Are prop firms legal in Kenya? The CMA and prop firms
Kenya regulates forex brokers through the CMA. Prop firms fall outside that system, which matters if something goes wrong.
Brokers vs prop firms
CMA-licensed brokers hold your deposit and execute real trades. A prop firm sells a challenge on a demo account for a fee. That's why prop firms aren't on the CMA's licensed list.
Scams to avoid
Be wary of 'account management' offers and 'funded account' sellers on WhatsApp and Telegram. Buy only from the firm's own website.
Checking a firm
Look for years in business, recent Trustpilot reviews and visible payouts.
Questions people ask
Can I complain to the CMA?
Generally not about a prop firm, since it isn't CMA-licensed.
Are local prop firms better?
Judge every firm on its track record, not its location.