FP Markets Review

FP Markets is fully regulated by the CMA in Kenya

While scouring the interwebs for the best forex brokers for Kenyan traders, I stumbled upon a hidden gem that surprisingly doesn’t get much attention: FP Markets

And let me tell ya folks, this unassuming forex broker packs quite the punch.

With over 16 years of experience, FP Markets brings a wealth of expertise to the table. But more importantly for you Kenyan traders, they check all the right boxes.

First off, FP Markets has been in the game since 2005 and has built a reputation for being a trustworthy forex broker. They’re not just any run-of-the-mill broker; they’re regulated by some top-tier authorities like ASIC and CySEC, which means they’re serious about doing things by the book.

But that’s not all. FP Markets is now fully licensed and regulated by the Capital Markets Authority of Kenya. This move not only strengthens FP Markets’ regulatory footprint in Africa but also reinforces its position as a truly global online Forex and CFDs broker. 

This development is a significant milestone for Kenyan traders, and it’s likely to bring about some exciting changes. One of these potential changes is the integration of M-Pesa, Kenya’s widely adopted mobile money transfer platform, for deposits and withdrawals

This gives me great confidence in their safety and security protocols. 

FP Markets also offers a wide variety of trading platforms to suit any trader’s needs – from the popular MetaTrader 4 to their fast and innovative Iress platform. And with tight spreads from just 0 pips, combined with fast execution speeds, you can be sure you’re getting highly competitive pricing. 

Now I know you Kenyans prefer having local payment options. Well good news, because FP Markets accepts M-Pesa deposits and withdrawals! No need to hassle with foreign bank wires. 

And the minimum deposit is only $100 – perfect for my Kenyan friends looking to start small. And if that wasn’t enough, they also provide top-notch customer support available 24/5. Their team is friendly, knowledgeable and quick to respond.

But don’t just take my word for it. FP Markets has accumulated over 3000 reviews on Trustpilot, with a staggering 92% of the reviews rating it as excellent. That’s a testament to the first-class customer support experience it provides to its traders

Benefits of Using FP Markets for Forex Trading in Kenya

FP Markets offers several benefits for forex trading in Kenya. Here are some of the key advantages: 

  1. Wide Range of Trading Instruments: FP Markets provides access to over 10,000 trading instruments, including 60+ forex currency pairs, stocks on global exchanges, major global indices, commodities, bonds, metals, and digital currencies. 
  2. Advanced Trading Platforms: FP Markets offers a variety of advanced trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), Iress, Webtrader, and a Mobile App. These platforms are known for their advanced charting tools, numerous technical indicators, real-time price charts, market news and insights, and a suite of automated trading options.
  3. Excellent Customer Service: FP Markets is known for its first-class customer support experience, which is available 24/7. They offer personalized, proactive, and instant support to traders on the channel of their choice via phone, chat, or email.
  4. Highly Rated: FP Markets has received excellent reviews from its users, with 92% of the reviews on Trustpilot rating the broker as excellent. This high rating indicates a high level of customer satisfaction.
  5. Regulated and Trustworthy: FP Markets is regulated by several top-tier financial authorities, including the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Capital Markets Authority (CMA) in Kenya. This regulation ensures that FP Markets adheres to strict standards of operation, providing traders with a secure and trustworthy platform for their trading activities.
  6. Competitive Trading Conditions: FP Markets offers tight spreads, ensuring minimal slippage, and ultra-fast execution. This ensures traders can enter and exit trades efficiently, maximizing their potential profits.
  7. Educational Resources: FP Markets provides a wealth of educational resources for traders. This includes platform guides, trading guides, and a demo account for testing strategies and getting familiar with the market.
  8. Flexible Funding Methods: FP Markets supports a wide range of funding methods, making it easy for traders to deposit and withdraw funds from their trading account.

FP Markets Safety and Regulation for Kenyans

FP Markets Kenya Review

As a Kenyan trader, you’re likely aware of the importance of choosing a forex broker that is not only reliable but also well-regulated. This is where FP Markets stands out, especially with its recent regulatory advancements in Kenya.

FP Markets is fully licensed and regulated by the Capital Markets Authority (CMA) of Kenya. This license is a testament to FP Markets’ commitment to adhering to the stringent regulatory standards set by the CMA, ensuring the safety and protection of Kenyan traders.

The CMA license adds to FP Markets’ impressive regulatory portfolio, which includes authorizations from the Australian Securities and Investments Commission (ASIC), the Financial Sector Conduct Authority (FSCA) of South Africa, the Financial Services Commission (FSC) of Mauritius, the Cyprus Securities and Exchange Commission (CySEC), and the Securities Commission of the Bahamas (SCB). This extensive regulatory presence further reinforces FP Markets’ credibility and commitment to providing a safe and regulated trading environment.

Safety Measures

FP Markets ensures the safety of its clients’ funds by adhering to strict regulatory standards. One such measure is the segregation of client funds, which means that the clients’ money is kept separate from the company’s operational funds. This ensures that in the unlikely event of the company’s insolvency, the clients’ funds will not be used to pay off the company’s debts. 

Another safety measure is the provision of negative balance protection. This feature limits a retail client’s CFD losses to the funds in their CFD trading account, protecting them against negative account balances. This means that you, as a trader, will never lose more money than you have deposited into your account.

Investor Protection

When it comes to your funds’ safety, regulated forex brokers like FP Markets take great measures to protect client funds. Although investor protection schemes vary by region, FP Markets operates in countries with established investor protection schemes.

For instance, within the EU, clients are protected up to €20,000 by CySEC. However, it’s important to note that not all entities offer the same level of protection, and as of the latest information, there is no specific investor protection amount listed for Kenyan clients.

Commitment to Fair Trading

FP Markets emphasizes the importance of maintaining fair, orderly, and transparent markets. This commitment is crucial in ensuring that your trading activities are conducted in a well-regulated environment, minimizing the risks of market manipulation and unfair practices.

If you’re new to the world of forex trading in Kenya, you might be wondering what it means for a market to be fair, orderly, and transparent. These are not just buzzwords; they are the pillars of a trustworthy trading environment.

  • A fair market is one where all participants have equal access to information and the opportunity to trade. FP Markets ensures fairness by adhering to legal obligations that mandate the integrity of the underlying markets. This means that whether you’re a seasoned trader or just starting out, you have the same information and trading opportunities as everyone else.
  • An orderly market is one that functions smoothly, even during times of high volatility or economic stress. FP Markets contributes to orderly markets by providing forex trading platforms that facilitate efficient trading. They offer advanced technology that helps to maintain stability in the trading environment, ensuring that trades are executed promptly and accurately.
  • Transparency in trading means that you can see and understand all aspects of the trading process, from how prices are formed to how trades are executed. FP Markets’ commitment to transparency is evident in their operations. They have been recognized for their transparent practices, such as providing detailed information about transactions and allowing traders to view their trading data. This level of openness helps you to make informed decisions about your trades.
FP Markets is fully regulated by the CMA in Kenya

FP Markets Trading Platforms

When it comes to online trading, the platform you choose can make a significant difference in your trading experience.

FP Markets, a well-regarded brokerage firm, understands this and offers a suite of trading platforms tailored to meet the diverse needs of Kenyan traders. Whether you’re a fan of the popular MetaTrader platforms, prefer the advanced features of the cTrader platform, or enjoy the convenience of mobile trading, FP Markets has got you covered.

MetaTrader 4 (MT4)

First on the list is the renowned MetaTrader 4 platform. FP Markets brings this industry-standard platform to your fingertips, offering a user-friendly interface that is ideal for both beginner and experienced forex traders in Kenya.

With MT4, you can enjoy real-time pricing, in-depth market analysis, and automated trading through Expert Advisors (EAs). The platform’s charting tools are second to none, providing you with a plethora of indicators and graphical objects to help you make informed trading decisions.

MetaTrader 5 (MT5)

For those looking for a more advanced trading experience, FP Markets also offers MetaTrader 5. MT5 is the successor to MT4 and comes with additional features such as more timeframes, more indicators, an economic calendar, and improved charting tools.

MT5 also supports trading in stocks, commodities, and indices, in addition to forex. This makes it a versatile choice if you’re looking to diversify your trading portfolio.

With MT4 and MT5, you can trade over 60 currency pairs, 650+ stocks on global exchanges, major and non-major global indices, commodities like coffee, natural gas, corn, and more. You also have access to trade cryptocurrencies like Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin.

FP Markets Mobile Trading App

In today’s fast-paced world, being able to trade on the go is crucial. FP Markets has you covered with mobile versions of MT4, MT5, and cTrader. These apps allow you to manage your trades, monitor the markets, and perform technical analysis directly from your smartphone or tablet. The convenience of mobile trading means you never have to miss a trading opportunity, no matter where you are.

The mobile app allows you to trade forex and CFDs across shares, indices, commodities, and cryptocurrencies. It’s a feature-packed platform that puts you in control of your trading experience, allowing you to access top-tier liquidity with real-time pricing, conduct research and analysis using a range of trading tools, and log in to your MetaTrader 4 account using the same credentials.

Social Trading

FP Markets also offers social trading or copy trading. This feature is compatible with MetaTrader 4, allowing you to copy the trades of successful traders.

FP Markets Account Types for Kenyan Traders

When signing up with FP Markets as a Kenyan trader, you have a choice between several account types tailored to your trading needs and experience level. 

FP Markets offers Standard accounts and Raw Spread accounts. 

The Standard account is suitable for beginner traders, with average spreads from 1.0 pips and commission-free trading on forex and metals. This account allows you to trade in smaller position sizes with increased leverage up to 1:400. It is an accessible account to get started with FP Markets if you are just entering the world of forex trading. 

The Standard Account also offers a demo option, which is  a great way to learn forex trading basics such as base currency, FX pairs, charting tools, and volatility.

For more advanced traders seeking tighter spreads, the Raw Spread account offers raw spreads from 0.0 pips by passing on the spreads FP Markets receives from its liquidity providers. This account type has a commission charge per lot traded but enables you to benefit from institutional-grade spreads. Raw Spreads are ideal if you trade short-term or scalp the markets.

Islamic Account

FP Markets also offers an Islamic Forex Account, which is designed for traders who cannot pay or receive swaps or rollover interest due to religious beliefs. This account type provides swap-free trading, ensuring compliance with Islamic finance principles.

Also Read: Best Forex Trading Apps in Kenya

FP Markets Trading Assets

What you can trade with FP Markets in Kenya

FP Markets is not just about forex trading. Yes, they offer over 60 forex currency pairs on the popular MT4 platform, but that’s just the tip of the iceberg. 

If you’re a fan of the stock market, you’ll be thrilled to know that FP Markets provides access to more than 10,000 stocks on global exchanges. That’s a vast playground for any trader! 

But wait, there’s more! FP Markets also offers 19 major global indices. Whether you’re interested in the Dow Jones, FTSE, or Nikkei, FP Markets has got you covered. 

Commodities? Yes, they have those too. From coffee to natural gas, corn, and more, FP Markets offers a wide range of commodities for trading. 

And let’s not forget about bonds. With FP Markets, you can trade US10YR & UK Long Gilt Futures GILT .

For the fans of precious metals, FP Markets offers trading in gold, oil, silver, and more. And if you’re into the digital currency space, you’ll be pleased to know that FP Markets offers trading in popular cryptocurrencies like Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin.

In total, FP Markets offers over 10,000 CFD instruments across forex, shares, indices, commodities, bonds and cryptocurrencies. This diverse range of trading instruments provides Kenyan traders with the opportunity to engage in various markets.

FP Markets Educational Resources Review

First off, FP Markets Academy is a unique education project designed to enhance your trading knowledge and skills. It’s like a university for traders, offering a range of courses that cater to different skill levels. 

From understanding the basics of forex trading to learning advanced strategies , these courses are designed to equip you with the knowledge you need to navigate the forex market confidently. 

But the learning doesn’t stop there. FP Markets also offers a series of trading guides. These guides are like your personal trading coach, providing expert insights to enhance your trading strategies and techniques. They cover a wide range of topics, from building a winning forex trading plan to understanding fundamental analysis in the forex market. 

And if you’re a fan of learning by doing, FP Markets offers demo accounts where you can practice your trading strategies without risking real money. It’s a safe and practical way to apply what you’ve learned from the courses and guides. 

FP Markets also hosts webinars that cover a wide range of topics. These webinars are hosted by industry experts, providing you with the opportunity to learn from the best in the business. They cover a wide range of topics that can be useful for traders of all skill levels. 

In addition to all these, FP Markets provides daily market reports. These comprehensive reports feature expert analysis on all major currencies, giving you a daily dose of valuable market insights. 

Finally, FP Markets offers a suite of analytical tools, including an in-depth Economic Calendar, Market Buzz (News Analytics and Sentiment Research), and Technical Analysis tools. These tools can help you make informed trading decisions based on the latest market trends and data.

FP Markets is fully regulated by the CMA in Kenya
FP Markets Kenya Review
Bottomline
FP Markets stands out as a reliable and trustworthy forex broker for Kenyan traders. With a history spanning nearly two decades, FP Markets has established itself as a reputable player in the forex market, offering a diverse range of trading platforms and instruments.
Regulation and Security
Mobile Trading
Spreads & Fees
Platform Features
Deposits & Withdrawals
FP Markets Pros
More than 10,000 trading instruments
Advanced trading platforms including MT4, MT5, and Iress
Fully Regulated by the Capital Markets Authority
Tight spreads, rapid execution, and deep liquidity
FP Markets Cons
No Bonuses and Promotions for Kenyans
4.7
Editor Rating
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Regulation and Security
Mobile Trading
Spreads & Fees
Platform Features
Deposits & Withdrawals
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