Kenya CMA Regulated Forex Broker License
Applying For a Forex License in Kenya – Key Takeaways
- Kenya is one of a few select African countries that offers a regulatory framework for FX & CFDs
- 3 license types: money management, STP, and market making
- License issued by the Capital Markets Authority of Kenya (CMA)
- Brokers must maintain paid up capital as well as unimpaired capital
- License approval period 6 – 8 months
Obtaining a Forex Broker License in Kenya – How Does It Work?
- To start the process, our team will need to gather some basic documentation related to your brokerage.
- Upon receiving all required documents, the first step in the process is selecting a business name and incorporating the entity in Kenya.
- After successful company registration, we’ll then proceed with the license application.
- During the license application process we’ll communicate with you regarding updates and any additional items that may be required.
- Upon successful approval of the license, we’ll then assist in establishing a bank account.
Important Facts Related to a Forex Broker License in Kenya
- Capital requirements for non-dealing foreign exchange brokers is set at 30 million Kenya shillings
- An executive director with a solid background in financial markets is a strict requirement
- The Kenya CMA mandates that all licensed FX brokerages maintain a local office in Kenya
- The estimated time to obtain the license is 6 – 8 months
- All business in Kenya is conducted in the local currency, the Kenya Shilling
Why Obtain a Forex License in Kenya?
Atomiq Consulting – Your Forex Broker Licensing Partner
Because the regulatory framework for FX broker licensing in Kenya is relatively new, it’s crucial to partner with a consulting agency that not only has a strong local presence but also extensive knowledge of the foreign exchange industry. Having successfully helped our clients receive licenses in a variety of global jurisdictions, Atomiq Consulting is the ideal partner to assist your broker with a obtaining forex license in Kenya.
How to Get a Forex License in Kenya? Contact Atomiq Consulting for a Free Quote Today!
A forex broker license in Kenya opens the doors to Africa and beyond. To learn more about the license application process, discuss fees, and ask any questions pertaining to a forex broker license in Kenya, don’t hesitate to contact us today!
Kenya CMA Forex Broker License FAQ
Are there any forex brokers in Kenya currently for sale?
Because Kenya is a relatively new jurisdiction for online forex trading, it would be difficult to find any brokers currently for sale. If your brokerage is interested in establishing a presence in Kenya, our advice at this stage would be to apply for a license. Should your broker have interest in other jurisdictions, then we can gladly assist you in acquiring a fully licensed forex brokerage license in a variety of global jurisdictions. Because our offers vary based on availability in the market, it is best to contact us directly to evaluate what we currently have for sale.
Does Atomiq Consulting provide assistance with obtaining a bank account in Kenya?
Yes, as part of our consultation services we will help your newly licensed broker obtain a bank account in Kenya.
What is the regulatory body which oversees forex trading in Kenya?
The Kenya CMA (Capital Markets Authority) is the regulatory body which regulates financial activity in Kenya.
Is Atomiq Consulting able to help newly licensed brokers locate an office in Kenya?
Yes, we are able to help your brokerage locate an office space in Kenya and find staff members to manage it.
Which forex license jurisdictions are similar to Kenya?
Brokers considering licensing options in Africa may also be interested in applying for a South African forex license. An additional consideration would be a forex broker license in Mauritius.
Under what law or guidelines is forex regulated in Kenya?
Forex regulation in Kenya falls under the Capital Markets (Online Foreign Exchange Trading) Regulations, 2017.
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