Broker review · Checked 25 Oct 2026

FXPesa (Equiti) review 2026: is FXPesa (Equiti) legit in Kenya and South Africa?

FXPesa is a Kenyan broker run by EGM Securities (CMA 107), part of the Equiti group. It was built around M-Pesa, with instant deposits and fast mobile withdrawals, and accounts start from $5. Much of the published detail is from 2021, so check current terms.

Founded2019
🇰🇪 CMALicence 107
🇿🇦 FSCAChecking
Minimum deposit$5
M-PesaReported

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

Is FXPesa (Equiti) regulated? Licence by country

🇰🇪 KenyaCMA licence 107

Regulator: Capital Markets Authority (CMA)
Local company: EGM Securities Limited
Licence number: 107
M-Pesa: Reported by Kenyan sources

🇿🇦 South AfricaLicence not yet verified

Regulator: Financial Sector Conduct Authority (FSCA)
Local company: Not yet verified
Licence number: —

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

About FXPesa (Equiti)

Founded 2019 · Head office: Nairobi, Kenya

FXPesa is the Kenyan brand of EGM Securities Limited, which holds CMA licence 107. It is part of the Equiti group, whose UK company is regulated by the FCA.

Unlike global brokers that added M-Pesa later, FXPesa was set up for Kenyan traders from the start, with mobile money as the default way in and out.

Who FXPesa (Equiti) suits, and who should look elsewhere

Good fit if you

want a Kenyan-headquartered, CMA-licensed broker
fund and withdraw mainly through M-Pesa
start with a small balance

Look elsewhere if you

need MetaTrader 5 (not offered in older reviews)
want a broker licensed in South Africa

FXPesa (Equiti) account types and minimum deposit

Account	Minimum deposit	Pricing
Executive	$5	Spreads from 1.4 pips, no commission
Premier	$100	Tighter spreads, from 0 pips

Account details from a 2021 review; confirm current terms with FXPesa.

Leverage: Up to 1:400 on currency pairs.

FXPesa (Equiti) fees: spreads, commission and other charges

M-Pesa deposits	Instant, no FXPesa fee
M-Pesa withdrawals	About three hours, free
Skrill / Neteller withdrawals	1%, capped at $30
Inactivity fee	After 180 days without activity (amount not published)

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

FXPesa (Equiti) deposits and withdrawals in Kenya and South Africa

🇰🇪 Kenya · M-Pesa

Licensed company: EGM Securities Limited (FXPesa), CMA licence 107.
M-Pesa deposits are instant and free; mobile withdrawals take about three hours, per DayTrading.com and Kenyan Wall Street.

🇿🇦 South Africa

No South African licence found. FXPesa serves Kenya.

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

FXPesa (Equiti) trading platforms

Is your money safe with FXPesa (Equiti)?

Locally licensed by the CMA, with its head office in Nairobi.
Older reviews note no negative balance protection; ask FXPesa what applies today.

FXPesa (Equiti) pros and cons

Pros

Kenyan company with a CMA licence
M-Pesa built in
$5 minimum

Cons

Limited recent independent reviews
No South African licence
MT5 not listed in older reviews

Our real-money test of FXPesa (Equiti)

Coming

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

FXPesa (Equiti) withdrawal time: reports from traders

How long do FXPesa (Equiti) 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 FXPesa (Equiti)? Get a ready complaint letter and the right regulator contact with our complaint desk →

FXPesa (Equiti): questions people ask

Is FXPesa (Equiti) regulated in Kenya?

Yes. In Kenya, FXPesa (Equiti) operates through EGM Securities Limited, which holds CMA licence 107. Check that this company is named on your client agreement, not an offshore company of the same brand.

Is FXPesa (Equiti) regulated by the FSCA in South Africa?

Not confirmed. We have not yet matched FXPesa (Equiti) to an FSCA licence number, so it gets no “Visit” button for South Africa until we do.

What is the FXPesa minimum deposit?

$5 on the Executive account and $100 on Premier, according to a 2021 review.

Does FXPesa accept M-Pesa?

Yes. M-Pesa deposits are instant and free.

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.