What the trading account is

The same register checks, applied to the broker itself

The client agreement names the legal entity that will serve you. That entity is the one to check on its home regulator's register. The FxPro group operates through several regulated entities: one authorised by the FCA in the United Kingdom, one by CySEC in Cyprus, and one by the Securities Commission of The Bahamas. Which entity serves a client depends on the country of residence.

This site does not state that the broker is licensed, registered or supervised in Kenya. The reader should check the entity named in the client agreement against the regulator's own register. A name on a website is not the same as a name on a register.

How paying an overseas broker differs from a till or paybill

Paying an overseas broker through a bank or card is different from sending money to a till or paybill. A till or paybill is a mobile-money identifier registered with a Kenyan provider. A bank or card payment goes through institutions that may add their own charges and take their own time.

The broker's client agreement states which payment methods it accepts and what fees apply. The reader should read that part of the agreement before sending money. A payment to an overseas broker does not show the same name as a till payment; it shows the name the broker gives for its account.

What to read before an account is opened from Kenya

The client agreement and the risk warning are the two documents to read before opening an account. The risk warning states that CFDs are leveraged and carry a high risk of losing the money deposited. Negative balance protection applies to all clients, and client money is held separately from the company's own funds.

Retail leverage limits differ by regulating entity. The client agreement names the entity and its limits. The reader should read the risk warning in full, not just the summary. A practice account exists, and it is a way to see the platform before sending money.

The CMA does not licence FxPro. An account is opened with a company regulated outside Kenya (the group holds authorisations from the FCA in the United Kingdom and CySEC in Cyprus), which means a Kenyan resident deals with a foreign firm and the protections of a locally licensed one are not there. Sending foreign currency abroad to trade runs through a bank or a mobile-money provider, under their rules and the Central Bank of Kenya's requirements. This page is not investment advice.