Exinity Capital, 4th Non-dealing Online Forex Broker in Kenya

The Capital Markets Authority (CMA) has approved Exinity Capital East Africa Limited to operate as a non-dealing online foreign exchange broker.

Exinity Capital East Africa Limited becomes the fourth non-dealing online foreign exchange broker to be licensed by CMA.

The others are EGM Securities Ltd (trading as FXPesa), SCFM Ltd (trading as Scope Markets), and Pepperstone Markets Kenya Limited.

“This is an important milestone in the online foreign exchange market as it gives Kenyans a choice of four non-dealing online foreign exchange brokers licensed by CMA,” acting chief executive Wyckliffe Shamiah said Wednesday.

According to the Capital Markets (Online Foreign Exchange Trading) Regulations, 2017, Non-dealing Online Forex brokers do not offer client advice or trade on behalf of their clients. Clients deposit their investment amount with an account to be offered by the broker.