FXPesa Review

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Explore the world of online forex and CFD trading with FXPesa, an established broker operating in Kenya and various African countries. Committed to adhering to regulatory standards set by the Capital Markets Authority (CMA) of Kenya, FXPesa offers a diverse array of trading instruments, cutting-edge platforms, essential tools, educational resources, and a range of account options to cater to the unique preferences of traders. With a primary focus on transparency, security, and convenience, FXPesa ensures a trading experience marked by competitive fees, local payment solutions, and dedicated customer support. Join us as we delve into the intricacies of FXPesa, examining its regulation, platforms, educational offerings, available markets, account varieties, and funding options, allowing you to make an informed decision regarding its suitability as your trading partner.

Summary

FXPesa Review

FXPesa operates as an online trading platform accessible to retail traders in Kenya and several African countries. It’s backed by EGM Securities, the first non-dealing online forex broker licensed and regulated by the Capital Markets Authority (CMA) of Kenya. FXPesa provides access to various trading instruments, including 62 forex pairs and CFDs covering energies, metals, indices, and stocks. The platform offers two types of trading accounts, Executive and Premier, each with its associated costs and features.

To accommodate diverse payment preferences, FXPesa supports multiple methods, including credit cards, bank transfers, e-wallets, and mobile money transfers. The platform also offers customer support, educational resources, and networking opportunities for its clients. While FXPesa emphasizes transparency, security, and competitive fees, it’s essential for traders to assess whether it aligns with their specific trading needs and preferences.

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Regulation

FXPesa, the trading identity of EGM Securities Limited, marks a significant milestone as the inaugural non-dealing online forex broker to obtain licensing and regulation from the esteemed Capital Markets Authority (CMA) of Kenya. As the governmental watchdog entrusted with overseeing Kenya’s capital markets, the CMA’s vigilant oversight shapes FXPesa’s operational framework, grounded in strict adherence to its regulatory mandates.

In an earnest commitment to safeguarding client interests, FXPesa upholds the practice of segregating client funds within secure accounts held by reputable banks. Furthermore, the platform ensures the integrity of its transactions through collaboration with Equiti Capital UK Limited, an entity governed by the Financial Conduct Authority (FCA) of the United Kingdom.

While FXPesa aspires to furnish a transparent, secure, and convenient trading environment, we always encourage potential clients to conduct their due diligence and carefully evaluate whether it aligns with their specific trading needs and objectives. Please see a list of regulated brokers for some alternative options.

Platforms & Tools

FXPesa provides its clients with a choice of three trading platforms: MetaTrader 4, MetaTrader 5, and Equiti Trader. MetaTrader 4 and MetaTrader 5 are well-known platforms suitable for forex and CFD trading across various instruments, including indices, commodities, shares, and ETFs.

MT4 & MT5 Platforms

These platforms offer useful features such as signal centers, risk tools, market analysis, trading robots, strategy testers, and economic calendars. MetaTrader 5 includes additional functionalities like enhanced market depth, partial order filling, trading scripts, and a marketplace.

Equiti Trader is a mobile trading platform designed for FXPesa, offering traders the flexibility to trade on mobile devices. It includes interactive TradingView charts, a transparent activity log, a full economic calendar, and complimentary risk and analytical tools.

Equiti Trader

All these platforms are accessible through iOS and Android downloads and web browsers. FXPesa also provides convenience through instant notifications, in-app support, and localized customer service. It’s important for traders to explore these options to see if they align with their specific trading preferences.

Education

FXPesa extends a comprehensive set of educational resources through the FXPesa Academy, aimed at bolstering its clients’ financial knowledge and trading skills. FXPesa’s Educational Offerings through the FXPesa Academy:

• Webinars: FXPesa’s clients benefit from a robust webinar schedule, featuring twice-daily sessions. These webinars are designed to impart essential knowledge about market analysis and the effective use of key risk management tools. They serve as valuable resources for traders looking to enhance their skills and understanding of the financial markets.
• Seminars: The FXPesa Academy hosts face-to-face seminars that cover a wide range of topics, including product insights, tools, and top trading tips. These sessions provide traders with in-depth knowledge and practical strategies, making them suitable for those who prefer a more interactive and comprehensive learning experience.
• Networking Events: FXPesa facilitates networking events across various locations in East Africa, providing traders with opportunities to engage with peers and industry professionals. These events foster valuable connections and the exchange of insights within the trading community.
• Online Trading Courses: The academy offers a structured curriculum comprising three proficiency levels: beginner, intermediate, and advanced. These online trading courses aim to equip traders with a comprehensive understanding of online trading practices, ensuring that they have the knowledge and skills required for success in the financial markets.
• Abundant Learning Resources: FXPesa further bolsters its educational arsenal with thousands of YouTube videos and eLearning resources. These materials allow traders to tailor their learning experience to their own pace and preferences, making it easier for them to acquire and apply new skills.
• Experienced Trainers: Clients benefit from the guidance of real online trading experts who share their proven strategies and market insights. This hands-on approach enhances the learning experience, offering valuable practical knowledge to traders.
• Support: For any questions or issues that may arise during the learning process, FXPesa provides local support and in-app assistance. This ensures that clients have access to timely and relevant support throughout their educational journey.

Markets

FXPesa provides its clients with a broad spectrum of trading instruments that encompass various asset classes, offering diversity and flexibility in their trading endeavors. These instruments span across forex, indices, commodities, shares, and ETFs, granting traders access to a multitude of opportunities within the world’s largest financial exchanges, including NYSE, NASDAQ, LSE, and more. In striving to meet traders’ preferences, FXPesa offers competitive spreads and leverage tailored to each instrument’s unique characteristics. Additionally, the platform extends valuable support through complimentary market analysis and trading signals, empowering traders with insights to make informed decisions.

For forex enthusiasts, FXPesa offers the ability to trade on 62 global currency pairs, including popular ones like EUR/USD, GBP/USD, and USD/JPY. Likewise, traders seeking exposure to global markets can access 15 major indices, such as US30, UK100, and GER30. Commodity traders can choose from 9 well-known commodities, including gold, silver, and oil. Furthermore, FXPesa accommodates the trading of over 120 US shares, featuring companies like Apple, Amazon, and Tesla, along with a selection of 20+ Exchange Traded Funds (ETFs), including SPY, QQQ, and GLD. FXPesa’s comprehensive range of trading instruments offers traders the opportunity to diversify their portfolios and explore various financial markets, catering to their individual investment preferences.

Accounts

FXPesa provides a range of live trading accounts, catering to different trader preferences and experience levels. Here’s a breakdown of these accounts:

1. Executive Account: Designed with new to intermediate traders in mind, the Executive account offers a commission-free structure with spreads starting at 1.4 pips. It requires a minimum deposit of $5 and grants access to a diverse selection of trading instruments, including forex, commodities, indices, shares, and ETFs. Traders can utilize powerful trading platforms like MetaTrader 4, MetaTrader 5, and Equiti Trader. Additionally, this account can be tailored to individual preferences, offering both swap-enabled and swap-free options. It’s available in both USD and KES currencies and supports various payment methods, including credit cards, bank transfers, e-wallets, and mobile money transfers.
2. Premiere Account: Geared towards intermediate to advanced traders, the Premiere account boasts competitive spreads starting from 0.0 pips. It involves a commission of $7 per lot ($3.5 per turn) and requires a minimum deposit of $100. This account mirrors the Executive account’s access to a wide range of trading instruments and powerful trading platforms, such as MetaTrader 4, MetaTrader 5, and Equiti Trader. Similar to the Executive account, it offers the flexibility of being either swap-enabled or swap-free. The Premiere account is available in both USD and KES currencies and accommodates multiple payment methods, including credit cards, bank transfers, e-wallets, and mobile money transfers.

Additionally, for traders looking to hone their skills without risk, FXPesa provides a risk-free demo account equipped with $10,000 in virtual funds, allowing traders to practice before venturing into live trading.

Funding

FXPesa offers a range of funding options to facilitate clients’ deposits and withdrawals from their trading accounts. These options encompass various payment methods, including credit cards, bank transfers, e-wallets, and mobile money transfers. Importantly, FXPesa itself refrains from imposing any fees on deposits and withdrawals; however, clients should be mindful that their chosen payment providers may apply their own charges.

Security and efficiency are core principles in managing clients’ funds. FXPesa prioritizes the safety of clients’ assets and strives for quick processing, ensuring that most payment methods facilitate instant deposits and withdrawals. FXPesa also accommodates multiple currencies, including USD, KES, TZS, and UGX, depending on the payment method and account type. This flexibility caters to the diverse needs of its clientele, allowing them to choose the currency that aligns with their trading preferences and requirements.

Conclusion

In summary, FXPesa presents a range of trading services and features that can appeal to traders of varying experience levels. It provides a platform for traders to engage in forex and CFD trading across multiple asset classes. Moreover, FXPesa’s dedication to client education and accessible funding options further enhances the trading experience. However, it’s worth noting that while FXPesa offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading broker reviews.

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FXPesa is an online forex and CFD broker that operates in Kenya and other African countries. It offers a range of trading instruments, platforms, tools, education, and account types to suit different traders’ needs and preferences.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

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