The ForexBrokers.com annual forex broker review (four 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.
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 2020
- Swissquote - Best banking services
- Saxo Bank - Best VIP client experience
- FOREX.com - Great platforms and pricing
- City Index - Excellent all around offering
- XTB - Best customer service, great platform
- Pepperstone - Numerous copy trading platforms
- HYCM (Henyep Markets) - 3.5 Stars
- easyMarkets - 3.5 Stars
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 Broker | Accepts KE Residents | Average Spread EUR/USD - Standard | Minimum Initial Deposit | Trust Score | Overall | Visit Site |
|---|---|---|---|---|---|---|
| IG | Yes | 0.700 | £250.00 | 99 | Visit Site | |
| Swissquote | Yes | N/A | $1000.00 | 99 | N/A | |
| Saxo Bank | Yes | 0.600 | $10,000.00 | 98 | N/A | |
| FOREX.com | Yes | 1.00 | $100.00 | 93 | Visit Site | |
| City Index | Yes | 0.800 | £50.00 | 93 | N/A | |
| XTB | Yes | 0.780 | $0.00 | 92 | N/A | |
| Pepperstone | Yes | 1.130 | $200.00 | 89 | N/A | |
| HYCM | Yes | N/A | $100 | 84 | N/A | |
| easyMarkets | Yes | 0.900 | $100.00 | 81 | N/A | |
| XM Group | Yes | 1.600 | $5-100 | 80 | N/A | |
| IC Markets | Yes | 1.100 | $200 | 80 | N/A | |
| ThinkMarkets | Yes | N/A | $250.00 | 79 | N/A | |
| Vantage FX | Yes | 1.400 | $100 | 79 | N/A | |
| ForexTime | Yes | 0.80 | $100 | 70 | N/A | |
| Alpari | Yes | 0.92 | $100.00 | 69 | N/A | |
| Instaforex | Yes | N/A | $1 | 69 | N/A | |
| OctaFX | Yes | 1.000 | $5 | 63 | N/A | |
| FX Choice | Yes | N/A | $100 | 54 | N/A |
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.
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Methodology
For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers. Each broker was graded on 105 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.
