EGM Securities – Forex Brokers Review & Rating
EGM Securities is a popular forex broker among the traders in Kenya, one of the reasons being that it is regulated locally. EGM Securities is one of the only two Forex Brokers which is regulated by Kenya’s Capital Markets Authority (CMA). EGM Securities is a part of a global group of FX & CFD companies in various countries. Their parent company has offices in the Middle East, North America, Europe and Asia Pacific regions.
- Start year:2016
- Country of origin: Kenya
- Regulation: Capital Markets Authority (CMA Kenya)
- Payment options: bank cards, wire transfers, Skrill, Neteller, Mpesa – Lipa na Bonga – EazzyPay – Airtel money – eLipa – MTNMoney (UGX)
- Minimum account size:$200
- Minimum lot size:0.01 lot
- Leverage: 1:400
- Spreads: from 1.6 point (EUR/USD)
The First CMA Licensed Forex Broker in Kenya. EGM Securities Kenya’s First Non-Dealing Online Forex Broker based in Nairobi. EGM Securities is authorised and regulated by the Capital Markets Authority Kenya. EGM Securities are part of a global business that can deliver individual, corporate and institutional services through our decentralised international offices.
EGM Securities is the trading name of EGM Securities Limited (Company Registered No. PVT-AAAAFF7), which is authorised and regulated by the Capital Markets Authority, with its company registered address at 12th floor, Tower 2, Delta Corner Towers, Waiyaki Way, Westlands, Nairobi.
They are a Non-Dealing Desk (NDD) forex broker, so they provide direct access to Interbank market exchange rates. An NDD broker provides trade executions using either Straight Through Processing (STP) or Electronic Communications Network (ECN) or, sometimes, a hybrid of both. These technologies allow customers to directly trade with interbank rates, without any intermediaries. Thus, there is no conflict of interest between the NDD broker and their customers, which is normally the case with market maker brokers.
EGM securities provides trading on Forex, as well as trading CFDs on currency pairs, commodities, indices and metals. Their support is fair, not quite good as some other brokers though. We will talk about this more in our review. Their customer service is 24/6, and they have educational offerings like webinars, blogs and research tools.
Safety of funds
There is also safety of funds with EGM securities as the clients’ money segregation is a requirement from CMA. This means that all the client money is separate from the brokerage money. The funds of EGM securities are also held with a Top Tier Bank. Thus, this would give an additional assurance to the investors regarding their money being safe with EGM Securities.
- Executive account – created to meet your expectations. Minimum deposit $500. Executive Account provides easy access to the popular MetaTrader 4 trading platform; Market Order Execution; with more than 60 currency pairs to trade on. Non-Dealing Desk and ECN (Electronic Communication Network) technology. It integrates with more than a dozen of the top liquidity providers, giving you tighter spreads and faster execution.
- Premiere account – designed for trading gurus. Minimum deposit $5,000. As a professional-level trader you have individual requirements. That’s why at EGM Securities we offer the Premiere Account with competitive trading terms and a variety of services on each account type. Think Pro, Trade Pro. Optimise and apply your EA’s on the MT4 platform to automate your trading account freely. Get access to deep liquidity with institutional-level pricing from over 10 Tier 1 liquidity providers. Sophisticated order management options and advanced order types contribute to an enhanced trading experience on our Premiere platforms.
EGM Securities MT4 service, there’s no need to rely on any third party bridges. Our robust systems are well engineered to cope with the demands of large numbers of trades and our MT4 platform is well-equipped to handle increasing volumes of traffic.
- Web and mobile trading
- A broad range of tradable pairs
- Responsible leverage
- Research and analysis tools
- Trading skills development
- Multilingual customer support
Deposits & Withdrawals
At EGM Securities, making deposits and withdrawals is extremely simple and straightforward and takes up very little of your time. It is our constant endeavour to offer you a wider array of deposit and withdrawal options and to make the process even easier. If you have any further queries, please contact our Client SupportTeam firstname.lastname@example.org.
Wire/Bank Transfer, Debit/Credit Cards, Mpesa – Lipa na Bonga – EazzyPay – Airtel money – eLipa – Mastercard, Visa – MTNMoney – (UGX), Skrill & Neteller
Is EGM Securities Safe..?
Yes. They are regulated by Kenya’s regulatory body, Capital Markets Authority of Kenya (CMA). This is a very important aspect of EGM securities as it provides assurance to Kenyan investors with the sense of security due to regulations by a local authority.