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Best Forex Brokers in Kenya 2026
Brokers ranked for Kenyans: CMA licence first, then M-Pesa, KES accounts and our calculated score.
| # | Broker | Local licence | Local currency | Local payments | Min deposit | Radar score | |
|---|---|---|---|---|---|---|---|
| 1 |  HFM |
✓ Licence 155 | KES | M-Pesa (KE, from KES 700), Kenyan bank transfer (from KES 11,000) | $0 Cent/Premium/Zero (≈$5 by payment method) | 9.1/10 | Review |
| 2 |  Exness |
✓ Licence 162 | KES | M-Pesa (KE), Local bank transfer (KE, NG, ZA) | $10 Standard | 8.9/10 | Review |
| 3 | Pepperstone | ✓ Licence 128 | No | M-Pesa (KE) | $0 | 7.6/10 | Review |
| 4 | FXTM | ✓ Licence 135 | No | None | $10 Micro | 7.2/10 | Review |
| 5 |  XM |
No | No | None | $5 | 7.0/10 | Review |
| 6 | AvaTrade | No | No | None | $100 | 7.0/10 | Review |
| 7 | IC Markets | No | No | None | $0 Standard/Raw | 6.4/10 | Review |
| 8 | FBS | No | No | None | $5 (Standard needs $15) | 5.8/10 | Review |
| 9 | Deriv | No | No | Mobile money via pawaPay (8 markets), Payment agents | From $5 (method-dependent) | 5.4/10 | Review |
| 10 | No | No | None | $50 | 5.4/10 | Review |
Ranking: brokers with a licence in Kenya first, then by FX Radar score. How we score.
Kenya forex FAQ
Is forex trading legal in Kenya?
Yes. The Capital Markets Authority (CMA) licenses non-dealing online forex brokers. Using a CMA-licensed broker gives you local protection, including negative-balance protection and a 1:400 leverage cap.
Which brokers accept M-Pesa?
Several CMA-licensed brokers accept M-Pesa, often from around KES 700. Look for M-Pesa in the 'Local payments' column above.
How do I check a CMA licence?
Use the CMA's list of licensed online forex brokers on cma.or.ke. In September 2026 the CMA flagged 15 unlicensed platforms, so always check before depositing.
Is Deriv regulated in Kenya?
No. Deriv is popular in Kenya but is not licensed by the CMA; Kenyans trade with its offshore entities.
Not sure which one fits you?
Compare every broker side by side, or check the latest scam warnings first.