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(Updated September 2025)
Low-spread brokers are essential for traders who want to reduce their trading costs. Whether you’re scalping, day trading, or just executing high-volume trades, brokers with tight spreads can significantly improve your profitability.
While low-spread brokers can reduce trading costs, they often rely on alternative revenue sources, such as commissions, to offset their tighter pricing and may not suit every trading strategy. In this guide, we explain how these brokers operate, explore the pros and cons of low-spread accounts, and compare the best options available to Ugandan traders based on average spreads, commission structures, trading platforms, and regulation.
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For over a decade, we’ve set the standard in forex broker reviews—collecting thousands of data points yearly to deliver unbiased, expert-backed insights.
Skip the trial and error! Below, you’ll find the best forex brokers for Ugandan traders for 2025—thoroughly tested, verified, and ranked, so you can trade with confidence.
Although the Ugandan Financial Intelligence Authority (FIA) does not regulate Forex brokers, traders should exercise caution and only trade with brokers regulated by top-tier global authorities such as ASIC, the FCA, and CySEC. These are some of the world’s strictest Forex trading regulators, ensuring a secure and transparent trading environment. Choosing a well-regulated broker offers key protections:
Tip: Always check if a broker is regulated by at least one top-tier regulator before opening an account.
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Broker | Visit Broker Website | Account Name | Trading Cost Raw Spread Account: Total trading cost at the time of last update, for 1 lot of EUR/USD. Includes spread and commission. | Min. Deposit The minimum deposit required to trade using the selected account | Trading Commission | Compare | ||
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cTrader Razor | USD 7 | USD 0 | 6 USD / lot | 0.10 pips | ||||
Zero | USD 7 | USD 0 | 6 USD / lot | 0.10 pips | ||||
Pro Raw Spread MT4 | USD 7 | USD 200 | 7 USD / lot | 0 pips | ||||
RAW - MetaTrader | USD 7.20 | USD 200 | 7 USD / lot | 0.02 pips | ||||
Raw | USD 7 | USD 100 | 6 USD/lot | 0.10 pips | ||||
XM Ultra Low | USD 1 | USD 5 | Spread Only | 0.10 pips | ||||
MT4 Pro Account | USD 7 | USD 5 | 7 USD / lot | 0.00 pips | ||||
Zero | USD 4.50 | AUD 0 | 4.5 USD/lot | 0 pips | ||||
FxPro cTrader | USD 11 | USD 100 | 7 USD/ lot | 0.40 pips | ||||
USD 7 | 0 | 0.70 pips |
Find Your Ideal Forex Broker
0 pips
CMA, BaFin, SCB, DFSA, ASIC, FCA, CySEC
USD 0
Pepperstone Platform, TradingView, cTrader, MT5, MT4
30:1
True no-dealing-desk model with average spreads from 0.0 pips and no requotes—ideal for scalpers in Uganda.
Fully regulated in the UK, Australia, and Kenya, it offers local trust and fund protection to Ugandan traders.
Start trading without upfront funding, ideal for cost-conscious traders or those transitioning from demo to live accounts.
Supports MT4, MT5, cTrader, TradingView, and an in-house platform—including advanced automation and charting tools.
Dedicated East African support via email and call-back—increasingly rare among global brokers.
While strong on Forex, it's weaker in individual stocks compared to multi-asset brokers.
Commission changes depending on your trading platform and base currency
Pepperstone | Best For: Ugandan scalpers and EA users seeking institutional-grade spreads with global regulatory protection
FxScouts
0.0 pips
CMA, FSA-Seychelles, FSC, DFSA, FSCA, FCA
USD 0
HFM Trading App, MT5, MT4
2000:1
HFM | Best For: Beginner and budget-conscious Ugandan traders seeking high leverage with local-friendly support
FxScouts
0.1 pips
JSC, CMA, FSA-Seychelles, FSC, B.V.I FSC, FSCA
USD 3
Exness Terminal, MT5, MT4
Unlimited:1
Offers up to 1:unlimited leverage for qualified accounts – ideal for strategy testers and high-frequency traders.
Accepts Bitcoin and Tether, making it practical for Uganda’s rising crypto adoption.
Raw spreads start from 0.0 pips with a $3.5 commission—top-tier pricing for the region.
Automated, round-the-clock deposit and withdrawal systems via multiple methods.
Highly rated Exness mobile app with integrated account management, charts, and AI risk alerts.
Some order types may face conflict of interest concerns under B-book execution.
Unlimited leverage comes with volume-based restrictions and resets that may confuse new users.
Exness | Best For: Ugandan traders prioritizing unlimited leverage and crypto deposit options
FxScouts
0.1 pips
CMA, FSA-Seychelles, SCB, CySEC
USD 200
TradingView, cTrader, MT5, MT4
30:1
IC Markets | Best For: Experienced Ugandan traders seeking true ECN access and global liquidity
FxScouts
0.0 pips
FSA-Seychelles, DFSA, FSCA, FCA, CySEC
USD 100
TradingView, MT5, MT4
30:1
Tickmill | Best For: Professional Ugandan traders seeking cost-efficiency with strong regulation and fast withdrawals
FxScouts
The spread is the difference between a broker’s buy and sell prices, and it’s a key cost of Forex trading. This guide explains how spreads work, why low spreads matter, and how brokers still profit when offering tight or zero spreads.
The spread is the difference between the broker’s buy and sell prices when trading a Forex pair.
In other words, the spread is the difference between the bid price (the price at which you can sell) and the ask price (the price at which you can buy). Brokers charge spreads as a fee for enabling the trades. In a typical trading environment, spreads vary depending on market conditions, the liquidity of the currency pair, and the broker’s pricing model. While major currency pairs, such as EUR/USD or USD/JPY, tend to have tighter spreads due to high liquidity, exotic pairs like USD/ZAR usually have wider spreads.
Understanding the spread is one of the first and most important concepts in Forex trading. The tighter the spread, the less price movement is required for a trade to become profitable.
Most Forex brokers generate revenue either through spreads or commissions. A broker that offers low or zero spreads typically compensates for this by charging a fixed commission on each trade. These commissions are usually calculated per traded lot and can range from US$3 to US$7 per round turn (opening and closing a position).
For example, a broker might offer a 0.0 pip spread on EUR/USD but charge a commission of 6 USD per lot traded. This pricing model is commonly used by ECN (Electronic Communication Network) or STP (Straight Through Processing) brokers, who pass client trades directly to liquidity providers without intervention. The commission can be seen as a fee for the broker’s service of facilitating the trade. For a broker offering low or even zero spreads, the commission may be their primary source of income.
The commission-based model offers more transparent pricing, especially for Ugandan traders comparing different brokers side by side. But it also means that the total trading cost is not always obvious at first glance, particularly for newer traders.
Each broker has a different cost structure, but low-spread Forex brokers typically share some common characteristics. Let’s look at the benefits and drawbacks.
Ultimately, whether a low-spread account is the right choice depends on your trading frequency and style. Scalpers and day traders usually benefit the most, while swing traders may find a commission-free account with wider spreads to be more cost-effective.
Fixed spread brokers offer spreads that do not change, no matter the market conditions, whereas variable spreads could be lower, but fluctuate throughout the trading day.
In Forex trading, the difference between fixed spreads and variable spreads is important when deciding which broker to trade with. Here’s a breakdown of the main differences:
Fixed Spreads:
Variable Spreads:
The choice between fixed and variable spreads depends on a trader’s strategy, trading style, and risk tolerance. Fixed spreads offer predictability and simplicity, which can be beneficial for beginners or those with straightforward strategies. Variable spreads, on the other hand, can offer lower costs under normal market conditions and are preferred by traders who can manage the risks associated with market volatility.
Find answers to common questions about low-spread Forex brokers, including what is considered a low spread, why they matter, and the differences between raw spread and standard accounts.
In Forex trading, a spread is considered low if it’s close to 0.0 pips. However, what constitutes a ‘low’ spread can depend on the currency pair being traded. For major currency pairs like EUR/USD, a low spread is typically anything under 1 pip. For less liquid currency pairs, such as minors or exotics like the USD/ZAR, spreads are usually considerably wider.
Commission rates can vary widely among Forex brokers, but a low commission is typically considered to be around 0.1% – 0.3% of the trade volume. In terms of fixed commissions, which are more common in ECN or STP brokers, anything around $6 – $10 per lot traded (100,000 units of currency) could be considered low.
A zero-spread account is a type of trading account in which the spread between the bid and ask prices is set to zero, at least for certain currency pairs, under specific market conditions. In a standard trading account, the spread can fluctuate depending on market volatility, liquidity, and the broker’s pricing model. Most brokers make money from these spreads. But with a zero-spread account, brokers usually charge a fixed commission per trade instead.
Yes, some brokers offer zero-spread accounts. Zero-spread forex brokers offer trading accounts where a currency pair’s bid and ask price are the same. This means there is no difference between the bid price and the ask price of a currency pair. However, it’s essential to note that while the spread is zero, these brokers often compensate by charging a commission on trades or using other fee structures. Therefore, traders must understand the overall cost of trading, not just the spread, before choosing a broker.
While low-spread accounts can save costs for high-volume traders, they might not be as beneficial for less active traders. This is because the commission costs could outweigh the benefits of low spreads for traders who don’t trade frequently.
The broker with the tightest spread is not constant, as spreads fluctuate based on market conditions and the broker’s policies. However, brokers that consistently offer tight spreads often operate using an Electronic Communication Network (ECN) or Straight Through Processing (STP) model.
A standard account typically includes all trading costs within the spread. This means you won’t pay a separate commission on your trades. On the other hand, a raw spread account usually offers spreads close to zero, with brokers charging a separate commission on each trade. The choice between the two often depends on the trader’s strategy and volume of trades.
The most heavily traded pairs, such as the EUR/USD, GBP/USD and USD/JPY, normally have the lowest spreads, while an emerging-market currency paired with the USD, such as the USD/ZAR, will have a wider spread. In other words, the more liquid the market, the narrower the spread. That’s because the high volumes traded generate substantial profits for brokers, even though the profit margins may be narrow.
Explore more resources that fellow traders find helpful! Check out these other guides to enhance your forex trading knowledge and skills. Whether you’re searching for the best brokers, educational material, or something more specific, we’ve got you covered.
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