Forex Trading Apps in Kenya With M-Pesa: CMA-Licensed Options
Which forex apps in Kenya are CMA-licensed and accept M-Pesa? The CMA register lists 14 non-dealing online FX brokers, including Exness (162) and HFM.
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In Kenya, check two things before you download a forex app: whether the broker's Kenyan entity is licensed by the Capital Markets Authority (CMA) as a non-dealing online foreign exchange broker, and whether that entity offers M-Pesa in its own name. On 2026-10-01 the CMA register listed 14 licensees, including Exness (KE) Limited (licence 162) and HFM Investments Limited (licence 155). Exness's Kenyan site (exness.ke) runs a dedicated M-Pesa deposit and withdrawal page. Many apps advertised to Kenyans, including several large international brands, are not on the CMA list.
CMA-Licensed Non-Dealing Online FX Brokers (Register, 2026-10-01)
| Licensee | Trading name | Licence no. |
|---|---|---|
| EGM Securities Limited | FX Pesa | 107 |
| SCFM Limited | Scope Markets | 123 |
| Pepperstone Markets Kenya Limited | Pepperstone | 128 |
| Exinity Capital East Africa Limited | FXTM (Exinity) | 135 |
| HFM Investments Limited | HF Markets (HFM) | 155 |
| Windsor Markets Kenya Limited | Windsor Brokers | 156 |
| Exness KE Limited | Exness | 162 |
| Ingot Ke Limited | Ingot Brokers | 173 |
| Admirals KE Limited | Admirals | 178 |
| FP Markets Limited | FP Markets | 193 |
| IC Markets (KE) Limited | IC Markets | 199 |
| Anzo Capital Limited | Anzo Capital | 219 |
| TPXMGLOBAL Kenya Limited | XM (TPXM) | 233 |
| Ava Trade Kenya Limited | AvaTrade | 262 |
Source: licensees.cma.or.ke, category "Non-dealing online foreign exchange broker". The CMA updates the list, so check it on the day you open an account.
Exness and HFM: The Two We Cover
Exness (KE) Limited: licence 162, registered office in Westlands, Nairobi. The exness.ke site states that this entity serves Kenyan residents and Kenyan-incorporated companies only, and has a dedicated M-Pesa deposits and withdrawals page. Its risk warning said 82.18% of retail investor accounts lose money with this provider when we checked. Read our Exness Kenya guide for account details.
HFM Investments Limited: licence 155, trading as HF Markets. HFM runs a Kenya-facing site (hfm.com/ke). Before funding, confirm in your account documents that you are onboarded by the Kenyan entity and not the international SVG/Seychelles company. Our HFM Kenya guide covers what to check.
M-Pesa: What to Check in the App
- Who receives the money? The M-Pesa paybill or till should belong to the licensed broker entity, never to an individual.
- KES vs USD account: a USD account means currency conversion on every M-Pesa deposit and withdrawal. Compare the rate against the Central Bank of Kenya reference rate.
- Limits and timing: check per-transaction minimums and maximums and the withdrawal processing time in the app's own funding screen.
- Withdrawals go back to your own line: use an M-Pesa number registered in your name, matching your KYC.
Apps That Aren't CMA-Licensed
An app can accept M-Pesa through a payment agent without the broker being licensed in Kenya. In that case you are dealing with an offshore company, and CMA investor protection and complaint channels don't apply. Brokers we cover such as Vantage, PU Prime and JustMarkets did not appear on the CMA non-dealing FX broker list on 2026-10-01. Be very wary of "signal" or "account management" groups that ask you to send M-Pesa to a personal number.
Related: Searching for JustMarkets in Kenya? See JustMarkets Kenya.
Official sources: CMA Kenya.
Forex Trading Apps in Kenya With M-Pesa: Your Questions Answered
Which forex brokers are licensed in Kenya?
On 2026-10-01 the CMA register listed 14 non-dealing online FX brokers, including FX Pesa, Scope Markets, Pepperstone, Exinity (FXTM), HFM, Exness, IC Markets, XM (TPXM) and AvaTrade.
Is Exness licensed in Kenya?
Yes. Exness (KE) Limited holds CMA licence 162 as a non-dealing online foreign exchange broker.
Can I withdraw forex profits to M-Pesa?
With brokers that support it, yes — withdrawals usually go back to the M-Pesa line registered in your own name, matching your KYC.
Sources checked 2026-10-01: CMA Kenya licensee register (non-dealing online foreign exchange brokers); exness.ke regulation page, homepage and deposits-and-withdrawals page. Forex and CFDs carry a high risk of losing money rapidly due to leverage.
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- Hà Ngọc Lộc
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Rules, prices and payout terms on this page were checked against the official websites, help-centre articles and published terms of the firms mentioned, on the date above. Prop firms and brokers change conditions often — confirm the current version on the official site before you buy or deposit. Read our broker review methodology and affiliate disclosure.
Official sources & documentation verified
- CMA Kenya(cma.or.ke · Official Regulator)
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Check Each Broker for Your Country
Listed in no particular order. Each broker onboards you through a different legal entity depending on where you live — confirm the entity, its regulator, leverage cap and withdrawal terms before funding.
Exness
Standard from $10 · MT4/MT5 + Exness Terminal · entity varies by country
HFM
$0 Cent/Zero/Premium · MT4/MT5 + HFM App · FCA/FSCA/CMA/offshore
Risk disclaimer: CFDs and leveraged forex are complex instruments and carry a high risk of losing money rapidly. Protections, leverage and available products depend on the entity that holds your account. Affiliate disclosure: HNL Growth may earn a commission when you open an account through broker links on this page.