EGM Securities

Introduction

EGM Securities is a leader in the Kenyan financial services industry, offering a range of trading options for both individual and corporate clients. Their reputation is based on their commitment to transparency, use of cutting-edge technology, and customer satisfaction. This article will provide details regarding EGM Securities' background, main product/service offerings, compliance with regulatory requirements, trading conditions, fees, and user experiences for potential clients and investors.

Company Overview & History

EGM Securities Ltd is unique in that it is the first non-dealing online forex broker to be licensed by the CMA in Kenya. The CMA granted it this license in 2018.

This represented a major milestone for EGM Securities and the entire financial service sector in Kenya. EGM Securities has built a solid business model by providing a local option for traders to access global financial markets,There is no publicly released comprehensive information on the founders of EGM Securities, but we do know this company is part of a much larger group of companies controlled by the Equiti/Divisa Group that has been around since 2008, when it began by way of an acquisition and rebranding process, and continues to be one of the largest online brokerage firms in Kenya at the present time.

While the company does not currently have a complete physical mailing address listed in any public sources, it does provide several means for residents of Kenya to contact EGM Securities via local phone numbers and a freecall line.

Trading Products

EGM Securities offers over 2,000 trading instruments for traders to choose from. Some of the different categories include:

- Currency trading (Forex),
- Commodities,
- Stocks (shares),
- Indices, and
- Exchange-Traded Funds (ETFs).

With this wide range of trading options, traders can also diversify their portfolios across multiple categories of instruments, all available on one trading platform.

Trading Platforms

To facilitate efficient and easy trading, EGM Securities has partnered with some of the most reputable platforms currently used, including:

- MetaTrader 4 (MT4), which is simple to use and has an extremely robust charting program,
- MetaTrader 5 (MT5), which has a lot more functionality than MT4 and offers more asset classes to trade on the same platform,
- Equiti Trader Mobile application, which is an in-house mobile app created by EGM Securities to allow their clients to trade on the go and access every aspect of their accounts remotely.

Types of Accounts and Services

As one of the leading brokers for trading forex, EGM Securities values the provision of service for many different types of clients, and they offer a variety of accounts based on the type of client, including:

- Individual accounts,
- Corporate accounts, and
- Institutional accounts.

As a non-dealing online forex broker, EGM Securities is very transparent with its clients and provides direct market access, as it believes in offering the fairest and most regulated trading environment possible. EGM Securities also provides local service in Kenya through a global support structure, enabling them to serve their local clients more quickly and effectively.

Deposit and Withdrawal Options

For the convenience of their clients, EGM Securities has provided several options for depositing and withdrawing funds to/from their trading account:

- Credit card,
- Bank wire transfer,
- Electronic wallets,
- Cryptocurrency wallets,
- Mobile money (such as M-Pesa).

This variety of options should simplify how clients choose to fund their accounts and provide quicker access to their funds.

Regulatory Compliance and Licenses

Before any financial services company can build trust with its customers, compliance with industry regulations is the most important way to do so. EGM Securities has received regulatory approval from the Capital Markets Authority (CMA) of Kenya to operate as a licensed broker. The CMA has established strict compliance standards for EGM Securities to protect investors and maintain the stability and integrity of the marketplace.

EGM Securities also publicly displays its license issued by the Capital Markets Authority on its website; however, the specific license number and the link to the public registry maintained by the CMA are not disclosed.

Currently, EGM Securities Limited does not hold licenses to operate in other countries outside Kenya, but some entities within the Equiti/Divisa Group may hold additional licenses.

Trading Conditions and Platform Technology

Trading Conditions

Competitive conditions across all trade types are a strong point in EGM Securities' marketing strategy to attract traders from diverse backgrounds. Among the competitive advantages of EGM Securities are:
• Platform Fees:  $0.00
• Commission:  $0.00 paid*.
• Spreads:  from 0.0 pips*.
While advertisers promote low-cost trading, low spreads, and low commissions, specific numbers are not listed on their website for spreads, leverage, minimum deposit, or commissions. The existence of the "^" symbol and "*" asterisks indicate that there will be restrictions for these advertised products; typically stated on the client agreements or account-opening documents.

The Technology and Tools of EGM Securities

EGM Securities offers traders a comprehensive suite of technology to improve their trading experience. EGM Securities offers three platforms: MetaTrader 4, MetaTrader 5, and Equiti Trader. All are versatile, with user interfaces that appeal to a wide range of traders.

EGM Securities also offers traders additional tools to support their trading decisions, including built-in research tools, no-cost training materials, and a high-tech dashboard for advanced traders.

Fee Structure

EGM Securities emphasizes a transparent and competitive fee structure, highlighting zero platform fees and zero commissions on trades. However, the website does not provide explicit numeric details regarding deposit fees, withdrawal fees, inactivity fees, or other charges. This lack of publicly available fee schedules suggests that detailed fee information may be disclosed during account registration or within client agreements.

User Experience and Market Reputation

Customer support and educational resources are areas that EGM Securities pays careful attention to. As a result of this commitment, EGM Securities has established a strong, localised customer support structure, including a dedicated toll-free number for Kenyan clients to use when they need assistance, as well as 24/6 customer support access through local Kenyan offices.

EGM Securities also offers numerous free training resources and networking opportunities, demonstrating the company's commitment to fostering a knowledgeable trading community.

To provide the best possible support to its clients, EGM Securities offers a number of support platforms, including a ticketing system and a comprehensive help centre with a wide range of setup and FAQ guides. Although there are no third-party reviews or independent ratings on the website, the company uses fraud warnings and security advisories to demonstrate a proactive approach to protecting its clients.

Inherent Milestones

In 2018, EGM Securities received its CMA licence and has since continued to evolve and develop as a member of the Equiti/Divisa Group. As part of the Equiti/Divisa Group, EGM Securities has leveraged the Group's resources and extensive market presence to benefit from ongoing technological innovations and enhanced client convenience.

The integration of innovative trading platforms and the creation of the Equiti Trader App for mobile devices are examples of EGM Securities' commitment to technological innovation and enhanced client convenience.

The addition of payment methods, including mobile money services such as M-Pesa, is evidence of EGM Securities' commitment to serving local market needs and increasing the accessibility of its services to Kenyan Traders.

Conclusion

EGM Securities is an emerging and reputable broker in the Financial Services sector in Kenya, distinguished by its CMA licence and diverse trading services. Whether you are looking to trade Stocks, Forex, Futures, or CFDs, EGM Securities provides you with a wide selection of trading instruments along with a unique approach to Trading, as well as a knowledgeable client base.

Even though some specific information has not yet been made available to the public (i.e., Exact Spreads, Leverage, and Fees), EGM Securities' highly visible Regulatory Status and Local Support Infrastructure make this Broker an excellent choice for traders in Kenya and worldwide. EGM Securities will continue to innovate and develop in order to best serve the changing needs of the Online Trading Community.