Full List of CMA-Licensed Forex Brokers in Kenya (2026)

Updated 24 October 2026

Kenya is one of the few African countries that licenses online forex brokers and publishes the list. The Capital Markets Authority (CMA) licenses them under the Capital Markets (Online Foreign Exchange Trading) Regulations, 2017, in three categories. As of 24 October 2026, the CMA licensee register shows 19 licences: 14 non-dealing brokers, 2 dealing brokers and 3 online forex money managers. If a platform asking Kenyans to trade forex is not on this list, it is not licensed to do so in Kenya.

To search the register for a single name, including fund managers and stockbrokers, use our CMA licence checker.

Non-Dealing Online Forex Brokers (14)

A non-dealing broker passes your orders through to liquidity providers and earns a commission or a mark-up on the spread. It does not take the other side of your trade. This is the category most people mean by “CMA-regulated broker”. Source: CMA register, non-dealing online foreign exchange brokers.

Dealing Online Forex Brokers (2)

A dealing broker may act as principal and market maker, which means it can be on the other side of your trade. The regulations require this category to hold more capital. Source: CMA register, dealing online foreign exchange brokers.

Online Forex Money Managers (3)

A money manager trades forex on clients’ behalf (source: CMA register, online forex money managers). It is not a broker where you open your own trading account. Anyone offering to “manage your account” for a share of the profits needs this licence.

How to Check a Broker Yourself

Lists like this one go out of date when CMA adds or removes a licence, so confirm before you deposit:

1. Find the broker’s Kenyan regulatory statement, usually in the website footer. It should name the Kenyan company and give a CMA licence number.
2. Open the CMA register and check that the same company name and number appear in the right category. The brand you see in adverts is often not the company name on the licence; HF Markets, for example, is licensed as HFM Investments Limited.
3. Make sure the website you are using is the Kenyan entity’s. Several global brands run more than one company, and only the Kenyan one is covered by CMA rules.

Red Flags

• “Account managers” or signal sellers on WhatsApp and Telegram who ask you to send money or share your login. Only the three money managers above may manage client forex funds.
• Promises of guaranteed daily or weekly returns. Forex trading carries a high risk of loss, and licensed brokers are required to warn you of it.
• A broker that cites regulation only in another country. A licence abroad does not cover Kenyan clients.

What a Licence Does Not Mean

A CMA licence means the company is authorised and supervised. It does not mean you will make money. Most retail traders of leveraged forex and CFDs lose money, and a licensed broker can still be the wrong choice if its costs are high or its leverage tempts you into large positions. Treat the register as the first filter, not the last.

The CMA also licenses brokers for exchange-traded futures and options; see our list of licensed derivatives brokers and our list of licensed investment advisers. If you would rather invest than trade, our guide on how to buy shares on the NSE is a lower-risk starting point.