Check If a Forex Broker Is Licensed in Kenya: CMA Register Search

Updated 17 October 2026

Forex trading adverts are everywhere on social media, and many of the platforms behind them are not licensed in Kenya. The Capital Markets Authority licenses online forex brokers, fund managers, stockbrokers, investment advisers and unit trust schemes, and publishes the list on its website. Type the name of a broker, platform or fund below to see whether it appears on the CMA register and under which category.

What the CMA Categories Mean

• Non-dealing online forex broker: passes your trades to other market makers rather than taking the other side of them. Most CMA-licensed forex brokers fall in this group.
• Dealing online forex broker: may act as the counterparty to your trades.
• Online forex money manager: licensed to manage forex trading on behalf of clients.
• Fund manager and approved collective investment scheme: the companies that run money market funds and other unit trusts, and the funds themselves.
• Stockbroker, investment bank and authorised securities dealer: firms that buy and sell shares and bonds for clients on the Nairobi Securities Exchange.
• Investment adviser: licensed to give investment advice for a fee.

How to Use the Result

Many platforms trade under a brand that differs from the licensed company. The register often shows the brand in brackets, for example a company “trading as” a well-known app name. If the brand does not appear, look for the company name in the platform’s terms and conditions or footer and search that instead. A match tells you the company is licensed in Kenya; it does not mean every website using that name is genuine, so make sure you deposit only through the platform’s official app or website and never to a personal M-Pesa number.

The list was taken from CMA’s online register on 17 October 2026. Licences can be granted, suspended or withdrawn at any time, so for a big deposit confirm the current status on the CMA website as well.

Warning Signs of a Forex Scam

• Guaranteed daily or weekly returns. Real trading can lose money.
• An “account manager” on WhatsApp or Telegram asking you to send money to them.
• Pressure to recruit friends or to deposit more before you can withdraw.
• No Kenyan licence and no clear company name.

For other money businesses, use our loan app and Sacco licence checker, and compare savings options with the money market fund calculator.

Frequently Asked Questions

How do I know if a forex broker is licensed in Kenya?

Search its name or its company name in the checker above. CMA-licensed brokers appear with their category and licence number.

Is forex trading legal in Kenya?

Yes, through brokers licensed by the Capital Markets Authority. Trading through an unlicensed platform leaves you with no Kenyan regulator to complain to.

Can I check a money market fund here?

Yes. Approved unit trust schemes and their funds are on the list. Search the fund manager or fund name.

What should I do if a platform is not licensed?

Do not deposit money. If you have already lost money, report it to the police and to CMA.

Data from the Capital Markets Authority online register, retrieved 17 October 2026. Business Radar is not affiliated with CMA.