Best CFD Brokers Kenya Reviewed for 2024

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Based in Kenya and looking to trade CFD stocks, commodities, forex, and other assets?

In this guide, we review the best CFD brokers in Kenya for 2024. Read on to discover top CFD brokers for high leverage limits, low fees, tight spreads, and supported markets.

Best Kenya CFD Brokers Reviewed

Listed below are the top Kenyan CFD brokers:

  1. Scope Markets – This is the overall best CFD broker in Kenya for 2024. Scope Markets supports a huge range of stocks, metals, energies, indices, and currencies. Traders in Kenya have access to 0% commission on all supported markets, not to mention leverage of up to 1:400. The minimum deposit at Scope Markets is just $100.
  2. Capital.com – This global CFD broker accepts Kenyan traders and the minimum deposit requirement is just $20. All supported markets can be traded at 0% commission with tight spreads. Supported markets include stocks, indices, commodities, and forex.
  3. Libertex – This established CFD broker was launched over 25 years ago and now has more than three million clients. It supports hundreds of stocks, currencies, commodities, ETFs, and cryptocurrencies. Leverage of up to 1:500 is available when trading major forex pairs, and less on other CFD assets.
  4. IG – IG is a UK-based brokerage that supports Kenyan traders. It supports more than 18,000 CFD markets, including stocks, forex, commodities, and bonds. Apart from stocks, CFD markets at IG can be traded at 0% commission.
  5. Admirals – Established low-spread CFD provider operates in multiple markets and provides a large array of 8,000 products. The minimum deposit is $25 and spreads are as low as 0.8 pips. This is a highly rated provider that further offers Islamic accounts and fixed income products.
  6. AvaTrade – This CFD broker is regulated in nine jurisdictions, offering Kenyans a safe place to trade. More than a thousand CFD assets are supported, and leverage of up to 1:400 is available. The minimum deposit is $100.
  7. FPMarkets – FPMarkets is a popular CFD trading platform supporting raw spread accounts. This means that traders in Kenya can buy and sell forex pairs from 0.0 pips. In addition to forex, FPMarkets also supports stocks, commodities, indices, bonds, cryptocurrencies, and ETFs.
  8. Forex.com – This market-leading forex and CFD broker supports more than 5,500 tradable markets. Several account types are supported, including commission-free trading and raw spreads.
  9. FxPro – Similar to Forex.com, FxPro is a popular forex broker that supports thousands of other CFD assets. This broker is known for its super-fast execution speeds and deep liquidity levels. Leverage of up to 1:200 is available and supported platforms include MT4, Mt5, and cTrader.

Reviewing the Top CFD Trading Platforms in Kenya

In the following sections, we provide in-depth reviews of the best CFD trading platforms. Read on to discover key CFD broker metrics, including fees, markets, regulations, and minimum account balances.

1. Scope Markets – Overall Best CFD Broker in Kenya 

Look no further than Scope Markets when searching for the top CFD broker in Kenya. First and foremost, Scope Markets offers access to a huge selection of CFD instruments. This includes stocks from the global markets, such as Apple, Facebook, and Tesla. Looking to trade forex? Scope Markets supports dozens of majors, minors, and exotics.

The platform also supports commodities trading. This includes natural gas, crude oil, gold, and silver. Scope Markets is also popular for trading indices. This includes major markets like the S&P 500, Dow Jones, FTSE 100, and Euro Stoxx 50. It’s also possible to gain exposure to indices in Spain, Germany, France, and Japan.

Scope Markets review

Not only is Scope Markets the best choice for tradable assets but low fees too. All supported CFDs can be traded at 0% commission alongside tight spreads. For example, spreads on EUR/USD starts at 1.1 pips. That said, Scope Markets also offers a gold account with a variable pricing structure. This offers much lower spreads, starting at 0.2 pips on EUR/USD.

The gold account comes with a commission of $3.50 per slide, so will appeal to large-scale traders. Both account types come with huge leverage limits of up to 1:400, allowing you plenty of flexibility when it comes to making your traders.

When it comes to platforms, Scope Markets has designed its own trading suite. Scope Trader can be accessed via standard web browsers and comes packed with tools. This includes live heat maps, real-time pricing charts, technical indicators, and fundamental news. The main drawback with Scope Trader is that it has not been developed as a mobile app.

Scope Markets review

Nonetheless, Scope Markets also supports MT5. This third-party platform is accessible via browsers, desktop software, and an app for iOS and Android. Alternatively, traders might also consider Scope Copy. This is a copy trading feature that supports passive investing. Users will first need to choose a successful trader to copy and then select their trade size and risk settings.

After that, any positions entered by the chosen trader will be copied into the Scope Markets portfolio. The Scope Copy feature will appeal to beginners and those without the time to actively trade. CFDs. Another benefit of Scope Markets is that it supports short-selling. Simply select an asset that could decline in value and place an appropriate sell order.

Scope Markets review

Another reason why Scope Markets is the best CFD broker in Kenya is that it is regulated by the Capital Markets Authority. To get started with Scope Markets today, it takes just minutes to register an account. The minimum deposit is just $100, and multiple payment methods are supported. This includes mobile payments via M-PESA, as well as Visa and MasterCard. Scope Markets also supports Airtel Money, Equitel, Skrill, and Neteller.

Finally, Scope Markets is currently offering a generous welcome package for new customers. In a nutshell, new customers will get a 50% deposit bonus of up to $50,000. For every 0.125 round-turn lot traded, $0.50 of the bonus can be withdrawn. Other terms and conditions apply, so make sure to go through them before claiming the bonus.

CFD Assets Stocks, forex, commodities, indices
Number of CFDs  1,700+
Pricing System The silver account offers 0% commission on all markets. Gold account charges a $3.50 commission per slide but comes with much tighter spreads.
EUR/USD Spread From 0.2 pips
Spread for Amazon Stock Not stated
Min. Deposit
$100
Trading Platforms Scope Trader (Proprietary) and MT5.

Pros pros

  • More than 1,700+ commission-free markets
  • Trade stocks, indices, forex, and commodities
  • Supports mobile payments
  • Regulated by the Capital Markets Authority
  • Leverage of up to 1:400

Cons cons

  • Does not support cryptocurrencies

Trading carries risk.

2. Capital.com – Specialist CFD Broker Online With 0% Commission Markets  

Capital.com is also one of the best CFD brokers in Kenya. The platform supports thousands of markets, including stocks, ETFs, forex, commodities, and bonds. All markets at Capital.com can be traded at 0% commission. Spreads are tight, with EUR/USD averaging 0.6 pips.

Capital.com has its own web trading platform that can be accessed via standard browsers. It also has a native CFD trading app for iOS and Android. The minimum deposit is $20 when using a debit/credit card or a supported e-wallet. That said, at least $250 needs to be deposited when funding the account via bank wire.

Capital.com review

Capital.com offers plenty of research tools, including technical indicators and custom charts. It also publishes market insights and trading ideas. Capital.com also offers educational materials and regular podcasts. Capital.com is not regulated by the Capital Markets Authority. But it is licensed in other jurisdictions, including the UK’s Financial Conduct Authority.

CFD Assets Stocks, forex, commodities, indices, ETFs, cryptocurrencies
Number of CFDs  3,000+
Pricing System 0% commission on all markets
EUR/USD Spread 0.6 pips
Spread for Amazon Stock $0.45 per share
Min. Deposit
From $20
Trading Platforms Proprietary web trader and mobile app

Pros pros

  • More than 3,000+ commission-free assets
  • Minimum deposits start at $20
  • Leverage and short-selling are supported
  • Top-rated mobile app for iOS and Android

Cons cons

  • Not regulated by the Capital Markets Authority
  • Bank wires require a minimum deposit of $250

3. Libertex – Established CFD Broker With Leverage of up to 1:500 

Libertex is an established CFD broker that was launched over 25 years ago. It boasts over three million clients and supports traders from more than 120 countries, including Kenya. Libertex offers hundreds of CFD markets, covering forex, stocks, ETFs, indices, and commodities.

This is also one of the best CFD brokers for trading cryptocurrencies. Libertex supports dozens of cryptocurrency markets, including Bitcoin, Dogecoin, Shiba Inu, Filecoin, and Litecoin. What’s more, this CFD broker offers leverage of up to 1:100 when trading major cryptocurrency pairs like BTC/USD.

Libertex review

When it comes to fees, most CFD markets can be traded at 0% commission. Spreads are very competitive, with EUR/USD averaging just 0.4 pips. USD/CAD is even more competitive, averaging 0.3 pips. Finally, the minimum deposit at Libertex is $10, and debit/credit cards, e-wallets, and bank wires are accepted.

CFD Assets Stocks, forex, commodities, indices, ETFs, cryptocurrencies
Number of CFDs  250+
Pricing System 0% commission on most markets
EUR/USD Spread 0.4 pips
Spread for Amazon Stock $0.19 per share
Min. Deposit
From $10
Trading Platforms Proprietary web trader and mobile app. MT4 and MT5 are supported too

Pros pros

  • Launched more than 25 years ago
  • Most CFD markets are commission-free
  • Super-tight spreads on 0.4 pips on EUR/USD
  • Crypto leverage of up to 1:100

Cons cons

  • No copy trading tools

74.91% of retail investor accounts lose money when trading CFDs with this provider.

4. IG – Regulated CFD Broker With Over 18,000 Markets  

Founded in 1974, IG is a UK-based brokerage that accepts Kenyan traders. This CFD broker lists more than 18,000 markets across most asset classes. This includes thousands of stocks from more than a dozen global markets. In addition to stocks, IG also supports commodities, bonds, futures, options, and forex.

While stocks attract a commission, other supported markets do not. Stock trading commissions vary depending on the market. For instance, Hong Kong stocks can be traded at 0.18% per slide. While US stocks cost $0.02 per share traded. IG offers leverage on all supported markets, including up to 1:200 on major forex pairs.

IG review

The main drawbacks of IG are related to payments. First, debit/credit card payments require a minimum deposit of $250. What’s more, Visa and MasterCard deposits cost 1% and 0.5%, respectively. Bank wires have no minimum deposit, but fees may apply, depending on the institution.

CFD Assets Stocks, forex, commodities, indices, ETFs, cryptocurrencies, bonds, futures, options
Number of CFDs  18,000+
Pricing System 0% commission on all markets apart from stocks. Commission on stocks varies depending on the market.
EUR/USD Spread 0.6 pips
Spread for Amazon Stock Real market price plus a commission of $0.02 for each share traded
Min. Deposit
$250 on debit/credit cards. No minimum on bank wires.
Trading Platforms Proprietary web trader and mobile app. MT4 and ProRealTime are supported too

Pros pros

  • Founded in 1974
  • 18,000+ CFD markets
  • Non-stock markets can be traded at 0% commission
  • Leverage of up to 1:200

Cons cons

  • Debit/credit card fee of up to 1%
  • Minimum deposit of $250 when using a debit/credit card

5. Admirals – CFD Specialist Operating in Kenya With Seamless MetaTrader Integration, Low Spreads, & High Leverage

Admirals is a high leverage broker offering up to 1:500 depending on the product in question along with the total amount being traded. The trading name under which this broker operates in Kenya is known as Admirals KE Ltd, authorized by the Capital Markets Authority (CMA) in Kenya as a non-dealing online foreign exchange broker.

Aside from this, Admirals has 5 other major companies it uses to offer its services in various jurisdictions. These are Admiral Markets UK Ltd, Admiral Markets Cyprus Ltd, Admirals AU Pty Ltd, Admiral Markets AS Jordan Ltd, and Admirals SA (Pty) Ltd. At the present time, residents of Japan, Canada, and the USA cannot access this platform.

Over 8,000 instruments are offered with Admirals, with about 4,000 of these accessible as CFDs. When looking for a product, you can invest in it as a CFD or as an outright purchase. For example, you can purchase APPL stock as a CFD or as a share, both of which will allow you to earn dividends. CFDs will allow you a 1:20 leverage, however, while the share ownership (with no physical delivery) does not allow any leverage. 

The commission is $0.02 in both cases, but a spread applies to the CFD and not the share, while you can only go long the share. With the CFD, you can go short APPL. We think it’s a great idea to have the option to own/trade the same item as either a CFD or a traditional share. You can compare the costs for both options side by side.

However, MetaTrader is needed to execute both of these options. And there are different costs and fees depending on which account type you have, such as Trade.MT5, Invest.MT5, or Zero.MT5. An Invest.MT5 is needed to purchase the share while a Trade.MT5 account is needed to trade the CFD.

Admirals is a well-rounded CFD provider with a giant suite of offerings, a great TrustPilot rating, excellent levels of customer service, and low fees. It recently expanded to Kenya, a market that is mainly untapped by most other large name brokers. The minimum deposit is just $25 and the firm also provides fractional shares, islamic accounts, and bonds. Spreads are as low as 0.8 pips for major currency pairs and as low as 1.0 for popular indices.

CFD Assets Stocks, forex, commodities, indices, ETFs, bonds.
Number of CFDs  4,000+
Pricing System Low fixed cost spreads. Commission is generally $0.02.
EUR/USD Spread 0.8 pips
Spread for Amazon Stock 0.65 on AMZ CFD
Min. Deposit
$25
Trading Platforms MT4, MT5, MT Web

Pros pros

  • Over 8,000 instruments available
  • Regulated by the Capital Markets Authority
  • Leverage of up to 1:500
  • Low spreads of 0.8 and transparent fees
  • Excellent online reviews and high standard of customer care

Cons cons

  • Does not support cryptocurrencies
  • Not available to US, Canadian, or Japanese residents

74% of retail investor accounts lose money when trading CFDs with this provider.

6. AvaTrade – Zero-Commission Broker With Leverage of up to 1:400   

AvaTrade is a CFD broker that offers 0% commission on all supported markets. Traders in Kenya will have access to a wide scope of assets, including options, stocks, forex, commodities, and cryptocurrencies. Leverage of up to 1:400 is offered on major forex pairs and less on other markets.

AvaTrade review

The minimum deposit to get started with AvaTrade is $100. The broker supports multiple platforms, including MT4 and MT5. AvaTrade also offers a native web trading suite and a mobile app for iOS and Android. Crucially, AvaTrade is regulated in nine jurisdictions and has been operational since 2006.

CFD Assets Stocks, forex, commodities, indices, cryptocurrencies, ETFs, bonds, options
Number of CFDs  1,250
Pricing System 0% commission on all markets
EUR/USD Spread 0.9 pips
Spread for Amazon Stock 0.13%
Min. Deposit
$100
Trading Platforms Proprietary web trader and mobile app. MT4 and MT5 are supported too

Pros pros

  • Trade over 1,250 CFD markets at 0% commission
  • Regulated in nine jurisdictions
  • Multiple trading platforms supported
  • Account opening process takes just two minutes

Cons cons

  • Trading tools are more suitable for experienced traders
  • Limited fundamental research

7. FPMarkets – Trade Major Currency Pairs From 0.0 Pips

FPMarkets is one of the top CFD brokers or trading forex. Put simply, the broker offers raw spread accounts that offer ECN pricing. This means that major currency pairs, like EUR/USD, can be traded from 0.0 pips. This account type comes with a flat commission of $3 per traded lot. Alternatively, FPMarkets also offers standard accounts that come with commission-free trading.

FPMarkets review

The spreads on this account start from 1 pip. In addition to forex, FPMarkets supports plenty of other CFDs. This includes bonds, stocks, indices, ETFs, commodities, and cryptocurrencies. All markets can be traded with leverage. Major forex pairs come with leverage up to 1:400. The minimum deposit on both the standard and raw accounts is $100. Finally, FPMarkets supports MT4, MT5, and cTrader.

CFD Assets Stocks, forex, commodities, indices, cryptocurrencies, ETFs, bonds
Number of CFDs  10,000+
Pricing System Standard account offers 0% commission on all markets. Raw spread accounts offer ECN spreads with a $3 commission per slide.
EUR/USD Spread From 0.0 pips
Spread for Amazon Stock Not stated
Min. Deposit
$100
Trading Platforms MT4, MT5, and cTrader

Pros pros

  • More than 10,000 supported markets
  • One of the best options for raw spreads
  • Supports MT4, MT5, and cTrader
  • Leverage of up to 1:500

Cons cons

  • Does not clearly display stock trading spreads

8. Forex.com – 5,500 CFD Assets and Pricing Structures to Choose From

Forex.com is one of the top Kenyan brokers for trading currencies. Over 80 major, minor, and exotic pairs are supported at competitive fees. In fact, Forex.com offers three pricing plans to choose from. Beginners may prefer the commission-free account that comes with slightly wider spreads. While seasoned pros may opt for a direct market access account. This comes with 0.0 pip spreads alongside a competitive commission.

Forex.com review

Although Forex.com is popular for trading currencies, it supports 5,500 markets in total. This includes stocks, indices, cryptocurrencies, and commodities. When it comes to payments, Forex.com supports bank wires, Paypal, and debit/credit cards. There is no minimum deposit when making a bank wire. Other payment types have a minimum deposit of $100.

CFD Assets Stocks, forex, commodities, indices, cryptocurrencies
Number of CFDs  5,500+
Pricing System Depends on the chosen account. Standard account offers 0% commission trading. Direct market access account offers 0.0 pip trading with a small commission.
EUR/USD Spread From 0.0 pips
Spread for Amazon Stock $0.01 per share
Min. Deposit No minimum on bank wire deposits. Debit/credit cards and Paypal require a minimum of $100.
Trading Platforms Proprietary web trader and mobile app. MT4 and MT5 are supported too

Pros pros

  • One of the best brokers for trading forex CFDs
  • Three pricing structures to choose from
  • More than 5,500 CFDs supported
  • No minimum deposit on bank wire payments

Cons cons

  • Paypal and debit/credit card payments require $100 or more
  • KYC process can be long-winded

9. FxPro – Multi-Asset CFD Broker With High Leverage Limits

FxPro is a multi-asset CFD broker that supports forex, futures, cryptocurrencies, commodities, and stocks.  There are no trading commissions to pay here, and spreads are usually cost-effective. But this can vary depending on market conditions. For example, the spread on EUR/USD is currently 0.8 pips. But the spread on GBP/USD is 1.9 pips. FxPro is also popular for trading with leverage.

FxPro review

Major forex pairs can be traded with leverage of up to 1:200. We also like FxPro for its speedy execution times. The platform claims that most orders are filled in under 13ms. This top-rated CFD broker also offers deep liquidity. This reduces the risk of market slippage. FxPro has its own trading suite, available online or as an iOS/Android app. The platform also supports MT4, MT5, and cTrader.

CFD Assets Stocks, forex, commodities, indices, cryptocurrencies, futures
Number of CFDs  2,100+
Pricing System 0% commission on all markets
EUR/USD Spread Averages 0.8 pips
Spread for Amazon Stock $0.25 per share
Min. Deposit $100
Trading Platforms Proprietary web trader and mobile app. MT4, MT5, and cTrader are supported too

Pros pros

  • Wide range of markets – including cryptocurrencies and futures
  • Leverage of up to 1:200
  • 0% commission on all markets

Cons cons

  • Spreads can be volatile
  • Minimum deposit of $100

How We Select the Best Kenyan CFD Brokers

An increasing number of CFD brokers now accept Kenyan traders. Here’s what we looked for when ranking the Best CFD trading platforms for 2024:

  • Range of Markets: Leading CFD brokers support thousands of tradable instruments. At Scope Markets, for example, traders can access 1,700+ CFDs across stocks, forex, commodities, and indices.
  • Fees: The best CFD brokers in Kenya offer 0% commission trading with tight spreads. Some brokers also offer zero-spread accounts with a small commission per slide.
  • Tools and Analysis: We only consider CFD brokers that offer trading tools, such as custom charts and technical indicators. We also like the copy trading tool at Scope Markets. This enables Kenyans to day trade CFDs passively.
  • Minimum Deposit: The minimum deposit will vary wildly across Kenyan CFD brokers. At Scope Markets and IG, the minimum is $100 and $250 respectively. Some CFD brokers have no minimum deposit requirement at all.
  • Demo Account: Consider choosing a CFD broker that offers a free demo account. This should mirror live trading conditions and come pre-loaded with paper funds.
  • Mobile App: Looking to trade CFDs while on the move? The best CFD trading apps are compatible with iOS and Android smartphones. Make sure the app is user-friendly and that the in-built trading tools have been optimized for mobile usage.
  • Payment Methods: The best broker for CFDs support local payment methods. Scope Markets, for example, supports mobile payments like M-PESA.
  • Customer Service: Finally, we prefer CFD brokers with a 24/7 customer support team. This will ensure that account queries are resolved in real-time.

How do CFDs Work?

Contracts-for-differences, or CFDs are financial derivatives. This means that CFDs do not provide ownership of the underlying asset. Instead, CFDs track the real-time price of the asset being traded.

  • For example, suppose that Tesla stock is trading at $166.35 on the NASDAQ exchange.
  • When trading Tesla stock CFDs at an online broker, the price should also reflect $166.35.

This means that the trader can speculate on the future value of Tesla stock without owning any shares. The top CFD brokers also support other markets. This includes everything from forex and stocks to commodities and indices.

CFDs offer a lot of flexibility to traders. Not only can traders go long or short on the respective market but leverage is also available. For example, Scope Markets supports leverage of up to 1:500. What’s more, CFDs are a lot cheaper to trade than traditional assets.

Benefits of Trading CFDs

CFDs are increasingly becoming popular with traders in Kenya. Not only do CFDs support long and short positions, but leverage too. What’s more, CFDs provide access to markets that would otherwise be challenging to reach, such as commodities and foreign bonds.

Let’s explore some of the key benefits of trading CFDs:

  • Global Markets: CFDs offer seamless entry into the global; markets. Whether it’s commodities, forex, stocks, or bonds – CFDs cover most bases. These assets would otherwise be difficult to trade when taking the traditional route. This is especially the case with hard assets like gold, silver, and oil.
  • Long or Short: CFDs enable traders to go long or short on their preferred asset. This enables traders to speculate on both rising and falling prices.
  • Leverage: Most CFD brokers offer high leverage limits to traders in Kenya. As noted above, Scope Markets offers up to 1:500 when trading major forex pairs. This means that a $100 account balance can be amplified to $50,000 in trading capital.
  • Low Fees: CFDs simply reflect the real-time market price of an asset. This makes CFDs super cheap to trade. Not only in terms of commissions but tight spreads too.

What to Consider When Trading CFDs for Beginners

The key risk to remember with CFDs is that they are leveraged products. This means that both gains and losses are amplified. Leverage should be limited when CFD trading online as a novice.

CFDs come with many benefits, but the industry also presents a number of risks. First and foremost, CFDs require traders to speculate on whether they believe an asset will rise or fall in value. Too many incorrect speculations will invariably result in losses.

Moreover, the risk of loss is increased significantly when trading with leverage.

  • For example, suppose a trader enters a $500 CFD position with leverage of 1:100.
  • In this scenario, the trader is entering a position worth $50,000.
  • Meaning, they are only putting up a 1% margin.
  • If the value of the CFD position declines by 1%, the broker will likely liquidate it.
  • This means the broker will close the position and the trader will lose their $500 stake

In most cases, the CFD broker will send a ‘margin call‘ when the position is approaching liquidation. This will require the trader to add more funds into their margin account. If not, the trade is at risk of being liquidated.

Another consideration to make is overnight financing. As CFDs are leveraged products, they attract interest. This is charged for every day the CFD position remains open. Overnight financing can quickly add up, illustrating that CFDs are only suitable for short-term trading strategies.

Conclusion 

The best CFD brokers in Kenya have reviewed for 2024. Scope Markets is the overall market leader, offering Kenyans a safe and low-cost environment to trade online.

This top-rated CD broker is regulated by the Capital Markets Authority and offers 0% commission on all supported markets. Seasoned traders can also open a raw spread account, where major markets can be traded from 0.0 pips.

More than 1,700 CFDs are supported by Scope Markets, including stocks, forex, commodities, and indices. What’s more, leverage of up to 1:400 is available, and the minimum deposit is just $100.

Margined Forex and CFD products are high-risk investments, and losses may exceed initial deposits.

FAQs

What is the best CFD broker in Kenya?

Kane Pepi
Editor
Kane Pepi
Editor

Kane Pepi is an accomplished financial and cryptocurrency writer who has an extensive portfolio of over 2,000 articles, guides, and market insights. With his expertise in specialized subjects such as asset valuation and analysis, portfolio management, and financial crime prevention, Kane has built a reputation for providing clear explanations of complex financial topics. He holds a Bachelor's Degree in Finance and a Master's Degree in Financial Crime, and is currently pursuing his Doctorate degree, which focuses on investigating the complexities of money laundering in the cryptocurrency and blockchain technology sectors. Kane's wealth of knowledge and experience in the field make…