Broker reviews · Kenya 2026

Every broker we've tested in Kenya

Independent broker reviews written for Kenyan investors, scored across fees, safety, platforms, assets, support and local suitability. Sorted by overall rating.

Advertiser disclosure. We may earn a commission if you open an account through our links. See how we make money. This never affects our ratings.

4.3

#1 by overall score

Exness

Joint highest overall score

Exness (KE) Limited holds CMA Licence Number 162. Exness is a large global broker, known for tight spreads and fast M-Pesa funding, and it serves Kenyans through its own CMA-licensed Kenyan company rather than through a company licensed outside Kenya.

Min. depositKSh 1,500 (about USD 11.54 on 22 Oct 2026)

RegulationCMA

Islamic accountYes: swap-free, shown as Qualified on our account

Account openingSame day: created 09:11, proof of residence verified 13:51, funded 14:17 on 22 Oct 2026

Fees 4.0Safety 4.5Platform 4.5Assets 3.5Support 4.5

Visit Exness Read full review →

Your capital is at risk.

4.3

#2 by overall score

XM

Most education material we found

TPXMGLOBAL Kenya Limited holds CMA Licence Number 233 as a non-dealing online forex broker. XM is a large global broker on the MetaTrader platforms, with a USD 5 minimum on its account cards (KSh 2,100 by M-Pesa), and it serves Kenyans through its own CMA-licensed Kenyan company rather than through a company licensed outside Kenya.

Min. depositUSD 5 on the account cards; KSh 2,100 by M-Pesa (about USD 16)

RegulationCMA

Islamic accountYes: swap-free on Ultra Low accounts, which are not bonus-eligible

Account openingUnder half an hour: registered 23:11, verified 23:38 on 23 Oct 2026

Fees 3.5Safety 4.5Platform 4.5Assets 4.0

Visit XM Read full review →

Your capital is at risk.

4.3

#3 by overall score

Pepperstone

Joint highest fees score

Pepperstone Markets Kenya Limited holds CMA Licence Number 128. Pepperstone is a large global broker, known for low spreads and a choice of MetaTrader, TradingView and cTrader, and it serves Kenyans through its own CMA-licensed Kenyan company rather than through a company licensed outside Kenya.

Min. depositUSD 10 (KSh 1,298 by M-Pesa on 26 Oct 2026)

RegulationCMA

Islamic accountNo: Pepperstone's swap-free page lists the countries it offers swap-free accounts to, and Kenya is not among them (pepperstone.com/en-af, 2 Nov 2026)

Account openingSign-up and Sumsub upload in about 45 minutes on 23 Oct 2026; verification quoted at up to 24 hours

Fees 4.5Safety 4.5Platform 4.5Assets 3.5

Visit Pepperstone Read full review →

Your capital is at risk.

4.1

#4 by overall score

HFM

HFM Investments Ltd holds CMA Licence Number 155 as a non-dealing online foreign exchange broker. HFM is a global group, and in Kenya it trades through its own CMA-licensed company, with free M-Pesa deposits and withdrawals, MetaTrader 4 and 5, its own web and mobile platform, and a wide choice of account types.

Min. depositNone on Premium and Cent; M-Pesa from KSh 1,298.41 (about USD 10); we deposited KSh 1,300 (USD 10.01, 23 Oct 2026)

RegulationCMA

Islamic accountYes: Every account type in the client area is marked swap free; HFM may charge fees on swap-free accounts and withdraw the status if it judges it misused (Client Agreement, 25)

Account openingAbout 20 minutes: registration from about 17:29, identity verified at 17:49 on 23 Oct 2026

Fees 3.5Safety 4.0Platform 4.5Assets 4.0Support 4.0

Visit HFM Read full review →

Your capital is at risk.

4.1

#5 by overall score

FP Markets

FP Markets Limited holds CMA Licence Number 193 as a non-dealing online forex broker. FP Markets is a large Australian group, known for raw spreads with a commission and a wide choice of platforms, and it serves Kenyans through its own CMA-licensed Kenyan company rather than through a company licensed outside Kenya.

Min. depositNone in practice: M-Pesa from USD 1; we deposited KSh 1,296 (USD 10.00, 26 Oct 2026)

RegulationCMA

Islamic accountYes: Swap-Free Standard and Swap-Free Raw account types

Account openingAbout half an hour: application at 17:21, approval email at 17:49 on 24 Oct 2026

Fees 4.5Safety 3.5Platform 4.5Assets 4.0Support 4.0

Visit FP Markets Read full review →

Your capital is at risk.

4.0

#6 by overall score

IC Markets

IC Markets (KE) Limited holds CMA Licence Number 199 as a non-dealing online forex broker. IC Markets is a large global broker, known for raw spreads with a commission and a choice of MetaTrader and cTrader, and it serves Kenyans through its own CMA-licensed Kenyan company rather than through a company licensed outside Kenya.

Min. depositNone on any account type; we deposited KSh 1,300 (USD 9.89, 26 Oct 2026)

RegulationCMA

Islamic accountYes: For clients of Muslim faith only, chosen at registration or converted by email to support, a live chat agent said (2 Nov 2026); the terms the agent linked are a global PDF named for the FSA, not the Kenyan company's documents. Not tested

Account openingApplication in about ten minutes on 24 Oct 2026; documents then went into a manual review, and the account showed as approved by 2 Nov 2026

Fees 4.0Safety 4.0Platform 4.5Assets 4.0Support 3.5

Visit IC Markets Read full review →

Your capital is at risk.

3.9

#7 by overall score

AvaTrade

Ava Trade Kenya Limited holds CMA Licence Number 262 as a non-dealing online foreign exchange broker. AvaTrade, founded in 2006, pairs its own WebTrader and app with MetaTrader 5, a commission-free CFD account with tight EUR/USD spreads, and M-Pesa funding in both directions.

Min. depositUSD 50 for Kenya, a live chat agent said; the site lists USD 100 for cards and wires (2 Nov 2026). We deposited KSh 6,497 (USD 50.00) by M-Pesa (28 Oct 2026)

RegulationCMA

Islamic accountYes: Swap-free on request by email once verified and funded, with no overnight fees for up to five days (AvaTrade's Kenyan site, 2 Nov 2026; Terms 26). Not tested

Account openingLogins at once on 24 Oct 2026; ID approved in minutes, full approval by email at 12:05 the next day

Fees 4.0Safety 3.5Platform 4.5Assets 4.0Support 4.0

Visit AvaTrade Read full review →

Your capital is at risk.

3.9

#8 by overall score

FXPesa

FXPesa is the trading name of EGM Securities Limited, which holds CMA Licence Number 107 as a non-dealing online forex broker and is part of the Equiti Group. It is built for Kenyan traders: the Kenyan company holds your account, M-Pesa funds it, and you can keep it in shillings.

Min. depositNone on Standard, USD 100 on Premier; we deposited KSh 1,303 (USD 9.99, 26 Oct 2026)

RegulationCMA

Islamic accountYes: swap-free on request, with a daily admin fee after a grace period; not bonus-eligible

Account openingApplied on the evening of Saturday 24 Oct 2026; accepted at 09:42 on Monday 26 Oct, about 37 hours later

Fees 4.0Safety 3.5Platform 4.5Assets 3.5Support 3.5

Visit FXPesa Read full review →

Your capital is at risk.

3.7

#9 by overall score

Scope Markets

SCFM Limited, trading as Scope Markets, holds CMA Licence Number 123 as a non-dealing online forex broker. Part of the Rostro Group, it offers MetaTrader 5 with raw spreads and a per-lot commission, and it serves Kenyans through its own CMA-licensed Kenyan company rather than through a company licensed outside Kenya.

Min. depositUSD 10, a live chat agent said (2 Nov 2026), and the portal accepted our USD 10.00 (KSh 1,305, 26 Oct 2026); the payment page says USD 20 by M-Pesa

RegulationCMA

Islamic accountYes: Swap-free accounts on request, a live chat agent said (2 Nov 2026); not in the account dialogs, and not tested

Account openingRegistration in minutes on 24 Oct 2026; four verification steps went to a manual review, and the account showed Verified by 26 Oct

Fees 4.0Safety 3.0Platform 4.0Assets 4.0Support 4.0

Visit Scope Markets Read full review →

Your capital is at risk.

3.5

#10 by overall score

Admirals

Admirals KE Limited holds CMA Licence Number 178 as a non-dealing online foreign exchange broker. When we signed up as a Kenyan resident on admiralmarkets.com, our account was opened with Admirals SC Ltd, the group's Seychelles company (SD073). Admirals offers MetaTrader, real stocks and ETFs and fast M-Pesa withdrawals.

Min. depositUSD 25 (Trade.MT5 and Zero.MT5), USD 1 (Invest.MT5); we deposited KSh 3,400 (USD 25.37, 29 Oct 2026)

RegulationCMA Licence 178 (Admirals KE Limited); our sign-up was opened with Admirals SC Ltd, FSA Seychelles Licence SD073

Islamic accountYes: Swap-free on request; status can be revoked without reasons (Islamic account terms, 7)

Account openingProfile verified about 8 minutes after the application (24 Oct 2026); deposit limits lifted after a document review, done by 29 Oct

Fees 3.0Safety 2.5Platform 4.5Assets 4.5Support 3.5

Visit Admirals Read full review →

Your capital is at risk.

Rankings are based on our independent methodology. Trading involves risk; most retail accounts lose money.