Ipahco Ipahco
What the CMA licenses
Non-dealing online foreign exchange brokers
You go through it
A forex broker that passes your order out to the market instead of taking it on.
On the register as NON-DEALING ONLINE FOREIGN EXCHANGE BROKER
What it is

A non-dealing broker routes your order to liquidity providers and earns a commission or a mark-up on the spread rather than taking the other side of the trade.

The structural conflict a dealing broker has is absent here, which is the argument for it. The leverage, and everything leverage does, is the same.

How you deal with it

An online account with a licensed firm. The register is the thing to check: this is the corner of Kenyan finance with the heaviest advertising and the loosest relationship between advertising and licensing.

What the return is

No yield, for the same reason as any forex account: you are trading a price, not holding something that pays you. Costs are the spread and the commission, on every position.

Who holds this licence

The full list is on the regulator's own page, which is where it stays current.

See the live list at the CMA
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