The 🏆 best forex brokers in Uganda 2021 👍💰

Looking for the best forex brokers in Uganda?

We’ve put together a list of the top and the best forex trading brokers you can trade forex with in 2021.

If you are looking for forex brokers that accept mobile money – we’ve got three for you.

Looking for forex brokers in Uganda with a no deposit bonus? We’ve got two for you.

Bana Uganda, avoid the forex scams that have rocked town and trade with only regulated forex brokers.

I am a Ugandan – born and bred. I’ve traded with all these brokers on a live account and have withdrawn money. That is why I recommend them.

The 🏅 Top Forex Brokers in Uganda.

  1. 🥇 Exness Uganda – Best forex broker in Uganda using MTN MoMO and Airtel Money and direct bank transfers. Instant withdrawal.
  2. 🥈 XM – Best forex broker in Uganda that accepts mobile money up to an equivalent of $500 no deposit bonus
  3. 🥉ForexTime (FXTM) – accepts mobile money up to UGX5M – easy to join.
  4. 🏅TickMill – Best tight spreads and commissions forex broker.
  5. 🏅 HotForex – Best 100% deposit bonus forex broker
  6. 🏅 ICMarkets – The best ECN, PayPal and Multi-platform Broker

The Best Forex Brokers In Uganda

ForexTime (FXTM)

fxtm logo

Open an Account
Quick info
Founded: 2011
Regulator: CySEC – Cyprus, FSCA – South Africa, FCA – UK.
Minimum deposit: $10 – Cent. $100 Standard. $500 ECN
Leverage: Up to 1:2000
Average spread: 0 -1.5 ECN. From 1.3 – Standard
Platforms: MT4, MT5, Web, Mobile  
  Why trade forex with ForexTime.
– Super tight spreads
– Multiple withdraw and deposit methods
– Easy to open verify an account
– Regulated broker  
– Accepts Mobile Money
ForexTime Review

Exness

Exness logo - forex brokers in Africa

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Quick info
Founded: 2008
Regulator: FSA, Seychelles
Minimum deposit: $1
Leverage: Up to 1:2000
Average spread: 0 (Zero and Raw spread) 0.3 – Standard
Platforms: MT4, MT5, Web, Mobile  
  Why trade forex with Exness.
– Super tight spreads
– Instant automated Withdrawals and deposits 24/7
– Multiple withdraw and deposit methods
– Negative balance protection
– Regulated broker
– Mpesa and Mobile money broker  
– Funding in local currency

IC Markets

icmarkets logo - forex brokers in Africa

Open an Account

IC Markets Review
Quick info
Founded: 2007
Regulator: ASIC Australia, FSA Seychelles, CySEC Cyprus
Minimum deposit: $200
Leverage: Up to 1:500
Average spreads : 0 (cTrader and Raw spread) and from 1.0 – Standard
Commissions : only on cTrader –  $6.0 and Raw Spread – $7 per lot round-turn
Platforms: MT4, MT5, cTrader, Web, Mobile  
  Why trade forex with IC Markets.
– Super tight spreads
– Multiple withdraw and deposit methods
– Supports PayPal deposits and withdrawal
– Regulated broker    

HotForex

HotForex- forex brokers in Africa

Open an Account.
Quick info
Founded: 2010
Regulator: FCA United Kingdom, FSA Seychelles, DFSA Dubai, FSCA South Africa
Account currency: USD, EUR, GBP
Minimum deposit: $5
Leverage: Up to 1:1000
Average spreads: EURUSD – 1 pip, GBPUSD
Commissions: $7 per lot round-turn on the Zero Spread account.
Platforms: MT4, Web, Mobile  
  Why trade forex with HotForex.
– Up to 100% trading bonus on deposits on some accounts
– Multiple withdraw and deposit methods
– Tight spreads on the Zero spread account
– Regulated in many countries
– Negative balance protection

Tickmill

Tickmill - forex brokers in Africa

Open an Account.
Quick info
Founded: 2015
Regulator: FSA Seychelles, CySEC Cyprus, FCA United Kingdom
Account currency: USD, EUR, GBP
Minimum deposit: $5
Leverage: Up to 1:500
Average spreads: EURUSD – 1 pip, GBPUSD
Commissions: $4 per lot round-turn – only on the Pro account.
Platforms: MT4, Web, Mobile  
  Why trade forex with Tickmill.
– Super tight spreads
– Very low commissions
– Multiple withdraw and deposit methods
– Regulated broker  

XM

XM - forex brokers in Africa

Open an account
Quick info
Founded: 2009
Regulator: CySEC Cyprus, IFSC, FCA United Kingdom, ASIC Australia, DFSA Dubai
Base currency: USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR
Minimum deposit: $5 on Standard and Micro and  $50 on XM Ultra-Low Account
Leverage: Up to 1:888
Average spreads: 1 pip (Standard and Micro) 0.6 – on XM Ultra-Low Account Platforms: MT4, MT5, Web, Mobile    
  Why trade forex with XM.
– Multiple withdraw and deposit methods
– Supports mobile money funding
– Negative balance protection
– Regulated in many countries  

I have experience trading with these and many other forex brokers since 2010 and am confident they are the best brokers to trade forex with in Uganda.

I will now show you which broker is best in what.

The best forex brokers that accept mobile money. (MTN mobile money and Airtel Money)

Exness Uganda, XM, HotForex, and ForexTime (FXTM) are the best forex brokers in Uganda that accept mobile money – MTN mobile money and Airtel money.

You can deposit or withdraw up to UGX 3,450, 000 with Exness, $132 with XM and UGX5million with FXTM per transaction.

If you intend to deposit or withdraw more than that, make multiple transactions.

Forex brokers in Uganda with the best trading bonus

HotForex has the craziest bonuses to choose from. If you want to increase your trading equity by up to 100% of your deposit, then Hotforex is for you. XM also has some great bonuses and promotions.

Answers to forex trading questions

Frequently asked questions about forex brokers and forex trading in Uganda.

Go here for answers to questions beginners ask about forex trading.

Is forex trading legal in Uganda?

Yes, forex trading is legal in Uganda.

How do I calculate forex trading costs?

For spreads, your trading costs are the difference between the buying and selling prices.

For ECN or Raw trade accounts – commissions are transparently displayed by the broker. For instance, on Tickmill, the cost is $4 per standard lot round-turn – that is $2 when you enter and $2 when you close the trade.

Most brokers provide trading tools – like calculating margin requires – that can help you figure and plan for your trading.

Where do I learn how to trade forex?

All the forex brokers I recommend have great Education programs for both beginners and advanced traders.

However, if you are new to trading, I recommend starting with www.babypips.com

How to choose a forex broker

Read our comprehensive guide on how to choose a forex broker here.

The best forex Broker In Uganda compared side by side.

Use this table with reviews of the top forex brokers to compare all the FX brokers we have

Forex Broker Reviews

Broker Min Deposit Demo Trading Platforms Bonus Trading Costs
Exness $1 Yes MT4, MT5, Web, Mobile No From 0.1 pip spread
Tickmill $5 Yes MT4, Web, Mobile $30 no deposit bonus$4 per lot round-turn
IC Markets $200 Yes MT4, MT5, cTrader, Web, Mobile No From 0.1 pip spread
HotForex $5 Yes MT4, MT5, Web, Mobile 100% deposit bonusFrom 1 pip spread
XM $5 Yes MT4, MT5, Web, Mobile $30 no deposit bonus.

20-50% deposit bonus.
From 1 pip spread

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