Updated: 01/03/2024

Best Forex Brokers in Kenya

Best Forex Brokers in Kenya Forex Trading In Kenya As with most countries in Africa, forex…

Table of Contents

Best Forex Brokers in Kenya 2024

Pepperstone

  • Competitive spreads
  • Fast trade execution
  • Many trading platforms
  • Limited education
  • No fixed spread
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BlackBull

  • Robust trading technology
  • Multiple account types
  • Best Client Security
  • Limited education
  • High minimum deposit
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Vantage

  • Competitive spreads
  • Many Instruments
  • Many trading platforms
  • Limited education
  • High Minimum deposit
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AvaTrade

  • Many instruments
  • Friendly platforms
  • Multi-Regulated broker
  • Inactivity fees may apply
  • Limited educational resources
  • Customer support response varies
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XM

  • Low Trading Fees
  • High Bonuses
  • Copy Trading
  • Average forex and stock index CFD fees
  • No investor protection for non-EU clients
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Forex Trading In Kenya

As with most countries in Africa, forex trading has seen a significant increase in popularity across Kenya over the past few years. Although forex trading is not illegal in Kenya, it is considered a grey area, and local residents are advised to trade with a broker who is authorized by the Capital Markets Authority(CMA) in Kenya – https://www.cma.or.ke/

If you want to learn more about Forex trading and how it works, click here to visit our Beginners Guide to Forex.

Forex Regulation in Kenya

The Capital Markets Authority(CMA) is the regulatory body for all financial services and activities in Kenya. It was established in 1989 in the city of Accra. Nevertheless, it is not required to get authorization from the Capital Markets Authority of Kenya, in order to offer financial services and forex trading to the residents of Kenya.

However, it is advised to choose a regulated broker with a Tier 1 license like Cysec, FCA, FSCA, or ASIC to make sure your funds are protected.

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Chad Smith

Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com. Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it. Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.

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