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Exness
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CMA Regulated Forex Brokers in Kenya 2026
Last updated October 9, 2026
Selected forex brokers licensed by the Capital Markets Authority (CMA) in Kenya, with the legal entity and licence number shown on the CMA's list of licensees. This is not the full register: confirm any broker on the CMA's own list before you deposit.
How We Ranked
Rankings blend trust, pricing, and platform quality. After our two editorial picks, brokers are ordered by third-party audience activity in Kenya. Risk warning: CFDs carry high risk.
Regulated brokersLow spreadsFast withdrawals
Written by
BrokerAnalysis Research Desk
Fact Checked by
BrokerAnalysis Editorial Team
Personalized broker matching
Need a faster shortlist than reading every Kenya page?
Use the guided matching flow to narrow your next broker by country, budget, and trading platform before you compare the full table.
Last reviewed:
•By:BrokerAnalysis Research Desk
•Fact-checked by:BrokerAnalysis Editorial Team
Our 2 top picks for CMA Regulated Forex Brokers in Kenya
We stand behind these two. Everything below is a fuller comparison and lower-weight alternatives.
#1 · Best for CMA Regulated Forex Brokers in Kenya
HFM
Accepts Kenya tradersMin. deposit $0
- Excellent mobile app functionality with in-app trading
- No minimum deposit required to start
- Zero account features competitive 0.0 pip spreads with low commission
FCA (UK), CySEC (Cyprus), DFSA (Dubai)
#2 · Best alternative
Pepperstone
Accepts Kenya tradersMin. deposit $0 (Recommended $200)
- Top-tier liquidity with frequent 0.0 pip spreads
- Exceptional platform choice including TradingView and cTrader
- Award-winning 24/5 customer support
ASIC (Australia), FCA (UK), CySEC (Cyprus)
Why these two
Both brokers are shortlisted specifically for CMA Regulated Forex Brokers in Kenya, are regulated, and accept clients for this use case — we gate on regulation and safety first, then rotate the headline across the brokers that genuinely qualify so the same two names don't lead every page. Everything below is the fuller comparison. Both are verified to accept Kenya traders.
CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. Trade only what you can afford to lose.
Which forex brokers are regulated by the CMA in Kenya?
HFM ranks #1 among 5 brokers tested for CMA Regulated Forex Brokers in Kenya and a minimum deposit of KES 0. Each broker holds a verified licence; registration numbers are listed with direct regulator-register links.
Why Trade with a CMA Regulated Broker?
Online forex brokers licensed by the Capital Markets Authority (CMA) operate under the Capital Markets (Online Foreign Exchange Trading) Regulations, which set capital requirements and provide for client money to be held in separate client accounts. Our current ranking starts with HFM where it is available, followed by Pepperstone, FXTM, and Exness. Compare regulation, fees, platforms, account terms, and local funding fit before opening an account. Third-party audience data shows HFM with the strongest Kenya activity among the brokers listed here (Influence 7.43/10).
Country Offers
Browse All PromotionsAvailable offers for Kenya traders
Verified broker incentives that may be available in this market. We keep these below the core safety and pricing checks so the shortlist still feels editorial-first.
Cashback / Rebate
IC Markets
ASIC (Australia)Up to $2.50/Lot Rebate + 21% Comm Off
Raw Trader Plus rebate up to $2.50/lot. Save ~$1.50/lot with 21% lifetime commission discount.
Verified Oct 8, 2026
FXTM
FCA (UK)$500 Welcome Bonus Reward Points
Use code HELLOFXTM on first deposits to unlock up to $500 in reward points after trading targets.
Verified Oct 8, 2026
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5 brokers · how we rank
Entity and number as shown on the CMA's list of licensees. Verify them on the CMA's own list.
| Broker | Withdrawal | License Entity | License No | M-Pesa | Regulation & funding | Action | ||
|---|---|---|---|---|---|---|---|---|
 | — | KES 0 | 24 hours | HFM Investments Limited | License No. 155 | Reported (via a payment gateway) | No tier-1 licence listed | |
| — | KES 0 | 1-2 business days | Pepperstone Markets Kenya Limited | License No. 128 | Listed by Pepperstone | No tier-1 licence listed | |
| — | KES 1300 | 24 hours | Exinity Capital East Africa Limited | License No. 135 | Reported | No tier-1 licence listed | |
| — | KES 130 | Instant | Tadenex Limited (trading as Exness) | License No. 162 | Reported | No tier-1 licence listed | |
| — | KES 26000 | 24-48 hours | IC Markets (KE) Limited | License No. 199 | Not confirmed | No tier-1 licence listed |
Rank 01 · best overall
Spread
—
Min dep.
KES 0
Withdrawal
24 hours
License Entity
HFM Investments Limited
License No
License No. 155
M-Pesa
Reported (via a payment gateway)
Rank 02
Spread
—
Min dep.
KES 0
Withdrawal
1-2 business days
License Entity
Pepperstone Markets Kenya Limited
License No
License No. 128
M-Pesa
Listed by Pepperstone
Rank 03
Spread
—
Min dep.
KES 1300
Withdrawal
24 hours
License Entity
Exinity Capital East Africa Limited
License No
License No. 135
M-Pesa
Reported
Rank 04
Spread
—
Min dep.
KES 130
Withdrawal
Instant
License Entity
Tadenex Limited (trading as Exness)
License No
License No. 162
M-Pesa
Reported
Rank 05
Spread
—
Min dep.
KES 26000
Withdrawal
24-48 hours
License Entity
IC Markets (KE) Limited
License No
License No. 199
M-Pesa
Not confirmed
We earn a commission when you open an account through the buttons above. It does not change the ranking — our methodology. High risk: 68–80% of retail CFD accounts lose money.
Audience activity in Kenya (Influence score, 0–10): HFM 7.43 · FXTM 7.17. A score reflects audience activity, not a recommendation. Source: WikiFX, October 2026.
In-Depth Broker Analysis
Our research team continuously monitors over 100 parameters per broker. Below is a detailed breakdown of our top-rated platforms, including their distinct advantages, ideal user profiles, and potential drawbacks.
HFM Review Summary
HFM Investments Limited, trading as HF Markets, is listed by the CMA under licence no. 155. Third-party reviews say M-Pesa is available through a payment gateway rather than a direct option; confirm in your account.
Pros
- Regulation varies by entity
- Minimum deposit: KES 0
- Multiple platform options
Cons
- Trading conditions vary by country and account type
- Spreads listed at Ultra-Low — compare account types before opening
Pepperstone Review Summary
Pepperstone Markets Kenya Limited carries CMA licence no. 128 on its own legal pages, and Pepperstone's funding page lists M-Pesa. Confirm Kenya-specific terms with Pepperstone.
Pros
- Regulation varies by entity
- Minimum deposit: KES 0
- Multiple platform options
Cons
- Trading conditions vary by country and account type
- Spreads listed at Ultra-Low — compare account types before opening
FXTM Review Summary
Operated in Kenya by Exinity Capital East Africa Limited, which the CMA lists under licence no. 135. Third-party reviews report M-Pesa support.
Pros
- Regulation varies by entity
- Minimum deposit: KES 1300
- Multiple platform options
Cons
- Trading conditions vary by country and account type
- Spreads listed at Standard — compare account types before opening
Exness Review Summary
The CMA lists Tadenex Limited, which trades as Exness in Kenya, under licence no. 162. Third-party reviews report M-Pesa funding; check current limits and processing times with the broker.
Pros
- Regulation varies by entity
- Minimum deposit: KES 130
- Multiple platform options
Cons
- Trading conditions vary by country and account type
- Spreads listed at Ultra-Low — compare account types before opening
IC Markets Review Summary
IC Markets (KE) Limited is listed by the CMA under licence no. 199. We could not confirm M-Pesa funding from an official source; check the available funding methods before you deposit.
Pros
- Regulation varies by entity
- Minimum deposit: KES 26000
- Multiple platform options
Cons
- Trading conditions vary by country and account type
- Spreads listed at Ultra-Low — compare account types before opening
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Frequently Asked Questions About CMA Regulated Forex Brokers in Kenya
Frequently Asked Questions
The CMA is the government regulator responsible for supervising, licensing, and monitoring the activities of market intermediaries, including online forex brokers, in Kenya.
Open the 'List of Licensees' link on the CMA website (cma.or.ke), go to the online foreign exchange brokers section and search for the broker by its legal entity name, not its brand. For example, Exness is listed under Tadenex Limited. If a firm is not on the list, do not deposit.
CMA rules provide for client money to be held in separate client accounts, which helps if a broker fails, but no regulator guarantees you cannot lose money. Forex and CFD trading carries a high risk of loss, and a licence can lapse or change, so check the CMA's list of licensees and the broker's terms before you deposit.
Some do. Pepperstone's own funding page lists M-Pesa, and third-party reviews report it for Exness, HFM and FXTM, in HFM's case through a payment gateway. We could not confirm it for IC Markets. Availability and limits change, so check the broker's Kenya deposit page before you rely on it.
The official list is the CMA's List of Licensees on cma.or.ke. This page shows a selection of CMA-licensed brokers, including HFM, Pepperstone and Exness, with the entity and licence number as listed by the CMA. It is not a complete register, so confirm current status on the CMA's own list.
Top Searched Questions
Which forex brokers are CMA-regulated in Kenya?
The Capital Markets Authority (CMA) of Kenya licenses and regulates forex brokers operating locally. CMA-licensed brokers must maintain minimum capital, segregate client funds, and submit to regular audits. Kenyan traders can also access international brokers that accept M-Pesa deposits and offer KES accounts.
What should Kenyan forex traders look for in a broker?
Kenyan traders should prioritize CMA regulation, M-Pesa deposit/withdrawal support, KES-denominated accounts, and low minimum deposits (many start at $5-$10). Also check for Safaricom Lipa Na M-Pesa integration, fast withdrawal processing, and access to MT4/MT5 platforms.
Information automatically localized based on "forex brokers in kenya" and related trends.
Sources & References
- HFM Trading Accounts— HFM
- Pepperstone Trading Platforms— Pepperstone
- Exness Accounts— Exness
- BrokerAnalysis ranking methodology— BrokerAnalysis
- BrokerAnalysis data sources— BrokerAnalysis
- BrokerAnalysis editorial policy— BrokerAnalysis
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Risk Warning: Forex and CFD trading involves significant risk of loss and may not be suitable for all investors. You could lose more than your initial investment. 68-80% of retail investor accounts lose money when trading CFDs with most providers. Consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.
Not Financial Advice:
Information on this website is for educational and comparison purposes only. This does not constitute financial, investment, or trading advice. How we rank brokers. See Editorial Policy and Data Sources.
Affiliate Disclosure:
BrokerAnalysis may earn commissions from partners listed. This does not influence our rankings or analysis, which are based on our independent methodology. Read our Content Standards.
Regional Availability Notice
Broker availability depends on your country of residence. Some brokers may not accept clients from certain jurisdictions including the USA, Canada, Japan, and others. The comparison table on this page shows the country-acceptance status captured in our latest eligibility checks.