10 Best Forex Brokers in Uganda
We have compiled a list of the 10 Best Forex Brokers for traders in Uganda, offering access to global financial markets through reliable platforms, competitive spreads, and secure trading conditions. These brokers offer robust regulatory oversight and flexible account options, allowing both beginners and professionals to trade efficiently with confidence.
10 Best Forex Brokers in Uganda (2025)
- FXTM – Overall, the Best Forex Broker in Uganda
- Pepperstone – MT4 and MT5 are widely used by African traders
- AvaTrade – Offers mobile-focused platforms like AvaTradeGO
- XM – UGX-friendly deposit options via e-wallets
- IC Markets – E-wallet deposits available to Ugandan clients
- Vantage – Educational content accessible to Africans
- Eightcap – Local traders use MT4 and MT5 easily
- Axi – Transparent cost structure
- FP Markets – Popular for copy trading features
- Moneta Markets – Educational resources accessible to Ugandan traders
Top 10 Forex Brokers (Globally)*
1. FXTM
FXTM (ForexTime) holds valid licences in multiple jurisdictions, including the UK 🇬🇧 Financial Conduct Authority, the Cyprus 🇨🇾 Securities and Exchange Commission, Kenya 🇰🇪 Capital Markets Authority, and the Mauritius 🇲🇺 Financial Services Commission. Ugandan traders are allowed to open accounts, with support for local mobile banking (MTN, Airtel) for deposits.
| Feature | Regulatory Oversight | Local Deposit Methods | Global Reach |
| Licensed in Mauritius 🇲🇺 UK 🇬🇧 Cyprus 🇨🇾 Kenya 🇰🇪 | Ensures international regulatory standards | Supports MTN and Airtel mobile deposit in Uganda | Operates in 150+ countries under multiple regulated entities |
 | Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Crypto: Yes |
Frequently Asked Questions
Is FXTM regulated for residents of Uganda by a Ugandan regulator?
No. FXTM is not regulated by any Uganda-based regulator, such as the Uganda Capital Markets Authority or Bank of Uganda. Instead, Ugandan clients are served under its international licences, such as the FSC-Mauritius licence via Exinity Limited.
Does FXTM accept clients from Uganda, and how do deposits work?
Yes. FXTM accepts Ugandan clients. It offers local mobile banking options such as MTN or Airtel, which makes deposits simple and accessible for traders in Uganda.
Our Verdict
FXTM is not locally regulated in Uganda, but it is properly regulated elsewhere and does accept Ugandan traders. It provides accessible deposit methods and proper oversight through its international licences. As long as you understand the protections under those jurisdictions rather than Ugandan regulation, FXTM is a viable option.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐☆☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
2. Pepperstone
Pepperstone holds licences from multiple top regulators such as ASIC in 🇦🇺 Australia, FCA in 🇬🇧 UK, BaFin in 🇩🇪 Germany, CySEC in 🇨🇾 Cyprus, DFSA in the UAE, CMA in 🇰🇪 Kenya, and SCB in 🇧🇸 The Bahamas. Ugandan traders are accepted under Pepperstone’s entities regulated outside 🇺🇬 Uganda.
| Feature | Regulation Backbone | Trading Tools and Accounts | Local Trade Conditions |
| Regulated by multiple Tier-1 and Tier-2 regulators (ASIC, FCA, BaFin, CySEC, CMA, SCB) | Safety of funds via segregation and negative balance protection | Offers MT4, MT5, cTrader, Razor and Standard accounts, demo and Islamic accounts | No UGX-denominated account base; deposits and withdrawals involve currency conversion; minimum deposit required |
 | Minimum Deposit: $200 Regulated by: ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB Crypto: Yes |
Frequently Asked Questions
Is Pepperstone regulated by any Ugandan authority?
No. Pepperstone is not regulated by the Capital Markets Authority of Uganda or the Bank of Uganda. Ugandan traders use entities regulated by foreign authorities such as the CMA of Kenya or the FCA of the UK.
Does Pepperstone allow Ugandan residents to open accounts and trade?
Yes. Ugandan residents can open accounts with Pepperstone. They get access to trading platforms like MT4, MT5, cTrader, multiple trading instruments, and can use Islamic or demo accounts. Some limitations apply around leverage and the account currency base.
Our Insights
Pepperstone is not locally regulated in 🇺🇬 Uganda, but it is fully regulated by several high-standard international regulators and does accept Ugandan traders. If you accept the protections under those international licences rather than Ugandan law, Pepperstone offers a strong, safe, and feature-rich choice.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐☆☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐☆☆ |
3. AvaTrade
AvaTrade holds multiple licences with major regulators such as the Central Bank of Ireland 🇮🇪, ASIC in Australia 🇦🇺, FSCA in South Africa 🇿🇦, FSA in Japan 🇯🇵, and the British Virgin Islands FSC 🇻🇬. Ugandan traders are permitted to register with AvaTrade, although it does not hold a licence from Uganda’s Capital Markets Authority.
| Feature | Regulatory Backbone | Account Types and Platforms | Local Trade Terms |
| Regulated by top global authorities (Ireland, Australia, Japan, British Virgin Islands, South Africa) | Offers Retail Professional Islamic, and Demo accounts | Provides MT4, MT5, AvaTradeGO, AvaOptions, social and copy trading tools | Minimum deposit ~USD 100; no Ugandan Shilling denominated account; spreads from approx 0.9 pips on EUR/USD |
 | Minimum Deposit: $100 Regulated by: CBI, BVI, FSC, ASIC, FSCA, JFSA, FFAJ Crypto: Yes |
Frequently Asked Questions
Does AvaTrade have regulation in Uganda or under Ugandan authorities?
No. AvaTrade is not authorised or regulated by the Uganda Capital Markets Authority or any local Ugandan regulator. Ugandan users are served under its international or foreign licences, such as the British Virgin Islands FSC and regulators in Ireland, Australia, and South Africa.
Can someone living in Uganda open an account and trade with AvaTrade?
Yes. AvaTrade accepts traders from Uganda. Ugandan clients can open live accounts, use demo and Islamic account options, and trade via platforms like MT4 and MT5. Minimum deposit is about 100 USD or its equivalent in local currency.
Our Insights
AvaTrade does not have Ugandan regulatory licensing, but it operates under strong international licences and accepts Ugandan traders. Its offerings of platforms, account types, and trading instruments make it a reliable option, provided traders understand that local regulatory protections are not available.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐⭐ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
Top 3 Forex Brokers in Uganda – A Comparison
| Broker |  |  |  |
| Minimum Deposit | 200 USD | AU$10 | 100 USD |
| Fund Withdrawal Fee | Varies by method and account type | None | None |
| Spreads From | 0.1 pips | 0.0 pips | 0.9 pips |
| Spread Type | Variable Floating | Variable Floating | Variable |
| Commissions | Variable; often zero for standard accounts | Yes | None |
| Swap Fees | Daily fees after a certain time period | Yes | Applicable |
| Leverage | Up to 3000:1 | 1:500 (Pro) 1:200 (Retail) | Up to 400:1 |
| Min. Lot Size | 0.01 | Standard | Standard |
| Margin Requirements | Varies by instrument and account type | Varies | Varies by account type and instrument |
| Regulation | 🇬🇧 FCA 🇰🇪 CMA 🇲🇺 FSC 🇦🇪 SCA | 🇦🇺 ASIC 🇩🇪 BaFin 🇰🇪 CMA 🇨🇾 CySEC 🇦🇪 DFSA 🇬🇧 FCA 🇧🇸 SCB | 🇮🇪 CBI 🇻🇬 BVI 🇲🇺 FSC 🇦🇺 ASIC 🇿🇦 FSCA 🇯🇵 JFSA 🇯🇵 FFAJ |
| IB Affiliate Bonus Programs | Standard IB program | IB Program | Bonus 100% Affiliate IB Rebate Program |
| Open Account |  | | |
4. XM
XM operates under multiple reputable global licences such as CySEC in Cyprus 🇨🇾, ASIC in Australia 🇦🇺, and the FSC in Belize 🇧🇿. Although XM lacks a licence from the Uganda Capital Markets Authority, it does accept traders from Uganda through its globally regulated entities and ensures client protections like segregated accounts and negative balance protection.
| Feature | Licence Strength | Trading Platforms and Education | Local-Relevant Trade Terms |
| Licensed via CySEC 🇨🇾, ASIC 🇦🇺, FSC 🇧🇿 among others | Ensures oversight, audits, fund safety under global norms | Offers MT4 and MT5, wide educational resources (webinars, tutorials) | Low minimum deposit options; no UGX base currency; conversion cost applies when funding or withdrawing |
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐⭐ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
Frequently Asked Questions
Is XM regulated by Ugandan authorities?
No. XM does not hold any licence from Uganda’s regulators, such as the CMA Uganda or the Bank of Uganda. Ugandan clients trade under XM’s international regulatory entities, for example, the entity regulated by the FSC of Belize.
Can Ugandans open trading accounts with XM, and what are the deposit conditions?
Yes. Ugandan residents can open real accounts with XM. However, XM does not offer Ugandan Shilling (UGX) as a base account currency, so currency conversion costs may apply. Deposits and withdrawals follow international banking or payment methods.
Our Insights
XM is not locally regulated in Uganda but operates under several strong international licences and accepts traders from Uganda. If you understand that your regulatory protections come from these foreign authorities, XM offers safe trading with good account types, platforms, and educational support. It represents a solid option for Ugandan forex traders who look beyond local regulation.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐⭐ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
5. IC Markets
IC Markets is a globally regulated broker offering competitive trading conditions. While it is not regulated by the Capital Markets Authority of Uganda 🇺🇬, it accepts Ugandan traders. Clients can access various trading platforms and instruments, though they should be aware of the broker’s international regulatory framework.
| Regulation | Licensed by FSA Seychelles 🇸🇨, SIC 🇦🇺, CySEC 🇨🇾, SCB 🇧🇸 |
| Minimum Deposit | $200 (approximately 740,000 UGX) |
| Trading Platforms | MT4 MT5 cTrader TradingView |
| Account Types | Raw Spread Standard, Islamic |
| Leverage | Up to 30:1 for retail clients |
 | Minimum Deposit: $200 Regulated by: FSA Crypto: Yes |
Frequently Asked Questions
Is IC Markets regulated by Ugandan authorities?
No, IC Markets is not regulated by the Capital Markets Authority of Uganda 🇺🇬. However, it holds licenses from reputable international regulators, including the Financial Services Authority of Seychelles 🇸🇨, the Australian Securities and Investments Commission 🇦🇺, and the Cyprus Securities and Exchange Commission 🇨🇾.
Can Ugandan residents open trading accounts with IC Markets?
Yes, Ugandan residents can open trading accounts with IC Markets. The broker accepts clients from Uganda and offers various account types, including Raw Spread and Standard accounts, with a minimum deposit requirement of $200 (approximately 740,000 UGX).
Our Insights
IC Markets is not regulated by Uganda’s Capital Markets Authority 🇺🇬 but operates under strong international licenses. It accepts Ugandan traders, offering competitive spreads, multiple account types, and access to popular trading platforms like MT4, MT5, and cTrader. Traders should consider the lack of local regulatory oversight when choosing this broker.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
6. Vantage
Vantage is regulated by several major financial authorities, including the UK’s FCA, 🇦🇺Australia’s ASIC, 🇿🇦South Africa’s FSCA, and others, giving confidence in its credibility. Although Vantage does not have a specific licence in Uganda, it does accept Ugandan clients under an international entity.
| Feature | What Makes Vantage Stand Out for Uganda | Applicable Regulation/Entity | Key Risk to Note |
| Multiple licences | Holds licences from FCA, ASIC, FSCA etc., boosting trust. | UK (FCA) Australia (ASIC) South Africa (FSCA | Ugandan clients may deal under VFSC or entity with less stringent investor protection. |
| High leverage options | Offers leverage up to 500:1 under certain entities. | Entities outside of FCA or ASIC, e.g. VFSC onboarded accounts. | High leverage can magnify losses and risk owing money. |
| Platform choice and trading instruments | MT4, MT5, many Forex pairs, indices, metals, and more. | Global operations allowing diverse products. | Some instrument offerings may be limited depending on jurisdiction. |
| Transparent regulatory disclosures | Clearly lists regulated entities on its website. | Entities regulated by listed authorities. | Differences in protection depending on which license applies to you. |
 | Minimum Deposit: $50 Regulated by: CIMA, VFSC, FSCA, ASIC Crypto: Yes |
Frequently Asked Questions
Is Vantage regulated for operating in Uganda specifically?
No, Vantage is not licensed by Uganda’s financial regulator. Its oversight comes from authorities outside Uganda, such as the 🇬🇧FCA, 🇦🇺ASIC, 🇿🇦FSCA, among others. Ugandan traders are therefore not protected by local regulator guarantees but by the regulations of the jurisdiction under which their account is held.
Will Vantage accept me as a trader if I live in Uganda?
Yes, Vantage does accept clients from Uganda. Its terms do not include Uganda among the restricted countries. Ugandan traders are onboarded through one of their international regulated entities, which determines the protections, leverage, and conditions applicable to them.
Our Insights
Vantage is regulated by top-tier authorities and is available to Ugandan traders, but without local licensing from Uganda. Thus, Ugandan users gain many protections offered by the regulator of the entity they use, yet remain subject to risks in the absence of local legal jurisdictional assurances.
| # | Criteria | Score |
| 1. | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2. | Range of Investments, Platforms and Tools | ⭐⭐⭐☆☆ |
| 3. | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4. | Research and Education | ⭐⭐☆☆☆ |
| 5. | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6. | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7. | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8. | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9. | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10. | Markets Analysis and Trading Tools | ⭐⭐⭐☆☆ |
7. Eightcap
Eightcap holds licences from respected global regulators such as 🇦🇺Australia’s ASIC, 🇬🇧UK’s FCA, 🇨🇾Cyprus’ CySEC, and the 🇧🇸Bahamas’ SCB. It does not possess specific licensing from Uganda’s regulator but it does accept Ugandan clients under its international entities.
| Feature | What Makes Eightcap Stand Out for Uganda | Regulation/Entity |
| Global regulatory coverage | Licensed by multiple top-tier regulatory bodies giving confidence in security | 🇦🇺ASIC 🇬🇧FCA 🇨🇾CySEC 🇧🇸SCB |
| Trading instruments and platforms | Offers wide instrument range including forex, indices, crypto, stocks; supports MT4 and MT5 | International entities under ASIC, SCB and others |
| Leverage options | Up to 1:500 in some jurisdictions for those who qualify | Varies by regulatory entity under which your account is opened |
| Cost structure | Competitive spreads (especially in Raw account), relatively low fees overall | Disclosures under ASIC, FCA and others |
 | Minimum Deposit: $100 Regulated by: ASIC, FCA, CySEC, SCB Crypto: Yes |
Frequently Asked Questions
Is Eightcap officially authorised or licensed in Uganda?
No, Eightcap is not licensed by Uganda’s financial authorities. Its regulation comes from overseas bodies: ASIC, FCA, CySEC, SCB, among others. Ugandan traders are therefore under the protection offered by those regulators rather than any Ugandan licensing framework.
Does Eightcap accept clients from Uganda?
Yes, Eightcap accepts Ugandan traders. Its Ugandan users trade under its international regulated entities. The broker offers accounts to Ugandans with competitive spreads, leverage options, MT4 and MT5 platform support, and access to many instruments.
Our Insights
Eightcap is a well-regulated broker by major global authorities, and it does permit Ugandan traders to open accounts. While it lacks local Ugandan licensing, the protections from its licensed entities make it a strong option – provided Ugandan users are comfortable with non-local regulation and understand those associated risks.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐☆☆ |
8. Axi
Axi is regulated by top-tier authorities, including 🇦🇺Australia’s ASIC, 🇬🇧UK’s FCA, 🇩🇪Germany’s BaFin, and 🇩🇼St Vincent and the Grenadines’ FSA. While it is not locally licensed in Uganda, Axi does accept Ugandan traders under its international entities, offering global access and strong platform support.
| Feature | What Makes Axi Stand Out for Uganda | Regulation/Entity |
| Strong global regulation | Overseen by multiple tier-1 regulators ensuring credibility | 🇦🇺ASIC 🇬🇧FCA 🇩🇪BaFin, |
| Platform and tools | MT4 with advanced plugins, copy trading, and analytics | International entities under Axi Group |
| Wide market access | Forex indices commodities crypto CFDs | Global entities offer broad product range |
| Account options | Raw spreads and standard accounts with flexible deposits | Global regulation ensures transparency |
 | Minimum Deposit: $5 Regulated by: ASIC, FCA, DFSA, VFSC Crypto: Yes |
Frequently Asked Questions
Is Axi licensed by regulators in Uganda?
No, Axi is not licensed by Uganda’s financial authorities. Instead, it is authorised and overseen by leading regulators such as ASIC in Australia, FCA in the United Kingdom, and BaFin in Germany. Ugandan traders operate under international regulatory protection, not local licensing.
Can Ugandan traders open accounts with Axi?
Yes, Axi accepts clients from Uganda. Traders in Uganda can open accounts through its global entities, gaining access to MT4, forex, indices, commodities, and cryptocurrency CFDs. However, protections and conditions depend on the regulatory entity their accounts fall under.
Our Insights
Axi is a globally regulated broker with strong credibility and advanced platforms, and it accepts Ugandan traders. Although it lacks a licence in Uganda, its regulation under leading authorities ensures high trust, making it a secure option for traders willing to rely on international oversight.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
9. FP Markets
FP Markets is regulated by several top-tier authorities, including 🇦🇺Australia’s ASIC, 🇨🇾Cyprus’ CySEC, 🇿🇦South Africa’s FSCA, and 🇸🇨Seychelles’ FSA. It does not hold a license from Uganda’s regulator, but it does accept traders from Uganda under its international regulated entities.
| Feature | What Makes FP Markets Stand Out for Uganda | Regulation/Entity |
| Multi-jurisdiction regulation | Licensed by ASIC, CySEC, FSCA, and FSA of Seychelles, giving strong regulatory credibility | 🇦🇺 ASIC 🇨🇾 CySEC 🇿🇦 FSCA 🇸🇨 FSA |
| Wide instrument offering | Over 60 currency pairs, plus CFDs in indices, commodities, and more | Global entities provide broad markets |
| Platform variety | Supports MT4, MT5, and cTrader with advanced tools | Under regulated entities globally |
| Leverage and account types | Offers high leverage (up to 500:1) and multiple account types including Islamic account | Determined by regulatory entity under which user is registered |
 | Minimum Deposit: $100 Regulated by: ASIC, CySEC, FSCA, FSA, FSC, CMA Crypto: Yes |
Frequently Asked Questions
Is FP Markets licensed in Uganda?
No, FP Markets is not licensed by Uganda’s financial regulator. Instead, it operates under oversight from regulators such as ASIC, CySEC, FSCA, and the FSA of Seychelles. Ugandan traders, therefore, have regulatory protection from those jurisdictions, not from a Ugandan licensing authority.
Can someone living in Uganda open an account with FP Markets?
Yes, FP Markets accepts Ugandan traders. Uganda is not listed among countries restricted from account openings. Ugandan users can access many forex pairs, several trading platforms like MT4, MT5, and cTrader, and use deposit and withdrawal methods available globally.
Our Insights
FP Markets is solidly regulated globally and is open to Ugandan traders. Although it lacks licensing from Uganda’s regulator, its oversight by well-recognized regulatory bodies gives significant credibility and safety. Ugandan traders benefit from its strong compliance standards and diverse features, provided they understand that legal protections derive from foreign regulators.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐☆☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
Moneta Markets
Moneta Markets is regulated by reputable bodies such as 🇿🇦 South Africa’s FSCA under licence number 47490, and under Saint Lucia regulation for its international operations. It does not hold a licence in Uganda, but it does allow many non-restricted international clients to open trading accounts.
| Feature | What Makes Moneta Markets Stand Out for Uganda | Regulation/Entity |
| Strong South Africa base | FSCA regulation gives trust and regional stability | 🇿🇦 FSCA under licence 47490 |
| Broad instrument offering | Offers over 300 instruments including forex, commodities, indices | Regulated in South Africa and Saint Lucia |
| Multiple platforms | MT4 PRO Trader apps for mobile etc. | Overseen by regulated entities |
| Segregated client funds | Client funds are kept in segregated accounts in AA-rated global banks | Under FSCA and Saint Lucia regulation |
 | Minimum Deposit: $50 Regulated by: FSCA, FSA, CIMA, ASIC Crypto: Yes |
Frequently Asked Questions
Is Moneta Markets authorised by Uganda’s regulators?
No, Moneta Markets is not authorised by Uganda’s financial authorities. It is regulated by overseas bodies, mainly the FSCA in South Africa, and by Saint Lucia’s registration. Ugandan traders, therefore, depend on protection from those foreign regulators rather than local Ugandan oversight.
Does Moneta Markets accept clients from Uganda?
Yes, Moneta Markets accepts clients from Uganda. Uganda is not on the list of excluded countries. Moneta offers trading in over 300 instruments via platforms such as MT4 and PRO Trader, under its regulated entities.
Our Insights
Moneta Markets is a legitimate, regulated broker under several foreign jurisdictions and does welcome traders from Uganda. While it lacks local Ugandan licensing, its regulatory oversight from FSCA and Saint Lucia provides considerable protection if clients understand which entity they are trading under.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
10 Best Forex Brokers in Uganda – Head to Head
| Accepts local mobile money deposits Educational resources accessible in Africa | |  |
| MT4 and MT5 widely used by African traders Top-tier regulation | | |
| Accepts e-wallets commonly used in Africa Flexible trading conditions | | |
 | UGX-friendly deposit options via e-wallets Low entry barriers attract beginners | | |
 | Ultra-low spreads appeal to Forex traders Popular among algorithmic traders | | |
 | Supports regional deposit methods Educational content accessible to Africans | | |
 | Accepts international e wallet payments Simple account setup process | | |
 | User-friendly for new traders in Africa Accepts deposits via global e-wallets | | |
 | Accepts deposits via global e-wallets Wide range of CFDs | | |
 | Flexible account options for locals Promotions attract new traders | | |
Forex Trading in Uganda – A Quick Overview
Forex trading in Uganda is growing in popularity, driven by access to global markets and the ability to trade major currency pairs online. Traders use international brokers, as Uganda does not have extensive local brokerage options.
It offers profit opportunities but requires knowledge, risk management, and understanding of leverage and fees.
Pros and Cons of Forex Trading in Uganda
| ✓ Pros | ✕ Cons |
| Access to global markets | High leverage increases risk |
| Low entry costs | Limited local regulation |
| Flexible trading hours | Currency conversion fees |
| Variety of trading instruments | Risk of scams with unregulated brokers |
| Potential for profit | Requires strong knowledge and discipline |
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In Conclusion
Forex trading in Uganda provides potential for income and portfolio diversification, but traders must be cautious of unregulated platforms and high leverage risks. Success depends on education, disciplined trading, and using internationally regulated brokers for safety.
Faq
Yes, Forex trading is legal in Uganda. Traders can participate through online international brokers, although Uganda does not have a dedicated local regulator for Forex. It is recommended to choose brokers licensed by reputable authorities like FCA, ASIC, or CySEC for security.
To start Forex trading in Uganda, you need a device with internet access, a trading account with a regulated broker, and an initial deposit. Some brokers accept mobile money like MTN and Airtel, making it easier for local traders to fund accounts.
The minimum deposit depends on the broker. Many international brokers allow Ugandan traders to start with as little as $5 to $100. However, higher deposits may provide better trading conditions, such as tighter spreads and lower fees.
Forex traders in Uganda commonly use mobile money services (MTN Mobile Money, Airtel Money), bank transfers, debit/credit cards, and e-wallets like Skrill and Neteller. Mobile money is especially popular for its speed and convenience.
Yes, beginners in Uganda can trade Forex, but it is highly recommended to start with a demo account before using real money. Many brokers also provide free educational resources, webinars, and copy-trading options to help new traders learn safely.
