17/02/ · List of The Best CMA Licensed Forex Brokers 1. FxPesa – First CMA Licensed Forex Broker in Kenya Visit FXPesa >>> Trading under the brand name FXPesa, EGM 2. 20/07/ · There are six regulated and licensed forex brokers in Kenya. They are; Pepperstone, Scope Market Kenya, Exinity Group, EGM Securities Limited, HFM Under this license brokers can apply for Non-Dealing Forex Broker, Dealing Forex Broker and Online Forex Manager. CMA recommends all Kenyan Traders to only trade forex with CMA 17/06/ · Best Forex Brokers in Kenya with mpesa. The CMA-licensed Forex brokers that accept M-Pesa include Scope Markets, FXPesa, FXTM, and Pepperstone. Kenyan-based 20/08/ · Pepperstone is CMA regulated forex broker in Kenya. It is CMA licensed and therefore % secure online broker with a robust and stable forex trading platform that ... read more
The live chat is responsive when tried. Customer support is available for 24hrs every day and five days a week. Pepperstone Group was established in in Australia. In Kenya, the company is operating under the name Pepperstone Markets Kenya limited.
They are authorized by the Capital Markets Authority with license number Pepperstone offers two trading accounts; the Razor and Standard accounts. The spreads for both accounts are given below. Deposits and withdrawals can be made on Pepperstone through these methods; Bank transfer, Visa, Mastercard, MPesa, and PayPal. Withdrawals made by banks usually take 3 to 5 working days as processing time.
The account can be opened in USD or GBP as the base currency. The trading platform on Pepperstone are; MT4, MT5, cTrader, and Social trading platforms. These platforms are available for PC, web, and mobile devices. Pepperstone offers 62 currency pairs, CFDs on plus U. S shares, U. In total, the broker offers over CFD instruments to clients.
Pepperstone has three customer support options. The chatbox, email, and phone number. You can also visit them at their Kenya office. The replies on the chatbox are instant. However, it takes between 2 to 3 minutes to get a response from your transferred agent. The phone lines are available 24hrs daily and only 5 days per week.
For the email, it takes around 30 minutes for their email support to respond. However, it only acknowledged receipt of the complaint and not the issue. Exinity Capital East Africa is a company under which FXTM and Alpari International operate. This broker is registered with the Kenyan CMA with license number In Kenya, Exinity group operates as ForexTime FXTM.
FXTM offers three account types to clients. They are the Micro, Advantage, and Advantage plus accounts. The typical spread on FX majors on ForexTime begins from 1. The Advantage account has a commission of 0. FXTM also charges an inactivity fee for a dormant account over a six months period. FXTM uses the MT4 and MT5 trading platforms coupled with other trading tools. Deposits on FXTM are without charge, however, there are charges applied to withdrawals via some payment methods.
Deposits are processed instantly except in cases where there is a need for internal verification. The customer support options on FXTM are quite much. However, we tested the live chat and email. Replies on the chatbox were instant.
However, it only answered questions it was programmed to answer. It works more like a bot. The email we sent was answered in a few hours. The CMA acts in the best interest of forex traders. As an authority over forex brokers, they make sure financial services providers are set up to reduce the risk traders are exposed to.
In this section, we will be looking at the structures the FCA has put in place to protect you and your funds. The maximum leverage for retail traders is currency pairs. There are leverage restrictions for commodities, indices, and stocks too. The restriction ensures that you do not abuse leverage.
Leverage amplifies losses. Lower leverage ensures that traders are not exposed to damaging losses. This has good implications for forex traders. Any model with a conflict of interest is not allowed. That is, a broker should not stand to gain financially from the results of your trades except via normal trading fees. This means forex brokers in Kenya cannot have a dealing desk. This protects traders by ensuring that brokers cannot manipulate market prices for their own gain.
Pepperstone, Exintity, and EGM Securities are one of the brokers that are in compliance with this policy. To register with a regulated forex broker in Kenya, prospective traders should carefully follow the steps listed below. Step 1 The first and perhaps the most important step in signing up with a forex broker in Kenya is verifying the registration status of the said broker with the local Kenyan Capital Markets Authority CMA.
This action is necessary to check against the foreign unregulated online brokers who cajole Kenyans to trade with them from their safe haven. It is illegal to trade with an unregulated forex broker in Kenya. Aside from being illegal, trading with an unregulated broker exposes you to scams and inappropriate business practices from unregulated brokers. This is because there are no rules guiding the behavior of unregulated brokers.
Hence, trading with a regulated broker grants you protection from theft and inappropriate business practices.
So how do you know a forex broker is regulated in Kenya? Every CMA-regulated forex broker in Kenya has a unique license number. There are only six forex brokers who are regulated by the Kenyan CMA. Check the CMA website if your chosen broker is among the six. It is important you check to confirm the registration status of the broker with the CMA as some brokers can fake the registration and license without them actually being licensed by the CMA.
Step 2: Opening a trading account: In opening a trading account with FXPesa or any other Legal Forex Broker, you are expected to provide your contact details and further proof about your person Know Your Customer KYC verification and finally, the trading experience information.
For our Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50, words of published research. Each broker was graded on different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure.
Read about Trust Score here. As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than. Learn more about how we test. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks. Steven Hatzakis is the Global Director of Research for ForexBrokers. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry.
A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U. as a Commodity Trading Advisor CTA. John Bringans is the Senior Editor of ForexBrokers. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.
He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. com is committed to the highest ethical standards and reviews services independently.
Learn How We Make Money. Home Forex Guides Directory. Published January 10, Last modified August 17, Submit Details. Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers. John Bringans John Bringans is the Senior Editor of ForexBrokers.
Joey Shadeck Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers. star star star star star. Visit Site. Saxo Bank.
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Home » Broker » Forex Brokers by Country » 10 Best Forex Brokers in Kenya. The Top 10 Best Forex Brokers in Kenya revealed. 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?
27/06/ · With so many brokerage firms in the market, we look at some of the best CMA licensed forex brokers in Kenya. EGM Securities; EGM securities was the first to join the list of 20/08/ · Pepperstone is CMA regulated forex broker in Kenya. It is CMA licensed and therefore % secure online broker with a robust and stable forex trading platform that 17/02/ · List of The Best CMA Licensed Forex Brokers 1. FxPesa – First CMA Licensed Forex Broker in Kenya Visit FXPesa >>> Trading under the brand name FXPesa, EGM 2. Under this license brokers can apply for Non-Dealing Forex Broker, Dealing Forex Broker and Online Forex Manager. CMA recommends all Kenyan Traders to only trade forex with CMA 14/07/ · However, the best Forex brokers Kenya are licensed and regulated by some of the world’s leading regulatory bodies such as the Australian ASIC, Cyprus CySEC, and the 17/06/ · Best Forex Brokers in Kenya with mpesa. The CMA-licensed Forex brokers that accept M-Pesa include Scope Markets, FXPesa, FXTM, and Pepperstone. Kenyan-based ... read more
Learn to Trade Free Courses Menu. If anyone opens up a new local forex company, they must get the local license from CMA office. They have low fees and are regulated by other top tiers in regulation. Most forex brokers that accept MPesa offer instant funding or deposit within few hours, so you should check with the broker first on their deposit time. XM vs Pepperstone. For low spreads, traders can open open Zero account with which the spreads start from 0 pips. OPEN ACCOUNT.Cent Account Forex Brokers Micro Account Forex Brokers PAMM Account Forex Brokers Swap Free Account Brokers. Rated 6 of Recommended FX Brokers, licensed forex brokers in kenya. However, it takes between 2 to 3 minutes to get a response from your transferred agent. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers. There are 4 CMA licensed brokers in Kenya currently. In fact, trading with an unlicensed broker in Kenya is considered illegal.