EGM Securities Forex Broker

EGM Securities Forex Broker - Complete Information Guide

1. Broker Overview

　　EGM Securities Limited, founded in 2016, is a prominent forex broker based in Nairobi, Kenya. As the first non-dealing online forex broker licensed by the Capital Markets Authority (CMA) of Kenya, EGM Securities operates under the regulatory framework that ensures transparency and security for its clients. The broker is privately owned and is part of the larger Equiti Group, which has a global presence in various markets including the UK, UAE, and Jordan.

　　EGM Securities primarily serves retail traders, institutional clients, and corporate entities, providing a wide range of trading services. The company has achieved significant milestones since its inception, including the launch of the FXPesa brand, which has become a popular choice among Kenyan traders. EGM Securities has positioned itself as a reliable option for forex trading in the East African region, focusing on enhancing trading conditions and customer experience.

　　With a business model centered around retail forex and CFD trading, EGM Securities utilizes advanced technologies to facilitate smooth trade executions. The firm prides itself on offering competitive spreads, a variety of trading instruments, and robust customer support, making it a noteworthy player in the forex market.

2. Regulatory and Compliance Information

　　EGM Securities operates under the supervision of several regulatory authorities, primarily the Capital Markets Authority (CMA) in Kenya. The CMA license number is 107, which ensures that the broker adheres to strict guidelines aimed at protecting investor interests. Additionally, EGM Securities is part of the Equiti Group, which is regulated by multiple authorities including the Financial Conduct Authority (FCA) in the UK and the Jordan Securities Commission (JSC).

　　The broker maintains a policy of segregated client funds, ensuring that all client deposits are held in separate accounts with reputable banks. This practice enhances the safety of client funds and provides an additional layer of security. EGM Securities also complies with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which are essential for maintaining the integrity of financial transactions and preventing fraud.

　　The CMA's regulatory framework, while not as stringent as that of the FCA, still provides essential protections for traders, including the implementation of capital adequacy requirements and regular audits. This regulatory oversight is crucial for building trust among clients and ensuring a secure trading environment.

3. Trading Products and Services

　　EGM Securities offers a diverse range of trading products, catering to the needs of various traders. The broker provides access to over 60 currency pairs, including major, minor, and exotic currencies. Clients can trade popular pairs such as EUR/USD, GBP/USD, and USD/JPY, alongside a selection of lesser-known pairs.

　　In addition to forex, EGM Securities offers CFDs on indices, commodities, and stocks. The broker features 37 CFDs on stock indices and 6 precious metals including gold and silver. Furthermore, EGM Securities has plans to expand its product offerings regularly, introducing new instruments to meet the evolving demands of traders.

　　For retail traders, EGM Securities provides a user-friendly trading environment with advanced tools and features. The firm also caters to institutional clients, offering tailored solutions and services that align with their trading strategies and requirements. However, as of now, EGM Securities does not offer cryptocurrency trading, which may limit options for some traders.

4. Trading Platforms and Technology

　　EGM Securities supports the widely recognized MetaTrader 4 (MT4) trading platform, which is favored for its user-friendly interface and robust functionality. The MT4 platform is available for desktop, web, and mobile devices, allowing traders to access their accounts and execute trades from anywhere. The broker also plans to introduce MetaTrader 5 (MT5) in the future, expanding its platform offerings.

　　The broker employs an ECN (Electronic Communications Network) and STP (Straight Through Processing) execution model, ensuring that trades are executed swiftly and efficiently without interference. This model eliminates conflicts of interest, providing traders with direct access to interbank market rates.

　　EGM Securities has established its servers in London, UK, leveraging advanced technology and infrastructure to ensure low latency and fast order execution. The broker also supports automated trading through Expert Advisors (EAs), allowing traders to implement their strategies seamlessly.

　　For traders seeking more sophisticated trading solutions, EGM Securities offers an API for automated trading, enabling clients to connect their systems and execute trades programmatically.

5. Account Types and Trading Conditions

　　EGM Securities offers two primary account types: the Executive Account and the Premiere Account.

• 　　Executive Account:

• 　　Minimum Deposit: $15

• 　　Spreads: Starting from 1.6 pips

• 　　Commission: No commission charged

• 　　Leverage: Up to 1:400

• 　　Premiere Account:

• 　　Minimum Deposit: $100

• 　　Spreads: Starting from 0.2 pips

• 　　Commission: $7 per standard lot for forex and precious metals

• 　　Leverage: Up to 1:400 for forex and precious metals

　　Both accounts allow for a minimum trade size of 0.01 lots, providing flexibility for traders of all experience levels. EGM Securities also offers a swap-free Islamic account for clients adhering to Sharia law, ensuring compliance with Islamic finance principles.

　　The broker does not impose any inactivity fees, and clients can benefit from competitive trading conditions that enhance their trading experience.

6. Fund Management

　　EGM Securities provides a variety of deposit and withdrawal methods to facilitate smooth transactions for its clients. The supported deposit methods include:

• Bank Transfers
• Credit/Debit Cards
• E-Wallets (such as Neteller and Skrill)
• Mobile Payment Solutions (including M-Pesa and Airtel Money)

　　The minimum deposit requirement for the Executive Account is $15, while the Premiere Account requires a minimum deposit of $100. Deposits are processed quickly, with most methods offering instant funding.

　　Withdrawal options mirror the deposit methods, ensuring that clients can access their funds conveniently. Withdrawals via bank transfer may incur a fee of $16.50, while e-wallet transactions are charged a nominal fee of 1%, capped at $30. The processing time for withdrawals varies, with e-wallet transactions typically completed within 24 hours and bank transfers taking 3 to 5 business days.

7. Customer Support and Educational Resources

　　EGM Securities is committed to providing robust customer support, available through multiple channels including:

• Phone Support
• Email Support
• Live Chat
• Social Media (Facebook, Twitter, LinkedIn)

　　The support team operates 24/6, accommodating traders across different time zones. EGM Securities also offers multilingual support, ensuring that clients from various backgrounds can receive assistance in their preferred language.

　　In addition to customer support, EGM Securities provides educational resources through its FXPesa Academy. This platform offers webinars, tutorials, and market analysis to help traders enhance their skills and knowledge. The broker also provides essential trading tools such as calculators and an economic calendar to assist traders in their decision-making processes.

8. Regional Coverage and Restrictions

　　EGM Securities primarily serves clients in Africa, particularly in Kenya, where it has established a strong presence. The broker also aims to expand its reach in other regions, including Europe and Asia. However, EGM Securities does not accept clients from certain countries, including the United States, New Zealand, and several others due to regulatory restrictions.

　　The broker has a network of regional offices to support its clients effectively and provide localized services. As it continues to grow, EGM Securities remains focused on enhancing its offerings and expanding its market reach while adhering to regulatory requirements.

　　In conclusion, EGM Securities is a promising forex broker that provides a solid trading environment for retail and institutional clients alike. With its competitive trading conditions, regulatory backing, and commitment to customer support, EGM Securities positions itself as a reliable choice for traders looking to engage in the forex market.