
Exness Review A Comprehensive Analysis of Kenya's Leading Forex Broker
Quick Verdict: We enjoyed trading here.
Minimum Deposit
$5
Regulation
CMA, FCA
Trading Platforms
MetaTrader 4, MetaTrader 5

Founder & CEO of Kenya Forex Firm • 10+ Years Experience
Last verified: 15 May 2025
Exness Detailed Ratings
Exness Pros
- ✓ CMA regulated broker ensuring safety and security
- ✓ Low minimum deposit of just $5
- ✓ Accepts local payment methods including M-Pesa
- ✓ Offers free forex trading education
- ✓ User-friendly trading platforms
- ✓ 30% welcome bonus for deposits above $100
Exness Cons
- ✕ Higher spreads compared to some international brokers
- ✕ Limited range of trading instruments
- ✕ Inactivity fee after 180 days
- ✕ Withdrawal processing can take time
Introduction to FxPesa
FxPesa stands as a pioneering forex broker in Kenya, earning the distinction of being the first broker to receive regulation from the Capital Markets Authority (CMA). As a subsidiary of EGM Securities, which is part of the Equiti Global Group, FxPesa has established itself as a trusted platform for forex trading in East Africa since its founding in 2019.
This comprehensive review examines FxPesa's offerings, from its trading platforms and account types to its fees and customer service, providing you with all the information needed to determine if this broker aligns with your trading needs.
Regulation and Security
FxPesa operates under the regulatory oversight of Kenya's Capital Markets Authority (CMA), holding license number 107. This regulation ensures that the broker adheres to strict operational standards, providing traders with a secure trading environment. The broker implements several security measures, including:
- Segregated client funds in top-tier banks
- Negative balance protection
- Automated risk management systems
- Compliance with anti-money laundering regulations
Being regulated by a local authority offers Kenyan traders an additional layer of security, as any disputes can be resolved within the country's legal framework.
Trading Platforms
FxPesa offers multiple trading platforms to cater to different trader preferences:
MetaTrader 4 (MT4)
The industry-standard platform known for its reliability and comprehensive features:
- Advanced charting tools
- Multiple timeframes
- Expert Advisors (EAs) for automated trading
- Customizable indicators
- Mobile trading capabilities
MetaTrader 5 (MT5)
An upgraded version of MT4 with additional features:
- More timeframes and chart types
- Enhanced technical analysis tools
- Economic calendar integration
- Market depth information
- Multiple order types
FxPesa Trader
FxPesa's proprietary platform designed for user-friendly trading:
- Intuitive interface
- Quick execution
- Mobile compatibility
- Simplified trading process for beginners
Account Types
FxPesa offers two main account types to accommodate different trading styles and experience levels:
Executive Account
- Minimum deposit: $5
- Spreads starting from 1.5 pips
- Commission-free trading
- Leverage up to 1:400
- Ideal for beginners and casual traders
Premier Account (ECN)
- Minimum deposit: $100
- Spreads as low as 0 pips
- Commission: $7 per standard lot round turn on forex pairs and precious metals
- Commission: $10 per standard lot on CFDs
- Direct market access
- Suited for experienced and high-volume traders
Both account types offer:
- Access to all available trading platforms
- Free educational resources
- Customer support
- Demo account option for practice
Trading Instruments
FxPesa provides access to various financial markets:
- Forex: Major, minor, and exotic currency pairs
- Commodities: Gold, silver, oil, and other raw materials
- Indices: Major global stock indices
- Cryptocurrencies: Limited selection of digital currencies
While the range of instruments is adequate for most traders, it's worth noting that FxPesa offers fewer trading instruments compared to some international brokers.
Fees and Spreads
Spreads
- Executive Account: From 1.5 pips on major pairs
- Premier Account: From 0 pips (with commission)
Commissions
- Executive Account: No commission
- Premier Account: $7 per standard lot (forex and precious metals), $10 per standard lot (CFDs)
Other Fees
- Deposit fees: None
- Withdrawal fees: None
- Inactivity fee: Applied after 180 days of account dormancy
Deposits and Withdrawals
FxPesa stands out for its integration with local payment methods:
Deposit Methods
- M-Pesa
- Airtel Money
- Equitel
- Bank transfers
- Credit/debit cards
Withdrawal Methods
- M-Pesa (processing time: up to 3 hours)
- Bank transfers (processing time: 1-3 business days)
- Credit/debit cards (processing time: 5-15 business days)
The minimum withdrawal amount via M-Pesa is 1 USD (approximately 157 KES).
Leverage
FxPesa offers leverage up to 1:400, which is the maximum permitted by the CMA in Kenya. This high leverage allows traders to control larger positions with a relatively small capital investment. However, it's important to note that while high leverage can amplify profits, it also increases potential losses.
Educational Resources
FxPesa demonstrates a strong commitment to trader education by offering:
- Free online trading courses
- Webinars and seminars
- Trading guides and tutorials
- Market analysis and news
- Demo account for practice trading
These resources are particularly valuable for beginners looking to develop their trading skills before risking real capital.
Customer Support
FxPesa provides customer support through multiple channels:
- Live chat on the website
- Email support
- Phone support
- Physical office in Nairobi
- Social media channels
Support is available 24/6 (Monday to Friday), with representatives fluent in English and Swahili.
FxPesa vs. Competitors
FxPesa vs. Scope Markets
When compared to Scope Markets, another CMA-regulated broker in Kenya:
- Minimum Deposit: FxPesa offers a lower entry point ($5 vs. $100)
- Spreads: Scope Markets' Gold account offers tighter spreads (0.2 pips) than FxPesa's Executive account (1.5 pips)
- Leverage: Both offer up to 1:400 leverage
- Local Presence: Both have physical offices in Kenya
- Payment Methods: Both accept local payment methods
FxPesa vs. International Brokers
Compared to international brokers like XM and HotForex:
- Regulation: FxPesa offers local regulation, which can be advantageous for dispute resolution
- Spreads: International brokers often offer tighter spreads
- Trading Instruments: International brokers typically provide a wider range of instruments
- Local Support: FxPesa offers localized support and understands the Kenyan market better
- Payment Methods: FxPesa's integration with local payment systems is superior
Pros and Cons
Pros
- CMA regulation ensures a secure trading environment
- Low minimum deposit makes it accessible to beginners
- Accepts local payment methods including M-Pesa
- Offers free forex trading education
- User-friendly platforms suitable for all experience levels
- 30% welcome bonus for deposits above $100
- Local presence and support
Cons
- Higher spreads compared to some international brokers
- Limited range of trading instruments
- Inactivity fee after 180 days
- Withdrawal processing can take time
- Relatively new broker compared to established international names
Conclusion
FxPesa has established itself as a reputable forex broker in Kenya, offering a secure trading environment backed by CMA regulation. Its low minimum deposit, acceptance of local payment methods, and educational resources make it particularly appealing to beginner traders in Kenya.
While its spreads may not be the most competitive in the market, and its range of trading instruments is somewhat limited, the broker compensates with excellent local support, user-friendly platforms, and a deep understanding of the Kenyan market.
For Kenyan traders looking for a locally regulated broker with good customer support and easy deposit/withdrawal options, FxPesa represents a solid choice. However, more experienced traders seeking tighter spreads and a wider range of instruments might want to consider international alternatives.
Overall, FxPesa earns a rating of 4.5 out of 5, making it one of the top forex brokers operating in Kenya today.
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Risk Warning: Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives, and seek independent financial advice if necessary.
Disclaimer: This review is based on our personal experience and extensive research. Some links are affiliate links, and we may receive compensation if you sign up through them. This does not affect our review's independence or ratings.
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