The Forex market is not only amongst the largest financial markets in the world but also one of the most easily accessible since traders do not need large sums of capital to get started in trading forex.
In addition to catering for traders from around the world, there are numerous forex brokers who welcome and accommodate traders from African countries such as Uganda.
In an attempt to build their client base, forex brokers offer traders with numerous promotions and bonuses to help them get started on their forex journey. One of these bonuses is that of a welcome, or no deposit bonus.
Some of the best forex brokers for Ugandans that offer no deposit bonuses
AvaTrade
AvaTrade is an award-winning regulated broker that accommodates a wide range of traders from around the world.
AvaTrade offers numerous promotions, competitive trading conditions and comprehensive trading solutions.
When signing up for a live trading account, Ugandan traders are offered at least $200 (about Shs747, 000) as first-time sign-up bonus and this gives the beneficiaries a head-start in trading activities. Although this deposit bonus is non-withdrawable, the profits made from it can be withdrawn.
OctaFX
OctaFX is a well-regulated Forex broker based in Saint Vincent and the Grenadines. As such, the brokering agency welcomes traders from around the world while making use of its comprehensive trading services and competitive trading conditions.
Ugandan traders reportedly receive up to 100$ (about Shs374, 000) as bonus on each deposit made.
RoboForex
RoboForex is equally – a regulated market maker, ECN, and STP broker that caters for a variety of traders in numerous jurisdictions and countries.
Signing up for a live trading account for the first time with RoboForex better positions a Ugandan trader to receiving not less than $30 (Shs112, 000) cash deposit bonus.
However, the minimum deposit for registering an account with RoboForex is $10 (Shs37, 300) with the benefit that traders are rewarded relatively quicker since their accounts are always approved.
XM
STP, ECN Forex broker team up with XM broker to offer trading solutions and services to traders from around the world.
Here, Ugandans who register a live trading account receive a bonus of $30 (Shs112, 000) on their initial attempt. Additionally, traders under XM have access to some competitive trading conditions in the industry together along with trading services, dedicated support, and more.
InstaForex
InstaForex has been in operation since 2007 – facilitating trade in numerous financial instruments.
Registering for a live trading account under InstaForex entitles Ugandan traders to a 30% welcome bonus in addition to a 100% deposit bonus activated once the trader’s account application is approved.
Final Thoughts
Forex trading can be done with minimal capital when using forex brokers that offer welcome and no deposit bonuses. Although the terms and conditions of such bonuses are strict, traders can benefit greatly from them and kick-start their forex trading journey.
The brokers listed above are reputable and cater for traders irrespective of their trading skills, knowledge, and experience.
This article is sponsored by African Media Links
