Best Forex Brokers in Kenya 2026

Last reviewed:January 15, 2026

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By:Emily Watson

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Fact-checked by:David Okonjo

Top 8 Brokers for Kenyan Traders in 2026

Kenya has one of Africa's most developed forex markets, regulated by the Capital Markets Authority (CMA). Our experts tested 40+ brokers to find the best forex brokers in Kenya for 2026. Exness leads our rankings with CMA License No. 162, instant M-Pesa deposits, and zero minimum. All recommended brokers offer MT4/MT5 platforms with local payment methods including M-Pesa, Airtel Money, and major Kenyan banks.

What is the best forex broker in Kenya for 2026?

Exness is the best forex broker in Kenya for 2026, offering CMA regulation (License No. 162), instant M-Pesa deposits and withdrawals, zero minimum deposit, and spreads from 0.0 pips. HFM and Pepperstone are also excellent CMA-licensed options.

Key Features for Kenyan Traders

Compare essential broker features including CMA licensing for Kenya.

Broker
Exness	None	KES 0
HFM	None	KES 0
FXTM	None	KES 1,000
XM	None	KES 500
AvaTrade	None	KES 10,000
Pepperstone	$3.50/lot	KES 0
IC Markets	$3.50/lot	KES 20,000
FP Markets	$3.00/lot	KES 10,000

Detailed Broker Analysis

Exness

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Recommended

CMA-regulated with instant M-Pesa.

4.6/5App Score

Exness (Tadenex Limited) holds CMA license No. 162 and offers instant M-Pesa deposits and withdrawals with zero fees. Zero minimum deposit makes it highly accessible.

Forex spread classUltra-Low

Minimum depositKES 0

Inactivity fee$0

Currency pairs107

Deposit methodsM-Pesa, Bank Transfer, Airtel Money

Withdrawal fee$0

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HFM

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Recommended

CMA-licensed with M-Pesa support.

4.3/5App Score

HFM holds CMA license No. 155 with excellent M-Pesa integration and no fees for Kenyan deposits or withdrawals. HFCopy allows following successful traders.

Forex spread classUltra-Low

Minimum depositKES 0

Inactivity fee$0

Currency pairs53

Deposit methodsM-Pesa, Bank Transfer

Withdrawal fee$0

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FXTM

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Recommended

Strong Kenyan presence.

4.2/5App Score

FXTM (Exinity Group) has a strong presence in Kenya with local seminars and support. M-Pesa integration for convenient mobile deposits.

Forex spread classLow

Minimum depositKES 1,000

Inactivity fee$5/mo

Currency pairs62

Deposit methodsM-Pesa, Bank Transfer

Withdrawal fee$0

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Pepperstone

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Recommended

Institutional-grade with CMA license.

4.5/5App Score

Pepperstone (CMA License No. 128) offers institutional-grade execution with instant M-Pesa support. Full TradingView integration available.

Forex spread classUltra-Low

Minimum depositKES 0

Inactivity fee$0

Currency pairs90

Deposit methodsM-Pesa, Visa, Mastercard

Withdrawal fee$0

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XM

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Recommended

Excellent education resources.

4.4/5App Score

XM offers comprehensive education and webinars for Kenyan traders. Multiple account types with competitive spreads.

Forex spread classLow

Minimum depositKES 500

Inactivity fee$5/mo

Currency pairs55

Deposit methodsSkrill, Neteller, Bank Transfer

Withdrawal fee$0

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AvaTrade

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Recommended

Multi-regulated and trusted.

4.3/5App Score

AvaTrade is regulated by CBI, FCA, and ASIC. Offers AvaTradeGO mobile app and copy trading via AvaSocial.

Forex spread classStandard

Minimum depositKES 10,000

Inactivity fee$50/3mo

Currency pairs55

Deposit methodsSkrill, Neteller, Bank Transfer

Withdrawal fee$0

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IC Markets

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Recommended

Best for scalping.

4.5/5App Score

IC Markets offers true ECN execution with spreads from 0.0 pips. Excellent for Kenyan scalpers and algorithmic traders.

Forex spread classUltra-Low

Minimum depositKES 20,000

Inactivity fee$0

Currency pairs61

Deposit methodsSkrill, Bank Transfer

Withdrawal fee$0

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FP Markets

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Recommended

ECN with tight spreads.

4.4/5App Score

FP Markets provides raw ECN spreads from 0.0 pips with ASIC and CySEC regulation. Professional trading conditions.

Forex spread classUltra-Low

Minimum depositKES 10,000

Inactivity fee$0

Currency pairs60

Deposit methodsSkrill, Bank Transfer

Withdrawal fee$0

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Frequently Asked Questions

Yes, forex trading is fully legal in Kenya and regulated by the Capital Markets Authority (CMA). Kenya has one of Africa's most developed forex regulatory frameworks. Always trade with CMA-licensed brokers for full legal protection.

The Capital Markets Authority (CMA) is Kenya's official financial regulator. Trading with a CMA-licensed broker ensures segregated funds, local dispute resolution, investor protection fund access, and compliance with Kenyan law.

CMA-regulated forex brokers in Kenya include: Exness (License No. 162), HFM (License No. 155), Pepperstone (License No. 128), FXPesa (EGM Securities), Scope Markets, and IC Markets. Always verify licenses on the CMA website.

Yes, Exness operates in Kenya through Tadenex Limited, which holds CMA License No. 162. They offer instant M-Pesa deposits/withdrawals and have a physical office in Nairobi.

Forex brokers accepting M-Pesa in Kenya include: Exness (instant processing), HFM (instant), Pepperstone, FXTM, FXPesa, and Scope Markets. Most offer zero fees for M-Pesa transactions.

To deposit via M-Pesa: 1) Login to your broker account, 2) Go to Deposit section, 3) Select M-Pesa as payment method, 4) Follow the STK push notification on your phone, 5) Enter your M-Pesa PIN. Exness and HFM process M-Pesa deposits instantly.

To withdraw to M-Pesa: 1) Login to your broker, 2) Go to Withdrawal, 3) Select M-Pesa, 4) Enter your Safaricom number, 5) Confirm withdrawal. Exness offers instant M-Pesa withdrawals. Most brokers process within 24 hours.

Yes! Most CMA-regulated brokers accept KES deposits via M-Pesa, Airtel Money, and local bank transfers (Equity Bank, KCB, Co-operative Bank). The amount is automatically converted to USD for trading.

Several CMA-regulated brokers have zero minimum deposits including Exness, HFM, and Pepperstone. XM requires KES 500 (about $4), and FXPesa requires KES 2,000 (about $15).

Exness, HFM, and Pepperstone all offer zero minimum deposit for Kenyan traders. This makes them ideal for beginners who want to start forex trading with small capital.

Yes! With KES 1,000 (about $8), you can open accounts with Exness, HFM, Pepperstone, or XM. For proper risk management, we recommend starting with at least KES 5,000-10,000.

To start forex trading in Kenya: 1) Learn basics through free courses, 2) Choose a CMA-regulated broker like Exness or HFM, 3) Open a demo account to practice, 4) Deposit small amount via M-Pesa (KES 1,000-5,000), 5) Start with EUR/USD. XM offers excellent education for beginners.

The best forex trading apps in Kenya are MT4 and MT5 (available from all CMA brokers), the Exness Trader app (with M-Pesa integration), and the HFM app. These apps support M-Pesa deposits and mobile trading.

Pepperstone and IC Markets offer the best MT4 experience in Kenya with fast execution and full EA support. Exness and HFM also provide reliable MT4 with M-Pesa integration.

Yes! All major CMA-regulated brokers offer MT5 including Exness, HFM, Pepperstone, FXTM, and IC Markets. MT5 has more features including more timeframes, order types, and better charting.

Exness, HFM, and Pepperstone all offer spreads from 0.0 pips on their Raw/Pro accounts. IC Markets also offers ultra-low ECN spreads. These accounts may charge a small commission per lot.

The London session (10:00 AM - 7:00 PM EAT) and New York session (3:00 PM - 12:00 AM EAT) offer the best liquidity. The overlap (3:00 PM - 7:00 PM EAT) is optimal for EUR/USD and GBP/USD trading.

HFM's HFCopy and Exness Social Trading are the best copy trading platforms for Kenyan traders. You can automatically copy successful traders with as little as $100.

Forex trading profits are generally taxed as income in Kenya under the Income Tax Act. The Kenya Revenue Authority (KRA) may require you to declare trading income. Consult a tax professional for specific guidance.

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Related Broker Categories

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Low Deposit Brokers Kenya

Brokers with deposits from KES 130. M-Pesa support.

M-Pesa Forex Brokers

Brokers with instant M-Pesa deposits.

Forex Brokers Kenya for Beginners

Best beginner-friendly CMA brokers with M-Pesa and education.

CMA Regulated Brokers

All CMA regulated forex brokers for Kenyan traders.

Best MT4 Brokers

Top brokers offering MetaTrader 4 platform.

Best Copy Trading Brokers

Copy successful traders automatically.

Risk Warning: Forex and CFD trading involves significant risk of loss and may not be suitable for all investors. You could lose more than your initial investment. 68-80% of retail investor accounts lose money when trading CFDs with most providers. Consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.

Not Financial Advice:

Information on this website is for educational and comparison purposes only. This does not constitute financial, investment, or trading advice. How we rank brokers →

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BrokerAnalysis may earn commissions from partners listed. This does not influence our rankings or analysis, which are based on our independent methodology.

Regional Availability Notice

Broker availability depends on your country of residence. Some brokers may not accept clients from certain jurisdictions including the USA, Canada, Japan, and others. The comparison table on this page shows country acceptance status. Please verify availability with the broker directly before proceeding.

Independent Analysis

Rankings based on verified data and hands-on testing. See our methodology →

Data Verified

January 2026

Trading Styles

Execution Model

Platform & Asset

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Top 8 Brokers for Kenyan Traders in 2026