Stockbrokers in Kenya 2026: Every CMA-Licensed Firm Compared on Commission, Platform and Minimum

Choosing a stockbroker is a little like choosing the road your investment will travel on. You may know which NSE shares you want, but your broker determines how your order reaches the market, what tools you can use and how much you pay.

So, which is the best stock broker in Kenya?

There is no universal answer. The best option depends on your trading frequency, preferred platform, support needs and total costs.

Who is officially licensed?

Alt text: Infographic listing 12 CMA-licensed stockbrokers in Kenya in 2026, with a reminder to verify licensing before investing.

The Capital Markets Authority (CMA) is Kenya's regulator for capital-market intermediaries. Its current licensee register lists the following firms under Stockbrokers: (CMA)

The CMA register is the appropriate place to confirm whether a firm currently holds the relevant licence.

Important: The CMA's central register does not publish a standard minimum investment or a side-by-side comparison of each firm's app, platform or customer charges. Therefore, those figures should not be guessed or presented as CMA-set requirements.

How much commission do stockbrokers charge?

This is where investors need to look beyond an advertised "brokerage fee."

For secondary trading, CMA regulations set maximum costs. For transactions up to KSh100,000, the maximum total cost to an investor is 2.10%, including the applicable brokerage commission and statutory charges. For transactions above KSh100,000, brokerage is negotiable subject to a maximum of 1.5%, while the applicable statutory charges are added separately.

The published breakdown includes:

• Net brokerage commission: 1.76% for transactions up to KSh100,000
• NSE fee: 0.12%
• CMA fee: 0.12%
• CDSC fee: 0.08%
• Applicable investor/guarantee fund charges: 0.02%

That produces the 2.10% maximum total cost for transactions up to KSh100,000 under the cited schedule.

What does that mean in practice?

Suppose you buy shares worth KSh50,000.

A 2.10% maximum total cost would equal KSh1,050, before considering whether a particular broker offers different negotiated pricing within the applicable rules.

So don't compare brokers by looking only at the headline commission.

What about the minimum amount?

There is no single CMA-mandated minimum investment that applies to every stockbroker.

Each broker may set its own account-opening, funding or trading requirements, and these can change.

This is why claims such as "every Kenyan broker requires KSh10,000" should be treated cautiously unless the figure comes directly from that broker.

If your budget is small, ask the broker:

"What is the minimum amount I can deposit, and what is the minimum value of an NSE trade?"

Those are not necessarily the same thing.

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What platforms can you use?

Broker technology differs.

Some firms provide web-based online trading platforms, while others provide mobile applications or access through digital investment platforms. Standard Investment Bank, for example, operates MANSA X, which appears on the CMA's licensed intermediary records.

The important point is that there is no single official "NSE app" operated by the NSE for all retail investors. Your trading interface may belong to your broker or an authorised intermediary.

Before choosing a platform, check whether it lets you:

• Buy and sell NSE shares online
• View your portfolio
• Monitor orders
• Access market prices
• Download statements
• Receive trade confirmations
• Contact customer support

So, which broker is best?

Alt text: Infographic comparing CMA-licensed stockbrokers in Kenya, highlighting broker platforms, investment minimums, trading costs and key factors to consider when choosing a stockbroker.

Instead of asking only "which is the best stock broker in Kenya?", compare these five things:

• 1Licensing: Is the firm currently listed by CMA?
• 2Total cost: What will you pay per transaction, including applicable charges?
• 3Platform: Is the website or app easy to use and reliable?
• 4Minimums: How much do you need to start?
• 5Support: Can you reach someone when a trade or account issue occurs?

Your quick checklist

Before opening an account:

☐ Verify the broker on the CMA register.☐ Ask for its current fee schedule.☐ Confirm the minimum deposit/trade value.☐ Test or understand its online platform.☐ Ask how your CDS account will be opened.☐ Understand withdrawal and settlement procedures.

The bottom line

Kenya has several CMA-licensed firms through which investors can access the securities market. However, commission, platform features and minimum investment requirements are not identical—and the CMA does not publish one central table containing all three for every broker.

For that reason, the safest comparison is to start with the CMA's current licence register, then confirm fees and minimums directly with each broker before opening an account.

For NSE investors, the cheapest broker is not automatically the best broker. A reliable platform, transparent pricing, good customer support and appropriate investment tools can matter just as much.

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