How do I know if a broker is regulated and safe in Kenya?

Broker Discussion Forex Brokers
1

I am from :kenya: Kenya I am a beginner and has been trading the US30 Index. I have never traded currencies. How do I know who is a registered and related broker that I can use without any fear of losing my investment. There are some brokers that make it hard to withdraw money

2

Great question, and welcome.

The Capital Markets Authority (CMA) of Kenya, an independent government financial regulatory agency, regulates all financial activities of forex brokers.

Per the following article from April 2020, there are only 3 forex brokers regulated to do business in Kenya. All other brokers are operating without license and should be avoided.

  1. EGM Securities, which is the Kenya-based operations of Equiti Group,
  2. SCFM Limited, and
  3. Pepperstone Markets.