Is JustMarkets Licensed in Kenya?

When choosing a forex broker, Kenyan traders often ask the same crucial question: Is JustMarkets licensed in Kenya? The short answer is No – JustMarkets does not hold a license from the Capital Markets Authority (CMA), which is the financial regulator in Kenya. However, that does not necessarily mean it is illegal to use JustMarkets in Kenya.

Understanding Forex Regulations in Kenya

In Kenya, forex brokers that want to operate locally must be licensed by the CMA. This license ensures:

Compliance with Kenyan laws
Proper segregation of client funds
Local dispute resolution mechanisms
Regular audits and financial transparency

If a broker is not licensed in Kenya, it operates as an offshore broker, regulated by foreign authorities.

JustMarkets Regulatory Status

Global License: JustMarkets is regulated by the Financial Services Authority (FSA) of Seychelles under registration number 8421634-1.
Kenya License: Not licensed by the Capital Markets Authority.
Implication: Kenyan traders can still open accounts with JustMarkets, but legal protection will follow offshore regulations, not Kenyan laws.

Is It Legal to Trade with JustMarkets in Kenya?

Yes, it is legal for Kenyan residents to trade with JustMarkets. The CMA currently does not ban individuals from using offshore brokers. However, the risks are higher, because:

Dispute resolution must be done with the foreign regulator
Deposit and withdrawal methods may vary compared to local brokers
Kenyan investor protection policies do not apply

Why Kenyan Traders Still Use JustMarkets

Despite not being licensed in Kenya, JustMarkets is popular among Kenyan traders due to:

M-Pesa deposits and withdrawals – convenient for local payments
Low minimum deposit – starting from as little as $1
Multiple account types – including Standard, Pro, and Raw Spread
High leverage – up to 1:3000 for certain accounts
Support for MetaTrader 4 & MetaTrader 5 platforms

How to Stay Safe When Using Offshore Brokers

If you decide to trade with JustMarkets in Kenya, follow these tips:

Start with small deposits
Use strong risk management in your trades
Verify the broker’s withdrawal process before committing large funds
Keep communication records with customer support
Stay updated on CMA regulations in case of future restrictions

Conclusion

While JustMarkets is not licensed in Kenya, it operates under the FSA Seychelles and remains accessible to Kenyan traders. Using an offshore broker carries certain risks, but with proper precautions, many traders still choose JustMarkets for its competitive trading conditions and M-Pesa support.

If regulation by the CMA is a top priority for you, consider comparing JustMarkets with locally licensed brokers before making your decision.