EGM Securities offers a selection of commission-free and commission-based account types. EGM Executive and Premiere accounts offer spread lists that start from low as 0.0 pips and 1.4 pips respectively on EUR/USD.
EGM Securities at a glance
| 🔍 Brokers Name | EGM Securities |
| 🏛 Headquartered | Nairobi, Kenya |
| 📅 Year Founded | 2016 |
| 📝 Regulating Authorities | The Capital Markets Authority (CMA) |
| 🌍 Countries not accepted for trade | United States |
☪️️ Islamic Account | Yes |
| 📒 Demo Account | Yes |
| 🏛 Institutional Account | Yes |
| 💻 Managed Account | Yes |
| 📊 Maximum Leverage | 1:400 |
| 💰 Minimum Deposit | $15 or currency equivalent |
| 💳 Deposit Options 💳 Withdrawal Options | Bank Transfers, Credit/Debit Cards, Neteller, Skrill, Mobile Payment Solutions |
| 📊 Platform Types | MetaTrader4 |
| 📲 OS Compatibility | Linux, MacOS, Android, iOS Tradable Assets Web browsers, Windows, Desktop, Android, iOS |
| 📊 Tradable Assets | 60 currency pair, Precious metals, Indices, Commodities, CFDs, and more. |
| 🌐 Languages supported on Website | English |
| ☎ Customer service hours | 24 hours a day, 5 days a week. |
| 📌 Open an account | 👉 Click Here |
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Min Deposit USD 15 Regulators CMA Trading Platform MT4, MT5 Crypto Yes Total Pairs 66 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
EGM Securities Demo Account – A Key 9 Point Quick Overview
- ✅EGM Securities at a glance
- ✅EGM Securities Overview
- ✅EGM Securities Fees and Spreads
- EGM Securities Additional Trading Fees
- EGM Securities Broker Fees
- EGM Securities Pros and Cons
- EGM Securities Customer Reviews
- Conclusion
- Frequently Asked Questions
EGM Securities Overview
According to research in South Africa, EGM Securities is an online forex trading company based in Kenya. The company was founded in 2016 and its headquarters are located in Nairobi. EGM Securities is part of a broader group of brokers licensed in the United Kingdom, Jordan, the UAE, and Australia.
The broker also provides sufficient educational tools as well as research tools to assist with day-to-day trading. In addition, the broker provides educational and research tools to support first-time traders as well as more experienced traders.
EGM Securities Fees and Spreads
No commissions are charged by the broker on the Executive account but a commission of $ 7 per standard lot round turn is charged on the Premiere account.EGM Securities does not offer spread betting, so spread betting fees do not apply.
| 🌐 Executive account | 🌐 Premier account | |
| 💰 Minimum deposit | $15 | $100 |
| ZAR | R240 ZAR | R1 600 ZAR |
| 💳 Spreads | 1.4 pips | 0.0 pips |
Factors such as available liquidity (supply and demand), volatility, the trading session, and market forces usually have an influence on the price spreads, and they might vary throughout the day.
EGM Securities Additional Trading Fees
With the trading in financial instruments such as forex, traders can expect that swap fees, or overnight fees will be charged when positions are held for longer than a trading day. EGM Securities does not clearly indicate what the swap charges are if short positions or long positions are held overnight. More information might be forthcoming if clients contact customer services.
| 💰 Overnight Fees | ☑ Yes |
| ⏱ Inacitvity Fees | ☑ Yes |
In addition, EGM Securities does make provision for an Islamic Swap-free Account for Muslim traders who follow the Sharia Law. They are thus prohibited from earning or paying interest where the holding of open positions is concerned. EGM Securities charges an inactivity fee after an account is inactive for 180 calendar days or more. The fee payable or closure of inactive accounts is intimated to the customer in advance as per the rules.
EGM Securities Broker Fees
With EGM Securities no deposit fees or withdrawal fees are charged, and the broker will cover all bank processing charges. However, if you withdraw internationally through a bank wire transfer there will be a charged
| Deposit fees | ❌ None |
| Withdrawal fees | ❌ None |
Traders need to enquire and verify whether their financial institution charges any additional fees. Traders might also be subjected to currency conversion fees should they transfer fees in a currency that is different from their account base currency.
Min Deposit USD 15 Regulators CMA Trading Platform MT4, MT5 Crypto Yes Total Pairs 66 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
EGM Securities Pros and Cons
| ✔️ PROS | ❌ CONS |
| Competitive trading conditions | Spreads are not the tightest |
| Demo account offered | |
| Islamic Account/Swap-free provided for Muslim traders | |
| No deposit fees charged |
EGM Securities Customer Reviews
Great Platform!
EGM Securities MetaTrader4 is by far the best I’ve come across, EGM Securities provides the easiest and most accessible trading platforms – Ed
Affiliate Programs offered
EGM Securities reaches Affiliate Brokers in South Africa – this can be considered a great offering– Channon
No Sign Up Bonus offered.
The EGM Securities website is easy to navigate and user-friendly, I am just sad that there are no bonuses or reward programs on offer. – Natalia
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Min Deposit USD 15 Regulators CMA Trading Platform MT4, MT5 Crypto Yes Total Pairs 66 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Conclusion
Overall, EGM Securities is a new broker that offers a choice between several trading instruments on the MT4 platform which is the preferred platform of most traders. Although the broker only offers two live account types it also offers a free demo account and traders of the Muslim faith can open a Swap-free account.
The broker is regulated through CMA, the local regulatory body in Kenya, and funds are kept in segregated accounts. In addition, the broker offers educational and research tools to assist beginner as well as more experienced traders. EGM securities have other positive features like cross-device and cross-platform trading, data-driven decision-making through charting packages, Expert Advisors (EAs), and technical indicators.
Frequently Asked Questions
Is EGM Securities a regulated broker?
EGM Securities was the first NDD forex broker to receive a license from Capital Markets Authority. The first broker to offer traders derivative contracts on Nairobi Securities Exchange Derivatives Market.
What is the cost of trading with EG Securities?
EGM Securities’ minimum deposit is $15 or currency equivalent
Does EGM Securities charge a commission?
No. EGM Securities offers commission-free trading apart from the Premiere Account where a commission of $ 7 per standard lot round turn is charged.
Does EGM Securities charge overnight fees?
Yes, overnight fees apply to positions held for more than 24 hours.
Does EGM Securities charge inactivity fees?
EGM Securities charges an inactivity fee after 180 calendar days
