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FxScouts review services independently to help you make informed decisions.

Edited by July 17, 2025

Author

Edited by

Alison Heyerdahl

Head of Content

Learn more about Alison Heyerdahl

Author

Chris Cammack

Partner Manager and Financial Writer

Chris manages the relationships with our partners to provide the best Forex trading experience possible for our users. Chris has 15+ years of research, and editorial and design experience for political and financial publications. His background has given him a deep understanding of international financial markets and the geopolitics that affect them.

Learn more about Chris Cammack

Best MT5 Forex Brokers in Uganda for 2025

Edited by July 17, 2025

Author

Edited by

Alison Heyerdahl

Head of Content

Learn more about Alison Heyerdahl

Author

Chris Cammack

Partner Manager and Financial Writer

Chris manages the relationships with our partners to provide the best Forex trading experience possible for our users. Chris has 15+ years of research, and editorial and design experience for political and financial publications. His background has given him a deep understanding of international financial markets and the geopolitics that affect them.

Learn more about Chris Cammack

MetaTrader 5 (MT5) is the most recent version of the MetaTrader Forex trading platform and the first to have native multi-asset functionality for stocks, futures, and crypto. Traders will also be looking to use the expanded set of indicators and run improved MQL5 scripts to enable automated trading. The previous version of MetaTrader (MT4) is being gradually phased out, so it’s a good time to try out this new, more advanced trading platform.

Many traders are drawn to MT5 because of the wide range of CFDs to trade, but to find the best MT5 brokers, we also compared trading costs, execution speed and the number of Forex pairs available. For many beginners, MT5 will be their first trading platform, so we also tested the quality of the brokers’ technical customer support and the quality of their education. Last but not least, we made sure that all brokers on this list were fully regulated to ensure trader safety.

Trusted. Transparent. Tested.

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.

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Best For: Advanced traders and algorithmic trading in Uganda

Best For: Beginner Forex traders and small-budget traders in Uganda

Best For: Social traders and copy-trading enthusiasts in Uganda

Best For: High-leverage, automated and crypto-friendly traders in Uganda

Best For: Balanced traders who want all-round features with good education

Best MT5 Forex Brokers in Uganda for 2025

You can either use the arrow button or swipe on mobile

Broker	Overall Rating	Official Site	Min. Deposit	Max. Leverage	Regulated By	Total CFDs	Currency Pairs	Website Language: English	Support Language: English	Compare
	4.61 / 5 Read Review	Visit Broker 75.3% of retail CFD accounts lose money	USD 0	30:1		1597	90	Yes	Yes
	4.45 / 5 Read Review	Visit Broker 75.18% of retail CFD accounts lose money	USD 5	30:1		1554	57	Yes	Yes
	4.14 / 5 Read Review	Visit Broker 77.41% of retail CFD accounts lose money	USD 10	1000:1		2193	49	Yes	Yes
	4.32 / 5 Read Review	Visit Broker 71.67% of retail CFD accounts lose money	USD 3	0:1		221	100	Yes	Yes
	4.43 / 5 Read Review	Visit Broker 72.90% of retail CFD accounts lose money	USD 0	2000:1		1230	53	Yes	Yes
	4.59 / 5 Read Review	Visit Broker 76% of retail CFD accounts lose money	USD 100	30:1		930	63	Yes	Yes
	4.39 / 5 Read Review	Visit Broker 75% of retail CFD accounts lose money	USD 100	30:1		2241	70	Yes	Yes
	4.33 / 5 Read Review	Visit Broker 69.21% of retail CFD accounts lose money	USD 5	3000:1		573	72	Yes	Yes
	4.46 / 5 Read Review	Visit Broker 70.81% of retail CFD accounts lose money	USD 200	30:1		1744	64	Yes	Yes
	4.60 / 5 Read Review	Visit Broker 79% of retail CFD accounts lose money	AUD 100	30:1		10162	70	Yes	Yes

4.6

Min. Deposit

USD 0

Max. Leverage

30:1

Regulated By

Total CFDs

1597

Currency Pairs

90

Website Language: English

Yes

Support Language: English

Yes

4.5

Min. Deposit

USD 5

Max. Leverage

30:1

Regulated By

Total CFDs

1554

Currency Pairs

57

Website Language: English

Yes

Support Language: English

Yes

4.1

Min. Deposit

USD 10

Max. Leverage

1000:1

Regulated By

Total CFDs

2193

Currency Pairs

49

Website Language: English

Yes

Support Language: English

Yes

4.3

Min. Deposit

USD 3

Max. Leverage

0:1

Regulated By

Total CFDs

221

Currency Pairs

100

Website Language: English

Yes

Support Language: English

Yes

4.4

Min. Deposit

USD 0

Max. Leverage

2000:1

Regulated By

Total CFDs

1230

Currency Pairs

53

Website Language: English

Yes

Support Language: English

Yes

4.6

Min. Deposit

USD 100

Max. Leverage

30:1

Regulated By

Total CFDs

930

Currency Pairs

63

Website Language: English

Yes

Support Language: English

Yes

4.4

Min. Deposit

USD 100

Max. Leverage

30:1

Regulated By

Total CFDs

2241

Currency Pairs

70

Website Language: English

Yes

Support Language: English

Yes

4.3

Min. Deposit

USD 5

Max. Leverage

3000:1

Regulated By

Total CFDs

573

Currency Pairs

72

Website Language: English

Yes

Support Language: English

Yes

4.5

Min. Deposit

USD 200

Max. Leverage

30:1

Regulated By

Total CFDs

1744

Currency Pairs

64

Website Language: English

Yes

Support Language: English

Yes

4.6

Min. Deposit

AUD 100

Max. Leverage

30:1

Regulated By

Total CFDs

10162

Currency Pairs

70

Website Language: English

Yes

Support Language: English

Yes

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How Brokers Are Scored

FxScouts’ Broker Score and Trust Rating constantly evolve to reflect the forex market’s dynamics. We ensure transparency by incorporating regulator data and user insights. Our in-depth reviews consider over 200 metrics across seven key categories. The radar chart to the left shows how important each category is when calculating a broker’s final score.

Trust Rating: Assessment of broker reliability and reputation
Trading Costs: Spreads and fees for clear comparisons
Platforms: User-friendliness and features
Asset Selection: Forex, stocks, and other available instruments
Deposit and Withdrawal: Simple and free deposits & withdrawals
Education: Support for beginners and developing traders
Customer Support: Accessibility, responsiveness, and expertise

Learn how we set the standard for broker reviews. Explore our in-depth review process here.

Pepperstone

Best For: Advanced traders and algorithmic trading in Uganda

Pepperstone

4.61

FxScouts Review

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75.3% of retail CFD accounts lose money

Min. Spread

0 pips

Regulation

CMA, BaFin, SCB, DFSA, ASIC, FCA, CySEC

Min. Deposit

USD 0

Platforms

Pepperstone Platform, TradingView, cTrader, MT5, MT4

Max Leverage

30:1

Why Pepperstone Stands Out

FCA-Grade Security

UK FCA and ASIC regulation with added regional presence in Kenya, offering localised trust
Zero Minimum Deposit

Start trading MT5 with no entry cost—ideal for budget-conscious traders
Low-Latency Execution

Pepperstone connects directly to Equinix data centers for sub-30ms execution speeds
MT5 with Depth of Market

MT5 integration supports Level II pricing and 21 timeframes—perfect for intraday strategies
Smart Trader Tools

Exclusive MT5 add-ons include sentiment indicators and correlation matrix—not widely available elsewhere

Why Pepperstone Falls Short

No Local Mobile Money

No support for MTN/Airtel Money for deposits/withdrawals in Uganda

Pepperstone | Best For: Advanced traders and algorithmic trading in Uganda

Final Verdict: Is Pepperstone right for you?

Trade if:

You're an algo or EA trader wanting raw spreads & deep liquidity
You need a broker with top-tier global regulation and execution

Consider Alternatives:

If you prioritize local deposit methods like mobile money

Visit Broker

Broker Trading Image

Broker Trading Image

Accepts Ugandan Clients. Average spread EUR/USD 1.00 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5, cTrader and TradingView platforms supported. Pepperstone Group is regulated by the FCA, ASIC, SCB, DFSA and CMA.

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Pepperstone

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XM

Best For: Beginner Forex traders and small-budget traders in Uganda

4.45

FxScouts Review

Visit Broker

75.18% of retail CFD accounts lose money

Min. Spread

0.6 pips

Regulation

DFSA, FSC, ASIC, CySEC

Min. Deposit

USD 5

Platforms

MT5, MT4

Max Leverage

30:1

Why XM Stands Out

Micro & Ultra-Low Accounts
Start with just $5 and trade micro-lots—ideal for learners managing risk
MT5 Education Integration
MT5 webinars & tutorials are built into the platform interface via the client area
Bonus Programs
Up to $30 no-deposit bonus (varies by region) – good trial option before funding
All-in-One Account Access
Switch between MT4 and MT5 seamlessly without creating new accounts

Why XM Falls Short

Execution Delays During News
Reports of mild slippage and requotes on major releases
MT5 Add-ons Limited
Few proprietary tools or plugins compared to top-tier competitors

XM | Best For: Beginner Forex traders and small-budget traders in Uganda

Final Verdict: Is XM right for you?

Trade if:

You are new to Forex and want a micro account to practice
You want simple access to MT5 with a low deposit threshold

Consider Alternatives:

If you're a scalper or high-speed trader
If you require deep liquidity and raw spreads

Visit Broker

Broker Trading Image

Broker Trading Image

Broker Trading Image

Accepts Ugandan Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.

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NAGA

Best For: Social traders and copy-trading enthusiasts in Uganda

NAGA

4.14

FxScouts Review

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77.41% of retail CFD accounts lose money

Min. Spread

0.7 pips

Regulation

FRSA, FSA-Seychelles, CySEC

Min. Deposit

USD 10

Platforms

NAGA Web App, MT5, MT4

Max Leverage

1000:1

Why NAGA Stands Out

MT5 Social Integration
Direct copy-trading inside MT5 without third-party plugins
Proprietary Social Feed
Integrated timeline of trades and trader stats similar to social media UX
Top Trader Rewards
Earn commissions by being copied—monetise your own trades
German Fintech Backing
Listed on the Frankfurt Stock Exchange, offering transparency and investor-grade stability

Why NAGA Falls Short

High Minimum Deposit
Starts at $250—significantly higher than Exness or XM
Not Ideal for Manual Day Traders
MT5 execution speeds are not optimised for scalping

NAGA | Best For: Social traders and copy-trading enthusiasts in Uganda

Final Verdict: Is NAGA right for you?

Trade if:

You want to earn passive income as a strategy provider through copy-trading
You value a hybrid social-media-like trading experience

Consider Alternatives:

If you're looking to start with less than $100
If you’re a manual scalper or news trader

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Does NOT accept Ugandan Clients. Average spread EUR/USD 1.70 pips on trading account with lowest minimum deposit of 10 USD. Max leverage 1000:1. Islamic account available. MT4/MT5 platform supported. NAGA is regulated by CySEC, BaFin, and SVG FSA.

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NAGA

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Exness

Best For: High-leverage, automated and crypto-friendly traders in Uganda

Exness

4.32

FxScouts Review

Visit Broker

71.67% of retail CFD accounts lose money

Min. Spread

0.1 pips

Regulation

JSC, CMA, FSA-Seychelles, FSC, B.V.I FSC, FSCA

Min. Deposit

USD 3

Platforms

Exness Terminal, MT5, MT4

Max Leverage

Unlimited:1

Why Exness Stands Out

Unlimited Leverage
After verification and volume thresholds, leverage up to 1:Unlimited
Flexible Crypto Payments
Supports Bitcoin, Tether, and more – rare for MT5 brokers in Uganda
MT5-Centric Tools
Tick history, VPS hosting, and economic calendar integrated with MT5 terminal
Extremely Low Minimum
Begin live trading with just $3—lower than most in the market

Why Exness Falls Short

No FCA or ASIC License
Seychelles-based regulation may concern risk-averse investors
Customer Service Inconsistencies
Mixed reviews on live chat speed and support effectiveness

Exness | Best For: High-leverage, automated and crypto-friendly traders in Uganda

Final Verdict: Is Exness right for you?

Trade if:

You want ultra-high leverage and very small capital entry
You prefer crypto-based deposits or withdrawals

Consider Alternatives:

If regulatory protection is your top priority
If you require fast customer service for complex queries

Visit Broker

Broker Trading Image

Broker Trading Image

Broker Trading Image

Accepts Ugandan Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage Unlimited:1. Islamic account available. MT4, MT5, Exness web trader platforms supported. Exness is regulated by CySEC, FCA, and the FSC.

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Exness

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HFM

Best For: Balanced traders who want all-round features with good education

HFM

4.43

FxScouts Review

Visit Broker

72.90% of retail CFD accounts lose money

Min. Spread

0.0 pips

Regulation

CMA, FSA-Seychelles, FSC, DFSA, FSCA, FCA

Min. Deposit

USD 0

Platforms

HFM Trading App, MT5, MT4

Max Leverage

2000:1

Why HFM Stands Out

MT5 with Premium Analytics
HFM App includes real-time signals and Trading Central plugins on MT5
Zero Minimum Deposit
Open live accounts without a funding requirement—flexible for all budgets
FSCA and CMA Regulated
Additional African regulation (South Africa and Kenya) boosts regional trust
MT5 Web Terminal Access
Trade MT5 on a mobile browser without installing any software

Why HFM Falls Short

Spread Can Vary Widely
Especially during volatile sessions; not always as tight as competitors
Bonus Terms Can Be Complex
Promotions and bonuses come with strict volume requirements

HFM | Best For: Balanced traders who want all-round features with good education

Final Verdict: Is HFM right for you?

Trade if:

You want regulated exposure with good education and analysis tools
You need a broker with no deposit barrier

Consider Alternatives:

If you’re a scalper seeking ultra-tight spreads
If you dislike promotional conditions or bonus restrictions

Visit Broker

Broker Trading Image

Broker Trading Image

Broker Trading Image

Accepts Ugandan Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 2000:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.

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HFM

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"MT5 has grown in popularity recently in response to higher demand for multi-asset trading and is now supported by a number of the better brokers."

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Frequently Asked Questions

Answers to common questions about the MT5 platform.

Is MT5 a Broker or a Platform?

MT5 isnota broker — it is atrading platform. Think of it as a tool or software traders use to access financial markets via a broker. A Forex broker integrates MT5 into its infrastructure, allowing clients to place trades, run Expert Advisors (EAs), conduct technical analysis, and manage portfolios from a single interface.

In Uganda, well-regulated brokers like Exness, Pepperstone, or XM offer the MT5 platform to local clients. These brokers handle account management, deposits, withdrawals, and trade execution, while MT5 provides the interface and functionality for trading.

What is the Difference Between MetaTrader 4 (MT4) and MetaTrader 5 (MT5)?

The primary difference between MT4 and MT5 lies in their architecture, functionality, and supported asset types. Here’s a breakdown:

Feature	MT4	MT5
Asset Classes	Forex only	Forex, CFDs, Stocks, Futures
Timeframes	9	21
Strategy Tester	Single-threaded	Multi-threaded & Real Ticks
Economic Calendar	No	Yes
Depth of Market	No	Yes
Pending Orders	4 types	6 types
Programming Language	MQL4	MQL5

Due to its simplicity, MT4 remains popular with Ugandan traders for Forex-only strategies. However, MT5 is increasingly preferred by advanced traders looking to diversify assets or use enhanced analytical tools.

Is MetaTrader 5 (MT5) Good for Forex Trading in Uganda?

Yes — MetaTrader 5 (MT5) is an excellent choice for Forex trading in Uganda, offering a powerful mix of advanced trading tools, fast execution, and support for automated strategies. Many internationally regulated brokers offer MT5 accounts to Ugandan clients, making it accessible for both beginners and experienced traders who want a modern, feature-rich platform.

Ugandan traders benefit from MT5’s:

Integrated Economic Calendar, which helps traders monitor global macroeconomic events that may impact currency prices — a key advantage for staying ahead of the markets.
38 built-in technical indicators and 44 analytical tools, enabling detailed chart analysis and informed decision-making.
Multi-threaded Strategy Tester, ideal for backtesting Expert Advisors (EAs) and improving algorithmic trading performance.
Advanced order types such as stop limit and fill-or-kill, useful for managing trades with greater precision.
Hedging capabilities, allowing traders to open multiple positions in the same instrument — especially helpful during volatile market conditions.

Look for brokers that offer:

Tight spreads and low trading costs, giving you better value per trade.
Support for UGX-friendly deposit and withdrawal methods, such as mobile money services (e.g., MTN Mobile Money, Airtel Money) as well as international options like Visa/Mastercard and bank wire transfers.
Fast withdrawal processing with no hidden fees.
Responsive customer support, preferably with knowledge of the African market.

Do You Have to Pay for MT5?

No, MetaTrader 5 is free for individual retail traders. The MT5 desktop, mobile, and web platforms can be downloaded at no cost. However, to trade live markets, you need to open an account with a broker that offers MT5. The cost structure depends on your broker, not on MT5 itself.

Brokers may charge:

Spreads (the difference between bid and ask prices)
Commissions (especially for ECN/STP accounts)
Swap or overnight fees
Inactivity or withdrawal fees

Some brokers offer commission-free MT5 accounts with slightly wider spreads, while others offer raw spread accounts with fixed commissions.

Does MetaTrader 5 Support Automated Trading and Expert Advisors (EAs)?

Yes — MT5 fully supports automated trading using built-in or custom Expert Advisors (EAs). In fact, MT5’s algorithmic trading environment is more advanced than MT4:

EAs are coded in MQL5, a powerful object-oriented language that allows more complex strategies.
Multi-threaded strategy tester enables faster and more accurate backtesting using real tick data.
VPS (Virtual Private Server) hosting can be integrated to ensure 24/7 trading with no downtime.
Copy trading services are available via the MetaTrader marketplace or broker-provided social trading platforms.

This makes MT5 especially suitable for algo traders, scalpers, and those using machine-learning or rules-based systems in the Ugandan market.

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60-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.

Meet the Experts Behind Our Unbiased Reviews

Chris Cammack

Partner Manager and Financial Writer

Chris Cammack is partner manager and senior financial writer at FxScouts, specialising in broker relations and forex market analysis. As the former Head of Content (2019–2024), he set editorial standards for all content published at FxScouts, including broker reviews, broker comparison pages and education.

With over a decade of experience in editorial management and partner relations, Chris builds and maintains our relationships with our partners to provide the best Forex trading experience for our users.

He also co-hosts the “Let’s Talk Forex” podcast with Alison Heyerdahl, where he explores trading strategies, industry news, and macroeconomic trends to help traders navigate the markets with confidence.

Alison Heyerdahl

Head of Content

Alison joined the team as a writer in 2021. She is the Head of Content for FxScouts. She has a medical degree with a focus on physiotherapy and a bachelor's in psychology. However, her interest in Forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, "Let's Talk Forex", alongside Chris and has produced over 100 Forex educational videos for the FxScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 120 Forex brokers.

Ida Hermansen

Financial Writer

Ida is a financial writer with a degree in Digital Marketing and a strong background in content writing and SEO. Her expertise extends beyond marketing and writing, with a keen interest in cryptocurrencies and blockchain networks. Ida's passion for crypto trading sparked a deeper fascination with Forex technical analysis and price movement. She is continually expanding her knowledge in Forex trading, staying informed about the latest trends and identifying the best trading environments for new traders.

Stefan de Clerk

Financial Writer

The newest member of our team, Stefan has a degree in Marketing and more than a decade of experience writing quality content in both finance and tech. Stefan's deep fascination with how factors like geopolitical events, big data and market sentiment influence the financial markets drives his passion for Forex trading. He believes that if you want to feel the pulse of the world economy, trade Forex, and if you want to trade Forex, you need well-researched, unbiased and objective information.

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