Kenya Forex Trading
Forex Trading in Kenya has recently become popular among its residents. Kenya is considered to be one of the largest and most productive economies in Africa which results in emerging of Forex brokers and growth of Kenyan traders. It is still important to be well-informed about Forex trading in Kenya, regulations and requirements to know which brokers are safe to invest and trade with.
Regulations
The main regulatory body in Kenya is the Capital Markets Authority (CMA), formed in 1989 and responsible for supervising, licensing and monitoring Forex business in the country.
All the Forex brokers in Kenya are recommended to get licensed by the CMA. The CMA is a reliable and respected regulator that obeys the strict rules and guarantees investors protection. There is a downside though, the CMA does not have a compensation scheme for the traders.
In order to get more information on broker’s licensing or check the records in the regulators register, check the CMA Website.
🛡️Is It safe to trade | Yes |
🔒Negative Balance Protection | Yes |
💰Compensation Scheme | No |
Which Forex Broker is the Best in Kenya?
Firstly, a good broker is a licensed broker, not necessarily licensed by Kenya CMA, but also by any other well-respected authority that allows brokers to accept traders from Kenya. Secondly, the broker’s offer itself should have good trading conditions, proper education and support. Some of the best Forex brokers in Kenya are Pepperstone and HotForex.
Best Forex Brokers in Kenya
Our list of Brokers in Kenya consists of the Regulated brokers only, which are advised and safe to invest with, also defined according to the specified criteria.
- BDSwiss– Best Overall Broker in Kenya 2023
- Pepperstone – Lowest Spread Broker in Kenya 2023
- BlackBull Markets – Best MT4 Broker in Kenya 2023
- FP Markets – Best Broker for Beginners in Kenya 2023
- HotForex – Best for Scalping and EA Trading 2023
Kenya Forex Brokers List
These are the regulated brokers that accept clients from Kenya:
Broker | Detail | |
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Min. Deposit: 5 US$ Max. Leverage: 1:30 | 1:1000 Trading Platforms: MT4, MT5, HFM Trading App Regulation: CySEC, FCA, DFSA, FSCA, FSA, CMA |
1
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Min. Deposit: 0 US$ Max. Leverage: 1:500 Trading Platforms: MT4, MT5 Regulation: FMA, FSA |
2
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Min. Deposit: 100 US$ Max. Leverage: 1:30 Trading Platforms: IRESS, MT4, MT5, cTrader Regulation: ASIC, CySEC, St. Vincent and the Grenadines, FSP |
3
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Min. Deposit: 200 US$ Max. Leverage: 1:30 to 1:400 Trading Platforms: MT4, MT5, cTrader, TradingView Regulation: ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN |
4
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Min. Deposit: 100 US$ Max. Leverage: 1:500 Trading Platforms: MT4, MT5, BDSwiss Webtrader and App Regulation: FSC, FSA |
5
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Min. Deposit: $100 Max. Leverage: 1:200 Trading Platforms: MT4, MT5 Regulation: FSC |
FXChoice Review |
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Min. Deposit: 1 USD Max. Leverage: 1:3000 Trading Platforms: MT4, MT5, FBS trader Regulation: CySEC, FSC, FSCA, ASIC |
FBS Review |
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Min. Deposit: 100 US$ Max. Leverage: 1:500 Trading Platforms: MT4, MT5, TradingView Regulation: ASIC, SCB |
Eightcap Review |
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Min. Deposit: US$100 Max. Leverage: 1:500 Trading Platforms: MT4 Regulation: MFSC |
Orbex Review |
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Min. Deposit: No minimum deposit Max. Leverage: 1:30 | 1:500 Trading Platforms: MT4 Regulation: CySEC, SVG FSA |
FXCC Review |