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 2024.
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 I’ve traded with all these brokers on a live account and have withdrawn money.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.
- 🥇 Exness Uganda – Best forex broker in Uganda. Instant withdrawal 24/7.
- 🥈 XM – Best forex broker in Uganda that accepts mobile money up to an equivalent of $500 no deposit bonus
- 🥉ForexTime (FXTM) – accepts mobile money up to UGX5M – easy to join.
- 🏅TickMill – Best tight spreads and commissions forex broker.
- 🏅 HotForex – Best 100% deposit bonus forex broker, Accepts Mobile Money
- 🏅 ICMarkets – The best ECN, PayPal and Multi-platform Broker
The Best Forex Brokers In Uganda
ForexTime (FXTM)
 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 |
Exness
 Open an Account | 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
 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 withdrawal and deposit methods – Supports PayPal deposits and withdrawal – Regulated broker |
HotForex
Withdrawals are processed within 2 – 31 hours. Withdrawals after 10 AM server time are processed on the next business day. You can withdraw profits to mobile money.
 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 withdrawal and deposit methods – Tight spreads on the Zero spread account – Regulated in many countries – Negative balance protection |
Tickmill
 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
You can not withdraw profits to Mobile Money. (You can only withdraw your deposit to mobile money, use alternative methods to withdraw profits)
 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, 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 $400 with Hotforex, $132 with XM, and UGX5million with FXTM per transaction.
If you intend to deposit or withdraw more than that, make multiple transactions.
Exness only supports MTN Mobile Money at the moment
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.
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
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 bonus | From 1 pip spread |
| XM | $5 | Yes | MT4, MT5, Web, Mobile | $30 no deposit bonus. 20-50% deposit bonus. | From 1 pip spread |
The new one that added mobile payments to its system is Fbs . It has just added it to its payments system l think last week or this week . Any one can also try to check it out if you using or would like to use this broker.