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9 Best Forex Brokers with a Minimum 10 USD Deposit in Uganda

The 9 Best Forex Brokers with a Minimum 10 USD Deposit in Uganda were revealed. We tested and verified the best ten Dollar Deposit forex brokers with a minimum deposit of 10 USD  for Ugandan Traders.

This is a complete list of forex brokers with a minimum deposit of ten USD in Uganda.

In this in-depth guide you’ll learn:

  • What is a broker with a $10 minimum deposit?
  • Who are the best Forex Brokers with a Minimum 10 USD Deposit?
  • Who is the best forex broker with a 10-dollar minimum deposit? 
  • Which 10-dollar minimum deposit brokers have local offices in Uganda?
  • Which brokers on the list offer a 1st-time welcome sign-up bonus?
  • Which is the #1 Best low-bandwidth trading app for Ugandans?
  • How to choose a forex broker – Compare them side by side against each other.

And lots more…

So if you’re ready to go “all in” with the best-tested minimum deposit forex brokers for Ugandans…

Let’s dive right in…

10 Best Forex Brokers in South Africa for 2023

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

4.8/5

User Score

#2

4.7/5

User Score

#3

4.5/5

User Score

#4

4.4/5

User Score

#5

4.7/5

User Score

#6

4.6/5

User Score

#7

4.7/5

User Score

#8

4.8/5

User Score

#9

4.7/5

User Score

#10

4.7/5

User Score

Updated : August 21, 2024

Best Ugandan Forex Brokers with a Minimum 10 USD Deposit – Comparison

🏛️ Broker💰 Minimum Deposit💵 Shilling Deposits Allowed?✔️ Offers a Shilling Account?📞 Ugandan Customer Support?👉 Open Account
1. Exness33,13 Shilling or an equivalent to $10YesYesNo👉 Open Account
2. RoboForex33,13 Shilling or an equivalent to $10YesNoNo👉 Open Account
3. Forex.ee33,13 Shilling or an equivalent to $10NoNoNo👉 Open Account
4. Tifia33,13 Shilling or an equivalent to $10NoNoNo👉 Open Account
5. Axiory 33,13 Shilling or an equivalent to $10NoNoNo👉 Open Account
6. FXTM33,13 Shilling or an equivalent to $10YesYesYes👉 Open Account
7. Grand Capital33,13 Shilling or an equivalent to $10NoNoYes👉 Open Account
8. EagleFX33,13 Shilling or an equivalent to $10YesNoNo👉 Open Account
9. HFM33,13 Shilling or an equivalent to $10YesYesYes👉 Open Account

9 Best Ugandan Forex Brokers with a Minimum 10 USD Deposit (2024)

  1. Exness – Overall, the Best Minimum 10 USD Deposit Broker
  2. RoboForex – Top Mobile Trading App
  3. Forex.ee – User-Friendly ECN Broker
  4. Tifia – Best Shilling-Dominated Retail Accountant for Ugandan
  5. Axiory – Verified Nano Account Broker
  6. FXTM – Top Local Ugandan Broker
  7. Grand Capital – Best MT5 Broker
  8. EagleFX – Verified Bitcoin Funding for Ugandan
  9. HFM – Best MetaTrader4/MT4 Broker

1. Exness

Overall Rating

Min Deposit

USD 10

Regulators

FSCA, FSA, CySEC, FCA, CBCS, FSC (BVI), FSC (Mauritius), CMA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

Exness is overall one of the best CFD and forex brokers for Ugandan traders, providing customized trading solutions, competitive trading conditions, a choice between retail trading accounts, and the benefit that traders can start participating in the forex market with a minimum deposit of 10 USD, or an equivalent in Shilling.

 

Features

FeatureValue
📉 Minimum Deposit33,13 Shilling or an equivalent to $10
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesAED, ARS, AUD, AZN, BDT, BHD, BND, BRL, CAD, CHF, CNY, EGP, EUR, GBP, GHS, HKD, HUF, IDR, INR, JOD, JPY, KES, KRW, KWD, KZT, MAD, MXN, MYR, NGN, NZD, OMR, PHP, PKR, QAR, SAR, SGD, THB, UAH, UGX, USD, UZS, VND, XOF, ZAR
📊 Max Leverage RatioUnlimited
💸 Shilling Deposits Allowed?Yes
✔️ Offers a Shilling Account?Yes
💰 Ugandan Customer Support?No
📊 Account TypesStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
💻 Trading AssetsForex, Metals, Crypto, Energies, Indices, Stocks
✔️ Negative Balance Protection?Yes, Retail Accounts
📞 Margin Call60%
🛑 Stop-Out0%
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ PROS❌ CONS
Exness is multi-regulated through several reputable entities around the globeThere are only a few financial instruments that can be traded
Ugandan traders can expect local instant deposits and instant withdrawalsThere are only a few deposit and withdrawal options offered
There is 24/7 customer support offered
There is a choice between trading accounts, with a low minimum deposit of 10 USD
Negative balance protection is applied and there is client fund security guaranteed

 

2. RoboForex

Overall Rating

Min Deposit

USD 10

Regulators

IFSC

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

32

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

RoboForex is an online broker that offers a wide range of tradable instruments across several asset classes. RoboForex offers Ugandan traders a choice between different trading accounts, with the benefit that there are ultra-low minimum deposits and high leverage ratios offered.

 

Features

FeatureValue
📉 Minimum Deposit33,13 Shilling or an equivalent to $10
📈 Maximum DepositNone
💵 Account Base CurrenciesUSD, EUR, CNY, GOLD
📊 Max Leverage Ratio1:2000
💸 Shilling Deposits Allowed?Yes
✔️ Offers a Shilling Account?No
💰 Ugandan Customer Support?No
📊 Account TypesPrime Account, Kenya ECN Account, R StocksTrader Account, ProCent Account, Pro Account
💻 Trading AssetsForex, Stocks, Indices, ETFs, Commodities, Metals, Energy Commodities, Cryptocurrencies
✔️ Negative Balance Protection?Yes
📞 Margin Call40% to 60%
🛑 Stop-Out10% to 40%
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ PROS❌ CONS
There is a range of markets that can be tradedThere are withdrawal fees charged on payment methods
Ugandan traders have access to a range of trading tools and research optionsThere is no Shilling-denominated account offered
There is a low minimum deposit on trading accounts
There are powerful trading platforms available across devices, including mobile phones
RoboForex offers competitive trading conditions to Ugandan retail traders

 

3. Forex.ee

Forex.ee

Overview

Established in 2004, Forex.ee is an ECN broker that caters to traders from around the world, offering modern and dynamic solutions, a range of tradable instruments, and the use of powerful trading software.

 

 In addition to offering a choice between trading accounts, Forex.ee charges an ultra-low minimum deposit on the Crypto Account, allowing Ugandan traders to trade several crypto coins through powerful trading platforms, including trading apps.

 

Features

FeatureValue
📉 Minimum Deposit33,13 Shilling or an equivalent to $10
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesUSD, EUR, RUB, MBT, LTC
📊 Max Leverage Ratio1:500 overall, 1:3 on the Crypto Account
💸 Shilling Deposits Allowed?None
✔️ Offers a Shilling Account?No
💰 Ugandan Customer Support?No
📊 Account TypesSTP Account, Basic ECN Account, Advanced ECN Account, Premium ECN Account, Crypto Account
💻 Trading AssetsForex, Cryptocurrency
✔️ Negative Balance Protection?None Indicated
📞 Margin Call50%
🛑 Stop-Out30%
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ PROS❌ CONS
There is a choice between different account typesUnregulated
Forex.ee offers comprehensive PAMM servicesA limited selection of markets, only forex and crypto trading offered
One-click trading is offered to Ugandan tradersThere is no daily market analysis offered
MetaTrader 4 is offered across devices
There is a dedicated cryptocurrency trading account offered

 

4. Tifia

 

Overview

Tifia is a Vanuatu-based forex and CFD broker that has been in operation for the past 11 years, offering Ugandan traders competitive trading conditions, and comprehensive and flexible trading solutions.

Tifia not only offers a choice between retail trading accounts, but the advantage of registering a trading account with a minimum deposit of 10 USD, or an equivalent in Ugandan Shilling.

 

Features

FeatureValue
📉 Minimum Deposit33,13 Shilling or an equivalent to $10
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesUSD, EUR, NGN
📊 Max Leverage Ratio1:1000
💸 Shilling Deposits Allowed?Yes
✔️ Offers a Shilling Account?Yes
💰 Ugandan Customer Support?Yes
📊 Account TypesA Start Account (Micro), ECN Classic Account, ECN Pro Account
💻 Trading AssetsForex, Precious Metals, Commodities, Indices, Stocks
✔️ Negative Balance Protection?Yes
📞 Margin Call100%
🛑 Stop-Out50%
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ PROS❌ CONS
Tifia offers Ugandan traders a Shilling-denominated trading accountWithdrawal fees are charged on payment methods
Ugandan traders have access to local deposits and withdrawalsThere is a lack of educational materials
There are no fees charged on depositsThe spreads are wider than that of competitors
Tifia offers commission-free tradingTifia does not support individual stock or cryptocurrency trading
The broker offers a range of social trading opportunities

 

5. Axiory

Overall Rating

Min Deposit

10 USD / 35,000 UGX

Regulators

IFSC, MFSC and FSC

Trading Desk

MetaTrader4, MetaTrader5, CopyTrade and cTrader

Crypto

No

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

Axiory is a multi-regulated forex and CFD broker that has been in operation since 2011. Axiory accommodates and accepts Ugandan traders, allowing them access to a range of markets. In addition to offering high leverage, competitive trading conditions, and a choice between trading accounts, Axiory also accepts ultra-low minimum deposits of 10 USD or an equivalent in Shilling.

 

Features

FeatureValue
📉 Minimum Deposit33,13 Shilling or an equivalent to $10
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesEUR, USD
📊 Max Leverage Ratio1:777
💸 Shilling Deposits Allowed?No
✔️ Offers a Shilling Account?No
💰 Ugandan Customer Support?No
📊 Account TypesNano Account, Standard Account, Max Account, Tera Account, Alpha Account
💻 Trading AssetsForex, Gold and Precious Metals, Oil and Energies, CFD Indices, CFD Stocks, Exchange Stocks, Exchange ETFs
✔️ Negative Balance Protection?Yes
📞 Margin Call50%
🛑 Stop-Out20%
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ PROS❌ CONS
Axiory is well-regulated and offers a range of markets to Ugandan tradersCrypto trading is not offered
Muslim traders are given the option of an Islamic account conversionThere are no Shilling-denominated accounts
Axiory supports several trading strategiesThere are no local deposits or withdrawals for Ugandan
There is a choice between different accounts offered by AxioryThere are additional commissions on the Islamic Account
Client fund security is guaranteed, and investor protection is provided

 

6. FXTM

Overall Rating

Min Deposit

USD 10

Regulators

CySec, FSCA 

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

Overview

FXTM is one of the most popular forex and CFD brokers in Uganda, offering tailor-made solutions to local clients, regardless of their trading skills, needs, or objectives. FXTM offers local support, Shilling-denominated trading accounts, and the benefit that there is a low capital requirement when registering an account.

 

Features

FeatureValue
📉 Minimum Deposit33,13 Shilling or an equivalent to $10
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesUSD, EUR, GBP, or NGN
📊 Max Leverage Ratio1:2000
💸 Shilling Deposits Allowed?Yes
✔️ Offers a Shilling Account?Yes
💰 Ugandan Customer Support?Yes
📊 Account TypesMicro Account, Advantage Account, Advantage Plus Account
💻 Trading AssetsPrecious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs, Commodities, Stock Baskets
✔️ Negative Balance Protection?Yes
📞 Margin CallFrom 60% to 80%
🛑 Stop-OutFrom 40% to 50%
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ PROS❌ CONS
FXTM is multi-regulated and has won several awards since its inceptionThere are inactivity fees charged on dormant accounts
FXTM offers local support, local deposits, and withdrawals, and other tailormade solutions to Ugandan traders
There is a low minimum deposit requirement
There is a wide selection of educational materials and advanced tools for expert traders
There is a choice between retail trading accounts

 

7. Grand Capital

Grand Capital

Overview

Grand Capital is an offshore broker that provides over 330 trading products through its own WebTrader platform as well as the widely used MetaTrader 4 and MetaTrader 5 trading platforms.

 

Grand Capital offers a choice of trading accounts, with the Crypto Account’s minimum deposit at an ultra-low 10 USD, or an equivalent in Shilling. Grand Capital brokerage business lists Currenex and Swissquote as liquidity providers, with pricing determined by liquidity providers.

 

Features

FeatureValue
📉 Minimum Deposit33,13 Shilling or an equivalent to $10
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesUSD, EUR, RUB, JPY, GBP, GOLD, mBTC, mETH
📊 Max Leverage Ratio1:500
💸 Shilling Deposits Allowed?No
✔️ Offers a Shilling Account?No
💰 Ugandan Customer Support?Yes
📊 Account TypesStandard Account, MT5 Account, Micro Account, Crypto Account, Swap-Free Account, ECN Prime
💻 Trading AssetsForex, Cryptocurrencies, Stocks, Indices, Metals, Energy Commodities
✔️ Negative Balance Protection?Yes
📞 Margin Call100%
🛑 Stop-OutFrom 40% to 80%
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

✔️ PROS❌ CONS
Grand Capital offers a choice between retail accountsUnregulated
The broker offers comprehensive LAMM Investment optionsThere is no education, and the market analysis is very poor
Ugandan traders are given access to local deposit and withdrawal options
There are competitive spreads and commissions charged
The Crypto Account has an ultra-low minimum deposit

8. EagleFX

EagleFX

Overview

EagleFX is a well-known online broker with many satisfied customers all around the world. More than 100 trading products are available, including 24-hour access to Cryptocurrencies. Competitive trading conditions, such as low spreads, fast execution speeds, and intuitive trading interfaces, are also available at these Forex brokers, who provide a wide range of currency pairs and CFDs.

 

EagleFX only offers one standard account, with the benefit that Ugandans can start trading with a low minimum deposit of 10 USD, or an equivalent in Shilling.

 

Features

FeatureValue
📉 Minimum Deposit33,13 Shilling or an equivalent to $10
📈 Maximum DepositUnlimited
💵 Account Base CurrenciesEUR, GBP, USD, BTC
📊 Max Leverage Ratio1:500
💸 Shilling Deposits Allowed?Yes
✔️ Offers a Shilling Account?No
💰 Ugandan Customer Support?No
📊 Account TypesStandard Account
💻 Trading AssetsCryptocurrencies, Commodities, Forex, Indices, Stocks, Futures
✔️ Negative Balance Protection?Yes
📞 Margin Call100%
🛑 Stop-Out70%
📉 Minimum Trade Size0.01 lots

 

Pros and Cons

PROSCONS
EagleFX offers 24/7 crypto trading through powerful trading platformsThere is only one retail account offered
There is a low minimum deposit requirementThere is only one trading platform provided
There are competitive spreads and low commission charges
The broker offers flexible leverage to Ugandan traders
There is a comprehensive affiliate program

9. HFM

HFM

Overview

HFM is a multi-regulated online broker that is known for its competitive trading conditions and comprehensive trading solutions. HFM offers a choice between five unique account types, with the benefit that Ugandans can start trading from 16,97 Shilling ($5).

 

HFM has millions of registered users around the world and offers multilingual customer support 24/5 through modern communication channels and social media platforms.

 

Features

FeatureInformation
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions
⚖️ CBN RegulationNo
📊 Trading AccountsMT5/MT 4 Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account
💻 Trading PlatformMetaTrader 4, MetaTrader 5
💳 Minimum Deposit (₦)16,16 Ugandan Shilling equivalent to $5
📈 Trading AssetsForex Currency Pairs, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Equity markets and Stocks DMA, ETFs
📊 Ugandan Shilling-based Account?No
💳 UGX Deposits AllowedNo
💰 Bonuses for Ugandan tradersYes
📈 Minimum spread0.0 pips EUR/USD
📈 Demo AccountYes
☪️ Islamic AccountYes

 

Pros and Cons

✔️ Pros❌ Cons
Well-regulated in several global regionsThere are no variable spread accounts
Offers some of the lowest spreads in the forex market on major currency pairsThere is a limited selection of funding options and withdrawal methods.
There are several account types to choose from
HFM accommodates all types of traders despite their trading strategies
Low minimum deposit requirement
Beginner traders and professional investors are both welcome
Educational tools, advanced trading tools, and several other comprehensive solutions are offered
There is a comprehensive market analysis offered
Technical analysis and fundamental analysis offered

Position Sizes in Forex Trading Explained

Best Flexible Broker

In forex trading, position size means how much of a currency pair a trader buys or sells. It’s important to figure out the right position size to handle risk and make the most of potential gains. Let me explain position sizes in forex trading to you:

 

Lot Size: Lot size is the standard measurement unit in forex trading. It shows how much you’re trading. There are three main types of lot sizes:

 

a. Standard Lot: A standard lot is equal to 100,000 units of the main currency in a currency pair. For example, in the EUR/USD pair, one standard lot represents 100,000 euros.

 

b. Mini Lot: A mini lot is equal to 10,000 units of the main currency. It’s one-tenth the size of a standard lot. So, in the EUR/USD pair, one mini lot represents 10,000 euros.

 

c. Micro Lot: A micro lot is equal to 1,000 units of the main currency. It’s one-tenth the size of a mini lot and one-hundredth the size of a standard lot. In the EUR/USD pair, one micro lot represents 1,000 euros.

 

Position Size Calculation: Traders usually calculate the right position size by considering how much risk they’re comfortable with and how much they’re willing to lose on a trade. One common method is the percentage risk model:

 

Position Size = (Account Size * Risk Percentage) / (Stop Loss in Pips * Pip Value)

 

Account Size: It’s the total amount of money you have for trading.

 

Risk Percentage: It’s the percentage of your account size that you’re willing to risk on one trade.

 

Stop Loss in Pips: It’s the number of pips at which you’ll exit the trade if it goes against you.

 

Pip Value: It’s the money value of one pip, which depends on the currency pair and lot size.

 

Leverage: Leverage lets you control larger positions in the market with less money. It increases both potential profits and losses. But be careful with leverage as it raises the risk.

 

Position Sizing Strategies: Traders can use different strategies to determine their position sizes based on their trading style and risk management goals. Some common strategies include fixed position size, using a percentage of account size, or considering risk/reward ratios.

 

Adjusting Position Size: Traders often change their position sizes based on market conditions, account growth, or risk appetite. It’s important to regularly review and adjust position sizes to match your evolving trading goals.

 

Remember, managing risk is really important in forex trading. By carefully choosing position sizes and using proper risk control measures, you can improve your chances of long-term success and reduce potential losses.

How does Margin Work?

How does Margin Work?

Margin is when you borrow money from a broker or an exchange to trade or invest in the financial markets. It lets you make bigger profits by using more money than you actually have. Let me explain how margin works:

 

Margin Account: To trade on margin, you need to open a special account with a broker or an exchange. This account is different from a regular cash account because you can use borrowed money to trade.

 

Initial Margin: When you open a margin account, you have to put some money in it at the beginning. This is called the initial margin. It’s usually a percentage of the total value of the things you want to buy. The exact percentage depends on the rules and policies of the broker or exchange.

 

Margin Borrowing: Once you have a margin account, you can borrow money from the broker or exchange. The amount you can borrow depends on the value of the things you own in your account. Different things have different rules for how much you can borrow, and the broker decides the maximum amount.

 

Margin Ratio: The margin ratio is an important thing to know in margin trading. It tells you how much of your investment is covered by borrowed money. For example, if you have $10,000 and borrow another $10,000, your margin ratio would be 50% because half of your investment is borrowed.

 

Margin Interest: Borrowing money on margin comes with interest charges, like a loan. The broker decides the interest rate based on what’s happening in the market. You have to pay interest on the borrowed money, and it’s usually charged every month.

 

Margin Maintenance: Brokers want to make sure that the money they lent you is safe, so they have rules about how much margin you need to keep in your account. This is called margin maintenance. If the value of the things in your account goes down and your margin ratio falls below the required level, the broker may ask you to put more money in your account.

 

Margin Call: A margin call happens when your margin ratio is too low. When this happens, the broker might ask you to add more money to your account to bring the margin ratio back up. If you don’t do it, the broker can sell some or all of your things to get back the money they lent you.

 

Risks and Rewards: Margin trading can make you more money because you can control bigger things with less money upfront. But it can also make your losses bigger. If the market goes against you, you can lose a lot more, and you still have to pay back the money you borrowed no matter what.

 

Remember, margin trading is risky, and you need to think carefully about how much risk you can handle and how much you know about the market. It’s a good idea to understand all the rules and risks before you start doing margin trading.

How to Choose a Forex Broker

How to Choose a Forex Broker

Selecting a forex broker is a crucial decision that significantly influences a trader’s experience and profitability. To make an informed choice, it is important to consider several factors. Here are key aspects to contemplate when choosing a forex broker:

 

Regulation:

Opt for a broker regulated by a reputable financial authority in their home country or operating jurisdiction. Regulation ensures that brokers adhere to specific standards and rules, providing traders with a certain level of protection.

 

Trading Platforms:

Evaluate the broker’s trading platform for user-friendliness, reliability, and availability of tools and features that align with your trading requirements. Consider whether the platform is accessible on both desktop and mobile devices and offers a diverse range of financial instruments.

 

Spreads and Fees:

Compare spreads and trading fees among different brokers to identify the most competitive pricing. While low spreads are advantageous, also take into account other fees such as commissions and swap rates.

 

Customer Support:

Prioritize brokers that offer responsive and helpful customer support accessible through various channels, including phone, email, and live chat. Efficient customer support can be crucial when encountering issues or seeking assistance.

 

Educational Resources:

Look for brokers that provide educational resources such as webinars, tutorials, and market analysis. These resources can aid in improving trading skills and knowledge, enhancing your overall trading performance.

 

Deposit and Withdrawal Options:

Consider the broker’s deposit and withdrawal options, ensuring they support your preferred payment methods. Smooth and convenient transactions are vital for efficient account funding and withdrawals.

 

Reputation:

Conduct online research to assess the broker’s reputation and seek reviews from other traders. Real-life experiences and feedback from fellow traders can offer valuable insights into the broker’s reliability and quality of service.

 

By carefully considering these factors, traders can select a forex broker that aligns with their needs, supports their trading goals, and provides a satisfactory trading experience.

Best Forex Brokers in Uganda

 

Overall Best CFD and Forex Broker in Ugandan

Overall Rating

Min Deposit

USD 10 / 35,800 UGX

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

We chose Exness as the best overall broker for Ugandan because the broker offers comprehensive trading solutions to both beginner and professional traders, a range of accounts, the option to trade using a Shilling-denominated account, instant deposits, withdrawals, and more.

 

Best ECN Broker in Ugandan

Best ECN Broker in Nigeria

 

We chose Forex.ee as the Best ECN Broker in the region as the broker offers its clients a choice between different ECN account types, offering flexible trading conditions to suit different trading objectives and needs.

 

Best Nano Account Forex Broker for Ugandan Beginner Traders

Overall Rating

Min Deposit

10 USD / 35,000 UGX

Regulators

IFSC, MFSC and FSC

Trading Desk

MetaTrader4, MetaTrader5, CopyTrade and cTrader

Crypto

No

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

The benefit of a Nano Account is that it is perfect for beginner traders who are learning to trade. Axiory offers one of the best Nano Accounts with the benefit that Ugandan Beginners can start trading with an ultra-low deposit of 33,13 Shilling.

 

Best Bitcoin Funding Offered to Ugandan

Best Bitcoin Funding offered

 

EagleFX is an international broker that offers Ugandan traders the chance to deposit and withdraw in BTC using powerful mobile trading apps and platforms.

 

Best Mobile Trading Apps

Overall Rating

Min Deposit

USD 10

Regulators

IFSC

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

32

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

We chose RoboForex because the broker not only offers a choice between trading accounts but also offers powerful proprietary and third-party mobile apps that can be used across mobile devices.

 

Best Local Ugandan Broker

Overall Rating

Min Deposit

USD 10

Regulators

CySec, FSCA 

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

We selected FXTM because it offers customizable and personalized services and solutions to Ugandan traders. FXTM offers a choice between Shilling-denominated accounts, local deposit, and withdrawal options, and more.

 

Best Shilling-denominated Retail Account for Ugandans

 

We chose Tifia’s UGX-denominated accounts as it allows traders to trade in local currency, exempting them from currency conversions.

 

Best MT5 Account Broker

Best MT5 Account Broker

 

Grand Capital offers a choice of retail trading accounts, in addition to providing one of the best MT5 accounts in the industry.

 

Best MetaTrader 4 / MT4 Broker in Uganda

Overall Rating

Min Deposit

USD 5

Regulators

CySEC, FSC, CFTC

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

Total Pairs

47

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, HFM is the Best MT4 Broker in Nigeria. HFM allows Ugandans to register a retail account via the popular and robust MetaTrader 4 platform.

Ugandans can trade over 1,000 CFDs using this innovative platform and take advantage of the fact that they can access their trading via mobile, desktop, or any internet browser.

FAQ

Can you start forex trading in Uganda with just $10?

Yes, there are brokers in Uganda with a $10 minimum deposit requirement. 

 

Which Forex Brokers have offices in Uganda?

From our comprehensive list, FXTM has local offices in Uganda, amongst several other popular brokers.

 

How do you open an account with a Ugandan Forex Broker?

Once you have used the demo account and determined that a Forex broker suits your unique trading needs and objectives, you can start the process of registering an account by going to the broker’s official website.

From here, you can select the option to register an account, complete the online form, provide your proof of identity and proof of residence, pay the minimum deposit, and start trading.

 

How can I compare Forex Brokers in Uganda?

By evaluating the broker’s regulations, licenses, account types, trading platforms, trading, and non-trading fees, customer support, deposits and withdrawals, and other factors.

 

How can I make a minimum deposit to my Forex Broker?

Once you have registered an account with your Forex broker of choice, you can use the Client Portal to access your deposit and withdrawal options, choose your preferred deposit method, provide your deposit currency, enter the amount, and verify the deposit.

 

How do I know which leverage level is safe?

You need to determine what your risk tolerance is and ensure that you have a risk-reward ratio of 1:3, where the reward is thrice the risk. Typically, traders use leverage between 1:30 to 1:200, depending on their unique risk tolerance.

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