Top 8 Locally Based Brokers
8 Best CySEC Regulated Forex Brokers in Kenya
The 8 Best CySEC-Regulated Forex Brokers in Kenya revealed. We tested and verified the best CySEC-Regulated forex brokers for Kenyan Traders.
This is a complete guide to CySEC-Regulated forex brokers in Kenya.
In this in-depth guide you’ll learn:
- What is the Cyprus Securities and Exchange Commission (CySEC)?
- Why traders in Kenya should sign up with a CySEC-regulated broker?
- Who are the best CySEC-Regulated forex brokers for Kenyans in 2023?
- How to choose a forex broker – Compare them against each other.
- Which broker offers a welcome sign-up bonus for first-time traders?
- Why CySEC-regulation is important?
- Which broker offers a low minimum deposit of $5 (584 KES)?
- Which broker accepts M-PESA?
And lots more…
So if you’re ready to go “all in” with the best-tested CySEC-Regulated forex brokers for Kenyans…
Let’s dive right in…
- Louis Schoeman
Best CySEC Regulated Forex Brokers in Kenya
| 🥇 Broker | ✔️ CySEC Broker? | 💰 Minimum Deposit? | 💸 Kenyan Shilling (KES) Deposits Allowed? | 👉 Open Account |
| 1. Exness | Yes | $1 (116 KES) | Yes | 👉 Open Account |
| 2. AvaTrade | Yes | $100 (11635,00 KES) | Yes | 👉 Open Account |
| 3. HF Markets | Yes | $5 (580 KES) | Yes | 👉 Open Account |
| 4. Tickmill | Yes | $100 (11,400 KES) | No | 👉 Open Account |
| 5. FBS | Yes | $5 (580 KES) | No | 👉 Open Account |
| 6. Pepperstone | Yes | $150 (17 506 KES) | No | 👉 Open Account |
| 7. OctaFX | Yes | $100 (11635,00 KES) | Yes | 👉 Open Account |
8 Best CySEC Regulated Forex Brokers in Kenya (Updated 2023)
- Exness – Overall, Best CySEC Regulated Broker in Kenya
- AvaTrade – Top Volatility 75 / ViX 75 Broker
- HF Markets – User-Friendly CySEC Regulated Minimum Deposit Broker
- Tickmill – Verified Forex Broker for Beginner Traders
- FBS – Top CySEC Regulated Broker with Lowest Spreads
- Pepperstone – Best ECN Forex Broker for Kenyan Traders
- OctaFX – Best CySEC Regulated STP Broker
- BD Swiss – Verified MetaTrader 5 / MT5 Broker in Kenya
What is CySEC regulated forex brokers?
👉 CySEC regulated forex brokers are authorized and regulated by the Cyprus Securities and Exchange Commission.
👉 CySEC aims to protect traders via efficient monitoring. CySEC is a public body that was created in 2001 and since Cyprus became a member of the European Union in 2004 CySEC rules and activities are aligned with the regulatory standards set by the European financial regulatory framework.
1. Exness
Overall Rating
- 4.9/5
Total Pairs
107
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Exness is a low-risk CFD and Forex broker that is regulated and authorised by several authorities. Exness provides not just dynamic and adaptable account kinds, but also some of the most advantageous trading conditions in the industry.
👉 Exness was created in 2008 and traders now have access to over 200 financial products, a variety of retail account types, and a wealth of resources.
👉 Despite the fact that it is not yet authorised by the Capital Markets Authority (CMA) in Kenya, Exness is one of the most popular brokers. It is however properly authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).
👉 The Exness Group’s website has been translated into 18 languages, and customer assistance is available in 13 languages 24 hours a day, seven days a week.
👉 In addition, users have access to leverage, which can substantially lower margin requirements and permit more flexible management of trading strategies.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| 📱 Social Media Platforms | • Facebook • YouTube |
| 💻 Trading Accounts | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app |
| 💰 Minimum Deposit | 1 USD (116 KES) |
| ✅ Tradable Assets | Forex, Metals, Crypto, Energies, Indices, Stocks |
| 📉 Minimum spread | From 0.0 pips EUR/USD |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| Exness is well-regulated and keeps all client funds in segregated accounts with top-tier institutions | Exness offers a limited number of payment methods for deposits and withdrawals |
| Traders can choose between several retail investor accounts | Exness only offers a limited portfolio of financial instruments to traders |
| Exness offers an Islamic account conversion with no additional fees charged | |
| Instant deposits and withdrawals are offered | |
| Exness has customer support available 24 hours a day, 7 days a week |
Trust Score
🥇 Exness has a trust score of 97%.
2. AvaTrade
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 11560 KES
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 AvaTrade was started in 2006 as a global broker for CFDs and FX. AvaTrade is regulated by financial watchdogs in Europe, the British Virgin Islands, Australia, Japan, and South Africa as well as properly authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC).
👉 To meet their own standards, the company’s AvaTradeGO app can be used anytime, anywhere, and has an easy-to-use interface and new tools for traders to use.
👉 AvaTrade has grown a lot over the years it has been in business. It now has more than 200,000 registered customers around the world who make more than two million trades every month.
👉 Even though the Capital Markets Authority (CMA) in Kenya has not licensed or regulated AvaTrade and the broker does not have a local office in Nairobi, AvaTrade is a trusted and highly recommended broker for Kenyan traders who want to trade on the global financial markets.
Unique features
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC |
| 📱 Social Media Platforms | • Twitter • YouTube |
| 💻 Trading Accounts | Standard and Options accounts |
| 📊 Trading Platform | • AvaTradeGO • AvaOptions • AvaSocial • MetaTrader 4 • MetaTrader 5 • DupliTrade • ZuluTrade |
| 💰 Minimum Deposit | Equivalent to $100 – 11635,00 KES |
| ✅ Tradable Assets | • Forex • Metals • Crypto • Energies • Indices • Stocks |
| 💵 Trading Assets | Equivalent to $100 – 11635,00 KES |
| 📉 Minimum spread | From 0.9 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| AvaTrade is an internationally recognised and award-winning broker that is regulated in multiple jurisdictions. | The demo account is only available for a period of thirty days. |
| The broker enables customers to choose from a variety of trading strategies, providing Kenyan investors with flexibility. | The spreads are not at their most competitive levels. |
| A demo account is available for both inexperienced and seasoned traders to use. | On inactive accounts, administrative fees come in the form of inactivity fees, which must be paid. |
| AvaTrade provides Muslim traders with trading circumstances based on Islamic law. | Retail traders have access to a relatively low ratio of leverage. |
| Both social trading and trading in cryptocurrencies are supported. | |
| The services provided by AvaTrade will meet the needs of Kenyan merchants of all experience levels, to their complete satisfaction. | |
| Different trading platforms accessible, accessed from a variety of devices. | |
| Traders just starting out have access to a variety of learning resources that can help them expand their expertise and knowledge. |
Trust score
🥇 The trust score for AvaTrade is 93%.
3. HF Markets
Overall Rating
- 4.8/5
Min Deposit
USD 0 / 0 KES
Regulators
CMA, CySEC, FSC, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5, HFM Trading App
Crypto
No
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 HF Markets, formerly known as HotForex, is a low-risk CFD and forex broker for Kenyan traders, with an overall rating of 9/10 for trading conditions, retail investor accounts, client fund security, and customer support.
👉 HF Markets is well-regulated by several reputable entities including the Cyprus Securities and Exchange Commission (CySEC), and the Capital Markets Authority (CMA) in Kenya recently granted a license to HFM Investments Limited, a subsidiary of the brokerage company.
👉 HF Markets provides MetaTrader 4 and MetaTrader 5trading platforms. Each retail trading account has its own set of features and trading conditions to accommodate traders with varying trading styles, trading abilities, and investment objectives. HF Markets has won over 55 forex industry awards in the last decade and has over 2.5 million active accounts.
Unique Features
| Feature | Information |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| 📱 Social Media Platforms | • Facebook • Telegram • YouTube |
| 💻 Trading Accounts | Micro Account, Premium Account, HF copy Account, Zero Spread Account, Auto Account |
| 📊 Trading Platform | MetaTrader 4 and MetaTrader 5 |
| 💰 Minimum Deposit | 5 USD or 580 KES |
| 💵 Trading Assets | Forex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| ✔️ Kenyan Shilling-based Account? | No |
| 💵 KES Deposits Allowed? | Yes |
| 💸 Bonuses for Kenyan traders? | Yes |
| 📉 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| Tight, competitive spreads from 0.0 pips on EUR/USD are offered | HF Markets only offers a few deposit and withdrawal methods to Kenyans |
| Kenyan traders have access to MetaTrader 4 and 5 across desktops, mobile apps, and web-based platforms | |
| A demo account is available for beginners who are learning to trade and professional traders who are testing strategies | |
| Kenyan traders can register a trading account in either USD, ZAR, or NGN | |
| Several asset classes can be traded through HF Markets |
Trust Score and Kenyan Market Share
🥇 HF Markets has a trust score of 83% and a Kenyan market share of 2.5%.
4. Tickmill
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 11560 KES
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Tickmill is a low-risk option for Kenyan traders because of its 81% trust score. While the broker is not publicly traded, Tickmill is well-regulated by reputable entities such as Seychelles FSA, FCA, the Cyprus Securities and Exchange Commission (CySEC), Labuan FSA, and FSCA.
👉 Despite its lack of regulation through the Capital Markets Authority (CMA) in Kenya, traders can trust Tickmill. There are just a few tradeable securities available with Tickmill, a standard MetaTrader broker. Tickmill’s VIP and Pro accounts do provide highly attractive commission-based pricing for pros.
👉 Tickmill also provides traders with a wide range of trading tools and instructional resources, including various professional yet simple-to-use trading platforms. Tickmill offers a wide range of CFD currency, stock, commodity, and index CFDs.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| 💻 Trading Accounts | Pro Account, Classic Account, VIP Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5 |
| 💰 Minimum Deposit | 100 USD or 11635 KES |
| ✅ Trading Assets | Forex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies |
| ✔️ Deposits Allowed | USD, GBP, EUR, IDR, CNY, VND, or RUB |
| 📉 Minimum spread | From 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| Tickmill offers robust trading platforms and innovative mobile trading | Tickmill spreads are not the tightest |
| Tickmill has a very high trust score and is known for its competitive trading conditions | Currency conversion fees will apply for foreign deposits |
| Advanced traders can use a range of tools including FIX API, AutoChartist, VPS, and others | No fixed spread accounts are offered |
| There are several convenient funding options available including Skrill, Neteller, and more |
Trust Score
🥇 Tickmill has a trust score of 81%
5. FBS
Overall Rating
- 4.7/5
Min Deposit
USD 1 / 116 KES
Regulators
IFSC, FSCA (South africa), ASIC, CySEC
Trading Desk
MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Welcome Bonus
$140 (16 373 KESFind out More)
Account Activation Time
24 Hours
Overview
👉 FBS provides a wide range of trading accounts as well as an innovative and powerful proprietary trading app. FBS charges low, competitive fees, and traders can be confident that their clients’ funds are secure.
👉 While FBS is not regulated by Kenya’s Capital Markets Authority (CMA), the broker is still an excellent choice for Kenyan traders regardless of trading experience or style.
👉 FBS is regulated in over 150 countries by CySEC, ASIC, FSCA, and IFSC, giving traders confidence that the broker is legitimate. FBS processes data using a combination of Straight Through Processing and an Electronic Communications Network.
👉 FBS has been operating as an international CFD broker since 2009. Aside from the low minimum deposit requirements, FBS traders have access to a vast library of educational videos, webinars, and articles. FBS can accommodate any type of trader because it offers a wide range of account options.
Unique Features
| Feature | Information |
| ⚖️ Regulation | CySEC, IFSC |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| 💻 Trading Accounts | FBS Cent Account, FBS Micro Account, FBS Standard Account, FBS Zero Account, FBS ECN Account, FBS Crypto Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, XM Mobile App |
| 💰 Minimum Deposit | 5 USD or 580 KES |
| ✅ Trading Assets | Forex, Precious Metals, Indices, Energies, Stocks, Exotic Forex, Cryptocurrencies |
| ✔️ Kenyan Shilling-based Account? | No |
| 💸 KES Deposits Allowed? | No |
| 📉 Minimum spread | From 0.1 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| FBS is well-regulated and offers competitive trading conditions | The demo account is only available for 40 days |
| Traders can choose between a range of FBS trading accounts | FBS only supports a few methods for deposits and withdrawals |
| Both a demo and an Islamic account are offered to traders | There are withdrawal and deposit fees applied |
| FBS offers customer support 24/7 | Inactivity fees apply |
| FBS offers a range of bonuses and promotions to new and existing clients |
Trust Score
🥇 FBS has a trust score of 75%.
6. Pepperstone
Overall Rating
- 4.1/5
Min Deposit
USD 10 / 1156 KES
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader and TradingView
Crypto
No
Total Pairs
60+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Trading margined products carries a high level of risk. Pepperstone Markets Kenya Limited, CMA Licence No. 128
Overview
👉 Pepperstone is known for its exceptional client service and extensive selection of third-party platforms.
👉 Founded in 2010, Pepperstone Markets is a prominent CFD, and forex broker based in Kenya while the Pepperstone group is based in Australia. Pepperstone Markets is a multi-location broker that adheres to tight rules with offices based around the world, including in Nairobi, Kenya. In Kenya, the Capital Markets Authority (CMA) has granted Pepperstone Markets Kenya Limited a license to operate. It is also properly authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC).
👉 Pepperstone Markets is capable of handling multiple order fills, allowing them to feed bigger orders into a liquidity aggregator on numerous levels. Orders placed by clients are filled on a “market execution” basis without requotes, with the possibility of positive or negative slippage, and without broker interference.
Unique Features
| Feature | Information |
| ⚖️ Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB |
| 📱 Social Media Platforms | • Facebook • YouTube |
| 💻 Trading Accounts | Standard account, Razor Account, Professional Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade |
| 💰 Minimum Deposit | 150 USD |
| ✅ Trading Assets | • Forex • Cryptocurrencies • Shares • ETFs • Indices • Commodities • Currency Indices |
| ✔️ Kenyan Naira-Based Account | No |
| 💳 Bonuses for Kenyan traders? | No |
| 📉 Minimum spread | from 0.0 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| Pepperstone caters for traders of all trading experience or style | Leverage restrictions apply |
| Pepperstone is a multi-regulated and multi-award-winning broker | Additional fees applied to the Islamic account |
| Pepperstone ensures client fund security by keeping it in segregated accounts | |
| Pepperstone accepts Kenyan traders and provides enough educational material for beginners | |
| Demo account and Islamic account offered | |
| Several funding options offered | |
| No deposit fees and withdrawal fees charged |
Trust Score and Kenyan Market Share
🥇 Pepperstone has a very high trust score of 92% and a market share of <5% in Kenya.
7. OctaFX
Overall Rating
- 4.6/5
Min Deposit
USD 5 / 578 KES
Regulators
FCA UK
Trading Desk
None
Crypto
Yes
Total Pairs
28
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 OctaFX is regarded as a dependable broker because of its low required minimum deposit, commission-free trading, and the availability of an unlimited practice account. Even though the Capital Markets Authority (CMA) in Kenya does not regulate OctaFX, the broker is properly authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) and is regarded as a good choice for Kenyan traders.
👉 OctaFX was founded in 2011 and has since been recognized with more than 28 different distinctions. OctaFX’s mission is to keep trading costs as low as possible while simultaneously achieving a slip-free execution rate.
👉 This OctaFX review can equip traders with the information they require to make an informed decision regarding whether or not the broker meets their specific trading goals and requirements.
Unique Features
| Feature | Information |
| ⚖️ Regulation | Financial Services Authority in Saint Vincent and the Grenadines (SVG FSA), and Cyprus Securities and Exchange Commission (CySEC) |
| 📱 Social Media Platforms | • Facebook • YouTube • Telegram |
| 💻 Trading Accounts | MetaTrader 4 Habitual Trader Account, MetaTrader 5 Smart Trader Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5 |
| 💰 Minimum Deposit | 11635 KES or 100 USD |
| ✅ Trading Assets | Forex Currency Pairs, Index CFDs, Commodities, Cryptocurrencies |
| ✔️ Kenyan Shilling-based Account? | No |
| 💵 KES Deposits Allowed? | No |
| 💸 Bonuses for Kenyan traders? | Yes |
| 📉 Minimum spread | From 0.6 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| OctaFX accommodates all types of traders in a transparent and safe trading environment | Offshore broker with tier-2 regulation |
| OctaFX offers reliable, instant deposits and withdrawals | A limited selection of trading instruments offered |
| Commission-free trading is offered on all retail investor accounts along with tight spreads | There is a limited selection of retail accounts |
| The broker offers copy trading accounts through a proprietary trading app | Limited options for base currencies on accounts |
| Offers an Islamic Account for Muslim traders | |
| Offers social trading opportunities | |
| A range of advanced trading tools available | |
| OctaFX offers versatile and reliable payment methods for deposits and withdrawals |
Trust Score
🥇 OctaFX has a trust score of 61%.
8. BD Swiss
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 11660 KES
Regulators
CySec, FSC, FSA, BaFin, NFA
Trading Desk
MetaTrader 4 , MetaTrader 5
Crypto
Yes
Total Pairs
50 Forex Pairs and 20 Crypto Pairs
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 BDSwiss is a low-risk company, as evidenced by its overall Trust Score of 83 out of 100, and is properly authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC).
👉 There are four types of retail trading accounts offered by BDSwiss, including a Classic Account, Premium Account, VIP Account, and a RAW Trading Account.
👉 BDSwiss has a wide range of goods available for trading, including forex, commodities, stocks, indices, and many cryptocurrencies, which is far more than what is offered by most other brokers.
Unique Features
| Feature | Information |
| ⚖️ Regulation | CySEC, FSC, BaFIN, FSA |
| 📱 Social Media Platforms | • Facebook • YouTube • Blog • Telegram |
| 💻 Trading Accounts | • Classic Account • Premium Account • VIP Account • RAW Account |
| 📊 Trading Platform | • MetaTrader 4 • MetaTrader 5 • BDSwiss Mobile • BDSwiss Web • cTrader |
| 💰 Minimum Deposit | $100 |
| ✅ Trading Assets | • Forex • Commodities • Shares • Indices • Cryptocurrencies |
| ✔️ Kenyan Shilling-based Account? | No |
| 💰 KES Deposits Allowed? | No, only USD, GBP, EUR |
| 📉 Minimum spread | From 0.3 pips |
| ✔️ Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✔️ Pros | ❌ Cons |
| BDSwiss is well-regulated and offers services to countries worldwide | There are withdrawal fees charged |
| BDSwiss provides CTrader as multi-asset third-party trading platform for Forex and CFD trading. | The BDSwiss trading platform is not offered as a desktop application |
| Traders can choose from over 250 financial instruments that can be traded using powerful trading platforms | |
| BDSwiss offers MetaTrader and its own proprietary trading platforms on Web and Mobile devices | |
| BDSwiss has won several awards since its inception, proving that it is a reputable and reliable trading provider | |
| Demo accounts and Islamic accounts are offered | |
| BDSwiss caters for both beginner and professional traders |
Trust Score and Kenyan Market Share
🥇 The Trust Score of BDSwiss is 83 out of 100.
How to choose a CySEC regulated forex broker in Kenya
👉 Kenyan traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives and/or needs.
Regulations and Licenses
👉 This is the first important component that traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others. Kenyans must beware when dealing with brokers that only have offshore regulations such as FSA, SVG BVI, FSC, and others.
Account Features
👉 Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.
Deposits and Withdrawals
👉 Kenyans must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits among other trading and non-trading fees.
Range of Markets
👉 The range of markets offered refers to the number and range of tradable instruments that the broker offers. Kenyans must consider what they wish to trade and what is available.
Customer Support
👉 Customer Support is another crucial factor and Kenyans must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.
Trading Platform
👉 A trading platform is the Kenyan trader’s portal to the financial markets. Traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.
Education and Research
👉 Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:
➡️ eBooks
➡️ Trading guides
➡️ Trading knowledge on leveraged products
➡️ A risk warning on complex instruments
➡️ Educational videos
👉 Research can include some of the following:
➡️ Trading tools
➡️ Commentary
➡️ Status of International Markets
➡️ Price movements
➡️ Market sentiments
➡️ Whether there is a volatile market
➡️ Exchange Rates
➡️ Expert opinions and several other resources can help experienced traders make informed trading decisions.
The Best CySEC Regulated Forex Brokers in Kenya
👉 In this article we have listed the best Forex brokers which are CySEC regulated forex brokers for traders in Kenya. We have further identified the forex brokers that offer additional services and solutions to Kenyan traders.
Best CySEC regulated MetaTrader 4 / MT4 Forex Broker in Kenya
👉 Overall, Exness is the best CySEC-regulated MT4 forex broker in Kenya. Exness provides dynamic and adaptable account types and some of the most advantageous trading conditions in the industry. Exness gives access to over 200 financial products, a variety of retail account types, and a wealth of resources.
Best CySEC regulated MetaTrader 5 / MT5 Forex Broker in Kenya
👉 Overall, BD Swiss is the best CySEC regulated MT5 forex broker in Kenya. BDSwiss is also a well-regulated broker with a large international clientele. It has a wide range of instruments available for trading, including forex, commodities, stocks, indices, and many cryptocurrencies.
Best CySEC regulated Forex Broker for beginners in Kenya
👉 Overall, Tickmill is the best CySEC-regulated forex broker for beginners in Kenya. Tickmill’s VIP and Pro accounts also provide highly attractive commission-based pricing. In addition to low spreads, huge leverage, and fast execution speeds, Tickmill offers a wide range of CFD currency, stock, commodity, and index CFDs.
Best CySEC regulated Minimum Deposit Forex Broker in Kenya
👉 Overall, HF Markets is the best CySEC regulated minimum deposit forex broker in Kenya. HF Markets, formerly known as HotForex, also is a low-risk CFD and forex broker that offers fair trading conditions, retail investor accounts, client fund security, and customer support.
Best CySEC regulated ECN Forex Broker in Kenya
👉 Overall, Pepperstone is the best CySEC-regulated ECN forex broker in Kenya. Pepperstone is also known for exceptional client service, research offerings, and extensive selection of platforms.
Best CySEC regulated Islamic / Swap-Free Forex Broker in Kenya
👉 Overall, CM Trading is the best CySEC-regulated Islamic/swap-free forex broker in Kenya. CM Trading is also a trading services broker that accepts Kenyan traders even though the Capital Markets Authority (CMA) does not regulate the broker.
Best Forex Trading App in Kenya
👉 Overall, Trade Nation has the best forex trading app broker in Kenya. Trade Nation is also a platform with minimal risk and an effective trading app. Trade Nation further has competitive costs, a secure trading environment, and cutting-edge solutions.
Best CySEC regulated Lowest Spread Forex Broker in Kenya
👉 Overall, FBS is the best CySEC regulated lowest spread forex broker in Kenya. FBS is also a top forex and CFD broker for Kenyans that provides a wide range of trading accounts as well as an innovative and powerful proprietary trading app. FBS charges low, competitive fees, and traders can be confident that their clients’ funds are secure.
Best Nasdaq 100 Forex Broker in Kenya
👉 Overall, XM is the best Nasdaq 100 forex broker in Kenya. XM also offers tight security, excellent customer service, account financing, and low fees.
Best CySEC regulated Volatility 75 / VIX 75 Forex Broker in Kenya
👉 Overall, AvaTrade is the best CySEC regulated Volatility 75 / VIX 75 forex broker in Kenya. AvaTrade is worldwide regulated by financial watchdog authorities and is lauded as CFD and FX broker. AvaTrade’s broad capacity includes a full spectrum of trading instruments including Forex, stocks, commodities, and indices.
Best NDD Forex Broker in Kenya
👉 Overall, FP Markets is the best NDD forex broker in Kenya. FP Markets also offers over 10,000 products in stocks, indices, forex, commodities, and cryptocurrencies, as well as a user-friendly mobile app and several account types.
Best CySEC regulated STP Forex Broker in Kenya
👉 Overall, OctaFX is the best CySEC-regulated STP forex broker in Kenya. OctaFX is also a dependable broker because of its low required minimum deposit, commission-free trading, and the availability of an unlimited practice account.
Best sign up bonus Broker in Kenya
👉 Overall, Oanda is the best sign-up bonus broker in Kenya. Oanda also offers competitive trading conditions, an award-winning proprietary platform, and high-quality trading solutions. On OANDA’s platform, both professionals and novices can access a wide range of indicators and charting tools.
Understanding how CySEC regulated forex brokers work
👉 The Cyprus Securities Exchange Commission (CySEC) is the financial industry’s regulatory body. Its mission is to provide effective supervision to protect traders. It is an independent regulatory authority that oversees investment services and transferable securities transactions in Cyprus.
👉 CySEC was established in 2001 as a public legal entity, and Cyprus joined the European Union in 2004. Since then, CySEC regulations and operations have had to conform to the terms of the European financial regulatory framework.
👉 CySEC operates as a branch of European regulators advocating for secure trading and is thus linked to European regulations such as the Markets in Financial Instruments Directive (MiFID) and The Markets in Financial Instruments Regulation (MiFIR) (MiFIR).
👉 Firms operating in the European Union must comply with MiFID and MiFIR. These European regulations are in charge of ensuring financial market transparency throughout the European Union.
👉 One of the most important is the CySEC license. People can rely on CySEC-regulated companies because it ensures investor and trader protection and safety. The regulator monitors brokerage firms’ actions and transactions to ensure that they adhere to the legal and regulatory framework’s directives.
Advantages of CySEC regulated forex brokers
👉 CySEC regulated forex brokers have several advantages. These advantages include:
➡️ Client security – a proper verification process mitigates the risk of criminals using fake or stolen documents to open accounts and is crucial for brokerage companies in fulfilling their legal and regulatory obligations.
➡️ Transparency and fairness – transparency and fairness are of a high priority for a CySEC-regulated broker. The regulator controls the reception, transmission, and execution of orders.
➡️ CySEC has a list of brokers under its regulation. Just enter the name of a broker you are interested in and check whether it has a license.
➡️ Working with FBS prevents you from illegal practices such as tampering with the trading
➡️ Full client support – CySEC ensures that a broker is always ready to assist you in any situation, provide you with necessary instructions on trading, and a working support desk to resolve any problem you have.
Disadvantages of CySEC regulated forex brokers
👉 CySEC regulated forex brokers also have some drawbacks of traders in Kenya should take note of in order to mitigate their risk of losses:
➡️ Regulation is not as highly esteemed as that of the FCA.
Conclusion
👉 Overall, it is crucial to have a powerful regulatory agency like CySEC to keep market misconduct and money laundering to a minimum. Investors and traders can have complete trust in CySEC-regulated businesses since they offer protection and safety. A CySEC-regulated broker protects your interests on the highest level.
FAQ
What does CySEC stand for?
CySEC stands for The Cyprus Securities Exchange Commission.
Can any broker be regulated by CySEC?
No, brokerages must have a physical presence in Cyprus, with this office properly staffed with CySEC-certified personnel. The first CySEC license application must include a description of all services that the broker intends to provide. It must contribute to CySEC’s Investor Protection Fund and maintain at least €750,000 in operational capital.
Is it safe to choose a CySEC-regulated broker or not?
Yes, to prevent yourself from losing money, you should choose a CySEC-regulated brokerage. The CySEC license is one of the most significant. People can rely on the companies regulated by CySEC because it guarantees protection and safety for investors and traders.
Can a CySEC-regulated broker accept customers from Kenya?
Yes, CySEC permits its brokers to accept customers from countries outside of Europe.
Is CySEC regulation valid in other countries than Cyprus?
Yes, since Cyprus became a member of the European Union in 2004, CySEC rules and activities are aligned with the regulatory standards set by the European financial regulatory framework too.
Addendum/Disclosure:
👉 No matter how diligently we strive to maintain accuracy, all financial markets feature a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
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