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Best Forex Brokers in Kenya 2022: 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. A forex broker Kenya is sometimes known as a currency trading broker or a retail forex broker.

Trading FX (currency) is popular among Kenyans. While it is encouraged, regulated forex brokers in Kenya do not need authorization from the CMA to accept Kenyan people as users unless they are headquartered in Kenya. Those retail currency CMA licensed forex brokers 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.

About Forex Brokers in Kenya

The Capital Markets Authority (CMA) licenses Kenyan forex brokers regulated to operate in Australia. CMA licensed forex brokers can operate in Kenya. The CMA’s authorized website is www.CMA.or.ke. We recommend that investors and 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 with stringent laws to safeguard stakeholders and traders in Kenya. Given that 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 CMA does not have a maximum leverage cap for licensed forex brokers in Kenya, with some brokers offering up to 400:1 leverage on Forex trading. The disadvantage is that there is no deposit protection plan in place if a best forex broker in Kenya 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. HotForex:- Best for Extra Tools & Knowledge to Assist
  6. IC Markets:- Best for User Experience
  7. Markets.com:- 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

Below are the list of top & regulated forex brokers in kenya with their brief information, so that the users can opt the most preferable one for them:-

Pepperstone

Pepperstone is a forex broker based in Australia that also offers CFDs. The forex brokerage was founded in 2010 and in 2015, it launched a London branch to better serve its European clients. Following Brexit, new EU clients will be handled by their German and Cyprus businesses.

Pepperstone is regarded as safe since it is regulated by three top-tier financial authorities and other forex brokerage regulatory authorities, namely, the Financial Conduct Authority (FCA) of the United Kingdom, the BaFin of Germany, and the Australian Securities and Investments Commission (ASIC). This is one of the best CMA-regulated FX brokerages in Kenya. The overall ratings amongst the Kenya forex brokers are top class. You can go through the complete list of ratings to understand if you should invest your funds in this platform or not.

Pepperstone Features
Regulated By FCA, ASIC, DFSA
Best For Best for Trading Forex & CFDs
Year Founded 2010
Minimum Deposit $200
Maximum Leverage 30:1
Tradable Assets Forex, CFDs, Commodities, Gold, Platinum, Palladium, Silver

Pepperstone, founded in 2010, it is regulated in two tier-1 jurisdictions, making it a safe (low-risk) broker for trading forex and CFDs. Pepperstone provides both the platforms MetaTrader 4 and cTrader platform suites to algorithmic best forex brokers and copy forex brokers.

Pepperstone - Best Forex Broker in Kenya

Pepperstone, which was founded in 2010, is regulated in two tier-1 jurisdictions, which makes it a safe (low-risk) broker for trading forex and CFDs. Pepperstone provides both the platforms MetaTrader 4 and cTrader platform suites to algorithmic forex brokers and copy forex brokers. Owen Kerr and Joe Davenport established Pepperstone in 2010.

The minimum deposit amount at Pepperstone is 200 dollars for any account type. Pepperstone provides 30:1 leverage for trading, which is considered to be the highest degree of leverage offered by any ASIC-regulated best broker for forex. It also provides a high level of leverage on other CFDs such as stocks, indices, commodities, and cryptocurrencies. Pepperstone provides 30:1 leverage along with minimal competitive spreads and sophisticated tools.

Coffee, orange juice, cotton, cocoa, and sugar are examples of trade commodities. Gold, platinum, palladium, and silver can also be traded at inexpensive prices without any commission. The asset classes are quite favorable to many traders in Kenya. Buyers can also use the mobile app to buy tradable assets as per CMA regulations. Although, know more about the platform in detail to explore all the services.

Pros and Cons of Pepperstone

Pros Cons

Fee Structure

Pepperstone’s trading costs are reasonable. Trading-related fees are levied in the form of commissions and spreads. The fees vary according to the trading platform. The known round turn commissions per lot, i.e. the fee for starting and closing a $100,000 trade, are as follows:-

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

FXPesa – EGM Securities

FXPesa is a prominent forex and CFD trading website for Kenyan retail forex brokers that was 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) broker that offers Electronic Communications Network (ECN) execution of Forex and CFD trades and is authorized by Kenya’s Capital Market Authority (CMA).

Since the CMA regulates their parent broker’s firm and is a well-known FX trading platform in Kenya, FX Pesa is safe for Kenyan forex brokers. The Kenyan market execution on this platform is also quite interesting to observe.

FXPesa Features
Regulated By CMA
Best For Best for Kenyan Consumers
Year Founded 2019
Minimum Deposit $5 (Executive Account)
$100 (Premiere Account)
Maximum Leverage 400:1 (Major & Minor FX Pairs)
200:1 (Indices)
Tradable Assets Currencies, Indices, Commodities, US Shares, UK Shares, EU Shares

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



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