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TOP 5 Binary Options Brokers in Uganda
Finding the right binary options broker in Uganda is a very difficult task. In this country, binary options are not regulated in any way, which means that any company that wants to provide binary options in this country can do so without any restrictions. This solution is not the best because there are many platforms on the market that are deceiving people. That is why we have compiled a list of the best platforms to provide their services in Uganda.
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As you can see, the choice is very large. Each of the listed brokers has a free demo account. If you are looking for a broker that is the most reliable and has the highest returns, choose IQ Option. If you care about mobile trading, Expert Option will be the best solution. If you are interested in functions such as copying traders and signals, choose Pocket Option. If you are a beginner and are looking for a low initial deposit, choose Binarium. If none of the above options is perfect for you, check out the Quotex broker.
IQ Option
IQ Option is one of the most recognizable binary options brokers on the market. The broker was founded in 2013 and quickly gained popularity thanks to its trading platform, which was the first to offer numerous indicators, professional analytical tools and an integrated economic calendar. Currently, over 100 million clients use the broker’s services. IQ Option is renowned for the highest returns in the industry and a high level of security. IQ Option is not only binary options but also CFDs on: Forex, Crypto, ETFs, stocks and digital options. IQ Option doesn’t offer bonuses, signals or copy traders. If you are looking for a trustworthy binary options broker with a modern platform and one of the highest returns in the industry, choose IQ Option.
- Minimum Deposit: $10
- Minimum Trade: $1
- Bonus: None
- Payouts: 98% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes, Android & iOS
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- Uganda Traders: Accepted
Expert Option
Expert Option is a broker that was established in 2014 and competed with IQ Option in the first years of operation. Over time, Expert Option focused more on the development of its mobile application and reaching customers from exotic countries. As a result, Expert Option is recognized as the best broker for mobile trading. The broker has a light and modern application that will work very well even on less efficient devices. The browser version is also very good. The returns are high but a little lower than IQ Option. If you are looking for a broker that will be perfect for mobile trading, choose Expert Option.
- Regulation: Yes, IFMRRC
- Minimum Deposit: $50
- Minimum Trade: $1
- Bonus: None
- Payouts: 90% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes, Android & iOS
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- Uganda Traders: Accepted
Pocket Option
Pocket Option is a platform that was established in 2017 and quickly gained popularity in Europe. All thanks to the innovative approach to trading and functionality of the platform. Pocket Option is the only broker to offer very high returns and features such as copy traders, trading signals, bonuses, cashbacks, achievements and much more. The broker is regulated by the IFMRRC, which means your funds are kept securely. If you are looking for a broker that offers a modern platform, credibility and great functionality, choose Pocket Option.
- Regulation: Yes, IFMRRC
- Minimum Deposit: $50
- Minimum Trade: $1
- Bonus: Up to 50%
- Payouts: 95% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes, Android & iOS
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- Uganda Traders: Accepted
If you open an account with this broker, you will receive a 50% deposit bonus!
Binarium
Binarium is the oldest broker on our list. The platform was established in 2012, but never gained such popularity as IQ Option or Expert Option. The broker for many years offered an outdated platform that did not stand out on the market. Recently, Binarium has undergone a facelift and has caught up with the competition. In our opinion, it is the best broker for beginners because it offers the lowest initial deposit (from $ 5) and a very extensive “Education” bet, in which you will find a lot of guides and 20 ready-made strategies. If you are looking for a broker with the lowest initial deposit, choose Binarium.
- Regulation: No
- Minimum Deposit: $5
- Minimum Trade: $1
- Bonus: Up to 100%
- Payouts: 95% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- Uganda Traders: Accepted
Quotex
Quotex is the newest broker on our list that is of Russian origin. The platform was created in 2020, and its main feature are trading signals that achieve up to 87% effectiveness. The broker offers a light and modern trading platform and support in many languages. Quotex also has a great mobile application, but unfortunately it is only available on Android devices. On its platform, the broker offers access to a large database of indicators, drawing tools, bonuses and risk free trades. Quotex is a very similar broker to Pocket Option but with no regulation and with less experience. Choose this broker if none of the above platforms will be sufficient for you.
- Regulation: No
- Minimum Deposit: $5
- Minimum Trade: $1
- Bonus: 100%
- Payouts: 90% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- Uganda Traders: Accepted
If you open an account with this broker, you will receive a 30% deposit bonus!
Best Binary Options Brokers in Uganda – Conclusion
As you can see, the choice of brokers is very wide. Each of the platforms listed here has been thoroughly checked by us, and on our website you can read a full review of each of them. If you want to open a demo account, all you need to do is go to the broker’s website and then open the account by entering your email address and password. Payment of the deposit and trading does not require account verification. Verification will be required only when you want to withdraw the deposit. To verify your account, all you need to do is confirm your identity and home address. To do this, send a photo of your ID card and confirmation of your address (e.g. a photo of an electricity bill). Every broker in the world requires verification as it is necessary to prevent money laundering.
UPDATE 2023
Are binary options legal in Uganda in 2023? The short answer is yes, they are. In recent years, the Ugandan government has taken steps to regulate the financial industry and provide a framework for trading activities like binary options.
In 2017, the Capital Markets Authority (CMA) of Uganda introduced regulations that allowed for the licensing and supervision of online forex brokers. This move was aimed at protecting investors and ensuring fair practices within the industry.
Since then, binary options have been included under these regulations, making them legal to trade in Uganda. Traders can now engage in binary options trading with confidence, knowing that their rights are protected by law.
This development has opened up new opportunities for Ugandans interested in exploring the world of financial markets through binary options. With proper research and understanding of market trends, traders can potentially make profits from predicting whether an asset’s price will rise or fall within a specific time frame.
It’s worth noting that although binary options are legal in Uganda, it is essential to choose a reputable broker who operates within the guidelines set by the CMA. This ensures transparency and safeguards against fraudulent activities.
If you’re interested in venturing into binary options trading in Uganda this year or beyond, rest assured that it is legal as long as you comply with regulatory requirements. Happy trading!