Kenyan Forex Traders Lost KSh 7.12Billion in 2025
Kenyan online forex traders recorded net losses of KSh 5.87 billion in 2025, despite a significant 46% drop in the number of active accounts. While individual traders faced increased losses, the brokerage firms themselves saw improved financial performance.
Why it matters
The data highlights a growing disparity between retail investor outcomes and the profitability of the online brokerage industry in emerging markets.
Kenyan online forex traders suffered US$ 54.80Million (KSh 7.12Billion) in gross trading losses in 2025 despite a sharp decline in market participation, as the number of active accounts fell 46.2% to 152,110, according to the latest data by the Capital Markets Authority (CMA).
Clients recorded US$ 9.62Million (KSh 1.25Billion) in trading gains during the year, leaving a net trading loss of US$ 45.18Million (KSh 5.87Billion), up 42.1% from US$ 31.79Million (KSh 4.13Billion) in 2024.
The market contraction was evident across trading activity. Active accounts almost halved from 282,836 in 2024 to 152,110 in 2025, yet the value of losses rose, suggesting that while fewer investors participated in the market, those who remained incurred significantly larger losses on average.
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