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Forex brokers who conduct financial activities in Uganda are not formally regulated by the Ugandan CMA; nonetheless, Ugandans are protected by regulators such as the FSCA, FCA, CySEC, and others.

Here, you'll find information about the most reputable Ugandan brokerages, all of which comply with applicable regulations. Ugandans can have faith in these brokers because they have earned a high trust rating.

1. HF Markets

Overview

At HF Markets, customers can choose from a wide range of assets to trade. Not only do they offer competitive bonuses and loyalty awards, but they also provide helpful tools that can be used by both new and experienced traders, according to this HF Markets review. 

Pros and Cons

Pros

No deposit or withdrawal fees

Competitive spreads 

Cons

High commission charges on the Zero account

Features

Feature                                                Information

Regulation                                          CySEC, DFSA, FCA, FSA, FSCA

Minimum deposit from                       $5

Average spread from                           0.0 pips

Commissions from                              USD 0.03 per 1K lot.

Deposit/Withdrawal Fees                    None

Maximum Leverage                            1:1000

Bonuses                                               100% Supercharged Bonus

Customer Support                                24/5 

2. XM

Overview

Since its inception in 2009, XM has operated as a foreign exchange broker out of Cyprus. Its services can be accessed from any one of 196 countries, and the company's support staff is able to communicate in 30 different languages.

XM has been recognized as the Best Forex Broker in Europe and the Most Trusted Broker, among other accolades, thanks to the company's stellar performance and stellar reputation among traders, making it one of the best Forex brokers in Uganda. 

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 

3. InstaForex

Overview

Since 2007, InstaForex has called Russia home. The company has a global network of support workers that is well-equipped to serve consumers thanks to its 260 locations located in over 100 countries.

The company was an early adopter of Bitcoin and CFD trading on social media platforms like Facebook. InstaForex is the market leader thanks to its advantageous trading conditions and innovative technology solutions.

Pros and Cons

Pros 

Relatively high maximum leverage

No minimum deposit

Reputable regulation

Features

Feature                                               Information

Regulation                                          CySEC

Minimum deposit from                      No minimum deposit

Average spread from                          Average floating 0.8 pips 

Commissions from                            ‎None

Deposit/Withdrawal Fees                  None

Maximum Leverage                         1:1000

Bonuses                                            30% Deposit Bonus

Customer Support                            24/5 

👉Open a Free Trading Account Now

4. Tickmill

Overview

Since its inception in 2014, Tickmill has been supervised by a number of the world's most prestigious foreign exchange authorities. The broker is reliable and can be trusted by consumers and businesses all across the world.

Pros and Cons

PROS 

Competitive pricing

Well regulated

High leverage

Advanced trading software

STP model

Features

Feature                                                 Information

Regulation                                             FSA

Minimum deposit from                         $100

Average spread from                             0.1 pips 

Commissions from                                ‎2 per side per 100,000 traded

Deposit/Withdrawal Fees                      None

Maximum Leverage                             1:500

Bonuses                                                 $30 Welcome Bonus

Customer Support                                  24/5 

5. SuperForex

Overview

As the leading Islamic and Swap-Free forex broker in Uganda, SuperForex is your best option. Ugandan Muslims who trade on SuperForex can choose between Islamic Accounts designed specifically for them. 

SuperForex has some of the greatest trading conditions and a wealth of research tools for experienced traders.

Pros and Cons

Pros 

Regulated broker 

Social trading supported 

MetaTrader 4 supported 

Managed accounts offered

Choice in retail trading accounts

Cons

Offshore regulation

Only one trading platform supported

Spreads are not the tightest in the industry

Features

Feature                                                     Information

Regulation                                                 IFSC

Minimum deposit from                             $1

Average spread from                                Variable

Commissions from                                   None

Deposit/Withdrawal Fees                        Yes

Maximum Leverage                                1:1000

Bonuses                                                  Yes

Customer Support                                  24/7

Also Read: Equity Bank launches online forex trading platform