The EGM Securities Kenya Minimum deposit is $, which is pretty much the standard in the FX and CFD industry. The amount of available CFDs is not particularly attractive, especially 04/08/ · Is EGM Securities Safe..? Yes. They are regulated by Kenya’s regulatory body, Capital Markets Authority of Kenya (CMA). This is a very important aspect of EGM securities 08/06/ · EGM Securities Review () – ☑️ Pros and Cons Revealed 68 Rand / Dollar = Rand / Pound = Rand / Euro = 17 Gold (usd/oz) = 1 Platinum 04/08/ · EGM securities provides trading on Forex, as well as trading CFDs on currency pairs, commodities, indices and metals. Their support is fair, not quite good as some other + (non-toll Free numbers if you are calling from outside Kenya) [email protected] Margined FX and contracts for difference are complex ... read more
All the information provided for the rolling commodities is applicable to the executive account holders only. The next is Futures commodities. There are nine contracts of which only four are majors, the rest are minor contracts. The Futures commodities have Silver, Gold, Oil, Copper, Gas, Coffee, Cotton, and Cocoa.
Same as Indices, all the contact information is clearly provided for the commodity contracts as well. The expiry calendar is also provided.
Shares CFDs: There are CFD shares available with competitive leverage to increase the exposure of the clients. There are 75 top global company shares available to trade from. The details of what is a share, along with stock CFDs, calculations of profit and loss with examples are clearly explained. There are long and short options available for CFD stock trading.
Financing rates are also available. The trade details of each share like its margin, leverage, contract, commission, and trading hours all are available distinctively. All in all, there are good options of trading instruments with EGM Securities, though there are fewer trading heads which are available. EGM securities have MT4 as their platform. MT4 can be accessed on desktop, mobile, and web trading. Yes, we do recommend them for traders looking to trade with a locally regulated broker.
EGM Securities is regulated by the local body of Kenya, the CMA. This is the first and foremost thing why we recommend EGM Securities. Even though they have a limited number of trading instruments, but all the details of the contracts, type of instruments, holiday calendar, calculations, etc. are given in a very clear and concise manner on their website. This shows that EGM Securities believes in keeping everything transparent. A local phone number is also available to reach out to the broker.
EGM Securities has other features like 61 currency pairs, and multiple CFDs on MT4 platform. EGM securities has other positive features like cross-device and cross-platform trading, Expert Advisors capabilities of MT4 platform, data-driven decision making through charting packages and technical indicators and other such valuable research and analysis tools which are vital for your trading and can make it an enriching experience.
EGM Securities has its limitations: like limited trading instruments, higher fees for the executive account, high minimum deposit and commission charges for Premiere account as compared to other brokers that offer low spread accounts.
But overall , we recommend EGM Securities as a good option if you are looking to specifically trade with a locally regulated broker with a local support, good trade execution. Regulated By: Capital Markets Authority CMA Kenya. Headquarters: 12th floor, Tower 2, Delta Corner Towers, Waiyaki Way, Westlands, Nairobi.
Foundation Year: EGM Securities Kenya Pros Regulated with CMA in Kenya. Low minimum deposit. Offers Islamic account to muslim traders. One of the major benefits with Exness is they have very low spread compared to most other competing brokers.
Account types available help both newbies and pro traders. Other benefits include readily available support, fast executions, daily market reports, support from Expert advisors and meta trader plugin supports. There are more than instruments to choose from including forex, CFDs on precious metals, energy and indices. Their fees is lowest with their Ultra Low account. Their trading accounts are quite straightforward. XM provides four account options. For Standard and Micro account, the required minimum deposit amount is 5 USD and gives a maximum leverage of For XM Ultra Low account, the required minimum deposit amount is 50 USD with similar leverage.
Plus they have free access to forex market education including their research, forex webinars, video tutorials and free daily technical analysis that is available to all their customers. Plus, they accept M-Pesa for account funding. Available Platforms: Metatrader 4 and Metatrader 5 for desktop and mobile and WebTrader. The parent company of FXTM, Exinity Group Exinity Capital East Africa is regulated by CMA, so it is considered a safe forex broker to trade with for Kenyan traders.
FXTM offers two broad account options — Standard and ECN, both accounts having further sub-account types. Both accounts come with a maximum leverage of upto Additional benefits include in-depth market analysis, tutorials through webinars and seminars. Additionally, FXTM also supports trading in Cryptocurrency. Scope markets SCFM Limited was the second forex broker that was granted license by CMA in It is considered a low risk forex broker for Kenyan traders because of their regulated by CMA.
The Silver account is a standard account type with no commissions, but their average fees is quite high i. Their support is decent. There are some points that you must check in a broker before you choose them. Below is our points checklist that you can use an a guideline:.
Regulated brokers can be held accountable for any bad practises like stop hunting, trading againt customers etc. But when you are trading with an unregulated broker there will be no Grievance Redressal in case the broker commits a fraud against you.
There are 6 forex brokers regulated by CMA as of Feb. They normally update the list every month. For ex. FXPesa is regulated for offering Forex Trading as Non-Dealing FX broker under License no.
The above example is the Regulation and Client Protection document as FXPesa which highlights their company name, Company Registration No. Some brokers may tell you that their spread is low, but may not tell the fact that they charge commission per trade or charge fees during withdrawals. Some forex brokers like FXTM charge withdrawal fees with some of their methods. During our tests we found that their overall fees is quite competitive.
They have competitive spread from 1. Also there is no inactivity fees. Ask your forex broker about their overall fees. Most brokers will have a spread comparison table on their website. Is the instrument that you want to trade available or not? For example, you might want to trade CFDs on NASDAQ Many other forex brokers like Exness, FXTM, Hotforex etc. offer wide range of trading instruments. But if thee is some specific instrument that you want to trade, then always check first if that is available with the broker.
Ensure that these methods are available at the forex broker you are choosing. EGM Securities is a Forex and CFD Broker that features on its trading platform currency pairs as well as 4 precious metals and CFDs on 28 stocks and indices. EGM Securities limited is regulated and overseen by the Capital Markets Authority in Kenya. For FX and CFD trading, EGM Securities offers MT4. A popular platform used not only for executing trades but also for analyzing financial markets and automated trading.
MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. The trading platform gives access to 61 currency pairs, 4 precious metals, 28 CFD instruments European and American stocks and indices. As any other FX and CFD broker, EGM Securities charges a spread fee.
For the most current spread charges, please visit the EGM Securities official website. Here is a spread comparison table that contrasts EGM Securities spreads with popular industry competitors. Data about spreads were taken from the website of the broker. EGM Securities Limited is authorized and regulated by the Capital Markets Authority CMA. company registration number PVT-AAAAFF7.
EGM Securities Limited adheres to the regulatory guidelines of the CMA in Keyna.
FXPesa is a popular FX trading platform in Kenya that is regulated with CMA. But we found some downsides. They were launched in FXPesa is the trading name of EGM Securities Limited company registration number PVT-AAAAFF7 , a Non-Dealing Desk NDD broker providing Electronic Communications Network ECN execution of Forex and CFD trades and regulated by Capital Market Authority CMA of Kenya.
The broker would be held accountable in case of any wrongdoing or mishandling of funds. They also have a local office and a phone number to reach out to. Spread: FXPesa charges a higher spread on standard currency pairs when compared to the other brokers.
If we compare the same currency pair of EURUSD with Hotforex , they charge 1. This means that Hotforex provides lower spread when compared to FXPesa. Other brokers like XM Trading , too, have a lower spread of 0. Commission s : The only account currently offered on FXPesa is the Executive account, which is no-commission spread only account.
So, there are no commissions charged for trading on FXPesa. Deposit and Withdrawal Fee: All local deposit and withdrawals methods are fees free for traders in Kenya. Inactivity Charges: FXPesa will charge an inactivity fee if the account is inactive for calendar days or more. Activity counts as placing or closing of a trade or maintaining an open position on your account.
If the account goes inactive, an inactivity fee may be applied to the account at some stage in the future and in accordance with the designated currency of the account. Compared to other brokers, the higher spreads is not a concerning factor, one can opt for FXPesa for the ease of trading at transparent cost that they provide. The Demo Account is for beginner traders where you can gain trading experience. There are many advantages of the Demo accounts.
These are just like live accounts with real market pricing, and unlimited usage, access to the MT4, mobile apps and Webtrader platforms. Note: The trading conditions in the live market may be different from demo. There is no interest in this account type.
You can also contact their support for converting a normal trading account to an Islamic account. Opening a Live Trading Account with FXPesa does not include many steps. You can follow the below-mentioned steps to open an account with them:.
Step 1 Enter the required details: First of all, you need to click on the Open Real Account button at the top of the home page of FXPesa website.
After that enter the required details as shown in the below screenshot. Step 2 Select Account Types: Now you need to select the trading account types and set the trading account password. You can select from the 2 account types that are available. Step 3 Upload the ID proof: After login to FXPesa dashboard, you need to verify your account details which is part of KYC.
You are required to upload your ID proof and Address proof for verification. For ID Proof you can upload any valid document like copy of your Passport.
For Address proof, you need to upload any bill with your registered address. Step 4 Check Your Email: You should check your registered email as you will receive an email that includes all details of your trading account.
Using those details, you can login to their platform. After following these steps, your account will be created. FXPesa has somewhat limited trading instruments apart from forex compared to other brokers. Let us look at them header wise:. The range of instruments EGM Securities provides is way less than its competitors like XM or Hotforex. All the information like fixed leverage, contract size, commission, trading hours is available along with the holiday schedule on their website.
It is available on both Android and iOS, making it a good muli device experience. Through your mobile, you can go to MyFXPesa account management portal for trading a range of products and services. It does not require any downloading and installing and gives instant access to your account. The market analysis can be done on web based chart with the technical indicators and drawing tools.
One can access their trading statements, fund their account with their preferred payment partners and set the account as per requirement. FXPesa also has MT4 platform. This has multiple functionalities and quick and stable environment for trading. MT4 makes online trading experience an easy experience. MT4 includes automated trading and signals, advance charting tools, research and analysis tools and multi-device supports.
They do not have MT5 trading platform as of yet. Get FXPesa Bonus. We tested their live chat during normal business hours. Their Kenya based Live chat is available during normal business hours. We tested it 3 different times , and found there was a hold time of few minutes, which was higher on weekend. Although the chat responses were slow, but they were accurate for our questions that we asked. We asked questions about their brokerage model NDD or market maker , their EURUSD spread, is any any commission etc.
Email Support: Our first email was answered within under 1 hour during day time. When we asked them queries over emails, there was an auto response generated and then the query was answered will full details within few hours.
Phone: They have a Kenyan phone number i. We did not test their phone support for this review. Apart from this, there is a FAQ section where some of the queries are answered.
Overall, we find their support to be fair. The number of instruments to trade with are not bad. Support is fair, and education section for learning the basics of trading adds to the advantage of trading with FXPesa.
The downsides are the higher spreads for the Forex pairs and the high minimum deposit amount. We feel this could have been lesser since the whole idea for FXPesa was to give easy access to the smaller retail investors. You can deposit via Bank Transfer, MPesa, E-Wallets without any extra fees.
Yes, FXPesa is CMA licensed Non-dealing forex broker in Kenya, and their license no. is They parent company is Equiti Group which is regulated in multiple countries. The max. It is lower exotic currency pairs, and for other instruments like is max. for CFDs on Indices it is See the summary of all the reviews about FXPesa. We value transparency, so if you have experience with this broker then please share it with other readers. FXPesa Review FXPesa is a popular FX trading platform in Kenya that is regulated with CMA.
Regulated By: Capital Markets Authority of Kenya CMA. Headquarters: 12th floor, Tower 2, Delta Corner Towers, Waiyaki Way, Westlands, Nairobi. Foundation Year: What is the minimum deposit at FXPesa? Is FXPesa Legit? What is the leverage at FXPesa? Submit your Review. We have more assets to trade, and have lowered fees with great customer care.
Ranked 1 of 8 Forex Brokers in Kenya. Visit Broker. Read and Write user Reviews. Note: We may earn a commission if you decide to sign up with the broker via the referral links in this review.
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04/08/ · Is EGM Securities Safe..? Yes. They are regulated by Kenya’s regulatory body, Capital Markets Authority of Kenya (CMA). This is a very important aspect of EGM securities 10/08/ · One of the most important factor is that FXPesa’s parent company EGM Securities is regulated by CMA, which ensures surety and security for clients in Kenya. Plus, they have The EGM Securities Kenya Minimum deposit is $, which is pretty much the standard in the FX and CFD industry. The amount of available CFDs is not particularly attractive, especially 08/06/ · EGM Securities Review () – ☑️ Pros and Cons Revealed 68 Rand / Dollar = Rand / Pound = Rand / Euro = 17 Gold (usd/oz) = 1 Platinum 04/08/ · EGM securities provides trading on Forex, as well as trading CFDs on currency pairs, commodities, indices and metals. Their support is fair, not quite good as some other + (non-toll Free numbers if you are calling from outside Kenya) [email protected] Margined FX and contracts for difference are complex ... read more
Exness 3. For domestic withdrawals, the period is between 1 — 3 business days and for international withdrawals between 3 — 5 business days. Is FXPesa Legit? EGM Securities charge an inactivity fee after an account is inactive for calendar days or more. Broker Reviews. Plus 6.The bonus usually only starts giving some expenses back to the trader once the person has proved himself as an active trader. The broker runs a Non-Dealing Egm securities kenya reviews NDD which means it provides direct access to Interbank market exchange rates. Open a Free Trading Account. Hence, although no deposit bonuses are a fantastic way to help you start trading, the terms to benefit from it often require trading with such a high volume before you can withdraw profits, that it may not be worthwhile. Thus, this would give additional assurance to the investors regarding their money being safe with EGM Securities. Visit XM, egm securities kenya reviews.