Broker review · Checked 25 Oct 2026

Exness review 2026: is Exness legit in Kenya and South Africa?

Exness is one of the few brokers licensed in both Kenya (CMA 162) and South Africa (FSP 51024), and two of its companies are approved OTC derivative providers in South Africa. M-Pesa deposits and withdrawals work, and the Standard account opens from about $10. The main risk is the very high leverage on its offshore accounts.

Founded2008
🇰🇪 CMALicence 162
🇿🇦 FSCAFSP 51024
Minimum depositFrom about $10 (depends on payment method)
M-PesaReported

By D. Kalburov, editor · Licence data from the CMA and FSCA registers · How we review brokers

Is Exness regulated? Licence by country

🇰🇪 KenyaCMA licence 162

Regulator: Capital Markets Authority (CMA)
Local company: Exness KE Limited
Licence number: 162
M-Pesa: Reported by Kenyan sources

🇿🇦 South AfricaFSCA licence FSP 51024

Regulator: Financial Sector Conduct Authority (FSCA)
Local company: Exness ZA (Pty) Ltd
Licence number: FSP 51024

Exness ZA is an intermediary. Both Exness (SC) Ltd and Exness Markets ZA (Pty) Ltd are approved OTC derivative providers (ODPs) on the FSCA list of OTC derivative providers, checked 25 Oct 2026. Check which of them issues your CFDs.

Source: tradefx.co.za, not yet checked on the register

A licence means someone supervises the broker. It does not make trading safe: most retail CFD accounts lose money.

About Exness

Founded 2008

Exness is a multi-asset CFD broker that is popular with retail traders across Africa, Asia and Latin America. In Kenya it trades as Exness KE Limited under CMA licence 162. In South Africa, Exness ZA (Pty) Ltd holds FSP 51024 and acts as an intermediary, while Exness (SC) Ltd and Exness Markets ZA (Pty) Ltd are on the FSCA list of approved OTC derivative providers.

Most Kenyan traders know Exness for one thing: money moves in and out through M-Pesa without a bank card. That convenience is real. The trade-off is that the brand also runs offshore companies that offer leverage far above what a beginner should touch.

Who Exness suits, and who should look elsewhere

Good fit if you

want to fund and withdraw with M-Pesa
are starting small, from about $10
want MetaTrader 4 or 5 with a locally licensed broker

Look elsewhere if you

want a single company and one set of rules across all accounts
need large single withdrawals to mobile money
are tempted by very high leverage

Exness account types and minimum deposit

Account	Minimum deposit	Pricing
Standard	From about $10 (depends on payment method)	Spread only, no commission
Professional accounts (Pro, Raw Spread, Zero)	Higher, set by region	Tighter spreads; Raw Spread and Zero charge a commission per lot

Account names and minimums vary by region and by the Exness company you sign with.

Leverage: Set by the company you join. Offshore Exness companies advertise very high or even unlimited leverage. Keep it low: at 1:100 a 1% move against you wipes out your margin.

Exness fees: spreads, commission and other charges

Spreads	Variable; tighter on Professional accounts
Commission	None on Standard; per-lot commission on Raw Spread and Zero
M-Pesa deposits and withdrawals	No Exness fee reported by Kenyan sources
Overnight swaps	Charged on positions held overnight; swap-free options exist

Work out the cost of a trade before you place it with our pip value and profit and loss calculators.

Exness deposits and withdrawals in Kenya and South Africa

🇰🇪 Kenya · M-Pesa

Licensed company: Exness KE Limited, CMA licence 162.
M-Pesa deposits and withdrawals are supported. Kenyan Wall Street reports deposits in about 30 minutes, withdrawals within 24 hours and a $10 minimum.
The same source reports per-transaction limits on M-Pesa of roughly $820 per deposit and $550 per withdrawal, so a large withdrawal may take several transfers.

🇿🇦 South Africa

Exness ZA (Pty) Ltd holds FSP 51024 and acts as an intermediary.
Exness (SC) Ltd and Exness Markets ZA (Pty) Ltd are both approved OTC derivative providers on the FSCA register (checked 25 Oct 2026).

M-Pesa limits, rand EFT, cards, e-wallets and the payment scams to avoid: read our deposits and withdrawals guide.

Exness trading platforms

Is your money safe with Exness?

Licensed by the CMA in Kenya and the FSCA in South Africa, with approved ODP status in South Africa.
Several Exness companies exist. Your protection depends on which one is named on your client agreement.
No regulator protects you from trading losses. Most retail CFD accounts lose money.

Exness pros and cons

Pros

CMA licence in Kenya and FSCA licence in South Africa
Approved OTC derivative provider in South Africa
M-Pesa deposits and withdrawals
Low minimum on the Standard account
MetaTrader 4 and 5

Cons

Very high leverage on offshore accounts
M-Pesa per-transaction limits
Several group companies, so check which one you join

Our real-money test of Exness

Coming

We will open a Exness account, deposit with M-Pesa, place a trade and withdraw, then publish the screenshots, the time each step took and every fee we paid.

Exness withdrawal time: reports from traders

How long do Exness withdrawals really take?

Loading reports…

Median of reports from traders. Not checked by us; our own tests are marked separately.

Withdrawal stuck or refused at Exness? Get a ready complaint letter and the right regulator contact with our complaint desk →

Exness: questions people ask

Is Exness regulated in Kenya?

Yes. In Kenya, Exness operates through Exness KE Limited, which holds CMA licence 162. Check that this company is named on your client agreement, not an offshore company of the same brand.

Is Exness regulated by the FSCA in South Africa?

Yes. In South Africa, Exness operates through Exness ZA (Pty) Ltd, which holds FSCA licence FSP 51024. Check that this company is named on your client agreement, not an offshore company of the same brand. Exness ZA is an intermediary. Both Exness (SC) Ltd and Exness Markets ZA (Pty) Ltd are approved OTC derivative providers (ODPs) on the FSCA list of OTC derivative providers, checked 25 Oct 2026. Check which of them issues your CFDs.

What is the Exness minimum deposit in Kenya?

The Standard account starts from about $10 (around KES 1,300). The exact minimum depends on the payment method; Professional accounts need more.

Does Exness accept M-Pesa?

Yes. Kenyan sources report M-Pesa deposits in about 30 minutes and withdrawals within 24 hours, with per-transaction limits.

Is Exness regulated in South Africa?

Yes. Exness ZA (Pty) Ltd holds FSP 51024, and two Exness companies are approved OTC derivative providers on the FSCA register.

Which platforms does Exness offer?

MetaTrader 4, MetaTrader 5 and its own web platform, Exness Terminal.

Sources for this review (checked 25 Oct 2026)

Fees, minimums and payment methods change and can differ by the company you sign with. Confirm them on the broker's site before you deposit. Spotted something out of date? Tell us.