Is exness a good broker: Trusted market access for local traders

Online trading in Kenya has experienced remarkable growth, positioning the country as the third-largest retail forex trading market in Africa, by volume. This dynamic environment, fueled by an emerging and tech-savvy demographic, increasing internet speeds, and widespread mobile adoption, highlights the significant potential for local traders.

This article aims to give a clear and in-depth review to determine whether the company is a good broker based on its regulatory standing, user experience, transparency, and reliability.

Exness Kenya: A detailed review

Below are some of the key reasons why you may prefer us when trading the global markets.

Regulatory compliance and investor protection: The foundation of trust

For starters, Exness (KE) Limited is formally authorized by the Capital Markets Authority (CMA) as a Non-dealing Online Foreign Exchange Broker, operating under license number 162. This local license is a cornerstone of trust, confirming our adherence to Kenya's financial regulations, including stringent requirements for capital adequacy, client-fund segregation, and dispute resolution. You can verify a broker's licensing status directly on the CMA's official website via the "List of Licensees". 

Exness (KE) Limited also maintains a registered office in Kenya, demonstrating a tangible, long-term commitment to the local market. This local presence reinforces the reputation as a good broker — making Exness Broker services a trusted choice for local traders.

Safeguarding client funds: Prioritizing your capital

We prioritize client fund safety through segregated accounts, negative balance protection¹, and advanced security protocols. Client funds are held in segregated accounts, separate from company funds, in multiple tier-1 banks, ensuring protection from broker insolvency. We also maintain our own funds in excess of its total client funds to ensure liquidity. This commitment to fund security is also a key reason why Exness is a good broker option.

Negative balance protection across all account types guarantees that traders cannot lose more than their deposited equity. 

For further peace of mind, we adhere to comprehensive security measures, including PCI DSS Compliance, a Web Application Firewall (WAF), and DDoS Protection. All communications are encrypted, and 3D Secure verification is provided for card transactions.

Exness is a member of the Financial Commission, an independent external dispute resolution (EDR) organization with a compensation fund covering judgments up to 20,000 EUR per client. The company also undergoes periodic financial audits conducted by respected independent professional services firms, demonstrating transparency and reliability. These robust measures position Exness’ broker conditions as a leader in client protection. 

User experience

A superior user experience, especially with localized services, is so important. This section highlights why Exness is a good broker from the user's perspective.

Simple account registration and verification

Opening a trading account is straightforward: visit the registration page, select Kenya, enter your email address, and create a password. Account verification requires identification documents like a national ID or passport, while automated KYC checks are often completed within minutes. This efficient onboarding process reduces barriers to entry for new online traders. The ease of getting started is another factor that makes the onboarding process seamless.

Localized payment solutions

One of the most compelling features is its deep integration with local payment solutions, notably M-PESA, Kenya's leading mobile money platform. This allows instant and fee-free deposits and withdrawals, making trading accessible to a broader population, including those without traditional bank accounts.

Other methods include Airtel Money, Bank Transfers, Visa/Mastercard, Neteller, and Skril. We also boast fast withdrawals and often cover third-party transaction fees for withdrawals.

Minimum deposits for Standard accounts start from 1,300 KES or +/-10 USD, depending on current exchange rates and your preferred payment method.

Fast fee-free withdrawals (on our side) aim to provide customer satisfaction and demonstrate how our services are attractive for local convenience, a hallmark of the trading experience.  

Dedicated support and educational resources

We offer 24/7 customer support via live chat, email, and phone in English and 15 other languages. Multi-language support is a key differentiator for Exness Kenya traders. Additionally, we provide extensive educational materials, including webinars, tutorials, market analysis, and a risk-free demo trading account, which mimics real market conditions using virtual funds.

These resources further support the claim that Exness is a good broker for trader development, a key focus for any savvy trader.

Trading conditions: Pricing, platforms, and performance

Competitive pricing, robust platforms, and reliable performance are critical factors for any online trading. This section delves into why Exness is a good broker in terms of trading conditions.

Transparent and competitive pricing

We offer various account types: Standard accounts for new traders and Professional accounts for those who are already at the next level:

• Standard and Standard Cent accounts have low minimum deposits starting from 1300 KES or 10 USD–depending on current exchange rates. These are commission-free with spreads from 0.2-0.3 pips.
• Professional accounts (Pro, Zero, Raw Spread) require higher minimum deposits, starting at 65,000 KES, but offer tighter spreads, from as low as 0.0 to 0.1 pips. Commission structures vary: Pro accounts are commission-free, while Zero and Raw Spread accounts charge a commission.

As is the case for most online brokers, spreads are dynamic, meaning they can fluctuate and widen during periods of low liquidity or high-impact news events. Unique and sophisticated algorithms allow some of the most stable spreads in the industry—a source of pride for the technical teams that made it possible.

We also offer swap-free accounts in Islamic countries and for most forex pairs, commodities such as gold, and indices. Traders can learn more about swap-free conditions after registering. We do not charge management fees either. This tiered structure makes Exness a good broker, from beginners to professionals.

Flexible leverage and prudent risk management

We offer high leverage options, up to 1:400, meaning traders with modest equity can hold sizable market positions. While leverage can amplify profits, it can also accelerate losses, so we offer special features such as Stop Out Protection, which delays or avoids forced position closures.

In addition, our Negative Balance Protection ensures that traders never fall into a debt deficit, giving peace of mind that their total risk is limited to what they choose to deposit. This perfectly demonstrates our responsible approach to risk management.

These features are vital when offering online trading in Kenya, once again reinforcing why Exness is a good broker for managing risk, a crucial aspect for any responsible broker.

Advanced and reliable trading platforms

We provide access to the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, its proprietary Exness Terminal (web browser-based), and the Trade App (mobile).

These platforms are accessible across web, iOS, and Android, and offer slight variations in functionality and features. For example, traders using MT4 have access to several analytical tools and Expert Advisor (EA) trading bot functionality. MT5 expands on MT4’s capabilities by introducing features aimed at more advanced traders. Opting for the Exness Terminal or Trade app can also offer platform-specific features, including TradingView charts. In addition to TradingView, the app also provides fully functional mobile trading on the go.

All platforms boast fast execution speeds² (orders processed in milliseconds) and high reliability. VPS Hosting is also available for automated strategies. The reliability and versatility of these platforms are strong indicators that Exness is a good broker, offering a superior trading experience through the trading platforms.

A diverse range of tradable instruments

We offer a comprehensive selection of over 200 tradable instruments, allowing you to diversify portfolios and capitalize on various market opportunities. Available instruments include:  

• Forex pairs: 99 options including major, minor, and exotic currency pairs.  
• Commodities: Precious metals (gold, silver, and several others) and energies (oil).  
• Indices: Major global stock market indices.
• Stocks: Trading the major international company price shifts.

This extensive range provides Exness traders ample opportunity for portfolio diversification while highlighting Exness' broker assets and strengthening the view that Exness is a good broker.

Growth and demographics

The retail multi-asset CFD trading sector in Kenya has grown substantially, positioning the country as the third-largest in Africa. This growth is fueled by a young population, increased internet access, and high mobile phone penetration. The trading community in Kenya grew by an estimated 80% in 2020. This significant growth indicates a maturing market with increasing participation, global awareness, and entrepreneurial interests on the rise.

Conclusion: Is Exness a good broker?

This comprehensive review showcases industry leadership in the financial world, confirming that Exness is indeed a good broker. The company’s commitment to regulatory compliance is clearly evident through its Capital Markets Authority license and its physical presence in Nairobi, providing local trust and accountability.

Notably, Exness Kenya's client experience is user-friendly. This is highlighted by the seamless integration of M-PESA for instant, fee-free deposits and withdrawals, a convenience that significantly lowers barriers to entry and promotes financial inclusion for local traders.

Note:

¹ Trading is risky. T&Cs apply

² Delays and slippage may occur. No guarantee of execution speed or precision is provided.

This is not investment advice. Past performance is not an indication of future results. Your capital is at risk, please trade responsibly.

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Author:

Paul Reid

Paul Reid is a financial journalist dedicated to uncovering hidden fundamental connections that can give traders an advantage. Focusing primarily on the stock market, Paul's instincts for identifying major company shifts is well established from following the financial markets for over a decade.