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Best Forex Brokers Kenya for 2021

Steven Hatzakis

The ForexBrokers.com annual forex broker review (five years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.

Trading forex (currencies) in Kenya is popular among residents. While recommended, forex brokers are not required to become authorised by the Capital Markets Authority (CMA) to accept residents of Kenya as customers, unless based in Kenya.

The Capital Markets Authority is the financial regulatory body in Kenya. Website: https://www.cma.or.ke/. We also recommend that residents of Kenya follow the CMA on Twitter: https://twitter.com/cmakenya.

CMA

The CMA was established in 1989 and is responsible for supervising, licensing, and monitoring the activities of market intermediaries. For a historical breakdown, here's a link to the Capital Markets Authority webpage on Wikipedia.

Best Forex Brokers Kenya

To find the best forex brokers in Kenya, we created a list of all brokers that list Kenya as a country they accept new customers from. We then ranked brokers by their Trust Score Ranking.

Here is our list of the best forex brokers in Kenya.

  • IG - Best overall broker 2021, most trusted
  • Saxo Bank - Best for research, trusted global brand
  • Interactive Brokers - Great for professionals and institutions
  • City Index - Excellent all-round offering
  • XTB - Best customer service, great trading platform
  • FOREX.com - Great all-round offering
  • eToro - Best copy trading platform

Kenya Forex Brokers Comparison

Compare Kenya authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's ForexBrokers.com Trust Score.

Forex BrokerAccepts KE ResidentsAverage Spread EUR/USD - StandardMinimum Initial DepositTrust ScoreOverallVisit Site
OctaFXYes1.100$559 3.5 Stars N/A
BlackBull MarketsYes0.76$20070 3.5 Stars N/A
VT MarketsYes1.30$20079 3.5 Stars N/A
Vantage FX Yes1.350$20079 3.5 Stars N/A
Moneta MarketsYes1.300$200.0079 3.5 Stars N/A
easyMarketsYes0.900$100.0081 3.5 Stars N/A
FP MarketsYes1.140$100 AUD81 4 Stars N/A
HotForexYes1.20$5083 4 Stars N/A
HYCM Yes2.00$10084 3.5 Stars N/A
XM GroupYes1.600$5-10084 4 Stars N/A
IC MarketsYes0.800$20085 4 Stars N/A
FxProYes1.510$100.0089 4 Stars N/A
PepperstoneYes1.160$200.0092 4 Stars N/A
XTBYes0.860$0.0092 4.5 Stars N/A
AvaTradeYes0.910$100.0093 4 Stars N/A
FOREX.comYes1.400$100.0093 4.5 Stars Visit Site
City IndexYes1.100 £50.0093 4.5 Stars N/A
eToroYes1.00$50093 4 Stars Visit Site
Interactive BrokersYesN/A$094 4.5 Stars N/A
Saxo BankYes0.800$10,000.0099 5 Stars N/A
IGYes0.745£250.0099 5 Stars Visit Site

How to Verify CMA Authorisation

To find a list of authorized forex brokers, residents can download the list of licenses report from the Capital Markets Authority website to verify the authorisation of a broker.

More Forex Guides

Methodology

For our 2021 Forex Broker Review we assessed, rated, and ranked 27 international forex brokers. Each broker was graded on 108 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.

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Steven Hatzakis

About the author: Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.


Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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