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XM in Kenya — review, licence and costs
Cost calculator (median of 36 priced of 55)
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%5
- Round-turn cost20%40
- Safety20%90
- Payouts15%80
- Track record10%85
- Platforms10%50
Numbered by weight: axis 1 counts for most.
Key facts (5 facts)
- Onboarding entity
- XM Global Limited
- Founded
- 2009
- Round turn
- 17 USDKE
- Currencies
- USD, EUR, GBP, JPY, CHF, AUD and others; no KES base account, deposits converted.
- Swap-free account
- yes
Licence check
Open an account with XMThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards Kenya residents
- XM Global Limited
- Local standing
- Now locally CMA-regulated per recent reports (local oversight and dispute resolution); previously offshore Belize FSC only.
- Licence as the register states it
- XM reported as licensed by Kenya's Capital Markets Authority (CMA) as a non-dealing online forex broker (Feb 2026); older sources show offshore-only access. Local licence status: verify current CMA register.
- Leverage for this entity
- CMA-licensed local offering may cap leverage; offshore route still advertises up to 1:1000 - verify applicable cap at onboarding.
- The firm behind it
- Founded 2009, part of Trading Point Holdings; HQ Limassol, Cyprus; 15M+ clients worldwide; major MetaTrader forex/CFD broker.
- What we hold against it
- Positive if CMA licence confirmed (local protection); older offshore-only caveat - confirm on CMA register.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Kenyan residents enters the score.
CMA-licensed local offering may cap leverage; offshore route still advertises up to 1:1000 - verify applicable cap at onboarding.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youNow locally CMA-regulated per recent reports (local oversight and dispute resolution); previously offshore Belize FSC only.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against Kenya market median(priced from 36 of 55)
Medians run over the 36 of 55 brokers that publish a price for Kenya, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Micro, Standard, Ultra Low (Standard/Micro), Zero, Shares accounts, min deposit from USD 5 (Shares much higher). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Taxes for a Kenyan resident(1 rule)
- Forex/CFD profit treated as ordinary income for most retail traders (not capital gains), added to taxable income, taxed on graduated bands roughly 10% up to a top marginal rate of 35% (as of the review;https://cma.or.ke
Not tax advice. Check with the Kenya Revenue Authority.
Deposit and withdrawal methods (3 methods · 1 local)
M-Pesa deposits and withdrawals supported (instant deposit, withdrawals ~24h), plus cards and bank transfer;
- M-Pesa depositslocal
- Cards
- Bank transfer
- Account currency
- USD, EUR, GBP, JPY, CHF, AUD and others; no KES base account, deposits converted.
- Fee declared
- 3 of 3 methods
- Withdrawal back to
- the funding method
Where it does not serve(4 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(3 platforms)
- MT4
- MT5
- XM app
Identical for every row: Min spread 1.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 3.1 | 2,994 |
Share of reviewers in Kenya: — The platform does not publish it.
Pros and cons(6 for and 2 against, each tied to a figure on this page)
- Authorised by the Kenya regulator in its own register
- Min deposit 5 USD, under the Kenya median 25
- Withdrawal in 24 h, one of 46 of 55 brokers here that publish a time
- Swap-free account available
- Safety 90 of 100, its strongest of 6 scored axes
- 3 platforms: MT4, MT5, XM app
- Round turn 17 USD on the standard basis, over the Kenya median 7
- Reviews 5 of 100, its weakest of 6 scored axes
Alternatives in Kenya(6 of 55 scored in Kenya)
- Round turn, USD
- 9KE
- Min deposit, USD
- 10KE
- Leverage
- 400KE
- Rank in this country
- #16
- Round turn, USD
- 23KE
- Min deposit, USD
- 10KE
- Leverage
- 400KE
- Rank in this country
- #26
- Round turn, USD
- 13KE
- Min deposit, USD
- 5 groupKE
- Leverage
- 3000KE
- Rank in this country
- #27
- Round turn, USD
- 6KE
- Min deposit, USD
- 0 groupKE
- Leverage
- 2000 group
- Rank in this country
- #2
- Round turn, USD
- 7KE
- Min deposit, USD
- 10KE
- Leverage
- 400KE
- Rank in this country
- #4
- Round turn, USD
- 6KE
- Min deposit, USD
- 50 groupKE
- Leverage
- 500KE
- Rank in this country
- #19
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a Kenya score. Full methodology
| Axis | Weight | What is measured | XM |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 5 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 40 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 90 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 80 |
| Track record | 10% | Years since the firm was founded, from its own filings | 85 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 50 |
Where XM sits in the Kenya base(55 brokers)
Round-turn cost, USD (36 of 55 priced)
Median 7 USD · range 3-23 · this broker 17 USD · 19 of 55 brokers do not publish it
Minimum deposit, USD (27 of 55 priced)
Median 25 USD · range 0-2500 · this broker 5 USD · 28 of 55 brokers do not publish it
Retail leverage (29 of 55 with a Kenya figure)
Median 1:500 · range 30-5000 · 26 of 55 brokers do not publish it
Withdrawal time published (55 brokers)
FAQ
- Does XM accept residents of Kenya?
- Yes. Now locally CMA-regulated per recent reports (local oversight and dispute resolution); previously offshore Belize FSC only. Onboarding entity: XM Global Limited
- Is XM licensed to serve clients in Kenya?
- XM reported as licensed by Kenya's Capital Markets Authority (CMA) as a non-dealing online forex broker (Feb 2026); older sources show offshore-only access. Local licence status: verify current CMA register. Checked on 09.07.2026.
- How much does one round turn cost at XM?
- About 17.0 USD per standard lot on EUR/USD. The median across brokers measured for Kenya is 7.0 USD.
- Which trading platforms does XM support?
- MT4, MT5, XM app. Instruments: 1000+ instruments: 55+ forex pairs, stock indices, metals/energies/commodity CFDs and share CFDs; crypto CFDs vary by entity.
- How can I withdraw money from XM in Kenya?
- M-Pesa deposits and withdrawals supported (instant deposit, withdrawals ~24h), plus cards and bank transfer; no XM fee (M-Pesa network fees may apply).
- What account types does XM offer?
- Micro, Standard, Ultra Low (Standard/Micro), Zero, and Shares accounts; min deposit from USD 5 (Shares much higher).
- Does XM offer a swap-free (Islamic) account?
- Yes. XM offers a swap-free (Islamic) account to Kenya residents.