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FBS in Kenya — review, licence and costs
Cost calculator (median of 36 priced of 55)
Score (5 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%65
- Round-turn cost20%60
- Safety20%0
- Track record10%85
- Platforms10%50
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- FBS Markets Inc
- Founded
- 2009
- Retail leverage
- 3000KE
- Round turn
- 13 USDKE
- Currencies
- USD or EUR; no KES accounts verified.
- Swap-free account
- yes
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Licence check
Open an account with FBSThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards Kenya residents
- FBS Markets Inc
- Local standing
- Offshore; not regulated by Kenya's CMA, no local compensation scheme.
- Licence as the register states it
- Belize FSC/IFSC; not CMA Kenya licensed.
- Leverage for this entity
- Up to 1:3000 under Belize entity; not locally capped.
- The firm behind it
- FBS founded 2009, Belize-based, serves 150+ countries.
- What we hold against it
- Not CMA-regulated; legal to use as offshore broker but no local recourse.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Kenyan residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youOffshore; not regulated by Kenya's CMA, no local compensation scheme.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against Kenya market median(priced from 36 of 55)
Medians run over the 36 of 55 brokers that publish a price for Kenya, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Cent, Standard, ECN/ECO, Zero Spread, Crypto. The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Taxes for a Kenyan resident(1 rule)
- Forex/CFD profit treated as ordinary income for most retail traders (not capital gains), added to taxable income, taxed on graduated bands roughly 10% up to a top marginal rate of 35% (as of the review;https://fbs.com
Not tax advice. Check with the Kenya Revenue Authority.
Deposit and withdrawal methods (3 methods · 0 local rails)
Cards, wire, e-wallets;
- Cards
- Wire
- E-wallets
- Account currency
- USD or EUR; no KES accounts verified.
- Fee declared
- 3 of 3 methods
- Withdrawal back to
- the funding method
Where it does not serve(9 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(4 platforms)
- MT4
- MT5
- FBS Trader app
| Class | Count | Min spread |
|---|---|---|
| MT4 | — | 0.7 |
| MT5 | — | 0.7 |
| FBS Trader app | — | 0.7 |
| All instruments | 550+ | — |
71 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 65 more.
Identical for every row: Leverage 3000 KE.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.3 | 9,100 |
Share of reviewers in Kenya: — The platform does not publish it.
Pros and cons(4 for and 6 against, each tied to a figure on this page)
- Min deposit 5 USD, under the Kenya median 25
- Swap-free account available
- Track record 85 of 100, its strongest of 5 scored axes
- 3 platforms: MT4, MT5, FBS Trader app
- Round turn 13 USD on the standard basis, over the Kenya median 7
- No Kenya authorisation on file: the entity that onboards you is licensed elsewhere
- Withdrawal time not published
- The published 1:3000 comes from the group's offshore entity, not from the Kenya one
- Safety 0 of 100, its weakest of 5 scored axes
- Not scored on payouts: the broker publishes no figure we could read
Alternatives in Kenya(6 of 55 scored in Kenya)
- Round turn, USD
- 14KE
- Min deposit, USD
- 5KE
- Leverage
- 5000KE
- Rank in this country
- #30
- Round turn, USD
- 9KE
- Min deposit, USD
- 25 groupKE
- Leverage
- 1000KE
- Rank in this country
- #17
- Round turn, USD
- 17KE
- Min deposit, USD
- 5KE
- Rank in this country
- #24
- Round turn, USD
- 6KE
- Min deposit, USD
- 0 groupKE
- Leverage
- 500 group
- Rank in this country
- #10
- Round turn, USD
- 6KE
- Min deposit, USD
- 10 groupKE
- Leverage
- 3000KE
- Rank in this country
- #14
- Round turn, USD
- 7KE
- Min deposit, USD
- 10KE
- Leverage
- 400KE
- Rank in this country
- #4
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a Kenya score. Full methodology
| Axis | Weight | What is measured | FBS |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 65 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 60 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 0 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | — |
| Track record | 10% | Years since the firm was founded, from its own filings | 85 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 50 |
Where FBS sits in the Kenya base(55 brokers)
Round-turn cost, USD (36 of 55 priced)
Median 7 USD · range 3-23 · this broker 13 USD · 19 of 55 brokers do not publish it
Minimum deposit, USD (27 of 55 priced)
Median 25 USD · range 0-2500 · this broker 5 USD · 28 of 55 brokers do not publish it
Retail leverage (29 of 55 with a Kenya figure)
Median 1:500 · range 30-5000 · this broker 1:3000 · 26 of 55 brokers do not publish it
Withdrawal time published (55 brokers)
FAQ
- Does FBS accept residents of Kenya?
- No. Offshore; not regulated by Kenya's CMA, no local compensation scheme. Onboarding entity: FBS Markets Inc
- Is FBS licensed to serve clients in Kenya?
- Belize FSC/IFSC; not CMA Kenya licensed. Checked on 09.07.2026.
- How much does one round turn cost at FBS?
- About 13.0 USD per standard lot on EUR/USD. The median across brokers measured for Kenya is 7.0 USD.
- What leverage does FBS offer to retail clients in Kenya?
- Up to 1:3000. Up to 1:3000 under Belize entity; not locally capped.
- Which trading platforms does FBS support?
- MT4, MT5, FBS Trader app. Instruments: FX pairs, metals, indices, energies, stocks, crypto CFDs.
- How can I withdraw money from FBS in Kenya?
- Cards, wire, e-wallets; M-Pesa availability not verified at review.
- What account types does FBS offer?
- Cent, Standard, ECN/ECO, Zero Spread, Crypto.
- Does FBS offer a swap-free (Islamic) account?
- Yes. FBS offers a swap-free (Islamic) account to Kenya residents.