There are some points that you must check in a broker before you choose them. Below is our points checklist that you can use an a guideline:. Regulated brokers can be held accountable for any bad practises like stop hunting, trading againt customers etc. But when you are trading with an unregulated broker there will be no Grievance Redressal in case the broker commits a fraud against you. There are 6 forex brokers regulated by CMA as of Feb. They normally update the list every month. For ex.

FXPesa is regulated for offering Forex Trading as Non-Dealing FX broker under License no. The above example is the Regulation and Client Protection document as FXPesa which highlights their company name, Company Registration No.

Some brokers may tell you that their spread is low, but may not tell the fact that they charge commission per trade or charge fees during withdrawals. Some forex brokers like FXTM charge withdrawal fees with some of their methods.

During our tests we found that their overall fees is quite competitive. They have competitive spread from 1. Also there is no inactivity fees. Ask your forex broker about their overall fees. Most brokers will have a spread comparison table on their website. Is the instrument that you want to trade available or not? For example, you might want to trade CFDs on NASDAQ Many other forex brokers like Exness, FXTM, Hotforex etc. offer wide range of trading instruments.

But if thee is some specific instrument that you want to trade, then always check first if that is available with the broker. Ensure that these methods are available at the forex broker you are choosing.

This below comparison table shows the average withdrawal time for different methods available at FxPesa. Similarly all other regulated brokers will have similar page on their website. But there are no extra charges for withdrawal in Bank account in Kenya, and Mobile Money like MPesa. It could be related to any issue from withdrawals, to general queries.

We tested it by contacting different brokers via various support channels. on their website. They are regulated with CMA, and they have have listed the Kenyan contact details on their website. or by sending an email. See how good the broker is in responding to your questions.

There are 4 CMA licensed brokers in Kenya currently. EGM Securities FXPesa is 1 in our list of recommended forex broker for Kenya. Scope Markets is a new Kenyan broker which stated its operations since May There are only a handful of forex brokers regulated by CMA, but traders in Kenya should only choose brokers regulated locally with CMA for safety of your funds.

Or choose any reputed foreign brokers like Hotforex, XM Forex which are regulated with top-tier regulators like FCA, ASIC, CySEC. What are the best forex trading platforms in Kenya? All the popular brokers like Hotforex , Forextime provide trading on these two platforms with additional support for WebTrader and mobile devices. Both these platforms have features of fundamental and technical analysis tools, copy trading and other additional features.

Online forex trading is legal in Kenya, and is regulated by Kenyan financial regulator CMA i. Capital Markets Authority CMA of Kenya. It was founded under Capital Markets Act There are 4 Forex Brokers in Kenya regulated by CMA as of December Forex Brokers New Zealand. Forex Brokers Australia. Forex Brokers UK. Forex Brokers USA. Forex Brokers Canada. Forex Brokers South Africa. Forex Brokers Kenya.

Other Countries. BrokerTested Awards Broker Comparison. XM vs IC Markets. XM vs Pepperstone. eToro vs Trading IC Markets vs Pepperstone. Trading vs Plus All comparisons.

B2B Directory Listing. Liquidity Provider. White Label Provider. Technology Provider. Platform Provider. Market Data. Copy Trading. Payment Provider. Turnkey Solution. Back Office Systems. License for Sale. Brokerage for Sale.

Other directories. About us. Best Forex Brokers Kenya Post author By George Rossi Post date June 17, No Comments on Best Forex Brokers Kenya CMA Regulation Kenyan Best FX Brokers Kenyan Brokers List Verify CMA Brokers Brokers accept M-Pesa ECN Brokers Kenya MT4 Brokers Kenya High Leverage Brokers Kenya Lowest Spread Broker Kenya. CMA-Licensed Forex Brokers in Kenya Forex brokers in Kenya are authorised by the Capital Markets Authority CMA to operate in Kenya.

Some of the key highlights of trading with CMA regulated brokers: 🏦Kenya Regulator Capital Markets Authority CMA 📊Max. Pepperstone — Best Overall Forex Broker in Kenya FXTM — Best Forex Trading Platform Kenya FXPesa — Best Forex Broker for Beginners in Kenya Scope Markets — Best MT4 Broker Kenya Best Overall Forex Broker in Kenya We picked Pepperstone as the overall best forex broker in Kenya. Best Forex Broker for Beginners in Kenya The best Forex broker for beginners is FXPesa due to its in-depth and sell-structured educational materials.

Best MT4 Broker Kenya The best MT4 broker in Kenya is Scope Markets, which offers the MT4 and MT5 trading platforms. When you sign up with AvaTrade you will get access to a wide range of trading platforms with access to algorithmic trading and social trading. Visit AvaTrade. First of all, you need to asses your current forex trading knowledge and most importantly your trading style!

More and more middle class people start with forex trading in Kenya. Therefore the local finance market cleanup from unscrupulous companies was inevitable. Capital Market Authority CMA is the state finance markets watchdog located in the capital Nairobi established in by Ministry of Finance. If anyone opens up a new local forex company, they must get the local license from CMA office. In order to obtain a CMA license a company must have a minimum capital of Sh50 million.

Maybe due to this, or given the fact that Kenyan market is relatively small, there are hardly any CMA regulated fx brokerages, but the situation is quite different when we compare to other African countries where market is more mature like South Africa or Nigeria where local people have much wider choice.

Recently in the CMA has cracked down on thousands of illegal forex companies in Kenya which is a good sign indeed. The most trusted regulatory agencies are british FCA, Cyprus CySEC and Australian ASIC. That being said, if you open a forex trading account with forex brokerage regulated by any of these agencies, there is a high chance that your money will be safe.

In this article we compare the best forex brokers in Kenya. Since the forex market in Kenya has been evolving quickly, Kenyan financial markets regulator will issue more licenses and we expect to test more forex brokers licensed by CMA Capital Markets Authority in future. During our test, we have compared trading platforms ease of use , speed of trade execution, local depositing methods including Kenyan Shillings and much much more.

Pepperstone is one of the best ultra low spread fx brokers on the market today. Pepperstone forex broker is regulated in multiple top tier countries for example United Kingdom, Germany and Australia.

Pepperstone is CMA regulated forex broker in Kenya. Peperstone offers competitive trading costs, fast trade execution, leading customer support, and other useful features. They will also give you the opportunity to educate yourself about the trading and provide you the trading tools like economic calendar, live webinars, video tutorials, etc. Visit Pepperstone. AvaTrade is an Irish brand founded in is regulated in multiple top tier financial watchdogs like Central Bank of Ireland, FSA Japan, FSCA South Africa, ASIC Australia.

AvaTrade is the best forex broker in Kenya. You can rest assured your money is safe since AvaTrade is considered safe and reliable forex broker trusted by thousands forex traders from all around the world.

When you sign up with AvaTrade you will get access to a wide range of trading platforms with access to algorithmic trading and social trading. Visit AvaTrade. First of all, you need to asses your current forex trading knowledge and most importantly your trading style! More and more middle class people start with forex trading in Kenya.

Therefore the local finance market cleanup from unscrupulous companies was inevitable. Capital Market Authority CMA is the state finance markets watchdog located in the capital Nairobi established in by Ministry of Finance. If anyone opens up a new local forex company, they must get the local license from CMA office.

In order to obtain a CMA license a company must have a minimum capital of Sh50 million. Maybe due to this, or given the fact that Kenyan market is relatively small, there are hardly any CMA regulated fx brokerages, but the situation is quite different when we compare to other African countries where market is more mature like South Africa or Nigeria where local people have much wider choice. Recently in the CMA has cracked down on thousands of illegal forex companies in Kenya which is a good sign indeed.

The most trusted regulatory agencies are british FCA, Cyprus CySEC and Australian ASIC. That being said, if you open a forex trading account with forex brokerage regulated by any of these agencies, there is a high chance that your money will be safe.

High quality Australian forex broker Pepperstone has recently obtained a CMA license and operates in the country under the name Pepperstone Markets Kenya Limited. It is the broker with the strongest reputation out of all four CMA licensed brokers. With offices around the world, ultra tight spreads on currency pairs starting at 0. Whether you are an intermediate trader or just a newbie you need to carefully inspect the fees structure, because that will make you or break you.

Depending on your budget and your own trading style, you can choose between Micro trading Micro Lots , Mini and Standard accounts for the most serious trading activity. If you are a newbie then we recommend you to start small with Micro or Mini if possible.

There are many CMA-licensed forex brokers to choose from. It is important to note that while Forex trading is legal, there are still some risks involved. Edward Kendy MBA is a CEO and the head of forex brokers research at BestOnlineForexBroker.

com with 17 years of experience in personal finance and veteran forex trader. See author's posts. Edward Kendy Edward Kendy MBA is a CEO and the head of forex brokers research at BestOnlineForexBroker.

Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Kenyan traders have to pay a commission on every CFD trade. Islamic Account. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. Impatience and inexperience are the two key reasons why many novices fail at forex trading.

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