JustMarketsRiskA CFD account can lose a large share of its balance in a short period.
You can open a JustMarkets account and use MetaTrader 4 to trade forex, metals, indices, crypto CFDs, and shares. The minimum deposit is $10. This guide covers the platform, the account types, the costs, and the regulatory picture for Kenyan traders, so you know exactly what to expect before you fund your account.
The MT4 Platform
MetaTrader 4 is the industry standard for retail forex trading. It has been around since 2005. The platform is stable, fast, and packed with the tools that professional traders use. You get real-time price charts, a wide range of technical indicators, and the ability to automate your trading with Expert Advisors (EAs), which are trading robots.
JustMarkets offers MT4 for desktop (Windows and Mac), web browsers, and mobile devices. You can monitor your positions from your phone in Nairobi or from a desktop computer in Mombasa, and the experience will be consistent. The mobile app is useful for managing risk on the go, such as closing a losing trade.
The platform itself is free to use. You do not pay a monthly fee or a license cost. Costs come from the spreads and commissions, which depend on the account type you choose.
Account Types and Costs
JustMarkets offers several account types, each designed for a different style of trading.
| Account Type | Min. Deposit | Spread (GER40) | Commission | Best For |
|---|---|---|---|---|
| Standard | $10 | From 1.0 pip | $0 | Beginners and casual traders |
| Cent | $10 | From 1.0 pip | $0 | Testing strategies at small size |
| Pro | $100 | From 0.0 pip | Low per-lot | Active traders seeking tight spreads |
| Raw Spread | $100–200 | 0.0 pip | Per-lot fee | Scalpers and high-volume traders |
A pip is the smallest price move in a currency pair, usually the fourth decimal place. For example, if GER40 moves from 1.1050 to 1.1051, that is one pip. A spread of 1.0 pip means you start each trade slightly in the red before it can move in your favor. On the Raw Spread account, the spread is zero, but you pay a commission instead.
The Standard account has no commission, but the spread is wider. If you open a trade with a standard lot (100,000 units), one pip is worth $10. With a 1.0 pip spread, you pay $10 to enter and another $10 to exit, assuming the spread stays the same. On the Raw Spread account, the spread is 0.0 pips, but a $7 per-lot commission means you pay $14 for a round trip. The Raw Spread account is usually cheaper for high-volume traders, while the Standard account suits those who trade less frequently.
Start with a Cent Account
If you are new, start with a Cent account. It lets you trade with tiny amounts to learn the mechanics without risking meaningful capital. You can switch to a Standard or Raw Spread account once your strategy is proven.
Funding Your Account in Kenya
Money can reach your JustMarkets account through multiple channels. The broker supports M-PESA, local bank transfers, cards, and e-wallets.
| Funding Method | Typical Speed | Notes |
|---|---|---|
| M-PESA | Instant | Dominant mobile money service in Kenya |
| Local Bank Transfer | 1–3 business days | May incur bank fees |
| Visa/Mastercard | Instant | Conversion cost applies if not in USD |
| E-wallets (Skrill/Neteller) | Instant | Subject to wallet fees |
The minimum deposit is $10. Your account will likely be denominated in USD, which means you will incur a conversion cost when depositing KES, and again when withdrawing profits. The exchange rate used by the payment provider is rarely as good as the market rate, so factor this in as a cost of doing business.
Withdrawals are processed by the same method as the deposit where possible. M-PESA is often instant for deposits and withdrawals, but bank transfers can take a few days. Ask support about their current processing times before you trade if you need funds quickly.
Regulatory Status in Kenya
The entity serving Kenyan clients is Just Global Markets Ltd, regulated by the Financial Services Authority (FSA) Seychelles under license number SD088. This is an offshore regulator, not the Capital Markets Authority (CMA) of Kenya.
The CMA regulates online forex trading in Kenya under the Capital Markets (Online Foreign Exchange Trading) Regulations, 2017. A CMA license requires brokers to meet a minimum paid-up capital of KES 50 million, segregate client funds, cap leverage at around 1:400, and submit to audits. JustMarkets does not hold a CMA license. This means that if a dispute arises, your recourse is through the Seychelles legal system, not the Kenyan courts.
JustMarkets has been operating since 2012 (rebranded from JustForex in 2022). The broker offers a $30 no-deposit bonus and a 50% deposit bonus. However, you should understand that the protections of a CMA-licensed broker are not in place here. You are relying on the broker's internal policies and the oversight of FSA Seychelles.
Leverage
The global default leverage for JustMarkets is up to 1:1000. This is far above the 1:400 cap for CMA-licensed brokers. High leverage amplifies both gains and losses. A 0.1% adverse price movement wipes out your entire margin at 1:1000. Use leverage sparingly, or not at all, when you start.
CMA-Licensed Brokers vs. Offshore Regulation
To understand the trade-off, here is a comparison of JustMarkets with a CMA-licensed broker.
| Feature | JustMarkets (Offshore) | CMA-Licensed Broker |
|---|---|---|
| Regulator | FSA Seychelles (SD088) | CMA Kenya |
| Leverage Cap | Up to 1:1000 | ~1:400 |
| Client Fund Segregation | Yes (per FSA rules) | Mandatory (per CMA) |
| Local Recourse | Limited | Access to Capital Markets Fraud Investigation Unit |
| Minimum Deposit | $10 | Varies, often higher |
| Local Payment Methods | M-PESA, bank transfer | M-PESA, bank transfer, Pesalink |
A CMA-licensed broker offers stronger local oversight and a legal avenue for complaints through the Capital Markets Fraud Investigation Unit. The downside is often higher minimum deposits and potentially less flexibility on leverage. JustMarkets offers lower entry barriers and payment methods tailored to Kenya, but with weaker local regulatory protection.
If you are a beginner, consider whether the lower deposit and M-PESA support are worth the reduced oversight. If you are trading with more substantial capital, the regulatory safety net of a CMA-licensed broker might be the smarter choice. There are approximately ten non-dealing brokers licensed by the CMA as of late 2025, so there are options to research.
Tax on Forex and CFD Trading in Kenya
Profits from forex and CFD trading are not treated as capital gains in Kenya. The Kenya Revenue Authority (KRA) treats trading profits as ordinary income. This means you add your net profits to your other income and pay tax on the total, at graduated rates that start around 10% and can go up to 35% for the highest earners.
| Item | Rate / Detail |
|---|---|
| Retail Trader | Taxed as ordinary income, up to 35% marginal rate |
| Corporate Trader | 30% corporate tax rate |
| Filing | Annual return between 1 January and 30 June |
| Installment Tax | Due 20 Apr, Jun, Sep, Dec |
| Deductible | Platform fees, internet costs, training expenses |
You are required to declare your worldwide income, including foreign-sourced trading gains. If you trade through a company, the corporate rate of 30% applies. You should keep records of your deposits, withdrawals, and trades, and set aside a portion of your profits to cover the tax bill.
MetaTrader 4 vs. MetaTrader 5
JustMarkets also offers MetaTrader 5. Some traders wonder if they should use the newer version instead.
| Feature | MetaTrader 4 | MetaTrader 5 |
|---|---|---|
| Market Depth | Limited | Full order book |
| Timeframes | 9 | 21 |
| Programming Language | MQL4 | MQL5 |
| Asset Classes | Mainly FX, CFDs | All of MT4 plus stocks, futures |
| Best For | Classic retail forex, tested EAs | Multi-asset traders, advanced analysis |
MT4 remains the preferred platform for many institutional and retail traders because of its simplicity and the vast library of custom indicators and EAs. MT5 offers more features, but they come with a steeper learning curve. If you are starting, or if you have a specific EA you want to use, stick with MT4. If you plan to trade stocks or want more detailed analysis, start with MT5 instead.
Before You Deposit
Run through this checklist before you send any money.
Questions
Is the JustMarkets MT4 platform safe to use?
Yes, the platform itself is encrypted and widely considered secure. The broader question is about the broker's regulation. JustMarkets is regulated by FSA Seychelles (SD088), not by Kenya's CMA. Your funds are handled by an offshore entity, which offers a different level of protection than a CMA-licensed broker. Be aware of this distinction before you deposit.
How much money do I need to start trading on MT4?
You can open a Standard or Cent account with just $10. The Cent account is designed for practice, where $10 gives you a nominal balance much larger than that but with tiny risk per trade. This is an ideal starting point for learning without financial pressure.
Can I withdraw my profits using M-PESA?
Yes, M-PESA is supported for both deposits and withdrawals. The process is typically fast for deposits, and withdrawals are often processed within a day, though it is wise to confirm current processing times with the broker's support team.