9 Best High Leverage Forex Brokers in Uganda
The 9 Best High Leverage Forex Brokers in Uganda revealed. We tested and verified the best high-leverage brokers operating in Uganda.
This is a complete list of high-leverage brokers in Uganda.
In this in-depth guide you’ll learn:
- What are high leverage forex brokers?
- Which Forex Brokers are best for beginner traders?
- Which brokers offer 1:100, 1:3000, and 1:5000 leverages?
- How to choose a forex broker – compare them against each other.
- Which high-leverage broker offers the best UGX sign-up bonus?
- Which broker offers a low minimum deposit of $5 (18 377 UGX) to first-time traders?
- Which broker offers a mobile app to Uganda traders?
And lots more…
So if you’re ready to go “all in” with the best-tested high leverage forex brokers for Ugandans…
Let’s dive right in…
- Louis Schoeman
9 Best High Leverage Forex Brokers in Uganda
| 💻 Broker | 📉 Maximum Leverage | 💵 Minimum Deposit | 📈 EUR/USD Margin | 👉 Open Account |
| 1. FXTM | 1:2000 | 36,700 UGX ($10) | 0.05% | 👉 Open Account |
| 2. Exness | Unlimited | 36,700 UGX ($10) | 0.05 | 👉 Open Account |
| 3. BDSwiss | 1:1000 | 360,000 UGX ($100) | 0.1% | 👉 Open Account |
| 4. HFM | 1:1000 | 18,300 UGX ($5) | 0.1% | 👉 Open Account |
| 5. XM | 1:1000 | 18,300 ($5) | 0.1% | 👉 Open Account |
| 6. ThinkMarkets | 1:500 | 0 UGX ($0) | 0.2% | 👉 Open Account |
| 7. AvaTrade | 1:400 | 360,000 UGX ($100) | 0.25% | 👉 Open Account |
| 8. JustMarkets | 1:3000 | 3,600 UGX ($1) | 0.03% | 👉 Open Account |
| 9. FBS | 1:3000 | 3,600 UGX ($1) | 0.03% | 👉 Open Account |
Best High Leverage Forex Brokers in Uganda
- FXTM – Overall, Best High Leverage Forex Broker in Uganda
- Exness – Top Sign-Up Bonus in Uganda
- BDSwiss – Best NDD Forex Broker
- HFM – Top Broker for Beginner Forex Brokers
- XM – Best STP Forex Broker
- ThinkMarkets – Top NASDAQ100 Forex Broker in Uganda
- AvaTrade – Best Forex Trading App Forex Broker
- JustMarkets – Top Low Minimum Deposit Broker
- FBS – Top ECN Forex Broker
What is Leverage in Forex Trading, and how does it work?
👉 Leverage in foreign exchange trading refers to the capacity to control copious amounts of capital on the foreign exchange market. It enables traders to improve their potential profits by borrowing money from a broker to trade a greater position than they could with their funds alone.
👉 For instance, if a trader has $1,000 in their account and wishes to trade a $100,000 position, they may use leverage by borrowing the remaining $99,000 from their broker.
👉 If the deal does not go the trader’s way, utilizing leverage might result in significant losses. This is because leverage enables traders to handle a greater position than they could with their funds alone, but it also magnifies losses.
👉 To preserve their cash while using leverage, traders may use risk management tactics like stop-loss orders and predetermined profit targets. In addition, it is essential to utilize leverage wisely and trade only with funds you can afford to lose.
👉 Because Uganda is a developing nation and forex trading is not severely regulated, it is essential to trade with a reputable and well-regulated broker and to understand the dangers associated with forex trading before investing.
1. FXTM
Overall Rating
- 4.6/5
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
👉 FXTM, also known as Forex Time, is a premier foreign exchange (Forex) broker founded in 2011, with its headquarters in Limassol, Cyprus, and regulated by the Financial Conduct Authority and other reputable agencies.
👉 The company has quickly established a reputation as one of the best forex brokers in the world, experiencing rapid growth and expansion into markets in Africa and Asia.
👉 They offer competitive spreads, with the FXTM Micro account on the higher end and their Advantage account offering tight, ECN-style raw spreads for high-volume traders.
👉 FXTM offers a wide range of trading instruments, including currency pairs, CFDs on spot metals and indices, equities CFDs, and commodities, among many others. In addition, FXTM’s website offers a vast selection of CFD instruments.
👉 In addition, Ugandans can easily benefit from the fact that FXTM offers the latest trading platform, MT5, and the widely used MT4. Furthermore, FXTM’s customer service is noteworthy, with polite and responsive representatives and an excellent selection of educational resources for traders.
👉 Overall, FXTM is a top-tier broker that offers a comprehensive array of trading instruments, competitive spreads, and exceptional customer support.
Unique Features of FXTM
| Feature | Information |
| ⚖️ Regulation | CySEC, FSCA, FCA, FSC Mauritius |
| ⚖️ CBN Regulation? | No |
| 📊 Trading Accounts | Micro Account, Advantage Account, Advantage Plus Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, FXTM Trader |
| 💰 Minimum Deposit (₦) | 4,100 Ugandan Naira equivalent to $10 |
| 💰 Trading Assets | Precious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs (including minor, major, and exotic pairs), Commodities, Stock Baskets |
| 🔎 Ugandan Naira-based Account? | Yes |
| 💳 NGN Deposits Allowed? | Yes |
| 💰 Bonuses for Ugandan traders? | Yes |
| 📈 Minimum spread | 0.0 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FXTM is a multi-regulated and a reputable broker that has gained a high level of trustworthiness | Inactivity fees apply when the retail investor account becomes dormant |
| Dedicated customer support offered for Ugandan traders Several deposit options and withdrawal methods offered | |
| There is a low minimum deposit requirement | |
| Commission-free trading is offered | |
| Deposit fees are not charged on any payment methods | |
| Withdrawal processing times are quick | |
| There are several educational tools offered | |
| There is an exclusive risk management tool offered |
2. Exness
Overall Rating
- 4.9/5
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
👉 Exness, established in 2008, is a leading provider of CFD and forex trading services, known for offering unlimited leverage options for traders.
👉 Exness offers Ugandan traders a wide range of products, including spot forex, futures, and options. They support various platforms, including MT4, MT5, and an Exness trading app.
👉 Exness is regulated by several reputable agencies, such as the FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, and FCA, and it has its headquarters in Cyprus.
👉 Ugandan traders can take advantage of several benefits offered by Exness, including negative balance protection, instant order execution, and competitive spreads. Exness features an attractive program that rewards customers with cashback and other benefits based on their trading activity.
👉 Exness offers a high leverage ratio for multiple accounts and asset classes. However, the exact ratio will vary based on the account type and laws in the trader’s country of residence, typically between 1:1 and 1:100.
👉 While high leverage ratios can increase earning potential, they also increase the potential for losses. Therefore, traders must evaluate their risk tolerance and trading plan before utilizing leverage.
Unique Features of Exness
| Feature | Information |
| 📈 Account Base Currencies | AED, 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 |
| 📊 Minimum Spread | 0.0 pips EUR/USD |
| 💳 Ugandan Deposits/Withdrawals | Yes |
| ⚖️ CBN Regulation | No |
| 📊 Account Types | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| 📈 Leverage | Unlimited |
| 📊 Micro Account Offered? | No |
| 📈 Trading Tools | Analytical tools, Trading calculators, currency converter, tick history, economic calendar |
| 💻 Educational Material | None |
| 👥 Ugandan-Based Customer Support | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Exness has a global presence and has authorization and regulation with market regulators around the globe | There is a limited selection of tradable instruments and only a few asset classes |
| Exness offers instant withdrawals and deposits | There are only a few funding options offered |
| Ugandan traders have a choice between several dynamic account types | |
| Client fund safety is guaranteed and there is investor protection offered | |
| Exness offers 24/7 customer support that is both prompt and helpful | |
| There are tight and variable spreads offered with competitive commissions |
3. BDSwiss
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 350,000 UGX
Regulators
CySec, FSC, FSA, BaFin, NFA
Trading Desk
MetaTrader 4 , MetaTrader 5
Crypto
Yes
Total Pairs
50 Forex Pairs and 20 Crypto Pairs
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 BDSwiss is a forex and CFD broker established in 2012 and offers trading in various assets, including forex, commodities, stocks, and indices.
👉 BDSwiss is headquartered in Seychelles and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Markets in Financial Instruments Directive (MiFID) in the European Union, FSC in Mauritius, FSA in Seychelles, and the Tier-1 BaFIN in Germany.
👉 BDSwiss offers several trading platforms, including the popular MetaTrader 4 and 5 and its proprietary web trader. It also provides educational resources, such as webinars and video tutorials, to assist traders in improving their skills.
👉 The maximum leverage available on BDSwiss varies depending on the account type. For example, the leverage on a standard account can be up to 1:30, while on a professional account can be up to 1:1000.
👉 However, BDSwiss has a feature that allows you to limit your leverage, which can be a useful tool for risk management. Nevertheless, Ugandan traders should be aware that leverage can amplify gains and losses, and it is important to use it responsibly and within your risk tolerance.
Unique Features of BDSwiss
| 💠 Account Feature | 💰 Value |
|---|---|
| 📈 Average Spread on EUR/USD | 1.5 pips |
| 📈 Maximum Leverage | 1:500 |
| 🔆 Tradable Instruments | Over 250 |
| 📈 Available Assets | Forex CFDs Stocks CFDs Indices CFDs Commodities CFDs Cryptocurrencies CFDs |
| 🔎 Commissions per round lot | $2 on Indices 0.15% on Shares |
| ✴️ Margin Call | 50% |
| 📊 Stop-out level | 20% |
| 💳 Instant Withdrawals offered? | Yes, only on credit cards up to 2,000 €/$/£ |
| 💳 0% fees on Deposits and CC Withdrawal? | Yes |
| 💻 Platforms available | All |
| 📊 Are trading alerts offered? | Limited Access granted |
| 📈 AutoChartist Performance Stats offered? | Yes, with a 208,500 NGN minimum deposit |
| 🎓 Personal Account Manager | Yes, with a 417,000 minimum deposit |
| Priority Service | No |
| 📈 AutoChartist Standard Tools | Yes |
| 🚀 Access to Trading Central? | Yes |
| 📊Trading Academy and Live Webinars | Yes |
| 📊Trade Companion offered? | No |
| ☪️ Islamic Account option? | Yes |
| 🔎 VIP Webinars | No |
| 👨💼 24/5 Customer Service and Support? | Yes |
| 💳 Minimum deposit requirement | 41,000 NGN |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| BDSwiss is one of the trusted forex brokers with a high trust score that provides client protection | There are high minimum deposits on more premium accounts |
| There are commission-free options offered | Fixed spreads are not offered |
| There are competitive conditions with tight spreads and low commissions | There are some regional restrictions applied to some countries |
| BDSwiss has a large client base spread across the globe | The raw spreads are not the tightest |
| There are more than 250 CFDs to trade and several financial assets and classes | BDSwiss does not offer a deposit bonus or any other initiative |
| BDSwiss offers a high maximum leverage ratio up to 1:1000 | Does not offer a specific Ugandan client or terminal |
| Accepts electronic payments from Skrill, Neteller, and other trusted methods | Currency conversion fees are charged |
| Offers a powerful proprietary trading platform along with MetaTrader 4 and 5 | There is an inactivity fee charged on dormant accounts |
| There is a massive selection of educational material and trading tools, covering all aspects of trading | Withdrawal fee applied on the bank wire withdrawal option for certain amounts |
| Provides advanced charting tools and analytical material | There are no Ugandan Naira deposits allowed and there is no NGN account offered |
| Deposit fees are not charged on deposit methods | There is no desktop version of the proprietary trading platform |
| Offers a demo account and Islamic Account | |
| BDSwiss offers a decent range of payment methods | |
| There is a choice between dynamic retail investor accounts |
4. HFM
Overall Rating
- 4.8/5
Min Deposit
USD 5 / 18,000 UGX
Regulators
CySEC, FSC, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
No
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 HFM is a well-established multi-asset broker specializing in providing clients with the ability to trade Forex and Contracts for Difference (CFDs).
👉 HFM has been in operation since 2010 and is overseen by several reputable market regulators, including FSCA, CySEC, DFSA, FSA, FCA, FSC, and CMA.
👉 One of the key features of HFM is its unrestricted liquidity, which allows traders of any size or profile to access various spreads and liquidity providers using automated trading platforms and implement their preferred trading strategies.
👉 HFM is particularly active and influential in Africa, Asia, the Middle East, and North Africa (MENA) and offers promising opportunities for traders worldwide.
👉 Ugandan traders can start trading with HFM with a low minimum deposit of $5 on the Micro Account and have access to leverage up to 1:1000. Additionally, all retail accounts are protected by negative balance protection, and HFM offers dedicated customer support.
Unique Features of HFM
| Feature | Information |
| 📈 Account Base Currencies | USD, ZAR, NGN |
| 📊 Minimum Spread | 0.0 pips EUR/USD |
| 💳 Ugandan Deposits/Withdrawals | No |
| ⚖️ CBN Regulation | No |
| 📊 Account Types | Micro Account, Premium Account, Zero Spread Account, Auto Account, HFCopy Account |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC |
| 📈 Leverage | 1:1000 |
| 📊 Micro Account Offered? | Yes |
| 📈 Trading Tools | HF App, VPS Hosting Services, AutoChartist, Trading Calculators, myHF Client Area, Advanced Insights, Economic Calendar, Traders’ Board, One-Click trading, and more |
| 💻 Educational Material | Educational Videos, Forex Education, eCourses, Events, Podcasts, Live Webinars, Training Course Videos |
| 👥 Ugandan-Based Customer Support | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Well-regulated CFD and Forex broker that has a decent trust score | United States clients and some other regions are not accepted by HotForex |
| The spreads offered are low and competitive | There may be restricted leverage for EU clients because of regulatory requirements |
| There are several account types to choose from with reasonable trading fees charged | There are no variable spread accounts offered |
| HotForex welcomes all types of traders and trading strategies | Limited funding options offered for deposits and withdrawals |
| There is a low minimum deposit requirement and secure methods for deposits and withdrawals | |
| Suited to beginner traders and experienced traders | |
| Offers comprehensive expert trading and market analysis | |
| Offers a decent selection of educational tools and a range of trading tools |
5. XM
Overall Rating
- 4.5/5
Min Deposit
USD 10
Regulators
IFSC, CySec, ASIC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
55
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 The XM is a reputable MetaTrader-only broker that offers an extensive collection of premium educational resources and market analysis. In addition to this, the company provides Ugandan traders access to over 1,230 CFDs across multiple asset classes.
👉 As part of its research and analysis offerings, XM provides access to various in-house tools and resources, including AutoChartist and Trading Central.
👉 Additionally, they offer a wide range of instructional webinars, publications, and Tradepedia courses, catering to the needs of traders of all levels.
👉 XM also offers traders competitive leverage of up to 1000:1 and a useful margin calculator. This allows traders to manage their risk effectively and make informed trading decisions.
Unique Features of XM
| Feature | Information |
| ⚖️ Regulation | FSCA, IFSC |
| ⚖️ CBN Regulation | No |
| ✔️ Accepts Ugandan Traders? | Yes |
| 💳 Minimum deposit (NGN) | 2,000 Ugandan Naira ($5) |
| Average spread from | 0.0 pips EUR/USD |
| 📈 Maximum Leverage | 1:888 |
| 👥 Customer Support | 24/5 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Negative balance protection is applied to retail investor accounts | US clients are restricted from accessing XM’s trading services |
| There are several secure payment methods to choose from | There are no fixed spread accounts offered |
| The broker is known for low spreads, low commissions, and reliable trade execution speeds | There is an inactivity fee applied to dormant accounts |
| Traders can use hedging, scalping, and expert advisor trading strategies | |
| The broker offers personal customer service to its clients |
6. ThinkMarkets
👉 ThinkMarkets is a broker that appeals to experienced traders who value a wide range of tradable assets and a comprehensive suite of trading tools. However, trading costs may be higher than average on its entry-level account.
👉 ThinkMarkets offers Ugandan traders support for the popular MetaTrader 4 and 5 platforms and its proprietary ThinkTrader platform. Traders can access some of the industry’s leading trading tools, including Trading Central, Zulutrade, and a VPS hosting service.
👉 Trading Central is offered free of charge to account holders. Still, the Zulutrade copy-trading service requires a subscription fee of 30 USD per month, and the VPS service has a subscription fee unless Ugandan traders execute trades of more than 15 lots per month.
👉 ThinkMarkets takes pride in its state-of-the-art trading infrastructure, with twin Equinix trading servers in Hong Kong and London, allowing for trade execution within milliseconds.
👉 This technology enables ThinkMarkets to deliver an uptime of 99.99% and provides traders with the fastest execution speeds, ideal for automated trading.
👉 The Standard Account is a commission-free trading account with variable spreads and no minimum operating balance. In addition, the average spreads on major pairs are 1.20 pips but can fall to 0.4 pips at times.
👉 Leverage on this account is 500:1, and all three of ThinkMarkets’ supported platforms are available. In addition, standard Account holders have free access to live webinars, special reports, and Trading Central.
👉 The ThinkZero Account is tailored for traders who prioritize tight spreads, with a starting point of 0 pips and an average of 0.1 pips on major pairs. However, it comes with an industry-standard commission of 7 USD (round turn) per trade.
👉 The minimum operating balance for ThinkZero is 500 USD, and access to the ThinkTrader platform is unavailable, meaning Ugandan traders will have to utilize the MetaTrader 4 or 5 platforms.
👉 Similar to the Standard Account, leverage on the ThinkZero Account is set at 500:1. However, holders of this account have access to additional benefits such as live webinars, special reports, Trading Central, and a dedicated personal account manager.
👉 Furthermore, the ThinkZero account is ideal for traders who prioritize tight spreads and are comfortable paying a commission fee for trades.
Unique Features of ThinkMarkets
| 💵 Minimum Spread | 0.1 pips |
| ✔️ UGX Account | No |
| 📉 Regulated in Uganda? | No |
| 💻 Account Types | • Standard Account • ThinkZero Account |
| ⚖️ Regulation | FCA, FSCA, ASIC |
| 💸 Maximum Leverage | 1:500 |
| 🔧 Trading Tools | • Trading Tools • VPS • Market News • Live Webinars • Special Reports • Technical Analysis • Economic Calendar • Trading Glossary • Indicators and Chart Patterns |
| 📚 Education | • Trading Masterclass • Trading for Beginners • Trading Tutorials |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| There is a low minimum deposit requirement. | There is limited educational material offered. |
| Ugandans can expect competitive trading conditions. | There are only two retail accounts offered. |
| Free practice accounts are available. | |
| Trading platforms are available across several devices. | |
| Fast, reliable ECN execution can be expected. |
7. AvaTrade
Overall Rating
- 4.9/5
Min Deposit
USD 100/350,000 Ugandan Shilling
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 AvaTrade is a reputable choice for Ugandan retail clients seeking high-leverage options in the foreign exchange market. The broker offers leverage of up to 1:400, depending on the trader’s location and asset class.
👉 For instance, traders in certain regions might be subject to the standard 1:30 leverage limit, while those in jurisdictions without such limits are offered higher leverage ratios. Furthermore, professional clients may also be eligible for leverage ratios of up to 1:400.
👉 In addition to providing leverage, AvaTrade is a Contracts for Difference (CFD) broker that offers access to various financial instruments, including stocks, indices, cryptocurrencies, and commodities.
👉 The minimum first-time deposit required to open an account is $100. Furthermore, registered Ugandan users can also access demo accounts funded with 100,000 USD in virtual funds, allowing them to practice and develop their trading strategies.
Unique Features of AvaTrade
| Feature | Information |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA |
| ⚖️ CBN Regulation? | No |
| 📊 Trading Accounts | Retail Investor Account, Professional Account Option |
| 📊 Trading Platform | AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade |
| 💰 Minimum Deposit (₦) | 41,000 Ugandan Naira equivalent to $100 |
| 💰 Trading Assets | Foreign currencies, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals |
| 🔎 Ugandan Naira-based Account? | No |
| 💳 NGN Deposits Allowed? | No |
| 💰 Bonuses for Ugandan traders? | Yes |
| 📈 Minimum spread | 0.9 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade is multi-regulated and one of the most trusted online trading brokers in the world | Variable spreads are not offered |
| There is a wide range of financial instruments that can be traded across financial markets | There is a limited choice between account types |
| There are several technical indicators, economic indicators, and other solutions for advanced traders | Inactivity fees are applied |
| There are several trading platforms to choose from | Currency conversion fees may be applied |
| There is a decent selection of educational material that helps beginner traders navigate complex instruments and lower the degree of risk they are often exposed to | There is a limited number of base currency options offered on accounts |
| There is a multitude of social trading opportunities offered | |
| The broker accepts any trading strategy including automated trading, expert advisors, scalping, hedging, and others. |
8. JustMarkets
Overall Rating
- 4.4/5
Min Deposit
USD 100 / 3,600 Ugandan Shilling
Regulators
FSA, CySec
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 JustMarkets is a reputable online broker that welcomes traders from Uganda and offers a range of trading options and features to meet their diverse needs.
👉 Moreover, JustMarkets charges Ugandan traders an average spread starting from 0.0 pips and a $6 round turn commission rate, making it an attractive option for traders who prioritize low trading costs.
👉 In addition, JustMarkets offers a maximum leverage ratio of up to 1:3000, providing traders with ample flexibility to adjust their trading strategies and risk levels.
👉 JustMarkets also offers a demo account, allowing traders to practice and develop their skills in a risk-free environment. Furthermore, for traders who abide by Islamic law, JustMarkets offers an account compliant with Islamic law, providing them with an opportunity to trade according to their beliefs.
👉 The broker supports several platforms, including MT4, MT5, and their own JustMarkets App, allowing traders to choose the platform that best suits their needs.
👉 JustMarkets is regulated by the Financial Services Authority (FSA) and has its headquarters in Seychelles. The company is a subsidiary of Just Global Markets Ltd., a brokerage business established in 2012.
👉 JustMarkets offers a range of flexible trading accounts, including Islamic swap-free, commission-based, commission-free, and ECN trading accounts, each with specific features and conditions suitable for diverse traders.
👉 The flexible choice in JustMarkets’ trading accounts allows Ugandan traders to choose an account that best aligns with their trading style and goals.
Unique Features of JustMarkets
| Feature | Information |
| ⚖️ Regulation | FSA in Seychelles, FSA in Saint Vincent and the Grenadines |
| ⚖️ CBN Regulation? | No |
| 📊 Trading Accounts | MT4 Standard Cent, MT4 Standard Account, MT4 Pro Account, MT4 Raw Spread Account, MT5 Standard Account, MT5 Pro Account, MT5 Raw Spread Account |
| 📊 Trading Platform | MetaTrader 5, MetaTrader 4, ZuluTrade, JustMarkets App |
| 💰 Minimum Deposit (₦) | 400 Ugandan Naira equivalent to $1 |
| 💰 Trading Assets | Indices, Energies, Forex, Metals, Cryptocurrencies, Shares, Futures |
| 🔎 Ugandan Naira-based Account? | No |
| 💳 NGN Deposits Allowed? | Yes |
| 💰 Bonuses for Ugandan traders? | Yes |
| 📈 Minimum spread | 0.0 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | Yes |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| JustMarkets offers a huge range of deposit methods and withdrawal options including bank wire transfers, bank transfers, Skrill, Neteller, and more | There is a limited choice of trading instruments |
| Demo trading and Islamic Swap-Free Accounts are offered | Inactivity Fees may apply after following several days of dormancy |
| JustMarkets offers mobile trading through powerful mobile trading apps | The broker does not have regulation through a reputable and trusted regulatory body |
| JustMarkets offers competitive cryptocurrency spreads across crypto pairs including Bitcoin, Ethereum, and others | |
| JustMarkets’s non-trading fees are reasonable | |
| The broker offers a risk warning, training webinars, an array of articles and education for inexperienced traders | |
| There is a wide choice between different types of accounts and excellent trading conditions | |
| One-click trading is offered in addition to insights to help Ugandan traders make better trading decisions | |
| Real-time market analysis is offered alongside analysis tools and several other additional tools | |
| Client funds are kept in segregated bank accounts | |
| There are several research and resources that can help traders make improved independent investment decisions | |
| JustMarkets’s account-opening process is quick and easy | |
| JustMarkets offers several innovative features including a range of services | |
| There are several trading account currencies to choose from | |
| There is no fee for withdrawals |
9. FBS
Overall Rating
- 4.7/5
Min Deposit
USD 1 / 3,500 Ugandan shilling
Regulators
IFSC, FSCA (South africa), ASIC, CySEC
Trading Desk
MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Welcome Bonus
$140 (16 373 KESFind out More)
Account Activation Time
24 Hours
👉 FBS is a reputable forex broker with a global presence. Moreover, FBS operates out of Belize, has a Cyprus subsidiary, and offices in Australia and South Africa. This allows FBS to reach a wide audience worldwide of novice and experienced traders.
👉 FBS has been in business for many years and provides a trustworthy trading environment. In addition, the broker offers practical trading terms, including copy trading on MetaTrader 4 and 5, as well as a comprehensive educational section.
👉 IFSC regulates FBS, and the maximum leverage for major forex pairs such as EUR/USD through MetaTrader 4 is 1:3000. However, it is worth noting that the maximum leverage for European customers is 1:30 and for professional customers is 1:500.
👉 FBS offers a micro account with a minimum deposit of $5/18,300 UGX to access 1:3000 leverage. Additionally, traders can initiate positions in the forex market with a minimum of 0.01 lot and even trade in nano lots (0.0001 regular lots).
👉 However, Ugandan traders should note that the leverage has been lowered to 1:1000. FBS also allows customers to establish forex trades for as little as $0.33 / 1,200 UGX with the highest available leverage.
Unique Features of FBS
| Feature | Information |
| ⚖️ Regulation | IFSC, CySEC |
| ⚖️ CBN Regulation | No |
| ✔️ Accepts Ugandan Traders? | Yes |
| 💳 Minimum deposit (NGN) | 400 Ugandan Naira ($1) |
| Average spread from | 0.0 pips EUR/USD |
| 📈 Maximum Leverage | 1:3000 |
| 👥 Customer Support | 24/7 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FBS offers competitive trading conditions with some of the lowest spreads | There are wide spreads charges on some accounts |
| There are several account types to choose from | There is a limited number of tradable instruments |
| There are many social trading opportunities | There are several regional restrictions applied |
| There is an ultra-low minimum deposit requirement | |
| The broker is well-regulated and trusted |
How to Identify an High Leverage Broker in Uganda
👉 An electronic communications network (ECN) broker is a financial intermediary that connects buyers and sellers in the currency and stock markets electronically. To identify an ECN broker, Ugandans must evaluate the following components.
The Broker Agreement
👉 To operate legally, all brokers must publish a Client Agreement and Order Execution Policy outlining how they manage client orders. However, this is not necessarily a reliable technique for defining a broker’s nature since some ECN brokers will also operate as Market Makers in certain situations.
Variable Spreads
👉 Tight spreads, commission fees per transaction, and spread volatility are all features of ECNs. As they are not based on the constantly shifting conditions of the market, only Market Makers provide fixed spreads.
Restrictions on Trading
👉 With an ECN broker, neither your trading style nor your transaction volume will ever be limited in any way.
👉 That opens the door for robot trading, scalping, hedging, and massive order sizes (five lots and above). If a broker limits any of these features, they cannot be considered an ECN broker.
Slippage
👉 The slippage of an order is the difference between the order price and the execution price. When dealing with ECN brokers, slippage is expected, especially for bigger orders and in times of low liquidity and high market volatility.
👉 Your trading position may benefit or suffer from slippage depending on the direction it takes. Conversely, experiencing losses solely due to slippage is a tell-tale sign that your broker is not using an ECN execution strategy.
Additional considerations
👉 There is no conflict of interest with ECN brokers as there is with market makers, but a commission is still required for all transactions. There is also a larger minimum deposit for ECN accounts, making them unaffordable for many novice traders.
The Best Forex Brokers in Uganda
👉 In this article, we have listed the best brokers that offer forex and CFD trading to Ugandan traders. In addition, we have further identified the brokers that offer additional services and solutions to Ugandan traders.
Best MetaTrader 4 / MT4 Forex Broker in Uganda
Overall Rating
- 4.6/5
Min Deposit
USD 5 / 360,000 Ugandan Shilling
Regulators
FCA UK
Trading Desk
None
Crypto
Yes
Total Pairs
28
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, OctaFX is the best MT4 forex broker in Uganda. OctaFX is an MT4 and MT5 broker offering Ugandans access to several markets. In addition, OctaFX provides a variety of MT4 accounts, such as ECN and STP accounts, with improved trade execution.
Best MetaTrader 5 / MT5 Forex Broker in Uganda
Overall Rating
- 4.8/5
Min Deposit
USD 5 / 18,000 UGX
Regulators
CySEC, FSC, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
No
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, HFM is the best MetaTrader 5 Forex broker in Uganda. Scalpers get the best pricing from HFM, which has a global presence and is affiliated with many reputable liquidity providers.
👉 HFM offers scalpers a variety of trading accounts suited to their needs and objectives.
Best Forex Broker for beginners in Uganda
Overall Rating
- 4.7/5
Min Deposit
–
Regulators
–
Trading Desk
–
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, FOREX.com is the best forex broker for beginners in Uganda. FOREX.com is recognized for its minimal trading commissions and beginner-friendly services. Additionally, FOREX.com provides educational resources and a free demo account.
Best Low Minimum Deposit Forex Broker in Uganda
Overall Rating
- 4.6/5
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
👉 Overall, FXTM is the best Low Minimum Deposit Forex Broker in Uganda. This is because FXTM makes it easy for scalpers to register an account and start trading on the forex market.
👉 In addition, FXTM is renowned for its low minimum deposit across several accounts, providing the perfect entry point for Ugandan traders.
Best Islamic / Swap-Free Forex Broker in Uganda
Overall Rating
- 4.8/5
Min Deposit
USD 50
Regulators
CySec, FCA
Trading Desk
None
Crypto
Yes
Total Pairs
47
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.
👉 Overall, eToro is the best Islamic / Swap-Free Forex broker in Uganda. eToro offers more than 3,000 financial products across many asset classes, including stocks, cryptocurrencies, etc.
👉 By changing their live accounts to an Islamic option, Muslim traders can trade halal instruments without paying exchange costs.
Best Forex Trading App in Uganda
Overall Rating
- 4.7/5
Min Deposit
USD 1 / 3,500 Ugandan shilling
Regulators
IFSC, FSCA (South africa), ASIC, CySEC
Trading Desk
MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.
Crypto
Yes
Total Pairs
–
Islamic Account
No
Trading Fees
Low
Welcome Bonus
$140 (16 373 KESFind out More)
Account Activation Time
24 Hours
👉 Overall, FBS is the best Forex trading app in Uganda. In addition, FBS is an excellent broker for mobile scalpers who rely on ECN execution due to its innovative and robust mobile trading interface.
👉 Furthermore, FBS has a low entry barrier for forex trading and offers services in more than 190 countries worldwide.
Best UGX Forex Broker in Uganda
Overall Rating
- 4.5/5
Min Deposit
USD 1
Regulators
IFSC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
300
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, SuperForex is the best UGX account Forex broker in Uganda. SuperForex facilitates the opening of UGX-denominated ECN accounts for Ugandan traders.
👉 The ECN Standard Mini Account from SuperForex provides access to many markets with spreads beginning at 0 pips and no commission fees.
Best Lowest Spread Forex Broker in Uganda
Overall Rating
- 4.9/5
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
👉 Overall, Exness is the best lowest-spread Forex broker in Uganda. Exness is a reputable STP and ECN broker offering variable spreads. These spreads depend on the financial instrument, account type, and general market conditions.
👉 Exness may provide zero-pip margins owing to its superior liquidity and pricing obtained from the industry’s top liquidity suppliers.
Best Nasdaq 100 Forex Broker in Uganda
Overall Rating
- 4.6/5
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
👉 Overall, FXTM is the best Nasdaq 100 forex broker in Uganda. FXTM is a multi-regulated forex and CFD broker that caters to Ugandan traders interested in Nasdaq. As a result, Ugandan traders can anticipate competitive spreads, a selection of accounts, and robust trading platforms.
Best Volatility 75 / VIX 75 Forex Broker in Uganda
Overall Rating
- 4.9/5
Min Deposit
USD 100/350,000 Ugandan Shilling
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, AvaTrade is Uganda’s best Volatility 75 / VIX 75 Forex broker. In addition, AvaTrade offers a few advanced trading solutions to Ugandan scalpers. Moreover, Ugandans can trade VIX on desktop and mobile devices and web browsers through AvaTrade.
👉 AvaTrade also offers training materials for beginners and advanced trading tools for seasoned traders wishing to improve their trading strategies.
Best NDD Forex Broker in Uganda
Overall Rating
- 4.5/5
Min Deposit
USD 300 / 1 119 542 UGX
Regulators
FCA
Trading Desk
MetaTrader 4, Trading Station
Crypto
Yes
Total Pairs
7
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, FXCM is the best NDD forex broker in Uganda. FXCM is a No-Dealing-Desk broker that offers STP and ECN execution on many markets. In addition to technical indicators, charting tools, and competitive trading conditions, FXCM also provides a selection of third-party platforms.
Best Sign-up Bonus Forex Broker in Uganda
Overall Rating
- 4.7/5
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
👉 Overall, RoboForex is the best sign-up bonus Forex broker in Uganda. RoboForex, which has won many accolades over the years, offers more than 12,000 traded items on several platforms.
👉 RoboForex derives its liquidity from eight diverse sources and offers market execution so that ECN Account traders may expect zero-pip spreads and low commission rates.
Conclusion
👉 You should not choose a broker based on who has the most leverage; rather, you should assess the quality of service and liquidity each broker provides. Moreover, a broker with high leverage should be able to provide a high-quality service on top of everything else.
👉 The Forex brokers in Uganda we have examined that provide high leverage rates are among the finest in the business since they give excellent customer service and are regulated and supervised by well-known and trustworthy market authorities.
FAQ
What is unlimited leverage?
Leverage refers to the ratio of borrowed funds to the trader’s funds. It enables traders to open positions of larger volume than they would be able to with their capital alone.
This proportion of the trader’s equity to borrowed capital is known as leverage, and it is represented by its ratio, such as 1:200, 1:2000, or 1: Unlimited.
Which are the best ECN brokers with high leverage in Uganda?
ThinkMarkets is one of the best ECN brokers with high leverage in Uganda. ThinkMarkets offers two versatile account types with competitive spreads and commission-free trading options.
Are there unlimited leverage brokers in Uganda?
Exness is one of Uganda’s best unlimited leverage brokers for 2023, with low spreads, a safe trading environment, MetaTrader, mobile trading, and free instant deposits and withdrawals.
How do you get unlimited leverage on Exness?
To access Exness’ limitless leverage, traders must have closed 10 positions (excluding pending orders) and 5 lots (or 500 cent lots) across all live trading accounts in the Personal Area.
What is the best leverage for $30?
If you want to deposit $30 into a trading account, the best leverage would be 1:100, according to experts, as it lets you open a position worth $3,000. First, however, Ugandans must ensure that they have a solid trading plan and use risk management tools when they trade.
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