Francis Drummond Review 2024

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Written By
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Written By
Tobias Robinson
Tobias is a partner at, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.
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Fact Checked By
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Fact Checked By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.

1.8 / 5
Francis Drummond is #35 in our broker rankings.
Wire Transfer


  • Daily market research and analyst articles
  • Regulated by the Capital Markets Authority of Kenya
  • Responsive telephone and email customer support


  • No educational content for beginners
  • No forex, CFDs or options trading
  • Limited trading platforms and tools

Francis Drummond Review

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 2024 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.

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.


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.

Top 3 Alternatives to Francis Drummond

Compare Francis Drummond with the top 3 similar brokers that accept traders from your location.

  1. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

  2. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

  3. – Founded in 1999, is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

Francis Drummond Comparison Table

Compare Francis Drummond With Similar Brokers
Francis Drummond Interactive Brokers IG
Rating 1.8 4.3 4.4 4.5
Markets Stocks Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Forex, Stocks, Futures, Futures Options
Demo Account No Yes Yes Yes
Minimum Deposit $0 $0 $0 $100
Minimum Trade $0 $100 0.01 Lots 0.01 Lots
Bonus Active Trader Program With A 15% Reduction In Costs
Education No Yes Yes Yes
Platforms Own Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Leverage 1:50 1:30 (Retail), 1:250 (Pro) 1:50
Payment Methods 1 6 6 8
Visit Visit Visit Visit Visit
Review Interactive Brokers

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 Interactive Brokers IG
CFD No Yes Yes No
Forex No Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities No Yes Yes Yes
Oil No No Yes Yes
Gold No Yes Yes Yes
Copper No No Yes No
Silver No No Yes Yes
Corn No No No No
Crypto No Yes Yes No
Futures No Yes Yes Yes
Options No Yes Yes Yes
ETFs No Yes Yes No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No No Yes No
Volatility Index No No Yes No

Francis Drummond vs Other Brokers

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