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5 Trusted forex brokers for traders in Uganda

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September 1, 2022
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5 Trusted forex brokers for traders in Uganda
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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.

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  1. 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

  1. 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

  1. 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

👉Open a Free Trading Account Now

  1. 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 

  1. 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 

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