We did not experience a hold time of more than 60 seconds during our tests when connecting. E-mail response to your queries is quite fair. We received a reply usually within 2 hours on weekdays.

But Hotforex does not have local phone support for traders in Kenya. Nevertheless, overall Customer Support services are good. XM Forex is also a highly regulated Forex broker that is regulated with top-tier global Financial Authorities. It is thus regarded as quite secure for traders. XM charges fees with their account only through the spread. They do not charge any additional commission per lot. The fees for XM Ultra-Low Account are among the lowest among leading Forex brokers.

The leverage offered to traders is Traders get to trade in 57 Currency pairs and 1, Stock CFDs. The other asset classes are 9 Equity indices CFDs, 5 CFDs on Energies, 10 Commodity CFDs, and 4 Precious Metals CFDs.

XM however does not offer Crypto CFDs. XM offers customer Support 24X7 via E-mail and Live Chat. We did not experience a hold time of more than 2 minutes when we tested their support with Live Chat at 3 different occasions. A local phone number support in Kenya is not offered by XM. You can however request a call back through E-mail or Live Chat.

Exness has been operating from and is regulated by multiple Tier-1 and Tier-2 Regulators. These include the FCA UK and CYSEC — Cyprus Securities and Exchange Commission. Spread with Exness is variable based on account type but generally they have tight spreads.

The Spreads for Standard Cent Account begin from 0. There is no commission on the trading volume, other than spread. For Standard Account — the costs are based on tight spreads starting from 0. The spreads overall are very low with Exness. Professional ECN Account has raw spread with a commission for each trade. A MetaTrader only broker, Exness offers you to trade on both MT5 and MT4 Platforms. Trade executions are almost instant.

Like Hotforex, there are no fees for withdrawals and deposits. Exness offers multiple instrument classes, including trading forex on pairs of currencies. It also includes 7 Cryptocurrencies, Metals, Energies, and CFDs on Indices and Stocks. Customer Support at Exness is available 24X5. This is via Live Chat and E-mail. Live Chat Support in the English language is offered 24X7. They offer quite good support to the traders as per our tests. However, they too do not offer support through a local phone in Kenya.

ForexTime is regulated in diverse jurisdictions globally. Their top-tier Financial Regulations are with CMA, FCA, CYSEC, and FSCA FSP No. The Standard Account has an average of higher than 2. The FXTM Cent Account has even higher spread. FXTM charges commission for its ECN Account. All deposits are free of charge at FXTM, including for MPesa. However, there are fees for withdrawals depending on the method. You can trade with FXTM through the MetaTrader 4 and 5 platforms.

Their financial instruments include Forex Currency Pairs, Cryptocurrencies, Stocks, CFDs, Commodities, and Precious metals.

FXTM offers fair customer support. Live Chat offers a quick response and we did not find any hold times of over a minute during our test. We got a response to our queries within 3 hours through E-mail on a weekday.

They do not have a local phone number in Kenya. Here are the major factors that we have considered while reviewing the Forex Brokers accepting MPesa:. Top-tier Regulation s : The most crucial factor is the number of Tier-1 Regulators that regulate the Forex Broker. FCA, ASIC, NFA are considered as Tier-1 by the Forex industry.

FSCA and CYSEC are Tier-2 Regulators. If the Forex Broker is listed publicly in a major Stock Exchange, then it is an extra trust factor. Also, if the forex broker is regulated by CMA in Kenya then it is considered safe. This is most important to check in your forex broker. This makes them a well-regulated forex broker with low risk. One of them is FXPesa. Once you have the license no.

There is a high risk that you could lose your deposits with such broker. Overall Fees: The factors considered here are spread, commissions, and charges on withdrawals and deposits. Some of them also levy extra fees where you are trading other CFD instruments. So, it is vital to research the overall fees of the asset that you are seeking to trade.

All regulated CFD brokers have spread comparison table. Make sure to check the fees for the instrument that you want to trade, and see if there is any other regulated broker offering the same instrument at lower fees. Like, the broker in the below table has 0.

There are other brokers with lower fees also. For ex. But if your account is in another base currency like USD, then your funds may be converted into KES at a lower exchange rates than the actual rates.

So, you need to consider this commission too. Although it is not necessarily that the broker is charging this fees, it could be their gateway charging this conversion commission. Also, there must be multi-device support, quick execution, no freezing, and multiple order types. These can significantly enhance your trading comfort. All the 4 regulated forex brokers in Kenya offer the MetaTrader platform. Look for all the features that you would need to actively manage your trading positions.

In generally, all the 6 regulated forex brokers have the same KYC procedure. And the trading account is normally approved within the same day, if all the documents are complete.

You must make sure to submit your genuine documents, otherwise you would face issues during withdrawal of funds from your trading account. Overall Trading Conditions: The execution of orders must be fast without slippage or re-quotes. The best option is to choose a Broker offering Direct Market Access than Market Maker Brokers. You must also be offered negative balance protection so that the loss does not exceed the account balance.

Availability of guaranteed stop-loss protection is also an advantage. The Broker must also offer funds segregation for the security of funds. You must also check if the instrument that you are looking to trade is offered for the lowest fees or not. How is the Customer Support: Customer Support must be accessible 24X5 through Live Chat, E-mail, and Phone. The Chat Support must be helpful with minimal hold time.

The E-mail revert to your queries must be quick and preferably within 1 or 2 hours max. The local phone number support in Kenya will be another plus point. The Knowledge base must provide instant solutions. Check if the broker has a Kenyan phone number on their website. Also, the local brokers will have an Office address where you can visit. All the 6 regulated Non-dealing forex brokers in Kenya have these info on their website.

They have listed their Kenyan phone no. on their contact page. If you are looking for a local broker that has office in Kenya, then we recommend FXPesa , which is the brand of EGM Securities — a CMA regulated broker. What is the minimum deposit required for Forex Trading using MPesa?

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Risk Warning: Investments involve a high level of risk. It is possible to lose all your capital. The information on this site is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation and is not directed at residents of: Australia · Belgium · Canada · Spain · France · Israel · Japan · Latvia · New Zealand · Portugal · Turkey · United States ·.

www App Store Google Play. XM Group. Click here to visit XM Group ». Click here to visit LiteFinance ». Click here to visit Pepperstone ». Click here to visit Tickmill ».

We have ranked the best forex brokers in Kenya that accepts M-Pesa from traders. The use of Mpesa for deposits and withdrawals on Forex trading platforms has gained wide acceptance in recent times, especially in Kenya. To assist the Kenyan clients, we tracked and compared five forex brokers in Kenya that accepts Mpesa for payments. Our review adopts a variety of parameters as a guide. These parameters are safety regulation , instruments offered, trading conditions, fees, platform used for trading, deposit, and withdrawal time with Mpesa.

FXPesa is a trading name for EGM Securities limited. This broker was established in and is headquartered in Kenya. FxPesa is registered with the Capital Markets Authority of Kenya C.

Its affiliate company Equity Capital Limited is registered by the FCA in the U. FXPesa offers trading on two account types; the Executive and Premiere accounts. FXPesa base account currency is the USD only. No commission is charged on FxPesa executive account. This broker offers maximum leverage of on forex and precious metals, on CFDs and on equities. FXPesa offers over instruments including 62 currency pairs, 6 precious metals, 37 CFDs and over shares.

FxPesa Premiere account has a spread beginning from 0pip while its executive account spread starts from 1. Trading on FxPesa is carried out on the MT4 and web. The FXPesa app is available on Android and iOS and can be downloaded from their various stores. Deposits and withdrawals are made on FXPesa across several methods such as bank transfer, credit and debit cards, Skrill, Neteller, and mobile payment methods such as MTNMoney, EazzyPay, Mpesa, Airtel Money, Vodacom, etc.

The two top-tier regulators provide the needed trust and confidence of Kenya traders in the broker. Exness offers trading on two category account types. They are; the Standard and Professional accounts. Under the Standard account type, we have the Standard account and the standard cent account. For the Professional account, we have the pro, zero, and raw spread accounts. On the standard account type, Exness offers a leverage of 1: Unlimited.

The minimum deposit depends on the payment method and there is no trading commission. Exness accepts deposits and withdrawals via MPesa. There are no charges or fees on deposits and withdrawals using MPesa. Deposits and withdrawals are processed instantly via MPesa. This broker is regulated by the Australian Securities and Investment Commission ASIC - a tier-1 regulator, and CySEC- a tier-2 regulator.

XM is not regulated by the CMA in Kenya. Kenyan clients at XM are registered under the regulation of IFSC Belize. Their parent company Trading Point of Financial Instruments is regulated by several top-tier regulatory authorities. XM offers 3 live account types with different fee structures. The maximum leverage on forex pairs at XM is XM Forex offers trading on four account types; standard, micro, shares and ultra-low account.

There is no commission on all accounts except the shares account. FXTM broker firm was established in and is one of only four Forex brokerage firms registered and regulated by the Capital Markets Authority CMA in Kenya. FXTM is also registered by the FCA in the U. K and the CySEC in Cyprus. Both are tier-1 and tier-2 regulators respectively.

This denotes high trust from the Kenyan public. FXTM offers its clients three account types. The micro, advantage, and advantage plus account. Instruments such as indices, stock CFDs, and stocks are not traded on this account type. Instruments traded include; stock CFDs, stocks, stock baskets, indices, commodities, metals, forex, and FX indices. It is available on the MT4 and MT5 platforms and offers the same instruments as the Advantage account. Kenyan traders can instantly deposit and withdraw funds in KSH using an African local solution Mpesa.

HF Markets, previously known as HotForex is regulated by the FCA in the U. K with reference number It is also registered by other lower-tier regulators in Dubai, Belize etc.

It is a highly trustworthy broker. HF Markets offers six different account types for traders to choose from. They are named Premium, Zero, Micro, PAMM, HF Copy and Auto. All account has a spread of 1. The leverage limit is for the premium, zero and auto accounts. The micro account has a leverage of All accounts have negative balance protection. The minimum contract size is 0. The minimum deposit varies across the different accounts. Only the zero spread account has a commission on trades.

The account currencies are USD, EUR, NGN and JPY. Deposits and withdrawals are carried out across different platforms. HotForex offers a large variety of instruments such as forex, metals, energies, indices, shares, commodities, stock DMA, ETF and bonds.

Trading on HF Markets is carried out on the MT4, web and MT5 platforms which are available on different devices. Scope Markets is a Kenya based forex and CFD broker that is regulated by CMA accepts deposits and withdrawal through mPesa.

Scope Markets is regulated by the Capital Markets Authority CMA of Kenya with license number The legal entity of Scope Markets is registered as SCFM Limited for clients residing in Kenya. Scope Markets is an international forex broker that accepts clients from multiple nations and is also regulated by CySEC of EU and FSCA of South Africa. The spreads start from 0.

Clients can trade with more than CFD instruments including 44 currency pairs at Scope Markets. They support the most widely used MT4 and MT5 trading platforms with the same account type and pricing structure. The customer support services at Scope Markets are excellent for Kenyan clients. Support staff can be reached out through phone, live chat, and email.

mPesa is a phone-based payment service provider. Through mPesa, money can be transferred through a SIM card or mobile phone number. mPesa is a widely used payment method in Kenya. Several CMA-regulated forex and CFD broker accept deposits and withdrawals through mPesa in Kenya. To deposit through m-Pesa, traders need to open an account with any of the above-listed brokers that accept mPesa.

The account opening process at forex brokers can be completed online by providing basic details and document verification. Once the account opening is complete, clients can deposit through mPesa following these steps. The deposit page is generally easily visible on the dashboard of mobile app or website of the broker.

On the deposit screen, there will be multiple options to deposit funds into the account. Traders must carefully choose the account in which the deposits are to be made and the amount that needs to be deposited. Make sure the phone number linked with the forex trading account is the same as the one used for the mPesa account. For brokers that do not have KES as the base currency, traders can also choose the currency in which the deposits will be made.

Once you made the request to deposit at a forex broker through mPesa, the mPesa request to confirm will pop up on your mobile phone linked with mPesa and forex broker. This requires mPesa PIN for confirmation of the payment.

Once, the PIN is entered through the mobile phone, the deposit will be processed. Generally, mPesa deposits are reflected in the account within a few minutes but processing time depends on the broker chosen.

For Kenyans looking forward to trading in the global forex market, one of the requirements you need is a broker. In this guide, we have curated factors to be considered when choosing a forex broker. In Kenya, the regulatory authority is the Capital Market Authority CMA.

Only six brokers are registered and regulated by the CMA. They are FXPesa, Pepperstone, Scope Market Kenya, and FXTM. Note: In the event, that a broker is not registered by the CMA, a search result of its name on the CMA website will be zero results found. Exness was used as an example here. Or you can check the list of Licensees under CMA, and there you can check the list of all the approved Online Forex Brokers. Refer to the following screenshot.

You can download the document, and there you will find the list of all the updated CMA Licensed Forex Brokers in Kenya.

Home Forex Brokers in Kenya that Accept MPesa Best Forex Brokers in Kenya that Accept MPesa We've listed some Best Forex Brokers that accepts MPesa from Kenya traders. Deposits made via MPesa are credited instantly, while bank transfers take up to 24 hours. The use of Mpesa for deposits and withdrawals on Forex trading platforms has gained wide acceptance in recent times, especially in Kenya. FSCA and CYSEC are Tier-2 Regulators. Top-tier Regulation s : The most crucial factor is the number of Tier-1 Regulators that regulate the Forex Broker. To deposit through m-Pesa, traders need to open an account with any of the above-listed brokers that accept mPesa. You must also be offered negative balance protection so that the loss does not exceed the account balance.

Categories:

• Binary Options online
• Forex
• Forex Bitcoin
• Binary Options
• Forex Brokers