Choosing a forex broker in Kenya: what can actually be checked
This page does not rank brokers and does not score them. It shows who is licensed by the CMA, what each licence covers, and the four checks that are possible before you deposit.
We do not publish a ranking, and here is why
A ranking of brokers is an opinion dressed as a measurement. The numbers that would make it honest — real spreads at the hour you trade, real withdrawal times, real rejection rates — are not published by anyone in a form that can be verified, and the sites that rank brokers are usually paid by the firms they rank.
What can be verified is the register: who is allowed to take your money, for which service, and whether that permission is valid today. That is what this page is.
What the 16 licensed entities are allowed to do
| Category | Firms | Examples from the register |
|---|---|---|
| Non-dealing online FX broker | 14 | EGM Securities Limited, SCFM Limited, Pepperstone Markets Kenya Limited, Exinity Capital East Africa Limited and 10 more |
| Dealing online FX broker | 2 | Empire FX Trade Limited, CC Kenya Securities Limited |
Dealing and non-dealing are different bargains
A dealing broker may take the other side of your trade: when you lose, the firm can be the counterparty that gains. A non-dealing broker passes the order to someone else and earns from the spread or a commission instead. Both can hold a licence, and the register says which one you are dealing with — that single word changes whose interest sits opposite yours.
Neither category is a quality grade. It tells you where the conflict of interest lives, so you can read the rest of the terms knowing what to look for.
Four checks that are possible
All four take one browser tab and about five minutes. None of them requires trusting a review site, including this one.
Open the CMA register- 1The licence covers the service you are about to useA licence names activities. A firm licensed for one of them is not supervised for another, and the register is where that is written down - not the broker's own page.
- 2The entity in your agreement is the entity on the registerGroups onboard clients through several companies. The name in the client agreement and on the payment details is the one that has to appear here, letter for letter.
- 3The status is current on the day you depositA register is a snapshot. Suspended, lapsed or revoked means stop, and a name you cannot find at all means there is no local supervision behind your money.
- 4What is not in the register cannot be verifiedSpreads, execution speed, bonuses and awards are claims. Nothing on this page repeats them, because there is no public document to check them against.
CMA-licensed brokers in Kenya
- Checked
- 2026-09-29
- Source
- cma.or.ke
- Entries
- 16
| Licensee | Licence no. | Activity | Status |
|---|---|---|---|
| EGM Securities Limited | 107 | Non-dealing online FX broker · trades as FX Pesa | Licensed |
| SCFM Limited | 123 | Non-dealing online FX broker · trades as Scope Markets | Licensed |
| Pepperstone Markets Kenya Limited | 128 | Non-dealing online FX broker · trades as Pepperstone | Licensed |
| Exinity Capital East Africa Limited | 135 | Non-dealing online FX broker · trades as Exinity | Licensed |
| HFM Investments Limited | 155 | Non-dealing online FX broker · trades as HF Markets | Licensed |
| Windsor Markets Kenya Limited | 156 | Non-dealing online FX broker · trades as Windsor Brokers | Licensed |
| Exness KE Limited | 162 | Non-dealing online FX broker · trades as Exness | Licensed |
| Ingot Ke Limited | 173 | Non-dealing online FX broker · trades as Ingot Brokers | Licensed |
| Admirals KE Limited | 178 | Non-dealing online FX broker · trades as Admiral Markets | Licensed |
| FP Markets Limited | 193 | Non-dealing online FX broker · trades as FP Markets | Licensed |
| IC Markets (KE) Limited | 199 | Non-dealing online FX broker · trades as IC Markets | Licensed |
| Anzo Capital Limited | 219 | Non-dealing online FX broker · trades as Anzo Capital | Licensed |
| TPXMGlobal Kenya Limited | 233 | Non-dealing online FX broker · trades as TPXM | Licensed |
| Ava Trade Kenya Limited | 262 | Non-dealing online FX broker · trades as AvaTrade | Licensed |
| Empire FX Trade Limited | 203 | Dealing online FX broker · trades as Empire FX | Licensed |
| CC Kenya Securities Limited | 244 | Dealing online FX broker · trades as Capital.com | Licensed |