Is forex trading legal in Kenya?
Yes. Retail forex and CFD trading is legal in Kenya and is regulated by the Capital Markets Authority (CMA). The CMA licenses online forex brokers and money managers and maintains a public register of licensees.
Trading with a CMA-licensed broker means the firm is supervised locally, must segregate client funds and follows conduct rules. Many Kenyan traders also use brokers licensed abroad; those firms are legal to use but are not supervised by the CMA. This page lists who currently holds a CMA online forex licence so you can check before you open an account.
CMA-licensed online forex brokers
| Licensed entity | Trades as | Licence type |
|---|---|---|
| EGM Securities Ltd | FXPesa | Dealing (online forex) |
| Scope Markets Kenya Ltd | Scope Markets | Non-dealing (online forex) |
| Pepperstone Markets Kenya Ltd | Pepperstone | Non-dealing (online forex) |
| HF Markets (Kenya) Ltd | HFM | Non-dealing (online forex) |
| Windsor Markets Kenya Ltd | Windsor Brokers | Non-dealing (online forex) |
This list is for reference and may be out of date. The Capital Markets Authority (CMA) maintains the authoritative register; always confirm a firm's current status directly. Inclusion is not an endorsement. Informational only — not financial or legal advice.
Trading with an offshore broker
It is legal for Kenyan residents to open accounts with brokers regulated in other jurisdictions. Those accounts fall outside CMA supervision, so dispute resolution and fund protection follow the rules of the broker's home regulator. Understand where a broker is licensed before depositing.