FXPesa

FXPesa is a trading name of EGM Securities Limited, a forex and CFD broker based in Nairobi, Kenya. The firm was established on 6 May 2019, although its own marketing materials state it was founded in 2016. It primarily serves retail traders in East Africa, offering a gateway to global financial markets with a strong focus on mobile-money integration. The broker operates under a Capital Markets Authority (CMA) licence in Kenya, positioning itself as a regulated entity within the region.

EGM Securities Limited holds a Forex Execution License (STP) from the Capital Markets Authority of Kenya, licence number 107. This non‑dealing desk regulatory status permits the firm to offer forex trading to Kenyan residents. The CMA imposes minimum capital requirements and conduct rules, but client fund protection frameworks are less robust than those in tier‑1 jurisdictions. The broker does not appear to hold any additional licences outside Kenya.

FXPesa offers two live account types: Standard and Premier. The Standard account carries no minimum deposit requirement and quotes spreads starting at 1.4 pips with no commission. The Premier account requires a minimum deposit of $100 and offers raw spreads from 0.0 pips, with a commission of $3.50 per lot per side. Both accounts allow a maximum leverage of 1:400, which is high by international standards and implies significant risk for inexperienced traders.

While the broker does not explicitly list its trading platform in the available data, user reviews consistently reference MetaTrader 5 (MT5). This suggests that MT5 is the primary platform offered, providing advanced charting, automated trading capabilities, and a familiar interface. According to the company, the tradable instruments include forex pairs, shares, indices, commodities, and ETFs, though a detailed product list is not disclosed publicly.

Deposits and withdrawals are supported via VISA, Mastercard, Skrill, and Neteller. Although not mentioned in the official methods, many user reviews highlight the convenience of M‑PESA, a widely used mobile money service in Kenya, which appears to be a de facto funding channel. This local integration is a key draw for the broker’s target market.

FXPesa is tailored towards retail forex traders in Kenya and neighbouring regions who value local mobile‑payment integration and high leverage. The educational resources lauded by some users suggest an appeal to beginners, while the raw‑spread Premier account may attract more cost‑sensitive active traders. However, the absence of robust international regulatory oversight makes it less suitable for safety‑conscious investors.