Overall Rating: ★★★★☆ (4.0/5)

Broker Overview

FXPesa is a forex and CFD broker based in Kenya, offering access to a wide range of global markets through flexible and affordable trading solutions. Founded by EGM Securities, FXPesa has quickly established itself as a trusted broker in Africa, combining local support with global trading standards. In this FXPesa review, we explore its key features, platforms, regulation, fees, and suitability for traders.

Key Features of FXPesa

FXPesa provides a strong selection of features:

• Wide Range of Instruments: Forex, indices, commodities, and shares.
• MetaTrader 4 and FXPesa Trading App: Multiple trading platforms available.
• Local Deposits and Withdrawals: Especially convenient for Kenyan traders.
• Low Minimum Deposit: Starting from just $5.
• Competitive Spreads: Tight spreads with commission-free and commission-based accounts.
• Strong Regulation: Fully licensed and regulated by the Capital Markets Authority (CMA) of Kenya.

FXPesa focuses on offering secure, affordable, and easy-to-access trading for African traders and beyond.

Account Types Offered by FXPesa

FXPesa offers two main account types:

• Executive Account:
  • Commission-free trading
  • Spreads starting from 1.4 pips
  • Suitable for beginner traders
• Premier Account:
  • Raw spreads from 0.0 pips
  • $7 commission per round trip
  • Designed for professional and active traders

Both accounts offer leverage up to 1:400, depending on the asset class.

Trading Platforms and Tools

FXPesa supports robust trading platforms:

• MetaTrader 4 (MT4):
  Popular for its comprehensive charting, EAs, and reliability.
• FXPesa Trading App:
  A user-friendly mobile app offering full trading functionality, real-time quotes, and secure account management.

These platforms cater to both beginner and advanced traders, providing flexibility and ease of use.

Regulation and Security

FXPesa is a fully regulated broker:

• Capital Markets Authority (CMA), Kenya:
  EGM Securities Ltd, the parent company of FXPesa, is licensed under licence number 107.

This local regulation ensures compliance with strict financial standards, offering strong client fund protection and transparent operations.

Fees and Spreads

FXPesa offers competitive pricing:

• Spreads:
  • Executive Account: From 1.4 pips
  • Premier Account: From 0.0 pips
• Commissions:
  • $7 per round trip on Premier Account
• Deposit/Withdrawal Fees: No fees charged by FXPesa
• Inactivity Fees: No inactivity fees currently charged

Traders benefit from affordable trading costs, especially on the Premier Account.

Deposit and Withdrawal Options

FXPesa supports easy and convenient funding methods:

• Deposit Methods: Bank transfer, M-Pesa, Visa/Mastercard
• Withdrawal Methods: Same as deposit methods
• Processing Time: Most transactions processed within 24 hours

Local options like M-Pesa make funding very fast and simple for Kenyan traders.

Customer Support

FXPesa offers responsive customer support:

• Support Hours: 24/5
• Contact Methods: Live chat, email, and phone
• Help Centre: FAQs, platform guides, and educational resources

The support team is knowledgeable and attentive, providing assistance in English and Swahili.

Educational Resources

FXPesa provides a solid range of educational materials:

• Webinars: Regular training sessions covering trading strategies and market insights.
• Video Tutorials: Covering platform usage and trading basics.
• Market Analysis: Daily updates and trading signals.

FXPesa’s educational resources are designed to help beginners build a strong trading foundation.

Pros and Cons of FXPesa

Pros:

• Strong local regulation by Kenya’s CMA
• Low minimum deposit from $5
• Access to MT4 and a proprietary mobile app
• Local deposit and withdrawal options like M-Pesa
• Competitive spreads and transparent pricing

Cons:

• Limited range of global stock CFDs compared to larger brokers
• No MetaTrader 5 (MT5) support
• Limited advanced research tools for professional traders

Who Should Choose FXPesa?

FXPesa is ideal for:

• Beginner Traders: Thanks to low minimum deposits and strong educational resources.
• African Traders: Particularly Kenyan residents using local payment methods.
• Forex and CFD Traders: Seeking competitive spreads and simple platforms.
• Mobile Traders: Preferring trading through a streamlined app.

Those needing access to a wider range of assets or advanced tools may prefer larger international brokers.

Conclusion

FXPesa offers a secure, affordable, and user-friendly trading environment tailored for traders in Kenya and across Africa. With strong regulation under the Capital Markets Authority, competitive trading costs, and convenient local funding options, FXPesa stands out as a top choice for beginner and intermediate traders. While it may lack the broader asset selection of global giants, its focus on accessibility and security makes it an excellent regional broker.