Kenyan Forex Traders Lost KSh 7 Billion in 2025 

Kenyan forex traders lost a shocking KSh 7.12 billion (US$54.80 million) in 2025, according to new data from the Capital Markets Authority (CMA).

While traders were losing billions, the brokers who run the trading platforms were making money or reducing their own losses.

The number of active forex traders in Kenya dropped sharply. Active accounts fell from 282,836 in 2024 to just 152,110 in 2025, a drop of nearly half.

But here is the surprising part: even with fewer traders, total losses went up by 46.6%. This means the traders who stayed in the game lost much more money than before.

For every KSh 1 traders won, they lost KSh 5.69. In total, traders made only KSh 1.25 billion in winnings, while their losses were KSh 7.12 billion. The final result was a net loss of KSh 5.87 billion, a big jump from KSh 4.13 billion in 2024

Most of the money lost by traders came from just four brokers: Exness Traders lost the most here: about KSh 2.96 billion. That is nearly 42% of all losses in the industry. HF Markets  had the most customers, with 63,138 active accounts. But nearly 80% of those traders lost money. Total losses here were about KSh 1.21 billion. Pepperstone lost around KSh 1.18 billion on this platform. However, Pepperstone made a profit of KSh 99 million and was the highest-earning broker in Kenya. FXPesa  lost about KSh 866 million here. Together, these four brokers accounted for 87% of all client losses.

While traders suffered heavy losses, the brokers themselves had a good year. The industry as a whole reduced its losses by 74% from KSh 190 million in 2024 to just KSh 48.7 million in 2025. Several brokers remained profitable, including Exinity, HFM Investments, EGM Securities and SCFM. Only two brokers Windsor Markets and Ingot Africa  reported losses.