Best CFD Brokers in Kenya 2024

Finding the best CFD trading platforms as a Kenyan can be difficult because there are many different brokers to choose from and each offers different features. In this comprehensive guide, we will discuss all of the different options that are available to you and help you decide which broker is right for you. We will also provide information on how to get started with CFD trading and what to look for when choosing a broker. So, whether you are a beginner or an experienced trader, read on for the information you need to make the best decision possible.

How to Choose CFD Brokers in Kenya?

One of the first things to consider when looking for the best CFD broker in Kenya is what your trading goals are. Are you looking to trade for income or to speculate on the price movements of assets? There are brokers that cater to both types of traders, so it is important to know what you want before making a decision. Once you have an idea of your trading goals, you can start narrowing down your options.

Regulation: Most important thing to consider is broker regulations. In Kenya, you need to find a CFD broker that is regulated by reputable regulatory authorities and accept Kenyan traders.

Cost: Another important factor to consider is the fees charged by the broker. Some brokers charge commission on each trade, while others only charge a flat fee. Make sure to compare the fees charged by different brokers before making a decision. You should also take into account other factors such as customer service and platform features when choosing a broker.

Trading Platforms: You also need to consider trading platforms when choosing a broker. Some brokers offer their own proprietary platforms, while others use third-party platforms such as MetaTrader. Make sure to compare the features and functionality of different trading platforms before making a decision.

Products: Products offered by brokers are also needed to consider. Some brokers offer a wide range of products, while others only offer a limited selection. Make sure to check what products are offered by the broker you are considering before making a decision.

Customer Support: Lastly, consider broker's customer support. You will want to choose a broker that offers excellent customer support in case you have any questions or problems. Make sure to check the customer support options offered by the broker you are considering before making a decision.

Now that you know what to look for when choosing a CFD broker in Kenya, it's time to start shopping around. Make sure to compare different brokers before making a decision. And, if you have any questions, be sure to contact customer support for help. 

Best CFD Brokers in Kenya

Best CFD Brokers in Kenya

Selecting a reliable CFD broker is not easy. It takes a lot of research. Don't worry – we can help you find the best CFD brokers that accept Kenyan traders and offer the highest leverage. We've done the research for you so that you can focus on making money from your trades. Here are the top CFD Brokers in Kenya.



Pepperstone is a global online broker that offers CFD trading on a variety of assets, including forex, indices, commodities, and shares. The company is regulated and offers its clients a safe and secure platform to trade on.

Pepperstone logo

image credit: Pepperstone

Pepperstone Regulations

Pepperstone is a multi-licensed forex broker. The broker is controlled with the help of the following authorities:

United Kingdom: Pepperstone is licensed and is regulated through the Financial Conduct Authority (FCA) in the UK.

Germany: Pepperstone GmbH is licensed and regulated by the German Federal Financial Supervisory Authority (BaFin).

Australia: The broker is regulated by Australian Securities and Investments Commission (ASIC) in Australia.

Dubai: Pepperstone is regulated by the Dubai Financial Services Authority (DFSA).

Global Pepperstone Markets Limited is located at Sea Sky Lane, B201, Sandyport, Nassau, New Providence, The Bahamas and is licensed and controlled by The Securities Commission of The Bahamas,( SIA-F217).

Pepperstone is also controlled in the form of CMA, and CySEC.

Pepperstone Trading Platforms

Pepperstone provides MetaTrader 5 and 4, as well as cTrader to facilitate Forex transactions across Thailand. MT4 and MT5 provide industry-standard features that all brokers offer.

cTrader of Pepperstone offers the environment that is ideal for institutional trading. CTrader is the best platform for those beginning their journey into trading. It also lets you fill orders using advanced cTrader functions.

Pepperstone also offers Social trading facilities via myfxbook as well as DulpiTrade.

Pepperstone Products

Pepperstone provides 60+ currencies with low spreads  and more than 24 CFD cryptocurrencies, Stock CFDs of AU, US, UK and German shares, ETF CFDs, Index CFDs, as well as Commodities.

Pepperstone offers two kinds of accounts for Thailand traders. 1. Razor Account 2. Standard Account. The broker provides leverage of 1:500 to Forex trading.

Read More: Best Forex Brokers in Kenya 2024

Pepperstone Cost

The initial minimum deposit for Pepperstone is $200. The minimum amount for withdrawal is $20. The deposit or withdrawal charge, except for the transfer to a bank account.

Standard Account does not have a commission but spreads are very high. On the other hand, Razor spreads for accounts start at zero pip. Commission is $7 for a standard lot.

Pepperstone Customer Support

Pepperstone can be reached any time, via a variety of ways, including e-mail, phone, and Live chat directly. Live chat is the first option to use. You'll be greeted by an automated chatbot. If the bot isn't in a position to answer your queries then you'll be offered the option to speak to an agent in live chat.

Pepperstone Pros & Cons


√ Access to more than 60 foreign exchange pairs.

√ Leverage is available to both forex and cryptocurrency traders

√ An array of instructional tools and courses that professionals and novices will take advantage of.

√ 24/7 customer service


- The broker isn't currently accessible to U.S. traders.

- It is not possible to purchase stocks, bonds and mutual funds on the spot, only CFDs are available.

Want to trade with Pepperstone? You can do so by clicking the following link:


Next broker in our list is XM. In 2009, XM Global Limited started its online trading service under the trademark XM. Currently they have over 5,000,000 clients and 600 Professionals working around the world. XM is doing business in 190+ countries.

XM broker

image credit: XM

XM Regulations

XM is a multi licensed and regulated broker. 

In Cyprus, the company is licensed and regulated by CySEC.

In Australia, XM is regulated by the Australian Financial Services License by ASIC. 

And in Belize XM is licensed by IFSC.

XM Products

XM offers Forex, Cryptocurrencies, CFDs on Stocks, Equity Indices, Commodities, Precious Metals, Energies and Shares. 

They have different types of live Accounts. Micro Account, Standard Account, XM Ultra Low Account, Shares Account, Islamic Account and Demo Account.

They offer leverage from 1:1 to 1:888.

XM offers 57+ FX pairs, this includes major, minor, and exotic currency pairs. 

They have 31 Crypto to Fiat Currency pairs.

They offer 8 commodities that include Cocoa, Soyabean, Coffee, Corn, Cotton, Copper, Sugar, and Wheat.

For trading Stocks, you get access to over 1246 major companies from the US and other global stock markets. The trading of shares is executed via CFDs. 

You can also trade Indices. They have 14+ Indices including US500, US100, UK100, US30 and more.

You can also trade gold, silver, Crude oil, Natural Gas and WTI oil on XM. 

They also have an account for shares trading. With this account,  you can buy shares from US, UK and German stock markets. 

XM Trading Platforms

Let's check their Trading platforms. Clients of XM are able to begin trading using MT4 and MT5 platforms accessible on both PCs and MAC and several mobile devices. Users can also get trading experience with the XM WebTrader, instantly accessible via your web browser.

XM Cost

XM doesn't have any deposit and withdrawal fee. It's free, but the minimum deposit with XM is $5 except for a share account. For Shares Account, minimum deposit is $10,000.

XM does not charge any commission except for Shares Trading.. They make profit through spreads and swap fees.   

Commission for US Shares 0.04% per share, with minimum $1 Commission per transaction, for UK Shares, it's 0.10% per share with minimum  $9 commission per transaction and for German Shares, it's 0.10% commission per transaction, with a minimum of $5 commission per transaction.

XM Customer Support

XM customer service is probably one of the most satisfying customer service experiences we've experienced compared to different forex brokers. XM provides live chat support 24/7 and standard phone and email assistance.

We had the opportunity to talk with a live person via live chat in less than 10 seconds, which is a feat. Additionally the broker also provides customer assistance in 26 different languages.

Read Full Review of XM

Pros and Cons of XM


- Low stock CFD and withdrawal fees.

- Easy and fast account opening

- Responsive customer support

- Low minimum deposit


- Limited product portfolio

- Average forex and stock index CFD fees

If you want to give it a try with XM, you can use the link  below:

Trade CFDs with XM


Plus500 is in third place. Plus500 is another large forex broker that is based in London. The company is listed on the London Stock Exchange and is regulated by the FCA. Plus500 offers a wide range of currency pairs, CFDs, and other financial instruments for clients to trade.


image credit: Plus500

Plus500 Regulations

Plus500 is regulated by different reputable regulatory authorities around the world.

United Kingdom: Plus500UK Ltd is authorized & regulated by the FCA (#509909).

Cyprus: Plus500CY Ltd is authorized & regulated by CySEC (#250/14).

Singapore: Plus500SG Pte Ltd, is licensed and regulated by the MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2018).

Australia: Plus500AU Pty Ltd (ACN 153301681) is licensed by ASIC, AFSL #417727. 

New Zealand: Plus500 is also regulated by FMA (FSP 486026).

South Africa: Plus500 is authorised by FSCA, FSP #47546. 

Seychelles: Plus500SEY Ltd is authorized & regulated by the Seychelles Financial Services Authority (#SD039).

Plus500 Trading Platforms

Plus500 uses a proprietary trading platform (web browser platform). It's accessible from any browser. You can also download the desktop version on your PC/laptop. They don't have MT4 or MT5. They also have Android and iOS apps.  

Plus500 Products

They offer 60+ Currency pairs, 17+ Cryptocurrencies, most popular Indices, Commodities  (Gold, Oil and Silver), Popular shares, Options, and ETFs. Spreads of Plus500 vary depending on the instruments you are trading.

Leverage varies from 1:2 for Cryptos to 1:30 for Forex.

Plus500 Cost

They don't have any trading fees. They make money by spreads and swap. But they have an inactivity fee of $10 per month if your account is inactive for 3 months. Minimum deposit is $100. Depending on withdrawal methods, they have different withdrawal limits. You will find it on the withdrawal screen of Plus500 platform.

Customer Support

Plus500 trading app offers support in 32 languages, including English, German, Greek, Italian, Spanish, French, Finnish, Danish, Swedish, Estonian, Russian, Romanian, Hebrew, Arabic, and Traditional and Simplified Chinese. 

The platform offers 24/7 support via email and chat. You will find an answer to most questions via the FAQ section. However, if the clients cannot find the query in the FAQ then they can start an online chat.

Read Full Review of Plus500

Plus500 Pros & Cons


√ Access to over 2000 CFDs

√ A user-friendly and practical platform

√ Regulated by many regulatory authorities

√ Guaranteed stop loss orders

√ Protection against negative balance


- Customer support is not available via phone call

- It does not take U.S. clients

- The trading platform can't be used with other tools for trading or platforms

If you'd like to try Plus500, You can do so by clicking the following link:


SquaredFinacial is one of the best CFD brokers in Kenya. The company has been operational for over a decade and offers a comprehensive trading platform with a wide range of assets. SquaredFinancial also provides excellent customer service and is regulated by the Cyprus Securities & Exchange Commission (CySEC).


image credit: SquaredFinacial

SquaredFinacial Regulations

The broker is licensed and regulated by two regulatory bodies: 

Cyprus: Squared Financial (Cyprus) Limited is authorised and regulated by CySEC under license No. 329/17

Seychelles: Squared Financial (Seychelles) Ltd is authorised and regulated Financial Services Authority (FSA) license No. SD024.

SquaredFinacial Trading Platforms

SquaredFinancial offers two main types of trading platforms, the MT4 Platform and MT5 Platform.  The MT 4 and 5 platforms are the most popular and used by millions of traders globally. The SquaredFinancial trading platform is user-friendly and offers a wide range of features such as advanced charting tools, a variety of indicators, and EAs. They also have MT 4 and 5 for both android and iOS.

SquaredFinacial Products

SquaredFinacial offers 10,000+ CFDs that include Crypto CFDs, Futures CFDs, Forex CFDs, Energies CFDs, Metal CFDs, Indices CFDs and Stock CFDs.

They have SquarePro, SquareElite, Islamic (Swap-free), and Demo accounts.

If you are also into Forex trading, we recommend the following 3 Forex Brokers.

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SquaredFinacial Cost

SquaredFinancial Fees, Commissions, spreads and leverage.

SquarePro account doesn't have any commission and spreads start from 1.2 pips. 

SquareElite accounts have 5$ commission per standard lot. Spreads start from 0 Pip. 

For both account base currencies are EUR, USD, GBP, CHF.


SquaredFinancial offers leverage for Forex: 1:500. 

For SquaredPro Account

Minimum First Deposit: 0 USD (or the equivalent in your account currency)

For SquaredElite Account

Minimum First Deposit: 5000.00 USD (or the equivalent in your account currency)

For Islamic Account: No Minimum Deposit

Deposit And Withdrawal Fees

SquaredFinancial normally doesn't charge for deposits and withdrawals. 

But it also depends if you will trade or not, as they charge for no trading, for the trading user, they do not charge the withdrawal fee.

SquaredFinacial Customer Support

SquaredFinancial support is very effective. You can reach out to them 24/5 a week. On their website they offer 3 languages; ENG, Arabic, and Chinese. The broker offers a wide range of contact methods for its traders, which include:

Live Chat, FAQ center, Social media pages of Facebook messenger, LinkedIn, Twitter and Instagram.

Read Full Review of SquaredFinacial

SquaredFinacial Pros & Cons


√ MT4 and MT5 trading platform with AutoTrade feature supported by MyFxBook

√ Very good execution, suitable for EA trading

√ Market analysis tools: Live market news, daily market outlook, commentary, and financial events

√ Personal account managers available

√ SquaredFinancial is fully licensed and regulated by the Cyprus Securities and Exchange Commission and Member of the Investor Compensation Fund (ICF)


- If you are from the USA, you can not trade with this broker; however, traders from other countries are able to trade with this broker.

- There is a lack of educational resources on the SquaredFinancial website. 

- They may charge inactivity fees if inactive for 12 months.

Want to trade with SquaredFinacial? You can do so by clicking the following link:


Among the top CFD Brokers in Kenya, FXTM is one of them. ForexTime (FXTM) is a forex broker established back in 2011 by Andrey Dashin. FXTM offers an intuitive trading platform based on MetaTrader 4 and 5 and offers a wider range of trading instruments including Forex, Cryptocurrencies, Index and Commodity CFDs, Spot Metals and Stock CFDs.

FXTM logo

image credit: FXTM

FXTM Regulations

FXTM is regulated by different reputable regulatory authorities around the world. They are: 

Cyprus: Forextime Ltd (EU) is regulated by CySEC (185/12).

United Kingdom: Forextime UK Limited is regulated by the FCA (777911)

South Africa: ForexTime Limited (South Africa) is regulated by FSCA (46614)

Global: Exinity Limited (Worldwide) is regulated by FSC (C113012295)

FXTM Trading Platforms 

FXTM provides MT4 and MT5 trading platforms for their customers. With FXTM, MT4 and MT5 are available on Windows and Mac systems and on iOS and Android mobile devices.

They also have Proprietary mobile app named FXTM Trader. With FXTM Trader, you can take advantage of the broker's copy trading service in FXTM Invest.

FXTM Products

In Kenya, traders can get access to over 1000 trading instruments with FXTM. FXTM offers Forex, CFDs, Metals, Stocks, Commodities and Indices.

They offer 4 types of accounts in Pakistan. Micro Account, Advantage Account, Advantage Plus Account and Demo Account. 

For forex trading in Pakistan, They offer 1:1000 leverage for micro Account and 1:2000 for Advantage and Advantage Plus Accounts. 


In Kenya, Deposit to FXTM is free. For withdrawal through ewallet is free but with credit card, you will be charged a fee. 

Minimum deposit in FXTM is $10. Micro and Advantage Plus Accounts do not have any commission. But for Advantage account commission ranging (on average) from $0.40 to $2 per $100K notional value. FXTM spreads starts from zero pips.

FXTM Customer Support

FXTM customer support includes a comprehensive FAQ section, which you can use to answer a few questions before contacting the support team. Kenyan Traders also can email them, call them or do live chat on FXTM website to resolve their issues.

Read Full Review of FXTM

FXTM Pros & Cons


- They provide amazing customer service     

- FXTM has great educational tools   

- Easy and fast account opening


- The broker charges Inactivity and withdrawal fees

- CFD fees are high

Want to trade with FXTM? You can do so by clicking the following link:


So, that’s it for our list of the best CFD brokers in Kenya. We hope you found this article helpful and that it has given you a good starting point when choosing a broker. If you have any questions or want to share your experiences with any of the brokers mentioned here, please don’t hesitate to leave a comment below. And finally, we want to ask – which broker do you like the most? Let us know in the comments.

Best CFD Brokers in Kenya 2024

Next Read: Best CFD Brokers in South Africa 2024