The best stock broker in Kenya depends on how you intend to invest. Faida Investment Bank is our overall choice for everyday retail investors because it combines online CDS account opening, the Faida M-Trader app, M-Pesa funding and direct access to NSE-listed shares. AIB-AXYS may suit investors wanting a stronger digital platform and access to both Kenyan and international investments, while Standard Investment Bank stands out for its research.
This ranking only includes Kenyan stockbrokers and investment banks that appear in the current Capital Markets Authority register. Forex and CFD brokers have not been treated as NSE stockbrokers. They operate under different licences and, in most cases, offer derivatives rather than direct ownership of Kenyan-listed shares.
- Maryke Myburgh
Which stockbroker is best for beginners in Kenya?
Beginners should look for a CMA-licensed broker with a simple trading platform, clear fees and helpful customer support. Educational resources and easy CDS account opening are also useful. The cheapest broker is not always the best choice, especially when reliable order execution and access to research are important.
How can I confirm that a stockbroker is legitimate in Kenya?
Check whether the broker appears on the Capital Markets Authority’s current list of licensed stockbrokers or investment banks. You can also confirm that it is an approved Nairobi Securities Exchange trading participant. Avoid sending money to firms that cannot provide a valid licence number or clear company details.
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10 Best Stock Brokers in Kenya at a Glance
| Stock broker | Best for | Main trading channel | M-Pesa funding |
| Faida Investment Bank | Best overall for retail investors | Faida M-Trader | Yes |
| AIB-AXYS Africa | Digital trading and broader market access | DigiTrader web and mobile | Available; confirm current instructions |
| Standard Investment Bank | Research and market insight | Equities desk and research portal | Confirm with broker |
| Kingdom Securities | Co-operative Bank customers | OST and KSL Trader | Yes |
| Dyer & Blair Investment Bank | Established brokerage with a | Dyer & Blair Edge | Available through |
| SBG Securities | Detailed online account reporting | iTrader | Confirm with broker |
| ABC Capital | Straightforward M-Pesa-funded trading | Online Share Trading platform | Yes |
| Suntra Investments | Investor education and advisory support | Online trading platform | Yes |
| NCBA Investment Bank | Existing NCBA banking customer | NCBA digital and brokerage channels | Available; confirm current instructions |
The rankings are editorial, not a promise that one broker will be right for every investor. Licence status, available platforms, research, funding options, account access and customer suitability were considered. We did not place live trades or complete withdrawals through each broker.
What Counts as a Stock Broker in Kenya?
A Kenyan stockbroker is a firm authorised to buy and sell securities for investors. For NSE-listed shares, the intermediary should appear in the CMA register as a stockbroker, broker-dealer or investment bank authorised to conduct stockbroking activities.
That definition matters. Many websites place forex brokers, international investing apps and local NSE brokers in the same table, but the services are not the same.
| Provider type | What you normally receive | Direct NSE access? | Do you own the underlying shares? |
| CMA-licensed NSE stockbroker | Access to locally listed shares through a CDS accoun | Yes | Normally yes |
| Kenyan investment bank | Brokerage plus services such as research, advisory and corporate finance | Usually | Normally yes when buying shares |
| International share-dealing broker | Foreign shares and ETFs held directly or through a custodian | No local NSE access unless specifically supported | Often, but custody terms must be checke |
| Forex or CFD broker | A contract tracking a share, index, currency or commodity price | Usually no | Normally no |
A share CFD can follow the price of a company, but it does not normally make the customer a shareholder. It may also involve leverage, overnight financing and a much higher risk of rapid losses. That is not the same as buying an NSE-listed share and holding it in a CDS account.
How We Selected the Brokers
We considered seven practical areas:
- Current CMA licence status.
- Access to NSE-listed securities.
- Availability of a web or mobile trading channel.
- CDS account services.
- Funding convenience, including M-Pesa where verified.
- Research and investor information.
- A clear limitation that investors should understand.
The licence checks were completed against the CMA registers available on 29 July 2026. Broker features were checked against official broker, CDSC and platform pages. Platform quality was not scored through hands-on account testing.
1 Faida Investment Bank – Best Overall Stock Broker in Kenya
Faida Investment Bank is our overall choice for Kenyan retail investors who want a relatively straightforward route into NSE-listed shares.
Investors can apply for a CDS account online, deposit through M-Pesa and place orders using the Faida M-Trader app. Faida says CDS account opening is free, although trading commissions and statutory charges still apply whenever an order is executed.
Faida has operated in Kenya’s securities market since 1995 and became a full investment bank in 2007. It appears in the CMA register as a licensed investment bank.
Why we selected it
- Online CDS account application.
- Faida M-Trader mobile access.
- M-Pesa Paybill funding.
- Market research and brokerage services.
- A practical setup for first-time retail investors.
Main limitation
Some figures on Faida’s public FAQ still reflect an older levy breakdown. Investors should rely on their current account terms, contract notes and the latest regulatory schedule rather than copying the older component table.
Best suited to: Kenyan residents wanting a local, mobile-friendly introduction to NSE share investing.
AIB-AXYS Africa – Best for Digital Trading and Broader Market Access
AIB-AXYS Africa, which also markets its services as AXYS Investment Bank, offers one of the broader digital propositions in this comparison.
Its DigiTrader and online trading platform provide real-time market information, order placement, portfolio valuations, transaction statements and funding access through mobile and web channels. The firm also advertises access to local stocks and bonds, international equities, ETFs and offshore funds.
AIB-AXYS appears in the CMA investment-bank register and is also listed in the stockbroker category. Investors should use the current legal entity and licence information displayed in the CMA portal when opening an account.
Why we selected it
- Web and mobile trading access.
- Real-time pricing and order placement.
- Local and international investment range.
- Portfolio and transaction reporting.
- Digital funding and payment functionality.
Main limitation
International products may use different custody, fee and regulatory arrangements from ordinary NSE shares. Investors should check which legal entity holds each product and whether they will own the underlying security.
Best suited to: Investors looking for NSE access alongside a broader selection of international securities.
Standard Investment Bank – Best for Research and Market Insight
Standard Investment Bank is a strong option for investors who place more value on professional research and market interpretation than on a simple app-only experience.
Its research service covers daily trading briefs, weekly equity reports, fixed-income commentary, sector analysis, company valuations and topical economic research. Its equities division also provides execution services and local market information.
Standard Investment Bank is a member of the NSE and an authorised CDSC Central Depository Agent. It is listed in the CMA investment-bank register.
Why we selected it
- Extensive local equity research.
- Regular market and economic reports.
- Equities and fixed-income services.
- Experience with retail and institutional investors.
- Access to advisory and global-market solutions.
Main limitation
The public website places more emphasis on research, specialist services and adviser contact than on a clearly presented retail self-service trading app. New investors should confirm the current order-placement process before opening an account.
Best suited to: Investors who want research and professional market commentary to support their decisions.
Kingdom Securities – Best for Co-operative Bank Customers
Kingdom Securities provides online access through its web-based Online Share Trading platform and the KSL Trader app.
The platform gives customers access to their CDS accounts, real-time NSE information, order placement, transaction history, portfolio valuations and stockholding reports. Orders can also be submitted outside market hours and held for processing when the market is open.
Kingdom Securities is shown in the CMA register as a licensed stockbroker. It is closely connected to the Co-operative Bank ecosystem, which may make funding and support more familiar to existing customers.
Why we selected it
- KSL Trader mobile application.
- Web-based share trading.
- Direct CDS account visibility.
- Real-time order and portfolio information.
- Access through Kingdom Securities and supported Co-operative Bank channels.
Main limitation
Customers should confirm the current funding instructions and any differences between orders submitted through the app, website, email or a bank branch.
Best suited to: Co-operative Bank customers and investors who want both mobile and assisted order channels.
Dyer & Blair Investment Bank – Best Established Broker with a Modern App
Dyer & Blair combines a long-standing Kenyan investment-banking operation with a current digital trading platform.
Its online platform and Dyer & Blair Edge app provide real-time NSE quotes, order placement, watchlists, research, account statements, portfolio valuations and order-status tracking. The firm also offers brokerage, corporate finance, research, advisory and private-wealth services.
Dyer & Blair is listed as an investment bank in the CMA register.
Why we selected it
- Mobile and online order placement.
- Live NSE pricing.
- Research and stock information.
- Portfolio and statement access.
- Established local market presence.
Main limitation
The range of services can be broader than a beginner needs. Customers should establish which account, service level and charges apply to ordinary self-directed NSE trading.
Best suited to: Investors looking for an established investment bank with a practical digital platform.
SBG Securities – Best for Detailed Online Account Reporting
SBG Securities offers its iTrader platform for direct online management of NSE share-trading accounts.
The platform provides real-time prices, market information, order-status updates, statements, contract notes and portfolio valuations. Customers also receive 24-hour access to their trading accounts, although actual NSE order execution remains subject to market availability and trading hours.
SBG Securities appears in the CMA investment-bank register.
Why we selected it
- Direct NSE order access.
- Detailed statements and contract notes.
- Real-time portfolio valuations.
- Market and order-status information.
- Connection to the broader Stanbic banking group.
Main limitation
The iTrader platform has been available for many years, and investors should review the current interface, application process and mobile experience rather than assuming it works like a newly launched investing app.
Best suited to: Investors who want detailed account documentation and online portfolio reporting.
Genghis Capital – Best for Flexible Online and Assisted Trading
Genghis Capital gives investors more than one way to place an order.
Customers can use the Active Trader online platform to buy and sell shares, view market information and monitor their portfolios. They can also send properly completed trading instructions to the brokerage team by email.
Genghis Capital appears in the CMA register as an investment bank.
Why we selected it
- Active Trader online platform.
- Online portfolio monitoring.
- Email-based trading instructions.
- Research and market information.
- Broker-assisted support when required.
Main limitation
Email instructions are useful, but they may not suit investors who expect every part of the order process to happen instantly inside a mobile app.
Best suited to: Investors who want a mixture of self-directed and broker-assisted trading.
ABC Capital – Best for Straightforward M-Pesa Funding
ABC Capital offers online share trading, market research and M-Pesa funding for NSE investors.
Its official website directs customers to an Online Share Trading platform and provides a Lipa na M-Pesa Paybill number, with the investor’s CDS number used as the account reference. ABC Capital also publishes market and research material.
ABC Capital is listed in the current CMA stockbroker register.
Why we selected it
- Online share-trading access.
- Direct M-Pesa funding instructions.
- CDS-number-based payment reference.
- Research reports and market information.
- Long-standing NSE membership.
Main limitation
Parts of the public website have an older design and limited detail about the current platform experience. Investors should review the live platform and account agreement before depositing money.
Best suited to: Investors prioritising simple local funding and traditional NSE brokerage.
Suntra Investments – Best for Education and Advisory Support
Suntra Investments offers stockbroking, online trading, research, training and investment-advisory services.
Its online platform supports order placement, live market information and portfolio monitoring. Suntra also publishes research and offers training intended to help investors understand equities, fixed income and the wider Kenyan capital market.
Suntra Investments appears in the CMA register as a licensed stockbroker.
Why we selected it
- Online NSE share trading.
- Research reports.
- Investor education and training.
- CDSC account support.
- Advisory services for investors needing guidance.
Main limitation
Investment advice and self-directed brokerage are different services. Customers should establish whether advice is included, separately charged or provided under another agreement.
Best suited to: Beginners who value education and access to human guidance.
NCBA Investment Bank – Best for Existing NCBA Customers
NCBA Investment Bank may be convenient for investors who already use NCBA banking services and prefer keeping their financial relationships within one group.
Its investment-bank operation provides securities brokerage and research, with online share-trading access available through supported NCBA digital channels. NCBA Investment Bank is listed in the CMA investment-bank register.
Why we selected it
- Connection to NCBA’s banking ecosystem.
- NSE brokerage services.
- Research and investment support.
- Familiar funding channels for existing customers.
- Current CMA investment-bank listing.
Main limitation
Customers should not assume that an ordinary NCBA banking account automatically includes a CDS or share-trading account. Separate onboarding and securities documentation may be required.
Best suited to: Existing NCBA customers who want local banking and brokerage within the same financial group.
How Stockbrokers Are Regulated in Kenya
The Capital Markets Authority regulates Kenya’s securities intermediaries. The Nairobi Securities Exchange operates the market on which listed securities trade, while the Central Depository and Settlement Corporation maintains the central system used to hold, clear and settle securities electronically.
These organisations perform different roles:
Organisation | Main role |
Capital Markets Authority | Licences and supervises capital-market intermediaries |
Nairobi Securities Exchange | Operates the securities market |
CDSC | Holds securities electronically and supports clearing and settlement |
Stockbroker or investment bank | Receives and executes the investor’s order |
Investor Compensation Fund | Provides a statutory compensation mechanism subject to its rules and limits |
A CMA licence is an important first check, but it does not remove market risk. The price of a properly regulated investment can still fall.
Before opening an account, search for the firm’s exact legal name in the CMA register. Do not rely only on a logo, social-media profile, mobile-app name or salesperson’s claim.
Stockbroker Fees in Kenya
The Capital Markets Regulations published on 11 December 2025 contain the current statutory schedule for secondary equity trading.
Transaction value | Brokerage treatment | Maximum total cost stated in the schedule |
Up to KSh100,000 | Net brokerage commission shown as 1.76% | 2.10% |
Above KSh100,000 | Brokerage is negotiable, subject to a maximum of 1.50% | 1.70% |
The total includes applicable brokerage and market-related charges described in the regulatory schedule. Investors should ask the broker for a current fee quotation and check the contract note issued after every trade.
The online legal schedule’s component columns do not reconcile neatly with its stated maximum totals. For that reason, investors should not attempt to reconstruct the amount from an old broker FAQ. Use the stated maximum, the gazetted document and the actual contract note.
Other possible costs can include:
- Bank or mobile-money transfer charges.
- Custody or account-service charges where applicable.
- Adviser or portfolio-management fees.
- Foreign-exchange conversion for overseas investments.
- Taxes applicable to the investor’s circumstances.
- International custody or market-data charges.
Frequently Asked Questions
Which is the best stock broker in Kenya?
Faida Investment Bank is our overall choice for many retail investors because it supports online CDS account opening, the Faida M-Trader app and M-Pesa funding. It will not suit everyone, though. Investors who prioritise research may prefer Standard Investment Bank, while AIB-AXYS may be more attractive for digital and international-market access.
Which stock brokers in Kenya accept M-Pesa?
Faida, AIB-AXYS, ABC Capital, Kingdom Securities, Suntra and several other approved agents have supported M-Pesa funding. Each firm uses its own Paybill and account-reference format. Verify the current number on the official broker or CDSC website before paying. Never transfer investment funds to an employee’s private phone number.
How much money do I need to start buying shares in Kenya?
There is no single amount that applies to every broker or share. CDSC advertises access through Dosikaa from as little as KSh500, but the actual amount depends on the security’s price, the quantity permitted by the platform and transaction costs. Some traditional broker channels still refer to standard quantities such as 100 shares.
Do I need a CDS account to buy NSE shares?
A CDS account is the conventional electronic account used to hold NSE securities. It can be opened through an approved stockbroker, investment bank or other Central Depository Agent. Some digital investment platforms use pooled structures instead, so investors should establish whether they receive a direct CDS account or only a beneficial interest in a pooled holding.
How long does an NSE share trade take to settle?
Normal settlement is generally completed on a rolling T+3 basis, meaning three business days after the trade date. That does not always mean money will arrive in a personal bank account at exactly the same time. The broker may have additional withdrawal processing steps, cut-off times or identity checks.
What is the cheapest stock broker in Kenya?
There is no reliable single cheapest broker for every transaction. For trades above KSh100,000, the brokerage portion may be negotiated within the regulatory maximum. Investors should request a current quotation and compare the complete cost, including market charges, custody, advisory services, transfers and any foreign-exchange conversion.
Can I buy one share on the NSE?
It depends on the security and trading channel. Some traditional broker guidance refers to standard quantities of 100 shares, while newer digital or odd-lot channels may allow smaller investments. Check the chosen platform’s current order rules rather than assuming one universal minimum applies to every listed company.
Is Robinhood available in Kenya?
Robinhood should not be listed as a Kenyan NSE stockbroker. It does not appear in the CMA stockbroker or investment-bank register and does not provide direct access to NSE-listed shares. Eligibility for any overseas Robinhood service is a separate matter and should be confirmed directly with Robinhood during its account-opening process.
Can Kenyans buy US stocks?
Yes, but investors need an international share-dealing broker or investment service that currently accepts Kenyan residents. Confirm whether it provides real shares or CFDs, which legal entity holds the account, the custody arrangement, the regulator, foreign-exchange costs and withdrawal rules. A platform displaying US share prices does not automatically provide share ownership.
What is the difference between the CMA, NSE and CDSC?
The CMA regulates Kenya’s capital market and its licensed intermediaries. The NSE operates the market where listed securities are traded. CDSC maintains the electronic depository and supports clearing and settlement. The stockbroker or investment bank acts as the investor’s intermediary by receiving and executing the order.
Final Verdict
Faida Investment Bank offers the strongest all-round combination for many Kenyan retail investors, particularly those looking for online account opening, app access and M-Pesa funding.
AIB-AXYS is a strong alternative for broader digital and international-market access. Standard Investment Bank is better suited to investors who rely heavily on research, while Kingdom Securities and NCBA Investment Bank may be convenient for customers already using their associated banking groups.
The most important decision is not the ranking position. It is whether the intermediary has the right licence, provides the ownership structure you expect, clearly explains its charges and gives you secure access to your money and securities.
Investment Risk Disclaimer
This page provides general information and does not constitute personal investment, tax or legal advice. Share prices and dividends can rise or fall, and investors may receive less than they invested. Verify licence status, product ownership, fees, tax treatment and account eligibility before depositing funds. Tax obligations depend on the investor’s circumstances and current KRA rules.
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