7 Best STP Forex Brokers in Uganda
The 7 Best STP Forex Brokers for Ugandans revealed. We tested the best STP Forex Brokers for Ugandan Traders.
This is a complete guide to STP Forex Brokers in Uganda.
In this in-depth guide you’ll learn:
- What are Straight Through Processing (STP) Forex Brokers?
- Which STP forex brokers offer the best trading platforms for Uganda traders?
- Which STP Brokers can you use with M-PESA?
- How to compare the best trading platforms against each other.
- Which STP forex brokers are best for beginner Uganda Traders?
- Which brokers offer a sign-up bonus for first-time traders in Uganda?
- Which brokers offer a low minimum deposit of $5 (18 429 UGX) to start trading?
- Which STP Brokers offer a mobile app on IOS and Android for Uganda Traders?
And lots more…
So if you’re ready to go “all in” with the best STP Forex Brokers…
Let’s dive right in…
- Lesche Duvenage
7 Best STP Forex Brokers in Uganda
- FOREX.com – Overall, Best STP Forex Broker in Uganda
- HFM – Best NDD Forex Broker
- Markets.com – Best Forex Trading App Forex Broker
- Exness – Top ECN Forex Broker
- RoboForex – Best MetaTrader 4/MT4 Forex Broker
- Pepperstone – Top Volatility 75/VIX75 Forex Broker
- FBS – Top NASDAQ100 Forex Broker in Uganda
What is STP in Forex Trading, and how does it work?
👉 Forex brokers can offer either dealing desk or non-dealing desk execution models. These execution models determine how the order placed at your terminal becomes available.
👉 With the dealing desk broker, the order is managed through a “dealing desk,” which your broker runs and manages. With a Non-dealing desk (ECN and STP) broker, the order is routed directly to the interbank market.
👉 An STP broker can be ideal if you want no commission and low spreads on your trades or you would like direct access to the interbank market for real-time forex trading.
👉 STP Forex brokers are more straightforward in their offerings, as they usually do not have a conflict of interest with their clients. All client orders are passed directly to the liquidity provider, and the markets absorb the order without any intervention from the broker.
👉 STP brokers make money from the spreads charged for every trade, which is beneficial for both parties as far as fair and honest trading is concerned.
👉 It is common to experience a sizeable number of re-quotes and large slippages from market maker brokers during times of low market liquidity. Sometimes, dealing desk brokers will take a lot of time to fill orders, ranging from several seconds to minutes.
👉 Traders could also face platform down times, preventing them from opening or closing their positions under favourable conditions.
👉 On the contrary, STP accounts help reduce the number of re-quotes as a trader is connected to a larger liquidity pool, and orders are filled faster than conventional market maker accounts.
1. FOREX.com
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
Overview
👉 FOREX.com, founded in 2001, is a worldwide FX and CFD trading firm. FOREX.com offers investors direct access to liquidity provider transactions via its STP Pro Model.
👉 The site provides more than ninety foreign exchange currency pairings, including major, minor, and exotic ones. With the STP Pro Model, traders can access the popular EUR/USD pair at a spread of no more than 0.2 pips.
👉 With FOREX.com, Ugandans expect a standard lot trading volume to incur a mere $10 fee or 0.00001%. Furthermore, FOREX.com provides CFDs on various assets, including equities, indices, commodities, and energy.
👉 Up to 50x leverage is available on major currency pairings such as EUR/USD, which is advantageous for high-risk traders. FOREX.com is a brand of StoneX Financial Ltd, the NASDAQ-listed parent business of which is StoneX Group.
Features
| Feature | Information |
| ⚖️ Regulation | NFA, CFTC, FCA, ASIC, JFSA, IIROC, CIMA, SFC, MAS |
| 📈 Minimum Spread | 0.2 pips |
| 💵 Commissions | $10 round turn |
| 💻 Liquidity Providers | Anonymous |
| ➡️ Order Execution | Market |
| ✔️ Regulated in Uganda? | No |
| ✅ UGX-denominated Account? | No |
| 📱 Account Types | • Standard Account • Commission Account • Direct Market Access (DMA) Account |
| 📊 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • FOREX.com Platform |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| FOREX.com is well-regulated by top entities worldwide, including the US | Ugandan traders face currency conversion fees of 0.5% |
| Ugandan traders can choose from over 91 forex pairs | Inactivity fees apply |
| Advanced traders have access to the best trading tools | Ugandans have a limited choice between payment methods for deposits and withdrawals |
| FOREX.com has an execution scorecard |
2. 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
Overview
👉 HFM is an ECN/STP broker that offers superior market execution and a low-cost trading environment. HFM delivers its trading services according to the relevant licenses that regulate the Forex industry.
👉 The HFM name is reserved for non-EU traders, while HF Markets (Europe) is their European moniker. HFM is known to emphasize ensuring that all client funds are kept secure.
👉 When Ugandans deposit to a trading account held with HFM, the funds will be kept in segregated accounts with top global banks.
Features
| Feature | Information |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions |
| ✅ CBN Regulation? | No |
| 📊 Trading Accounts | MT5/MT 4 Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5 |
| 💰 Minimum Deposit (UGX) | 18 434 UGX ($5) |
| 💸 Trading Assets | Forex Currency Pairs, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs |
| 🔎 Ugandan Naira-based Account? | No |
| 💳 UGX Deposits Allowed? | No |
| 💰 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 |
| Well-regulated in several global regions | There are no variable spread accounts |
| Offers some of the lowest spreads in the forex market on major currency pairs | There is a limited selection of funding options and withdrawal methods. |
| There are several account types to choose from | |
| HotForex 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 |
3. Markets.com
Overall Rating
- 4.7/5
Min Deposit
$100 / 368 587 UGX
Regulators
CySEC, FSCA, ASIC, FCA, FSC
Trading Desk
MetaTrader 4
MetaTrader 5
Markets.com proprietary platform
Crypto
Yes
Total Pairs
67
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Markets.com was founded in 2008 and is a division of Finalto, which is itself a division of Playtech PLC, listed on the London Stock Exchange Main Market and included in the FTSE 250 Index.
👉 The Markets.com platform and its features are convenient and user-friendly for all types of traders, from novices to seasoned pros.
👉 Markets.com has earned a stellar reputation and is subject to stringent regulatory oversight. Markets.com is among the largest and most respected trading brokers because of its simple account creation process, intuitive trading platforms, and various trading tools and products.
👉 Financial news, analysis reports, insider market updates, and summaries of bloggers’ opinions are some of the materials available in the platform’s tools and analysis area.
Features
| Feature | Information |
| ⚖️ Regulation | ASIC, CySEC, FSCA, FCA, BVI FSC |
| 📈 Minimum Spread | 0.6 pips EUR/USD |
| 💵 Commissions | Commission-free |
| 💻 Liquidity Providers | Unknown |
| ➡️ Order Execution | Market, Instant |
| ✔️ Regulated in Uganda? | No |
| ✅ UGX-denominated Account? | No |
| 📱 Account Types | Standard Account |
| 📊 Trading Platforms | • MarketsX • MetaTrader 4 • MetaTrader 5 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Ugandans can trade commission-free on Markets.com | Markets.com charges an inactivity fee |
| There are over 2,200 financial instruments offered | There is no UGX-denominated account offered |
| Markets.com provides traders with 24-hour customer support 5 days a week | |
| Ugandans can use flexible funding and withdrawal options |
4. Exness
Overall Rating
- 4.9/5
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 was established in 2009, and over the past decade, the broker has gained a good reputation as an STP and ECN broker worldwide. Exness is popular because of its safe trading environment and Cent Accounts.
👉 Furthermore, Exness is the best option for Ugandans who want to register a UGX-denominated account to be exempted from currency conversion fees. Exness is one of the most comprehensive offerings of currency pairings for foreign exchange trading, with more than a hundred available.
👉 Exness offers excellent trading circumstances ideal for a wide range of traders, including customers from Africa, and the company’s reliance on the dependable MetaTrader platform ensures high-quality execution.
Features
| Feature | Information |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| ⚖️ CBN Regulation? | No |
| 📊 Trading Accounts | Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app |
| 💰 Minimum Deposit (₦) | 41,000 NGN (or equivalent to $10) |
| 💰 Trading Assets | Forex minor pairs, forex major pairs, forex exotic currency pairs, Metals, Crypto, Energies, Indices, Stocks |
| 🔎 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 | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Exness is a reputable international broker authorized by several reputable market regulators | There is a limited selection of tradable instruments in only a few financial markets |
| The broker offers some of the tightest spreads across all types of accounts | There is a limited selection of funding options offered |
| There are several account types to choose from, each accommodating different types of traders | |
| There are various market metrics available including exchange rates, overall trading activities available, current market conditions, and more. | |
| Exness is ideal for any Ugandan beginner traders and institutional investors | |
| There are solutions offered for any type of professional trader who needs advanced options | |
| There is a powerful proprietary mobile app offered | |
| Client fund safety and investor protection is guaranteed | |
| Multilingual 24/7 customer support is offered | |
| Instant withdrawal methods are available |
5. RoboForex
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
Overview
👉 RoboForex is a well-known International Forex Broker that has been in business since 2009 and provides services all over the globe.
👉 Throughout its existence, RoboForex has serviced countless customers from all over the globe and garnered respect for its innovative trading offering, as well as specialized conditions appropriate for various trading styles, trading sizes, and portfolios.
👉 RoboForex is regarded as a trustworthy broker with excellent trading conditions. With minimal initial deposit levels, the broker provides a variety of trading services for novice and experienced traders.
👉 Demo accounts are accessible for all accounts save the ECN account, indicating that RoboForex has no issue letting inexperienced traders experiment before committing to the broker.
👉 Moreover, RoboForex offers sophisticated accounts for “seasoned” traders, such as the R StocksTrader and ECN Accounts, in addition to catering to beginner traders.
Features
| Feature | Information |
| ⚖️ Regulation | IFSC |
| ⚖️ CBN Regulation | No |
| ✔️ Accepts Ugandan Traders? | Yes |
| 💳 Minimum deposit (NGN) | 4,150 Ugandan Naira ($10) |
| Average spread from | 0.0 pips EUR/USD |
| 📈 Maximum Leverage | 1:2000 |
| 👥 Customer Support | 24/7 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| The broker offers more than 12,000 markets that can be traded | US clients are not accepted |
| There are several flexible account types offered | There are no fixed spread accounts |
| Trading education is offered to all traders | |
| There are several powerful trading tools | |
| The broker applies negative balance protection to all retail trading accounts |
6. Pepperstone
Overall Rating
- 4.1/5
Min Deposit
USD 200 / 735,164 UGX
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader and TradeView
Crypto
Yes (Not available in Africa)
Total Pairs
60+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Pepperstone, which began life in Australia in 2010, quickly gained acclaim for its competitive commission rates and a wide variety of available trading terminals.
👉 New traders can get started with a 740,000 UGX / $200 initial investment in the base currency of either live account offered by Pepperstone, supported by a leverage ratio of up to 500:1.
👉 Pepperstone was established initially as a foreign exchange broker offering clients interbank execution and competitive spreads.
👉 Despite this, Pepperstone eventually became an execution-only broker, meaning that it no longer had a deal desk and provided services to retail and institutional traders at competitively low rates thanks to several direct liquidity destinations.
👉 Multiple desktop, mobile, and web-based platforms, an industry-standard product library, above-average instructional tools, narrow spreads, and various account types all contribute to a trading experience that will appeal to both beginner and experienced traders.
Features
| Account Feature | Value |
| 💰 Minimum Deposit | 510,000 UGX or an equivalent to AU$200 |
| 💸 Minimum Trading Size | 0.01 lots |
| 📉 Maximum Trading Size | 100 lots in a single trade |
| 💰 Base Account Currency | AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD |
| 💵 Trading Strategies Supported | All including scalping, hedging, and Expert Advisors (EAs) |
| 🗞 News Trading Offered? | Yes |
| ✔️ Trade Execution | No-Dealing Desk (NDD) |
| 📊 Average EUR/USD Spread | From 0.6 pips |
| 💵 Commissions | None |
| 💰 Rollover Swaps | Yes, according to the market rates |
| 📊 Maximum Leverage per region | • Australia – 1:30 • Bahamas – 1:200 • Cyprus – 1:30 • Dubai – 1:30 • Germany – 1:30 • Kenya – 1:400 • United Kingdom – 1:30 |
| ⚖️ Negative Balance Protection Offered | Yes, only for retail clients |
| 🛑 Margin Close-Out (%) | 50% |
| 🔧 Trading Instruments offered | 1,200+ |
| 💻 Trading Platforms offered | MetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Pepperstone is well-regulated by Tier-1, Tier-2, and Tier-3 market regulators around the globe | There is no UGX-denominated account, subjecting Ugandans to currency conversion fees whenever they deposit or withdraw funds |
| Pepperstone guarantees client fund security and keeps all funds in accounts that are held with some of the best banks | There are admin fees applied to the Islamic account |
| Pepperstone offers Ugandans comprehensive trading solutions that are suited to both beginners and experts | The Islamic account is not offered to Muslims globally but only a select few regions |
| Pepperstone offers a demo account across trading platforms | There are leverage restrictions per region and financial instrument |
| An Islamic account is offered to eligible regions | There is an additional admin fee that applies to the Islamic Account |
| There are reliable and flexible deposit and withdrawal options offered | |
| There are no fees applied to either deposit or withdrawal options that are offered by Pepperstone | |
| There is a comprehensive educational section offered to Ugandan beginner traders |
7. 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
Overview
👉 FBS is a global broker with over 13 years of expertise and 75 industry accolades. FBS provides over 27 million CFD traders with streamlined and reliable trading platforms.
👉 Furthermore, Ugandan traders and investors interested in market data and technical analysis can access the FBS platform 24 hours a day and expect competitive negative spreads on major instruments.
👉 FBS has some of the highest leverage levels of any broker, with some account types going as high as 3000:1. It also has commission-free accounts that only need a deposit of 1 USD / 3,700 UGX.
Features
| 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 Choose the Right Forex Broker in Uganda
👉 Ugandan traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives or needs.
Regulations and Licenses
👉 This is the first vital component that Ugandan traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others.
👉 Ugandans must beware when dealing with brokers with offshore regulations, such as FSA, SVG BVI, FSC, and others.
Account Features
👉 Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.
Deposits and Withdrawals
👉 Ugandans must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits, among other trading and non-trading fees.
Range of Markets
👉 The range of markets offered refers to the number and range of tradable instruments the broker offers. Therefore, Ugandans must consider what they wish to trade and what is available.
Customer Support
👉 Customer Support is another crucial factor. Ugandans must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.
Trading Platform
👉 A trading platform is the Ugandan trader’s portal to the financial markets. Therefore, traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.
Education and Research
👉 Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:
➡️ eBooks
➡️ Trading guides
➡️ Trading knowledge on leveraged products
➡️ A risk warning on complex instruments
➡️ Educational videos
👉 Research can include some of the following:
➡️ Trading tools
➡️ Commentary
➡️ Status of International Markets
➡️ Price movements
➡️ Market sentiments
➡️ Whether there is a volatile market
➡️ Exchange Rates
➡️ Expert opinions and other resources can help experienced traders make informed trading decisions.
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
- 4.9/5
Min Deposit
USD 0 / 0 Ugandan Shilling
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Desk
Metatrader 4 and Metatrader 5
Crypto
Yes
Total Pairs
45
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, OANDA is the best MT4 forex broker in Uganda. OANDA is a forex and CFD broker offering Ugandan traders three retail accounts that can be used on MT4.
👉 OANDA is considered one of the best online brokers due to its transparency and high quality of service. Furthermore, OANDA offers MetaTrader 4 on all devices.
Best MetaTrader 5 / MT5 Forex Broker in Uganda
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
👉 Overall, XM is the best MetaTrader 5 forex broker in Uganda. XM offers a flexible XM Zero Account via MT5, with zero-pip spreads and commissions starting at 3.5 USD. Furthermore, Ugandans can apply any trading technique with XM, including hedging and scalping.
Best Forex Broker for beginners 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 forex broker for beginners in Uganda. eToro is ideal for beginners due to the availability of a demo account, educational information, and sophisticated copy trading options.
👉 Furthermore, because eToro charges fixed spreads and no commission fees, new traders can easily calculate their trading costs.
Best Minimum Deposit Forex Broker in Uganda
Overall Rating
- 4.6/5
Min Deposit
0 USD
Regulators
FSA, FCA, ASIC, DFSA
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
66
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, Axi is the best Minimum Deposit Forex Broker in Uganda. This is because Axi was initially established by traders who knew what other traders needed. Therefore, Axi is a broker with a good reputation that allows traders to register an account from 0 UGX / 0 USD.
👉 Not having a minimum deposit requirement means Axi allows traders to explore the trading conditions offered before they commit capital.
Best ECN Forex Broker in Uganda
Overall Rating
- 4.7/5
Min Deposit
USD 200 / 718,000 UGX
Regulators
ASIC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
65
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, IC Markets is the best ECN forex broker in Uganda. IC Markets is the leading ECN broker that offers VIX 75 to Ugandan traders. IC Markets aggregates prices from 25 major liquidity providers, ensuring zero-pip spreads on key instruments for Ugandans.
Best Islamic / Swap-Free 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 Islamic / Swap-Free forex broker in Uganda. SuperForex provides eleven retail accounts with STP and ECN execution. Furthermore, Muslim traders can benefit from the availability of dedicated Islamic Accounts with no additional fees or wider spreads.
Best Forex Trading App in Uganda
Overall Rating
- 4.5/5
Min Deposit
USD 400 / 1 474 349 UGX
Regulators
CFTC
Trading Desk
No Trading Desk
Crypto
Yes
Total Pairs
9
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, NinjaTrader is the best forex trading app in Uganda. In addition, NinjaTrader offers CQG Mobile and NinjaTrader Mobile for iOS and Android smartphones in Uganda.
👉 Ugandans can use these sophisticated tools to trade directly from the charts, develop automated trading strategies, and access detailed analytical data.
Best Ugandan Shilling Trading Account 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 UGX trading account forex broker in Uganda. Exness offers Ugandans the opportunity to trade international CFD markets using local currency, exempting them from costly currency conversion fees.
👉 While using a UGX-denominated account, Ugandans can trade forex, crypto, shares, and other CFD instruments using competitive trading conditions and flexible account types.
Best Lowest Spread 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 lowest-spread forex broker in Uganda. HFM charges competitive variable spreads on major currencies like EUR/USD that start at 0.0 pips. Furthermore, HFM offers four retail investor accounts that can be accessed via MetaTrader 4, MT5, and the HFM App.
Best Nasdaq 100 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 Nasdaq 100 forex broker in Uganda. eToro is a user-friendly and innovative social trading platform that offers over 3,000 financial instruments, including popular indices such as NASDAQ 100.
👉 Ugandan traders can expect competitive spreads on this popular instrument and the benefit that all trading is commission-free on eToro.
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. Ugandans trading the VIX 75 with AvaTrade can expect competitive fixed spreads, no commission fees, and some of the best trading and analytical tools to help them make trading decisions.
Best NDD 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 NDD forex broker in Uganda. OctaFX is a hybrid broker that utilizes STP and ECN trade execution models. All trader orders are routed to liquidity providers by OctaFX, allowing Ugandans to pay the lowest, most competitive prices.
Best Sign-up Bonus Forex Broker in Uganda
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
👉 Overall, JustMarkets is the best sign-up bonus broker in Uganda. JustMarkets offers newly enrolled Ugandan traders a 30 USD no-deposit bonus when they create and validate a trading account.
👉 Ugandans may receive additional incentives to increase their trading after depositing their initial cash, giving them a head start in a fast-paced, competitive business.
Conclusion
👉 STP (Straight Through Processing) trading is a trade execution type that enables customers to transmit orders directly to the market without having a dealing desk. Ugandans will find that several STP brokers cater to their unique trading needs and objectives.
👉 However, different brokers will have different fee structures, trading specifications, account types, and execution speeds. Therefore, Ugandans must research and evaluate each broker before they commit capital to a platform.
FAQ
What is an STP Forex Broker?
STP (Straight Through Processing) is a style of Forex brokerage in which customer orders are sent directly to the market, bypassing the dealing desk.
Is STP better than ECN in Uganda?
Whether STP or ECN is better for Ugandans will depend on each trader’s unique trading style, capital available, and overall risk tolerance. STP and ECN have pros and cons, and while one will suit a group of traders, the other will provide more advantages for another group or individual trader.
How do STP brokers in Uganda make money?
There are several methods through which an STP brokerage might generate a profit. For example, the broker might charge customers a commission ($X per million), add a markup to the price feed, or both.
What is the difference between a Market Maker and STP Broker in Uganda?
In contrast to ECN/STP, Market Maker is a broker that does not cover positions on liquidity providers and is obligated to pay for customers’ profitable trades with its capital — their profits are clients’ losses.
How will Ugandans know they are dealing with a true STP broker?
Brokers with an average transaction speed between 80 and 140 milliseconds are typically Straight Through Processing (STP) brokers. The danger of slippage decreases when a transaction is submitted to the market more quickly.
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