Is HFM the Best Forex Broker in Kenya?

Let's be honest. Calling yourself the best is a bold move. It takes courage and confidence, and this is exactly what HFM does in the Kenyan market. They openly claim to be the best forex broker.

Well, not in the literal sense of being the absolute best broker overall — but in offering the best trading conditions. And in reality, that comes pretty close to meaning the same thing.

So let's dig deeper and see for ourselves whether HFM truly delivers the best trading conditions, or if this claim is just another unsubstantiated marketing move.

Regulation & Safety – The CMA License in Practice

HFM Investments Ltd holds License No. 155 with Kenya's Capital Markets Authority (CMA), operating as a non-dealing online foreign exchange broker. This means that legally, HFM is authorized to offer forex trading services to Kenyan residents under Kenyan law.

However, the presence of a license doesn't automatically mean perfect protection or identical trading conditions for every client. Because HFM is a multi-entity brokerage group, clients need to check which legal entity they'll be onboarded under. The CMA license limits HFM to certain types of online forex services (non-dealing) in Kenya, while other services (liquidity providers, portfolio services, etc.) might be handled by overseas entities under different regulators.

So yes, HFM does have the regulatory basis to claim that they are regulated in Kenya, but it's fair to verify during sign-up whether all your trading conditions and legal protections are indeed under that Kenyan license. In our own test, we noticed something odd: when attempting to register, the system redirected us to their Saint Vincent and the Grenadines entity instead of the CMA-licensed one.

We want to believe this was just a technical quirk — possibly related to accessing their website through a Kenyan VPN — and not an intentional move. For now, we'll give them the benefit of the doubt, but it still highlights why traders should double-check under which entity their account is opened. Good points here HFM.

Segregated Funds

This means that the money you deposit with HFM is kept in a separate bank account from the broker's own money. Why does that matter? Imagine you give your friend money to keep for you, but instead of putting it in a box with your name on it, they mix it with their grocery money. If they spend too much on shopping, your money could vanish. Segregation solves this: your trading funds are ring-fenced, so even if HFM has its own expenses, your deposits should remain untouched.

Negative Balance Protection

This is a safety net that stops you from owing money to the broker if the market crashes against your trade. For example, let's say you deposit KSh 10,000 and take a risky trade. If the market suddenly moves sharply the wrong way, in theory you could lose more than your deposit. Without protection, you might end up owing the broker extra money. With negative balance protection, your account is simply reset to zero — the maximum you can lose is only what you deposited.

M-Pesa Integration and Payment Methods

Many Kenyan traders expect HFM to support M-Pesa, because it's one of the fastest and most convenient ways to move money locally. Some review sites claim that HFM does accept M-Pesa deposits (around KES 1,000 minimum), and that the funds may arrive in about 10 minutes. However, HFM's official deposit options page does not clearly list M-Pesa by name. It simply refers to "Alternative" or "E-wallets," which can be vague.

We believe this may be due to site redirects, or the account being handled by an international/offshore entity rather than the CMA-licensed one. Until HFM explicitly confirms in writing that M-Pesa is available for all CMA-Kenya accounts, this remains something to double-check. So... HFM! Do you or do you not offer M-Pesa? Reach out to us on hello@trustedcfdbrokers.com

Trading Platforms and Features

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Spreads and Trading Costs

[Detailed comparison of spreads, commissions, overnight fees, and total trading costs for Kenyan accounts to be added here]

Customer Support and Education

[Analysis of customer support quality, availability in local languages, educational resources, and market analysis provided to Kenyan clients to be added here]

Comparison with Other Kenyan Brokers

[Comparative analysis with other CMA-regulated brokers available to Kenyan traders, highlighting HFM's strengths and weaknesses to be added here]

Conclusion

[Final assessment of whether HFM is the best forex broker choice for Kenyan traders, considering all factors analyzed above to be added here]