Best Forex Brokers in Kenya 2024

Kenyan traders have a number of Forex Brokers to choose from when it comes to investing in the global currency market. However, not all brokers are created equal and some are definitely better than others. In this article on AtoZ Markets, we will discuss the best Forex Brokers in Kenya and provide you with information on what to look for when choosing a forex broker. So, whether you are just starting out or you are an experienced trader looking for a new broker, read on for the best options available.

How to choose a Kenyan Forex Broker?

When choosing a Kenyan Forex broker, it is important to consider the following factors: regulation, leverage, spreads, fees, trading platforms, account types and customer support.

Regulation is an important factor to consider when choosing a Kenyan Forex broker. The Central Bank of Kenya regulates the forex market in Kenya. It is important to choose a broker that is regulated by the Central Bank of Kenya.

Leverage is another important factor to consider when choosing a Kenyan Forex broker. Leverage allows you to trade with more money than you have in your account. This can help you make more profit, but it also increases your risk. It is important to choose a broker that offers leverage that suits your trading style.

Spreads are the difference between the buy and sell price of a currency pair. When you trade with a Kenyan Forex broker, you will have to pay the spread. The spread is usually a small percentage of the total value of the trade.

Fees are another important factor to consider when choosing a Kenyan Forex broker. Some brokers charge commissions on each trade, while others charge a monthly fee. It is important to choose a broker that charges fees that are suitable for your trading style.

Trading platforms are the software that you use to trade with a Kenyan Forex broker. It is important to choose a broker that offers a trading platform that suits your needs.

Account types are another important factor to consider when choosing a Kenyan Forex broker. Some brokers offer demo accounts, which allow you to try out their platform and test your trading skills. It is important to choose a broker that offers an account type that suits your needs.

Customer support is another important factor to consider when choosing a Kenyan Forex broker. It is important to choose a broker that offers customer support that is responsive and helpful.

If you are new to Forex trading, it is advisable to choose a broker that offers a demo account. This will allow you to try out the broker's platform and test your trading skills. By using a demo account, you can gain experience and confidence in your trading before committing any real money. By considering the above factors, you can choose a broker that is best suited for your needs.

Best Forex Brokers in Kenya


Best Forex Brokers in Kenya

It's not an easy task to find a reliable broker. We have done the research to provide you trusted forex brokers. We have compiled the list of top five best Forex Brokers in Kenya. All the brokers listed here are regulated by reputable regulatory authorities that accept Kenyan traders.






1. AvaTrade

One of the best  Brokers for Kenyan traders is AvaTrade. This broker offers a wide range of currency pairs, low spreads, and a variety of trading platforms to choose from.

AvaTrade logo

image credit: AvaTrade

AvaTrade Regulations

AvaTrade id licensed and regulated by numerous regulators around the world:

Ireland and Cyprus: Avatrade is regulated by the Central Bank of Ireland and Cyprus Securities and Exchange Commission in Europe.

Poland: AvaTrade is regulated by the Polish Financial Supervision Authority.

Australia: AvaTrade is regulated by ASIC in Australia.

Global: AvaTrade Global AvaTrade has been supervised by the British Virgin Islands Financial Services Commission for its international operations.

Japan: AvaTrade is regulated by the Financial Services Agency and Financial Futures Association of Japan in Japan.

Middle East: AvaTrade is under the supervision of Financial Regulatory Services Authority (FRSA) for the Middle East

Israel: AvaTrade is regulated by the Israel Securities Authority in Israel.

AvaTrade Trading Platforms

The broker has a wide range of different trading options that are manual , which include the popular MetaTrader 4. MetaTrader 5, WebTrader, AvaOptions for options trading and AvaTradeGo to trade on the go.

Automated trading is offered by DulpiTrade and ZuluTrade.

AvaTrade Products

They provide a range of over 55 Forex pairs, Options on 55 Forex pairs, 14 cryptocurrency, stocks CFDs of large corporations across the world, ETF, Bonds, Indices and Commodities. Spreads for brokers begin at zero and leverage could be as low as 1:400.

Costs of AvaTrade

AvaTrade is not a fee or charge for trades or transactions. Profits are generated through spreads and swaps that are generated through trading. The minimum amount to deposit will be 100 USD in your currency of choice.

When you transfer funds to E-wallets or credit cards The minimum amount will be one currency base for your account. If you make a bank transfer withdrawal the minimum amount you can withdraw will be 100 base currencies.

AvaTrade Customer Support

The broker also provides live chat support through chat bots or live chat agents. They also offer WhatsApp help and telephone assistance 24/7. We've checked their chat live. They are very prompt in their responses.

Read Full Review of AvaTrade

Pros and Pros and AvaTrade


√ A wide range of instruments are available that comprise Cryptocurrencies, Stocks, Commodities.

√ Multi-platform trading platform that includes the highly popular AvaTradeGO application.

√ AvaTrade is a member of EAs

√ They compete in terms of spreads and leverage

√ The client's funds are kept in separate accounts to provide more security.

√ AvaTrade has been licensed to operate for use in Europe, Australia, Japan, British Virgin Islands, UAE and South Africa.

√ Customer support is extremely prompt in responding.


- AvaTrade is not available in Belgium, Brazil, Democratic People's Republic of Korea (DPRK), New Zealand, Turkey, USA.

- Support via telephone is not available 24 hours a day and 7 days a week.

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

2. XM

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. The broker is regulated by the following regulatory authorities:

Cyprus: XM is licensed and regulated by CySEC (Cyprus Securities and Exchange Commission).

Australia: XM is regulated by the Australian Securities and Investments Commission (ASIC). 

Belize: XM is licensed by IFSC (International Financial Services Commission).

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.

If you are into CFD trading, you should also read our Best CFD Brokers in Kenya 2024 article

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.

Costs of XM 

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.

Best Forex Brokers in Kenya 2024

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 Forex with XM

3. Vantage

In 2009, Vantage started its journey as Vantage FX. In January 2022, they rebranded Vantage FX as Vantage. 

Vantage logo

image credit: Vantage

Vantage has four entities

  1. Vantage Global Prime LLP in London
  2. Vantage Global Prime Pty Ltd in Australia
  3. Vantage International Group Limited in Cayman Islands
  4. Vantage Global Limited in Vanuatu.

Vantage Regulations

Yes, Vantage is a licensed and regulated broker.  All its Four entities are licensed and regulated by different regulatory authorities.

United Kingdom: Vantage Global Prime LLP is authorised and regulated by the Financial Conduct Authority in London. 

Australia: Vantage Global Prime Pty Ltd is registered in Australia and regulated by ASIC.

Cayman: Vantage International Group Limited registered in Cayman Islands, and regulated by the Cayman Islands Monetary Authority (CIMA).

Vanuatu: Vantage Global Limited is authorized and regulated by the Vanuatu Financial Services Commission (VFSC) in Vanuatu.

Vantage Trading Platforms

They have Proprietary Web based Platform named ProTrader. They also have the industry standard MT4 and MT5 trading platform for mobile, desktop and web browser. They also have Proprietary mobile app named Vantage App.

Vantage Products 

Vantage offers Forex, Indices, Precious Metals, Soft-Commodities, Energy and Share CFDs. Vantage offers 44+ FX pairs, this includes major, minor, and exotic currency pairs. As Precious, they offer Gold, Silver and Copper.

Vantage offers 5 soft commodities that include Cocoa, Coffee, Cotton, Orange Juice and Sugar Raw.

Vantage offers 5 Energy products that include Oil, Natural Gas, Gasoline, Gasoil and Oil Cash. 

Vantage also offers its clients access to some of the largest listed companies in the US, UK, Europe and Australia through its share CFDs. On MT4, you can trade US listed companies and on MT5, you can trade UK, Europe and Australia listed companies.

They have different types of Accounts. Standard STP, Raw ECN, Pro ENC, Swap Free and Demo Account.

They offer leverage from 1:20 to 1:500.

Costs of Vantage

Vantage doesn't have any deposit and withdrawal fee. Minimum deposit is $200 for standard STP accounts, $500 for Raw ECN accounts and $10,000 for Pro ECN accounts. Subsequent minimum deposit is $50.

Commissions of Vantage: 

For trading with Standard STP accounts, there is no commission. For Raw ECN accounts, the commission is $3 per lot per side. For Pro ECN accounts, commission is $1.75 per lot per side.

Vantage Customer Support

Vantage has a team of skilled support personnel that can be reached via live chat, email as well as by phone calling. In the live chat, you can get info from the chat bot. If the chat bot is not enough, it will connect you with a live agent.   I have checked their live chat. They are quick to respond. 

Read Full Review of Vantage

Pros and Cons of Vantage


√ World-class MT4 and MT5 trading platform.

√ Social trading through ZuluTrade, DupliTrade, and MyFXBook auto trade.

√ Spreads from 0.0 pips.

√ Built-in economic calendar and forex sentiment indicator

√ The award-winning broker provides a RAW ECN and PRO ECN account.


- The minimum deposit is $200.

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

4. Pepperstone

Pepperstone is a forex broker that is located in Melbourne, Australia. The company was founded in the year 2010. They offer services for Kenyan traders as well.

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.

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 regulated in the form of BaFin, CMA, and CySEC.

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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.

Cost of Pepperstone

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 an ordinary 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.

Read Full Review of Pepperstone

Pros and Pros and Pepperstone


√ 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 withPepperstone? You can do so by clicking the following link:

5. Axi

Established in 2007, Axi is a recognized and trusted broker with its head office located in Sydney, Australia. Axi is a brand name of AxiCorp Financial Services Pty Ltd (AxiCorp). It quickly made a name for itself and gained an international presence.


image credit: Axi

Axi Regulations

Axi is licensed and regulated by different reputable regulatory authorities around the world.

Australia: AxiCorp is authorised and regulated by the Australian Securities & Investments Commission (ASIC)

Dubai: AxiCorp Financial Services Pty Ltd (DIFC Branch) is regulated by the Dubai Financial Services Authority (DFSA).

United Kingdom: AxiCorp (Axi UK) is authorised and regulated by the Financial Conduct Authority (FCA).

Vincent and the Grenadines: Axitrader (Owned by AxiCorp) is registered by the Financial Services Authority.

Axi Trading Platforms

Axi is a MetaTrader broker. Axi has the MT4 Next Gen add-on. MT4 is a widely accepted forex trading platform that is used by most of the retail forex traders. It has a unique feature that helps the trader to operate with flexibility. Moreover, there are many integrated features for the traders to build their own EA’s.

Axi also offers MetaTrader 4 web trading platform where you can trade in any browser without downloading any software. Android & IOS of the MT4 app are available for download from the Play store & app store respectively for Axi. 

Axi Products

Axi is a MetaTrader-broker that offers to trade with 140+ currency pairs and 50+ CFDs on Stocks, 30+ index CFDs, 14+ Commodities including oil, and metal,  and 11+ CFD cryptocurrencies.

Axi offers 4 types of accounts to Kenyan traders. Standard Account, Pro Account, Elite Account and Demo Account. They offer 1:400 leverage.

Cost of Axi 

Axi doesn't have any commission for Standard accounts. In Pro account commission is $7 per standard lot and $3.5 in Elite Account. 

For Standard and Pro accounts they don't have any minimum deposit but for Elite Account minimum deposit is $25,000.

Axi Customer Support

The customer service of Axi is available 24 hours a day, Monday to Friday. Traders can call them free from certain countries with some specific phone numbers available on their website. 

Traders can use the live chat option to get any instant support. The international phone no. and email address is as follows.

Read Full Review of Axi

Pros and Cons of Axi


√ Premium MT4 NextGen add-on package

√ Low trading fees and no inactivity or account closure fee

√ No deposit and withdrawal fees

√ No minimum deposit requirement for Standard and Pro account


- Doesn't provides MT5 trading platform 

- Customer Support only on weekdays

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


So there you have it, our top 5 Forex brokers for Kenyan traders. Hopefully this list has made your job a little bit easier and you can now focus on finding the broker that is right for you. All of these brokers are regulated by reputable authorities so you can be sure your money is safe, but each one offers something different in terms of products, services, and customer support. Do some more research to figure out which broker best suits your needs and then get started trading. Which forex broker do you like the most? Let us know in the comments below.

Best Forex Brokers in Kenya 2024


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