liteforex

Online trading forex in Kenya is becoming increasingly popular. Obviously you do want to trade with a forex broker, which is regulated, however it is not a must for a broker to be regulated by the Capital Markets Authority (CMA), which is the financial regulatory body in Kenya,  in order to accept clients from Kenya. 

Apart from CMA regulation, you might come across other well-known and highly respected regulatory bodies such as FCA UK, CySEC in Cyprus, ASIC in Australia. All of these agencies apply strict rules and regulation standards upon brokers to keep fraud at bay. So if you sign up with a forex brokerage regulated by any of these agencies, you minimize your exposure to fraud and your money will be safe.

Best Forex Brokers Kenya

How to select the best forex broker in Kenya? Our team has worked hard to compare and test all sorts of online brokers an create a list of brokers which accept new traders from Kenya. Below you can find our complete and comprehensive guide and reviews of the top picks based on the regulation, security, platform, spreads, overall features and terms, customer service, payment methods and more.

Kenya Forex Brokers Comparison

 

Regulated BrokerRatingDemoLeverageBonusPlatformsRegulationMin DepositPayments
OctaFX9yes1:500up to 50%MetaTrader 4, Metatrader 5, cTraderFCA UK5Neteller, Skrill, Fasapay, Visa, Mastercard, Malaysian, Vietnamese, Indian, Indonesian, Bangladeshi local banks, Bitcoin, Unionpay
LiteForex 8yes1:50030% + 15%Metatrader 4, Metatrader 5, WebTerminalCySEC, Marshal Islands Business Corporation Act.10credit cards, wire transfer, litecoin, bitcoin, skrill, neteller, perfect money, ok pay, qiwi, wallet one
XM8yes1:888$30 no depositMetaTrader 4, Metatrader 5, XM WebtraderCySEC, FCA UK, ASIC Australia, IFSC Belize5Credit Card (Visa, Visa Electron, MasterCard, Switch, and Solo), Neteller, Skrill, Wire Transfer, Western Union, MoneyGram, WebMoney, China UnionPay, Local Bank Transfer, SOFORT, iDEAL, paysafe card, QIWI, CASHU, ABAOOS, MONETA, giro pay,Przelewy24,l Astro Pay Card, FasaPay
AvaTrade 7yes1:400100% AvaTrader, MetaTrader 4, MetaTrader Floating Spread, Mac Trading, Web Trading, Mobile Trading, Automatic Trading, AvaOptionsCentral Bank of Ireland, ASIC, Financial Services Commission of British Virgin Island100Credit Cards, Debit Cards, Skrill, Wire Transfer, PayPal, Neteller, WebMoney
Pepperstone7yes1:500100% Match BonusMetatrader 4, Metatrader 5, cTrader, cAlgo, cMirrorASIC, FCA UK200bPay, credit cards, Paypal
FP Markets6yes1:50010% credit bonusMetaTrader 4 (MT4), IRESS, Mobile tradingASIC200credit cards, UnionPay, Neteller, Skrill (3% fee), Wire transfer, BPay and broker-to-broker transfer
ForexMart6yes1:1,000$150 no deposit neededMetatrader 4CySEC1credit cards, neteller, skrill, paypal, paxum
TradeFW6yes1:30https://www.forexexplore.com/forex-brokers/tradefw-reviewCysec0Bank wire, Credit/Debit Card.
FxPro5yes1:500up to $1,000FxPro cTrader, FxPro cTrader Web, MT4 Client Terminal, MT4 MultiTerminal, MT4 WebTrader, MT4 Premium FCA, CySEC100Credit/Debit Card, Bank Wire, PayPal, Neteller, Skrill
FXCM5yes1:200-Trading Station II, MetaTrader 4, Active Trader, Forex System Selector UK Financial Conduct Authority, AFSL 250Credit/Debit card, Online Check, Bank Wire, Paper Check
Plus5005yes1:20030%Plus500Israel Securities Authority500Skrill, Credit Cards, Wire Transfer
IronFX5yes1:50040%Metatrader 4ASIC, CySEC, DFSA, FCA UK, FSB, UCRFIN, CRFIN, Member of Eurex Exchange, Consob, BaFIN100credit cards, Fasapay, neteller, qiwi, skrill, webmoney, wire transfer
Forex.com4yes1:200-ForexTrader platform (in-house), MetaTrader 4CFTC, NFA, FCA (UK), ASIC (Australia), ILLROC (Canada), SFC (Hong Kong), FFAJ (Japan)50wire transfer, Credit/Debit Card, Check
HYCM4yes1:40025% up to $5,000Metatrader 4FCA UK, CySEC, SFC100credit cards, wire transfer, Skrill, webmoney
AdvancedMarkets4yes1:50-Advanced Trader/Pro/Prime, Fortex FX Australian AFSL, ASIC500Wire, Check
CMTrading4yes1:40015% matchMetaTrader 4, SirixFinancial Services Board (FSB) South Africa200credit/debit cards, Wire transfer, CashU ,Skrill
Blueberry Markets4yes1:500MetaTrader 4ASIC100credit cards, wire transfer, POLi, Skrill
Priorfx4yes1:200Metatrader 4, Webtrader, AutotradeCySEC, FCA UK, MiFID250wire transfer, credit cards, Skrill, Neteller, PriorFX prepaid card, Yandex, Webmoney, Qiwi, UnionPay
FXDD3yes1:200-MetaTrader4, FXDD Trader, Power Trader, FXDD Auto, MTXtremeMalta Financial Services Authority (MFSA)100Wire, PayPal, Check, BPS
Tallinex3yes1:1,000Metatrader 4FSA of St. Vincent and The Grenadines100credit cards, wire transfer, Skrill, Neteller
Oanda3yes1:50Metatrader 4, FXtradeNFA1check, Credit cards, PayPal, Wire transfer
iFOREX3yes1:400-FXnet TraderHFSA in Hungary, CySEC100credit cards, wire transfer
DFMarkets3yes1:20010% Trading Credit Promotion up to $1,000DFTrader, DF WebTrader, DF MobileFCA100Bank wire, Credit/Debit cards
Tickmill3yes1:500-MetaTrader 4, WebtraderFCA UK, FSA Seychelles100wire transfer (commission are charged), credit/debit cards, Skrill, Neteller, FasaPay, UnionPay and WebMoney
TenkoFX3yes1:500MetaTrader 4, WebtraderInternational Financial Services Commission of Belize10Skrill, Neteller, FasaPay, Webmoney, Yandex Money, Qiwi
Z.com Trade3yes1:200 Z.com trader web, Z.com trader pro (demo account only)FCA UK1credit cards, wire transfer, china unionpay, skrill
Saxo Bank2yes1:100n/aSaxoTraderDanish Financial Services Authority and operates in the UAE5000Wire
AAAfx2yes1:200up to 30%ZTP, MetaTrader 4, Binary options webtrader, ZulutradeHCMC (Greece)300Wire, Credit Card, Skrill, Neteller, giropay, EPS, directpay24, teleingreso, ideal, qiwi
XTB2yes1:200Metatrader 4, xStation, xMobileCNMV (Spain), FCA (UK), FSA (Poland)250Credit cards, Neteller, Paypal, Skrill, Wire transfer
EasyMarkets2yes1:100Metatrader 4, EasyMarkets web-based platformASIC (Australia), CySEC (Cyprus)100credit cards, neteller, Skrill, Webmney, wire transfer
CityIndex2yes1:400-MT4 (MetaTrader 4), Advantage Web, Advantage Trader, iPhone, Android, Windows Phone App, iPad and Tablet AppTrademark of GAIN Capital UK Ltd - Regulated by FCA100Credit/Debit Cards
Freshforex2yes1:1000SIGN-UP BONUS ¢100!Metatrader 4KROUFR1Debit/credit cards, Neteller, OKPAY, W1, QIWI, Webmoney, Skrill, FasaPay, Contact, Wire transfer
eToro 1yes1:400; 1:1 for Crypto Currencies-eToro PlatformCySec, NFA200Credit Cards, Debit Cards, Paypal, Neteller, Skrill, Webmoney, Wire Transfer
Tifia1yes1:1,000Metatrader 4, webtraderVanuatu Financial Services Commission VFSC10wire transfer, credit cards, skrill, neteller, perfect money, fasapay, okpay
InstaForex 1yes1:1,000$100 No Deposit BonusMetaTrader 4, Metatrader 5, WebtraderRAFMM1Bitcoin, CashU, credit cards, EgoPay, Neteller, Skrill, Ukash, UnionPay, WebMoney, wire transfer
FXOpen1yes1:500$100MetaTrader 4ASIC, FCA UK, Financial Dispute Resolution Scheme1Wire, WebMoney, AlertPay, CashU, c-gold, PerfectMoney
House of Borse1yes1:100MetaTrader 4FCA UK50000credit cards, wire transfer
Igofx1yes1:1,000Metatrader 4Republic of Vanuatu Finance Service Commission1wire transfer, credit cards, perfect money
Vipro Markets1yes1:500MetaTrader 4 CySEC25credit cards, Neteller, Skrill, Wire transfer
Fort Financial Services1yes1:1,000MetaTrader 4, CQG, Ninja trader, binary optionsIFSC5Credit cards, webmoney, Skrill, Neteller, perfect money, fasapay, wire transfer
Formax Prime Capital1yes1:200MetaTrader 4FCA UK1000Skrill, Credit cards, Wire transfer, Neteller
TraderTrust1yes1:200100% upto $5,000SmartForexCySec, VFCS100Skrill, Credit Cards
MEX Exchange1yes1:500Metatrader 4ASIC25Neteller, Skrill, Fasapay, UnionPay, Credit Cards, Wire Transfer
Tegasfx1yes1:200Metatrader 4IBC200wire transfer, Neteller, Credit Cards
Forexer1yes1:500Forexer platform (Metatrader 5 version)FMA200wire transfer
CMS Forex1yes1:50VT Trader, MetaTrader 4FCA250Credit/Debit Cards, Wire Transfer
Synergy FX1yes1:500MetaTrader 4ASIC, AFSL500credit cards, skrill, wire transfer
FCI Markets1yes1:100Currenex, FCI NetStation, MetaTrader 4FCA250credit cards, neteller, skrill, wire transfer
Fortrade1yes1:200FortraderFCA500wire transfer, credit cards, skrill, neteller
FXGiants1yes1:500MetaTrader 4FCA500credit cards, neteller, paypal, skrill, unionpay, Webmoney, Wire Transfer
FXGlobe1yes1:500MetaTrader 4CySEC250Credit cards, Neteller, Skrill, Wire transfer
FXlider1yes1:200MetaTrader 4, Sirix, ZuluTrade, FXlider mobile, FXlider Copy Trader, FXlider TraderFCA100wire transfer, credit cards, neteller, skrill
FXoro1yes1:400Metatrader 4CySEC200credit cards, wire transfer, skrill, neteller, ecoPayz, CashU
FXprimus1yes1:500Metatrader 4Cysec100Bitcoin, China UnionPay, FasaPay, Neteller, Skrill, Wire Transfer
Infinox1yes1:300Metatrader 4FCA UK100credit cards, wire transfer, skrill, neteller, china unionpay
Itrader1yes1:500MetaTrader 4, Webtrader (in-house), MobileCySEC250wire transfer, credit cards
JCMFX1yes1:1,000MetaTrader 4FSA10credit cards, FasaPay, Wire Transfer, Neteller, Skrill
Larson&Holz1yes1:500Metatrader 4, Web TraderFMRRC, NAFD100credit cards, wire transfer, neteller, paypal, Yandex, liqpay, alfa click, beeline, mtc, perfect money
LCG1yes1:500MetaTrader 4, LCG Trader (web-based, ECN accounts only)FCA UK1wire transfer, debit/credit cards, Skrill
Mahi FX1yes1:100Metatrader 4, MahiFXFCA UK, ASIC, FMA1wire transfer, credit cards
Pricemarkets1yes1:400MetaTrader 4 ECN, Currenex ECN, Integral FX, Liquid-x, Hotspot FXFCA UK500wire transfer, credit cards
Rallytade1yes1;1,000Metatrader 4, xStation (web-based), xSocial, xOptionsFinaCOM100credit cards, neteller, skrill, Interswitch, Pocketmoni, etraszact, perfectMoney, WebMoney, VoguePay
Range Markets 1yes1:500Metatrader 4FSA of St. Vincent and the Grenadines100Neteller, Credit Cards, wire transfer
Rekuten Securities1yes1:50MarketSpeed FX, Trading Station (inherited from FXCM)SFC1wire transfer, checks, ATM (only for local residents)
Roboforex1yes1:500MetaTrader 4, cTraderCysec, IFSC, FSP, FSCL1credit cards, QIWI wallet, webmoney, Yandex.money, RBK money, Skrill, FasaPay, CashU, Payoneer, China UnionPay, Neteller, Perfect Money
Templefx1yes1:400MetaTrader 4, TempleFX Trader (web-based)FCA UK50Wire transfer, credit cards, Skrill, Sofort, Neteller, UnionPay
Tradeo1yescredit cards, wire transfer, Skrill and Neteller20%Tradeo webtrader, Metatrader 4CySEC250
Trading2121yes1:200Trading212FCA UK100wire transfers, credit and debit cards, PayPal, Dotpay, Giropay, SafetyPay, Carte Bleue, Mister Cash, Direct eBanking, CashU and UnionPay
XCFD1yes1:10050% welcome bonus in-house XCFDVanuatu FSC. The broker lost its regulation from FSP New Zealand10credit cards, skrill, webmoney, giropay, unionpay, sofort, neteller, bitcoin, wire transfer
CMCMarkets0yes500:1-Next Generation web-basedFCA1Credit cards, Wire Transfer
Dukascopy0yes1:500-DukascopyKPMG ARIF250Wire, Bank Guarantee, Standby letter of Credit Segregated Accounts
AAAECN0yes1:200MetaTrader 4IFSA of St. Vincent100credit cards, wire transfe
ActivTrades0yes1:400Metatrader 4, ActivtraderFCA100Credit Card, Wire transfer, neteller, skrill, sofort
Blackwell Global0yes1:200-MetaTrader 4, Blackwell Pro, MobileFinancial Conduct Authority2000redit/debit cards, Neteller, Skrill, Wire transfer
FBS0yesup to 1:3,000$123 Welcome BonusMetaTrader 4, Metatrader 5, WebtradingIFSC; Cysec1credit cards, fasapay, Indonesia local banks, Neteller, okpay, perfectmoney, Skrill, Webmoney, wire transfer, Thai local banks, Exchangers, Malaysian banks and Bitcoin by Skrill
TrioMarkets0yes1:300-MetaTrader 4, Sirix WebtraderCySEC100Credit Card, Wire, Skrill, Neteller, Paypal and CashU
Markets.com0yes1:200up to $2,000Meta Trader 4,MarketTrader, Market WebTrader, Market Java Trader, Market Mobile Trader, Market WAP Trader, Market iTrader, Market AutoTraderCySEC, FSCA South Africa 100Credit/Debit Cards, Wire Transfer, Webmoney, Local Payments
YouTradeFX0yes1:500up to $2,000Metatrader 4, WebtraderFSA100Credit Cards, Skrill, Neteller, Paypal, Wire Transfer
24FX0yes1:400MetaTrader4, Sirix WebTrader, MobileCySEC250Wire Transfer, Credit Card, Neteller, Skrill
Orbex0yes1:500MetaTrader 4CySEC500Skrill, Neteller, Wire Transfer, Credit Cards, CashU, Webmoney
GrandCapital0yes500:1$500 no depositMetaTrader 4, WebTraderFinancial Commission FinaCom, EDR Hong Kong external dispute resolution organization10Credit card, Neteller, Webmoney, CashU, Fasapay, Scrill, Webmoney
10Markets0yes1:200n/aMetaTrader 4, 10Markets WebTrader200Debit/Credit Cards, Wire Transfer
AlfaTrade0yes200:1-MetaTrader4, WebtraderAFM, BaFin, CONSOB, FCA, FI, NBS500Wire Transfer, Credit Cards, Skrill, Neteller
Squared Financial0yes300:1-MetaTrader 4, mobileCentral Bank of Ireland500wire Transfer, CashU, Credit Card, PayPal
Alvexo0yes400:1-MetaTrader 4, WebTrader, MobileCySEC5000Cash-U, Credit Card, Webmoney, Wire Transfer
NSFX0yes200:1Metatrader 4, Webtrader, NSFX Jforex platformMFSA300credit cards, Skrill, CashU and wire transfer
Juno Markets0yes1:400-MetaTrader 4FinaCom500neteller, skrill, credit cards, wire transfer
KGIeworld0yes1:50-MetaTrader 4MAS1000Wire Transfer, Check
Abshire-Smith0yes1:200Vertex fx, Metatrader 4, straticatorFCA500CashU, Neteller, Skrill, Wire Transfer
Alfa Financial0yes1:100MetaTrader 4, AX1TraderCentral Bank UAE10000yes
BlitzBrokers (IB for AxiTrader)0yes1:500MetaTrader 4FCA UK1Credit cards, Neteller, Skrill
Citypoint Trading0yes1:100MetaTrader 4, VertexFCA20credit cards, wire transfer
Darwinex0yes1:200MetaTrader 4, cTraderFCA500Bank Wire, Credit Cards, UnionPay
Eightcup0yes1:500Metatrader 4ASIC100
Elxi Markets0yes1:200MetaTrader 4FCA UK100Wire Transfer, Skrill
ETX Capital0yes1:200 ETX Trader Pro, Metatrader 4, ETX binaryFCA100credit cards, wire transfer, firopay, neteller, skrill, sofort, china unionpay
Swissmarkets0yes1:500Metatrader 4, WebtraderCySEC, MiFID200credit cards, wire transfer, neteller, skrill, iDEAL, giropay
Trade3600yes1:1,00035%, $60 no deposit for real accountTrade360CySEC100credit cards, skrill, neteller, wire transfer
AETOS0yes1:200MetaTrader 4FCA UK250Bank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY
LH-Crypto0yes1:500Metatrader 4, Metatrader 5yes10Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, DASH, Ripple, NEO, Visa, MasterCard, Web Money, QIWI, wire transfer

How To Choose a Forex Brokerage if you are Kenyan trader

You have to decide on your currency pairs and trading style. Practice with demo account before you invest any real money into the game. Keep in mind that Metatrader 4 platform is one of the popular and safest out there and is available for either download and web-based including mobile versions.

Whether a complete newbie or experienced trader, check out terms and conditions of each broker you have selected to trade with. Little hidden fees, high spreads, limitations on trading styles can be a huge disadvantage for your investing career.

What you need to look out for the most:

  • Spreads – The difference between SELL and BUY price in points (pips) anything over 3 Pips for the most liquid EUR/USD is usually too much and you should avoid. Spreads can be variable or fixed, it usually depends on the account type.
  • Swaps – the fee you pay in order to keep the contract open over night. There are Islamic accounts with some brokers with swap-free options.
  • Commissions per lot traded – usually charged with ECN and STP accounts where spreads are fixed.
  • Respected regulation authority such as DFSA, FCA UK, Cysec
  • Segregated accounts for your trading funds (meaning that your money is kept separately from the company's finances)
  • Satisfactory reviews from real forex traders from Kenya and around the globe
  • Various payment methods with fast deposit and withdrawal options
  • Low spreads and outstanding trading features
  • Reputable trading platform such as Metatrader 4
  • High quality customer support via chat email and phone 

How do we rank and review?

Our team consists of traders with more than 15 years experience in forex. We have collected, reviewed, ranked and test driven more than 300 online international forex brokers and have created a full 2019 Forex Broker Review guide for our visitors. 

Account Types Reviews

Online broker might offer various account types with different trading terms and features, starting from cent trading, for example, micro lots, spreads, maximum leverage and support. Newbies should definitely start with micro or mini accounts if possible to practice their way up to larger investing opportunities.

Forex Brokers in Kenya

We have completed a list of reliable forex brokers Kenyan traders can choose to trade with and make advantage of forex market. At the moment the presented brokers are offshore, however most international brokers accept traders from Kenya without problems and you can easily deposit and withdraw money to and from your account. Registration and account opening is done within minutes and you can fund the account with various payment methods such as credit cards, Skrill, Neteller, Webmoney, CashU and others. There is also an option of bank transfers, but keep in mind that this option is timely.

After testing and reviewing more than 300 forex brokers across the globe, we have chosen the ones that are reputable and have best terms and trading conditions for Kenyans. We hope that you find this section of our website useful and resourceful. Please consider leaving your own review for the broker you trade with and share your experience with other traders.