Forex regulation in Kenya
This page explains the authorities and public records connected with retail forex and CFD activity in Kenya. Rules can depend on the product, legal entity, client type and location.
Regulatory overview
The CMA has licensed online forex brokers since 2017; only a few hold the licence.
Authorities
Broker records
| Broker | Authority | Licence | Status | |
|---|---|---|---|---|
 IC Markets 9.6/10 | CMA (Kenya) | Licence 123 | Review pending | View licence record |
 AvaTrade 9.2/10 | CMA (Kenya) | 262 | Review pending | View licence record |
 Admirals 9.0/10 | CMA (Kenya) | 178 | Review pending | View licence record |
 HF Markets 8.7/10 | CMA (Kenya) | 155 | Review pending | View licence record |
 FP Markets 8.5/10 | CMA (Kenya) | Not confirmed | Review pending | View licence record |
 FXTM 8.4/10 | CMA (Kenya) | 135 | Review pending | View licence record |
 Exness 8.3/10 | CMA (Kenya) | Not confirmed | Review pending | View licence record |
 Pepperstone 8.0/10 | CMA (Kenya) | Not confirmed | Review pending | View licence record |
 Equiti 7.6/10 | CMA (Kenya) | Not confirmed | Review pending | View licence record |
 Scope Markets 7.6/10 | CMA (Kenya) | Forex 123, Derivatives 143 | Review pending | View licence record |
Client protections
Under CMA (Kenya)
- Client-money rules
- Not confirmed
- Capital requirements
- Not confirmed
- Negative balance protection
- Not confirmed
- Leverage restrictions
- Applies to eligible retail clients
- Compensation scheme
- Not confirmed
- External dispute resolution
- Not confirmed
- Risk disclosures
- Not confirmed
- Reporting or audit
- Not confirmed
Complaint routes
We have not confirmed a public complaint-submission route for an authority in Kenya. Check the official website and the broker's governing documents.
Official warnings
Frequently asked questions
Is forex trading regulated in Kenya?
CMA (Kenya) is the authority on record for Kenya. The CMA has licensed online forex brokers since 2017; only a few hold the licence.
Does a foreign licence protect a trader in Kenya?
Only when the account is legally contracted with the licensed entity and the licence permits the relevant service. A broker brand may operate several entities, and the protections follow the entity that signs the account agreement, not the brand.