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
| Broker | Min Deposit | Platforms | Payments | Leverage | Regulation | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| eToro | 1 | https://forexexplore.com/forex-brokers/etoro-review/ | 200 | 2 | - | https://forexexplore.com/forex-brokers/etoro-review/ | eToro Platform | no | yes | Credit Cards, Debit Cards, Paypal, Neteller, Skrill, Webmoney, Wire Transfer | 1:30; 1:1 for Crypto Currencies | English, Spanish, Italian, Portuguese, Russian, Chinese, Arabic, German | no | yes | CySec, NFA | yes | yes | 1 | 0 | 1 | 0 | 0 | 0 | ||||||||
| AGEA | 0 | https://forexexplore.com/forex-brokers/agea-reviews/ | 1 | 3 | $5 no-deposit bonus | https://forexexplore.com/forex-brokers/agea-reviews/ | Streamster, MetaTrader 4 | yes | yes | Credit Cards, Wire, Skrill, Webmoney, e-Dinar, Neteller, FasaPay, Perfect Money | 1:500 | English | no | yes | 1 | 0 | 1 | 0 | 0 | 1 | |||||||||||
| AvaTrade | 8 | http://www.avatrade.com/?tag=1574 | 100 | 1 | 100% | yes | https://forexexplore.com/forex-brokers/avatrade-review/ | AvaTrader, MetaTrader 4, MetaTrader Floating Spread, Mac Trading, Web Trading, Mobile Trading, Automatic Trading, AvaOptions | yes | yes | Credit Cards, Debit Cards, Skrill, Wire Transfer, PayPal, Neteller, WebMoney | 1:400 | English, Chinese, Arabic, Spanish, French, Italian, Portuguese, German, Indonesian | no | yes | Central Bank of Ireland, ASIC, Financial Services Commission of British Virgin Island | no | yes | no | yes | yes | yes | 1 | 0 | 1 | 0 | 1 | 1 | |||
| CMCMarkets | 2 | https://forexexplore.com/forex-brokers/cmc-markets-review/ | 1 | 0.7 | - | https://forexexplore.com/forex-brokers/cmc-markets-review/ | Next Generation web-based | yes | no | Credit cards, Wire Transfer | 500:1 | English, Chinese, French, Spanish, German | no | no | FCA | no | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||
| Tifia | 1 | https://forexexplore.com/forex-brokers/tifia-review/ | 10 | 2.5 | https://forexexplore.com/forex-brokers/tifia-review/ | Metatrader 4, webtrader | yes | yes | wire transfer, credit cards, skrill, neteller, perfect money, fasapay, okpay | 1:1,000 | no | yes | Vanuatu Financial Services Commission VFSC | yes | yes | no | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| LiteFinance | 7 | https://www.litefinance.com/?uid=900002841 | 10 | 3 | 30% + 15% | yes | https://forexexplore.com/forex-brokers/litefinance-review/ | Metatrader 4, Metatrader 5, WebTerminal | yes | yes | Skrill, Webmoney, Bitcoin, Advcash, Credit Card | 1:500 | English, Russian, Chinese, Malaysian, German, Arabic, Partugese, Spanish, French, Hebrew, Japanese, Greek | no | yes | CySEC, Marshal Islands Business Corporation Act. | yes | no | yes | yes | yes | yes | yes | yes | yes | 1 | 1 | 1 | 0 | 0 | 1 |
| InstaForex | 7 | https://www.instaforex.com/?x=JR | 1 | 0.6 | $100 No Deposit Bonus | yes | https://forexexplore.com/forex-brokers/instaforex-review/ | MetaTrader 4, Metatrader 5, Webtrader | yes | yes | Some local Bank transfers, PayCo, AstroPay, Cryptocurrency | 1:1,000 | English, Russian | yes | yes | RAFMM | yes | yes | yes | yes | 1 | 1 | 1 | 0 | 0 | 1 | |||||
| Dukascopy | 4 | https://forexexplore.com/forex-brokers/dukascopy-reviews/ | 250 | 0.5 | - | yes | https://forexexplore.com/forex-brokers/dukascopy-reviews/ | Dukascopy | yes | yes | Wire, Bank Guarantee, Standby letter of Credit Segregated Accounts | 1:500 | English, French, German, Russian, Spanish, Chinese, Japanese, Arabic | KPMG ARIF | yes | 1 | 1 | 0 | 1 | 0 | 1 | ||||||||||
| RealTrade | 1 | https://forexexplore.com/forex-brokers/realtrade-reviews/ | 20 | 3 | 30% welcome bonus | https://forexexplore.com/forex-brokers/realtrade-reviews/ | MetaTrader 4 | no | yes | Credit Cards, WebMoney, and Wire Transfer | 1:500 | English, Russian | no | no | no | no | no | yes | 0 | 0 | 0 | 0 | 0 | 1 | |||||||
| FxPro | 5 | https://forexexplore.com/forex-brokers/fxpro-review/ | 100 | 0.5 | up to $1,000 | yes | https://forexexplore.com/forex-brokers/fxpro-review/ | FxPro cTrader, FxPro cTrader Web, MT4 Client Terminal, MT4 MultiTerminal, MT4 WebTrader, MT4 Premium | yes | yes | Credit/Debit Card, Bank Wire, PayPal, Neteller, Skrill | 1:500 | Arabic, Chinese, English, French, German, Greek, Hungarian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish and Vietnamese | no | no | FCA, CySEC | yes | yes | no | yes | 1 | 0 | 1 | 0 | 1 | 1 | |||||
| FXOpen | 1 | https://www.fxopen.com/ | 1 | 2 | $100 | https://www.forexexplore.com/forex-brokers/fxopen-reviews | MetaTrader 4 | no | yes | Wire, WebMoney, AlertPay, CashU, c-gold, PerfectMoney | 1:500 | English | no | no | ASIC, FCA UK, Financial Dispute Resolution Scheme | yes | yes | no | yes | yes | 1 | 1 | 1 | 0 | 0 | 1 | |||||
| PrimeXBT | 4 | https://go.primexbt.com/click?pid=2298&offer_id=12 | 1 | https://www.forexexplore.com/forex-brokers/primexbt-review | PrimeXBT, Turbo | yes | no | Credit Cards | 1:1000 | yes | ASIC | yes | yes | yes | yes | 0 | 0 | 0 | 0 | 0 | 1 | ||||||||||
| ActivTrades | 2 | https://www.forexexplore.com/forex-brokers/activtrades-reviews | 100 | 2 | https://www.forexexplore.com/forex-brokers/activtrades-reviews | Metatrader 4, Activtrader | yes | yes | Credit Card, Wire transfer, neteller, skrill, sofort | 1:400 | English, German, Spanish, Italian, French, Portuguese | no | no | FCA | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||||
| House of Borse | 1 | https://www.forexexplore.com/forex-brokers/house-of-borse-review | 50000 | 0.8 | https://www.forexexplore.com/forex-brokers/house-of-borse-review | MetaTrader 4 | no | yes | credit cards, wire transfer | 1:100 | no | no | FCA UK | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| FXDD | 3 | http://www.fxdd.com/ | 100 | 2 | - | https://www.forexexplore.com/forex-brokers/fxdd-reviews | MetaTrader4, FXDD Trader, Power Trader, FXDD Auto, MTXtreme | no | yes | Wire, PayPal, Check, BPS | 1:200 | English, Chinese, Japanese, Russian, Spanish, Portuguese, German, French, Turkish, Arabic, Vietnamese | yes | Malta Financial Services Authority (MFSA) | yes | 1 | 1 | 1 | 0 | 0 | 0 | ||||||||||
| FXCM | 5 | https://www.forexexplore.com/forex-brokers/fxcm-review | 250 | 2 | - | yes | https://www.forexexplore.com/forex-brokers/fxcm-review | Trading Station II, MetaTrader 4, Active Trader, Forex System Selector | no | yes | Credit/Debit card, Online Check, Bank Wire, Paper Check | 1:200 | Spanish, French, Chinese, Russian, Portuguese, German, Italian, Arabic | yes | UK Financial Conduct Authority, AFSL | yes | yes | yes | yes | 1 | 0 | 1 | 0 | 0 | 0 | ||||||
| Hotforex | 2 | https://www.forexexplore.com/forex-brokers/hotforex-review | 5 | 2 | 100% bonus | https://www.forexexplore.com/forex-brokers/hotforex-review | Metatrader 4, mobile platform, rapid trader fix/api | yes | yes | credit cards, skrill, Unionpay, neteller, wire transfer, webmoney, fasapay | 1:1,000 | no | no | yes | no | yes | 0 | 0 | 1 | 0 | 0 | 1 | |||||||||
| Oanda | 3 | https://www.forexexplore.com/forex-brokers/oanda-reviews | 1 | 1.4 | https://www.forexexplore.com/forex-brokers/oanda-reviews | Metatrader 4, FXtrade | yes | yes | check, Credit cards, PayPal, Wire transfer | 1:50 | English, Chinese, German, Spanish, French, Italian, Portuguese and Russian | yes | no | NFA | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||
| Saxo Bank | 2 | http://www.saxobank.com | 5000 | 2 | n/a | https://www.forexexplore.com/forex-brokers/saxobank-reviews | SaxoTrader | no | yes | Wire | 1:100 | English, Belgium, German, French, Spanish, Italian, Arabic, Romanian, Russian, Polish | Danish Financial Services Authority and operates in the UAE | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||||||
| Forex.com | 4 | http://www.forex.com/ | 50 | 2 | - | https://www.forexexplore.com/forex-brokers/forex-reviews | ForexTrader platform (in-house), MetaTrader 4 | yes | yes | wire transfer, Credit/Debit Card, Check | 1:200 | English, Russian, Japanese, Arabic, Turkish, German, Chinese, Albanian, Thai, Italian, Hebrew, Greek | yes | no | CFTC, NFA, FCA (UK), ASIC (Australia), ILLROC (Canada), SFC (Hong Kong), FFAJ (Japan) | yes | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||
| HYCM | 4 | https://www.forexexplore.com/forex-brokers/hycm-reviews | 100 | 2 | 25% up to $5,000 | https://www.forexexplore.com/forex-brokers/hycm-reviews | Metatrader 4 | no | no | credit cards, wire transfer, Skrill, webmoney | 1:400 | English, Chinese, Arabic | no | no | FCA UK, CySEC, SFC | no | no | no | yes | 1 | 0 | 0 | 0 | 1 | 1 | ||||||
| AdmiralMarkets | 1 | https://forexexplore.com/forex-brokers/admiral-markets-reviews/ | 10 | 3 | n/a | https://forexexplore.com/forex-brokers/admiral-markets-reviews/ | MetaTrader 4 | no | yes | Wire | 1:200 | English, Spanish, Russian, Lithuanian, Romanian, Latvian, Bulgarian, Greek, Croatian, Polish, Hungarian, Czech, Italian, Estonian, German, Finnish, Portuguese | 0 | 0 | 1 | 0 | 0 | 0 | |||||||||||||
| Alpari | 2 | https://forexexplore.com/forex-brokers/alpari-review/ | 1 | 2 | 50% Welcome | https://forexexplore.com/forex-brokers/alpari-review/ | MetaTrader 4 | no | yes | Debit or Credit Card, Wire Transfer | 1:500 | English, Chinese, German, and Arabic | yes | yes | 0 | 1 | 1 | 0 | 0 | 1 | |||||||||||
| Fort Financial Services | 1 | https://forexexplore.com/forex-brokers/fort-financial-reviews/ | 5 | 3 | https://forexexplore.com/forex-brokers/fort-financial-reviews/ | MetaTrader 4, CQG, Ninja trader, binary options | yes | yes | Credit cards, webmoney, Skrill, Neteller, perfect money, fasapay, wire transfer | 1:1,000 | English | no | no | IFSC | yes | yes | no | yes | 1 | 1 | 0 | 0 | 0 | 1 | |||||||
| Blackwell Global | 2 | https://forexexplore.com/forex-brokers/blackwell-global-review/ | 2000 | 3 | - | https://forexexplore.com/forex-brokers/blackwell-global-review/ | MetaTrader 4, Blackwell Pro, Mobile | yes | yes | redit/debit cards, Neteller, Skrill, Wire transfer | 1:200 | Arabic, Chinese, English, Greek, Italian, Korean, French, Romanian | Financial Conduct Authority | 1 | 0 | 1 | 0 | 0 | 0 | ||||||||||||
| AAAfx | 2 | https://forexexplore.com/forex-brokers/aaafx-reviews/ | 300 | 0.2 | up to 30% | https://forexexplore.com/forex-brokers/aaafx-reviews/ | ZTP, MetaTrader 4, Binary options webtrader, Zulutrade | yes | yes | Wire, Credit Card, Skrill, Neteller, giropay, EPS, directpay24, teleingreso, ideal, qiwi, Bitcoin | 1:200 | Arabic, Chinese, English, French, German, Greek, Italian, Japanese, Russian | no | yes | HCMC (Greece) | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| XTB | 2 | https://forexexplore.com/forex-brokers/xtb-reviews/ | 250 | 2 | https://forexexplore.com/forex-brokers/xtb-reviews/ | Metatrader 4, xStation, xMobile | yes | yes | Credit cards, Neteller, Paypal, Skrill, Wire transfer | 1:200 | no | no | CNMV (Spain), FCA (UK), FSA (Poland) | yes | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| iFOREX | 3 | https://forexexplore.com/forex-brokers/iforex-reviews/ | 100 | 3 | - | https://forexexplore.com/forex-brokers/iforex-reviews/ | FXnet Trader | yes | yes | credit cards, wire transfer | 1:400 | English, Hebrew, Indonesian, German, Spanish, French, Italian, Nederlands, Portuguese, Romanian, Turkish, RUssian, Arabic, Chinese, Japanese | no | no | HFSA in Hungary, CySEC | no | no | no | 1 | 0 | 1 | 0 | 0 | 1 | |||||||
| Oinvest | 0 | https://forexexplore.com/forex-brokers/oinvest-review/ | 200 | 0.7 | Samsung Galaxy, iPhone | no | https://forexexplore.com/forex-brokers/oinvest-review/ | Metatrader 4 | yes | yes | Skrill, Neteller, Credit Cards | 1:200 | no | yes | yes | yes | yes | yes | yes | yes | yes | yes | yes | yes | 1 | 1 | 1 | 0 | 0 | 0 | |
| Plus500 | 5 | https://forexexplore.com/forex-brokers/plus500-reviews/ | 500 | 2 | 30% | yes | https://forexexplore.com/forex-brokers/plus500-reviews/ | Plus500 | yes | no | Skrill, Credit Cards, Wire Transfer | 1:200 | English, Hebrew, Arabic | Israel Securities Authority | 1 | 0 | 0 | 0 | 1 | 0 | |||||||||||
| TraderTrust | 1 | http://traders-trust.com/ | 100 | as low as 2 | 100% upto $5,000 | https://www.forexexplore.com/forex-brokers/tradertrust-reviews | SmartForex | no | yes | Skrill, Credit Cards | 1:200 | English, Russian, Italian, and Arabic | CySec, VFCS | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||
| AdvancedMarkets | 3 | https://www.forexexplore.com/forex-brokers/advancedmarkets-reviews | 500 | 0-2.5 | - | https://www.forexexplore.com/forex-brokers/advancedmarkets-reviews | Advanced Trader/Pro/Prime, Fortex FX | no | yes | Wire, Check | 1:50 | English, Spanish, Korean | Australian AFSL, ASIC | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||
| XM | 7 | http://clicks.pipaffiliates.com/afs/come.php?id=27&cid=3689&ctgid=16&atype=1 | 5 | 1 | $30 no deposit | yes | https://www.forexexplore.com/forex-brokers/xm-review | MetaTrader 4, Metatrader 5, XM Webtrader | yes | yes | Credit/Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer | 1:888 | Arabic, Chinese, English, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Malay, Korean, Polish, Portuguese, Russian, Spanish, Swedish, Turkish, Thai, Vientamese | no | CySEC, ASIC Australia, IFSC Belize | no | yes | yes | no | yes | no | 1 | 0 | 1 | 0 | 1 | 1 | ||||
| Anzo Capital | 2 | https://anzocapital.com/ | 100 | 2 | https://www.forexexplore.com/forex-brokers/anzo-capital-review | MetaTrader 4 | yes | yes | Webmoney, Skrill, Neteller, Credit Cards | 1:1000 | English, Chinese | no | no | yes | yes | yes | yes | yes | no | no | yes | no | no | 1 | 1 | 0 | 0 | 0 | 1 | ||
| MEX Exchange | 1 | https://www.mexexchange.com/ | 25 | 0.2 | https://www.forexexplore.com/forex-brokers/mex-exchange-review | Metatrader 4 | no | yes | Neteller, Skrill, Fasapay, UnionPay, Credit Cards, Wire Transfer | 1:500 | no | no | ASIC | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| FBS | 1 | https://www.forexexplore.com/forex-brokers/fbs-review | 1 | from 0,2 pips fixed/floating | $123 Welcome Bonus | https://www.forexexplore.com/forex-brokers/fbs-review | MetaTrader 4, Metatrader 5, Webtrading | yes | yes | credit cards, fasapay, Indonesia local banks, Neteller, okpay, perfectmoney, Skrill, Webmoney, wire transfer, Thai local banks, Exchangers, Malaysian banks and Bitcoin by Skrill | up to 1:3,000 | English, Bahasa Indonesia, Bahasa Malyasian, Russian, Spanish, Portuguese, Arabic, Vietnamese, Bengali, Lithuanian, Korean, Chinese, Thai, Tamil | IFSC; Cysec | yes | yes | yes | yes | 1 | 0 | 1 | 0 | 0 | 1 | ||||||||
| FP Markets | 3 | http://go.fpmarkets.com/visit/?bta=35186&nci=5369 | 200 | starting from 0 | 10% credit bonus | https://www.forexexplore.com/forex-brokers/fpmarkets-review | MetaTrader 4 (MT4), IRESS, Mobile trading | yes | yes | credit cards, UnionPay, Neteller, Skrill (3% fee), Wire transfer, BPay and broker-to-broker transfer | 1:500 | English, Bahasa Melayu, French, Finish, Chinese, Norwegian, Russian, Thai, Italian, German, Portuguese, Spanish and Swedish | no | yes | ASIC | yes | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 1 | 1 | |||||
| DFMarkets | 3 | http://www.dfmarkets.co.uk | 100 | from 0.1 pips | 10% Trading Credit Promotion up to $1,000 | https://www.forexexplore.com/forex-brokers/dfmarkets-reviews | DFTrader, DF WebTrader, DF Mobile | yes | yes | Bank wire, Credit/Debit cards | 1:200 | English | no | no | FCA | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||
| EasyMarkets | 2 | http://www.easymarkets.com | 100 | 2.5 | https://www.forexexplore.com/forex-brokers/easymarkets-review | Metatrader 4, EasyMarkets web-based platform | yes | yes | credit cards, neteller, Skrill, Webmney, wire transfer | 1:100 | no | no | ASIC (Australia), CySEC (Cyprus) | no | no | no | yes | 1 | 0 | 1 | 0 | 0 | 0 | ||||||||
| Octa | 9 | http://octaengine.com/c/?p=565&bt=gif&b=10119 | 50 | from 0.2 | up to 50% | yes | https://www.forexexplore.com/forex-brokers/octafx-reviews | Metatrader 4, Metatrader 5, Octatrader | yes | yes | Neteller, Skrill, Fasapay, Visa, Mastercard, Malaysian, Vietnamese, Indian, Indonesian, Bangladeshi local banks, Bitcoin, Unionpay | 1:500 | English | yes | CySEC, FSA-St-Vincent, FSCA | yes | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 1 | 1 | |||||
| IronFX | 4 | https://www.forexexplore.com/forex-brokers/ironfx-reviews | 100 | 0 | 40% | yes | https://www.forexexplore.com/forex-brokers/ironfx-reviews | Metatrader 4 | yes | yes | credit cards, Fasapay, neteller, qiwi, skrill, webmoney, wire transfer | 1:500 | English | no | yes | ASIC, CySEC, DFSA, FCA UK, FSB, UCRFIN, CRFIN, Member of Eurex Exchange, Consob, BaFIN | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||
| FxGlory | 0 | https://forexexplore.com/forex-brokers/fxglory-review/ | 1 | 0.5 | 50% up to $1,000 | https://forexexplore.com/forex-brokers/fxglory-review/ | MetaTrader4, Mobile | no | yes | Credit/debit cards, Paypal, Bitcoin | 1:3,000 | English | yes | 0 | 0 | 0 | 0 | 0 | 1 | ||||||||||||
| TrioMarkets | 0 | https://forexexplore.com/forex-brokers/triomarkets-review/ | 100 | 3 | - | https://forexexplore.com/forex-brokers/triomarkets-review/ | MetaTrader 4, Sirix Webtrader | yes | yes | Credit Card, Wire, Skrill, Neteller, Paypal and CashU | 1:300 | English, Arabic, French, Italian, German | no | yes | CySEC | no | yes | no | 1 | 0 | 1 | 0 | 0 | 0 | |||||||
| CityIndex | 2 | https://forexexplore.com/forex-brokers/cityindex-review/ | 100 | 2 | - | https://forexexplore.com/forex-brokers/cityindex-review/ | MT4 (MetaTrader 4), Advantage Web, Advantage Trader, iPhone, Android, Windows Phone App, iPad and Tablet App | yes | yes | Credit/Debit Cards | 1:400 | English | Trademark of GAIN Capital UK Ltd - Regulated by FCA | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||||
| Markets.com | 2 | https://forexexplore.com/forex-brokers/markets-com-review/ | 100 | 2 | up to $2,000 | https://forexexplore.com/forex-brokers/markets-com-review/ | Meta Trader 4,MarketTrader, Market WebTrader, Market Java Trader, Market Mobile Trader, Market WAP Trader, Market iTrader, Market AutoTrader | yes | yes | Credit/Debit Cards, Wire Transfer, Webmoney, Local Payments | 1:200 | English, French, Spanish, German, Russian, Italian, Chinese, Arabic, Turkish, Portuguese, Japanese, Polish, Greek, Dutch, Swedish | CySEC, FSCA South Africa | yes | yes | 1 | 1 | 1 | 0 | 0 | 0 | ||||||||||
| Orbex | 0 | https://forexexplore.com/forex-brokers/orbex-review/ | 500 | 1.6 | https://forexexplore.com/forex-brokers/orbex-review/ | MetaTrader 4 | no | yes | Skrill, Neteller, Wire Transfer, Credit Cards, CashU, Webmoney | 1:500 | English, Arabic, Bengali, Spanish, German, Russian, Chinese, Bulgarian, Urdu, Greek | no | no | CySEC | yes | yes | no | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| CMTrading | 4 | https://forexexplore.com/forex-brokers/cmtrading-review/ | 200 | 2 | 15% match | https://forexexplore.com/forex-brokers/cmtrading-review/ה | MetaTrader 4, Sirix | yes | yes | credit/debit cards, Wire transfer, CashU ,Skrill | 1:400 | Financial Services Board (FSB) South Africa | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||||||
| Accent Forex | 0 | https://forexexplore.com/forex-brokers/accentforex-review/ | 10 | 3 | 50% | no | https://forexexplore.com/forex-brokers/accentforex-review/ | MetaTrader 4 | no | yes | WebMoney, OkPay, Skrill, Wire Transfer, Credit Cards | 1:500 | English | 0 | 0 | 0 | 0 | 0 | 1 | ||||||||||||
| Grand Capital | 0 | https://forexexplore.com/forex-brokers/grandcapital-review/ | 10 | 2 | $500 no deposit | https://forexexplore.com/forex-brokers/grandcapital-review/ | MetaTrader 4, WebTrader | yes | yes | Credit card, Neteller, Webmoney, CashU, Fasapay, Scrill, Webmoney | 500:1 | English, Russian, Chinese, Indonesian | yes | no | Financial Commission FinaCom, EDR Hong Kong external dispute resolution organization | yes | no | no | 1 | 0 | 1 | 0 | 0 | 1 | |||||||
| Simplefx | 1 | https://forexexplore.com/forex-brokers/simplefx-reviews/ | 1 | 1 | https://forexexplore.com/forex-brokers/simplefx-reviews/ | MetaTrader 4 and in-house web-based platform | yes | yes | Wire transfer, Credit/debit cards, Skrill, Neteller, Astropay, Webmoney, FasaPay, Qiwi, Moneta, ru, Yandex, China UnionPay, Bitcoin and litecoin | 1:100 | no | no | no | no | no | no | yes | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Alvexo | 0 | https://forexexplore.com/forex-brokers/alvexo-review/ | 5000 | 3.3 | - | https://forexexplore.com/forex-brokers/alvexo-review/ | MetaTrader 4, WebTrader, Mobile | yes | yes | Cash-U, Credit Card, Webmoney, Wire Transfer | 400:1 | English, French | no | no | CySEC | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||
| NSFX | 0 | https://forexexplore.com/forex-brokers/nsfx-review/ | 300 | 3 | https://forexexplore.com/forex-brokers/nsfx-review/ | Metatrader 4, Webtrader, NSFX Jforex platform | yes | yes | credit cards, Skrill, CashU and wire transfer | 200:1 | English, Arabic, German, Turkish and Italian | no | no | MFSA | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Synergy FX | 1 | https://forexexplore.com/forex-brokers/synergyfx-reviews/ | 500 | 2 | https://forexexplore.com/forex-brokers/synergyfx-reviews/ | MetaTrader 4 | no | yes | credit cards, skrill, wire transfer | 1:500 | no | yes | ASIC, AFSL | yes | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||
| FXGrow | 0 | https://forexexplore.com/forex-brokers/fxgrow-review/ | 100 | 0.8 | - | https://forexexplore.com/forex-brokers/fxgrow-review/ | MetaTrader 4, NetStation | yes | yes | Credit/Debit cards, Skrill, Neteller, OkPay, CashU, WireTransfer | 200:1 | English | 0 | 0 | 1 | 0 | 0 | 0 | |||||||||||||
| Juno Markets | 0 | https://forexexplore.com/forex-brokers/juno-markets-review/ | 500 | 3 | - | https://forexexplore.com/forex-brokers/juno-markets-review/ | MetaTrader 4 | no | yes | neteller, skrill, credit cards, wire transfer | 1:400 | English | no | no | FinaCom | no | yes | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||
| Tickmill | 3 | https://forexexplore.com/forex-brokers/tickmill-review/ | 100 | 1.2 | - | https://forexexplore.com/forex-brokers/tickmill-review/ | MetaTrader 4, Webtrader | yes | yes | wire transfer (commission are charged), credit/debit cards, Skrill, Neteller, FasaPay, UnionPay and WebMoney | 1:500 | no | yes | FCA UK, FSA Seychelles | yes | yes | no | yes | 1 | 1 | 1 | 0 | 1 | 1 | |||||||
| TeleTrade | 0 | https://forexexplore.com/forex-brokers/teletrade-review/ | 2000 | 5 | 24% | https://forexexplore.com/forex-brokers/teletrade-review/ | MetaTrader 4, Mobile | no | yes | credit cards, Wire transfer, Neteller, Skrill | 1:200 | English, Russian | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||
| Financika | 1 | https://forexexplore.com/forex-brokers/financika-reviews/ | 250 | 2 | https://forexexplore.com/forex-brokers/financika-reviews/ | Profit, WebProfit, MetaTrader 4 | yes | yes | credit cards, wire transfer | 200:1 | no | no | no | no | no | no | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
| TenkoFX | 3 | https://forexexplore.com/forex-brokers/tenkofx-review/ | 10 | 3 | https://forexexplore.com/forex-brokers/tenkofx-review/ | MetaTrader 4, Webtrader | yes | yes | Skrill, Neteller, FasaPay, Webmoney, Yandex Money, Qiwi | 1:500 | English | no | no | International Financial Services Commission of Belize | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||
| KGIeworld | 0 | https://www.forexexplore.com/forex-brokers/kgieworld-review | 1000 | 3 | - | https://www.forexexplore.com/forex-brokers/kgieworld-review | MetaTrader 4 | no | yes | Wire Transfer, Check | 1:50 | English | no | no | MAS | no | yes | no | 1 | 0 | 0 | 0 | 0 | 0 | |||||||
| Abshire-Smith | 0 | http://www.abshire-smith.com/ | 500 | 1.8 | https://www.forexexplore.com/forex-brokers/abshire-smith-reviews | Vertex fx, Metatrader 4, straticator | no | yes | CashU, Neteller, Skrill, Wire Transfer | 1:200 | no | no | FCA | yes | 1 | 0 | 1 | 0 | 0 | 0 | |||||||||||
| Alfa Financial | 0 | http://www.alfafinancials.com | 10000 | $1 plus $15 commissions | https://www.forexexplore.com/forex-brokers/alfa-financial-review | MetaTrader 4, AX1Trader | yes | yes | 1:100 | English | no | no | Central Bank UAE | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||
| Blueberry Markets | 4 | https://www.blueberrymarkets.com | 100 | 1.5 | https://www.forexexplore.com/forex-brokers/blueberry-markets-reviews | MetaTrader 4 | no | yes | credit cards, wire transfer, POLi, Skrill | 1:500 | no | no | ASIC | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| CIBfx | 0 | http://www.cibfx.com | 100 | 1 | https://www.forexexplore.com/forex-brokers/cibfx-review | MetaTrader 4 | yes | yes | Paypal, Skill, Credit Cards, Neteller | 1:200 | no | no | VSFC | no | yes | no | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
| BlackBull Markets | 6 | https://go.blackbullmarkets.com/visit/?bta=39396&brand=blackbull | 200 | 0.8 | yes | https://www.forexexplore.com/forex-brokers/blackbull-markets-review | Metatrader 4, Metatrader 5 | yes | yes | Bank Transfer, Credit Card Payments (Visa, MasterCard), Skrill, Neteller, China Union Pay, FasaPay | 1:500 | yes | no | Financial Services Provider | yes | yes | yes | no | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||
| Darwinex | 0 | https://www.darwinex.com/ | 500 | 1 | https://www.forexexplore.com/forex-brokers/darwinex-review | MetaTrader 4, cTrader | yes | yes | Bank Wire, Credit Cards, UnionPay | 1:200 | no | yes | FCA | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||
| Eightcup | 0 | https://www.eightcap.com/ | 100 | 1 | https://www.forexexplore.com/forex-brokers/eightcap-review | Metatrader 4 | no | yes | 1:500 | no | no | ASIC | yes | yes | no | yes | 1 | 1 | 0 | 0 | 1 | 1 | |||||||||
| ETX Capital | 0 | https://www.etxcapital.com/ | 100 | 1 | https://www.forexexplore.com/forex-brokers/etxcapital-review | ETX Trader Pro, Metatrader 4, ETX binary | yes | yes | credit cards, wire transfer, firopay, neteller, skrill, sofort, china unionpay | 1:200 | no | no | FCA | no | no | no | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| FCI Markets | 1 | http://www.fci-markets.co.uk/ | 250 | 0.2 | https://www.forexexplore.com/forex-brokers/fci-markets-reviews | Currenex, FCI NetStation, MetaTrader 4 | yes | yes | credit cards, neteller, skrill, wire transfer | 1:100 | no | yes | FCA | yes | yes | no | 1 | 1 | 0 | 0 | 0 | 0 | |||||||||
| Fortrade | 1 | https://www.fortrade.com/ | 500 | 3 | https://www.forexexplore.com/forex-brokers/fortrade-reviews | Fortrader | yes | yes | wire transfer, credit cards, skrill, neteller | 1:200 | no | no | FCA | no | no | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| FX Giants | 1 | https://forexexplore.com/forex-brokers/fxgiants-reviews/ | 500 | 2.2 | https://forexexplore.com/forex-brokers/fxgiants-reviews/ | MetaTrader 4 | no | yes | credit cards, neteller, paypal, skrill, unionpay, Webmoney, Wire Transfer | 1:500 | no | no | FCA | no | no | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| FXGlobe | 1 | https://forexexplore.com/forex-brokers/fxglobe-reviews/ | 250 | 0.7 | https://forexexplore.com/forex-brokers/fxglobe-reviews/ | MetaTrader 4 | no | yes | Credit cards, Neteller, Skrill, Wire transfer | 1:500 | no | no | CySEC | yes | no | yes | 1 | 1 | 0 | 0 | 0 | 1 | |||||||||
| FXonus | 1 | https://forexexplore.com/forex-brokers/fxonus/ | 500 | 3 | https://forexexplore.com/forex-brokers/fxonus/ | MetaTrader 4 | yes | yes | Credit Cards, Skrill, Neteller, Wire Transfer, China Union Pay | 1:500 | no | no | no | yes | no | no | 0 | 1 | 0 | 0 | 0 | 1 | |||||||||
| FXoro | 1 | https://forexexplore.com/forex-brokers/fxoro-reviews/ | 200 | 3 | https://forexexplore.com/forex-brokers/fxoro-reviews/ | Metatrader 4 | no | yes | credit cards, wire transfer, skrill, neteller, ecoPayz, CashU | 1:400 | no | no | CySEC | yes | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| FXprimus | 1 | https://forexexplore.com/forex-brokers/fxprimus-reviews/ | 100 | 0.3 | https://forexexplore.com/forex-brokers/fxprimus-reviews/ | Metatrader 4 | no | yes | Bitcoin, China UnionPay, FasaPay, Neteller, Skrill, Wire Transfer | 1:500 | no | no | Cysec | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | |||||||||
| Infinox | 1 | https://forexexplore.com/forex-brokers/infinox-reviews/ | 100 | 1.5 | https://forexexplore.com/forex-brokers/infinox-reviews/ | Metatrader 4 | no | yes | credit cards, wire transfer, skrill, neteller, china unionpay | 1:300 | no | bo | FCA UK | yes | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| JCMFX | 1 | https://forexexplore.com/forex-brokers/jcmfx-review/ | 10 | 1.8 | https://forexexplore.com/forex-brokers/jcmfx-review/ | MetaTrader 4 | no | yes | credit cards, FasaPay, Wire Transfer, Neteller, Skrill | 1:1,000 | no | no | FSA | no | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Larson&Holz | 1 | https://forexexplore.com/forex-brokers/larson-holz-review/ | 100 | 0 | https://forexexplore.com/forex-brokers/larson-holz-review/ | Metatrader 4, Web Trader | yes | yes | credit cards, wire transfer, neteller, paypal, Yandex, liqpay, alfa click, beeline, mtc, perfect money | 1:500 | no | no | FMRRC, NAFD | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| LCG | 1 | https://forexexplore.com/forex-brokers/lcg-reviews/ | 1 | 1.6 | https://forexexplore.com/forex-brokers/lcg-reviews/ | MetaTrader 4, LCG Trader (web-based, ECN accounts only) | yes | yes | wire transfer, debit/credit cards, Skrill | 1:500 | no | no | FCA UK | yes | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||
| LMFX | 1 | https://www.lmfx.com/ | 50 | 1.8 | 100% match bonus, 15% recovery | https://www.forexexplore.com/forex-brokers/lmfx-review | Metatrader 4, Webtrader | yes | yes | credit cards, Fasapay, neteller, okpay, skrill, wire transfer | 1:1,000 | yes | no | no | yes | no | yes | yes | 0 | 0 | 0 | 0 | 0 | 1 | |||||||
| LQDFX | 1 | https://www.lqdfx.com/ | 20 | 1 | https://www.forexexplore.com/forex-brokers/lqdfx-review | MetaTrader 4, xStation | yes | yes | Wire transfer, Credit cards, Skrill, Neteller, Unipay, FasaPay, SoFort, iDeal | 1:500 | no | no | no | yes | yes | no | 0 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Mahi FX | 1 | https://mahifx.com/ | 1 | 1 | https://www.forexexplore.com/forex-brokers/mahifx-reviews | Metatrader 4, MahiFX | yes | yes | wire transfer, credit cards | 1:100 | no | no | FCA UK, ASIC, FMA | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||
| Paxforex | 1 | https://paxforex.com/ | 10 | No deposit $7 bonus – cannot withdraw | https://www.forexexplore.com/forex-brokers/paxforex-reviews | MetaTrader 4 | no | yes | Credit cards, FasaPay, Neteller, OKPAY, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire Transfer | 1:500 | no | no | no | no | no | yes | 0 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Pricemarkets | 1 | https://pricemarkets.com | 500 | 2.5 | https://www.forexexplore.com/forex-brokers/pricemarkets-review | MetaTrader 4 ECN, Currenex ECN, Integral FX, Liquid-x, Hotspot FX | yes | yes | wire transfer, credit cards | 1:400 | yes | no | FCA UK | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Rallytade | 1 | https://www.forexexplore.com/forex-brokers/rallytrade-review | 100 | 1.6 | https://www.forexexplore.com/forex-brokers/rallytrade-review | Metatrader 4, xStation (web-based), xSocial, xOptions | yes | yes | credit cards, neteller, skrill, Interswitch, Pocketmoni, etraszact, perfectMoney, WebMoney, VoguePay | 1;1,000 | yes | yes | FinaCOM | no | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Range Markets | 1 | https://www.rangeforex.com/ | 100 | 3 | https://www.forexexplore.com/forex-brokers/range-markets-reviews | Metatrader 4 | no | yes | Neteller, Credit Cards, wire transfer | 1:500 | no | no | FSA of St. Vincent and the Grenadines | no | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Rekuten Securities | 1 | https://www.forexexplore.com/forex-brokers/rakuten-reviews | 1 | 0.7 | https://www.forexexplore.com/forex-brokers/rakuten-reviews | MarketSpeed FX, Trading Station (inherited from FXCM) | yes | yes | wire transfer, checks, ATM (only for local residents) | 1:50 | no | no | SFC | no | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Roboforex | 1 | http://www.roboforex.com/ | 1 | 2 | https://www.forexexplore.com/forex-brokers/roboforex-review | MetaTrader 4, cTrader | yes | yes | credit cards, QIWI wallet, webmoney, Yandex.money, RBK money, Skrill, FasaPay, CashU, Payoneer, China UnionPay, Neteller, Perfect Money | 1:500 | no | no | Cysec, IFSC, FSP, FSCL | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Swissmarkets | 0 | https://www.swissmarkets.com/?campaign=1341&p1=&p2=334&p3=6m8j8j7w#signup | 200 | 1.2 | https://www.forexexplore.com/forex-brokers/swissmarkets-review | Metatrader 4, Webtrader | yes | yes | credit cards, wire transfer, neteller, skrill, iDEAL, giropay | 1:500 | no | no | CySEC, MiFID | no | yes | no | 1 | 0 | 0 | 1 | 0 | 1 | |||||||||
| Trade360 | 0 | https://www.trade360.com/ | 100 | 1.8 | 35%, $60 no deposit for real account | https://www.forexexplore.com/forex-brokers/trade360-review | Trade360 | yes | no | credit cards, skrill, neteller, wire transfer | 1:1,000 | no | no | CySEC | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||
| Tradersway | 1 | https://forexexplore.com/forex-brokers/traders-way-reviews/ | 0 | 1 | https://forexexplore.com/forex-brokers/traders-way-reviews/ | Metatrader 4, ctrader | yes | yes | Skrill, Neteller, Perfect Money, Webmoney, QIWI, MonetaRu, EasyPay, Boletto, CashU | 1:1,000 | no | no | no | yes | yes | no | 0 | 1 | 0 | 0 | 0 | 1 | |||||||||
| Trading212 | 1 | https://forexexplore.com/forex-brokers/trading212-review/ | 100 | 2.5 | https://forexexplore.com/forex-brokers/trading212-review/ | Trading212 | yes | no | wire transfers, credit and debit cards, PayPal, Dotpay, Giropay, SafetyPay, Carte Bleue, Mister Cash, Direct eBanking, CashU and UnionPay | 1:200 | no | no | FCA UK | no | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Turnkey | 1 | https://forexexplore.com/forex-brokers/turnkey-forex-reviews/ | 5 | 2 | 100% deposit bonus; 30 days of commission-free trading; 30% rescue bonus | https://forexexplore.com/forex-brokers/turnkey-forex-reviews/ | MetaTrader 4, Trade Station | yes | yes | credit cards, wire transfer, neteller | 1:200 | yes | yes | no | yes | yes | yes | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Whaleclub | 1 | https://forexexplore.com/forex-brokers/whaleclub-reviews/ | 1 | 1 | https://forexexplore.com/forex-brokers/whaleclub-reviews/ | in-house whaleclub web platform | yes | no | bitcoin | 1:100 | no | no | no | no | no | no | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
| Z.com Trade | 3 | https://forexexplore.com/forex-brokers/z-com-trade-reviews/ | 1 | 1.4 | https://forexexplore.com/forex-brokers/z-com-trade-reviews/ | Z.com trader web, Z.com trader pro (demo account only) | yes | yes | credit cards, wire transfer, china unionpay, skrill | 1:200 | no | no | FCA UK | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| FreshForex | 1 | https://forexexplore.com/forex-brokers/freshforex-review/ | 1 | 0.9 | 101% | https://forexexplore.com/forex-brokers/freshforex-review/ | Metatrader 4, Metatrader 5 | yes | yes | Debit/credit cards, Neteller, OKPAY, W1, QIWI, Webmoney, Skrill, FasaPay, Contact, Wire transfer | 1:1000 | Russian, English, German, Chinese, Arabic, Italian | no | yes | Financial Services Authority of Saint Vincent and the Grenadines | yes | yes | yes | yes | yes | yes | yes | yes | yes | 1 | 1 | 1 | 0 | 1 | 1 | |
| ForexMart | 0 | https://forexexplore.com/forex-brokers/forexmart-review/ | 1 | 0.0 | $150 no deposit needed | https://forexexplore.com/forex-brokers/forexmart-review/ | Metatrader 4 | yes | yes | credit cards, Neteller, Skrill, Paypal, Paxum? Bitcoin | 1:1,000 | no | no | CySEC | no | yes | yes | yes | yes | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||
| Pepperstone | 3 | https://forexexplore.com/forex-brokers/pepperstone-review/ | 200 | 1.2 | 100% Match Bonus | https://forexexplore.com/forex-brokers/pepperstone-review/ | Metatrader 4, Metatrader 5, cTrader, cAlgo, cMirror | yes | yes | bPay, credit cards, Paypal | 1:500 | English | yes | yes | ASIC, FCA UK | yes | yes | yes | yes | yes | yes | yes | yes | 1 | 1 | 1 | 0 | 0 | 1 | ||
| Forexee | 0 | https://forexexplore.com/forex-brokers/forexee-review/ | 50 | 0.5 plus commissions | Special trading commission $1, Welcome Bonus $15 for STP, 0% commission for deposits | https://forexexplore.com/forex-brokers/forexee-review/ | MetaTrader 4 | no | yes | Credit Cards, Webmoney, Wire Transfer, Skrill, Neteller, Bitcoin, Bitcoin Cash, litecoin, Fasapay, etherium, Payza, Perfect Money | 1:500 | English | no | no | no | yes | yes | no | yes | 0 | 1 | 0 | 0 | 0 | 1 | ||||||
| AETOS | 0 | https://forexexplore.com/forex-brokers/aetos-review/ | 250 | 2 | https://forexexplore.com/forex-brokers/aetos-review/ | MetaTrader 4 | yes | yes | Bank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY | 1:200 | no | no | FCA UK | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||
| TradeFW | 3 | https://forexexplore.com/forex-brokers/tradefw-review/ | 0 | 250 | https://forexexplore.com/forex-brokers/tradefw-review/ | yes | yes | Bank wire, Credit/Debit Card. | 1:30 | no | no | Cysec | yes | yes | no | yes | 1 | 1 | 0 | 0 | 0 | 0 | |||||||||
| 1Market | 0 | https://forexexplore.com/forex-brokers/1market-review/ | 250 | 3 | https://forexexplore.com/forex-brokers/1market-review/ | Webtrader, Metatrader 5 | yes | yes | credit cards, bank wire transfers, Neteller, Skrill, Sofort, Rapid, PaySafe Card and Volt | 1:400 | no | no | Cysec | no | no | no | no | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||||||
| Trade Nation | 4 | https://forexexplore.com/forex-brokers/tradenation-review/ | 1 | 0.6 | https://forexexplore.com/forex-brokers/tradenation-review/ | in-house web-based platform, Metatrader 4 MT4 | yes | yes | Credit Card, Srill | 1:30; 1:200 | English | yes | yes | FCA in the UK, the ASIC in Australia, the FSCA in South Africa and the SCB in the Bahamas | yes | 1 | 1 | 0 | 0 | 0 | 0 | ||||||||||
| PlusMarkets | 0 | https://forexexplore.com/forex-brokers/plusmarkets-review/ | 0 | 0.1 | https://forexexplore.com/forex-brokers/plusmarkets-review/ | Metatrader 4, PlusMarkets Trader | yes | yes | cards, wire transfers, and some alternative payment methods, which aren’t specified | 1:30 | no | no | CySec | no | yes | no | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| HonorFX | 0 | https://forexexplore.com/forex-brokers/honorfx-review/ | 100 | 0.2 | https://forexexplore.com/forex-brokers/honorfx-review/ | Metatrader 5 | no | yes | Credit Cards, Neteller, Skrill, Paypal, Bitpay, Fasapay, Perfect Money | 1:500 | FSA | yes | 1 | 0 | 1 | 0 | 0 | 1 | |||||||||||||
| Tiger Brokers | 0 | https://forexexplore.com/forex-brokers/tiger-brokers-review/ | 0 | https://forexexplore.com/forex-brokers/tiger-brokers-review/ | Tiger Trade | no | yes | Bank Wire Transfer, FAST, DDA, PayNow | Up to 4x (day trade), Up to 2x (next day) | yes | US Securities and Exchange Commission, Australian Securities & Investments Commission (ASIC) | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||||
| MarketBull | 0 | https://forexexplore.com/forex-brokers/marketbull-review/ | 1000 | 1.8 | 100% match the deposit | https://forexexplore.com/forex-brokers/marketbull-review/ | Metatrader 4 | yes | yes | Credit Cards, Neteller, Skrill, Bank Wire Transfer | 1:1000 | jurisdiction of the UK | yes | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| CedarFX | 0 | https://forexexplore.com/forex-brokers/cedarfx-review/ | 50 | 3 | https://forexexplore.com/forex-brokers/cedarfx-review/ | MetaTrader 4 | yes | Credit Card, Bank Wire, Bitcoin | 1:500 | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||||||||
| GCI Trading | 0 | https://forexexplore.com/forex-brokers/gci-trading-review/ | 500 | 1 | 50% on deposit | https://forexexplore.com/forex-brokers/gci-trading-review/ | MetaTrader 4, ActTrader | yes | yes | Bank Wire Transfer, Credit Card, Neteller, Skrill | 1:400 | IFSC | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | |||||||||||
| Axi | 0 | https://forexexplore.com/forex-brokers/axitrader-review/ | 200 | 1.2 | https://forexexplore.com/forex-brokers/axitrader-review | Metatrader 4 | yes | yes | Debit 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 Transfer | 1:400 | no | no | ASIC, FCA, Financial Services Authority in Saint Vincent and the Grenadines | no | no | yes | 1 | 0 | 0 | 0 | 0 | 1 |
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
- 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.
- 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.
