List of licensed Forex Brokers in Kenya
Forex brokers in Kenya are regulated by the Capital Markets Authority (CMA). This means that each broker will have to comply with a set of regulations and requirements in order to be licensed.
These include conducting due diligence on their clients, as well as ensuring they protect client assets.
If you’re ready to trade Forex in Kenya, then look no further than the list below. These are the most reputable and trusted licensed Forex Brokers in Kenya.
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FXPesa
FXPesa is a fully regulated broker that has so far been ranked as the best online forex trading platform in Kenya, offering trustworthy securities for your invested funds.
It has a customer service that is available 24 hours a day, and the site is designed to accommodate both novice and experienced traders with a small investment of Ksh 500 ($5).
Withdrawals are instant with M-Pesa and are not deducted from current earnings.
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XM Trading
In terms of trading, XM offers instant order execution as well as negative balance protection.
In general, there are no withdrawal fees on this platform; however, bank withdrawals under Ksh 20,000 incur a fee of Ksh.1,500.
In XM, there is a ksh. 1500 maintenance fee for one year of account inactivity, followed by a Ksh 500 monthly fee if the account remains inactive.
There is no maintenance fee for active accounts, and the minimum trade deposit is Ksh 500, with instant withdrawals via ATM card, M-Pesa, or e-wallet.
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HotForex
This is one of the best beginner forex trading sites; it provides trading skills as well as a free funded demo account, allowing a trader to gain more experience with the platform and decide whether or not to continue with the same site;
If your withdrawal amount exceeds your initial deposit, you will be able to receive the difference via wire transfer. It is an award-winning commodities broker, offering trading services to both retail and institutional clients, with a minimum investment of Ksh. 500.
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Saxo bank
Buy, sell, exchange, and hold world currencies commission-free by opening an account with Saxo Bank Forex, which has a large number of tradable currency pairs and technology that works across all devices.
The platform has been in operation since 1992, and what keeps it going is the high tier-six jurisdiction, which makes it a safe broker with low risk for forex trading. With a minimum investment of ksh. 200,000 ($2000), Saxo Markets does not charge an inactivity fee.
Clients can gain access to multiple asset markets and use banking as a service from Saxo Bank. The platform’s user-friendly interface and personalized experience provide investors with everything they need to actively trade global markets.
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eTORO
eToro is a platform where traders can trade with confidence because it’s a reputable and well-known company with millions of users worldwide. eToro offers 100% stock with no commission fees, no matter how much you invest.
One thing to note about this platform is that the benefits of buying stocks do not stop with pricing and no limits on commission-free trades; you can also buy fractional shares.
Top-tier investors who use eToro as their trading broker site earn up to 2% per year on their assets under copy.
It has a Basic account that gives access to the demo account and eToro’s exclusive promotions, which are deals and savings sent to users via email, with a minimum investment of ksh.20,000 ($200) via bank transfer and at least $10,000 on cooper account as first time deposit.
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IQ option
IQ specializes and offers binary options, stocks, shares, currencies and ETFs trading
Accounts are available on demo, standard and VIP accounts. Lower minimum deposits, over 90 different types of underlying assets with 24/7 customer service support system. IQ option allows traders to take part in their online trading tournament which is an added bonus if you are feeling competitive.
They also provide their own educational learning center which turns into a variety of tutorial videos, if you are looking to expand your education prefer IQ option.
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Forex.com
It’s a one stop shop for forex traders providing a range for tradable currencies, low account minimums and impressive trading platform. It specializes through trading forex, stocks, commodities, indices and crypto currencies.
Accounts are provided on standard, commission and direct market accounts with lower forex bids access to their web and mobile platforms.
A variety of trading currencies and active trading program. Forex.com also offers its training system which deals with a wide variety of educational themes such as; risk taking, management, technical analysis, trading strategies, fundamental analysis, forex.com tutorials, Meta trader platform tutorial.
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Pepperstone
It’s an online fully regulated financial broker. Pepperstone trades through forex, commodities and crypto currencies.
The platform accommodates various levels of traders both beginners and experienced traders. Featured platforms for live accounts are available on metatrader 4, metatrader 5 platforms which are supported by windows and IOS operating systems.
Their accounts feature standard and razor 0. 0 accounts with up to ten base currency options, lower leverage, and lower minimum account opening balance.
This site provides their very own market news and analysis panels and variety of hopeful trading guides and courses, as well as their own beginner guides.
