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Regulator Performance Overview
295
50
37
1
0
1
Insurance coverage protecting client deposits and funds
Requirement for client funds to be held separately from company funds
Public licensee list
Tier 3
Online Forex Broker (Dealing/Non-Dealing) licence
Detailed assessment of regulatory capabilities and effectiveness
Detailed breakdown of the 6 key regulatory performance indicators
Value and prestige of licenses issued by this regulator
Effectiveness of regulatory framework and enforcement
This regulator shows below average performance with an overall score of 50.
Strongest performance in Regulatory
Transparency Level: Public licensee list
Global Tier: tier3
Protection against negative account balances in trading
Access to qualified investment professionals and advisory services
Government-regulated
Per local law; typical sanctions
Minimum capital requirement KSh 50 million
Kenya
Kenya (local clients)
Per local law; typical sanctions
Agency (STP); Market Maker (Principal) – per licence
Online portal available (https://www.cma.or.ke/licensees/online-forex-brokers/)
CMA complaints
Varies by firm
Information not available
Contact regulator for details
International Organization of Securities Commissions
Member of the global body that brings together the world's securities regulators
Access to international regulatory standards, cooperation frameworks, and best practices
Financial Action Task Force
Member of the inter-governmental body that sets standards for combating money laundering
Institutional strength and organizational capability
Risk assessment and management protocols
Investor protection measures and safeguards
Client fund protection and insurance coverage
The Capital Markets Authority (CMA) is an independent public agency created under the Cap 485A by an Act of Parliament; it operates under the National Treasury and Economic Planning.
The Authority has the power to supervise, license, and monitor market intermediaries, which include the Stock Exchange and the Central Depository and Settlement Corporation (CDSC).
Apart from the above, the CMA also regulates all persons licensed under the Capital Markets Act, including online forex brokers, commodity traders, and regulated exchanges.
Brokers authorized and regulated by this authority
Australia
United Kingdom
Cyprus+4 more licenses
United Arab Emirates
United States
Israel+6 more licensesUnited Arab Emirates
LebanonLebanon+4 more licenses
Seychelles
South AfricaCyprus+2 more licensesUnited KingdomSouth Africa
Kenya+1 more licensesCyprusUnited Arab Emirates
Japan+8 more licensesKenyaUnited KingdomSeychelles+1 more licensesSeychellesCyprusAustralia+1 more licensesCyprusLebanonSeychellesUnited Kingdom
MauritiusKenya+1 more licensesUnited Arab Emirates
Cayman Islands
Saudi Arabia+2 more licenses
Turkey
