Looking for a trusted Forex Brokers Kenya? Not sure which Kenya broker is best for you? Or need to verify if your broker is truly regulated and trusted broker?
We provide answers to all the questions in this article. We research and compare 4 forex brokers in Kenya and international brokers that accept Kenya clients including their regulation status, spread & commission, time for deposit & withdrawal and many more findings.
Licensed Forex Brokers in Kenya
In Kenya the licensing and overseeing of the Forex business is provided by Kenya regulatory body the Capital Markets Authority (CMA).
CMA Kenya recommends Brokers to obtain license before they accept Kenya residents as clients, but does not strictly demand to be licensed. Regulated broker that provides letter from the Regulator ad confirming its good standing can accept Kenya clients. Check Wikipedia CMA for its historical background.
Best Forex brokers in Kenya
To select the best Forex Broker we research and compare Forex Brokers Kenya with CMA license and those industry-known brokers that accept Kenya traders. We made a detailed review of spread and commission, trading platform, deposits and withdrawals conditions, education and customer service. Here is our List of Top Forex Brokers Review and Best Forex Brokers in the category:
- FXTM – Best Broker for Beginners in Kenya
- Forex.com – Best Swap-free Forex Broker in Kenya
- XM – Best Account conditions in Kenya
- AvaTrade – Best Trading Platform in Kenya
What makes a good forex broker in Kenya?
There are 4 points that make the broker a good Kenya Forex Broker – license, good reputation, trading conditions, education and research tools, and customer service.
- Licensed by Kenya CMA or other world-respected regulatory body (many well-regulated brokers accept Kenyan traders but are not licensed by CMA)
- Has good trading conditions with low spread, selection of various trading instruments and platforms
- Provide good-quality education with Webinars, trading videos and research
- Easy to reach Customer Support
Top 10 Forex brokers in Kenya List & Review
We compared and narrowed the List of Forex Trading Brokers in Kenya selected by highest ranked regulation, security and competitive trading conditions best suitable for Kenyan traders:
|Forex Broker||Accepts clients from Kenya||CMA Regulated||Why they are our top picks||Our Review|
|Pepperstone||Yes||Yes||Pepperstone might be the best fit if you are looking for the best overall forex broker in Kenya. Pepperstone offers good range of platforms also MT4 & MT5, research tools, low costs and quality education.||Visit Pepperstone site|
|FXTM||Yes||Yes||FXTM might be the best for scalpers and beginners. There is professional education section, spreads are good, and FXTM is among 9 brokers that offers ECN accounts.||Visit FXTM site|
|FXPesa (EGM Securities)||Yes||Yes||FXPesa might be one of the best for beginners in Kenya. FXPesa is providing the comprehensive online trading course and on-ground seminars. It gets beginners from A to Z.||Visit FXPesa site|
|Scope Markets||Yes||Yes||Want to open Investment Account or run EAs, Scope Markets can be the best for both. They offer various account and investment options and allowing EAs with no restrictions on MT5 platform.||Visit Scope Markets site Scope Markets Review|
|Plus500||Yes||No||Plus500 among the best for easy-to-use trading app. It has great range of instruments on CFD basis and customer-friendly trading software with technical analysis tools and price alerts.||Visit Plus500 site|
|Admiral Markets||Yes||No||Admiral Markets is one great if you look for a low spread broker. Admiral Markets EUR/USD avg spread at 0.6 which is 45% lower compared to other brokers with 1.1||Visit Admiral Markets site|
Admiral Markets review
|eToro||Yes||No||eToro might be the best for Social Trading. You can pick from thousands (not hundreds – thousands) of top traders and copy their trades. eToro is best for number top traders and transparency.||Visit eToro site|
|XM||Yes||Yes||Looking for low first deposit, XM might be the best. You can open account with only 5$ and get a deposit bonus, plus XM trading proposal is well-rounded.||Visit XM site XM Review|
|Forex.com||Yes||No||Forex.com has great offering for Islamic and Swap-free accounts. The trading conditions are well rounded and proposing good costs, education and choice of accounts.||Visit Forex.com site Forex.com Review|
More on Kenya Brokers
We recommend read detailed reviews for each of the brokers you interested in, also below we answer some common questions, you can also navigate categories and select brokers’ specified criteria.
Forex Brokers with mpesa in Nigeria
Mpesa or M-Pesa is a mobile money transfer service in Kenya that is provided by Vodafone Group and is a popular online payment options. One of the brokers that accept mpesa is HotForex.
Nigeria Forex brokers with low minimum deposit
Many from Best Forex Brokers Kenya offering low minimum deposits typically around 100$ or lower. XM offering minimum deposits from only 5$, but be sure to verify margin requirements for instrument you wish to trade.
1 pip fixed spread Forex Brokers Nigeria
Fixed spread is great for beginning traders or depending on your trading strategy. AvaTrade offering Fixed spread account from 1 pip fixed and is depending on instrument.
Nigeria Forex brokers offering No Deposit Bonus
No deposit bonus is a great start for Live trading without deposits done from traders side. Typically no deposit bonuses are small, check XM for No Deposit Bonus of 30$ for new clients.
Author of this review
By Jimmy O'Brien
Author of this review
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.
I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.