If you’re searching for a reliable forex broker in Kenya, you’ve likely come across Exness. But is Exness legit? And more importantly, is it safe for your money? This detailed Exness review answers those critical questions upfront and examines everything Kenyan traders need to know about this global broker.
Quick Verdict: Yes, Exness is a legitimate, regulated broker that operates legally in Kenya under CMA license number 162. With over 16 years in business, multi-jurisdictional regulation, and instant M-Pesa withdrawals, Exness offers one of the most competitive trading environments for Kenyan traders. However, like all forex brokers, it carries trading risks, and some users report occasional withdrawal delays for specific payment methods.
What Is Exness?
Exness is a global forex and CFD broker founded in 2008 by a group of financial professionals. What started as a small operation in Cyprus has grown into one of the world’s largest retail forex brokers by trading volume, handling over $4.8 trillion in monthly trades as of 2025.
The broker operates in over 170 countries and serves more than 800,000 active traders monthly. Exness specializes in forex trading but also offers CFDs on commodities, indices, cryptocurrencies, stocks, and energies.
Company Background
Founded: 2008
Headquarters: Cyprus (with offices across Asia, Africa, and the Middle East)
Active Traders: 800,000+ monthly
Countries Served: 170+
Trading Volume: $4.8 trillion per month (as of February 2025)
Who Is Exness Best For?
Exness is particularly well-suited for:
- Beginners with limited capital (minimum deposit as low as $10)
- Kenyan traders seeking M-Pesa integration
- Scalpers and day traders needing tight spreads
- Traders who value instant withdrawals
- Those seeking high leverage options (up to 1:2000 globally, 1:400 in Kenya)
Regulation & Safety: Is Exness Legal in Kenya?
This is the most important question for any trader. Fortunately, Exness maintains a strong regulatory footprint.
Kenyan Regulation
Yes, Exness is fully regulated in Kenya. The broker operates through Exness (KE) Limited, which holds Capital Markets Authority (CMA) license number 162 as a non-dealing online foreign exchange broker.
This local regulation means:
- Legal recourse under Kenyan law if disputes arise
- Client funds segregated from company operational funds
- Compliance with AML (Anti-Money Laundering) and KYC (Know Your Customer) requirements
- Negative balance protection (you cannot lose more than your deposit)
- Regular CMA oversight and auditing
Global Regulation
Beyond Kenya, Exness holds licenses from multiple respected authorities:
- FCA (UK) – Financial Conduct Authority (Firm No. 730729) – Tier-1 regulator
- CySEC (Cyprus) – Cyprus Securities and Exchange Commission (License 178/12) – Tier-1 regulator
- FSCA (South Africa) – Financial Sector Conduct Authority (FSP No. 51024)
- FSA (Seychelles) – Financial Services Authority (License SD025)
- FSC (Mauritius) – Financial Services Commission
- CBCS (Curaçao) – Central Bank of Curaçao and Sint Maarten
- JSC (Jordan) – Jordan Securities Commission
Important Note: Exness (UK) Ltd and Exness (Cy) Ltd focus on B2B services and do not offer retail trading services. Kenyan traders are served under the CMA-regulated Exness (KE) Limited entity.
Fund Safety
Exness protects client funds through:
- Segregated accounts – Your money is kept separate from company funds in Tier-1 banks
- Negative balance protection – Prevents your account from going below zero
- Independent audits – Regular financial audits published on their website
- Transparent operations – Publishes quarterly withdrawal data and financial performance
Is Exness Safe?
Based on regulatory standing, fund segregation, and transparency measures, Exness ranks among the safer brokers available to Kenyan traders. However, remember that all forex trading carries inherent risk regardless of broker safety.
Account Types
Exness offers five main account types designed for different trading styles and experience levels.
1. Standard Account
Minimum Deposit: $10 (approximately KES 1,300)
Spreads: From 0.3 pips
Commission: None
Leverage: Up to 1:2000 (1:400 in Kenya)
Best For: Beginners and casual traders
The Standard Account provides commission-free trading with competitive floating spreads. It’s ideal if you’re new to forex or prefer straightforward pricing without commission calculations.
2. Standard Cent Account
Minimum Deposit: $10
Spreads: From 0.3 pips
Commission: None
Leverage: Up to 1:2000 (1:400 in Kenya)
Best For: Complete beginners, practice trading
This account allows trading in cent lots, meaning positions are 100 times smaller than standard lots. Perfect for learning with minimal risk. Note: Only 36 instruments available (forex and metals only).
3. Pro Account
Minimum Deposit: $200
Spreads: From 0.1 pips
Commission: None
Leverage: Up to 1:2000 (1:400 in Kenya)
Best For: Experienced traders, swing traders
Offers tighter spreads than Standard accounts without commissions. Provides instant execution, making it suitable for most trading strategies except high-frequency scalping.
4. Zero Account
Minimum Deposit: $200-$500 (region dependent)
Spreads: 0.0 pips on top 30 instruments (95% of the time)
Commission: Variable, typically $3.50-$8.00 per lot
Leverage: Up to 1:2000 (1:400 in Kenya)
Best For: Scalpers, algorithmic traders
Features zero spreads on major pairs but charges commissions. Ideal for strategies requiring precise entry/exit prices.
5. Raw Spread Account
Minimum Deposit: $200-$500
Spreads: From 0.0 pips
Commission: $3.50 per side ($7 per round lot)
Leverage: Up to 1:2000 (1:400 in Kenya)
Best For: Professional traders, high-frequency trading
Provides raw interbank spreads with fixed commissions. Offers the tightest spreads combined with transparent pricing.
Trading Platforms
Exness supports three main trading platforms:
MetaTrader 4 (MT4)
The industry-standard platform loved by millions globally. Features:
- User-friendly interface
- 30+ built-in indicators
- Expert Advisors (EAs) support for automated trading
- Available on desktop, web, and mobile
MetaTrader 5 (MT5)
The newer, more advanced version of MT4 with:
- More timeframes and indicators
- Economic calendar integration
- Better order execution
- Improved backtesting capabilities
Exness Terminal (Proprietary Platform)
Available via web and mobile app, offering:
- Simplified interface for beginners
- One-click trading
- Real-time price alerts
- Social trading integration
- News feed integration
Platform Reliability: Exness uses Equinix data centers to ensure low latency and minimal slippage. The platforms are stable and rarely experience downtime, making them reliable for both manual and automated trading.
Spreads, Fees & Commissions
Understanding trading costs is crucial for profitability.
Typical Spreads
| Account Type | EUR/USD Spread | Commission |
|---|---|---|
| Standard | From 1.0 pips | None |
| Standard Cent | From 1.0 pips | None |
| Pro | From 0.6 pips | None |
| Zero | From 0.0 pips | $3.50-$8.00/lot |
| Raw Spread | From 0.0 pips | $7/round lot |
Commission Structure
- Standard and Pro accounts: Commission-free. You only pay the spread.
- Zero account: Variable commission based on instrument (typically $3.50-$8 per lot)
- Raw Spread account: Fixed $3.50 per side ($7 per round turn lot)
Additional Costs
Swap Fees (Overnight Charges): Exness offers swap-free trading on many liquid instruments including major forex pairs, gold, and cryptocurrencies. For instruments with swaps, rates vary by position size and instrument.
Currency Conversion Fees: Applied when your deposit currency differs from your account base currency.
Deposit/Withdrawal Fees: Exness does not charge internal fees for deposits or withdrawals. The broker even covers third-party transaction fees in many cases. However, your payment provider (like M-Pesa or your bank) may charge their own processing fees.
Inactivity Fees: None. Your account remains active without penalties regardless of trading frequency.
Hidden Costs?
Exness is transparent about its fee structure. There are no hidden monthly fees, account maintenance charges, or surprise costs. All costs are clearly displayed before you trade.
Deposits & Withdrawals in Kenya
This is where Exness truly shines for Kenyan traders.
Available Payment Methods
M-Pesa (Most Popular for Kenyans)
- Minimum deposit: $10 (KES 1,300)
- Processing time: Instant
- Withdrawal time: Instant (typically within minutes)
- Fees: None from Exness; standard M-Pesa rates apply
Bank Transfer
- Minimum deposit: $50
- Processing time: 1-3 business days
- Withdrawal time: 1-3 business days
- Fees: None from Exness
Credit/Debit Cards (Visa, Mastercard)
- Minimum deposit: $10
- Processing time: Instant or within 30 minutes
- Withdrawal time: Up to 24 hours
- Fees: None from Exness; 3D Secure enabled
E-Wallets (Skrill, Neteller, Perfect Money)
- Minimum deposit: $10
- Processing time: Instant
- Withdrawal time: Instant to 24 hours
- Fees: None from Exness
Cryptocurrencies (Bitcoin, USDT, USDC)
- Minimum deposit: $10
- Processing time: Varies by blockchain confirmation
- Withdrawal time: Varies
- Fees: Network fees apply
M-Pesa Integration: A Game-Changer
For Kenyan traders, M-Pesa integration is perhaps Exness’s biggest advantage. Over 90% of Kenyan adults use M-Pesa, making it the most accessible payment method.
How to Deposit via M-Pesa:
- Log into your Exness Personal Area
- Navigate to “Deposit” and select M-Pesa
- Enter your M-Pesa registered phone number (+254)
- Enter deposit amount
- Approve the M-Pesa prompt on your phone
- Funds appear in your trading account instantly
How to Withdraw via M-Pesa:
- Go to “Withdrawal” in your Personal Area
- Select M-Pesa
- Enter withdrawal amount
- Confirm transaction
- Funds arrive in your M-Pesa wallet within minutes
Important: Always use the same M-Pesa phone number for deposits and withdrawals for security reasons.
Minimum Deposit
- Standard/Standard Cent: $10 (KES 1,300)
- Professional Accounts (Pro, Zero, Raw Spread): $200-$500 depending on region
Withdrawal Speed
Exness claims that over 98% of withdrawals are processed automatically. Most e-wallet and M-Pesa withdrawals complete within minutes. Bank transfers take 1-3 business days due to banking processes, not Exness delays.
Leverage
Leverage amplifies both potential profits and losses, making it a double-edged sword, especially for beginners.
Maximum Leverage
- Global: Up to 1:2000 (effectively unlimited on certain accounts)
- Kenya (CMA regulated accounts): Up to 1:400 for forex
What Does Leverage Mean?
With 1:400 leverage, you can control a $40,000 position with just $100 in your account. While this allows significant market exposure with limited capital, it also means losses can accumulate rapidly.
Risk Warning for Beginners
High leverage is tempting but dangerous. A 0.25% adverse price movement with 1:400 leverage can wipe out your entire account. Consider using lower leverage (1:50 or 1:100) until you develop consistent profitability and proper risk management skills.
Exness does provide negative balance protection, ensuring you cannot lose more than your deposited funds, which is a crucial safety feature.
Customer Support
Quality customer support can make the difference between a resolved issue and lost funds.
Availability
- 24/7 support via live chat, email, and phone
- Multilingual support in over 10 languages including English, Swahili, Arabic, and more
Local Support for Kenya
Exness provides dedicated support for Kenyan traders with staff familiar with local payment systems (M-Pesa), regulations (CMA), and trading conditions.
Contact Methods
- Live Chat: Available 24/7 directly from the website or trading platform
- Email: support@exness.com (typical response time: within 24 hours)
- Phone Support: Multiple international numbers including Africa-specific lines
- Help Center: Comprehensive knowledge base with articles, FAQs, and video tutorials
Response Quality
Most traders report helpful and professional responses, though some complex issues may require escalation to specialized teams. Live chat provides quick answers for standard queries, while technical issues may take longer to resolve.
Pros & Cons
✅ Pros
- Strong regulation including CMA Kenya license
- Instant M-Pesa deposits and withdrawals – major advantage for Kenyan traders
- Very low minimum deposit ($10) makes it accessible to beginners
- Tight spreads especially on Pro, Zero, and Raw Spread accounts
- No deposit or withdrawal fees from broker side
- Negative balance protection included
- Multiple trading platforms (MT4, MT5, Exness Terminal)
- Swap-free trading available on major instruments
- High leverage options (though risky for beginners)
- Transparent operations with published audits
- 24/7 customer support with local Kenyan assistance
- KES-denominated accounts available
- No inactivity fees
- Educational resources through Exness Academy
❌ Cons
- Limited instrument selection compared to some competitors (primarily forex-focused)
- Occasional withdrawal delays reported for bank transfers and certain payment methods
- Trading volume requirements for withdrawals in some cases (anti-money laundering measure)
- Additional KYC verification sometimes requested before withdrawals
- Customer support can be slow for complex issues
- Not regulated by certain Tier-1 regulators in restricted countries (US, Canada, Australia)
- Spread widening during high volatility periods (common across all brokers)
- Standard Cent account has limited instrument availability
Is Exness Good for Beginners?
Beginner Suitability Score: 8/10
Yes, Exness is well-suited for beginners for several reasons:
What Makes It Beginner-Friendly:
- Very low $10 minimum deposit removes entry barriers
- Standard Cent account allows practice with real money at minimal risk
- Commission-free Standard account simplifies cost calculations
- User-friendly platforms, especially Exness Terminal mobile app
- Comprehensive educational resources through Exness Academy
- Demo accounts available for risk-free practice
- Local payment support (M-Pesa) for easy deposits/withdrawals
Potential Challenges for Beginners:
- High leverage (1:400) is dangerous without proper risk management
- Forex trading inherently complex and risky
- Platform features can be overwhelming initially
- Requires discipline to avoid overtrading
Recommendation: If you’re a beginner, start with the Standard Cent account, use low leverage (1:50 maximum), never risk more than 1-2% per trade, and spend significant time on the demo account before risking real money. Take advantage of Exness Academy’s educational materials to build a solid foundation.
Common Complaints & Issues
No broker is perfect. Here are the most frequently reported issues with Exness:
1. Withdrawal Delays (Bank Transfers)
Some users report delays of 3-7 days or more for bank transfer withdrawals, especially in certain regions. While Exness processes most withdrawals instantly, bank transfers depend on the banking system.
Solution: Use M-Pesa or e-wallets for faster withdrawals. If using bank transfers, expect 1-3 business day standard processing time.
2. Additional KYC Documentation Requests
Traders occasionally report that Exness requests additional verification documents (updated bank statements, selfies with ID, proof of address) even after initial account verification, particularly before large withdrawals.
Why This Happens: Regulatory compliance and anti-money laundering requirements. Financial regulators require brokers to verify the source of funds, especially for larger transactions.
Solution: Keep your documents updated and respond promptly to verification requests. This is standard practice across regulated brokers.
3. Trading Volume Requirements for Withdrawals
Some users report withdrawal rejections with messages about “insufficient trading activity” or “inadequate trading volume.”
Why This Happens: This is an anti-money laundering measure. Regulators require brokers to prevent their platforms from being used solely for money transfers without actual trading activity. Deposit-and-immediate-withdrawal patterns raise red flags.
Typical Requirements: While Exness doesn’t publish exact figures, brokers generally expect around 0.5-1 lot of trading activity per $1,000 deposited before allowing profit withdrawals. Initial deposits can usually be withdrawn more flexibly.
Solution: Ensure you engage in legitimate trading activity. If you’re a genuine trader, this shouldn’t be an issue. If you’re depositing and immediately trying to withdraw without trading, expect delays.
4. Price Discrepancies/Slippage
A few traders report price discrepancies compared to other brokers, particularly during high volatility periods or news events.
Reality Check: All brokers experience slippage during extreme volatility. Exness uses market execution, meaning your order is filled at the best available price. During major news releases or low liquidity periods, prices can move rapidly, causing slippage.
Solution: Avoid trading during major news events if you’re particularly concerned about slippage, or use limit orders instead of market orders.
5. Customer Support Response Times
While most queries are answered quickly via live chat, some users report slow responses for complex technical issues or escalated complaints.
Solution: Use live chat for simple queries. For complex issues, email support with detailed information and reference numbers. Follow up if you don’t receive a response within 24-48 hours.
Transparency Note
It’s important to acknowledge these issues honestly. While Exness is generally reliable, no broker is perfect. Most reported problems are either:
- Related to regulatory compliance requirements (KYC, AML)
- Banking system delays beyond the broker’s control
- User misunderstanding of trading costs or requirements
- Issues affecting a minority of users rather than systemic problems
The vast majority of Exness users report positive experiences, particularly with M-Pesa transactions and platform reliability.
FAQs
Is Exness legit?
Yes, Exness is a legitimate, regulated broker founded in 2008. It operates under multiple licenses including FCA (UK), CySEC (Cyprus), FSCA (South Africa), and CMA (Kenya). With over 800,000 active traders and $4.8 trillion in monthly trading volume, it’s one of the world’s largest retail forex brokers.
Is Exness regulated in Kenya?
Yes, Exness operates in Kenya through Exness (KE) Limited, which holds Capital Markets Authority (CMA) license number 162 as a non-dealing online foreign exchange broker. This provides local regulatory oversight and legal protection for Kenyan traders.
What is the minimum deposit for Exness?
The minimum deposit for Standard and Standard Cent accounts is $10 (approximately KES 1,300). Professional accounts (Pro, Zero, Raw Spread) require a minimum deposit of $200-$500 depending on your region.
Can I use M-Pesa with Exness?
Yes, Exness fully supports M-Pesa for both deposits and withdrawals in Kenya. Transactions are typically processed instantly. The minimum M-Pesa deposit is $10 (KES 1,300), and there are no fees charged by Exness (standard M-Pesa transaction fees apply).
Is Exness good for beginners?
Yes, Exness is suitable for beginners due to its low $10 minimum deposit, commission-free Standard account, user-friendly platforms, and comprehensive educational resources. However, beginners should use low leverage, practice on demo accounts first, and invest time in learning proper risk management before trading with real money.
How fast are Exness withdrawals?
Exness claims over 98% of withdrawals are processed automatically. M-Pesa and e-wallet withdrawals typically complete within minutes to hours. Credit/debit card withdrawals take up to 24 hours. Bank transfers take 1-3 business days depending on your bank’s processing time.
Does Exness charge withdrawal fees?
No, Exness does not charge withdrawal fees. In many cases, the broker even covers third-party transaction fees. However, your payment provider (bank, M-Pesa, e-wallet) may apply their own standard charges.
What leverage does Exness offer in Kenya?
For CMA-regulated accounts in Kenya, Exness offers leverage up to 1:400 for forex trading. While the broker offers up to 1:2000 leverage in other jurisdictions, Kenyan traders are limited to 1:400 in compliance with local regulations. Remember that high leverage increases both profit potential and risk.
Final Verdict
Summary
Exness stands out as one of the most accessible and transparent forex brokers available to Kenyan traders. With full CMA regulation, instant M-Pesa integration, competitive spreads, and a low $10 entry point, it removes many barriers that typically prevent beginners from entering the forex market.
The broker’s 16-year track record, multi-jurisdictional regulation, segregated client funds, and published financial audits demonstrate a commitment to transparency and trader protection that’s rare in the industry.
Who Should Use Exness?
Exness is ideal for:
- Kenyan traders wanting local regulation and M-Pesa support
- Beginners with limited capital looking to start with $10-$100
- Scalpers and day traders needing tight spreads and fast execution
- Traders prioritizing instant withdrawals and transparency
- Those seeking swap-free (Islamic) trading accounts
- Mobile traders who trade primarily on smartphones
Who Should Avoid Exness?
Exness may not be suitable for:
- Traders in restricted countries (US, Canada, Australia, most EU countries)
- Those seeking extensive stock, ETF, or cryptocurrency CFD variety
- Traders requiring specific platforms beyond MT4/MT5
- Anyone uncomfortable with high-risk forex/CFD trading
- Those expecting guaranteed profits (no broker can offer this)
Safety Reminder
While Exness provides a secure trading environment, all forex and CFD trading involves substantial risk of loss. Regulation and fund segregation protect you from broker fraud, but they cannot protect you from market risk. Only trade with money you can afford to lose, and never invest borrowed funds.
This review is for informational purposes only and should not be considered financial advice. Always conduct your own research, understand the risks involved, and consider consulting a licensed financial advisor before trading.
Final Rating
| Category | Rating | Comment |
|---|---|---|
| Regulation & Safety | 9/10 | Strong multi-jurisdictional regulation including CMA Kenya |
| Trading Costs | 8/10 | Competitive spreads, no hidden fees |
| Platforms & Tools | 8/10 | Industry-standard MT4/MT5 plus proprietary app |
| Deposits & Withdrawals | 9/10 | Instant M-Pesa, no fees, multiple options |
| Customer Support | 7/10 | 24/7 availability but variable response times |
| Beginner-Friendly | 8/10 | Low barriers to entry, good education |
| Overall | 8.2/10 | Excellent choice for Kenyan traders |
Disclaimer: Forex and CFD trading involves substantial risk of loss and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade forex or CFDs, you should carefully consider your investment objectives, level of experience, and risk appetite. You could lose some or all of your initial investment. This review is based on research conducted in December 2025 and is for informational purposes only. It does not constitute investment advice. Always verify current information directly with Exness and relevant regulatory authorities.
