Kenya has made significant economic strides in recent years due primarily to several reforms designed to produce growth, economic stability, and social development. The World Bank has noted that, “Kenya has the potential to be one of Africa’s success stories, given its growing youthful population, a dynamic private sector, skilled workforce, improved infrastructure, a new constitution, and its pivotal role in East Africa.” From 2015 through 2019, its economy grew at an average of 5.7% per year, surpassing most neighbors. The Covid pandemic has produced a slowdown, as elsewhere, but economic recovery is in process.

Due to this economic progress and recent legislation, forex trading in Kenya has witnessed increased popularity over the past ten years. The latest estimates are that over 90,000 forex traders currently ply their trade in the country. The Capital Markets Authority of Kenya (“CMA”) is the primary regulatory oversight authority over foreign exchange matters. In order to protect consumers, it promulgated new regulations in 2017 designed to bring safety and security to the forex market and ensure compliance by a growing band of forex brokers in the country. The CMA has already issued operating licenses to reliable forex brokers within Kenya, but it is highly recommended to take your time searching for the best forex broker in Kenya.


Broker Features Regulator Platforms Next Step
Number One Broker Cedar FX logo Founded:
  • 0% commission and low spreads account
  • Eco friendly account plants new trees per lot traded
- WebTrader, MT4, Mobile
Forex.com logo74% of clients lose money. Capital at risk. Founded: 1999

- Trusted Global Market Leader
- Online FX & CFD Trading
- 180+  Global Markets, 84 FX pairs, 65 shares, 17 popular indices and more
- Forex, Indices, Commodities, Equities & Bitcoin
- Available to US traders

CFTC, CIMA, FCA, FSA, IIRO, NFA FOREXTrader & MT4 for PC, MAC, iPhone, iPad and Android, WebTrader
eToro LogoYour capital is at risk Founded: 2019

- Trade 15 cryptocurrencies
- Beginner friendly

- eToro

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