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CMA Warning

Is EastAfricaFX Markets a Scam?

EastAfricaFX Markets was flagged by CMA (Kenya) on 2024. Cited reason: Unauthorized financial services.

What this warning means

Kenya's Capital Markets Authority (CMA) licenses online forex brokers under the Capital Markets (Online Foreign Exchange Trading) Regulations. A firm warned by the CMA is operating outside this licensing regime.

How to protect yourself

  • Verify any broker's license number directly on the regulator's own public register — never rely on a logo or claim shown on the firm's own website.
  • Watch for "clone firm" tactics: copying the name, address, or license number of a real regulated broker.
  • Never wire funds, send crypto, or share remote-access software with a firm you cannot verify on an official regulator register.
  • Use our Scam Broker Protect tool to check a name against our full watchlist before you deposit.

Verified regulated alternatives

These brokers are ones we've vetted and verified — regulated, with real trading track records, unlike EastAfricaFX Markets.

EasyMarkets
EasyMarkets
★★★★ 4.1/5
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GO Markets
GO Markets
★★★★★ 4.5/5
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Deriv
Deriv
★★★★ 4.0/5
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Get alerts for new scam-broker warnings

We track hundreds of flagged entities like EastAfricaFX Markets and add new regulator warnings (FCA, ASIC, CFTC, CySEC and more) every week. Get the full watchlist, plus an email the moment a new one is flagged — so you can check before you deposit.

Frequently asked questions

EastAfricaFX Markets was flagged by CMA (Kenya) on 2024. That warning means it is not shown as authorized to provide the financial services it offers in the jurisdiction that warning covers. Always verify a firm's license directly on the regulator's own register before depositing.

Stop sending further funds, keep records of all communications and transactions, and report the firm to the regulator that issued the warning (CMA (Kenya)) as well as your local financial regulator and, if a bank transfer or card was used, your bank or card issuer. Our /scam-broker-protect tool lists reporting contacts for major regulators.

This page reflects a warning entry compiled from public regulatory warning lists and industry watchlists: CMA (Kenya), dated 2024. We do not independently investigate every entity beyond what the regulator has published — always check the regulator's own live register for the current status.

Many entities on regulator warning lists are "clone firms" that copy the name, branding, or website of a genuinely licensed broker to confuse traders. If you were expecting to deal with a well-known regulated broker, verify you are on that broker's official, regulator-listed domain before depositing.

Reviewed by BrokerAnalysis Research Desk, fact-checked by BrokerAnalysis Editorial Team. Sourced from public regulator warning lists — see our methodology. If you believe this listing is inaccurate, contact us.