de | cn | ru

Forex brokers in Kenya

As an emerging market with relative stability and solid regulatory regime, Kenya is becoming an attractive destination for retail brokers. Actually, legal framework for the online forex trading was introduced in this East African country several years ago. As a result, forex brokers in Kenya are now required to hold a license from the Capital Markets Authority (CMA), and to adhere to a certain set of rules. 
Companies wishing to require a forex broker license from the CMA should have 50 million Kenya Shilling, and maintain it, plus 5% of liabilities owed to its customers. They also have to keep 40 million Kenya Shilling or 80% of its capital (whichever is higher) in the form of cash and cash equivalent financial instruments at all times.
As regards foreign forex brokers wishing to operate in Kenya, they will also be required to maintain an equivalent of 40 million Kenya Shilling, of their capital reserves in financial instruments in the country.
Similarly to the laws in other jurisdictions, the Capital Markets Act of Kenya also impose a leverage restriction – the maximum leverage provided to retail clients should not be higher than 1:20.
Currently, there aren’t many brokers licensed by the Kenyan. Equiti group got a license from the CMA and operates in the country via its local brokerage brand EGM Securities. Of course, foreign dealers holding licenses from reputable regulators in other countries are also active in Kenya.

Forex brokers in Kenya

Broker Country Regulation Platforms Min.deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
UK FCA MT5 $5 Review Website

Related News

Kenya's Best Trader on ZuluTrade: Frings Forex

Oct 22 2013 12:32:40 in Signals

Today we'll set our sight on the country which has given us some of the best marathon runners, the fiercest lions and the Maasai warriors: you must have guessed already that we're talking about Kenya. Read more

Kenya To Record Strong Growth This Year: IMF

Sep 26 2012 10:01:02 in Market

A gradual easing of monetary policy in the coming months would help Kenya's economic growth to gather momentum, a report from the International Monetary Fund (IMF) said Wednesday. Read more

Kenya C Bank Lifts Lending Rate by 400 Bps to 11 Pct

Oct 05 2011 13:10:36 in Market

News:Kenya's C bank raised its lending rate by 400 bps to 11pct , higher than expected , adding it would revise the rate further if "inflation and exchange rate volatility do not abate". Read more

de | cn | ru