Brokers
Top Brokers
Three featured brokers, then everyone else ranked by FX Radar score. Scores are calculated from licences, costs, African funding, platforms and support.
Featured ≠ highest scored. Featured brokers are our editorial picks for this month and may be commercial partners. Their scores are calculated exactly like everyone else's.
FEATURED · #1 BY SCORE
HFMKES accounts, M-Pesa, Nairobi office, $0 minimum
9.1/10
HFM
KES accounts, M-Pesa, Nairobi office, $0 minimum
9.1/10 Radar score
- Licensed by the CMA in Kenya (licence 155) and the FSCA in South Africa (FSP 46632).
- No minimum on Cent, Premium and Zero; M-Pesa deposits from about KES 700.
- New this week: 24/7 gold trading, weekends included, with spreads from 0.06.
- Min deposit
- $0 Cent/Premium/Zero (≈$5 by payment method)
- Max leverage
- Up to 1:2000 (1:400 under CMA)
- Platforms
- MT4, MT5, HFM App, WebTrader
- African licence
- South Africa (FSCA), Kenya (CMA)
Products: Cent, Premium, Zero and Pro accounts on MT4/MT5 and the HFM App. HFcopy copy trading, Autochartist for deposits from $100, swap-free accounts, and 24/7 gold since October 2026.
FEATURED · #2 BY SCORE
ExnessInstant withdrawals, CMA & FSCA licensed
8.9/10
Exness
Instant withdrawals, CMA & FSCA licensed
8.9/10 Radar score
- Licensed in Kenya by the CMA (licence 162) and in South Africa by the FSCA (FSP 51024).
- Most withdrawals are processed automatically, including M-Pesa in Kenya.
- Start from $10 on Standard; Raw and Zero accounts suit scalpers from $200.
- Min deposit
- $10 Standard · $200 Pro/Raw/Zero
- Max leverage
- Up to 1:2000 (1:400 under CMA)
- Platforms
- MT4, MT5, Exness Terminal, Exness Trade app
- African licence
- South Africa (FSCA), Kenya (CMA)
Products: Five account types across MT4, MT5 and its own Exness Terminal and app. Social trading, swap-free options and a free VPS for larger balances.
FEATURED · #5 BY SCORE
XMLow entry, local FSCA entity, ZAR funding
7.0/10
XM
Low entry, local FSCA entity, ZAR funding
7.0/10 Radar score
- South African clients are introduced through XM ZA (Pty) Ltd, FSP 49976.
- Open an account from $5 on Micro, Standard or Ultra Low.
- ZAR accounts with instant EFT through Ozow, so no conversion on deposits.
- Min deposit
- $5
- Max leverage
- Up to 1:1000
- Platforms
- MT4, MT5, XM App
- African licence
- South Africa (FSCA, intermediary)
Products: Micro, Standard and Ultra Low accounts on MT4/MT5 and the XM App. Shares account for real stock trading from $10,000. Free webinars and education for clients.
#3Pepperstone
Pepperstone
Raw pricing, cTrader & TradingView, M-Pesa
Min deposit$0
African licenceKenya (CMA)
7.6/10 Radar score
Review
#4FXTM
FXTM
CMA & FSCA licensed, NGN accounts
Min deposit$10 Micro · $500 Advantage
African licenceKenya (CMA), South Africa (FSCA)
7.2/10 Radar score
Review
#6AvaTrade
AvaTrade
FSCA licensed, Johannesburg office, ZAR accounts
Min deposit$100
African licenceSouth Africa (FSCA)
7.0/10 Radar score
Review
#7IC Markets
IC Markets
Raw spreads for algo traders
Min deposit$0 Standard/Raw · $100 Raw Pro
African licenceNone — offshore (FSA Seychelles)
6.4/10 Radar score
Review
#8FBS
FBS
Very low entry, 24/7 support
Min deposit$5 (Standard needs $15)
African licenceNone — offshore (FSC Belize)
5.8/10 Radar score
Review
#9Deriv
Deriv
Synthetic indices 24/7, mobile money via pawaPay
Min depositFrom $5 (method-dependent)
African licenceNone — offshore entities
5.4/10 Radar score
Review
#10FXCM
FXCM
Since 1999, FSCA licensed, low leverage
Min deposit$50
African licenceSouth Africa (FSCA, intermediary)
5.4/10 Radar score
Review Rank numbers are positions by FX Radar score across all brokers we track. Some links are affiliate links; this never changes a score.
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