CMA Regulated Forex Brokers Kenya 2026 – Verified List

Last reviewed:January 15, 2026

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By:Edith Balazs

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Fact-checked by:Marcus Thompson

Why Trade with a CMA Regulated Broker?

Trading with a broker licensed by the Capital Markets Authority (CMA) serves as your primary protection against fraud. CMA regulated brokers in Kenya are required to segregate client funds, maintain sufficient capital, and have a physical office in Nairobi. We have verified the license status of the following brokers.

What is the Capital Markets Authority (CMA)?

The CMA is the government regulator responsible for supervising, licensing, and monitoring the activities of market intermediaries, including online forex brokers, in Kenya.

CMA License Details

Verify the official license entity and number.

Broker
Exness	Exness KE Limited	License No. 162
HFM	HFM Investments Limited	License No. 155
FXTM	Exinity East Africa Limited	License No. 135
Pepperstone	Pepperstone Markets Kenya Limited	License No. 128
Scope Markets	SCFM Limited	License No. 123
IC Markets	IC Markets (KE) Limited	License No. 199

Detailed Broker Analysis

Exness

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Recommended

#1 CMA Broker.

4.6/5App Score

Exness KE Limited is fully licensed by CMA. They offer the best trading conditions in Kenya with instant M-Pesa withdrawals.

Forex spread classUltra-Low

Minimum depositKES 130

Inactivity feeKES 0

Currency pairs107

Deposit methodsM-Pesa, Airtel Money

Withdrawal feeKES 0

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HFM

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Recommended

Popular & Trusted.

4.3/5App Score

HFM (formerly HotForex) has a strong local presence in Nairobi. CMA licensed and offers excellent copy trading services.

Forex spread classUltra-Low

Minimum depositKES 0

Inactivity fee$5/mo

Currency pairs53

Deposit methodsM-Pesa, Bank Transfer

Withdrawal feeKES 0

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Pepperstone

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Recommended

Professional Choice.

4.5/5App Score

Pepperstone Markets Kenya Limited brings world-class ECN trading to Kenya under local CMA regulation.

Forex spread classUltra-Low

Minimum depositKES 0

Inactivity feeKES 0

Currency pairs97

Deposit methodsM-Pesa, Bank Transfer

Withdrawal feeKES 0

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FXTM

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Recommended

Education Leader.

4.4/5App Score

Operated by Exinity East Africa Limited (CMA licensed). FXTM is known for its superior educational resources.

Forex spread classStandard

Minimum depositKES 1300

Inactivity fee$5/mo

Currency pairs62

Deposit methodsM-Pesa, Bank Transfer

Withdrawal feeKES 0

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Scope Markets

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Recommended

Home-Grown Broker.

3.9/5App Score

Scope Markets (SCFM Limited) is a prominent local broker in Kenya offering reliable trading services.

Forex spread classStandard

Minimum depositKES 1300

Inactivity feeKES 0

Currency pairs60+

Deposit methodsM-Pesa, Bank Transfer

Withdrawal feeKES 0

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IC Markets

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Recommended

Raw Spreads.

4.5/5App Score

IC Markets (KE) Limited offers true ECN spreads. Best for automated trading strategies.

Forex spread classUltra-Low

Minimum depositKES 26000

Inactivity feeKES 0

Currency pairs61

Deposit methodsBank Transfer, PayPal

Withdrawal feeKES 0

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Frequently Asked Questions

The CMA is the government regulator responsible for supervising, licensing, and monitoring the activities of market intermediaries, including online forex brokers, in Kenya.

You can verify a broker's license by visiting the official CMA website (cma.or.ke) and checking the list of licensed 'Non-Dealing Online Foreign Exchange Brokers'.

Yes, CMA regulations require brokers to segregate client funds from their own operating funds, ensuring your money is protected if the broker goes bankrupt.

Most CMA regulated brokers like Exness, HFM, Pepperstone, and Scope Markets accept M-Pesa. It is the industry standard for payments in Kenya.

Why Trust BrokerAnalysis?

Our reviews are built using verified broker data, regulatory records, and hands-on testing. Rankings are updated regularly and are not influenced by paid placements.

Our Methodology Meet Our Team

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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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

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Why Trade with a CMA Regulated Broker?