Top 8 Locally Based Brokers
Exness Account Types
Overall, Exness is considered low risk, with an overall Trust Score of 97% out of 100. Exness offers five retail investor accounts as well as demo and Islamic accounts. Exness has a sign-up bonus of $10 USD / 1 148 KES offered to first-time traders
- Louis Schoeman
Jump to:
Account Types Overview
Account Types
Account Features
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.9/5
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Exness Account Types – 9 key points quick overview:
Exness Overview
👉 Overall, Exness is considered low-risk, with an overall Trust Score of 97 out of 100. Exness is licensed by one Tier-1 Regulator (high trust), two Tier-2 Regulators (average trust), and four Tier-3 Regulators (low trust). Exness offers five different retail trading accounts namely a Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, and Pro Account.
👉 Exness has been in business for 14 years and it now has over 340,000 registered members all around the globe. This demonstrates how swiftly and effectively the broker has gained control of the market.
👉 In 2008, Exness was established, and almost immediately thereafter, it started its lightning-fast expansion. Exness is committed to maintaining the highest level of financial openness possible and publishes the company’s financial disclosures on its website.
👉 The broker also offers a minimum deposit requirement of just 1,100 KES, making it very accessible to new traders who are just starting their trading journey.
👉 MetaTrader 4 and MetaTrader 5 are available for Windows, Mac, Linux, Android, and iOS systems, and there is also a mobile application available for both Android and iOS. Exness provides a diverse range of trading platforms, from which customers may choose the one that best meets their needs.
👉 In addition, Exness provides access to a total of 278 popular traded assets, among which are 100 forex pairs.
👉 In addition, traders are provided with free VPS hosting, the most recent financial news from the Dow Jones, a trader’s calculator, and a currency converter.
👉 The staggering amount of trading volume that Exness completes every year is a clear indicator of the company’s meteoric rise, as can be seen in the graph below.
👉 In 2015, Exness was responsible for more than $2.33 trillion worth of foreign exchange operations that were conducted via its worldwide network of customers.
👉 In July 2023, Exness reported an overall trading volume of $2.2 trillion, with a total of $984.9 million in client withdrawals and $88.6 million in partner rewards for the second quarter of the year.
👉 Exness has clients from around the world and these areas have the largest distributions:
➡️ Thailand – 32.8%
➡️ Vietnam – 21.8%
➡️ India – 12.2%
➡️ Philippines – 7.06%
➡️ South Africa – 5.2%
Exness At a Glance
| 🏛️ Headquartered | Cyprus, with offices in United Kingdom, Seychelles, South Africa, the British Virgin Islands, and Curaçao |
| 🏛️ Kenyan Based Office | No |
| 👍 Accepts Kenyan Traders? | Yes |
| 📅 Year Founded | 2008 |
| 📱 Kenyan Office Contact Number | None |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, Seychelles |
| 🔎License Number | Seychelles – SD025 Curaçao – 0003LSI British Virgin Islands – SIBA/L/20/1133 Mauritius – GB20025294 South Africa – FSP 51024 Cyprus – 178/12 United Kingdom – 730729 |
| ⚖️ CBN Regulation | None |
| ✴️ Regional Restrictions | The United States |
| ☪️ Islamic Account | Yes |
| 📈 Demo Account | Yes |
| 📈 Retail Investor Accounts | 5 |
| 🚀 Offers a Kenyan Account? | Yes |
| 💻 Dedicated Kenyan Account Manager? | Yes |
| 📈 Maximum Leverage | Unlimited |
| 📈 Leverage Restrictions for Kenya? | No |
| 💳 Minimum Deposit (₦) | 41,000 (or equivalent to $10) |
| 💳 Kenyan Naira Deposits Allowed? | Yes |
| 💰 Active Kenyan Trader Stats | 1.3 million |
| Active Kenyan-based Exness customers | 1,000+ |
| 💰 Kenya Daily Forex Turnover | $1.25 million+ |
| 💳 Deposit and Withdrawal Options | Bitcoin Debit Card Credit Card Internet Banking Skrill Neteller Perfect Money Tether (USDT OMNI) WebMoney Mybux Ozow |
| 💰 Segregated Accounts with Kenyan Banks? | Yes |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app |
| 💰 Tradable Assets | Forex Metals Crypto Energies Indices Stocks |
| 🌐 Offers USD/NGN currency pair? | No |
| 🌐 USD/NGN Average Spread | N/A |
| 📈 Offers Kenyan Stocks and CFDs | No |
| 👨💼 Languages supported on Website | English, French, Indonesian, Portuguese, Spanish, Vietnamese, Arabic, Thai, Chinese (Simplified), Japanese, Korean, Urdu, Bengali, Hindi |
| 👥 Customer Support Languages | Multilingual |
| 👥 Customer Service Hours | 24/7 |
| 👥 Kenyan-based customer support? | No |
| 💰 Bonuses and Promotions for Kenyans | None |
| ✴️Education for Kenyan beginners | No |
| 📊 Proprietary trading software | Yes |
| 💰 Most Successful Kenyan Trader | Uche Paragon ($20 million net worth) |
| ✔️Is Exness a safe broker for Kenyans? | Yes |
| ✔️Rating for Exness Kenya | 8/10 |
| ✔️Trust score for Exness Kenya | 97% |
| 👉 Open an account | 👉 Open Account |
Exness Account Types
👉 Exness is a well-known worldwide broker that provides a total of five distinct trading accounts, including one of the most cost-effective Cent Accounts in the business.
👉 In addition, Exness enables Kenyan investors to create trading accounts in KES and provides access to over one hundred different currency pairings, far more than most other brokers. The live accounts that Kenyans can expect are:
➡️ Standard Account
➡️ Standard Cent Account
➡️ Raw Spread Account
➡️ Zero Account
➡️ Pro Account
| 💻 Live Account | 💳 Minimum Dep. | 📊 Average Spread | 💸 Commissions | 💰 Average Trading Cost |
| Standard | 1,100 KES/$10 | 0.3 pips | None | 10 USD |
| Standard Cent | 1,100 KES/$10 | 0.3 pips | None | 10 USD |
| Raw Spread | 59,700 KES or $500 | 0.0 pips | $3.5 | 7 USD |
| Zero | 59,700 KES or $500 | 0.0 pips | $0.1 | 7 USD |
| Pro | 59,700 KES or $500 | 0.0 pips | None | 6 USD |
Exness Account Features
Standard Account
👉 A standard account is an account that is suitable for any trader, regardless of experience level, skill level, or trading style. They are the most common kind of account offered by the vast majority of forex and CFD brokers nowadays.
| Account Feature | Value |
| 💳 Minimum Deposit Requirement | 41,500 Kenyan Naira |
| 📈 Spreads | Variable, from 0.3 pips |
| 💰 Commission Charges | None |
| 📈 Maximum Leverage offered | Unlimited leverage |
| 📊 Instruments Available | Forex major pairs, minor currency pairs, exotic pairs, energies, cryptocurrencies, stocks, indices |
| 📊 Minimum lot size | 0.01 lot |
| 📈 Maximum Lot Size | 200 lots from 7 am to 8h59 pm (GMT +0) 20 lots from 9 pm to 6h59 am (GMT +0) |
| 📈 Maximum positions | Unlimited |
| ✴️ Hedged Margin (%) | 0 |
| ✴️ Margin Call (%) | 60 |
| 🔎 Stop-out Level (%) | 0 |
| 📊 Order Execution | Market Execution |
| ☪️ Islamic Account | Yes |
Standard Cent Account
👉 This account is well suited for novice traders who want to develop a feel for the market but are unwilling to risk their own funds.
👉 This account is also suitable for experienced traders who wish to test their trading techniques in real-time market circumstances without the danger of losing money.
| Account Feature | Value |
| 💳 Minimum Deposit Requirement | 41,500 Kenyan Naira |
| 📈 Spreads | Variable, from 0.3 pips |
| 💰 Commission Charges | None |
| 📈 Maximum Leverage offered | Unlimited leverage |
| 📊 Instruments Available | Forex, Metals |
| 📊 Minimum lot size | 0.01 lot |
| 📈 Maximum Lot Size | 200 lots from 7 am to 8h59 pm (GMT +0) 20 lots from 9 pm to 6h59 am (GMT +0) |
| 📈 Maximum positions | 1000 |
| ✴️ Hedged Margin (%) | 0 |
| ✴️ Margin Call (%) | 60 |
| 🔎 Stop-out Level (%) | 0 |
| 📊 Order Execution | Market Execution |
| ☪️ Islamic Account | Yes |
Raw Spread Account
👉 A raw spread account is perfect for a variety of trading strategies, including scalping, day trading, and algorithmic trading, amongst others.
| Account Feature | Value |
| 💳 Minimum Deposit Requirement | 208,100 Kenyan Naira |
| 📈 Spreads | Variable, from 0.0 pips |
| 💰 Commission Charges | Up to $3.5 per side, per lot |
| 📈 Maximum Leverage offered | Unlimited leverage |
| 📊 Instruments Available | Forex, metals, cryptocurrencies, energies, stocks, indices |
| 📊 Minimum lot size | 0.01 lot |
| 📈 Maximum Lot Size | 200 lots from 7 am to 8h59 pm (GMT +0) 20 lots from 9 pm to 6h59 am (GMT +0) |
| 📈 Maximum positions | Unlimited |
| ✴️ Hedged Margin (%) | 0 |
| ✴️ Margin Call (%) | 30 |
| 🔎 Stop-out Level (%) | 0 |
| 📊 Order Execution | Market Execution |
| ☪️ Islamic Account | Yes |
Zero Account
👉 The Zero Account ensures market execution with no requotes, and it also provides Kenyan traders with the lowest fees possible together with the narrowest spreads available in the industry.
| Account Feature | Value |
| 💳 Minimum Deposit Requirement | 208,100 Kenyan Naira |
| 📈 Spreads | Variable, from 0.0 pips |
| 💰 Commission Charges | From $0.1 per side, per lot |
| 📈 Maximum Leverage offered | Unlimited leverage |
| 📊 Instruments Available | Forex, metals, cryptocurrencies, energies, stocks, indices |
| 📊 Minimum lot size | 0.01 lot |
| 📈 Maximum Lot Size | 200 lots from 7 am to 8h59 pm (GMT +0) 20 lots from 9 pm to 6h59 am (GMT +0) |
| 📈 Maximum positions | Unlimited |
| ✴️ Hedged Margin (%) | 0 |
| ✴️ Margin Call (%) | 30 |
| 🔎 Stop-out Level (%) | 0 |
| 📊 Order Execution | Market Execution |
| ☪️ Islamic Account | Yes |
Pro Account
👉 Kenyan traders who have the most comprehensive grasp of the financial sector are the target audience for the Professional Accounts.
| Account Feature | Value |
| 💳 Minimum Deposit Requirement | 208,100 Kenyan Naira |
| 📈 Spreads | Variable, from 0.1 pips |
| 💰 Commission Charges | None |
| 📈 Maximum Leverage offered | Unlimited leverage |
| 📊 Instruments Available | Forex, metals, cryptocurrencies, energies, stocks, indices |
| 📊 Minimum lot size | 0.01 lot |
| 📈 Maximum Lot Size | 200 lots from 7 am to 8h59 pm (GMT +0) 20 lots from 9 pm to 6h59 am (GMT +0) |
| 📈 Maximum positions | Unlimited |
| ✴️ Hedged Margin (%) | 0 |
| ✴️ Margin Call (%) | 30 |
| 🔎 Stop-out Level (%) | 0 |
| 📊 Order Execution | Instant Execution on Forex currency pairs, metals, energies, stocks, and indices and market execution on cryptocurrencies |
| ☪️ Islamic Account | Yes |
Exness Demo Account
👉 Trading on financial markets exposes investors to a certain level of risk. However, Exness provides its customers with a risk-free trading platform on which they can test trading strategies.
👉 With this practice account, Kenyans can also engage in trading simulations, and investigate the services provided by the broker in a protected setting that replicates real market conditions.
👉 At Exness, you can expect a trading environment that is regulated and safe. Here, you may open a demo account to try out different trading strategies, or you can open a real account to begin participating in the currency markets.
👉 In addition to providing current financial news from Dow Jones, Exness also provides a free Demo account, a comprehensive assortment of teaching tools, and Web TV that displays the most recent updates.
Exness Islamic Account
👉 Forex traders can keep their trading positions open for more than 24 hours on a trading day. This length of time is determined by the trading style and trading strategy of the forex trader.
👉 This indicates that the trader may be responsible for paying an overnight or rollover charge. As a result of the fact that this type of interest is forbidden under the Riba principles of Sharia law, Muslim traders often face restrictions while engaging in forex trading.
👉 Exness makes the Islamic Account option accessible on all its live trading accounts. This makes it possible for Muslim traders of any experience level and with any trading objective to participate in a range of financial markets without the risk of being exposed to diverse types of interest.
Overall Rating
- 4.9/5
Min Deposit
USD 10 / 1156 KES
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Exness Kenya Pros and Cons
| ✔️ Pros | ❌ Cons |
| Exness is well-regulated by several reputable market regulators across the globe | United States clients are excluded from Exness’ global reach |
| There are tight, variable spreads offered across five retail investor accounts | There is a limited selection of tradable instruments offered |
| There is a choice between dynamic retail investor accounts, each featuring competitive trading conditions | There is a limited selection of funding options offered |
| The broker offers solutions to both novice traders and professionals | |
| There are advanced trading tools offered | |
| Provides a powerful proprietary platform on the web and mobile devices | |
| Client fund safety and investor protection guaranteed | |
| Instant withdrawals and deposits supported | |
| Exness offers multilingual customer service that is available 24/7 |
Verdict on Exness
👉 Overall, Exness is very competitive in terms of its trading fees and spreads.
FAQ
Is Exness a legit broker?
Yes, Exness is a legit broker as it is well-regulated in several regions by Tier-1, Tier-2, and Tier-3 regulators.
Which account types can I register with Exness?
You can register the following Exness accounts:
Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account and Exness Islamic Account.
Is Exness good for beginners?
Yes, Exness is beginner-friendly but does not offer education, which means that Kenyans must seek educational materials elsewhere when they choose Exness.
How much is the minimum deposit for Exness?
The Exness minimum deposit is 1,100 KES / 10 USD on the Standard and Standard Cent Accounts. The three advanced accounts have a minimum deposit of 59,700 KES / 500 USD.
Does Exness make provision for practice trading?
Yes, a free Exness demo account for the purpose of practice trading is available.
