Many traders in Uganda use mobile apps to trade. Many brokers operate in this country, each offering their own platform. Before making a choice, it is important to evaluate apps to find the one that perfectly suits your goals and strategy. TU analysts compared Top 5 mobile apps. You will be able to choose the Best Paper Trading App in Uganda for 2024, based on our assessments.
Revolut provides its clients access to shares of international and American companies, cryptocurrencies, and metals. For investors, Revolut offers a social trading program. Revolut's copy trading platform is trendy among investors because it has a forum for traders to communicate with each other in real-time. Also, various charts and indicators are available in the Revolut trading platform for technical analysis. Revolut is a company actively developing and plans to make all of its services available to foreign citizens. Fractional share trading offered by the broker allows beginners to learn trading without high financial risks.
Interactive Brokers is a reliable brokerage company that is popular with traders from all over the world. Interactive Brokers offers its clients an author's web terminal as a trading platform with a convenient and understandable interface - the "Client Portal." In addition, the company has an IBKR API available for developing custom software. Interactive Brokers also has investment programs. Currency pairs, metals, stocks, indices, and several other stock market instruments are available to clients as trading instruments. The company accepts clients from the USA. Interactive Brokers offer better conditions to professionals and are not focused on novice traders.
Robinhood markets is focused on working with traders from America but does not provide opportunities for active trading in currency pairs.
Brokerpoint trading conditions are satisfactory for both active traders and investors. The broker aims to cooperate with users who already have experience in trading stocks, futures, and other instruments.
ADMIS is a professional trading broker that offers futures and options trading on the major US and global exchanges.
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Best Paper Apps in Uganda - Revolut
Revolut is a British fintech company that has been providing investors with accounts for trading precious metals, cryptocurrencies, and stocks listed on U.S. exchanges since 2015. The broker offers its clients access to investing in stocks and ETFs on European stock exchanges. For organizations and private clients, the company offers a multi-currency account with the possibility of exchanging currencies at the current inter-bank exchange rate. Revolut is supervised by the Financial Services Authority (FSA).
👍 Advantages of trading with Revolut for traders in Uganda:
•In addition to stock trades, customers can trade cryptocurrencies and precious metals.
•The broker offers commission-free trading plans.
•The minimum number of shares to buy is 0.00000001.
•There are no minimum deposit requirements.
•Social trading is available, which allows newcomers to the stock market to copy trades of successful traders.
•Communication with the support service via chat is available in the mobile application 24 hours a day.
•There is no fee for opening and maintaining a trading account.
👎 Disadvantages of Revolut for traders in Uganda:
•Stock trading is currently only available to UK residents.
•Operations in precious metals and cryptocurrencies are not regulated by supervisory authorities.
•The company does not offer fiduciary management of its investment portfolio.
2
Best Paper Apps in Uganda - Interactive Brokers
Interactive Brokers is among the best-known US investment companies, operating since 1977. The broker offers to trade currency pairs, but its basic instruments are stocks, CFD, indices, metals, ETF, futures, and other exchange market assets. The company is regulated by the US Securities and Exchange Commission (SEC), the US Financial Industry Regulatory Authority (FINRA), the UK Financial Regulatory Authority (FCA, 208159), and other international financial regulation commissions. In 2020, the broker was awarded the "Best Online Broker” (Barron's) and "Best Broker for Economical Investments" (NerdWallet) titles and got five stars in the Online Stock Trading for Traders category (Canstar). Also, the broker is popular in other countries. Here you can read reviews of Interactive Brokers in Canada, Singapore, Australia, Hong Kong, Ireland.
👍 Advantages of trading with Interactive Brokers for traders in Uganda:
•wide range of training materials;
•access to 135 markets in 33 countries;
•a huge subset of trading instruments.
👎 Disadvantages of Interactive Brokers for traders in Uganda:
•website interface is only partially translated into other languages;
•you have to pay for an inactive account;
•Support service does not work on Saturday and Sunday;
•long and complex registration procedure;
•no cent accounts for novice traders.
3
Best Paper Apps in Uganda - Robinhood
Robinhood is an investment company that has provided services on the stock market for over ten years. Its owners engaged in software development for hedge funds ab initio and then teamed up to create a company that makes investing available to all. The broker is licensed to provide its services and is a member of the Financial Industry Regulatory Authority (FINRA, CRD#: 165998/SEC#: 8-69188) in the United States. There is no information about the broker receiving awards for their activities.
👍 Advantages of trading with Robinhood for traders in Uganda:
•trading stock market instruments without paying commissions;
•the ability to trade from mobile devices;
•hassle-free registration procedure.
👎 Disadvantages of Robinhood for traders in Uganda:
•the broker does not offer Forex instruments for trading;
•there are no offers for receiving passive income;
•training materials on the website are limited;
•the company works with clients exclusively from the US;
•lack of online support.
4
Best Paper Apps in Uganda - Brokerpoint
Brokerpoint is an international broker providing its services in more than 33 countries. The company is part of Interactive Brokers LLC and provides services under the German Banking Act. Brokerpoint is a member of the Securities Investor Protection Corporation (SIPC). Brokerpoint GmbH is regulated by the German BaFin (80176133). In 2020, the broker received “Best Futures Trading Broker” and “Best Customer Service Broker-Dealer” awards.
👍 Advantages of trading with Brokerpoint for traders in Uganda:
•Clients gain access to a variety of international markets and exchanges.
•The broker offers a wide range of trading assets.
•Traders have access to mutual funds to generate passive income.
•Multilingual support service: the broker’s staff provide assistance in 20 languages.
•Trading is available 24/7 both from a personal computer and mobile devices.
•Before starting trading, traders can open a demo account and check the broker’s trading conditions, their skills, and test different trading strategies.
👎 Disadvantages of Brokerpoint for traders in Uganda:
•There are few ways to deposit and withdraw funds.
•The broker does not provide training materials to clients.
•Traders are not credited with bonuses for trading, and there are no referral programs or contests either.
5
Best Paper Apps in Uganda - ADMIS
ADM Investor Services — ADMIS — is an American Futures Commission Merchant (FCM) broker that provides execution and clearing services for trading futures and options contracts. In 1966, the company became a member of the Chicago Chamber of Commerce. ADMIS in the United States is regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA 0000360). Five subsidiaries in Asia and Europe, as well as ADM Investor Services representative brokers, serve traders around the world.
👍 Advantages of trading with ADMIS for traders in Uganda:
•The excellent reputation of the company in the USA and globally.
•A wide range of futures contracts in various industries.
•Membership in all major American and international futures exchanges.
•The company is officially regulated by US government commissions.
•The presence of an extensive network of representative brokers and subsidiaries, that gives the possibility to cooperate with ADMIS not only for residents of the United States.
•Free provision of in-depth analytics and high-quality research of the futures markets.
•The company offers many trading platforms that support professional analysis tools.
👎 Disadvantages of ADMIS for traders in Uganda:
•Strict requirements regarding the minimal deposit.
•Additional non-trading commissions for the deposit and withdrawal of funds and the software provided.
•Absence of training, online chat, and demo accounts.
Best Paper Trading App in Uganda 2024: Education for Investors
When choosing the app, it is important to consider educational tools offered by brokers. TU analysts prepared a comparison of educational programs.
Revolut - Education for Investors
Investment Education Online
Revolut doesn't offer training programs on the basics of stock trading. But the company's site has a blog section, which contains articles and videos with investment tips from Revolut experts and a description of the nuances of stock trading.
The information presented in the Blog section can be useful not only for beginners but also for professional investors.
Interactive Brokers - Education for Investors
Investment Education Online
Information
Interactive Brokers provides clients with useful information to help novice traders to get Forex training and to help novices and professionals to improve their skills.
We highly recommend you use the IBKR trial version to test your knowledge in practice without financial risk.
Robinhood - Education for Investors
Investment Education Online
Robinhood Markets not only allows clients to invest but also explains the basics of investing.
The user won’t learn the ropes about the stock market without risks since there are no demo accounts in Robinhood.
Brokerpoint - Education for Investors
Investment Education Online
Brokerpoint provides traders and investors with information exclusively about the markets and exchanges available to them, as well as an overview of instruments and trading strategies. There is no training section per se.
Brokerpoint clients have access to a demo version of a trading account. Using a demo account, clients can check the broker’s trading conditions without financial risks.
ADMIS - Education for Investors
Investment Education Online
There is no training section on the ADM Investor Services website. The broker is focused on professional market participants, so it is keen on providing quality analytics and market data, rather than educating newbies. Novice investors may find useful the information presented in the Special Offers block of the Market Information section.
Demo accounts are not available to the company’s clients, but everyone has the opportunity to request a demonstration of trading terminals to get acquainted with their selected interface.
Summary
In this review, you had an opportunity to learn about the features of 5 brokers, which traders in Uganda choose the most. However, now you need to choose the best of them. You can do it using the scores given by the Traders Union. Check out the score table that will help you choose the Best Paper Trading App in Uganda 2024.
| Revolut | Interactive Brokers | Robinhood | Brokerpoint | ADMIS | |
|---|---|---|---|---|---|
|
Overall score |
9.5 |
9.1 |
8.2 |
6.5 |
5.5 |
|
Execution of orders |
9.2 |
8.8 |
7.9 |
6.29 |
5.29 |
|
Investment instruments |
9.8 |
9.4 |
8.5 |
6.71 |
5.71 |
|
Withdrawal speed |
9.6 |
9.2 |
8.3 |
6.35 |
5.35 |
|
Customer Support work |
9.4 |
9 |
8.1 |
6.65 |
5.65 |
|
Variety of instruments |
9.1 |
8.7 |
7.8 |
6.13 |
5.13 |
|
Trading platform |
9.9 |
9.5 |
8.6 |
6.87 |
5.87 |
|
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FAQ
Do all brokers offer mobile apps for iOS and Android?
Unfortunately no. Some companies focus only on one operating system. Before opening an account make sure that the broker offers the version for your operating system.
Is it possible to register with a broker using the mobile app?
Yes. Brokers provide an opportunity to open an account and pass verification directly in the mobile app.
Do I need to pay for downloading the app?
Brokers do not charge a fee for downloading their mobile app. They are provided for free.
Does the functionality of apps differ from that of the web version?
It depends on the broker. A good quality mobile app replicates the functionality of the web version either fully or as much as possible.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.