A solid choice for diverse traders in Africa and beyond
EGM Securities is a strong option for traders seeking a regulated broker with a wide range of instruments and flexible account types. Its strongest advantage lies in its robust multi-jurisdictional regulation and comprehensive platform offering. However, the unconfirmed status of some regulatory licenses and international withdrawal fees are points to consider. We recommend EGM Securities, especially for traders in regions where local payment methods are a priority.
| Regulation | CMA, FCA, CySEC, FSA Seychelles |
| Founded | 2018 |
| Headquarters | Kenya |
| Minimum Deposit | $0 |
| Maximum Leverage | 1:400 |
| US Clients | Not accepted |
| EUR/USD Spread | 0.1-0.2 pips (Premier) |
| Trading Platforms | MT4, MT5, Equiti Trader, WebTrader |
| Instruments | Forex, Commodities, Shares, Indices, ETFs, Cryptocurrencies |
| Deposit Methods | Cards, Bank, Crypto, e-wallets, Mobile Money |
| Withdrawal Time | Instant (local) to 1-5 days |
| Customer Support | 24/6 via WhatsApp, Phone, Email |
| Website | egmsecurities.com |
Capital at risk. CFD trading involves significant risk. This may be an affiliate link.
Our Full Rating Breakdown
Our scoring methodology evaluates brokers across key areas important to traders, including regulatory oversight, trading costs, platform functionality, available instruments, and funding options. We aim for a balanced assessment based on verifiable data.
Is EGM Securities Regulated & Safe?
EGM Securities operates under a multi-regulatory framework, holding licenses from the Capital Markets Authority (CMA) of Kenya, the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority (FSA) Seychelles. This diverse regulatory portfolio provides varying levels of client protection. While some licenses are strong, we could not confirm all registrations on public registers.
- Regulator
- CMA Kenya, FCA UK, CySEC, FSA Seychelles
- License Number
- 107 (CMA), 528328 (FCA)
- Tier
- Tier 1 (FCA, CySEC), Tier 3 (CMA, FSA Seychelles)
- Client Fund Segregation
- Yes
- Compensation Scheme
- FSCS up to £85,000 (FCA), ICF up to €20,000 (CySEC)
- Negative Balance Protection
- Yes
- Founded
- 2018
- Headquarters
- Kenya
EGM Securities has issued a warning regarding potential confusion with 'Eagle Global Markets (EGMarkets or EGM)'. This unrelated entity was flagged for fraudulent activity and is unlicensed. Traders should ensure they are dealing with EGM Securities (egmsecurities.com) to avoid scams.
Always verify a broker's license directly on the regulator's official website, especially when dealing with entities operating under multiple jurisdictions.
EGM Securities does not accept clients from the United States.
Fees, Spreads & Commissions
EGM Securities offers a dual fee structure across its account types, catering to different trading styles. The Premier account provides raw spreads with a commission, which can be attractive for high-volume traders. The Executive account, on the other hand, features wider spreads but charges no commission per trade. This approach allows traders to choose a cost model that best fits their strategy.
| Instrument | Premier Account | Executive Account |
|---|---|---|
| EUR/USD | 0.2 pips | 1.4 to 3.3 pips |
| GBP/USD | 0.1 – 0.4 pips | 1.4 pips |
| USD/JPY | 0.0 pips | 1.9 pips |
| Gold XAUUSD | 0.0 – 0.20 pips | 0.30 – 0.50 pips |
The Premier account's commission of $7 per lot round-turn is clearly stated, providing transparency for cost calculations.
Swap fees apply for positions held overnight past 17:00 EST / 21:00 GMT, with triple swaps on Wednesday nights. Islamic accounts are swap-free but may incur administrative fees after a grace period.
Account Types Explained
EGM Securities offers a range of account types designed to accommodate various trading preferences and capital levels. The Executive account is ideal for beginners with its low minimum deposit and commission-free trading, while the Premier account targets experienced traders with tighter spreads and a commission structure. Both accounts offer Islamic (swap-free) options, providing flexibility for different religious requirements.
- Commission-free trading
- NDD (STP/ECN) execution
- Islamic account available
- Raw spreads (0.0 pips)
- ECN execution
- Islamic account available
Account Comparison
| Feature | Executive Account | Premier Account |
|---|---|---|
| Min Deposit | $0-$15 | $100 |
| Spread From | 1.4 pips (EUR/USD) | 0.0 pips (raw) |
| Commission | $0 | $7 per lot round-turn |
| Max Leverage | 1:400 | 1:400 |
| Instruments | Over 2000 | Over 2000 |
| Account Currency | USD | USD |
EGM Securities offers a demo account, allowing traders to practice strategies without financial risk before committing to a live account.
Trading Platforms & Tools
EGM Securities provides a comprehensive suite of trading platforms, including the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5), alongside their proprietary Equiti Trader mobile app and a WebTrader. This selection caters to various trader preferences, from those who rely on advanced algorithmic strategies to those seeking convenience for on-the-go trading. The platforms offer robust charting and analysis tools.
Platform Feature Comparison
| Feature | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) | Equiti Trader App |
|---|---|---|---|
| Platform Type | Desktop, Web, Mobile | Desktop, Web, Mobile | Web, Mobile |
| Primary Focus | Classic forex and CFD trading | Advanced multi-asset trading | Smooth mobile-first user experience |
| Timeframes | 9 timeframes | 21 timeframes | Standard mobile timeframes |
| Indicators | 30 built-in tools | 38 built-in tools | Simplified essential indicators |
| One-Click Trading | Available | Available | Available |
Deposits & Withdrawals
EGM Securities offers a wide array of deposit and withdrawal methods, including traditional options like credit/debit cards and bank transfers, alongside modern solutions such as crypto wallets and popular e-wallets. Notably, they support local mobile money options like M-Pesa and Airtel Money, which provide instant processing for deposits and withdrawals in East Africa. While the broker does not charge fees for most deposits, international wire transfers for withdrawals incur a fee.
| Payment Method | Deposit Speed | Withdrawal Speed | Broker Fee |
|---|---|---|---|
| Credit, Debit Card | Instant | 1-3 business days | None |
| Bank Transfer | 1-5 business days | 1-5 business days | $16.50 (international wire) |
| Crypto wallets | Instant | Instant | Network fee |
| Skrill | Instant | 1-2 business days | None |
| Neteller | Instant | 1-2 business days | None |
| M-Pesa | Instant | Instant | None |
| Airtel Money | Instant | Instant | None |
For faster and potentially fee-free transactions, consider using local mobile payment options like M-Pesa or Airtel Money if available in your region.
Education, Research & Analysis
EGM Securities places a strong emphasis on trader education through its FXPesa Academy, which offers a robust program of free webinars, seminars, and networking events across East Africa. This initiative has reached a significant number of traders since 2021, indicating a commitment to fostering informed trading. Beyond formal education, the broker also provides essential research tools and an economic calendar to support daily trading decisions.
The FXPesa Academy is a significant educational offering, particularly for traders in East Africa, providing valuable in-person and online learning. The inclusion of basic research tools and an economic calendar further supports traders in their analysis.
Frequently Asked Questions
Is EGM Securities a regulated and safe forex broker for trading?
Yes, EGM Securities operates under regulation from multiple authorities, including the CMA of Kenya, the FCA in the UK, CySEC, and the FSA Seychelles. They segregate client funds and offer negative balance protection, enhancing safety for traders.
What is the minimum deposit required to open an account with EGM Securities?
The minimum deposit for an Executive (Standard) trading account with EGM Securities is $0-$15. For the Premier account, a minimum deposit of $100 is required. Localized funding options like M-Pesa may have a minimum of approximately $5 (KES 800).
What are the typical spreads and commissions offered by EGM Securities?
EGM Securities offers typical EUR/USD spreads from 1.4 pips on its Executive account with no commission. The Premier account provides raw spreads from 0.0 pips (typically 0.1-0.2 pips for EUR/USD) but charges a commission of $7 per lot round-turn.
Which trading platforms does EGM Securities provide to its clients?
EGM Securities offers several trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), their proprietary Equiti Trader mobile app, and a WebTrader. These platforms support various trading styles, including expert advisors and copy trading.
How long does it take to process withdrawals from EGM Securities?
Withdrawal processing times with EGM Securities vary depending on the payment method. Local mobile payment options like M-Pesa and Airtel Money are processed instantly, while other methods such as credit/debit cards and bank transfers typically take 1 to 5 business days.
Does EGM Securities offer an Islamic or swap-free trading account?
Yes, EGM Securities provides Islamic (swap-free) account options for both its Executive and Premier trading accounts. These accounts do not incur swap fees for positions held overnight, though administrative fees may apply after a 5-7 day grace period for certain assets.
Can clients from the United States open a trading account with EGM Securities?
No, EGM Securities does not accept clients from the United States. Their services are not available to US residents due to regulatory restrictions.
What type of traders is EGM Securities best suited for?
EGM Securities is well-suited for traders seeking strong regulation and diverse instrument access, particularly those in East Africa benefiting from local payment methods and extensive educational resources. Its varied account types also cater to both beginner traders and experienced professionals looking for competitive pricing.
Why Choose EGM Securities?
EGM Securities is a strong option for traders seeking a regulated broker with a wide range of instruments and flexible account types. Its strongest advantage lies in its robust multi-jurisdictional regulation and comprehensive platform offering. However, the unconfirmed…
- Strong regulatory oversight from multiple authorities
- Competitive spreads and commissions on Premier account
- Access to MT4, MT5, and proprietary trading apps
Capital at risk. CFD trading involves significant risk.
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