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7 Best FSCA regulated Forex Brokers in Kenya

The 7 Best FSCA-Regulated Forex Brokers for Kenyans revealed. We tested the best FSCA-Regulated brokers for Kenyan Traders.

This is a complete guide to FSCA-Regulated brokers in Kenya.

In this in-depth guide you’ll learn:

  • What is a South African Financial Sector Regulation Act (FSCA)?
  • Which forex brokers offer the best trading platforms for Kenyan traders?
  • Which trading platforms accept M-PESA in Kenya?
  • How to compare the best forex brokers against each other. 
  • Which FSCA-Regulated forex brokers are best for beginner Kenayn Traders? 
  • Which brokers offer a sign-up bonus for first-time traders in Kenya? 
  • Which brokers offer a low minimum deposit of $5 (583 KES) to start trading? 
  • Which trading platforms offer a mobile app on IOS and Android for Kenyan Traders? 
  • Why is it important to trade with a licensed FSCA broker?


And lots more…

So if you’re ready to go “all in” with the best-tested SA FSCA-Regulated brokers…

Let’s dive right in…

Updated : August 31, 2022

Best FSCA regulated Forex Brokers in Kenya

🥇 Broker✔️ FSCA Broker?💰 Minimum Deposit?💸 Kenyan Shilling (KES) Deposits Allowed?👉 Open Account
1. ExnessYes$1 (116 KES)Yes👉 Open Account
2. AvaTradeYes$100 (11635,00 KES)Yes👉 Open Account
3. HF MarketsYes$5 USD (580 KES)No👉 Open Account
4. TickmillYes$100 (11635 KES)Yes👉 Open Account
5. CM TradingYes$100 (11635 KES)Yes👉 Open Account
6. Trade NationYes10 USD (1 167 KES)No👉 Open Account
7. XMYes$100 (11635 KES)No👉 Open Account

7 Best FSCA regulated Forex Brokers in Kenya (Updated 2022)

  1. Exness – Overall, Best FSCA-Regulated Broker in Kenya
  2. AvaTrade – Top Volatility 75 / VIX 75 Broker
  3. HF Markets – Verified FSCA-Regulated Minimum Deposit Broker
  4. Tickmill – User-Friendly Forex Broker for Beginner Traders
  5. CM Trading – Top FSCA-Regulated Islamic/Swap-Free Broker
  6. Trade Nation – Best MetaTrader 5 / MT5 Broker in Kenya
  7. XM – Top Nasdaq100/NAS100 Broker

What are FSCA-regulated forex brokers?

👉 FSCA regulated forex brokers are regulated by the Financial Sector Conduct Authority (FSCA). The FSCA is South Africa’s market conduct regulator of financial institutions and is responsible to ensure that all forex and CFD brokers are compliant with market conduct regulations.

1. Exness

Overall Rating

Min Deposit

USD 10 / 1156 KES

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

on Exness’s website

 

Overview

👉 Exness is a low-risk CFD and Forex broker licensed and regulated by a number of authorities. Exness offers a variety of account types that are flexible and adaptable, and also some of the best trading conditions in the market.

 

👉 Exness is one of Kenya’s most popular brokers, despite the fact that it is not yet regulated by the Capital Markets Authority (CMA). It is regulated by the FSCA though. Exness was founded in 2008 and now offers over 200 financial products, a variety of retail account types, and a plethora of information to traders.

 

👉 The website of the Exness Group is available in 18 languages, and customer service is offered in 13 languages 24 hours a day, seven days a week.

 

👉 Exness also offers traders the ability to withdraw cash instantly through a variety of electronic payment channels, giving them complete control over their funds. Furthermore, customers have access to leverage, which can significantly reduce margin requirements and allow for more flexible trading strategy management.

 

Unique Features

FeatureInformation
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
📱 Social Media Platforms• Facebook
• Twitter
• Instagram
• LinkedIn
• YouTube
💻 Trading AccountsStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app
💰 Minimum Deposit1 USD (116 KES)
✅ Tradable AssetsForex, Metals, Crypto, Energies, Indices, Stocks
📉 Minimum spreadFrom 0.0 pips EUR/USD
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
Exness is well-regulated and keeps all client funds in segregated accounts with top-tier institutionsExness offers a limited number of payment methods for deposits and withdrawals
Traders can choose between several retail investor accountsExness 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

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 launched in 2006. As a worldwide CFD and FX broker, it is overseen by several reputable financial authorities. AvaTrade is a member of the AVA Group of enterprises, a renowned worldwide company.

 

👉 AvaTrade is not regulated or authorized by the Capital Markets Authority (CMA) in Kenya but is regulated by the FSCA. The broker does not have local offices in Nairobi, but AvaTrade is a trusted and highly recommended broker for Kenyan traders who want to participate in global financial markets.

 

Unique features

FeatureInformation
⚖️ RegulationCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC
📱 Social Media Platforms• Twitter
• Instagram
• Facebook
• YouTube
💻 Trading AccountsStandard and Options accounts
📊 Trading Platform• AvaTradeGO
• AvaOptions
• AvaSocial
• MetaTrader 4
• MetaTrader 5
• DupliTrade
• ZuluTrade
💰 Minimum DepositEquivalent to $100 – 11635,00 KES
✅ Tradable Assets• Forex
• Metals
• Crypto
• Energies
• Indices
• Stocks
💵 Trading AssetsEquivalent to $100 – 11635,00 KES
📉 Minimum spreadFrom 0.9 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ 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

Min Deposit

USD 5 / 578 KES

Regulators

CySEC, FSC, FSCA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 HF Markets, formerly HotForex, is a low-risk CFD and forex broker for Kenyan traders, receiving a 9/10 rating for trading conditions, retail investor accounts, client fund security, and customer service.

 

👉 HF Markets is regulated by a number of respected organizations, including the Financial Sector Conduct Authority (FSCA) and Kenyan Capital Markets Authority (CMA).

 

👉 HF Markets is a proud MetaTrader broker, offering MetaTrader 4 and MetaTrader 5 trading platforms. Retail investor accounts at HF Markets are suitable for both rookie and experienced traders, as well as professional traders looking for a competitive edge.

 

👉 To accommodate traders with varied trading styles, trading talents, and investment objectives, each retail trading account has its own set of features and trading conditions. HF Markets has over 2.5 million active accounts and has earned over 55 forex industry awards in the last decade.

 

Unique Features

FeatureInformation
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
📱 Social Media Platforms• Facebook
• Twitter
• Telegram
• Instagram
• YouTube
• LinkedIn
💻 Trading AccountsMicro Account, Premium Account, HF copy Account, Zero Spread Account, Auto Account
📊 Trading PlatformMetaTrader 4 and MetaTrader 5
💰 Minimum Deposit5 USD or 580 KES
💵 Trading AssetsForex, 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 spreadFrom 0.0 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
Tight, competitive spreads from 0.0 pips on EUR/USD are offeredHF 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

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. Tickmill is well-regulated by reputable entities such as Seychelles FSA, FCA, CySEC, Labuan FSA, and Financial Sector Conduct Authority (FSCA).

 

👉 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. In addition to FSCA-regulated forex brokers, huge leverage, and fast execution speeds, Tickmill offers a wide range of CFD currency, stock, commodity, and index CFDs.

 

Unique Features

FeatureInformation
⚖️ RegulationSeychelles FSA, FCA, CySEC, Labuan FSA, FSCA
📱 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
• Instagram
• Telegram
💻 Trading AccountsPro Account, Classic Account, VIP Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5
💰 Minimum Deposit100 USD or 11635 KES
✅ Trading AssetsForex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies
✔️ Deposits AllowedUSD, GBP, EUR, IDR, CNY, VND, or RUB
📉 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
Tickmill offers robust trading platforms and innovative mobile tradingTickmill spreads are not the tightest
Tickmill has a very high trust score and is known for its competitive trading conditionsCurrency conversion fees will apply for foreign deposits
Advanced traders can use a range of tools including FIX API, AutoChartist, VPS, and othersNo 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. CM Trading

Overall Rating

Min Deposit

USD100

Regulators

FSA

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

154

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

👉 CM Trading is a South African-based broker regulated by the Financial Sector Conduct Authority (FSCA) that offers some of the best retail trading accounts to Kenyan traders. In addition to its comprehensive trading solutions, CM Trading has a large market share in Kenya.

 

👉 In addition to being one of the most creative Forex brokers in the world, CM Trading is also the biggest Forex broker in South Africa.

 

👉 International and worldwide customers can benefit from a broad range of modern trading solutions in addition to the company’s primary focus on Africa. CMTrading’s innovative trading platforms and unmatched liquidity are available to all levels of traders.

 

👉 Markets such as currencies, stock indexes, and commodities can be traded across powerful trading platforms offered by CM Trading. Energies, metals, and agricultural commodities are all available for commodity traders along with several other instruments for crypto and forex traders.

 

Unique Features

FeatureInformation
⚖️ RegulationFSA, FSCA
📱 Social Media Platforms•  Facebook
• Twitter
• WhatsApp
• Instagram
• YouTube
• LinkedIn
💻 Trading Accounts• Bronze Account
• Silver Account
• Gold Account
• Premium Account
📊 Trading Platform• MetaTrader 4
• CM Trading Web
• CopyKat
• Expert Advisors
• Trading apps
💰 Minimum Deposit$100 (11 668 KES)
✅ Tradable Assets• Currency trading
• Stocks
• Indices
• Cryptocurrencies
• Commodities
• CFDs
📉 Minimum spreadFrom 0.9 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
CM Trading has a high trust scoreThe spreads are competitive, but they are not the lowest
CM Trading is a well-regulated brokerThere are deposit and withdrawal fees charged on crypto funding
Clients’ funds are stored in segregated accounts separate from CM Trading’s operational accounts and fundsThere is an inactivity fee that may apply if the account becomes inactive
There are several advanced trading tools offered to experienced traders
There are no restrictions on the trading strategies that traders can use
CM Trading welcomes Kenyan traders
CM Trading offers local deposit and withdrawal methods
There is a competitive minimum deposit requirement for the account tiers
CM Trading has a long-standing reputation as one of the best forex and CFD brokers for Kenya

 

Trust Score and Kenyan Market Share

🥇 The trust score for CM Trading is 91%.

6. Trade Nation

Overall Rating

Min Deposit

USD 0 / 0 KES

Regulators

FSCA

Trading Desk

Crypto

Yes

Total Pairs

33

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

on Tradenation’s website

 

Overview

👉 XM was founded in 2009 and has been in operation for more than 12 years. It operates in over 196 countries, has a service team that speaks 30 languages, and is one of the most trusted and well-regulated brokers.

 

👉 XM is a medium-risk broker with an 84 percent trust score and an overall rating of 9/10 as a CFD and Forex broker for Kenyan traders. Despite the fact that the broker’s main branch is based in Belize and is licensed by the IFSC, the broker has offices around the world that can service clients’ needs, with relevant regulation and authority in these regions. It is also regulated by the Financial Sector Conduct Authority (FSCA).

 

👉 Some of the most important features that consumers look for in an online trading platform are security, customer service, account financing, and low fees, which XM provides in spades.

 

👉 This beneficial mix makes XM an excellent venue to begin a trading profession or to advance one’s existing trading career.

 

👉 A high level of reliability is provided by XM, a trading platform that eliminates the uncertainty associated with order execution while maintaining a high level of compatibility with MetaTrader 4 and 5.

 

Unique Features

FeatureInformation
⚖️ RegulationFCA, ASIC, FSCA, SCB
📱 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
• Instagram
💻 Trading Accounts• Low Leverage Account (1:30)
High Leverage Account (1:200)
📊 Trading Platform• MetaTrader 4
• Trade Nation app
💰 Minimum Deposit10 USD (1 167 KES)
✅ Trading Assets• Indices
• Stocks
• Precious Metals
• Forex
• Commodities
• Energies
• CFDs
💵 Kenyan Shilling-based Account?No
✔️ KES Deposits Allowed?No
📉 Minimum spreadFrom 0.4 pips
✔️ Demo AccountYes
☪️ Islamic AccountNo

 

✔️ Pros❌ Cons
Trade Nation offers MetaTrader 4 alongside its innovative proprietary trading platformThere is a limited selection of funding options
Trade Nation is a reputable and well-regulated broker that is well-trusted in the forex industryThere is no KES-denominated account and Kenyans cannot deposit funds in Kenyan shilling
There are no fees charged on deposits or withdrawalsCurrency conversion fees may apply to deposits made in KES
There is a range of markets available to Kenyan tradersThe spreads are not the lowest
There are tight, fixed spreads and no hidden fees
There is a selection of educational materials that are offered
Trade Nation provides sophisticated trading tools to advanced traders

 

Trust Score and Kenyan Market Share

🥇 XM has a trust score of 84%.

7. XM

Overall Rating

Min Deposit

USD 5 / 584 KES

Regulators

IFSC, CySec, ASIC

Trading Desk

Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform

Crypto

No

Total Pairs

57

Islamic Account

Yes

Trading Fees

No (Just spread) 

Account Activation Time

24 Hours

 

Overview

👉 XM builds on its reputation by providing a balanced mix of the features that users value the most: security, support, ease of account funding and withdrawal, and low fees.

 

👉 XM offers a high level of dependability while remaining highly compatible with MetaTrader 4 and 5. This advantageous combination makes XM an excellent place to start a trading career or advance one’s existing trading career.

 

Unique Features

FeatureInformation
⚖️ RegulationFSCA, IFSC, ASIC, CySEC, DFSA
📱 Social Media Platforms• Facebook
• Twitter
• YouTube
• Instagram
• LinkedIn
💻 Trading AccountsMicro Account, Standard Account, XM Ultra-Low Account, Shares Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5, XM Mobile App
💰 Minimum Deposit5 USD
✅ Trading AssetsForex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares
✔️ Kenyan Naira-Based AccountNo
💳 Bonuses for Kenyan traders?Yes
📉 Minimum spreadfrom 0.0 pips
✔️ Demo AccountYes
☪️ Islamic AccountYes

 

✔️ Pros❌ Cons
XM is a low-cost forex broker with a high trust scoreNo fixed spreads offered on accounts
XM has more than 5 million active clients from around the worldInactivity fees apply for dormant accounts
Client fund safety is guaranteed
XM offers investor protection to Kenyan traders
There are no commissions charged on deposits or withdrawals
XM has won several industry awards since its establishment in 2009

 

Trust Score and Kenyan Market Share

🥇 XM has a trust score of 84% and a market share of <5% in Kenya.

How to choose an FSCA regulated forex broker

👉 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 Forex Brokers in Kenya

👉 In this article, we have listed the best Forex brokers which offer FSCA-regulated forex brokers to traders in Kenya. We have further identified the forex brokers that offer additional services and solutions to Kenyan traders.

 

Best FSCA regulated MetaTrader 4 / MT4 Forex Broker in Kenya

Best FSCA regulated MetaTrader 4 / MT4 Forex Broker in Kenya

👉 Overall, Exness is the best FSCA 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 MetaTrader 5 / MT5 Forex Broker in Kenya

Best MetaTrader 5 / MT5 Forex Broker in Kenya

👉 Overall, Axiory is the best MT5 forex broker in Kenya. Trades with Axiory are executed in less than 200 milliseconds, and Kenyan traders are provided with the best trading software that is linked to Equinix data centers. Forex and CFD trading can be done with Axiory’s cTrader, MetaTrader, and the FIX API.

 

Best FSCA regulated Forex Broker for beginners in Kenya

Best FSCA regulated Forex Broker for beginners in Kenya

👉 Overall, Tickmill is the best FSCA-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 FSCA regulated Minimum Deposit Forex Broker in Kenya

Best FSCA regulated Minimum Deposit Forex Broker in Kenya

👉 Overall, HF Markets is the best FSCA-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 ECN Forex Broker in Kenya

Best ECN Forex Broker in Kenya

👉 Overall, Pepperstone is the best ECN forex broker in Kenya. Pepperstone is also known for exceptional client service, research offerings, and an extensive selection of platforms.

 

Best FSCA regulated Islamic / Swap-Free Forex Broker in Kenya

Best FSCA regulated Islamic / Swap-Free Forex Broker in Kenya

👉 Overall, CM Trading is the best FSCA-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 FSCA regulated Forex Trading App in Kenya

Best FSCA regulated Forex Trading App in Kenya

👉 Overall, Trade Nation is 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 Lowest Spread Forex Broker in Kenya

Best Lowest Spread Forex Broker in Kenya

👉 Overall, FBS is the best 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 FSCA regulated Nasdaq 100 Forex Broker in Kenya

Best FSCA regulated Nasdaq 100 Forex Broker in Kenya

👉 Overall, XM is the best FSCA regulated Nasdaq 100 forex broker in Kenya. XM also offers tight security, excellent customer service, account financing, and low fees.

 

Best FSCA regulated Volatility 75 / VIX 75 Forex Broker in Kenya

Best FSCA regulated Volatility 75 / VIX 75 Forex Broker in Kenya

👉 Overall, AvaTrade is the best FSCA 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 offers an optimal trading environment for every level of a trader with 24-hour multilingual support desks.

 

Best FSCA regulated NDD Forex Broker in Kenya

Best FSCA regulated NDD Forex Broker in Kenya

👉 Overall, FP Markets is the best FSCA-regulated 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 STP Forex Broker in Kenya

Best STP Forex Broker in Kenya

👉 Overall, OctaFX is the best 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

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 FSCA regulated forex brokers work

👉 The Financial Sector Conduct Authority (FSCA) is in charge of regulating forex trading and currency CFDs in South Africa and elsewhere. The FSCA’s responsibilities include protecting traders from financial fraud and promoting a healthy and competitive financial marketplace.

 

👉 It also keeps a close eye on the Johannesburg Stock Exchange, banks, hedge funds, and other financial service providers.

 

👉 Customers’ funds must be kept separate from the company’s operating finances and must be audited on a regular basis by FSCA-regulated Forex brokers to ensure that they are not misappropriated.

 

👉 For the benefit of Forex traders, all FSCA-regulated brokers must apply for an Over-the-Counter Derivative Provider (ODP) license, which ensures that Forex brokers are overseen by trained non-executive directors who sit on the board and have a sufficient cash reserve to avoid insolvency.

 

👉 Having their trading cash held in a local bank adds an extra layer of security for traders. In the event of a broker’s insolvency or closure, your funds may be reclaimed by the Financial Sector Conduct Authority (FSCA).

 

👉 Forex traders can also open Rand (ZAR) trading accounts with local brokers. The vast majority of offshore Forex firms offer only USD or EUR trading accounts.

Advantages of FSCA regulated forex brokers

👉 FSCA regulated forex brokers have several advantages. These advantages include:

➡️ The FSCA ensures that all forex and CFD brokers follow market conduct regulations.

➡️ The FSCA ensures the efficiency and integrity of all financial markets.

➡️ The FSCA protects consumers while also encouraging fair treatment.

➡️ The FSCA ensures that, when dealing with financial institutions, consumers receive the necessary education.

➡️ Brokers who are FSCA-regulated can continue to provide financial products and services to traders while maintaining their licensing and authorization.

➡️ If a broker declares bankruptcy, traders’ investments are safe if the broker is unable to meet its financial obligations.

➡️ Client funds are not used for operational purposes by the broker, but instead are used only for client-approved trading activities.

➡️ Traders are safeguarded against fraudulent or scam brokers if they use FSCA-regulated brokers and heed the market regulator’s warnings.

➡️ Brokers who have valid FSCA regulations and authorization do not engage in illegal activities.

➡️ FSCA-regulated brokers are required by law to ensure that all trading activities are fair, secure, and transparent.

➡️ FSCA-regulated forex brokers offer traders the necessary warnings, education, information, and other materials and tools to assist them in a wide range of competitive financial markets.

Disadvantages of FSCA regulated forex brokers

👉 FSCA regulated forex brokers also have some drawbacks of traders in Kenya should take note of in order to mitigate their risk of losses:

➡️ Not all brokers are FSCA regulated.

Conclusion

👉 Overall, The Financial Sector Conduct Authority (FSCA) is responsible for ensuring that those forex and CFD brokers follow market conduct regulations. Traders can be assured that such brokers are not scam brokers and that their investments are kept safe.

FAQ

What is an FSCA regulated forex broker?

FSCA-regulated forex brokers are regulated by the Financial Sector Conduct Authority (FSCA).

 

What is the FSCA?

The FSCA is South Africa’s market conduct regulator of financial institutions and is responsible to ensure that all forex and CFD brokers are compliant with market conduct regulations.

 

Are all brokers regulated?

No, some offshore brokers are not properly regulated and must be avoided by traders in any country.

 

What advantages are there for traders to use FSCA-regulated brokers?

  • The FSCA ensures that all forex and CFD brokers follow market conduct regulations.
  • Traders are safeguarded against fraudulent or scam brokers if they use FSCA-regulated brokers and heed the market regulator’s warnings.
  • FSCA-regulated forex brokers offer traders the necessary warnings, education, information, and other materials and tools to assist them in a wide range of competitive financial markets.

 

Can traders from Kenya make use of FSCA-regulated brokers?

Yes, although the FSCA is South African based, it can give Kenyan traders also peace of mind.

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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