Kenya is one of the world’s most popular Forex trading destinations, with many brokers offering services to Kenyan investors.
However, not all brokerages are created equal, and choosing a broker regulated by a reputable body is important. The main regulator body for forex brokers in Kenya is the Capital Markets Authority of Kenya (CMA). This organization has strict requirements for Forex brokers operating in Kenya, and its approval is essential for any reputable brokerage.
This article will introduce the best regulated Forex brokers and some tips you should pay attention to while choosing the one.
Best Forex Brokers in Kenya
Kenya is home to a growing number of Forex brokers, and it can be difficult to know which one is the best for your needs. We have done some research and picked these as the Best Forex Brokers in Kenya:
HFM is a broker that offers 3500+ trading products, 5 account types, and 18 different trading tools. It also provides complete asset security for all needs through powerful trading platforms like MT4 and MT5.
The company offers high-quality customer support, which is important, especially for new traders. Beginners will feel absolutely confident when trading with HFM. It offers a demo account so that you can try trading with real money before you start. This is a great way to get to know the markets and how to trade.
Due to its high-standard criteria, HFM deservedly gets the title of best forex broker in 2022.
FXPesa is the trading name of EGM Securities Limited, which is authorized and regulated by the Capital Markets Authority. The platform offers trading accounts with only a $5 minimum deposit for our Executive account, a $100 minimum deposit for our Premiere account, and leverage up to 1:400 is available.
Scope Markets is a global provider of online trading services and institutional solutions. Scope Markets is regulated by the Capital Markets Authority of Kenya (CMA). The broker provides two different account types – the live trading One Account and the Risk-Free Demo trading account. The minimum deposit required to register a Scope Markets live trading account is $100/R1600 ZAR.
Exinity Limited is a Forex, CFDs, and stock investments brokerage firm in Kenya. The broker is regulated by the Capital Markets Authority of Kenya (CMA).
Exinity Limited has been in the online trading business for over two decades and serves clients from more than 150 countries worldwide.
Exinity, Alpari, and FXTM trading platforms all fall under the umbrella of the Exinity Group, which also owns the payment provider AcruPay. To date, the company has grown from a single MetaTrader broker in Limassol, Cyprus, to holding major offices worldwide.
Pepperstone is an online Forex and CFD Broker providing traders across the globe with cutting-edge technology to trade the world’s markets. The broker is CMA regulated Forex broker in Kenya. It offers the lowest spreads on major currency pairs.
The recommended minimum deposit to trade with Pepperstone is $200 or equivalent. However, clients are welcome to deposit less than this.
Based on our research, we selected HFM as the best Forex broker in Kenya. In this article, we introduced some important information and tips you should pay attention to, as choosing a regulated broker is the best way to ensure you get a fair deal when trading Forex in Kenya!