Trading forex (currencies) in Kenya is popular among residents. While recommended, forex brokers are not required to become authorised by the Capital Markets Authority (CMA) to accept residents of Kenya as customers, unless based in Kenya.
The Capital Markets Authority is the financial regulatory body in Kenya. Website: https://www.cma.or.ke/. We also recommend that residents of Kenya follow the CMA on Twitter: https://twitter.com/cmakenya. The CMA was established in 1989 and is responsible for supervising, licensing, and monitoring the activities of market intermediaries. For a historical breakdown, here’s a link to the Capital Markets Authority webpage on Wikipedia.
Here is a list of the best forex brokers in Kenya
Scope Markets
Location: Westside Towers, 4th floor Lower Kabete Rd, Nairobi
Phone: +254 71903 4401
Pepperstone Markets Kenya Ltd
Location: The Oval, 2nd Floor Ring Road, Nairobi
Phone:020 3893547
EGM Securities
Location: 12th Floor, Tower 2 Delta Corner Towers Delta Corner Rd, Waiyaki Way, Nairobi
Phone: +254 730 676 004
HFM Kenya
Location: The Oval Building, Corner of Jalaram Road/Ring Road Westlands 5th floor, Office 2-7
Phone: 020 3894292
FXTM
Location: West End Towers, Waiyaki Way, 6th Floor, Nairobi
Phone: +254 207 640 415
XM Forex
Forex, cfd trading on stocks, stock indices, oil and gold on MT4 and MT5. Trade forex online with XM™, a licensed forex broker.
IG
Founded in 1974, IG is publicly traded (LON: IGG) and regulated in six tier-1 jurisdictions, making it a safe broker (low-risk) for forex and CFDs trading. IG ranks as the most trusted broker for forex and CFDs in our 2022 Review. IG is the ultimate forex broker, finishing 1st Overall in our 2022 ranking.
Saxo Bank
Saxo Bank is a Danish investment bank specializing in online trading and investment. It was founded as a brokerage firm in 1992, under the name Midas Fondsmæglerselskab, by Lars Seier Christensen, Kim Fournais, and Marc Hauschildt. The name was changed to Saxo when the company obtained a banking license in 2001.
Interactive Brokers
Interactive Brokers LLC is an American multinational brokerage firm. It operates the largest electronic trading platform in the U.S. by number of daily average revenue trades. The company brokers stocks, options, futures, EFPs, futures options, forex, bonds, funds, and some cryptocurrencies.
FOREX.com
FOREX.com offers forex and CFD trading with award winning trading platforms, tight spreads, quality executions and 24 hour live support.
FreshForex – Using Local Depositors
Local depositor is a payment agent (person or a company) who handles the funds of the client of the company to transfers them to or withdraw from clients trading accounts. Local depositor takes full responsibility for deposits and withdrawals via this method. The Company is not accountable for these transactions.
XTB
A global leader in FX and CFD trading, providing access to over 2100 financial markets including FX, indices, shares, commodities and more.
AvaTrade
The Best Online Forex Trading Experience! Trade Forex, Stocks, Commodities, Cryptos & Stock Market Indices with AvaTrade’s ✓ Award Winning Platforms.
Capital.com
In addition to being regulated by several top-tier authorities worldwide, Capital.com’s real value proposition lies in its low fees for trading forex and stock CFDs. We were impressed by the fast and seamless account opening at Capital.com, which we rated as one of the best in the industry.
HotForex
Hotforex is not a scam. Hotforex (HF Markets Ltd.) is regulated by market watchdogs like Financial Conduct Authority in the UK, Cysec and South Africa FSCA. Hotforex is a trusted brand with an outstanding reputation
LiteFinance
LiteFinance Global LLC is incorporated in St. Vincent & the Grenadines as a Limited Liability Company with registration number 931 LLC 2021.
FxPesa
EGM Securities Limited is the owner of the registered trademark ‘FXPesa’. EGM Securities Limited is licensed and regulated by the Capital Markets Authority of the Republic of Kenya under license number 107.
CMTrading
CM Trading’s parent company, Blackstone Marketing SA, has been regulated by the FSCA (License Number 38782) since 2009 and CM Trading has been an active CFD broker since 2012.
