FXPesa review explores a Kenya-based forex and CFD broker offering retail and institutional trading via globally recognised platforms. Operated by EGM Securities Ltd, FXPesa is regulated locally and has gained popularity across East Africa due to its mobile-first infrastructure, local deposit options, and accessible account types.

Regulation and Safety

FXPesa is a brand of EGM Securities Ltd, authorised and regulated by the Capital Markets Authority (CMA) of Kenya under license number 107. As a CMA-regulated broker, FXPesa must adhere to strict client fund segregation, conduct standards, and periodic reporting. While CMA does not offer compensation schemes like FCA’s FSCS, the local framework ensures oversight and accountability. Negative balance protection is provided to all retail clients.

Execution Model and Trading Platforms

FXPesa uses an STP/NDD model, routing orders directly to liquidity providers without dealing desk intervention. Traders can access the following platforms:

• MetaTrader 4 (MT4)
• MetaTrader 5 (MT5)
• FXPesa proprietary Web and Mobile app

Platforms are available for desktop, web, Android, and iOS. Execution speeds are competitive, with no requotes. FIX API is not available for retail clients, but VPS hosting can be accessed through third-party providers.

Markets and Instruments

FXPesa offers trading in over 200 instruments across major asset classes:

• Forex (major, minor, and exotic pairs)
• Commodities (gold, silver, crude oil, natural gas)
• Indices (US500, NAS100, UK100, GER40)
• Shares (US stocks like Apple, Amazon, Tesla)
• ETFs (limited selection via MT5)

Cryptocurrency CFDs are not currently supported.

Accounts, Spreads and Leverage

FXPesa provides two main account types:

• Executive Account: Spreads from 1.4 pips, no commission
• Premier Account: Raw spreads from 0.0 pips, $7 round-trip commission

Minimum deposit is $5 (KES equivalent allowed). Leverage up to 1:400 is available for major forex pairs. The stop-out level is set at 50%. Swap-free (Islamic) accounts are offered upon request.

Funding and Base Currencies

FXPesa supports a wide range of local and international funding methods:

• Mobile money (M-Pesa, Airtel Money)
• Bank transfer (local and international)
• Credit/debit cards
• Skrill and Neteller

Supported base currencies include USD, KES, EUR, and GBP. Deposits via M-Pesa are instant; bank withdrawals take 1–2 business days. No fees are charged on deposits, and one free withdrawal per month may apply depending on the method.

Client Protections and Features

FXPesa enforces client fund segregation and negative balance protection. All user platforms are secured with SSL encryption and offer 2FA. The mobile app supports biometric login. Although CMA does not provide a statutory compensation fund, FXPesa undergoes regular audits and complies with local AML/KYC regulations. Educational webinars, daily market analysis, and free trading tools are available to all users.

Institutional and Retail Offering

FXPesa caters mainly to retail traders in East Africa but also offers solutions for introducing brokers and affiliates. Institutional services such as FIX API, white-label brokerage, or prime brokerage are not offered. However, high-volume traders can request custom pricing and receive premium support.

Pros and Cons

Pros

• Regulated by Kenya’s CMA
• Very low minimum deposit (KES and USD)
• Supports M-Pesa and local bank transfers
• MT4, MT5, and proprietary apps available
• Free educational resources and webinars

Cons

• No FIX API or institutional-grade services
• No crypto CFD trading
• Limited international stock and ETF access

Frequently Asked Questions

Is FXPesa regulated?

Yes, FXPesa is regulated by the Capital Markets Authority (CMA) of Kenya under license number 107.

Does FXPesa support M-Pesa payments?

Yes, M-Pesa is fully supported for both deposits and withdrawals, with instant processing.

What is the minimum deposit at FXPesa?

The minimum deposit is $5 or the KES equivalent for Executive accounts.

Can I use MetaTrader with FXPesa?

Yes, FXPesa offers MetaTrader 4 and MetaTrader 5 on desktop, web, and mobile platforms.

Is crypto trading available on FXPesa?

No, FXPesa does not currently offer cryptocurrency CFDs.