Is Exness Regulated in Kenya? CMA License, Local Entity & Trader Protection

⚠️ Notice for Kenyan readers. This guide is educational. It is not financial, tax or legal advice. Leveraged forex and CFDs are high-risk, and most retail clients lose money. Regulations, licences and payment options change, so confirm every detail with the Capital Markets Authority (CMA), your bank or mobile-money provider and a qualified adviser before you trade.

Is Exness regulated in Kenya? For many Kenyan traders, this is the first question, and the second is "how do I know that's true?". This guide answers both, in order. You will learn what Exness says about its Kenyan entity, what the Capital Markets Authority licence does and does not cover, how to check any broker on the CMA register in minutes and how to protect yourself from the many unlicensed operators and impersonators that target Kenyans. 🇰🇪

Karibu: you can Select Kenya at Exness sign-up and read the entity named in your agreement, choose Kenya as your country of residence and read the client agreement. The company named on the first page is the one that matters.

🧭 The Short Answer

• ✅ Exness states that it has a Kenyan entity, Exness Kenya Limited, which it describes as licensed by the Capital Markets Authority (CMA) as an online foreign exchange broker. Verify the licence on the CMA's public list of licensed institutions.
• 🏛️ Under Kenyan rules, an online forex broker serving Kenyan residents must hold a CMA licence. Unlicensed operators are not allowed to solicit Kenyan clients.
• 💵 Exness says it supports local funding options for Kenya, which may include mobile money and bank routes. Availability changes, so check your client area.
• ⚠️ A licence regulates how the firm behaves. It does not protect you from market losses, and it does not make leverage safe.

🏛️ What the CMA Does

The Capital Markets Authority regulates Kenya's capital markets, including licensed intermediaries such as brokers, dealers and investment advisers. For online foreign-exchange brokers, the CMA introduced a licensing regime so that firms offering forex trading to Kenyan clients must meet requirements such as capital adequacy, client money segregation, fit-and-proper tests for management, disclosure rules and reporting. The CMA also publishes lists of licensed firms and public warnings about unlicensed operators, including firms that clone or imitate licensed names.

What that means in practice for a client of a licensed entity:

• 🧾 Client money rules: client funds should be held separately from the firm's money.
• 📢 Disclosure and conduct rules: risk warnings, honest marketing and fair dealing.
• 🧑‍⚖️ A regulatory route: you can complain to the firm, then raise the matter with the CMA.
• 🛟 Investor compensation: Kenya has a compensation fund framework for capital-markets investors, but you must check whether and how it applies to forex clients of your entity. Do not assume.

🔍 How to Verify Any Broker on the CMA Register

1. 🌐 Go to the CMA's official website and open the page listing licensed market intermediaries or online foreign exchange brokers.
2. 🔎 Find the exact company name printed in your client agreement. A similar name is not enough.
3. 📄 Check the licence category and status. Confirm it is current.
4. 🌍 Check the website address or trading name linked to the licence, if shown.
5. 📸 Take a dated screenshot for your records.
6. 🚨 Search the CMA's public notices and warnings for the firm's name and for any cloned versions.

To see how a second broker shows its Kenyan licence, you can Check Pepperstone's Kenyan entity on its official regulatory page and repeat the same checks with its legal footer and the register.

🧩 Local Entity Versus International Entity

Large brokers operate through several entities. A Kenyan resident should be served by the licensed Kenyan entity, whose rules include the CMA's requirements. An international entity registered in an offshore jurisdiction may offer higher leverage, but it would not carry the same local licence, and the CMA does not supervise it for Kenyan clients. If a broker offers you an offshore account while you live in Kenya, ask why and read the risk warning. Where the law requires a local licence, using an unlicensed entity may leave you without local protection.

Practical checks:

• Does the contract name the Kenyan company?
• Does the register show that company as licensed now?
• Are the leverage limits and risk warnings consistent with a regulated retail offering?
• Does the complaints section mention the CMA?

🪙 Funding and Withdrawing in Kenyan Shillings

Many Kenyan traders want to fund in KES. Typical options, which vary over time and by entity, include mobile-money services such as M-Pesa, bank transfers, cards and e-wallets. Practical points:

• 📲 Use your own M-Pesa number and your own bank account. The name must match your verified profile.
• 💱 Check conversion: the platform may convert KES to the account currency at a stated rate. Compare it with the market rate.
• 🧾 Keep every message and receipt, including M-Pesa confirmation codes.
• ⏳ Test with a small amount first.
• 🔁 Withdraw by the same route where possible, and note the time.
• 🚫 Never send money to an agent's personal number for "deposits". Real deposits happen inside your client area.

Mobile-money limits and fees are set by your provider and may change. Read the current tariffs.

🧾 Documents Kenyan Clients Should Prepare

• 🪪 National ID or passport, valid and clear. Many Kenyans use the national ID card.
• 🏠 Proof of residence: a recent utility bill, bank statement or official letter showing name and address.
• 💳 Payment proof: the name on the M-Pesa line, bank account or card must match your profile.
• 🧾 KRA PIN is useful for tax records, even if the broker does not ask for it.

Make sure the spelling of your name is identical on all documents. Differences in order, spelling or initials are the most common reason for verification delays.

💼 Tax: Understand It Before You Profit

Income earned from trading may be subject to income tax in Kenya, and the Kenya Revenue Authority (KRA) administers it. The treatment of different instruments and the rules on withholding, digital-service taxes or other charges have changed over the years. Practical steps:

• 📒 Keep statements and records for every deposit, withdrawal and closed trade.
• 🧮 Separate gains and losses by tax year.
• 💬 Speak to a registered tax practitioner about whether and how your trading income should be reported.
• 🔄 Re-check each year, since the Finance Act can change rules.

Do not rely on forum advice. A short consultation with a professional is cheaper than a penalty.

🚨 Scam Patterns That Target Kenyan Traders

Kenya's fast-growing retail trading scene has attracted many fraudsters. Know the patterns:

• 📲 WhatsApp and Telegram "mentors" who promise guaranteed profit, show fake screenshots and ask you to deposit through their link.
• 🏦 "Account managers" who contact you first and offer to trade on your behalf.
• 🪞 Clone sites with names similar to licensed brokers.
• 📞 Fake CMA calls or messages claiming you must pay a fee to release funds.
• 💳 Deposit to a personal number or "agent" for a "faster" credit.
• 🏆 Pyramid-style schemes that pay you to recruit friends.
• 🔁 Recovery scams that charge upfront to retrieve money from earlier fraud.

Rules that protect you: never pay anyone who contacts you first, never share passwords or one-time codes, never lend your account, and check any firm on the CMA's lists before you send money.

🧠 What Regulation Cannot Do for You

Regulation lays down conduct rules and offers a route for complaints. It cannot:

• Prevent trading losses.
• Guarantee that every order is filled at your price.
• Replace your own risk management.
• Recover money sent to unlicensed fraudsters in all cases.

That is why your personal rules matter as much as the licence: small positions, stop-losses, a daily loss limit and no borrowed money.

🧩 Account Types and What Suits a Kenyan Beginner

Typical Exness account types include Standard Cent, Standard, Pro, Raw Spread and Zero, although the options and minimums depend on the entity. A beginner often does best with a demo first, then a cent or standard account with the smallest positions. The aim in the first three months is to build a process and a record, not to chase profit. If you want to understand how another licensed firm presents its Kenyan accounts, you can compare the product lists of Pepperstone Kenya or FP Markets, and apply the same questions about entity, licence and funding.

🕒 Trading Hours in East Africa Time

Kenya uses East Africa Time (EAT, UTC+3), which does not change during the year. Forex is open from Monday morning (Sydney session open, early Monday in Nairobi) through Friday night. Key windows:

• 🌅 Early morning (Tokyo and late Asian session): usually calmer for euro and dollar pairs; yen pairs are more active.
• ☀️ Late morning to afternoon (London session): liquidity rises for euro and sterling pairs. This overlaps comfortably with a Nairobi working day.
• 🌆 Afternoon to evening (New York session): the overlap between London and New York is typically the busiest and the most volatile. Major US data often lands in the afternoon or early evening in Nairobi.
• 🌙 Late night: thinner markets and wider spreads. Avoid unless you have a plan.

Many working Kenyans trade the London morning or the afternoon overlap in short, planned sessions.

💡 Risk Management Tailored for a Smaller Kenyan Account

Many Kenyan traders begin with a few thousand shillings. That is possible, but it demands discipline. A framework:

1. Choose a loss budget: an amount in shillings you could lose entirely without harm.
2. Set risk per trade at one percent or less of the account.
3. Place a stop-loss on every trade and calculate the position from the stop distance.
4. Set a daily loss limit of about two percent and stop when you reach it.
5. Trade fewer, better setups, since costs weigh more on small accounts.
6. Use a cent account if the minimum lot is too large for your risk rules.
7. Never borrow from friends, SACCOs, mobile loans or credit to fund trading.

A worked example, with invented numbers for illustration: an account of KES 20,000, one percent risk equals KES 200. If your stop is 20 pips and one pip on the smallest lot of a major pair is worth roughly KES 130 (depends on the exchange rate), the risk at that size is about KES 2,600, which is far above KES 200. A cent account, where each lot is a hundredth of a standard cent-lot value, makes a position near the KES 200 limit possible. This shows why account type and size must match risk rules.

📈 Scenario: Wanjiru's First Three Months

Wanjiru, a teacher in Nakuru, wants to try forex as a side skill. She starts with a demo for four weeks, writing a one-page plan: trade only EURUSD in the London session, risk one percent, maximum two trades a day. In week five she opens a cent account with a small amount she can afford to lose. She funds it from her own M-Pesa line and keeps every confirmation message. In week six she withdraws a small amount to test the time and the fees. After three months, her balance has barely changed. She has a journal of 60 trades, knows her average cost per trade and has discovered that she loses more when she trades after 8 pm. She stops trading late and decides to continue at the same size for another three months. Wanjiru did not "win", but she learned in a controlled, affordable way, which is how most successful traders begin.

🧱 Scenario: Brian and the WhatsApp "Mentor"

Brian, a student in Nairobi, receives a message from a "mentor" on WhatsApp who promises KES 50,000 profit from KES 10,000 in a week. He sends a link to a website that looks like a broker, shows a fake balance rising and asks Brian to deposit through a personal M-Pesa number to "activate VIP". Brian pauses and checks the CMA website. The company name is not listed, and the website is not the one linked to any licensed firm. He blocks the number and reports it. Brian avoided a scam because he followed three rules: never pay a person who contacts you first, never deposit to a personal number and always check the CMA register.

🔄 If You Have Already Sent Money to a Fraudster

• 🛑 Stop sending money. More payments will not unlock earlier ones.
• 📸 Collect evidence: chats, receipts, M-Pesa codes, website addresses, phone numbers.
• 📞 Contact your mobile-money provider or bank immediately and ask about reversal or investigation options.
• 🏛️ Report to the police (DCI cybercrime unit) and to the CMA if the scheme claims to be a broker.
• 🧾 Warn friends and family so they do not fall for the same trap.
• 🚫 Ignore "recovery" agents who ask for upfront fees. They are a second scam.

🛠️ Platforms and Mobile Use

Exness offers MetaTrader 4, MetaTrader 5, a web terminal and a mobile app. For Kenyan traders, mobile data is often the main connection, so a few precautions help:

• Use a reliable data bundle and keep a backup connection.
• Keep your phone charged and avoid trading in low-signal areas with open positions.
• Always use stop-losses so that positions are protected if the connection drops.
• Install apps only from official stores and the broker's official links.
• Turn on biometric lock and two-step verification.
• Avoid trading on shared or public Wi-Fi.

Check data costs, since charts and constant price updates can use a lot of bundle, especially with many symbols open.

🧮 Costs You Should Count in Shillings

• Spread and commission charged by the broker.
• Swap for holding positions overnight.
• Mobile-money fees and bank charges on deposits and withdrawals.
• Exchange-rate margin if the platform converts KES to another currency.
• Internet costs.
• Taxes on profits, according to current law.

Add these up each month in a simple spreadsheet. The "all-in" cost of trading is often larger than the spread alone suggests, particularly for small accounts.

🧑‍⚖️ Complaints: How to Escalate in Kenya

If something goes wrong with a licensed broker, follow a clear sequence:

1. Contact support in writing through the client area. Give dates, amounts, ticket numbers and a precise description. Ask for a reference number.
2. Wait for the stated response time, then follow up politely.
3. Use the formal complaints procedure in the client agreement. Send the complaint to the address or email stated there.
4. Escalate to the CMA if the response is unsatisfactory. Provide your documents, the broker's replies and a timeline.
5. Consider legal advice for larger sums. Small-claims routes and arbitration clauses vary, so read your agreement.

Stay factual and calm. Avoid posting personal details publicly, which can invite scammers who offer "help".

🧭 Is a Kenyan Licence Better Than an Offshore One?

For a Kenyan resident, a CMA-licensed entity gives you a local regulator, local rules and a local complaints path. An offshore entity might offer higher leverage and different products but leaves you with a more distant, harder-to-use regulatory route. Neither choice removes market risk. If you choose the local entity, you accept lower maximum leverage and more disclosures in exchange for a clearer regime. If you consider an offshore entity, read its documents carefully, understand that the CMA does not supervise it for Kenyan clients and ask yourself whether you are comfortable with the trade-off. The law may require a local licence for services provided to Kenyan residents.

🧪 A Fourteen-Day Verification and Test Plan

Days 1–2: read the client agreement, note the entity name, search the CMA list, save screenshots.

Days 3–5: open a demo, measure spreads in the London session, practise placing stops.

Days 6–7: prepare ID, proof of address and payment details, and complete verification.

Days 8–9: make a small deposit through your own M-Pesa line or bank account. Record the rate and fees.

Days 10–11: place minimum-size trades with strict stops.

Day 12: request a small withdrawal and record timing.

Days 13–14: review your journal, calculate costs and decide whether to continue.

🧱 A Quick Comparison Mindset: Licensed Brokers Serving Kenya

Several international brokers hold CMA licences or serve Kenyan clients through local entities. When comparing them, check for each: the exact Kenyan entity name and licence number, the account types and minimums, the funding methods in KES, the platforms, the leverage limits, the complaint route and the withdrawal process. Do not compare only spreads. A broker with slightly higher spreads but a smoother M-Pesa experience and faster withdrawals might suit you better. Keep your comparison table and update it every few months.

🧠 Psychology and Money Pressure

Economic pressure and the promise of quick money make forex marketing powerful in Kenya. Be honest about your motivation. If you need money for rent, school fees or emergencies, trading is not the answer, because pressure leads to oversized positions. Treat early capital as the cost of learning. If you notice that trading is causing stress, secrecy or arguments, stop and talk to someone you trust. There are counselling and financial-literacy services available, and seeking help is a sign of strength.

📚 Glossary for Kenyan Readers

• CMA: Capital Markets Authority, the regulator of Kenya's capital markets.
• KRA: Kenya Revenue Authority, the tax authority.
• KES: Kenyan shilling.
• EAT: East Africa Time, UTC+3.
• M-Pesa: the mobile-money service widely used for payments.
• Lot: a unit of trade size.
• Pip: the standard smallest price increment in most currency pairs.
• Margin call: a warning that your equity is near the level needed to hold positions.
• Stop-out: automatic closing of positions at a set margin level.

🏘️ Four Kenyan Trader Profiles and Sensible First Steps

The university student in Eldoret

A student with a small allowance should treat trading as an educational project. Start with a demo for at least a month, write simple rules, and only then consider a cent account funded with money you can afford to lose entirely. Avoid group chats that promise quick profit. Use study time, not tuition money or loan funds.

The salaried employee in Nairobi

An employee with a steady income can set a monthly budget for learning. Use the London session before work or the afternoon overlap after lunch, take two or three planned trades at most, and avoid checking charts during meetings. Keep records for tax. Do not use salary advances or mobile loans.

The boda boda or small-business owner in Kisumu

Business cash is for stock and operations, not for trading. If you have savings beyond your business needs and emergencies, set a small limit for practice. Avoid mixing business and trading accounts. Do not let a bad trading day affect payroll or supplier payments.

The diaspora Kenyan sending money home

If you live abroad, your residency and tax status differ from those of a Kenyan resident. The broker's entity and your applicable regulator may also differ. Check the rules of the country where you live, and consider tax in both countries. Use accounts in your own name.

🧩 Understanding Leverage Under a Licensed Regime

Licensed retail offerings usually apply conservative leverage limits compared with offshore options, and they come with clear risk warnings. Lower leverage helps beginners survive their learning curve, because positions are smaller relative to the account. If you hear that "serious traders need 1:2000", ask yourself whether that claim comes from someone who earns from your volume. Position size based on your stop distance and risk per trade matters more than the maximum leverage. A trader who risks one percent per trade rarely needs extreme leverage.

📊 A Simple Weekly Routine for a Working Kenyan Trader

• Sunday evening: open the economic calendar, note high-impact events for the week and mark key levels on a daily chart.
• Monday to Friday, morning: one focused session during the London open if your schedule allows. Maximum two trades.
• Afternoon: check open positions once. Do not add to losing trades.
• Evening: update your journal with screenshots, notes and the day's result in multiples of risk.
• Friday: reduce size before the weekend and avoid fresh positions late in the session.
• Saturday: review the week, compute costs, and decide on one improvement.

This routine keeps trading from taking over your life and protects against overtrading.

🔬 Reading the CMA Register Without Getting Lost

The CMA publishes lists of licensed entities on its website, usually grouped by category: stock brokers, investment banks, fund managers, online foreign exchange brokers and so on. Navigate to the category that matches forex or CFD brokers. When you find your broker's Kenyan company, check several details. Is the company name identical to the one in your agreement, including "Limited"? Is the status shown as current? Is the licence category appropriate for online forex? If the list shows a website or trading name, does it match the domain you are using? If anything is missing or different, write to the broker's support and ask for clarification, and consider contacting the CMA directly using the contact details on its official site.

Remember that lists may be updated at intervals, and a very recent change might not appear instantly. If you cannot find an entity, do not assume it is licensed. Ask for the licence number and verify by contacting the CMA.

🧯 Practical Steps If Your Broker's Status Changes

Licences can be suspended, varied or withdrawn. If you receive notice that your broker's Kenyan licence status has changed, read the notice carefully, check the CMA's own notices and look at what the broker says about your funds and positions. Prepare to withdraw funds in an orderly way if there is uncertainty. Keep copies of everything. Do not panic-trade, and do not deposit more until the situation is clear. If the broker's response is not satisfactory, escalate in writing to the regulator.

📞 Contacting the CMA and Other Authorities

For verification, warnings and complaints, use the contact details published on the CMA's official website. If you suspect a crime, such as fraud, report it to the police, including the Directorate of Criminal Investigations cybercrime unit. For disputes about mobile-money transactions, contact your provider first. For tax questions, use the KRA's official channels. Avoid using phone numbers or email addresses you received in unsolicited messages, since impersonation of authorities is a known scam tactic.

🌱 Growing Responsibly Over the Long Term

The traders who last are rarely those who earned the most in the first month. They are the ones who built habits: keeping records, respecting limits, learning from losses, managing stress and staying away from schemes. If you treat trading as a long-term craft, your licence checks, small-deposit tests and withdrawal tests become part of a stable routine rather than a one-time effort. Over a year, that routine will do more for you than any single strategy.

🧱 Costs of a Typical Month: A Kenyan Illustration

The numbers below are invented and only demonstrate the method; use your own. Suppose you trade a cent account with a balance of KES 15,000. In a month you place 24 trades. Average spread cost per trade is KES 8. Your M-Pesa deposit fee was KES 50, and the withdrawal fee was KES 70. Your data bundles for trading cost KES 400. Swap for a few overnight trades adds KES 60. Total cost: 24 × 8 = KES 192, plus 50 plus 70 plus 400 plus 60, which gives KES 772. On a balance of KES 15,000, that is about 5.1 percent of the account, in a single month, before any profit or loss from the market. That is a high hurdle. It tells you that a small account should trade less often, avoid unnecessary deposits and withdrawals and keep an eye on non-trading costs such as data. It also reminds you to include those costs when you judge your results.

🧾 A Template for Your Monthly Review

• Starting balance and ending balance
• Deposits and withdrawals, with fees
• Number of trades, wins, losses
• Average win and average loss
• Largest losing day
• Total costs: spread, commission, swap, data, fees
• Rule breaches (trades without a stop, oversize trades, trades after your daily limit)
• One lesson and one change for next month

Fill it in every month and keep the files. If the pattern shows costs larger than profits, reduce trading frequency or reconsider your approach before adding more money.

🌍 For Readers Outside Kenya

If you are reading from another country, the specifics about the CMA, M-Pesa and KRA will not apply, but the method will. Identify your own regulator, find its public register, verify your broker's entity, check local rules on forex advertising and taxes, confirm payment methods in your own currency and test with small amounts. The same sequence protects traders everywhere.

🗣️ Words to Use When You Contact Support From Kenya

Clear, specific messages get faster answers. Use a structure such as: "Hello, I am a client in Kenya with account number ___. On [date and time, EAT] I made a deposit of KES ___ via M-Pesa with confirmation code ___. The amount has not appeared in my trading account. Please confirm the status and expected time of credit. I have attached a screenshot of the M-Pesa message with my balance hidden." Provide a reference number if you have one. Avoid sending passwords or full card numbers. Keep each ticket focused on one issue, and save the replies. If you need to escalate later, your records will show that you followed the proper channels.

🛡️ Protect Your Phone and Your SIM

Because many Kenyan traders use mobile money and mobile data, protect your phone and SIM. Set a PIN on your SIM, use a strong screen lock, keep your M-Pesa PIN private, and beware of SIM-swap fraud: if your phone suddenly loses service without explanation, contact your provider immediately. Do not install apps from unknown sources, and avoid clicking links in SMS messages claiming to be from your bank or the broker. Log out of trading apps if you lend your phone to someone. A compromised SIM can give criminals access to your accounts, so treat it as seriously as a bank card.

📝 One Last Checklist for Kenyan Readers

Before you fund any account, confirm that you can answer yes to each question: Have I matched the entity name in my agreement with the CMA list? Is the status current? Is the payment method in my own name? Do I understand the fees in shillings? Have I told my bank or mobile-money provider what I am doing if required? Is the amount within my loss budget? Do I have a stop-loss rule and a daily loss limit? Have I saved screenshots and records? If any answer is no, wait and fix it first.

❓ Frequently Asked Questions

Is Exness regulated in Kenya?

Exness states that its Kenyan entity, Exness Kenya Limited, is licensed by the CMA. Verify the licence on the CMA's public list and confirm that the entity named in your agreement is the licensed one.

Is forex trading legal in Kenya?

Online forex brokers serving Kenyans must be licensed by the CMA. Trading through a licensed firm is lawful, while unlicensed solicitation is not allowed.

Can I deposit with M-Pesa?

M-Pesa and other local methods may be available depending on your entity and time. Check your client area, and use only your own number.

What is the minimum deposit?

It depends on account type and payment method. Check the figure in your client area and convert to shillings including fees.

Are my funds protected?

Licensed firms must follow client-money rules. Check how those rules and any compensation arrangements apply to your entity. Protection does not cover trading losses.

How do I know a broker is licensed?

Search the CMA's list for the exact company name and confirm status and category. Check CMA warnings for clones.

What if I lose money to a scammer?

Stop paying, gather evidence, contact your bank or mobile-money provider, report to the police and the CMA and avoid recovery agents who ask for fees.

Do I pay tax on forex profits?

Income may be taxable. Consult a registered tax practitioner and keep records.

Can I trade with a very small account?

You can, particularly with a cent account, but profits will be small and risk rules must be strict.

🔒 Final Safety Reminder

Use only the official website and app, enable two-step verification, never share passwords or codes, and never deposit to a person's number. If a message promises guaranteed returns or pressures you to deposit quickly, it is a trap. Start small, test withdrawals and keep your stop-loss in place.

🏁 The Takeaway

Exness says it operates a CMA-licensed Kenyan entity, and the way to confirm that is simple: read the agreement, search the CMA register, save the evidence and compare the entity name and status. Licensing gives you a better framework than an unlicensed operator, but it does not remove market risk. Keep your size small, your records tidy and your guard up against anyone who contacts you first.

🔥 Your next move: open the CMA's licensed-institutions page in one tab and your client agreement in another, and confirm the match today. Compare the FP Markets Kenya licence details with your shortlist and then run the fourteen-day plan with a demo before you consider a real deposit. Karibu to careful, informed trading. 🇰🇪

*Educational information only; not financial, tax or legal advice. Licences, rules and payment options change. Verify everything with the CMA and official sources.*

📌 Important: CFD Risk Warning and Disclosure

CFDs and leveraged forex are complex instruments. Because you trade on margin, a small price move against you can remove a large part of your balance quickly, and a majority of retail traders lose money when trading CFDs. Before you open or fund any account, make sure you understand how leverage, margin, swaps and stop-outs work, and only trade with money you can afford to lose. Examples in this article are illustrations, not forecasts, and past performance is not a reliable guide to future results.

Disclaimer: this article is general information and education only. It is not financial, investment, tax or legal advice, and it is not a recommendation to open an account with any provider. Broker conditions, licences, payment methods and local laws change; confirm the current position on the broker's official website, with the relevant regulator and, where needed, with a qualified adviser.

🔗 Affiliate notice: we may earn a referral commission when readers open accounts via links here; your costs stay the same.