FXPesa (EGM Securities) Review 2026

Item: FXPesa
Rating: 4.7
Author: Oleg Tkachenko

By: Oleg Tkachenko
Updated: October 05, 2026

Top Brokers Overview — United States

Visit the site anyway

Min. deposit $15
Fees 9 /10
Account types 5.2 /10
Regulation 6.3 /10

4.7 /10

High risk

FXPesa User Reviews 6.5
Commissions and Fees 9.0
Regulation and Safety 6.3
Account Types 5.2
Deposit and Withdrawal 5.5
Markets and Tradable Assets 7.5
Trading Account Opening 9.0
Customer Support 7.1

How we tested FXPesa

Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.

Learn more about our methodology and editorial policies.

FXPesa Pros & Cons

A license from Kenya’s government regulator.
Order execution using Non-Dealing Desk technology, which eliminates conflicts of interest between the broker and its clients.
A wide selection of assets, more than 300 instruments, and high leverage, with leverage up to 2000 for trades on currency pairs and metals.
No restrictions on the use of automated trading systems.
Low floating spreads on all account types.
The ability to open a demo account or an Islamic swap-free account.

Cryptocurrency trading is not available.
An inactivity fee is charged.
There are no cent accounts among the available account types.

FXPesa is an STP, NDD, and ECN broker that is part of the International Equity group of companies. It provides access to trading five asset classes including currency pairs, ETFs, CFDs on stock indices, shares, and commodities through the MT4 and MT5 trading platforms, as well as the Equiti Trader applications, and the FXPesa Copy copy trading system for passive investing. The company’s headquarters is located in Nairobi, and it is licensed by Kenya’s government regulator, the Capital Markets Authority (CMA). The broker also holds a license from the Financial Services Authority of Seychelles. According to World Economic Magazine Awards, FXPesa was named the Best Forex Broker in Kenya in 2021.

TU Expert Verdict

FXPesa carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.

FXPesa provides access to trading over 2,000 assets, including 62 currency pairs, ETFs, stock CFDs, indices, and commodities through MetaTrader 4. The broker offers ECN and Standard accounts, with minimum deposits starting at $15, tight floating spreads from 0.5 pips on EUR/USD, and ECN commissions as low as $2.5 per lot. As part of the International Equity Group, FXPesa is regulated by the Kenyan Capital Markets Authority and offers features such as negative balance protection and a fully online account opening process.

Drawbacks include the absence of cent accounts, no bonuses or promotions, limited educational and analytics resources, and commission fees for withdrawals to banks and e-wallets outside Kenya. The broker is not Tier-1 regulated and does not support PayPal or BTC payments. FXPesa may appeal to cost-conscious traders and those seeking straightforward Forex and CFD access, but beginners who want micro position sizes or more training tools may find it less suitable.

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OANDA

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Venom by Cobra Trading

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FXPesa User Reviews

Score:

6.5 /10

22 total

5-star

18%
4-star

14%
3-star

55%
2-star

5%
1-star

9%

EGM Securities is approved by the Kenyan state regulator, which is a strong argument in favor of the broker's reliability. Personally, this gives me confidence for the future, as the company works within clearly established rules. Transactions run smoothly, with no nasty surprises, and in this respect the broker really deserves a positive review. If you like bonuses and promotions, you'll be disappointed: there are no incentives for customers. Many brokers offer deposit bonuses, cash rebates or affiliate programs, but EGM Securities goes in the opposite direction. If this isn't crucial to you, the broker is just right for the job, but if you expect extra privileges, it's best to consider other options.

EGM Securities est approuvé par l'organisme de réglementation de l'État du Kenya, ce qui constitue un argument de poids en faveur de la fiabilité du courtier. Personnellement, cela me donne confiance en l'avenir, car la société travaille dans le cadre de règles clairement établies. Les transactions se déroulent en douceur, sans mauvaises surprises, et à cet égard, le courtier mérite vraiment une évaluation positive.
Si vous aimez les bonus et les promotions, vous serez déçu : il n'y a pas d'incitations pour les clients. De nombreux courtiers offrent des bonus de dépôt, des remises en espèces ou des programmes d'affiliation, mais EGM Securities va dans le sens contraire. Si ce n'est pas crucial pour vous, le courtier est tout à fait adapté au travail, mais si vous attendez des privilèges supplémentaires, il est préférable d'envisager d'autres options.

Order execution via the Non-Dealing Desk (NDD) is truly impressive at EGM Securities. This means that the broker does not intervene in customers' transactions, and forwards them directly to the liquidity providers. This approach eliminates conflicts of interest between the company and traders, making transactions transparent and fair. However, the affiliate program is not for everyone. The company only pays commissions to Introducing Brokers (IBs), but ordinary retail traders can't earn by attracting customers. If you were hoping to earn extra income through the affiliate program, you may be disappointed. Otherwise, the broker offers decent conditions for independent trading.

L'exécution des ordres par le Non-Dealing Desk (NDD) est vraiment impressionnante chez EGM Securities. Cela signifie que le courtier n'intervient pas dans les transactions des clients et les transmet directement aux fournisseurs de liquidités. Cette approche élimine les conflits d'intérêts entre la société et les traders, ce qui rend les transactions transparentes et équitables. Grâce à cela, on peut être sûr que les cotations sont réelles et que les transactions sont exécutées sans manipulations cachées.
Toutefois, le programme d'affiliation ne convient pas à tout le monde. La société ne verse des commissions qu'aux courtiers introducteurs (IB), mais les traders particuliers ordinaires ne peuvent pas gagner en attirant des clients. Si vous espériez obtenir des revenus supplémentaires grâce au programme d'affiliation, vous risquez d'être déçu. Sinon, le courtier offre des conditions décentes pour le trading indépendant.

The minimum deposit at EGM Securities depends on account type and is either $15 or $100, making the broker available to beginners and more experienced traders alike. This choice allows everyone to find comfortable conditions without overpaying for unnecessary features. In this respect, the broker makes a real effort to cover different customer categories, but there are no cent accounts in the account line. Personally, this isn't critical, as I'm skeptical about them - more often than not, they're only useful for the very first steps in trading, but they don't allow you to really understand the market due to the peculiarities of the job. If someone prefers to start with minimum amounts in pennies, there's no such possibility here. Otherwise, the broker offers a good choice for trading.

Le dépôt minimum chez EGM Securities dépend du type de compte et est de 15 $ ou 100 $, ce qui rend le courtier disponible pour les débutants comme pour les traders plus expérimentés. Ce choix permet à chacun de trouver des conditions confortables sans payer trop cher pour des caractéristiques inutiles. À cet égard, le courtier s'efforce réellement de couvrir différentes catégories de clients.
Cependant, il n'y a pas de comptes cent dans la ligne de comptes. Personnellement, ce n'est pas critique, car je suis sceptique à leur sujet - le plus souvent, ils ne sont utiles que pour les tout premiers pas dans le trading, mais ils ne permettent pas de comprendre réellement le marché en raison des particularités du travail. Si quelqu'un préfère commencer avec des montants minimums en centimes, il n'y a pas de telle possibilité ici. Sinon, le courtier offre un bon choix pour le trading.

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Commissions and Fees

Score:

9 /10

The trading and non-trading commissions of FXPesa have been analyzed and rated as having Low fees, with a fees score of 9/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.

Low Forex trading fees
Tight EUR/USD market spread
No inactivity fee
No deposit fee
No withdrawal fee

Complex fee structure

Trading Fees and Spread

Below, we evaluated and compared the trading commissions of FXPesa with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.

Standard Account Spread

For Standard accounts, FXPesa’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.

FXPesa Standard spreads
	FXPesa	OANDA	FOREX.com
EUR/USD min, pips	0.5	0.1	0.7
EUR/USD max, pips	1.5	0.5	1.2
GPB/USD min, pips	0.7	0.1	0.9
GPB/USD max, pips	1.6	0.5	1.4

RAW/ECN Account Commission And Spread

The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.

FXPesa RAW/ECN spreads
	FXPesa	OANDA	FOREX.com
Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency).	2.5	3.5	5
EUR/USD avg spread	0.10	0.15	0.2
GBP/USD avg spread	0.15	0.2	0.4

Non-Trading Fees

We conducted a detailed analysis of the non-trading fees associated with FXPesa. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.

FXPesa Non-Trading Fees
	OANDA	FOREX.com
Deposit fee, % The indicated amount does not include possible fees from payment systems and banks.	0	0
Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks.	0	0
Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks.	0-15	0
Inactivity fee ($, per month)	0	15

Is FXPesa Safe?

Score:

6.3 /10

FXPesa has a safety score of 6.3/10, which corresponds to a Medium security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.

Is regulated
Negative balance protection

Not tier-1 regulated
Track record of less than 8 years

FXPesa Regulators and Investor Protection
Abbreviation	Full Name	Country of regulation	Investor Protection Fund	Regulation Level
Abbreviation CMA (Kenya)	Full Name The Capital Markets Authority	Country of regulation Kenya	Investor Protection Fund KES 50,000	Regulation Level Tier-2

FXPesa Security Factors
Foundation date	2019
Negative balance protection	Yes
Verification (KYC)	Yes

Account Types

Score:

5.2 /10

FXPesa offers the following account options: Demo, Standard, ECN/Raw spread.

However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.

Low minimum deposit
Demo account
Tight spread ECN account

No Cent account
No VIP account option

FXPesa account types vs top competitors
	EGM Securities	Trading.com	Plus500
Standard	Yes	Yes	Yes
ECN/Raw spread	Yes	No	No
Demo	Yes	Yes	Yes
Cent	No	No	No
Micro	No	No	No
Swap Free	No	No	No
VIP	No	No	No
Managed	No	No	No

FXPesa accounts trading conditions

FXPesa offers two types of trading accounts with a minimum lot size of 0.01. Both accounts allow trading all available currency pairs, metals, shares, and indices with leverage up to 2000. However, it does not provide cent accounts, which may be a drawback for beginners who want to practice with minimal risk.

Account types:

Account Type	Description
Standard	A universal account with a minimum deposit of $0 and spreads from 1.4 pips. No additional trading commission is charged.
Premiere	A professional account with spreads from 0.0 pips. The commission depends on the instrument class. For currency pairs and precious metals, it is $3.5 per side, which equals $7 per lot. For most CFDs on futures contracts, the commission is $10 per lot. For certain contracts, such as natural gas and high-grade copper, it is $7 per lot. The minimum deposit is $100.

Traders who are interested in the conditions stated on the website can open a demo account with a validity period of up to 90 days.

FXPesa offers accounts for both experienced traders who trade Forex professionally and beginners who do not have sufficient capital.

Deposit and Withdrawal

Score:

5.5 /10

FXPesa received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.

FXPesa provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.

Bank wire transfers available
Minimum deposit below industry average
Bank card deposits and withdrawals
No deposit fee

Limited deposit and withdrawal flexibility, leading to higher costs
BTC not available as a base account currency
PayPal not supported

What are FXPesa deposit and withdrawal options?

FXPesa provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller.

FXPesa Deposit and Withdrawal Methods vs Competitors
	FXPesa	Trading.com	Plus500
Bank Wire	Yes	Yes	Yes
Bank card	Yes	Yes	Yes
PayPal	No	No	Yes
Wise	No	No	No
BTC	No	No	No

What are FXPesa base account currencies? Base account currencies are the primary currencies in which trading accounts are denominated. They determine the currency used for deposits, withdrawals, and calculating account balances.Using a base currency that matches a trader's local currency can help avoid unnecessary conversion fees.

A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. FXPesa supports the following base account currencies: USD, AED, KES.

What are FXPesa's minimum deposit and withdrawal amounts?

The minimum deposit on FXPesa is $15, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact FXPesa’s support team.

Markets and Tradable Assets

Score:

7.5 /10

FXPesa offers a wider selection of trading assets than the market average, with over 2000 tradable assets available, including 62 currency pairs.

2000 assets for trading
Indices trading
ETFs investing

Futures not available
Copy trading not available

Supported markets vs top competitors

We have compared the range of assets and markets supported by FXPesa with its competitors, making it easier for you to find the perfect fit.

	EGM Securities	Trading.com	Plus500
Currency pairs	62	69	60
Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs.	2000	69	2800
Stocks	Yes	No	Yes
Commodity futures	Yes	No	Yes
Crypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada.	No	No	Yes
Stock indices	Yes	No	Yes
Options	No	No	Yes

Investment options

We also explored the trading assets and products FXPesa offers for beginner traders and investors who prefer not to engage in active trading.

	EGM Securities	Trading.com	Plus500
Bonds	No	No	No
ETFs	Yes	No	Yes
Copy trading	No	No	No
PAMM investing	No	No	No
Managed accounts	No	No	No

Trading Account Opening

Score:

9 /10

We successfully registered an account with FXPesa in 12 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at FXPesa is $15. This is one of the most accessible and hassle-free onboarding procedures on the market.

Low minimum deposit requirement
Fully online account opening process
Fast registration time (up to 15 minutes)

Account approval may require extra time depending on the documentation.

FXPesa account opening
	EGM Securities	Trading.com	Plus500
Online Registration	Yes	Yes	Yes
Minimum deposit	$15	$50	$100
Mandatory KYC	Yes	Yes	Yes
Registration time (min)	12	20
KYC time (days)	2	2	3

Is FXPesa available in my country?

If you are a citizen of United States, the broker accepts clients from your country.

Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.

Account opening details

To start trading with FXPesa, open a trading account and fund it. These actions are performed in the user account. To create it, follow these steps:

Go to the official FXPesa website and click the “Start Trading” button.
A standard registration form will open. Enter your first name, last name, country of residence, date of birth, and phone number.
Next, provide your exact address, the size of your available capital, your trading experience, and your source of income.
After completing registration, log in to the user account by entering the username and password specified in the form.

The following actions are available in the FXPesa user account:

Open trading or demo accounts.
Deposit and withdraw funds.
Launch WebTrader to execute trades.
Use MT4 and MT5 to configure settings and review passwords.
Generate reports including statements, daily account summaries, and transaction history, with the option to export data to Excel.
Contact a company representative quickly via online chat.

Customer Support

Score:

7.1 /10

FXPesa provides generally reliable customer support with access through several contact options. Response times are acceptable, although occasional delays may occur.

In TU testing, support answered within a reasonable timeframe, and communication was mostly clear. While the overall service is stable, there is room for improvement in speed or consistency.

Information

The broker’s website features a chatbot that can be contacted at any day and time. Chat and phone support operators are available 24 hours a day from Sunday to Friday.

The virtual assistant on the website is available 24/7.
Chat operators answer questions even from unregistered users.

Sometimes the wait time for a specialist’s response ranges from 30 minutes to 1 hour.

This broker provides the following communication channels for its clients:

online chat on the website;
toll-free phone calls, with numbers provided for Kenya and in international format;
sending an email to support@fxpesa.com;
submitting a request via the website chatbot;
sending a message via WhatsApp, which is available only to registered clients.

Contacts
Foundation date	2019
Registration address	RiverFront, 2nd Floor, Prof David Wasawo Drive, Westlands, Kenya
Regulation	CMA license No. 107, FSA Seychelles license No. SD064 Licence number: 107
Official site	fxpesa.com
Contacts	support@fxpesa.com 0800-211-185; +254-730-676-002

Best FXPesa Alternatives

Trading.com USA

6.8 /10

Regulation Tier-1

EUR/USD 0.9 pips

Plus500

6.7 /10

Regulation Tier-1

EUR/USD 0.5 pips

OANDA

6.7 /10

Regulation Tier-1

EUR/USD 0.1 pips

FOREX.com

6.5 /10

Regulation Tier-1

EUR/USD 0.7 pips

Venom by Cobra Trading

6.4 /10

Regulation Tier-1

EUR/USD 0.25 pips

FAQs

How secure is trading with FXPesa in terms of regulation and client protection?

FXPesa has a safety score of 6.3/10, which corresponds to a medium security level in the reviewed methodology. It is regulated by the Capital Markets Authority (CMA) in Kenya, offers negative balance protection, and requires KYC verification, but it is not tier-1 regulated, has a track record of less than 8 years, and its investor protection fund is listed as KES 50,000.

What do expert reviews say about FXPesa trading commissions and non-trading fees?

According to the section on commissions, FXPesa’s overall fee level is described as low, with a fees score of 9/10. The broker has tight EUR/USD spreads on Standard accounts (typically 0.5–1.5 pips), ECN commissions of $2.5 per lot with very low average spreads, and no stated deposit, withdrawal, or inactivity fees.

What account types and key trading conditions are highlighted in FXPesa reviews?

The review notes that FXPesa offers Demo, Standard, and ECN/Raw-type (Premiere) accounts, but does not provide cent, micro, VIP, or managed accounts. Standard accounts have a $0 minimum deposit with spreads from 1.4 pips and no extra commission, while Premiere accounts have a $100 minimum deposit, spreads from 0.0 pips, and instrument-based commissions, with leverage up to 1:2000 and a minimum lot size of 0.01 on both accounts.

How do reviews describe the FXPesa account opening process?

The account opening process at FXPesa is described as fully online, with registration completed in about 12 minutes and KYC verification typically taking 2 business days. The minimum deposit is stated as $15, and while the onboarding is characterized as accessible and straightforward, the review notes that account approval time can vary depending on the documents provided.

What feedback is available on FXPesa customer support and response times?

The review describes FXPesa customer support as generally reliable, with a virtual assistant available 24/7 and human chat and phone support operating 24 hours a day from Sunday to Friday. It also notes that while responses are mostly clear and provided within a reasonable timeframe, there can be waits of 30 minutes to 1 hour for a specialist, and support is accessible through online chat, phone, email, chatbot requests, and WhatsApp for registered clients.