Francis Drummond Review 2023

Francis Drummond is #38 in our broker rankings.
Flag Traders in United States welcome

Francis Drummond is a Kenyan broker and financial services provider offering access to exotic stock exchanges for securities investing.

Demo AccountNo
Min. DepositNo
Payment Methods
Min. TradeNo
Regulated ByCMA
MetaTrader 4No
MetaTrader 5No
Trading CentralNo
STP AccountNo
ECN AccountNo
DMA AccountNo
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsNo
Margin TradingYes
Volatility IndexNo
Spot TradingYes
Perpetual SwapsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionNo
VPS HostingNo
Demo CompetitionsNo
Managed AccountsNo
Market MakerNo
Social TradingNo
Copy TradingNo
Islamic AccountNo
Guaranteed Stop LossNo
Stock Exchanges
  • Nairobi Stock Exchange
Risk Warning – Your capital is at risk

Francis Drummond is a leading Kenyan provider for investments and financial services. The firm offers a wide range of brokerage, research and management products to clients from Kenya and across the world. This 2023 Francis Drummond review explores the firm’s many services, assets, accounts and selling points. Read on to find out all there is to know about the broker.

Francis Drummond Headlines

Francis Drummond and Company Limited was founded in 1949 by an estate agent operating in Nairobi and named eponymously after himself. This company was the first professional stockbroking firm in Kenya, with previous stock trading in the region taking place casually amongst connected affluent businessmen. The broker has since expanded from a singular owner to a board of directors, currently headed by Chairman Ndung’u Gathinji.

Since the incorporation of the financial institution, Francis Drummond has been intimately involved with the formation and evolution of its local stock exchange, the Nairobi Securities Exchange (NSE). In addition to stockbroking for NSE shares, the firm has expanded to offer additional services, including wealth management for businesses and comprehensive market research, both locally and abroad.

The brokerage has its headquarters in Nairobi, Kenya and is licensed by the Capital Markets Authority (CMA).

Financial Services

Francis Drummond & Company Limited offers a range of financial services to individual traders, investors and businesses.

Stock Brokerage

As an institution founded on services as a stock brokerage, it is no surprise to see that Francis Drummond is still in the business of dealing stocks and shares. As well as providing access to stocks from its home market, the NSE, the broker also facilitates investment in leading international markets in Africa and around the world.

Fixed income products such as bonds and government securities are also available thanks to the firm’s centrality to the Kenyan economic markets.Francis Drummond review for stocks & shares in Kenya

Wealth Management

Both businesses and individuals that desire to invest or manage significant amounts of capital can take advantage of Francis Drummond’s wealth management services. The firm offers expertise in balancing risk and returns through market investments and asset management.

Research & Analysis

In addition to general market analysis, Francis Drummond provides specific research into the strength and long term projections of economic market health, the fundamentals of listed businesses and bank interest rates. A daily market analysis is posted for free on its website, while more detailed analyses geared towards serious investors are available upon request.

Corporate Advisory Services

Francis Drummond can also guide businesses through the often daunting landscape of the Kenyan economic market. Guidance and support are available for business needs like IPOs, raising private capital, mergers and acquisitions and objective valuations.

Markets & Assets

The financial services provider offers stocks and shares from both the NSE and various African and global offshore markets. Also available are government and corporate bonds, as well as shorter-term treasury bills.

Leverage & Margin

Francis Drummond does not advertise the leverage or margin available to its clients. Instead, traders and businesses must contact the firm on an individual basis to receive quotes. However, a substantial margin level will likely be available to corporate investors.

Fees & Commissions

As with leverage, Francis Drummond does not make publicly available any fees or commissions for its share and bond dealing services. Traders are also left in the dark concerning account minimums, inactivity charges or deposit and withdrawal fees.

Standard industry practice is that charges for a wealth management service offered by a broker will depend on the amount invested; the price-on-application policy of Francis Drummond makes this seem likely. The prices of research and advisory services will fluctuate based on the breadth and depth of specific requirements.

Trading Platform

As with many share trading platforms, Francis Drummond employs a proprietary trading platform. This software package is called Drummond eTrade and can be easily found via a link at the top of the broker’s main website.

The broker’s trading platform has separate sections for company trading and viewing market data and statistics, with limited research available to all traders. Account statements and transactions are also displayed within the portal. Extended hours (out-of-hours) trading is not supported.

Account Types

Francis Drummond supports two types of trading account: individual and corporate. Registration for both is fairly straightforward, requiring personal information and identity verification for all associates.

A corporate account provides access to Francis Drummond’s advisory assistance, while holders of both accounts are eligible for wealth management, brokerage and research services.


Here are some of the main reasons to consider Francis Drummond:


Some traders may be put off Francis Drummond due to these factors:

Regulation & Security

Solid regulation is the hallmark of a reputable and secure brokerage and Francis Drummond certainly meets this standard.

The firm is a member of the Kenya Association of Stockbrokers and Investment Banks (KASIB), a registered trading participant at the Nairobi Securities Exchange (NSE) and authorised by the Central Depository & Settlement Corporation (CDSC). This is on top of regulation from the Kenyan Capital Markets Authority (CMA).

The Drummond eTrade secure portal is protected by a username and password access system, while client data is encrypted held securely to minimise the risk of loss.Francis Drummond investments brokerage

Trading Hours

To take advantage of trading opportunities across a range of global markets, many brokerages have long trading hours or even support for after-hours trading. By comparison, Francis Drummond only supports trading from 10:30 to 14:30 EAT on weekdays.

For long term investors, this may not pose an issue, though it may restrict day trading on many major markets.


Francis Drummond does not offer any financial incentives or promotions, such as sign up bonuses or deposit match schemes. However, individuals or businesses that wish to manage significant wealth or partner for expansion through the firm may be able to negotiate preferential rates.

Help & Customer Support

Francis Drummond is easy to reach via various methods, including post, email and telephone.

An FAQ section is also provided to help traders understand and navigate the broker’s proprietary online trading platform.

Francis Drummond Verdict

Francis Drummond & Company Limited is a broker that provides access to the Kenyan trading markets for both local and overseas traders. Also available from the firm are wealth and asset management solutions for individuals and businesses, expert research facilities and corporate assistance. A reputable and significant player in the Kenyan economic landscape, traders can enjoy peace of mind when trading with Francis Drummond. Not having access to fee structures or available margin before signing up to a broker is strange in the modern trading space, but these rates will be available upon request.

Accepted Countries

Francis Drummond accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Compare Francis Drummond

Compare Francis Drummond with similar brokers that accept traders from your location. Among available brokers these are the most similar to Francis Drummond:

  1. Moomoo – Moomoo is an app-based stock broker that offers trading in US, Hong Kong and Chinese shares. Clients can get started with a sign-up bonus and $0 minimum deposit.
  2. Revolut – Revolut is a popular financial app that also offers trading on equities and digital currencies.
  3. Zacks Trade – Zacks Trade is a US based brokerage, built for the active trader. Trade stocks, ETFs, bonds, mutual funds and more on a proprietary trading platform.
  4. Firstrade – Firstrade is a US-headquartered discount broker-dealer. With welcome bonuses, powerful tools and apps, plus commission-free trading, Firstrade Securities is a popular online brokerage.

Francis Drummond Comparison Table

Compare Francis Drummond With Similar Brokers
Francis Drummond Moomoo Revolut Zacks Trade Firstrade
Rating 3.8 3.1 3.9 4
Markets Stocks Stocks, Options, ETFs, ADRs, OTCs Stocks, Cryptos Stocks, Crypto Stocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, Fixed
Demo Account No Yes No Yes No
Minimum Deposit No $0 $0 $2500 $0
Minimum Trade No No minimum $1 $3 $1
Bonus Get up to 15 free stocks worth up to $2000 Deposit Bonus Up To $4000
Education No No No No Yes
Payment Methods 1 4 8 3 4
Review Francis Drummond
Zacks Trade

Compare Trading Instruments

Compare the markets and instruments offered by Francis Drummond and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Francis Drummond Trading Instruments
Francis Drummond Moomoo Revolut Zacks Trade Firstrade
CFD No No No No No
Forex No No No No No
Stocks Yes Yes Yes Yes Yes
Commodities No No No No No
Oil No No No No No
Gold No No No No No
Copper No No No No No
Silver No No No No No
Corn No No No No No
Crypto No No Yes Yes Yes
Futures No Yes No No No
Options No Yes No Yes Yes
ETFs No Yes No Yes Yes
Bonds No No No Yes Yes
Warrants No No No No No
Spreadbetting No No No No No
Volatility Index No No No No No

Francis Drummond vs Other Brokers

Compare Francis Drummond with any other broker by selecting the other broker below.

Francis Drummond vs


Is Francis Drummond Available To Traders Outside Of Kenya?

Traders from outside of Kenya can create a Francis Drummond account to trade NSE stocks, though the signup process may be more complicated.

Is Francis Drummond Legit?

Francis Drummond is one of the market-leading brokerages in Africa and is regulated by the Capital Markets Authority (CMA) of Kenya.

Where Is Francis Drummond Based?

The broker’s headquarters are located in Nairobi, Kenya.

Which Markets Can I Trade With Francis Drummond?

Francis Drummond clients can trade stocks listed on the Nairobi Securities Exchange, as well as leading indices around the world. Additionally, the platform can be used to purchase government and corporate bonds and treasury bills.

Does Francis Drummond Operate With A Board Of Directors?

Yes, Francis Drummond has a board of directors led by chairman Ndung’u Gathinji. Gathinji is also a board member of the NSE and the secretary of the African Stock Exchanges Association.

Francis Drummond is a Kenyan broker and financial services provider offering access to exotic stock exchanges for securities investing.