Is JustMarkets Regulated in Kenya? Everything You Need to Know (2025)

If you're wondering “Is JustMarkets regulated in Kenya?”, the short and straightforward answer is: No, JustMarkets is not currently regulated by the Capital Markets Authority (CMA) of Kenya. That means JustMarkets is not officially licensed to operate as a forex broker under Kenyan financial regulations, and traders in Kenya are using its services at their own discretion through its international license. Now that you have the answer, let’s explore what this means, why it matters, and what Kenyan traders should know before using JustMarkets in 2025.

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What Is JustMarkets?

JustMarkets (formerly known as JustForex) is a global online forex and CFD broker that offers access to currency pairs, commodities, indices, and cryptocurrencies. It’s known for:

·         Competitive spreads

·         Multiple account types

·         High leverage options (up to 1:3000)

·         MetaTrader 4 and 5 platforms

JustMarkets serves clients from various regions, including Africa, and has been gaining popularity in Kenya due to its user-friendly platform, mobile support, and flexible trading conditions.

Who Regulates JustMarkets?

As of 2025, JustMarkets operates under the entity "JFG Global Limited," which is regulated by the Financial Services Authority (FSA) of Seychelles with license number SD088.

This means:

·         It is offshore-regulated, not by a major financial center like the UK, EU, or Australia.

·         Its regulatory body (FSA Seychelles) has more relaxed requirements compared to regulators like the UK's FCA or Kenya’s CMA.

So while it’s technically licensed, this license does not apply to Kenya directly, and the CMA of Kenya does not regulate or supervise JustMarkets.

What Is the CMA and Why Is It Important?

The Capital Markets Authority (CMA) is the Kenyan government agency responsible for supervising and licensing financial service providers, including forex brokers.

When a broker is regulated by the CMA, it means:

·         The broker is authorized to operate in Kenya.

·         Client funds must be protected under local laws.

·         The broker follows Kenyan legal frameworks and is answerable to the CMA.

·         Traders have legal recourse through local courts if disputes arise.

Because JustMarkets is not regulated by the CMA, Kenyan traders do not enjoy these local protections when using the platform.

Can Kenyans Still Use JustMarkets?

Yes, Kenyans can still register and trade on JustMarkets, but there are important caveats:

1.      You’re trading through an offshore entity (Seychelles), which may not offer strong protections if a dispute arises.

2.      You are not protected by Kenyan law, because the broker is not licensed by the CMA.

3.      You assume higher risk when dealing with unregulated or offshore-regulated brokers, especially regarding fund security, withdrawals, and dispute resolution.

Many Kenyan traders continue to use JustMarkets due to its attractive features and promotional offers, but it's crucial to proceed with caution and awareness.

Is It Illegal to Trade with JustMarkets in Kenya?

No, it is not illegal for Kenyans to trade with JustMarkets.

However, here's the nuance:

·         The broker is not licensed in Kenya, so it does not officially have permission to target or advertise to Kenyan residents.

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·         But there’s no current law forbidding individual Kenyans from using foreign brokers like JustMarkets.

·         The CMA has issued public warnings in the past about trading with unlicensed brokers, and advises Kenyans to choose CMA-regulated platforms for better safety.

In short, you won’t get into legal trouble as a trader, but you are operating outside the CMA’s protection zone.

What Are the Risks of Using Non-CMA Regulated Brokers?

Using a non-CMA regulated broker like JustMarkets exposes Kenyan traders to several risks:

1. Lack of Legal Recourse

If something goes wrong (like a withdrawal issue or sudden account closure), you can't seek help through Kenyan courts or financial regulators.

2. Lower Client Fund Protection

Offshore regulators may not enforce strict rules for keeping client funds in segregated accounts or ensuring insurance coverage.

3. Weaker Transparency

There is often less oversight on how these brokers manage trades, execute orders, or report issues.

4. Aggressive Marketing

Unregulated brokers sometimes use misleading promotions, bonus traps, and unrealistic promises—because they don’t face the same advertising restrictions.

5. High Leverage and Risk

JustMarkets offers leverage up to 1:3000, which is attractive but dangerous. Regulated brokers in major jurisdictions cap leverage to protect retail investors.

How to Check If a Broker Is Regulated in Kenya

To confirm whether a forex broker is licensed in Kenya:

1.      Visit the CMA website: cma.or.ke

2.      Go to the “Licensees” section

3.      Check under “Online Forex Trading” or “Non-Dealing Online Forex Brokers”

4.      If the broker isn’t listed, they are not regulated in Kenya

JustMarkets is not on this list.

Alternatives to JustMarkets That Are Regulated in Kenya

If you're concerned about safety and regulation, consider CMA-licensed brokers. As of 2025, some of the regulated brokers in Kenya include:

·         EGM Securities (FXPesa)

·         Pepperstone Markets Kenya

·         Scope Markets Kenya

·         HotForex Kenya (HFM Investments)

These brokers:

·         Are registered with the CMA

·         Offer competitive trading conditions

·         Provide better legal protection for Kenyan traders

Final Verdict: Should You Trade with JustMarkets in Kenya?

✅ Pros of Using JustMarkets:

·         Easy registration process

·         Wide range of instruments

·         High leverage for experienced traders

·         Supports MetaTrader 4/5

·         Local deposit methods available (M-Pesa)

❌ Cons:

·         Not regulated by the CMA

·         No local legal protection

·         Operates under offshore regulation (Seychelles)

·         Potential withdrawal or dispute risks

·         Not subject to Kenyan financial consumer protection laws

Bottom Line:

If you're an experienced trader and understand the risks, you can use JustMarkets from Kenya. However, if you prioritize regulation, legal safety, and financial security, it’s better to go with a CMA-regulated broker.

FAQ: JustMarkets in Kenya

Is JustMarkets CMA-regulated?

No, JustMarkets is not regulated by the Capital Markets Authority (CMA) of Kenya.

Can I use JustMarkets in Kenya?

Yes, Kenyan traders can access JustMarkets’ services, but at their own risk.

Is it safe to trade with JustMarkets?

Relatively safe, but less so than with a broker licensed by a top-tier regulator like the CMA, FCA (UK), or ASIC (Australia).

Does JustMarkets accept M-Pesa?

Yes, JustMarkets supports M-Pesa deposits and withdrawals, making it convenient for Kenyan users.

What’s the legal status of using offshore brokers in Kenya?

It’s not illegal, but it’s also not regulated or protected by Kenyan law.

Final Thought

While JustMarkets remains a popular choice among Kenyan traders due to its flexibility and features, it's important to remember:

Regulation = Protection.

If you choose to use JustMarkets, do it with full awareness and caution. For those who value transparency and legal backing, a CMA-regulated broker may be the better choice.

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