7 Best Forex Trading Apps in Uganda
The 7 Best Trading Apps in Uganda revealed. We tested the best forex trading apps for Uganda Traders.
This is a complete guide to forex trading apps in Uganda.
In this in-depth guide you’ll learn:
- What is a Trading App?
- Which forex trading apps accept MPesa?
- What is the difference between forex and stock trading apps?
- How to compare the best trading apps against each other.
- Which Trading Apps are best for beginner Uganda Traders?
- Which trading app offers a sign-up bonus for first-time traders in Uganda?
- Which trading app offers a low minimum deposit of $5 (18 434 UGX) to start trading?
- Which trading app offers 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-tested forex trading apps…
Let’s dive right in…
- Lesche Duvenage
Best Forex Trading Apps in Uganda
| 🥇 Forex Broker | ✔️ IOS Compatible? | ✔️ Android Compatible? | 💻 UGX Account | 📱 UGX Deposits | 👉 Open Account |
| 1. FXTM | Yes | Yes | No | Yes | 👉 Open Account |
| 2. AvaTrade | Yes | Yes | No | No | 👉 Open Account |
| 3. Alpari | Yes | Yes | No | Yes | 👉 Open Account |
| 4. Exness | Yes | Yes | No | Yes | 👉 Open Account |
| 5. FBS | Yes | Yes | No | Yes | 👉 Open Account |
| 6. HFM | Yes | Yes | No | No | 👉 Open Account |
| 7. ThinkTrader | Yes | Yes | No | No | 👉 Open Account |
7 Best Forex Trading Apps in Uganda
What is mobile forex trading, and how does it work?
👉 Mobile forex trading refers to trading currencies, commodities, and other financial instruments on the foreign exchange market using a smartphone or other mobile device.
👉 To engage in mobile forex trading, you must download a mobile trading app from either your forex broker or the app store for your device’s operating system. After installing the app, you must establish an account with the broker and fund it.
👉 To begin trading, you must choose a currency pair to trade, such as the Euro and the United States dollar (EUR/USD) and decide whether to buy or sell the pair. You can then choose your own price at which to join the market or use the broker’s predetermined pricing.
👉 After placing a trade, you may use the mobile app to monitor your position and make any required modifications. Using this application, you can also see real-time quotes, charts, and news, manage your account, and make deposits and withdrawals.
👉 Mobile forex trading enables you to trade while on the go, allowing you to trade from anywhere with an internet connection. Nonetheless, it presents additional risks, such as the possibility of data breaches or illegal account access if your device is lost or stolen.
1. FXTM Trader
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
Overview
👉 FXTM is a reliable foreign exchange platform used by traders in more than 180 countries and is fully regulated. It is designed for professionals and beginners in Uganda, with flexible leverage based on your knowledge and experience.
👉 The platform offers fixed and variable spreads and processes withdrawal requests within a few minutes. It also has fast execution rates, daily market research commentaries, and a range of free trading tools.
👉 You can access the platform on various devices, covering 100% of deposits up to $1,000. Additionally, it offers a demo account with tutorials, webinars, and a dedicated account manager for beginners.
👉 Trading with FXTM is fast, secure, and beginner-friendly, with various strategies and tools available to help with investing. As a globally licensed platform, your funds are also guaranteed to be protected.
Features
| 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 |
Our Verdict on the FXTM App
👉 The FXTM trading software is great for Ugandan traders, whether they are seasoned professionals or total beginners. The user-friendly interface provides a variety of choices, including technical analysis, charting tools with integrated technical indicators, over 2,000 custom indicators, and more.
2. AvaTradeGO
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
Overview
👉 The AvaTrade Go mobile app provides traders with minimal spreads and high leverage while on the go. In addition, AvaTrade is a good option for those who want to trade in less common currencies since it offers access to more than 250 currency pairings.
👉 What sets AvaTrade apart from the competition is its industry-leading news and trading insights, which include daily updates for forex trading, as well as its active social trading community, which allows users to observe and emulate the actions of their top traders.
👉 In forex trading, accessing daily news that can be downloaded to your phone is invaluable since it allows you to respond quickly to potential market-moving events.
👉 User evaluations consistently praise the app’s design and functionality. Clear charts, management tools, and notifications are just some of the many features available to traders.
Features
| 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. |
Our Verdict on the AvaTradeGO
👉 Regardless of their level of expertise, AvaTrade is one of the top brokers for traders all over the globe. For Ugandans, the customized applications provide a variety of instruments, quick deposits and withdrawals, and a variety of trading options.
3. Alpari
Overall Rating
- 4.7/5
Min Deposit
USD 100
Regulators
FSC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
48
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
👉 Alpari Mobile is an in-house designed trading application of the prominent Forex broker Alpari. You can also use the app to register trading accounts directly with Alpari and get real-time price quotations for all major financial markets, including Forex, equities, indices, and futures.
👉 The software is extremely customizable and contains a built-in economic calendar, news section, market reviews that can be sorted by asset class, and a snapshot of the current interest rates of all of the world’s main central banks.
👉 The app is compatible with MetaTrader and is accessible on iPhones, iPads, and Android-powered smartphones.
Features
| Feature | Information |
| ⚖️ Regulation | Financial Services Commission Mauritius (FSC) |
| ⚖️ CBN Regulation? | No |
| 📊 Trading Accounts | Forex Standard Account, Forex Micro Account, Forex ECN Account, Forex Pro Account |
| 📊 Trading Platform | MetaTrader 4, MetaTrader 5, Alpari Trading App |
| 💰 Minimum Deposit (₦) | 1,000 Ugandan Naira or 5 EUR, USD, or GBP |
| 💰 Trading Assets | Forex Majors, Forex Minors, Forex Exotics, Forex RUB, Spot Metals, Spot Commodities, Stock Trading, Spot Indices |
| 🔎 Ugandan Naira-based Account? | Yes |
| 💳 NGN Deposits Allowed? | Yes |
| 💰 Bonuses for Ugandan traders? | Yes |
| 📈 Minimum spread | 0.4 pips EUR/USD |
| 📊 Demo Account | Yes |
| ☪️ Islamic Account | Yes |
| ✴️ Social Trading Offered | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Well-regulated and award-winning CFD broker | Fixed spreads are not offered |
| Offers forex trading signals from AutoChartist and automatic trading | Not regulated by the Financial Conduct Authority, Cyprus Securities and Exchange Commission, or any other popular market regulators |
| MetaTrader 4 and MetaTrader 5 are supported across devices | There is a limited selection of trading instruments, educational tools, and research |
| News is streamed from FxWirePro | There are restrictions on several jurisdictions |
| A dedicated customer support team offers multilingual customer support | |
| Offers unique solutions to both beginner and experienced traders | |
| There are four retail investor accounts to choose from, demo accounts, and Islamic accounts | |
| There are several convenient funding options to choose from and deposit fees are not charged |
Our Verdict on the Alpari App
👉 Alpari not only has among the lowest and most competitive spreads in the industry but also has the greatest localized customer assistance for Ugandan traders through its local office.
👉 In addition, Alpari’s mobile app provides extra functionality and enables flexible and mobile trading.
4. 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
Overview
👉 Exness offers a custom mobile app and the popular MetaTrader 4 and 5 trading platforms, which can be used on desktop computers, online browsers, mobile devices, and tablets.
👉 The Exness app has a clean design and offers easy access to trading tools, while the MetaTrader platforms offer a wider range of charts, custom indicators, and algorithmic trading capabilities.
👉 Exness also provides a personalized version of the platform, which allows traders to take their platform with them if they switch brokers. Furthermore, the mobile app and trading platforms suit beginners and experienced traders.
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 |
Our Verdict on the Exness App
👉 The Exness app allows traders to trade from anywhere in the world, given they have an internet connection. Ugandans can easily stay updated on market movements and monitor their trading positions. With MT4 and 5 apps, traders can easily manage, open, and close transactions.
5. FBS Trader
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
👉 The high leverage of up to 1:3000 offered by FBS makes it one of the few top trading applications for Tanzanian traders on the list. Still, market participants should exercise caution and abide by standard risk management practices.
👉 The FBS Trader app is a portal via which customers of the MT4 and MT5 trading platforms may access and manage their accounts from a mobile device or tablet, despite the program’s misleading name. With the FBS Trader app, you can get started trading in minutes.
👉 After you join up, you will be taken through a quick tour of the site’s fundamentals. With this app’s streamlined UI, you can easily toggle between your existing account and a test environment.
👉 The software package includes an educational video collection, a useful economic calendar, and a question-and-answer submission mechanism.
👉 Ugandan traders can easily monitor their positions and orders in real-time and open, close, modify, or cancel them. In addition, FBS supports its proprietary software and MT4 and MT5 for mobile trading on Android and iOS.
👉 However, compared to traditional PC trading platforms, their usefulness is limited (such as fewer time frames and charting choices). Traders can still change orders, figure out their profit and loss, and conduct transactions without ever leaving the charts.
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 |
Our Verdict on the FBS App
👉 Because of its low minimum investment amount, a wide variety of technical indicators, and innovative features, FBS is a respected online broker for Ugandan consumers.
👉 Furthermore, the FBS app gives Ugandans access to many financial markets, including stock markets, foreign currency markets, and other investment options.
👉 FBS charges some of the lowest spreads and currency rates as part of its competitive trading conditions. In addition, FBS Trader provides financial news, financial services, and superior market analysis.
6. 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 a highly reputable and regulated hybrid STP and ECN broker that offers popular mobile applications for traders in Tanzania.
👉 These apps, known as the HF App, provide access to a wide range of products across various asset classes and offer a modern, user-friendly interface that is highly customizable.
👉 The HF App includes a built-in economic calendar, making it easy for Ugandan traders to deposit, withdraw, and transfer funds.
👉 In addition, HFM’s MT4 and MT5 applications allow traders to conduct trades from any location, with various tools and features such as nine different timeframes, thirty different indicators, and interactive currency charts.
👉 Tanzania traders can easily close orders, make changes, and track their gains or losses on these platforms. In addition, Ugandans have access to a wealth of resources, including instructional materials and news about their preferred instruments.
👉 Overall, the HF App is a top-rated mobile trading application that offers great flexibility and convenience for traders in Tanzania.
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 |
Our Verdict on the HF App
👉 MT4/5 and the HF App provide Ugandan traders with the greatest tools available. They are suitable for novice and experienced traders and provide a wide range of features, competitive trading conditions, and other benefits.
7. ThinkTrader
Overview
👉 ThinkTrader, previously known as Trade Interceptor, is an excellent choice if you are in the market for a sophisticated forex trading and research platform.
👉 You can easily research and track the top currencies and stocks to invest in with the help of this tool. There are 14 diverse, sophisticated charts, plus over a hundred intelligence indicators and sketching tools.
👉 The app was originally designed for desktop computers but has now been ported to mobile devices. As a result, trading can be managed easily, and several markets can be monitored simultaneously using split-screen and quad-screen views.
👉 The ThinkTrader software, like many others, relies on cloud computing to provide constant access to features such as historical data, real-time market data, and real-time price alerts on any device.
👉 ThinkTrader offers real-time price quotations for commodities, indices, precious metals, and cryptocurrencies, as well as for the most liquid foreign exchange pairs. Moreover, you can access carefully chosen news on the Asian, European, and American markets.
👉 In addition, a wealth of built-in trading tools is available, such as an economic calendar, data release notifications, a trading simulator, intelligence reports, and a risk scanner.
👉 As a result of their authorization and regulation by the Financial Conduct Authority (FCA) in the United Kingdom and the Australian Securities and Investments Commission (ASIC), Ugandans are more likely to put their faith in them.
👉 Furthermore, Android and iOS users can get the software at no cost. ThinkTrader’s user-friendly features include the following:
➡️ A unified login across all of a trader’s devices for seamless trading.
➡️ A consistent interface across desktop, mobile, and tablet devices.
➡️ Robust technical analysis instruments that make discovering innovative approaches to analysing the markets faster and easier.
➡️ Also available are in-app deposits and withdrawals.
➡️ Fully configurable reports detailing your trading history.
➡️ Real-time news feeds from FxWirePro.
Features
| Feature | Information |
| 🥇 Associated Broker | ThinkMarkets |
| 📱 iOS compatible | Yes |
| 📱 Android Compatible | Yes |
| 💵 Assets offered | • Forex • Share CFDs • Commodities • Precious Metals • Indices |
| 💸 Fees Charged | • Spreads • Commissions • Inactivity Fees • Overnight Fees |
| ✅ Crypto trading offered? | No |
| ✔️ User-friendly? | Yes |
| 🤝 Reviews | • Google Play – 5,200 • App Store – 151 |
| 📈 Ratings | • Google Play – 4/5 • App Store – 4.5/5 |
| 💰 Minimum deposit | 0 UGX ($0) |
| 💻 Demo Account | Yes |
| 💵 Ugandan Market Share | <5% |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Ugandans can expect narrow spreads from 0.0 pips on major instruments. | Ugandans cannot register a Cent Account with ThinkMarkets. |
| There is no dedicated minimum deposit requirement, allowing Ugandans to invest whichever amount they can. | There are currently no incentives offered. |
| ThinkMarkets is well-regulated, and its app is highly rated on Google Play and the App Store. | Ugandans cannot register a UGX-denominated account. |
Our Verdict on the ThinkTrader App
👉 ThinkTrader is a popular mobile app that can be downloaded on Android and iOS devices. ThinkTrader offers Ugandans a user-friendly trading environment, and they can access different analysis tools and risk management features.
What to Consider when Selecting a Forex Trading App in Uganda
👉 Forex trading is an exciting and rewarding method of generating income. However, as the forex market is unregulated, there are no rules or regulations to safeguard you if your broker goes out of business or their workers defraud you.
👉 The easiest approach to prevent these issues is by using a forex trading software that gives various tools for trading efficiently, securely, and profitably. Here are some characteristics to look for in your future forex trading application.
Advanced Analytics and Tracking
👉 Advanced analytics and monitoring inside a forex trading software enable you to identify the most advantageous currencies to buy or sell on any given day. You can also download an app that assists you in selecting currencies that can be shorted (sold).
👉 Setting alerts for currencies when they reach a certain price, software-driven trading alerts, and historical data guarantee that you make prudent judgments. As a result, investors never gamble with their hard-earned funds.
Automatic Updates
👉 If you want to remain abreast of the latest news and trends impacting currency markets, you will need an app that automatically updates itself as the latest information becomes available.
👉 This means that even if you are not at your computer when anything occurs, such as a large economic report being issued or a major political event occurring in another nation, you will still be able to view what is happening in real-time on your phone or tablet while you are active.
Charting Tools
👉 Charting helps traders watch the performance of different assets across time so they can measure how well they are doing at any moment. Forex charts offer traders crucial information on price fluctuations over time, allowing them to discover potential trading opportunities.
Educational Material
👉 In an ever-changing marketplace, information is power. The top forex trading applications provide information on the technical aspects of trading and the most recent international news and editorials.
👉 This assists traders in gaining a better understanding of how to determine which currencies will grow and decrease in value.
Functions ideal for Beginners and Expert Traders
👉 Choose a forex trading app useful for beginners and experts. You might be so inexperienced with the currency exchange market that you have no idea where to start; using the appropriate software guarantees, you know what is occurring while trading.
👉 An app that assists you from the beginning of your trip is more valuable than one that attempts to wow you with industry jargon and complicated graphics.
👉 If you are a sophisticated investor, you want customer-centric software, which is why it should be accessible to both novice and experienced traders.
Fees
👉 In foreign exchange trading, the “spread” is the difference between a currency’s bid and ask price and serves as your broker’s compensation for executing the deal.
👉 Even though most spreads are merely a fraction of a single unit of the currency you are dealing with, high-frequency Ugandan traders could rapidly have a sizeable portion of their earnings eaten away by charges.
👉 Do not be scared to browse around until you discover a forex broker with reasonable costs; this will help you reduce trading losses. Of course, spreads and commissions must be budgeted for, but you should not overspend.
👉 Furthermore, you are making plans for the future, and therefore you should safeguard your capital.
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
👉 Forex markets were formerly accessible primarily to huge financial organizations and governments. However, online trading platforms have enabled even those with little starting capital to participate in these markets.
👉 In addition, the top forex trading applications for smartphones and tablets make trading and investing in foreign currencies a breeze.
FAQ
What is the best forex trading app for beginners?
AvaTradeGo is the best forex trading app for beginners in Uganda. It features comprehensive educational materials, guides, dedicated customer support, and a free unlimited demo account.
Where can I get a free forex trading app in Uganda?
You can get free trading apps from forex brokers such as Exness, HFM, AvaTrade, FXTM, and other Forex and CFD brokers.
What is the best forex news app in Uganda?
Some of the best forex news apps include Bloomberg, ForexFactory, FXStreet, TradingView, NetDania, and others.
How can Ugandans get access to a forex trading app demo?
Ugandans can open a demo account from within their broker’s forex trading app if it is a part of the overall offer.
How much does it cost for a forex trading app download?
Most forex trading app downloads are free from Google Play and the App Store. However, to start trading, you might need to pay a minimum deposit to register a live trading account with your broker. Most brokers allow you to do this from within the app, making verification easier.
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