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MetaTrader 4 (MT4) has remained the most widely used Forex trading platform for nearly 20 years. Fast, lightweight, and highly customisable, it delivers precise charting, robust automated trading via Expert Advisors (EAs), and reliable execution across market conditions.
Because almost every Forex broker offers MT4, choosing the right one can be challenging. The brokers featured on this page stand out for their tight spreads, strong regulation, high-quality execution, and overall MT4 performance. Our team has tested more than 180 brokers to highlight the best MT4 options for different trading styles, experience levels, and budgets.
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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Broker | Official Site | Regulated By | Website Language: English | Support Language: English | Compare | |||||
|---|---|---|---|---|---|---|---|---|---|---|
 | USD 0 | 30:1 |        | 1597 | 90 | Yes | Yes | |||
 | USD 100 | 30:1 |      | 930 | 63 | Yes | Yes | |||
 | USD 3 | Unlimited:1 |     | 221 | 100 | Yes | Yes | |||
 | USD 0 | 2000:1 | | 1230 | 53 | Yes | Yes | |||
 | USD 0 | 30:1 |    | 19295 | 80 | Yes | Yes | |||
 | USD 100 | 30:1 | | 2241 | 70 | Yes | Yes | |||
 | USD 5 | 3000:1 |  | 573 | 72 | Yes | Yes | |||
 | USD 5 | 30:1 | | 1554 | 57 | Yes | Yes | |||
 | USD 200 | 30:1 | | 1744 | 64 | Yes | Yes | |||
 | USD 10 | 1000:1 | | 2193 | 49 | Yes | Yes |
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Find Your Ideal Forex Broker
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0 pips
CMA, BaFin, SCB, DFSA, ASIC, FCA, CySEC
USD 0
Pepperstone Platform, TradingView, cTrader, MT5, MT4
30:1
Pepperstone offers razor-sharp spreads starting at 0.0 pips with commissions as low as $3.50 per lot, ideal for scalping.
Pepperstone uses Equinix servers, providing ultra-fast execution with minimal latency—perfect for EA and HFT strategies.
Pepperstone enhances MT4 with custom indicators, sentiment tools, and advanced trade management features.
Over 1,200 instruments across Forex, indices, commodities, and shares with localised support in Africa.
Lacks mobile money integration like MTN/Airtel Pay, which is widely used in Uganda.
Commission-based pricing on Raw accounts can confuse newer traders.
Pepperstone | Best For: Ugandan traders seeking tight spreads, fast execution, and support for algorithmic trading
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0.9 pips
ISA, FRSA, CBI, FSA-Japan, FSCA, ASIC, CySEC
USD 100
AvaOptions, Avatrade Social, MT5, MT4
30:1
Lets you control and monitor your MT4 trades via AvaTrade’s proprietary app—smoother UX for mobile users
Offers AvaProtect, a paid MT4 tool that reimburses losing trades for a time window—ideal for cautious traders
Presence in South Africa and other African nations helps offer support options closer to Ugandan traders
Licenses from FSCA (SA), ASIC, CySEC, and others—strong track record in Africa
Typical EUR/USD spreads start from 0.9 pips, less competitive for scalpers
Some users in Uganda report delays of up to 5 business days for withdrawals via local bank wire
AvaTrade | Best For: Ugandan beginners and copy traders looking for a risk-managed MT4 environment
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0.1 pips
JSC, CMA, FSA-Seychelles, FSC, B.V.I FSC, FSCA
USD 3
Exness Terminal, MT5, MT4
Unlimited:1
Exness offers unlimited leverage (conditions apply), ideal for traders with solid risk control
MT4 supports crypto and forex even during weekends, giving more flexibility
Start with just $3—perfect for Ugandan traders testing live MT4 strategies
Offers Swahili- and English-speaking support for East African users via chat & email
Unlimited leverage can be dangerous for beginners without risk management tools
No enhanced add-ons for MT4 like Smart Tools or plugins available from competitors
Exness | Best For: Ugandan day traders needing high leverage and weekend trading on MT4
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0.0 pips
CMA, FSA-Seychelles, FSC, DFSA, FSCA, FCA
USD 0
HFM Trading App, MT5, MT4
2000:1
MT4 accounts can be opened with no upfront deposit—ideal for new or cautious traders
HFM has FSCA (South Africa) licensing and runs educational seminars in Africa
Beginner-friendly MT4 video guides tailored for African traders
Supports Ugandan-friendly payment channels, including bank transfers and mobile money partners
Spreads on EUR/USD start from 1.0 pips—higher than ultra-low-spread brokers
Many MT4 account types can confuse new traders about the best fit
HFM | Best For: Ugandan beginners and part-time traders who need rich educational content and flexible funding
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0.6 pips
BMA, CFTC, FINMA, FMA, BaFin, MAS, DFSA, FSA-Japan, FSCA, ASIC, FCA
USD 0
TradingView, L2 Dealer, MT4
30:1
One of the few brokers with both UK and South African licenses—great for fund security
Over 17,000 markets, including FX, indices, commodities—much wider than other MT4 brokers
Smart routing technology for high-volume MT4 traders, no dealing desk intervention
Via SA office, allows faster bank withdrawals to major East African banks
Only offers MT4 and proprietary platforms—limits upgrades
Advanced MT4 tools and analytics require higher deposits or Pro account
IG | Best For: Ugandan professionals and institutional traders who want FCA oversight and premium execution on MT4
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MetaTrader 4 (MT4) is the world’s most popular Forex trading platform. Known for its speed, reliability, and flexibility, MT4 offers advanced charting, custom indicators, and full support for automated trading through Expert Advisors (EAs). It connects directly to your broker’s pricing and execution and is available on desktop, web, and mobile.
MetaTrader 4 is a trading interface you install on desktop, open in a browser, or run on mobile. Your broker operates the MT4 server behind the scenes, connecting the platform to live pricing and handling every order request. When you open or close a trade, MT4 simply transmits the instruction—your broker determines how it’s executed.
What this means in practice:
Released in 2005, MT4 remains the most widely used Forex trading platform thanks to a combination of speed, stability, and an unmatched ecosystem of trading tools.
Why Traders Continue Choosing MT4
For many traders, these strengths outweigh MT4’s dated interface and limited built-in features.
While MT4 remains the dominant Forex platform, MT5, cTrader, and TradingView provide more modern features. The right choice depends on your trading style and asset preferences.
MT4 is ideal for Forex-only traders or those who rely on long-tested MQL4 EAs. MT5 suits traders who want multi-asset access, more timeframes, more order types, and faster backtesting.
| Feature |
MT4 |
MT5 |
|---|---|---|
|
Best For |
Forex-only traders |
Multi-asset traders |
|
Programming |
MQL4 |
MQL5 (faster, more flexible) |
|
Timeframes |
9 |
21 |
|
Pending Orders |
4 |
6 |
|
Backtesting |
Local, single-thread |
Multi-thread + cloud |
|
Interface |
Dated |
More modern |
cTrader offers a modern interface, superior built-in charting, and ECN-style execution. MT4 remains the better choice for traders who rely heavily on custom indicators, EAs, and established workflows.
TradingView delivers industry-leading charting and a strong social community. MT4 excels at trade execution and automated trading. Many traders analyse on TradingView and execute trades on MT4 to combine the strengths of both platforms.
Most traders spend their time in MT4’s charting window, which is a key reason for its lasting popularity.
These tools allow traders to create a clean, efficient workspace suited to any strategy.
Setting up MetaTrader 4 is straightforward, and most brokers make the process beginner-friendly. A demo account is the safest way to learn the platform before trading real money.
Select a well-regulated broker offering tight spreads, fast execution, and strong oversight. Your broker—not MT4—determines your trading conditions.
A free MT4 demo account mirrors real market conditions and helps you practise placing trades, managing risk, and navigating the platform.
MT4 is available in three main formats:
Your broker will provide the correct download links and server settings.
MT4 accounts are created by your broker. Use the login details in the welcome email to connect your MT4 terminal.
Get familiar with:
Practise on demo first. When going live, start small and scale up as your confidence grows.
MT4 supports copy trading through its built-in Signals service and third-party integrations.
How copy trading works:
Copy trading is useful for learning from experienced traders, but results are not guaranteed. Always review a provider’s history and risk profile.
Expert Advisors allow MT4 to run automated strategies written in MQL4. EAs can analyse markets, open trades, and manage positions without manual input.
Key EA features:
Automated trading requires supervision. Poorly designed EAs can be risky, and markets can behave unpredictably. Always test EAs on a demo account first.
While MT4 is still the most widely used Forex trading platform, it has notable limitations:
The MT4 software is free, but trading on it involves several broker-controlled costs:
Your total trading cost depends far more on your broker than on the platform itself.
Since most brokers offer MT4, key differences come from regulation, pricing, and execution.
Choose brokers regulated by authorities such as FCA, ASIC, CySEC, or MAS. Strong regulation ensures client-fund protection and transparent operations.
Compare spreads, commissions, and swap rates—especially on the instruments you trade most.
Execution is entirely broker-dependent. Look for stable, low-slippage execution on ECN, STP, or DMA-style accounts.
Select between Standard, Raw/ECN, micro/cent, or Islamic accounts based on your strategy and deposit size.
Some brokers offer upgraded MT4 tools, such as custom indicators, trading utilities, or VPS services.
Ensure the broker supports the MT4 formats you need—desktop (essential for EAs), WebTrader, and mobile.
MT4 works across multiple devices, though each version offers different capabilities.
The desktop version remains the most powerful and flexible option.
Despite its age, MetaTrader 4 remains the leading platform for retail Forex traders thanks to its stability, fast execution, and strong technical analysis tools. Its huge ecosystem of EAs, indicators, and community resources continues to set it apart from newer platforms.
However, MT4 is only as effective as the broker you use. Regulation, spreads, execution quality, and support ultimately determine your trading conditions. With a well-regulated broker and disciplined risk management, MT4 remains a reliable and versatile choice for traders of all experience levels in 2025.
Find quick answers to the most common questions traders ask about the MT4 platform and its features.
No. MT4 is a trading platform. To trade live markets, you must open an account with a Forex/CFD broker that supports MT4 and log in using the credentials the broker provides.
Yes. MT4 is free to download and use for both demo and live accounts. Your trading costs come from the broker — spreads, commissions, and overnight financing.
MT4 uses encrypted, secure data transmission. Your safety ultimately depends on using a regulated broker that protects client funds and offers negative balance protection.
MT4 was built for Forex, but most brokers also offer CFDs on indices, commodities, metals, and sometimes cryptocurrencies. The available instruments depend on the broker.
MT4 focuses on Forex and uses MQL4, while MT5 is a multi-asset platform with more timeframes, more order types, and the more advanced MQL5 language. MT4 EAs do not work on MT5.
Yes. MT4 fully supports automated trading through Expert Advisors (EAs). You can download or purchase EAs or build your own using MQL4. Always test EAs on a demo account first.
Yes. MT4 is widely available on Android and via WebTrader. Mobile MT4 is ideal for monitoring and managing trades, while the desktop platform is better for analysis and automated trading.
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.
Discover the top Forex brokers in Uganda. Compare top platforms, fees and features to make an informed trading choice.
Compare the best Forex trading platforms for 2025, including MT4, MT5, cTrader, and TradingView. Find the right tools to enhance your trading experience.
What is Forex trading and how does it work? An easy-to-read guide including how to trade, and how to choose a reliable broker.
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.
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.
Head of Content
Financial Writer
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