With a young, tech-savvy generation eager to profit from the world’s largest financial market, Uganda has seen a significant rise in the popularity of Forex trading.
Listed below are the top five Forex brokers for Ugandan newcomers, each of them offers a user-friendly platform, good regulation, and exceptional service.
- AvaTrade
Overview
AvaTrade is one of the most trustworthy Forex brokers in Uganda that provides clients with an intuitive user interface that simplifies the process of copy trading. AvaTrade gives its customers access to a number of different trading platforms, each of which can be customized to better meet the requirements of a particular customer.
Pros and Cons
|
PROS |
CONS |
|
Broad range of tradable instruments |
High EURUSD and inactivity fees |
|
MetaTrader 4 and 5 available |
|
|
Excellent educational resources |
Features
|
Feature |
Information |
|
Regulation |
Central Bank of Ireland, MiFID, ASiC, BVI |
|
Minimum deposit from |
$100 |
|
Average spread from |
0.9 pips |
|
Commissions from |
No commission on Forex |
|
Deposit/Withdrawal Fees |
None |
|
Maximum Leverage |
1:400 |
|
Bonuses |
First Deposit Bonus |
|
Customer Support |
24/5 – multilingual |
- Pepperstone
Overview
Since its inception in 2010, Pepperstone has witnessed extraordinary expansion. Beginner traders have the ability to profit from competitive spreads, get a Forex no deposit bonus, responsive customer care, and a broad variety of third-party platforms, which includes a number of social copy trading possibilities.
Pros and Cons
|
Pros No minimum deposit Low trading fees for forex No added costs for withdrawals or deposits |
Cons Limited number of instruments No additional research tools |
Features
|
Feature |
Information |
|
Regulation |
FCA, ASIC |
|
Minimum deposit from |
AUD200 |
|
Average spread from |
0.4 pips |
|
Commissions from |
$3.76 commission per lot per trade |
|
Deposit/Withdrawal Fees |
None |
|
Maximum Leverage |
1:500 |
|
Bonuses |
None |
|
Customer Support |
24/5 |
- Exness
Overview
Forex traders who use Exness can take benefit of lower transaction costs and a broker that is subject to stringent regulatory oversight.
Exness provides new customers with the opportunity to receive a Forex no deposit bonus when they open a trading account with the brokerage. It is generally agreed upon that Exness is among the most reputable Forex brokers in Uganda.
Pros and Cons
|
PROS |
CONS |
|
Well-regulated |
|
|
Tight spreads |
|
|
Over 130 currency pairs |
Features
|
Feature |
Information |
|
Regulation |
CySEC, FCA |
|
Minimum deposit from |
$1 |
|
Average spread from |
1.3 pips |
|
Commissions from |
3 USD and 10 USD per 1 lot for CFDs |
|
Deposit/Withdrawal Fees |
None |
|
Maximum Leverage |
1:2000 |
|
Bonuses |
Standard +10% Bonus Programme |
|
Customer Support |
24/5 – multilingual |
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- XM
Overview
When it comes to matters pertaining to currency exchange and the financial markets, XM is a well-known brand. Customers of XM are given access to an enhanced version of the MetaTrader 4 and MetaTrader 5 trading platforms, giving them the ability to trade in over a thousand assets at prices that are competitive with the market.
Pros and Cons
|
Pros Low minimum deposit Comprehensive educational offering Streamlined account opening process |
Cons Inactivity fee charged after 90 days on live accounts Limited product portfolio |
Features
|
Feature |
Information |
|
Regulation |
IFSC, ASIC, CySEC, FCA and DFSA |
|
Minimum deposit from |
$5 |
|
Average spread from |
0.1 pips |
|
Commissions from |
$3.5 commission per $100 000 traded |
|
Deposit/Withdrawal Fees |
None |
|
Maximum Leverage |
1:30 |
|
Bonuses |
$30 Trading Bonus |
|
Customer Support |
24/5 |
- OctaFX
Overview
Trading contracts for difference (CFDs) on OctaFX is made simple across a broad range of underlying assets. These underlying assets might be anything from indices and commodities to cryptocurrencies and digital tokens, amongst other things.
In addition, OctaFX offers a wide variety of trading accounts, copy trading, bonus promotions, and an extensive collection of research tools.
Pros and Cons
|
PROS |
CONS |
|
Ultra-fast execution |
No VPS available |
|
More than 30 forex pairs available Well-regulated |
No Forex educational tools |
Features
|
Feature |
Information |
|
Regulation |
CySEC |
|
Minimum deposit from |
$100 |
|
Average spread from |
0.7 pips |
|
Commissions from |
None |
|
Deposit/Withdrawal Fees |
None |
|
Maximum Leverage |
1:500 |
|
Bonuses |
50% Deposit Bonus |
|
Customer Support |
24/5 |
