Compare forex brokers for traders in Kenya

By the Rateweb editorial team · How we rate · Product details checked 2 Aug 2026

Kenya is one of the few African countries that LICENSES online forex brokers locally — the Capital Markets Authority (CMA) regulates them under the 2017 Online Foreign Exchange Trading Regulations, so there is an official register to check. Prefer a CMA-licensed broker: you get a broker answerable to a Kenyan regulator, local dispute resolution, and shilling/M-Pesa funding. Note the licence CATEGORY too — a "non-dealing" broker passes your orders to the market, while a "dealing" broker may take the other side of your trade. Verify the exact entity on licensees.cma.or.ke before funding. Forex and CFD trading is high-risk — most retail traders lose money, and a licence regulates conduct, not outcomes. Rateweb may earn a commission from XM if you open an account through our link; it never affects our rating or where a broker appears — see our advertising disclosure.

🧮 Working out position sizes? Try XM's free forex calculators — pip value, margin and swaps. Sponsored; CFDs are high-risk.

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5 results
CMA-licensed locally

FXPesa (EGM Securities)

Kenya's first locally licensed online forex broker — EGM Securities holds CMA licence No. 107. Non-dealing licence (it passes your orders to the market rather than taking the other side). MT4/MT5, M-Pesa funding in shillings, low entry point, local support.
★★★★☆
4.3/5 · How we rate
CMA licence No. 107 (EGM Securities) — verify on licensees.cma.or.ke
Regulation
MetaTrader 4 / MetaTrader 5
Platforms
M-Pesa in shillings; low minimum deposit
Funding
Yes — a Kenyan regulator and local dispute resolution
Local Recourse
standard
Account
Pros
  • Locally CMA-licensed — the strongest position for a KE trader
  • M-Pesa deposits/withdrawals in shillings
  • MT4/MT5, low entry
Cons
  • Forex/CFDs are high-risk regardless of broker
  • High leverage magnifies losses
  • A licence protects conduct, not from losses
Visit FXPesa (EGM Securities) Full details & review →
CMA-licensed locally

XM (TPXMGLOBAL Kenya)

The global broker's Kenyan arm: TPXMGLOBAL Kenya Limited is a locally incorporated company on the CMA register, based in Westlands, Nairobi. MT4/MT5, a low published minimum deposit and extensive free education — with local regulation rather than an offshore entity.
★★★★☆
4.2/5 · How we rate
CMA-licensed (TPXMGLOBAL Kenya Limited) — verify on licensees.cma.or.ke
Regulation
Dealing online FX broker — may take the other side of your trade
Licence Category
MetaTrader 4 / MetaTrader 5
Platforms
Low published minimum — confirm in the cashier before funding
Minimum Deposit
Nairobi office (Delta Corner, Westlands); Kenyan site xm.ke
Local Presence
Pros
  • Locally incorporated and CMA-licensed, not offshore
  • Large global operator with MT4/MT5
  • Low entry point and strong free education
Cons
  • Licensed as a DEALING broker — it may take the other side of your trade
  • High-risk product: most retail CFD traders lose money
  • Leverage magnifies losses as well as gains
Visit XM Full details & review →

Scope Markets Kenya

A CMA-licensed online forex broker (SCFM Limited) offering MT4/MT5 and local funding — verify the current licence on the CMA register before you deposit.
★★★★☆
4.0/5 · How we rate
CMA-licensed (SCFM Limited) — verify on licensees.cma.or.ke
Regulation
MetaTrader 4 / MetaTrader 5
Platforms
Local funding options incl. M-Pesa
Funding
Yes — CMA-regulated
Local Recourse
standard
Account
Pros
  • CMA-licensed locally
  • MT4/MT5 and local funding
  • Regional presence
Cons
  • High-risk product
  • Confirm current licence status
  • Leverage cuts both ways
Visit Scope Markets Kenya Full details & review →

Pepperstone Markets Kenya

The Kenyan entity of a large global broker, CMA-licensed locally — a well-regarded platform choice for traders who want a big-name broker under local regulation.
★★★★☆
4.0/5 · How we rate
CMA-licensed (Pepperstone Markets Kenya) — verify on licensees.cma.or.ke
Regulation
MetaTrader 4 / MetaTrader 5 (and others)
Platforms
Local funding options
Funding
Yes — CMA-regulated
Local Recourse
standard
Account
Pros
  • Global name under a local CMA licence
  • Strong platform line-up
  • Locally regulated recourse
Cons
  • High-risk CFDs
  • Verify the current licence
  • Most retail traders lose money
Visit Pepperstone Markets Kenya Full details & review →

HFM (HF Markets Kenya)

The Kenyan arm of HF Markets, CMA-licensed locally, offering MT4/MT5 and shilling funding. As always, verify the licence and treat the product as high-risk.
★★★★☆
3.9/5 · How we rate
CMA-licensed (HFM Investments) — verify on licensees.cma.or.ke
Regulation
MetaTrader 4 / MetaTrader 5
Platforms
Local funding incl. M-Pesa
Funding
Yes — CMA-regulated
Local Recourse
standard
Account
Pros
  • CMA-licensed locally
  • Established global brand
  • M-Pesa funding
Cons
  • High-risk product
  • Confirm licence status
  • Leverage magnifies losses
Visit HFM (HF Markets Kenya) Full details & review →

Ratings are Rateweb's editorial opinion. Product details can change — always confirm with the provider before applying. Rateweb may earn a commission on some applications. This is general information, not financial advice.

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