ForexLicenses
3Moderate

CMA (Kenya) regulated forex brokers

Capital Markets Authority of Kenya · 🇰🇪 Kenya

The Capital Markets Authority of Kenya (CMA (Kenya)) is the financial regulator for Kenya, established in 1989. ForexLicenses.com classifies it as tier 3 (moderate regulation). We currently match 18 brokers in our database to an CMA (Kenya) licence.

Kenya introduced Online Forex Trading regulations in 2017 and licenses Non-Dealing Online Foreign Exchange Brokers and Money Managers. Brokers such as EGM Securities (FXPesa), Pepperstone, HFM and Exness have Kenyan licences, making the CMA one of the more important regulators for East African traders.

Key rules for retail clients

Tier
Tier 3 — Moderate regulation
Compensation
No dedicated compensation scheme for online forex clients confirmed
Leverage
Maximum 400:1
Negative balance protection
Not confirmed — check with the broker
Client money
Client funds held in segregated accounts
Complaints
CMA complaints

Brokers licensed by the CMA (Kenya) 18

Broker Licences on record Licence Score Actions
1 A AvaTrade Forex & CFD broker, since 2006 ASICCBIJFSAFSCAFSRA (ADGM)ISA+3 83Very strong Licences Visit site
2 A Admirals Forex & CFD broker, since 2001 ASICFCACySECEFSAFSCACMA (Kenya)+2 78Strong Licences Visit site
3 P Pepperstone Forex & CFD broker, since 2010 ASICBaFinFCACySECDFSACMA (Kenya)+1 78Strong Licences Visit site
4 H HFM Forex & CFD broker, since 2010 FCACySECDFSAFSCACMA (Kenya)FSC (MU)+1 70Strong Licences Visit site
5 X XM Forex & CFD broker, since 2009 ASICCySECDFSAFSCACMA (Kenya)FSA (Seychelles)+1 70Strong Licences Visit site
6 FM FP Markets Forex & CFD broker, since 2005 ASICCySECFSCACMA (Kenya)FSC (MU)FSA (Seychelles) 69Strong Licences Visit site
7 E Exness Forex & CFD broker, since 2008 FCACySECFSCACMA (Kenya)FSC (MU)JSC+3 68Strong Licences Visit site
8 CC Capital.com Forex & CFD broker, since 2016 ASICFCACySECCMA (Kenya)SCBFSA (Seychelles) 67Strong Licences Visit site
9 E Equiti Forex & CFD broker, since 2008 FCASCACMA (Kenya)JSCFSA (Seychelles) 65Strong Licences Visit site
10 F FXTM Forex & CFD broker, since 2011 FCACySECFSCACMA (Kenya)FSC (MU) 65Strong Licences Visit site
11 IM IC Markets Forex & CFD broker, since 2007 ASICCySECCMA (Kenya)SCBFSA (Seychelles) 65Strong Licences Visit site
12 IB INGOT Brokers Forex & CFD broker, since 2006 ASICCMA (Kenya)FSA (Seychelles) 62Strong Licences Visit site
13 WB Windsor Brokers Forex & CFD broker, since 1988 CySECCMA (Kenya)JSCFSC (Belize) 51Moderate Licences Visit site
14 SM Scope Markets Forex & CFD broker, since 2014 FSCACMA (Kenya)FSC (Belize) 46Moderate Licences Visit site
15 AC Anzo Capital Forex & CFD broker, since 2015 CMA (Kenya)FSC (Belize) 30Weak Licences Visit site
16 F FXPesa Forex & CFD broker, since 2016 CMA (Kenya) 29Weak Licences Visit site
17 TG Trademax Global Markets Forex & CFD broker, since 2016 CMA (Kenya) 29Weak Licences
18 EF Empire FX Trade Forex & CFD broker, since 2019 CMA (Kenya) 27Weak Licences

Frequently asked questions

How do I check if a broker is CMA (Kenya) regulated?

Search the firm's name or licence number on the CMA (Kenya) official register (https://www.cma.or.ke/licensees-market-players/), confirm the status is current and that the website domain you're using is listed, then check the CMA (Kenya) warning list for clones.

Does the CMA (Kenya) offer investor compensation?

No dedicated compensation scheme for online forex clients confirmed

What leverage do CMA (Kenya)-regulated brokers offer?

Maximum 400:1

Is negative balance protection required by the CMA (Kenya)?

We have not confirmed a blanket requirement under the CMA (Kenya). Check the broker's client agreement for its negative balance policy.

Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. Consider whether you understand how they work and whether you can afford to take the high risk of losing your money. Read more.