Forex EGM Securities Broker Review

Performance Matrix

Main Score & Risk Matrix

N/A

Score

2.4

Very Poor

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

License 2.6

Business 1.9

Risk Control 2.2

Software 2.9

Regulatory 2.4

Terminal Snapshot

EGM Securities Trading Conditions

Registered Region Kenya

Operating Period 5-10 years

Minimum Deposit $100

Spread N/A

Licenses N/A

Contact Email support@egmsecurities.com

Contact Number +254730676002

Website www.egmsecurities.com

Balanced Review

Pros & Cons

Pros

Regulated by the Capital Markets Authority (CMA) in Kenya
Diverse trading instruments including 61 currency pairs and CFDs
Accessible trading platforms: MetaTrader 4 and MetaTrader 5
Low minimum deposit requirement of KES 500
Offers an Islamic account for Muslim traders

Cons

Limited trading account types available
No cryptocurrency trading options
Slow customer support response times
Withdrawal fees for international transfers
Limited educational resources for traders

Compliance Desk

Regulatory Licenses

0.0/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature	EGM Securities	FXPesa	Mansa-X	AvaTrade
Operating Period	5-10 years	See review	See review	See review
Region	Kenya	See review	See review	See review
Minimum Deposit	$100	See review	See review	See review
Spread	N/A	See review	See review	See review
Trust Score	2.4/10	See review	See review	See review

Product Fit

Account Types

What Account Types and Fees Does EGM Securities Offer?

Account Type	Target User Group	Essential Characteristics	Applicability Notes
Executive Account	Beginners and retail traders	Low minimum deposit, no commission, competitive spreads	Suitable for those starting with a small capital
Premiere Account	Experienced traders	Low spreads, commission applies, higher minimum deposit	Best for traders seeking tighter spreads
Islamic Account	Muslim traders	Swap-free trading	Must adhere to sharia law
Demo Account	All trader levels	Risk-free practice environment	Ideal for practicing strategies without real capital

Account Opening Process

To open an account with EGM Securities, traders need to follow a simple process. First, they must provide their personal details, including full name, address, and country of residence. Next, employment and financial information should be submitted. Identity verification is essential, requiring an ID and proof of address. Once the account is created, traders have flexibility in their account type and can upgrade to a professional account later if desired.

Trading Fees

Product	Spread (pips)	Commission	Notes
Forex (EUR/USD)	1.6	$0 (Executive), $7 (Premiere)	Competitive spreads for both account types
CFDs (Stocks)	Varies	$7 per standard lot	Commission applies for stock CFDs
CFDs (Indices)	Varies	Varies	Check specific contracts for details
CFDs (Commodities)	Varies	Varies	Check specific contracts for details

Other Fees

EGM Securities does not charge deposit fees. However, there is a withdrawal fee of KES 1650 or $16.50 for international wire transfers. An inactivity fee applies after 180 days of no trading activity. Overnight positions incur swap rates, and currency conversion fees may apply for transactions made in different currencies.

Editorial Verdict

Expert Verdict

R

Research Desk

Senior Broker Analyst

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

EGM Securities User Reviews

3.0

★ ★ ★ ★ ★

4 total reviews

5 star

4%

4 star

4%

3 star

4%

2 star

20%

1 star

60%

Alem Salleh

Nairobi

★ ★ ★ ★ ★

EGM Securities has proven to be a reliable broker for me. The platform is user-friendly, and I appreciate the direct access to interbank market rates. Customer support is available most of the time, and I found the trading conditions quite favorable, especially for beginners. The only downside is the lack of promotional bonuses, but overall, I’m satisfied with my experience.

Kevin Kay

Mombasa

★ ★ ★ ★ ★

I have had an amazing experience with EGM Securities. Their MetaTrader 4 platform is excellent, allowing for smooth trades and efficient market analysis. The spreads are competitive, and I feel secure knowing they are regulated by the CMA. Customer service has been responsive whenever I’ve needed assistance, making my trading experience enjoyable.

Coolmoney

Kisumu

★ ★ ★ ★ ★

While EGM Securities offers a good trading platform, I have faced significant issues with withdrawals. It often takes longer than expected to access my funds, which has been frustrating. Additionally, the customer support response times can be slow, leaving me feeling unsupported during critical trading moments.

Mi Ifx

Nairobi

★ ★ ★ ★ ★

My experience with EGM Securities has been disappointing. The customer service is inadequate, and I have encountered delays with my withdrawal requests. This has caused a lot of stress, and I feel unsure about the reliability of the broker. I would not recommend them to others based on my experience.

Kenya Market