The Capital Markets Authority maintains the official register of licensed online foreign-exchange brokers in Kenya. The safest way to use any broker list is to treat it as a dated snapshot and then confirm the current entry on the CMA register before opening or funding an account.
This page was reviewed on 26 August 2026 against the CMA's live licensee register.
Non-dealing online foreign-exchange brokers on the CMA register
At the review date, the CMA register listed the following entities in the Non-Dealing Online Foreign Exchange Broker category:
- EGM Securities Limited, trading as FX Pesa — licence 107
- SCFM Limited, trading as Scope Markets — licence 123
- Pepperstone Markets Kenya Limited — licence 128
- Exinity Capital East Africa Limited — licence 135
- HFM Investments Limited, trading as HF Markets — licence 155
- Windsor Markets Kenya Limited — licence 156
- Exness KE Limited — licence 162
- Ingot KE Limited — licence 173
- Admirals KE Limited — licence 178
- FP Markets Limited — licence 193
- IC Markets (KE) Limited — licence 199
- ANZO CAPITAL LIMITED — licence 219
- TPXMGLOBAL Kenya Limited — licence 233
- Ava Trade Kenya Limited — licence 262
Dealing online foreign-exchange brokers on the CMA register
At the same review date, the CMA register listed these entities in the Dealing Online Foreign Exchange Broker category:
- Empire FX Trade Limited — licence 203
- CC Kenya Securities Limited, trading as Capital.com — licence 244
What the two broker categories mean
Under Kenya's online-forex regulations, a dealing online foreign-exchange broker is licensed to engage in online forex trading as principal and market maker. A non-dealing online foreign-exchange broker acts as a link between the foreign-exchange market and the client for a commission or spread mark-up and does not engage in market making.
These definitions describe regulated business models. They are not quality rankings and do not tell a trader which provider will have the best spread, execution or platform for a particular strategy.
Money managers are a separate category
The CMA register also has an Online Foreign Exchange Money Manager category. That is different from a broker licence. A money manager is licensed for managing an online foreign-exchange portfolio for a client under the applicable framework.
Do not treat a broker licence as evidence that an unrelated person or education business is authorised to manage accounts.
Why the legal name matters more than the brand
A familiar international trading brand can operate through multiple legal companies. The entity on the CMA register should match the company named in the account agreement and client onboarding documents.
If the website, payment instructions or contract identify a different company, stop and resolve the mismatch before sending money.
How to verify the current list
Go directly to the CMA's official licensee register. Open the relevant online-forex category and compare the legal name and licence number. Do not rely only on a screenshot, copied licence number or an old comparison article.
The detailed workflow is on How to Verify a Forex Broker in Kenya.
A CMA licence is not an endorsement of a trading strategy
Regulation addresses the provider's authorised activity. It does not guarantee that a trader will make money, that a strategy has positive expectancy or that leverage is appropriate.
After the entity check, continue with Forex Brokers in Kenya for service comparison and Risk Management for position and account risk.