Forex Brokers Kenya 

Online trading forex in Kenya is becoming increasingly popular. Obviously you do want to trade with a forex broker, which is regulated, however it is not a must for a broker to be regulated by the Capital Markets Authority (CMA), which is the financial regulatory body in Kenya,  in order to accept clients from Kenya. 

Apart from CMA regulation, you might come across other well-known and highly respected regulatory bodies such as FCA UK, CySEC in Cyprus, ASIC in Australia. All of these agencies apply strict rules and regulation standards upon brokers to keep fraud at bay. So if you sign up with a forex brokerage regulated by any of these agencies, you minimize your exposure to fraud and your money will be safe.

Best Forex Brokers Kenya

How to select the best forex broker in Kenya in 2023? Our team has worked hard to compare and test all sorts of online brokers an create a list of brokers which accept new traders from Kenya. Below you can find our complete and comprehensive guide and reviews of the top picks based on the regulation, security, platform, spreads, overall features and terms, customer service, payment methods and more.

Kenya Forex Brokers Comparison

Compare Forex Brokers
BrokerMin DepositPlatformsPaymentsLeverageRegulation
eToro1http://partners.etoro.com/A11108_TClick.aspx2002-https://www.forexexplore.com/forex-brokers/etoro-revieweToro PlatformnoyesCredit Cards, Debit Cards, Paypal, Neteller, Skrill, Webmoney, Wire Transfer1:30; 1:1 for Crypto CurrenciesEnglish, Spanish, Italian, Portuguese, Russian, Chinese, Arabic, GermannoyesCySec, NFAyesyes101000
AGEA0https://www.forexexplore.com/forex-brokers/agea-reviews13$5 no-deposit bonushttps://www.forexexplore.com/forex-brokers/agea-reviewsStreamster, MetaTrader 4yesyesCredit Cards, Wire, Skrill, Webmoney, e-Dinar, Neteller, FasaPay, Perfect Money1:500Englishnoyes101001
AvaTrade7http://www.avatrade.com/?tag=15741001100% yeshttps://www.forexexplore.com/forex-brokers/avatrade-reviewAvaTrader, MetaTrader 4, MetaTrader Floating Spread, Mac Trading, Web Trading, Mobile Trading, Automatic Trading, AvaOptionsyesyesCredit Cards, Debit Cards, Skrill, Wire Transfer, PayPal, Neteller, WebMoney1:400English, Chinese, Arabic, Spanish, French, Italian, Portuguese, German, IndonesiannoyesCentral Bank of Ireland, ASIC, Financial Services Commission of British Virgin Islandnoyesnoyesyesyes101011
CMCMarkets2https://www.forexexplore.com/forex-brokers/cmc-markets-review10.7-https://www.forexexplore.com/forex-brokers/cmc-markets-reviewNext Generation web-basedyesnoCredit cards, Wire Transfer500:1English, Chinese, French, Spanish, GermannonoFCAnonono100001
Tifia1https://tifia.com/102.5https://www.forexexplore.com/forex-brokers/tifia-reviewMetatrader 4, webtraderyesyeswire transfer, credit cards, skrill, neteller, perfect money, fasapay, okpay1:1,000noyesVanuatu Financial Services Commission VFSCyesyesnoyes110001
LiteFinance8https://www.litefinance.com/?uid=90000284110330% + 15%yeshttps://www.forexexplore.com/forex-brokers/liteforex-reviewMetatrader 4, Metatrader 5, WebTerminalyesyes Skrill, Webmoney, Bitcoin, Advcash, Credit Card1:500English, Russian, Chinese, Malaysian, German, Arabic, Partugese, Spanish, French, Hebrew, Japanese, Greek noyesCySEC, Marshal Islands Business Corporation Act.yesnoyesyesyesyesyesyesyes111001
InstaForex7https://www.instaforex.com/?x=JR10.6$100 No Deposit Bonusyeshttps://www.forexexplore.com/forex-brokers/instaforex-reviewMetaTrader 4, Metatrader 5, WebtraderyesyesSome local Bank transfers, PayCo, AstroPay, Cryptocurrency1:1,000English, RussianyesyesRAFMMyesyesyesyes111001
Dukascopy4https://www.forexexplore.com/forex-brokers/dukascopy-reviews2500.5-yeshttps://www.forexexplore.com/forex-brokers/dukascopy-reviewsDukascopyyesyesWire, Bank Guarantee, Standby letter of Credit Segregated Accounts1:500English, French, German, Russian, Spanish, Chinese, Japanese, ArabicKPMG ARIFyes110101
RealTrade1http://realtrader.org/203 30% welcome bonushttps://www.forexexplore.com/forex-brokers/realtrade-reviewsMetaTrader 4noyesCredit Cards, WebMoney, and Wire Transfer1:500English, Russiannononononoyes000001
FxPro5https://www.forexexplore.com/forex-brokers/fxpro-review1000.5up to $1,000yeshttps://www.forexexplore.com/forex-brokers/fxpro-reviewFxPro cTrader, FxPro cTrader Web, MT4 Client Terminal, MT4 MultiTerminal, MT4 WebTrader, MT4 Premium yesyesCredit/Debit Card, Bank Wire, PayPal, Neteller, Skrill 1:500Arabic, Chinese, English, French, German, Greek, Hungarian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish and Vietnamese nonoFCA, CySECyesyesnoyes101011
FXOpen1https://www.fxopen.com/12$100https://www.forexexplore.com/forex-brokers/fxopen-reviewsMetaTrader 4noyesWire, WebMoney, AlertPay, CashU, c-gold, PerfectMoney1:500EnglishnonoASIC, FCA UK, Financial Dispute Resolution Schemeyesyesnoyesyes111001
PrimeXBT4https://go.primexbt.com/click?pid=2298&offer_id=121https://www.forexexplore.com/forex-brokers/primexbt-reviewPrimeXBT, TurboyesnoCredit Cards1:1000yesASICyesyesyesyes000001
ActivTrades2https://www.forexexplore.com/forex-brokers/activtrades-reviews1002https://www.forexexplore.com/forex-brokers/activtrades-reviewsMetatrader 4, ActivtraderyesyesCredit Card, Wire transfer, neteller, skrill, sofort1:400English, German, Spanish, Italian, French, PortuguesenonoFCA100001
House of Borse1https://www.forexexplore.com/forex-brokers/house-of-borse-review500000.8https://www.forexexplore.com/forex-brokers/house-of-borse-reviewMetaTrader 4noyescredit cards, wire transfer1:100nonoFCA UKyesyesyes100000
FXDD3http://www.fxdd.com/1002-https://www.forexexplore.com/forex-brokers/fxdd-reviewsMetaTrader4, FXDD Trader, Power Trader, FXDD Auto, MTXtremenoyesWire, PayPal, Check, BPS 1:200English, Chinese, Japanese, Russian, Spanish, Portuguese, German, French, Turkish, Arabic, VietnameseyesMalta Financial Services Authority (MFSA)yes111000
FXCM5https://www.forexexplore.com/forex-brokers/fxcm-review2502-yeshttps://www.forexexplore.com/forex-brokers/fxcm-reviewTrading Station II, MetaTrader 4, Active Trader, Forex System Selector noyesCredit/Debit card, Online Check, Bank Wire, Paper Check1:200Spanish, French, Chinese, Russian, Portuguese, German, Italian, ArabicyesUK Financial Conduct Authority, AFSL yesyesyesyes101000
Hotforex2https://www.forexexplore.com/forex-brokers/hotforex-review52100% bonushttps://www.forexexplore.com/forex-brokers/hotforex-reviewMetatrader 4, mobile platform, rapid trader fix/apiyesyescredit cards, skrill, Unionpay, neteller, wire transfer, webmoney, fasapay1:1,000nonoyesnoyes001001
Oanda3https://www.forexexplore.com/forex-brokers/oanda-reviews11.4https://www.forexexplore.com/forex-brokers/oanda-reviewsMetatrader 4, FXtradeyesyescheck, Credit cards, PayPal, Wire transfer1:50English, Chinese, German, Spanish, French, Italian, Portuguese and RussianyesnoNFAnononoyesyes100000
Saxo Bank2http://www.saxobank.com50002 n/ahttps://www.forexexplore.com/forex-brokers/saxobank-reviewsSaxoTradernoyesWire1:100English, Belgium, German, French, Spanish, Italian, Arabic, Romanian, Russian, PolishDanish Financial Services Authority and operates in the UAE100000
Forex.com4http://www.forex.com/502-https://www.forexexplore.com/forex-brokers/forex-reviewsForexTrader platform (in-house), MetaTrader 4yesyeswire transfer, Credit/Debit Card, Check1:200English, Russian, Japanese, Arabic, Turkish, German, Chinese, Albanian, Thai, Italian, Hebrew, GreekyesnoCFTC, NFA, FCA (UK), ASIC (Australia), ILLROC (Canada), SFC (Hong Kong), FFAJ (Japan)yesyesnoyes100000
HYCM4https://www.forexexplore.com/forex-brokers/hycm-reviews100225% up to $5,000https://www.forexexplore.com/forex-brokers/hycm-reviewsMetatrader 4nonocredit cards, wire transfer, Skrill, webmoney1:400English, Chinese, ArabicnonoFCA UK, CySEC, SFCnononoyes100011
AdmiralMarkets1https://www.forexexplore.com/forex-brokers/admiralmarkets-reviews103n/ahttps://www.forexexplore.com/forex-brokers/admiralmarkets-reviewsMetaTrader 4noyesWire1:200English, Spanish, Russian, Lithuanian, Romanian, Latvian, Bulgarian, Greek, Croatian, Polish, Hungarian, Czech, Italian, Estonian, German, Finnish, Portuguese001000
Alpari2https://www.forexexplore.com/forex-brokers/alpari-review1250% Welcomehttps://www.forexexplore.com/forex-brokers/alpari-reviewMetaTrader 4noyesDebit or Credit Card, Wire Transfer1:500English, Chinese, German, and Arabicyesyes011001
FinPro Trading2https://www.forexexplore.com/forex-brokers/finpro-trading-review50.07100%https://www.forexexplore.com/forex-brokers/finpro-trading-reviewMetatrader 4, zulutrade, Finopro stationyesyescredit cards, paypal, skrill, wire transfer1:200Englishnoyesnoyesyesyes010000
Fort Financial Services1https://www.fortfs.com53https://www.forexexplore.com/forex-brokers/fort-financial-reviewsMetaTrader 4, CQG, Ninja trader, binary optionsyesyesCredit cards, webmoney, Skrill, Neteller, perfect money, fasapay, wire transfer1:1,000EnglishnonoIFSCyesyesnoyes110001
Blackwell Global2https://www.forexexplore.com/forex-brokers/blackwell-global-review20003-https://www.forexexplore.com/forex-brokers/blackwell-global-reviewMetaTrader 4, Blackwell Pro, Mobileyesyesredit/debit cards, Neteller, Skrill, Wire transfer1:200Arabic, Chinese, English, Greek, Italian, Korean, French, RomanianFinancial Conduct Authority101000
AAAfx2https://www.aaafx.com/3000.2up to 30%https://www.forexexplore.com/forex-brokers/aaafx-reviewsZTP, MetaTrader 4, Binary options webtrader, ZulutradeyesyesWire, Credit Card, Skrill, Neteller, giropay, EPS, directpay24, teleingreso, ideal, qiwi, Bitcoin1:200Arabic, Chinese, English, French, German, Greek, Italian, Japanese, RussiannoyesHCMC (Greece)yes100000
XTB2https://www.xtb.com2502https://www.forexexplore.com/forex-brokers/xtb-reviewsMetatrader 4, xStation, xMobileyesyesCredit cards, Neteller, Paypal, Skrill, Wire transfer1:200nonoCNMV (Spain), FCA (UK), FSA (Poland)yesyesnoyes100000
iFOREX3https://www.forexexplore.com/forex-brokers/iforex-reviews1003-https://www.forexexplore.com/forex-brokers/iforex-reviewsFXnet Traderyesyescredit cards, wire transfer1:400English, Hebrew, Indonesian, German, Spanish, French, Italian, Nederlands, Portuguese, Romanian, Turkish, RUssian, Arabic, Chinese, JapanesenonoHFSA in Hungary, CySECnonono101001
Oinvest0https://kc-welcome.lp-oinvest.co.za/r?hash=_WkFLpV2000.7Samsung Galaxy, iPhonenohttps://www.forexexplore.com/forex-brokers/oinvest-reviewMetatrader 4yesyesSkrill, Neteller, Credit Cards 1:200noyesyesyesyesyesyesyesyesyesyesyes111000
Plus5005https://www.forexexplore.com/forex-brokers/plus500-reviews500230%yeshttps://www.forexexplore.com/forex-brokers/plus500-reviewsPlus500yesnoSkrill, Credit Cards, Wire Transfer1:200English, Hebrew, ArabicIsrael Securities Authority100010
TraderTrust1http://traders-trust.com/100as low as 2100% upto $5,000https://www.forexexplore.com/forex-brokers/tradertrust-reviewsSmartForexnoyesSkrill, Credit Cards1:200English, Russian, Italian, and ArabicCySec, VFCSyes100000
AdvancedMarkets3https://www.forexexplore.com/forex-brokers/advancedmarkets-reviews5000-2.5-https://www.forexexplore.com/forex-brokers/advancedmarkets-reviewsAdvanced Trader/Pro/Prime, Fortex FX noyesWire, Check1:50English, Spanish, KoreanAustralian AFSL, ASICyes100000
XM8http://clicks.pipaffiliates.com/afs/come.php?id=27&cid=3689&ctgid=16&atype=151$30 no deposityeshttps://www.forexexplore.com/forex-brokers/xm-reviewMetaTrader 4, Metatrader 5, XM WebtraderyesyesCredit/Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer1:888Arabic, Chinese, English, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Malay, Korean, Polish, Portuguese, Russian, Spanish, Swedish, Turkish, Thai, VientamesenoCySEC, ASIC Australia, IFSC Belizenoyesyesnoyesno101011
Anzo Capital2https://anzocapital.com/1002https://www.forexexplore.com/forex-brokers/anzo-capital-reviewMetaTrader 4yesyesWebmoney, Skrill, Neteller, Credit Cards1:1000English, Chinesenonoyesyesyesyesyesnonoyesnono110001
MEX Exchange1https://www.mexexchange.com/250.2https://www.forexexplore.com/forex-brokers/mex-exchange-reviewMetatrader 4noyesNeteller, Skrill, Fasapay, UnionPay, Credit Cards, Wire Transfer1:500nonoASICyesyesyesyes110001
FBS1https://www.forexexplore.com/forex-brokers/fbs-review1from 0,2 pips fixed/floating$123 Welcome Bonushttps://www.forexexplore.com/forex-brokers/fbs-reviewMetaTrader 4, Metatrader 5, Webtradingyesyescredit cards, fasapay, Indonesia local banks, Neteller, okpay, perfectmoney, Skrill, Webmoney, wire transfer, Thai local banks, Exchangers, Malaysian banks and Bitcoin by Skrillup to 1:3,000English, Bahasa Indonesia, Bahasa Malyasian, Russian, Spanish, Portuguese, Arabic, Vietnamese, Bengali, Lithuanian, Korean, Chinese, Thai, TamilIFSC; Cysecyesyesyesyes101001
FP Markets3http://go.fpmarkets.com/visit/?bta=35186&nci=5369200starting from 010% credit bonushttps://www.forexexplore.com/forex-brokers/fpmarkets-reviewMetaTrader 4 (MT4), IRESS, Mobile tradingyesyescredit cards, UnionPay, Neteller, Skrill (3% fee), Wire transfer, BPay and broker-to-broker transfer1:500English, Bahasa Melayu, French, Finish, Chinese, Norwegian, Russian, Thai, Italian, German, Portuguese, Spanish and SwedishnoyesASICyesyesyesyesyes110011
DFMarkets3http://www.dfmarkets.co.uk100from 0.1 pips10% Trading Credit Promotion up to $1,000https://www.forexexplore.com/forex-brokers/dfmarkets-reviewsDFTrader, DF WebTrader, DF MobileyesyesBank wire, Credit/Debit cards1:200EnglishnonoFCAnononoyesyes100000
EasyMarkets2http://www.easymarkets.com1002.5https://www.forexexplore.com/forex-brokers/easymarkets-reviewMetatrader 4, EasyMarkets web-based platformyesyescredit cards, neteller, Skrill, Webmney, wire transfer1:100nonoASIC (Australia), CySEC (Cyprus)nononoyes101000
OctaFX9http://octaengine.com/c/?p=566&bt=gif&b=236850from 0.2up to 50%yeshttps://www.forexexplore.com/forex-brokers/octafx-reviewsMetaTrader 4, Metatrader 5, cTraderyesyesNeteller, Skrill, Fasapay, Visa, Mastercard, Malaysian, Vietnamese, Indian, Indonesian, Bangladeshi local banks, Bitcoin, Unionpay1:500EnglishyesFCA UKyesyesyesyesyes110011
IronFX4https://www.forexexplore.com/forex-brokers/ironfx-reviews100040%yeshttps://www.forexexplore.com/forex-brokers/ironfx-reviewsMetatrader 4yesyescredit cards, Fasapay, neteller, qiwi, skrill, webmoney, wire transfer1:500EnglishnoyesASIC, CySEC, DFSA, FCA UK, FSB, UCRFIN, CRFIN, Member of Eurex Exchange, Consob, BaFINyesyesyes110001
FxGlory0https://www.forexexplore.com/forex-brokers/fxglory-review10.550% up to $1,000https://www.forexexplore.com/forex-brokers/fxglory-reviewMetaTrader4, MobilenoyesCredit/debit cards, Paypal, Bitcoin1:3,000Englishyes000001
TrioMarkets0https://www.forexexplore.com/forex-brokers/triomarkets-review1003-https://www.forexexplore.com/forex-brokers/triomarkets-reviewMetaTrader 4, Sirix WebtraderyesyesCredit Card, Wire, Skrill, Neteller, Paypal and CashU1:300English, Arabic, French, Italian, GermannoyesCySECnoyesno101000
CityIndex2http://www.cityindex.co.uk1002-https://www.forexexplore.com/forex-brokers/cityindex-reviewMT4 (MetaTrader 4), Advantage Web, Advantage Trader, iPhone, Android, Windows Phone App, iPad and Tablet AppyesyesCredit/Debit Cards1:400EnglishTrademark of GAIN Capital UK Ltd - Regulated by FCAyesyes100001
Markets.com2https://www.forexexplore.com/forex-brokers/markets-com-review1002up to $2,000https://www.forexexplore.com/forex-brokers/markets-com-reviewMeta Trader 4,MarketTrader, Market WebTrader, Market Java Trader, Market Mobile Trader, Market WAP Trader, Market iTrader, Market AutoTraderyesyesCredit/Debit Cards, Wire Transfer, Webmoney, Local Payments1:200English, French, Spanish, German, Russian, Italian, Chinese, Arabic, Turkish, Portuguese, Japanese, Polish, Greek, Dutch, SwedishCySEC, FSCA South Africa yesyes111000
Orbex0https://www.forexexplore.com/forex-brokers/orbex-review5001.6https://www.forexexplore.com/forex-brokers/orbex-reviewMetaTrader 4noyesSkrill, Neteller, Wire Transfer, Credit Cards, CashU, Webmoney1:500English, Arabic, Bengali, Spanish, German, Russian, Chinese, Bulgarian, Urdu, GreeknonoCySECyesyesno110001
CMTrading4http://go.cmtaffiliates.com/visit/?bta=36085&brand=cmtrading200215% matchhttps://www.forexexplore.com/forex-brokers/cmtrading-reviewMetaTrader 4, Sirixyesyescredit/debit cards, Wire transfer, CashU ,Skrill1:400Financial Services Board (FSB) South Africa100001
AccentForex0https://www.forexexplore.com/forex-brokers/accentforex-review10350%nohttps://www.forexexplore.com/forex-brokers/accentforex-reviewMetaTrader 4noyesWebMoney, OkPay, Skrill, Wire Transfer, Credit Cards1:500English000001
GrandCapital0https://www.forexexplore.com/forex-brokers/grandcapital-review102$500 no deposithttps://www.forexexplore.com/forex-brokers/grandcapital-reviewMetaTrader 4, WebTraderyesyesCredit card, Neteller, Webmoney, CashU, Fasapay, Scrill, Webmoney500:1English, Russian, Chinese, IndonesianyesnoFinancial Commission FinaCom, EDR Hong Kong external dispute resolution organizationyesnono101001
Simplefx1https://simplefx.com11https://www.forexexplore.com/forex-brokers/simplefx-reviewsMetaTrader 4 and in-house web-based platformyesyesWire transfer, Credit/debit cards, Skrill, Neteller, Astropay, Webmoney, FasaPay, Qiwi, Moneta, ru, Yandex, China UnionPay, Bitcoin and litecoin1:100nonononononoyes000000
Alvexo0https://www.forexexplore.com/forex-brokers/alvexo-review50003.3-https://www.forexexplore.com/forex-brokers/alvexo-reviewMetaTrader 4, WebTrader, MobileyesyesCash-U, Credit Card, Webmoney, Wire Transfer400:1English, FrenchnonoCySECyesyes100001
RubixFX0https://www.forexexplore.com/forex-brokers/rubixfx-review5000.2-https://www.forexexplore.com/forex-brokers/rubixfx-reviewMetaTrader 4noyesWire Transfer, Credit Cards400:1English, French000001
NSFX0https://www.forexexplore.com/forex-brokers/nsfx-review3003https://www.forexexplore.com/forex-brokers/nsfx-reviewMetatrader 4, Webtrader, NSFX Jforex platformyesyescredit cards, Skrill, CashU and wire transfer200:1English, Arabic, German, Turkish and ItaliannonoMFSAyesyesno100000
Synergy FX1https://synergyfx.com/5002https://www.forexexplore.com/forex-brokers/synergyfx-reviewsMetaTrader 4noyescredit cards, skrill, wire transfer1:500noyesASIC, AFSLyesyesyesyes100001
FXGrow0https://www.forexexplore.com/forex-brokers/fxgrow-review1000.8-https://www.forexexplore.com/forex-brokers/fxgrow-reviewMetaTrader 4, NetStationyesyesCredit/Debit cards, Skrill, Neteller, OkPay, CashU, WireTransfer200:1English001000
Juno Markets0https://www.forexexplore.com/forex-brokers/juno-markets-review5003-https://www.forexexplore.com/forex-brokers/juno-markets-reviewMetaTrader 4noyesneteller, skrill, credit cards, wire transfer1:400EnglishnonoFinaComnoyesno100001
Tickmill3http://www.tickmill.com/1001.2-https://www.forexexplore.com/forex-brokers/tickmill-reviewMetaTrader 4, Webtraderyesyeswire transfer (commission are charged), credit/debit cards, Skrill, Neteller, FasaPay, UnionPay and WebMoney1:500noyesFCA UK, FSA Seychellesyesyesnoyes111011
TeleTrade0https://www.forexexplore.com/forex-brokers/teletrade-review2000524%https://www.forexexplore.com/forex-brokers/teletrade-reviewMetaTrader 4, Mobilenoyescredit cards, Wire transfer, Neteller, Skrill1:200English, Russian000000
Financika1https://www.financikatrade.com/2502https://www.forexexplore.com/forex-brokers/financika-reviewsProfit, WebProfit, MetaTrader 4yesyes credit cards, wire transfer200:1nononononono000000
TenkoFX3http://www.tenkofx.com103https://www.forexexplore.com/forex-brokers/tenkofx-reviewMetaTrader 4, WebtraderyesyesSkrill, Neteller, FasaPay, Webmoney, Yandex Money, Qiwi1:500EnglishnonoInternational Financial Services Commission of Belizeyesyesno100001
KGIeworld0https://www.forexexplore.com/forex-brokers/kgieworld-review10003-https://www.forexexplore.com/forex-brokers/kgieworld-reviewMetaTrader 4noyesWire Transfer, Check1:50EnglishnonoMASnoyesno100000
Abshire-Smith0http://www.abshire-smith.com/5001.8https://www.forexexplore.com/forex-brokers/abshire-smith-reviewsVertex fx, Metatrader 4, straticatornoyesCashU, Neteller, Skrill, Wire Transfer1:200nonoFCAyes101000
Alfa Financial0http://www.alfafinancials.com10000$1 plus $15 commissionshttps://www.forexexplore.com/forex-brokers/alfa-financial-reviewMetaTrader 4, AX1Traderyesyes1:100EnglishnonoCentral Bank UAEyes100000
Blueberry Markets4https://www.blueberrymarkets.com1001.5https://www.forexexplore.com/forex-brokers/blueberry-markets-reviewsMetaTrader 4noyescredit cards, wire transfer, POLi, Skrill1:500nonoASICyesyesyesyes110001
CIBfx0http://www.cibfx.com1001https://www.forexexplore.com/forex-brokers/cibfx-reviewMetaTrader 4 yesyesPaypal, Skill, Credit Cards, Neteller1:200nonoVSFCnoyesno000000
BlackBull Markets9https://go.blackbullmarkets.com/visit/?bta=39396&brand=blackbull2000.8yeshttps://www.forexexplore.com/forex-brokers/blackbull-markets-reviewMetatrader 4, Metatrader 5yesyesBank Transfer, Credit Card Payments (Visa, MasterCard), Skrill, Neteller, China Union Pay, FasaPay1:500yesnoFinancial Services Provideryesyesyesnoyesyesyes100000
Darwinex0https://www.darwinex.com/5001https://www.forexexplore.com/forex-brokers/darwinex-reviewMetaTrader 4, cTraderyesyesBank Wire, Credit Cards, UnionPay1:200noyesFCAyes100000
Eightcup0https://www.eightcap.com/1001https://www.forexexplore.com/forex-brokers/eightcap-reviewMetatrader 4noyes1:500nonoASICyesyesnoyes110011
ETX Capital0https://www.etxcapital.com/1001https://www.forexexplore.com/forex-brokers/etxcapital-review ETX Trader Pro, Metatrader 4, ETX binaryyesyescredit cards, wire transfer, firopay, neteller, skrill, sofort, china unionpay1:200nonoFCAnonono100000
FCI Markets1http://www.fci-markets.co.uk/2500.2https://www.forexexplore.com/forex-brokers/fci-markets-reviewsCurrenex, FCI NetStation, MetaTrader 4yesyescredit cards, neteller, skrill, wire transfer1:100noyesFCAyesyesno110000
Fortrade1https://www.fortrade.com/5003https://www.forexexplore.com/forex-brokers/fortrade-reviewsFortraderyesyeswire transfer, credit cards, skrill, neteller1:200nonoFCAnononoyes100000
FXGiants1http://www.fxgiants.co.uk5002.2https://www.forexexplore.com/forex-brokers/fxgiants-reviewsMetaTrader 4noyescredit cards, neteller, paypal, skrill, unionpay, Webmoney, Wire Transfer1:500nonoFCAnonoyes100001
FXGlobe1https://www.fxglobe.com/2500.7https://www.forexexplore.com/forex-brokers/fxglobe-reviewsMetaTrader 4noyesCredit cards, Neteller, Skrill, Wire transfer1:500nonoCySECyesnoyes110001
FXonus1https://fxonus.com/5003https://www.forexexplore.com/forex-brokers/fxonus-reviewMetaTrader 4yesyesCredit Cards, Skrill, Neteller, Wire Transfer, China Union Pay1:500nononoyesnono010001
FXoro1https://www.fxoro.com/2003https://www.forexexplore.com/forex-brokers/fxoro-reviewsMetatrader 4noyescredit cards, wire transfer, skrill, neteller, ecoPayz, CashU1:400nonoCySECyesnono100001
FXprimus1http://www.fxprimus.com/1000.3https://www.forexexplore.com/forex-brokers/fxprimus-reviewsMetatrader 4noyesBitcoin, China UnionPay, FasaPay, Neteller, Skrill, Wire Transfer1:500nonoCysecyesyesyes110001
Infinox1https://www.forexexplore.com/forex-brokers/infinox-reviews1001.5https://www.forexexplore.com/forex-brokers/infinox-reviewsMetatrader 4noyescredit cards, wire transfer, skrill, neteller, china unionpay1:300noboFCA UKyesyesnoyes100000
JCMFX1http://jcmfx.com/101.8https://www.forexexplore.com/forex-brokers/jcmfx-reviewMetaTrader 4noyescredit cards, FasaPay, Wire Transfer, Neteller, Skrill1:1,000nonoFSAnonono100001
Larson&Holz1https://www.lh-broker.com/1000https://www.forexexplore.com/forex-brokers/larson-holz-reviewMetatrader 4, Web Traderyesyescredit cards, wire transfer, neteller, paypal, Yandex, liqpay, alfa click, beeline, mtc, perfect money1:500nonoFMRRC, NAFDyesyesno100001
LCG1https://www.lcg.com/11.6https://www.forexexplore.com/forex-brokers/lcg-reviewsMetaTrader 4, LCG Trader (web-based, ECN accounts only)yesyeswire transfer, debit/credit cards, Skrill1:500nonoFCA UKyesyesnoyes100001
LMFX1https://www.lmfx.com/501.8100% match bonus, 15% recoveryhttps://www.forexexplore.com/forex-brokers/lmfx-reviewMetatrader 4, Webtraderyesyescredit cards, Fasapay, neteller, okpay, skrill, wire transfer1:1,000yesnonoyesnoyesyes000001
LQDFX1https://www.lqdfx.com/201https://www.forexexplore.com/forex-brokers/lqdfx-reviewMetaTrader 4, xStationyesyesWire transfer, Credit cards, Skrill, Neteller, Unipay, FasaPay, SoFort, iDeal1:500nononoyesyesno000001
Mahi FX1https://mahifx.com/11https://www.forexexplore.com/forex-brokers/mahifx-reviewsMetatrader 4, MahiFXyesyeswire transfer, credit cards1:100nonoFCA UK, ASIC, FMAnononoyesyes100000
Paxforex1https://paxforex.com/10No deposit $7 bonus – cannot withdrawhttps://www.forexexplore.com/forex-brokers/paxforex-reviewsMetaTrader 4noyesCredit cards, FasaPay, Neteller, OKPAY, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire Transfer1:500nononononoyes000001
Pricemarkets1https://pricemarkets.com5002.5https://www.forexexplore.com/forex-brokers/pricemarkets-reviewMetaTrader 4 ECN, Currenex ECN, Integral FX, Liquid-x, Hotspot FXyesyeswire transfer, credit cards1:400yesnoFCA UKyesyesyes100001
Rallytade1https://www.forexexplore.com/forex-brokers/rallytrade-review1001.6https://www.forexexplore.com/forex-brokers/rallytrade-reviewMetatrader 4, xStation (web-based), xSocial, xOptionsyesyescredit cards, neteller, skrill, Interswitch, Pocketmoni, etraszact, perfectMoney, WebMoney, VoguePay1;1,000yesyesFinaCOMnonono100001
Range Markets 1https://www.rangeforex.com/1003https://www.forexexplore.com/forex-brokers/range-markets-reviewsMetatrader 4noyesNeteller, Credit Cards, wire transfer1:500nonoFSA of St. Vincent and the Grenadinesnonono100001
Rekuten Securities1https://www.forexexplore.com/forex-brokers/rakuten-reviews10.7https://www.forexexplore.com/forex-brokers/rakuten-reviewsMarketSpeed FX, Trading Station (inherited from FXCM)yesyeswire transfer, checks, ATM (only for local residents)1:50nonoSFCnoyesnoyes100000
Roboforex1http://www.roboforex.com/12https://www.forexexplore.com/forex-brokers/roboforex-reviewMetaTrader 4, cTraderyesyescredit cards, QIWI wallet, webmoney, Yandex.money, RBK money, Skrill, FasaPay, CashU, Payoneer, China UnionPay, Neteller, Perfect Money1:500nonoCysec, IFSC, FSP, FSCLyesyesno100001
Swissmarkets0https://www.swissmarkets.com/?campaign=1341&p1=&p2=334&p3=6m8j8j7w#signup2001.2https://www.forexexplore.com/forex-brokers/swissmarkets-reviewMetatrader 4, Webtraderyesyescredit cards, wire transfer, neteller, skrill, iDEAL, giropay1:500nonoCySEC, MiFIDnoyesno100101
Trade3600https://www.trade360.com/1001.835%, $60 no deposit for real accounthttps://www.forexexplore.com/forex-brokers/trade360-reviewTrade360yesnocredit cards, skrill, neteller, wire transfer1:1,000nonoCySECnononoyesyes100001
Tradersway1https://www.tradersway.com/01https://www.forexexplore.com/forex-brokers/traders-way-reviewsMetatrader 4, ctraderyesyesSkrill, Neteller, Perfect Money, Webmoney, QIWI, MonetaRu, EasyPay, Boletto, CashU1:1,000nononoyesyesno010001
Trading2121http://www.trading212.com/1002.5https://www.forexexplore.com/forex-brokers/trading212-reviewTrading212yesnowire transfers, credit and debit cards, PayPal, Dotpay, Giropay, SafetyPay, Carte Bleue, Mister Cash, Direct eBanking, CashU and UnionPay1:200nonoFCA UKnoyesnoyes100000
TurnkeyForex1http://turnkeyforex.com/5200% deposit bonus; 30 days of commission-free trading; 30% rescue bonushttps://www.forexexplore.com/forex-brokers/turnkey-forex-reviews MetaTrader 4, Trade Stationyesyescredit cards, wire transfer, neteller1:200yesyesnoyesyesyes000000
Whaleclub1https://whaleclub.co/11https://www.forexexplore.com/forex-brokers/whaleclub-reviewsin-house whaleclub web platformyesnobitcoin1:100nononononono000000
Z.com Trade3https://trade.z.com/11.4https://www.forexexplore.com/forex-brokers/z-com-trade-reviews Z.com trader web, Z.com trader pro (demo account only)yesyescredit cards, wire transfer, china unionpay, skrill1:200nonoFCA UKyesyesno100000
Freshforex3https://www.forexexplore.com/forex-brokers/freshforex-review13+5% to each cryptocurrency deposit; get 300% for each deposithttps://www.forexexplore.com/forex-brokers/freshforex-reviewMetatrader 4yesyesWebMoney, ePayService, Skrill , FasaPay, ADVCash, Perfect Money, Neteller, OnlineNaira NGN/USD, E-wallets for the Philippines, Visa/Mastercard/Maestro USD/EUR, Local Depositors, Bitcoin, Internet Banking1:1000noyesKROUFRyesyesyesyesyesyesyesyesyes110011
ForexMart0https://www.forexexplore.com/forex-brokers/forexmart-review10.0$150 no deposit neededhttps://www.forexexplore.com/forex-brokers/forexmart-reviewMetatrader 4yesyescredit cards, Neteller, Skrill, Paypal, Paxum? Bitcoin1:1,000nonoCySECnoyesyesyesyesyesyesyes100001
Pepperstone3https://trk.pepperstonepartners.com/aff_c?offer_id=329&aff_id=40262001.2100% Match Bonushttps://www.forexexplore.com/forex-brokers/pepperstone-reviewMetatrader 4, Metatrader 5, cTrader, cAlgo, cMirroryesyesbPay, credit cards, Paypal1:500EnglishyesyesASIC, FCA UKyesyesyesyesyesyesyesyes111001
Forexee0https://www.forexee.com500.5 plus commissionsSpecial trading commission $1, Welcome Bonus $15 for STP, 0% commission for depositshttps://www.forexexplore.com/forex-brokers/3768-forexee-reviewMetaTrader 4noyesCredit Cards, Webmoney, Wire Transfer, Skrill, Neteller, Bitcoin, Bitcoin Cash, litecoin, Fasapay, etherium, Payza, Perfect Money1:500Englishnononoyesyesnoyes010001
AETOS0https://www.forexexplore.com/forex-brokers/aetos-review2502https://www.forexexplore.com/forex-brokers/aetos-reviewMetaTrader 4yesyesBank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY1:200nonoFCA UKnononoyesyes100000
AETOS0https://www.forexexplore.com/forex-brokers/aetos-review2502https://www.forexexplore.com/forex-brokers/aetos-reviewMetaTrader 4yesyesBank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY1:200nonoFCA UKnononoyesyes100000
LH-Crypto0https://www.lh-crypto.com/101https://www.forexexplore.com/forex-brokers/lh-crypto-reviewMetatrader 4, Metatrader 5yesyesBitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, DASH, Ripple, NEO, Visa, MasterCard, Web Money, QIWI, wire transfer1:5002018noyesyesyesyesnoyes111001
TradeFW3https://www.tradefw.com/0250https://www.forexexplore.com/forex-brokers/tradefw-reviewyesyesBank wire, Credit/Debit Card.1:30nonoCysecyesyesnoyes110000
1Market0https://www.forexexplore.com/forex-brokers/1market-review2503https://www.forexexplore.com/forex-brokers/1market-reviewWebtrader, Metatrader 5yesyescredit cards, bank wire transfers, Neteller, Skrill, Sofort, Rapid, PaySafe Card and Volt1:400nonoCysecnonononoyes100001
Trade Nation4https://www.forexexplore.com/forex-brokers/tradenation-review10.6https://www.forexexplore.com/forex-brokers/tradenation-reviewin-house web-based platform, Metatrader 4 MT4yesyesCredit Card, Srill 1:30; 1:200EnglishyesyesFCA in the UK, the ASIC in Australia, the FSCA in South Africa and the SCB in the Bahamasyes110000
PlusMarkets0https://www.forexexplore.com/forex-brokers/plusmarkets-review00.1https://www.forexexplore.com/forex-brokers/plusmarkets-reviewMetatrader 4, PlusMarkets Traderyesyescards, wire transfers, and some alternative payment methods, which aren’t specified1:30nonoCySecnoyesno100000
HonorFX0https://www.forexexplore.com/forex-brokers/honorfx-review1000.2https://www.forexexplore.com/forex-brokers/honorfx-reviewMetatrader 5noyesCredit Cards, Neteller, Skrill, Paypal, Bitpay, Fasapay, Perfect Money1:500FSAyes101001
Tiger Brokers0https://www.forexexplore.com/forex-brokers/tiger-brokers-review0https://www.forexexplore.com/forex-brokers/tiger-brokers-reviewTiger TradenoyesBank Wire Transfer, FAST, DDA, PayNowUp to 4x (day trade), Up to 2x (next day)yesUS Securities and Exchange Commission, Australian Securities & Investments Commission (ASIC) yes100000
MarketBull0https://www.forexexplore.com/forex-brokers/marketbull-review10001.8100% match the deposithttps://www.forexexplore.com/forex-brokers/marketbull-reviewMetatrader 4yesyesCredit Cards, Neteller, Skrill, Bank Wire Transfer1:1000jurisdiction of the UKyesyesyesyesyes110001
CedarFX0https://www.forexexplore.com/forex-brokers/cedarfx-review503https://www.forexexplore.com/forex-brokers/cedarfx-reviewMetaTrader 4 yesCredit Card, Bank Wire, Bitcoin1:500yes100001
GCI Trading0https://www.forexexplore.com/forex-brokers/gci-trading-review500150% on deposithttps://www.forexexplore.com/forex-brokers/gci-trading-reviewMetaTrader 4, ActTraderyesyesBank Wire Transfer, Credit Card, Neteller, Skrill1:400IFSCyesyes110001
Axi0https://www.forexexplore.com/forex-brokers/axitrader-review2001.2https://www.forexexplore.com/forex-brokers/axitrader-reviewMetatrader 4yesyesDebit and Credit Cards (Visa, Master, Maestro, JCB) Neteller Skrill/Moneybookers Global Collect (only for Australian clients) BPAY (only for Australian Clients) China Union Pay (only for Chinese residents) Bank Transfer Broker to Broker Transfer1:400nonoASIC, FCA, Financial Services Authority in Saint Vincent and the Grenadinesnonoyes100001

How To Choose a Forex Brokerage if you are Kenyan trader

Firstly, traders will need to assess their current level of knowledge and personal trading style. If a trader is a beginner and know little to nothing about currency trading, it is suggested that they stay away of Metatrader4 and start out with a webtrader that doesn’t need to be downloaded.

Kenyan forex traders have to decide, whether they want to choose a CMA regulated FX company or choose a one of the world’s most trusted currency brokerage. Unfortunately, as stated there are currently no big brands physically located in Kenya itself.

You have to decide on your currency pairs and trading style. Practice with demo account before you invest any real money into the game. Keep in mind that Metatrader 4 platform is one of the popular and safest out there and is available for either download and web-based including mobile versions.

Whether a complete newbie or experienced trader, check out terms and conditions of each broker you have selected to trade with. Little hidden fees, high spreads, limitations on trading styles can be a huge disadvantage for your investing career.

What you need to look out for the most:

  • Spreads – The difference between SELL and BUY price in points (pips) anything over 3 Pips for the most liquid EUR/USD is usually too much and you should avoid. Spreads can be variable or fixed, it usually depends on the account type.
  • Swaps – the fee you pay in order to keep the contract open over night. There are Islamic accounts with some brokers with swap-free options.
  • Commissions per lot traded – usually charged with ECN and STP accounts where spreads are fixed.
  • Respected regulation authority such as DFSA, FCA UK, Cysec
  • Segregated accounts for your trading funds (meaning that your money is kept separately from the company’s finances)
  • Satisfactory reviews from real forex traders from Kenya and around the globe
  • Various payment methods with fast deposit and withdrawal options
  • Low spreads and outstanding trading features
  • Reputable trading platform such as Metatrader 4
  • High quality customer support via chat email and phone 

Best Forex Trading Time in Kenya

  1. The London – New York Overlap Window. The best forex trading time in Kenya is between 1600 and 2000 hours (4:00 PM and 8:00 PM local time). At 1600 hours, the London and New York trade sessions start to overlap.
  2. The London Trading Session. About 30% of all forex trade transactions happen during the London session.

How do we rank and review?

Our team consists of traders with more than 15 years experience in forex. We have collected, reviewed, ranked and test driven more than 300 online international forex brokers and have created a full 2023 Forex Broker Review guide for our visitors. 

Account Types Reviews

Online broker might offer various account types with different trading terms and features, starting from cent trading, for example, micro lots, spreads, maximum leverage and support. Newbies should definitely start with micro or mini accounts if possible to practice their way up to larger investing opportunities.

Is forex trading illegal in Kenya?

“No forex broker can legally onboard Kenyan clients into any entity without an online forex license issued by the CMA. EGM Securities fully understands the concern of the CMA, and as the first regulated broker in the Region, we will continue to serve our community.”

How can I trade Forex in Kenya?

You can trade forex in Kenya through any Dealing or Non-Dealing Broker or Money Manager licensed by the CMA. For this, the broker will usually charge you a commission or spread. The spread of a broker is measured in percentage points or ‘pips’

Forex Brokers in Kenya

We have completed a list of reliable forex brokers Kenyan traders can choose to trade with and make advantage of forex market. At the moment the presented brokers are offshore, however most international brokers accept traders from Kenya without problems and you can easily deposit and withdraw money to and from your account. Registration and account opening is done within minutes and you can fund the account with various payment methods such as credit cards, Skrill, Neteller, Webmoney, CashU and others. There is also an option of bank transfers, but keep in mind that this option is timely.

After testing and reviewing more than 300 forex brokers across the globe, we have chosen the ones that are reputable and have best terms and trading conditions for Kenyans. We hope that you find this section of our website useful and resourceful. Please consider leaving your own review for the broker you trade with and share your experience with other traders.

How to choose the best forex broker in Kenya

There are some points that you must check in a broker before you choose them. Below is our points checklist that you can use an a guideline:

Regulation

It is very important to make sure that the forex broker you choose is regulated by CMA or other Top-tier regulations like FCA, FSCA or ASIC.

Regulated brokers can be held accountable for any bad practises like stop hunting, trading againt customers etc. But when you are trading with an unregulated broker there will be no Grievance Redressal in case the broker commits a fraud against you.

The most trusted regulatory agencies are British FCA, Cyprus CySEC and Australian ASIC. These government agencies force forex companies to implement strict security standards such as segregated accounts (where your money is safe in a first class bank account like Barclays, completely separated from the funds that broker’s own money that they use to fund the operations) some even force to offer Negative Balance Protection (meaning you will never owe more money than you deposit) to protect even those clients who are from outside of the E.U. That being said, if you open a forex trading account with forex brokerage regulated by any of these agencies, there is a high chance that your money will be safe.

Trading & Non-Trading Fees

Another important factor to check is the forex broker’s ‘overall fees’. We say overall fees because you should check both the fees charged for trading activities & also the other fees charged like in case of deposits/withdrawals or other commissions.

Trading related fees: 

  • Spreads– The difference between SELL and BUY price in points (pips) anything over 3 Pips for the most liquid EUR/USD is usually too much and something traders should avoid. Spreads can be variable or fixed, it usually depends on the account type.
  • Swaps– the fee traders pay in order to keep the contract open overnight.
  • Commissions per LOT – Traders won’t see this very often, usually only with the top class.

Trading Platforms

What is the best trading platform for Kenya?We consider MetaTrader 4 (MT4) and MetaTrader 5 (MT5) developed by MetaQuotes Software to be excellent choices. MT4 is the most popular trading platform you will find in the market for all levels of traders while MetaTrader 5 is an upgrade on MT4 as it offers a greater range of features.

Number of Trading Instruments

Also check the number of CFD instruments available on the broker’s platform. Is the instrument that you want to trade available or not?

Deposit & Withdrawals

Always check if your choice of deposit & withdrawal methods are available at the broker or not.

Customer Support

Availability of 25/5 customer support is really important as you never know when you might need help. It could be related to any issue from withdrawals, to general queries.

Account Types 

Depending on a trader’s budget and their own personal trading style, they can choose between Micro (trading Micro Lots), Mini and Standard accounts for the most serious trading activity. It is encouraged that traders start small with Micro or Mini if possible.

Trading financial instruments carries high level of risk to your capital with the possibility of losing more than your initial investment. This site will not be held liable for any loss or damage in result from using the information within the site including forex Broker reviews 2022, market analysis, trading signals, learning resources and comparison tables. The data within this website is not necessarily real-time nor accurate and do not represent the recommendations of the employees. Currency trading is not suitable for all investors. Before deciding to trade currency or any other financial instrument please consider consider your investment objectives, level of experience, and risk appetite. While we do our best to provide up-to-date information, we strongly encourage you to verify it directly with the broker of your choice.