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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
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$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
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

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