Choosing the best Forex Brokers in Kenya can feel overwhelming, especially when every broker claims to offer the tightest spreads, lowest costs, or fastest withdrawals. Kenyan traders—beginners and experienced alike—want platforms that support M-Pesa, offer reliable execution, provide strong regulation, and allow flexible leverage. The challenge is knowing which brokers are genuinely trustworthy and which ones operate with offshore leverage but without CMA protection.
This guide ranks and explains the Top 20 Forex Brokers in Kenya, starting from the highest leverage to the lowest, helping you understand what each broker offers, what to expect, and which type of trader each one suits best. Whether you prefer ultra-high-leverage international brokers or strictly regulated CMA-licensed brokers, this list gives you a clear, fact-based perspective to guide your trading decisions.
Table of Contents
Quick Summary
Here is a quick breakdown of all 20 Forex Brokers in Kenya arranged from the highest leverage to the lowest:
- JustMarkets – Up to 1:3000, offshore, low deposits
- Axi – Up to 1:1000, no minimum deposit
- XM – Up to 1:1000, strong global reputation
- Exness Global (offshore entity) – Up to 1:2000
- BlackBull Markets – Up to 1:500
- Fusion Markets – Up to 1:500
- Global Prime – Up to 1:500
- Eightcap – Up to 1:500
- Ingot – Up to 1:500 (CMA entity capped at 1:400)
- FP Markets – Up to 1:500 (CMA entity capped at 1:500)
- IC Markets Offshore – Up to 1:500
- FXPesa (CMA licensed) – 1:400
- Exness Kenya Limited (CMA licensed) – 1:400
- Scope Markets (CMA licensed) – 1:400
- FXTM (Exinity Capital) – 1:400
- HFM (CMA licensed) – 1:400
- Windsor Markets Kenya – 1:400
- Admirals Kenya – 1:400
- ANZO Capital – 1:400
- TPXM Global Kenya – 1:400
Also Read: How to Learn Forex in Kenya under an hour
Understanding Leverage Levels in Kenya
Before exploring these Forex Brokers in Kenya, it’s important to understand why leverage differs so widely:
International brokers offshore can legally offer very high leverage, even up to 1:3000.
CMA-licensed brokers in Kenya are legally capped at 1:400 for retail clients.
Higher leverage increases earning potential but also increases risk. If you prefer maximum protection, CMA-licensed brokers are safer. If you prefer aggressive trading strategies, offshore brokers dominate the top of this ranking.
With that foundation, let’s break down all top 20 brokers one by one.
1. JustMarkets – Up to 1:3000
JustMarkets takes the top position due to its extremely high leverage offering of up to 1:3000. This makes it one of the most aggressive platforms globally for Forex Brokers in Kenya, especially for traders with smaller capital who want to amplify market exposure.
Minimum deposit is low, M-Pesa is supported via third-party processors, and both MT4 and MT5 are available. Because it is offshore-regulated, it does not offer CMA investor protection, but it remains popular among Kenyan high-risk traders who want ultra-flexible leverage.
Best for: High-risk traders, scalpers, small accounts.
2. Axi – Up to 1:1000
Axi is another well-known platform among Forex Brokers in Kenya due to its no-minimum-deposit policy and strong international track record. Its offshore entity provides up to 1:1000 leverage, making it appealing for flexible trading styles.
Kenyan traders appreciate Axi’s tight spreads, MT4/MT5 compatibility, and reliability during volatile market conditions.
Best for: Traders seeking $0 minimum deposit and stable execution.
3. XM – Up to 1:1000
XM stands out among Forex Brokers in Kenya because of its blend of high leverage (1:1000), strong global regulations (CySEC/ASIC), and beginner-friendly educational resources. New traders benefit from their micro accounts and structured training materials.
Minimum deposit is only $5, and order execution quality is widely respected worldwide.
Best for: Beginners and intermediate traders wanting a global broker.
4. Exness Global (International Entity) – Up to 1:2000
Exness appears twice in this guide because its offshore entity offers extremely high leverage up to 1:2000, while its CMA entity is limited to 1:400. This high-leverage version is widely used by professional traders in Kenya who want flexible risk profiles.
Exness is popular because of instant withdrawals, tight raw spreads, and reliable execution on gold, US30, and other major assets.
Best for: Gold and indices traders, high-frequency scalpers.
5. BlackBull Markets – Up to 1:500
BlackBull Markets offers 1:500 leverage and is known for no minimum deposit requirements and access to a wide range of currency pairs. It is recognized for fast trade execution and deep liquidity.
Best for: Traders who want a trusted global ECN environment.
6. Fusion Markets – Up to 1:500
Fusion Markets ranks as one of the cheapest Forex Brokers in Kenya in terms of trading fees. It offers high leverage and extremely low commissions, making it ideal for cost-conscious traders.
Best for: Low-cost trading and algorithmic strategies.
7. Global Prime – Up to 1:500
Global Prime is known for transparency and clean order execution. Though not as heavily marketed as other platforms, it has a solid following among serious traders.
Best for: Traders who value transparency with ECN pricing.
8. Eightcap – Up to 1:500
Eightcap appeals to Forex Brokers in Kenya thanks to its crypto-friendly CFD offerings and AI-powered plugins. It’s popular among traders with diversified portfolio interests beyond forex alone.
Best for: Crypto CFD traders and MT5 users.
9. Ingot – Up to 1:500
Ingot offers high leverage globally but operates under capped limits for its CMA-licensed entity in Kenya. Kenyan traders enjoy its multi-asset offering, crypto funding, and dependable MT platforms.
Best for: Traders wanting hybrid CMA and offshore options.
10. FP Markets – Up to 1:500
FP Markets is respected globally for its true ECN spreads. The CMA entity offers strong regulatory assurance in Kenya, while its offshore entity provides access to higher leverage.
Best for: Multi-asset traders wanting ECN pricing.
11. IC Markets – Up to 1:500
IC Markets is one of the most recognized ECN brokers worldwide. Though its Kenyan entity is capped at 1:400, offshore accounts offer 1:500. It is known for ultra-tight spreads and consistent execution.
Best for: Scalpers and automated trading strategies.
12. FXPesa (EGM Securities) – 1:400
FXPesa is one of the most dominant CMA-licensed Forex Brokers in Kenya. It offers M-Pesa deposits, low minimum deposits, and dependable regulation under the CMA.
This platform offers accessible accounts, a welcome bonus, and clean mobile trading.
Best for: Traders wanting a safe, CMA-regulated local broker.
13. Exness Kenya Limited – 1:400
The CMA-licensed version of Exness blends strong regulation with competitive spreads, fast withdrawals, and reliable customer support in Kenya. The regulated leverage is capped at 1:400, making it safer than offshore alternatives.
Best for: Traders who want Exness reliability under Kenyan protection.
14. Scope Markets – 1:400
Scope Markets is another popular CMA-regulated platform. It offers ECN pricing, deposit bonuses, and an easy M-Pesa funding process. It focuses on transparency and customer support.
Best for: Intermediate and professional traders seeking ECN pricing.
15. FXTM (Exinity) – 1:400
FXTM is known globally for its micro accounts, education, and flexible account types. Its Kenyan CMA entity provides maximum retail protection at a 1:400 leverage limit.
Best for: Beginners and account flexibility seekers.
16. HFM Kenya – 1:400
HFM (HotForex) is widely recognized for copy trading, tight spreads, and reliable support. Kenyan clients benefit from M-Pesa deposits and multiple platforms including MT4/5.
Best for: Copy trading and portfolio diversification.
17. Windsor Markets Kenya – 1:400
Windsor is one of the older Forex Brokers in Kenya and offers strong client protection and insured accounts through Lloyd’s of London. Its reputation spans several decades.
Best for: Traders seeking a long-standing global brand in Kenya.
18. Admirals Kenya – 1:400
Admirals offers a wide variety of instrument classes, strong education, and fractional share trading. It is ideal for traders wanting exposure to global markets with CMA assurance.
Best for: Stock CFD traders and beginners.
19. ANZO Capital – 1:400
ANZO offers STP/ECN accounts and decent spreads across MT4 and MT5. While not as widely known as others, it provides steady service and clean pricing.
Best for: Traders who prefer STP trading environments.
20. TPXM Global Kenya – 1:400
TPXM is one of the newest CMA-licensed Forex Brokers in Kenya. It offers MT4 trading and local customer support, making it a rising option for traders wanting regulated environments.
Best for: Beginners seeking regulated trading and local presence.
Deposits, Platforms, and M-Pesa Comparison
Here is a snapshot comparison of the Top 20 Forex Brokers in Kenya:
| Broker | Max Leverage | Min Deposit | M-Pesa Support | Regulation |
|---|---|---|---|---|
| JustMarkets | 1:3000 | $10 | Yes (indirect) | Offshore |
| Axi | 1:1000 | $0 | No | Offshore |
| XM | 1:1000 | $5 | No | Offshore |
| Exness Global | 1:2000 | $10 | Yes | Offshore |
| BlackBull Markets | 1:500 | $0 | No | Offshore |
| Fusion Markets | 1:500 | $0 | No | Offshore |
| Global Prime | 1:500 | $0 | No | Offshore |
| Eightcap | 1:500 | $100 | No | Offshore |
| Ingot | 1:500 | $100 | Limited | CMA & Offshore |
| FP Markets | 1:500 | $100 | Limited | CMA & Offshore |
| IC Markets | 1:500 | $200 | No | Offshore |
| FXPesa | 1:400 | $5 | Yes | CMA |
| Exness Kenya | 1:400 | $10 | Yes | CMA |
| Scope Markets | 1:400 | $10 | Yes | CMA |
| FXTM | 1:400 | $10 | Yes | CMA |
| HFM | 1:400 | $5 | Yes | CMA |
| Windsor | 1:400 | $50 | Yes | CMA |
| Admirals | 1:400 | $25 | Yes | CMA |
| ANZO | 1:400 | $100 | Yes | CMA |
| TPXM | 1:400 | $50 | Yes | CMA |
FAQs on Forex Brokers in Kenya
Exness office in Kenya
Yes, Exness Kenya Limited operates a physical office in Nairobi as part of its CMA-licensed operations.
Which is the best trading broker in Kenya?
For safety and regulation: FXPesa, Exness Kenya, Scope Markets, or HFM.
For high leverage offshore: JustMarkets or XM.
Which forex broker uses Mpesa?
FXPesa, Exness Kenya, Scope Markets, HFM, Admirals, Windsor, and FXTM all support M-Pesa.
Is FXPesa a good broker?
Yes. It is CMA-licensed, reputable, beginner-friendly, and supports M-Pesa.
Does Pepperstone accept M-Pesa?
Pepperstone Kenya exists but currently does not support direct M-Pesa deposits.
Can I deposit 1 dollar in Deriv?
Yes, Deriv allows deposits as low as $1 through supported payment channels.
Is Exness legal in Kenya?
Yes, the CMA-regulated entity (Exness KE Limited) is fully licensed and legal in Kenya.
Final thoughts on Top 20 Forex Brokers in Kenya
Choosing the best Forex Brokers in Kenya depends on your trading style, capital, and risk appetite. If you want high leverage and flexibility, international offshore brokers like JustMarkets or XM top the list. If you want safety, regulation, and M-Pesa convenience, platforms such as FXPesa, Exness Kenya, HFM, or Scope Markets are the best choices.
As the forex market grows in Kenya, traders must balance opportunity with risk, choosing brokers that match their experience level and financial goals. Whether you prefer tightly regulated CMA platforms or aggressive offshore leverage options, Kenya’s trading landscape offers reliable choices for everyone.
For genuine & simplified forex trading classes, contact Creative Kigen Consulting for private mentoring sessions.
