10 Best CMA Regulated Forex Brokers In Kenya 2023

CMA has been around for many decades but licensed its first broker in 2017. CMA does not regulate forex brokers in Kenya, and CMA is Kenya’s only regulator of capital markets. CMA regulations are more liberal than most countries in that there are few restrictions and limitations for forex traders and brokers.

Some traders might be surprised to learn that the CMA does not necessarily specify the minimum or maximum deposit required for traders and brokers. The tax these forex traders pay is 5% of net forex earnings.

CMA oversight, licensing, and monitoring are required for stock exchanges, central deposit systems, settlement systems, and Forex brokers in Kenya. CMA oversight ensures that forex brokers registered in Kenya are not engaging in fraud or malpractice.

CMA regulated forex brokers in Kenya

List of 10 Best CMA Regulated Forex Brokers in Kenya

Kenya’s Forex market is among the most active and competitive in East Africa. This makes finding a reputable and reliable forex broker a daunting task. To make your search easier, we’ve compiled a list of 10 of the best CMA Regulated forex brokers in Kenya.

1. AvaTrade

AvaTrade, an Irish brand founded in 2006, is regulated by multiple top financial watchdogs such as the Central Bank of Ireland and FSA Japan. AvaTrade is Kenya’s best forex broker. AvaTrade, a trusted forex broker that is reliable and safe, is trusted by thousands of forex traders around the globe.

AvaTrade offers a variety of trading platforms that allow you to trade algorithmically and socially.

Avatrade is a trusted broker that offers a user-friendly copy trading platform. Avatrade offers 0% commissions and has a trust score of 94/99.


  •  Multiple deposit and withdrawal options
  •  Great educational tools
  •  Quick and easy account opening
  • No withdrawal fees
  •  Low Trading Fees


  • Only CFDs, Forex, and Cryptos
  • There are very few research tools.
  • Phone support is poor
  • Administration fee
  • Inactivity Fee

2. Exness

Another broker firm is present on the Kenyan market. However, it is not CMA Regulated and is licensed. They charge low fees and are regulated in accordance with other regulatory tiers. They are well-known for their low spreads and excellent customer service. The minimum deposit for their standard account is $1, and the other account, it requires a $500 minimum deposit. However, their leverage is very high at 1:1000. They are great with beginners and pros alike and accept M-Pesa for withdrawal and deposit options.

Exness is a reliable and trustworthy broker, which can also be summarized as being very competitive in trading fees (against major currency pairs). Exness offers a sign up bonus to first-time traders and a very low spread.


  • Regulated by the United Kingdom of Cyprus, Seychelles and South Africa.
  •  Client funds are kept separate from other accounts
  • Dealing-Desk Broker
  •  Tight spreads
  •  More than 130+ Currency Pairs With Multiple Trading Platforms


  • There are no multi-currency account

3. Pepperstone

This online forex broker, based in Melbourne, Australia, is one of the most respected on the market.

Pepperstone forex broker is licensed in several top-tier countries, including Australia, Germany, and the United Kingdom. Pepperstone is a CMA-regulated forex broker in Kenya, and it is CMA licensed, and, therefore 100% safe online broker. The platform includes Metatrader 4 (cTrader) and a stable and reliable forex trading platform.

Pipestone provides competitive trading costs, quick trade execution, top customer support, and many other useful features. You will be able to learn more about trading from them and they will provide the tools such as an economic calendar, video tutorials, and live webinars.


  •  Regulation worldwide: ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFin
  •  Ultra-Low Spread Trading Fees Starting at 0.0 Pip (Razor Account).
  •  Local Kenya deposit funding is available
  •  Kenya telephone customer support line
  •  Offices in Nairobi Kenya
  • Minimum deposit only $10
  • Competitive maximum leverage
  • 24/5 Customer Support
  • Quality online education for traders
  • Metatrader 4 / MetaTrader 5 /cTrader
  • Scalping and hedge is permitted


  • Sharing base account currency is not yet
  • No welcome bonuses
  • Only Forex, CFDs and Crypto
  • High financing rate for CFDs


The Affinity Group owns this broker firm. Although a few sites claim that they are CMA licensed forex traders in Kenya, they don’t state it on their website. However, they are a reliable brokerage company that will appeal to Kenyan traders due to their fast order execution, tutorial materials, and client approvals. The minimum deposit is $100, with an average of higher amounts. Spread of 1.5 pips for the EURUSD currency pair, and a 4 percent commission for all lots. They accept M-Pesa for withdrawal and deposit options.

FXTM is a trusted and credible broker. It offers very competitive trading fees against major currency pairs. FXTM is also considered to be a low-risk trading environment due to its spread. FXTM is considered safe as it is regulated by FCA.


  •  Superb customer service
  • Great educational tools. Withdrawal and inactivity fees
  • Fast and digital account opening
  • Low fees for stock index CFDs
  • Low EURCHF/EURGBP fees
  • Credit/Debit card available
  • No deposit fee No price alerts


  • High stock CFD fees
  • High stock CFD fees
  • Limited product portfolio
  • Most withdrawal options charge
  •  No two-step (safer) login

5.  Exinity

Exinity is a trusted and credible broker offering regional services as well as local regulation by Kenya’s CMA. Xfinity offers Contracts for Difference (CFDs), and low spreads for multiple trading instruments.


  •  Excellent Trading Costs
  • Spreads starting at 0.0 Pips


  •  Limited Deposit Options
  •  Limited Withdrawal Options

 6. Scope Markets

Scope Markets’ trading spreads and fees are very competitive. Scope Markets is a well-regulated and safe broker, with a trust score of 90 (High Trust).


  •  Well-regulated by SA
  •  High Fund Security
  •  Dedicated Support


  • Spreads marked-up
  • Additional offerings
  •  A limited range of markets

Read Also:

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7. FXPesa

FXPesa is a trusted broker that offers Forex and CFD trading to Kenyan retail traders. The Capital Markets Authority of Kenya regulates it.


  • Fully licensed


  • Very High Spreads

8. Windsor Brokers

Windsor Brokers’ trading spreads and fees are very competitive. Windsor Brokersindsor bro is a well-regulated broker that has a trust score of 90 (High Trust).


  • Well-Established


  • Partly Offshore Regulated

 9.EGM Securities

EGM Securities is a trustworthy and credible broker. It offers competitive spreads and trading fees. EGM Securities has a trust score of 69/99.


  • MetaTrader 4 & 5
  • Regulated CMA


  • Limited Account types
  • US clients are not accepted

10. HotForex

HotForex is a reliable and secure broker that offers 24/5 education support. Hotforex is regulated and supervised by Tier 1 Trading Bodies and Tier 2. . Hotforex’s trust score is 90 out of 99.


  • Segregated client funds
  • Regulated by CySEC


  • A limited range of instruments
  • Not FCA Regulated


It is evident that the CMA Regulated forex brokers in Kenya offer a secure and reliable trading environment for investors. As such, traders are advised to consider these brokers when looking for a reputable and trustworthy trading partner. Furthermore, investors should always be aware of the risks associated with forex trading and ensure they have adequate risk management measures in place.

About Author

CMA regulated forex brokers in Kenya
Lovethy Precious
I’m a firm believer that information is the key to financial freedom. On Coindecimal Blog, I write about personal finance and crypto.

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