They compete in the Liga Nacional, the top tier of Guatemalan football, and play their home matches at the Estadio El Trébol.

Municipal were coached by Manuel Felipe Carrera, one of the original founders of the club, and whose name was later given to the stadium where the team currently practices.

During the 1940s and early 1950s, Municipal's most iconic player was the forward Carlos "Pepino" Toledo, who wore the red shirt throughout his career.

In 1948, Municipal won its first international honors at a friendly tournament held in Havana, Cuba to commemorate the Cuban Independence.

They managed to break that drought with three championships in the 1960s (1963–64, 1965–66, and 1969–70), but Comunicaciones remained Guatemala's dominant team, winning seven titles in 14 years from 1956–72.

He managed a group of players that included defender Alberto López Oliva, midfielders Benjamín Monterroso and José Emilio "Pepe" Mitrovich, and forward Julio César Anderson.

In 1974, the same year they were marching to a dominant repeat championship, they became the first Guatemalan club to win the CONCACAF Champions' Cup.

Misses by Julio César "Morocho" Anderson and Benjamín "Mincho" Monterroso allowed Independiente to prevail, 4-2, but Municipal had earned continental respect.

A former midfield star who had won two Argentine titles and played a stint in Spain, he came to Municipal with just one year of managerial experience.

Brindisi moved on to manage Barcelona SC in Ecuador, but successor Walter Ormeño kept the momentum by guiding the team to a third consecutive title.

In 2000, after the league's competition format was changed to two yearly tournaments on the Apertura and Clausura fashion, Municipal won the title again after Comunicaciones had set a record by winning the previous four; Municipal surpassed that record in 2006 when they won the 2006 Apertura tournament, their fifth consecutive title, under coach Enzo Trossero.

The team's version includes an image of the type of ball used at the time the club was founded, next to a blue and red striped canton in between the former two elements.

The Estadio Manuel Felipe Carrera, also known as "Estadio El Trébol", has been the training venue for the team, and it has been occasionally used for official matches by the club; Municipal had an undefeated streak of 33 official matches in this ground from July 9, 1991, until March 7, 2008, when they lost to Deportivo Petapa 1–0 for the 2008 Clausura tournament.

Municipal has set a record in Guatemalan football by being the club that has spent the most consecutive seasons in the maximum division, having remained there uninterruptedly since 1938.