first trade.

Choosing The Best Forex Brokers in Kenya

Broker Regulation

The Capital Markets Authority CMA primarily regulates the forex market. However, the Central Bank of Kenya may create local regulation for the CMA to implement. As a result, while choosing a broker, it is critical to determine whether or not the CMA regulates it. Like many other African countries do the same as per their criteria.

Safety First

Trading in Kenya is risk-free as long as the CMA-regulated forex broker in Kenya follows the appropriate measures which make the forex market safe. In Kenya, the Capital Markets Authority CMA oversees online trading. Kenyan market participants must obtain a CMA license to safeguard the safety of Kenya forex broker in Kenya who employ the services of Kenya-based brokers, get licenses from the CMA office, compare forex brokers mentioned above, and choose the best despite the broker based region.

Support Kenyan Shilling

Kenya’s official currency is the Kenyan shilling (KES), denoted by the symbol KSh. Kenyan shillings are split into 100 smaller parts called cents. The Central Bank of Kenya issues and manages the currency (CBK). Because the CMA forex brokers in Kenya, it is necessary to confirm that it supports this currency.

Trading Fees 

Your broker will quote or provide you with two prices for each currency pair available on its online forex trading website: a price to purchase (the bid price) and a price to sell (the asking price). It is essential to examine the online forex trading costs of several CMA licensed forex popular brokers to obtain the lowest charge choice. The platform’s overall rating is excellent regarding the trading fees of any best forex brokers which can be done in Kenyan shilling also.

Trading Platform

As a trader investing in the Forex market, you should search for a CMA-regulated broker that provides a secure atmosphere and adequate trading circumstances without conflicts of interest. Selecting a CMA-regulated broker regulated by the Kenyan Regulator (CMA) or reputable foreign regulators like FCA, FSCA, CySEC, or ASIC is critical.

When it comes to transaction fees, the overall rating of the platform is also excellent and trustworthy among middle class Kenyans, so the stock exchange takes place easily. Different brokers have the same or slightly different regulators that provide foreign exchange. Despite that high degree of risk is always there if you go for a new broker, so be safe.

Good Customer Support by the Platforms

The platform provides excellent support to its beginners and users. From providing 24/7 assistance to resolving their queries and concerns to helping them get acquainted with the platform, the customer support team is always at your service as now days most forex market are open all day.

If you have any queries or concerns, you can also contact them through live chat support or write to them through email, as these online forex broker do their best to solve your query.

Pros and Cons of Forex Trading


Market Volatility a Trader’s Friend

The main currencies typically experience large price movements. High volatility may help you make much money if you arrange your transactions appropriately in the forex market.

Variety of Pairs to Trade

There are 28 main currency pairs, each of which involves eight significant currencies. Convenient timing, volatility patterns, or economic changes can all be used to select a pair. A forex trader who likes market volatility can readily flip between currency pairs.

Low Capital Requirements

One may begin trading with a modest amount of beginning cash because of the narrow pips spreads. It may be impossible to trade in other marketplaces (like equity, futures, or options). The availability of margin trading with a significant leverage factor (up to 50-to-1) is the cherry on top of FX deals. While trading on such high margins carries its hazards, it makes it simpler to achieve more profits potential with less cash.

Ease of Entry

There are dozens of technical indicators to rely on for short-term client’s trades, as well as various fundamental analytical theories and tools for long-term trading, providing Kenyan traders of varying levels of expertise with a wealth of options for making a quick entry into trading.


High Risk along with High Leverage

Forex trading is possible with high leverage levels, which means that the profit/loss risk is multiplied by the trading capital. FX markets provide leverage of 50:1, which means that a $1 investment can result in a $50 forex position. While leverage might help a trader, it also magnifies a loss in the forex market when trading CFDs with high leverage.

Without a solid understanding of leverage, an effective capital allocation strategy, and significant emotional control, trading may quickly become a loss-making nightmare.

You must also take investment advice from professionals because investing in currency pairs or trades that have high leverage is risky. If you can afford an expert, you must consider their investment advice before you process any deposit withdrawal fees on the website and start trading.

Self-Directed Learning

An intermediate trader in the stock market can seek professional help from portfolio managers, trade advisers, and relationship managers. The regulated best forex brokers in Kenya traders are entirely on their own, with little or no help. Throughout one’s trading career, disciplined and ongoing self-directed learning is required. Most beginners give up during the early phase, owing to losses incurred due to insufficient trading expertise and poor trading practices.

High Volatility

With little control over macroeconomic and geopolitical developments, it is all too easy to suffer massive losses in the highly unpredictable FX market. If anything goes wrong with a particular stock, shareholders can pressure management to make the necessary changes or seek authority. Forex dealers are at a loss about where to go. For example, when Iceland declared bankruptcy, forex dealers holding the Icelandic krona had no choice but to watch.

Because markets are open 24 hours a day, it is difficult to track foreign exchange’s (like stock exchange) pricing and volatility regularly. The ideal strategy is to use stringent stop losses on all forex transactions and to trade methodically using a well-planned strategy.

Conclusion on Forex Broker in Kenya

Trading may be hazardous even for experienced traders or individual traders, well-educated investors, and even Kenyan traders that come in either of them. If you are just starting, you must devote as much time as possible to learning about the basics of Forex and CFD trading and the dangers and methods involved.

Once you’ve mastered the fundamentals and methods, establish a demo account with a good broker of your choosing. Trade on the demo accounts until you have a decent strategy and the right methods that work and have been tried for at least 3-6 months.

Only once you are entirely comfortable can you begin investing real funds by implementing the right methods. Begin with a small amount of real money and just do foreign exchange trading micro lots.

Check the exchange rate, foreign exchange trading conditions, and other incorporated fees before you start trading. It also depends on how much research you have done, the risk warning, and other factors you have taken into account to understand how much profits you can make. Comply with all of the money management teachings.

FAQs (Frequently Asked Questions)

Which Forex Broker Is Legal in Kenya?

HFM is one of the best forex brokers in Kenya. Beware that you don’t start your automated trading in an unregulated broker platform. Check all the forex pairs, if the platform accepts an Islamic account, accepts Kenyan traders, and if the new local forex company is a CMA regulated FX company or not. Once you are thorough with all the details, start investing in the platform.

Can I Trade Forex in Kenya?

Trading is now legal in Kenya. The CMA of Kenya regulates it. Over 90,000+ forex traders are now trading in Kenya. So, yes, you can trade forex in Kenya.

Can I Do Forex Trading in Kenya Using Mpesa?

Many brokers support that & accept mpesa, and the forex traders in Kenya can trade it without worry.

Do Forex Traders Pay Tax in Kenya?

Kenyan traders should pay taxes when they are trading in Kenya.

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