Ultima Markets Overall rating
Rating | Weight | |
User Rating |
4.0 (3 reviews)
|
3 |
Popularity |
3.5
|
3 |
Regulation |
5.0
|
2 |
Pricing rating |
4.4
|
1 |
Features |
Not rated
|
1 |
Customer Support |
Not rated
|
1 |
Pros
- Above average popularity rating of 3.5 out of 5
- Offers a wide range of instruments including ETFs, Bonds, and Futures
- Provides MT4 for Desktop, Mobile, and Web along with a mobile app
- Offers high leverage options up to 2000:1 for retail clients in Mauritius
Cons
- No user reviews available
- Not licensed as a bank
- Does not provide its financials publicly
We tested Ultima Markets using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. We offer additional visibility for a fee, but our review content cannot be influenced. Read our About Us page to read our editorial guidelines and how we make money.
Trustworthiness & Regulation
Ultima Markets, founded in 2016, operates under two regulatory bodies: the Mauritius Financial Services Commission (MU FSC) and the Cyprus Securities and Exchange Commission (CY CySEC).
Despite being relatively new in the market, it has gained a popularity rating of 3.5 out of 5, reflecting significant user engagement in terms of account openings, client activity, and web traffic.
While Ultima Markets ranks 166 out of 815 forex brokers based on user ratings, it holds a better position at 67 out of 815 based on our expert's rating.
The broker enjoys a substantial number of organic monthly visits (99,538), ranking 130 out of 815 for organic traffic. It is a privately owned company and does not provide its financials publicly. Although Ultima Markets is regulated, past events have shown that even highly regulated and successful financial firms can fail.
Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
---|---|---|---|---|---|---|
Ultima Markets Cyprus Ltd | up to €20,000 | 30 : 1 | ||||
Ultima Markets | 2000 : 1 |
Deposit Insurance
Ultima Markets offers deposit insurance and investor compensation programs under its regulatory frameworks. For clients under the Cyprus CySEC regulation, there is a deposit compensation scheme in place that compensates investors if the financial firm fails.
This ensures that client funds are protected up to a certain limit, adding an extra layer of security for traders. However, no such scheme is available under the Mauritius MU FSC regulation.
Despite this, client funds are segregated from the company's operating capital, providing some level of assurance that client deposits are not used for operational purposes.
Spreads and Costs
Ultima Markets generally offers competitive spreads across various asset classes. When compared to industry-leading brokers like IC Markets, Exness, and ThinkMarkets, its spreads and costs are mostly in line with the market averages.
For example, the average Forex spread is 2.09 pips, which is competitive but slightly higher than IC Markets' 1.54 pips.
Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers
Broker - Account Type | Crypto Average | Forex Average | Indices Average | Commodities Average |
---|---|---|---|---|
Ultima Markets – Standard | 7.60 | 2.09 | - | 0.11 |
Exness – Standard | 22.64 | 2.22 | 7.07 | 0.12 |
IC Markets – Standard | 9.10 | 1.54 | 1.12 | 0.10 |
ThinkMarkets – Standard | 16.89 | 2.06 | 1.59 | 0.14 |
Admirals – Trade | - | 2.65 | - | 0.19 |
Oanda – Standard | 39.00 | 0.75 | - | - |
Forex.com – Standard | - | 3.05 | - | - |
Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD) and that data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads including both spread and commission calculated in.
Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.
Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost. Note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments.
Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.
Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers
Broker - Account Type | BTCUSD | ETHUSD | EURUSD | USDJPY | GBPJPY | EURGBP | AUDNZD | CADCHF | AUS200 | US30 | XAUUSD | XAGUSD |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Ultima Markets – Standard | 12.60 | 2.60 | 1.23 | 1.74 | 2.96 | 1.49 | 2.80 | 2.31 | - | - | 0.19 | 0.02 |
Exness – Standard | 38.87 | 6.40 | 1.29 | 1.87 | 3.89 | 1.98 | 2.63 | 1.62 | 6.41 | 7.74 | 0.20 | 0.05 |
IC Markets – Standard | 15.19 | 3.00 | 0.87 | 1.19 | 2.16 | 1.37 | 2.27 | 1.38 | 1.28 | 0.95 | 0.17 | 0.02 |
ThinkMarkets – Standard | 31.92 | 1.80 | 1.12 | 1.32 | 2.24 | 1.98 | 3.67 | 2.00 | 1.47 | 1.71 | 0.24 | 0.03 |
Admirals – Trade | - | - | 0.96 | 1.53 | 2.88 | 1.15 | 4.17 | 5.21 | 3.57 | - | 0.35 | 0.03 |
Oanda – Standard | 71.94 | 5.99 | 0.23 | 0.65 | 1.63 | 0.38 | 0.51 | 1.10 | - | 5.00 | - | - |
Forex.com – Standard | - | - | 1.41 | 1.71 | 4.34 | 1.51 | 5.23 | 4.08 | - | - | - | - |
Swap Rates/Financing Fees
Swap rates, also known as financing fees, are the costs or earnings associated with holding a trading position overnight. Positive swap rates pay out to the trader, while negative swap rates incur a cost.
Ultima Markets offers competitive swap rates compared to industry-leading brokers, with some of its rates being quite favorable. For instance, the average swap rates for USDJPY and XAUUSD are better than those of several leading brokers, making it a cost-effective choice for long-term traders.
Broker | Best | Average | NZDUSD Swap Short | NZDUSD Swap Long | USDJPY Swap Short | USDJPY Swap Long | XAUUSD Swap Short | XAUUSD Swap Long |
---|---|---|---|---|---|---|---|---|
Ultima Markets | Best | -2.16 | -0.22 | -0.22 | -2.80 | 1.07 | 20.00 | -30.80 |
Exness | - | -6.71 | -0.09 | -0.07 | -2.89 | 0.00 | 0.00 | -37.21 |
IC Markets | - | -2.27 | -0.10 | -0.14 | -2.59 | 1.25 | 20.78 | -32.84 |
ThinkMarkets | - | -3.27 | -0.14 | -0.14 | -2.61 | 1.08 | 19.57 | -37.37 |
Admirals | - | -5.93 | - | - | - | - | 1.43 | -31.59 |
Oanda | - | - | 0.00 | 0.00 | 15.00 | 0.09 | 0.00 | 0.00 |
Forex.com | - | - | 0.00 | 0.00 | 0.00 | 0.00 | - | - |
Does Ultima Markets Offer Islamic/Swap-free Accounts?
Ultima Markets offers Islamic or swap-free accounts, designed for traders who cannot earn or pay interest due to religious beliefs. These accounts do not incur swap or rollover interest on overnight positions.
Traders can apply for an Islamic account directly through the broker's website, and the requirements are generally straightforward, usually involving a declaration of religious belief. This type of account ensures that traders can engage in forex trading without contravening their faith.
Other Fees
Aside from spreads, commissions, and swap rates, Ultima Markets also imposes certain other fees. Withdrawal fees can vary depending on the payment method, and there might be inactivity fees if an account is dormant for a specific period.
It's advisable to check the broker's official website for the most up-to-date and detailed information on these fees to avoid any surprises.
Fee Type | Details |
---|---|
Withdrawal Fee | Varies by payment method |
Inactivity Fee | Applies after a specific period of dormancy |
Comparison to other Brokers
Ultima Markets stands out in the forex industry due to its high leverage options, wide range of trading instruments, and robust trading platforms. When compared to industry leaders like IC Markets and Exness, Ultima Markets offers competitive spreads and favorable swap rates.
However, the lack of user reviews and absence of a bank license might be concerning for some traders. Despite being relatively new, it has managed to gain significant popularity, reflecting its growing presence in the market.
Its regulatory oversight from MU FSC and CY CySEC provides a level of assurance, but potential clients should always consider the risks involved in trading and the historical instances where even regulated firms have failed.
Trading Platforms - Mobile, Desktop, Automated
Platform | Type | Automated Trading | Programming Language |
---|---|---|---|
MetaTrader 4 | Desktop, Mobile, Web | Yes | MQL4 |
Ultima Markets App | Mobile | No | - |
Ultima Markets offers the widely popular MetaTrader 4 platform, known for its advanced charting tools, automated trading capabilities, and user-friendly interface. Traders can use Expert Advisors (EAs) to automate their trading strategies using the MQL4 programming language, which is relatively easy to learn.
The Ultima Markets App provides a streamlined trading experience on mobile devices, though it does not support automated trading.
What Can you Trade?
Asset Class | Number of Instruments |
---|---|
Forex CFD | 60+ |
Crypto CFD | 25+ |
Stock CFD | 120+ |
Stock Index CFD | 19 |
Commodities CFD | 10 |
ETFs | 6 |
Bond CFD | 7 |
Futures CFD | 21 |
Ultima Markets offers a diverse range of trading instruments across multiple asset classes, including Forex, Crypto, Stocks, Indices, Commodities, ETFs, Bonds, and Futures. This variety allows traders to diversify their portfolios and explore different markets.
However, it's important to note that Ultima Markets primarily deals in CFDs (Contracts for Difference), which are derivatives that do not involve ownership of the underlying assets.
CFDs enable traders to speculate on price movements with the advantage of leverage, though this also increases the risk. For more details on the specific instruments available, visit the broker's website.
Available Leverage
Ultima Markets offers varying leverage options depending on the regulatory entity and the instrument traded. Under the Mauritius MU FSC regulation, retail clients can access leverage up to 2000:1, which is among the highest in the industry.
In contrast, clients trading under the Cyprus CySEC regulation are limited to a maximum leverage of 30:1, in line with European regulatory standards designed to protect retail traders.
This high leverage can significantly amplify both potential gains and losses, making it crucial for traders to understand the associated risks fully.
Prohibited Countries
Ultima Markets does not provide services to residents of certain countries due to regulatory restrictions. These countries typically include the United States, Canada, and several others.
Prospective clients should consult the broker's official website or customer support to determine if they are eligible to open an account based on their country of residence.
Ultima Markets Account types
Standard | ECN | |
Commission | - | $5.00 Per Lot |
Maximum leverage | 2000:1 | |
Mobile Platform | MT4 Mobile, Proprietary | |
Trading platform | MT4, WebTrader, Proprietary | |
Spread Type | Variable Spread | |
Minimum Deposit | 50 | |
Minimum Trade Size | 0.01 | |
Trailing Stops | ||
Scalping Allowed | ||
Hedging Allowed | ||
Islamic Accounts |
Standard | |
Maximum leverage | 2000:1 |
Trading platform | MT4WebTraderProprietary |
Mobile platform | MT4 MobileProprietary |
Spread type | Variable Spread |
Minimum deposit | 50 |
Minimum Trade Size | 0.01 |
Trailing Stops | |
Scalping Allowed | |
Hedging Allowed | |
Islamic Accounts |
ECN | |
Commission | $5.00 Per Lot |
Maximum leverage | 2000:1 |
Trading platform | MT4WebTraderProprietary |
Mobile platform | MT4 MobileProprietary |
Spread type | Variable Spread |
Minimum deposit | 50 |
Minimum Trade Size | 0.01 |
Trailing Stops | |
Scalping Allowed | |
Hedging Allowed | |
Islamic Accounts |
Ultima Markets Web traffic
Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.
Websites |
ultimamarkets.com
ultimamkts.com
|
Organic monthly visits | 53,047 (99%) |
Organic traffic rank | 154 out of 827 (Forex Brokers) |
Paid monthly visits | 436 (1%) |
Total monthly visits | 53,483 |
Bounce rate | 35% |
Pages per visit | 3.30 |
Average visit duration | 00:02:31.9630000 |
Ultima Markets Profile
Company Name | Ultima Markets Ltd |
Categories | Forex Brokers, Forex Rebates, Cryptocurrency Rebates |
Primary Category | Forex Brokers |
Year Founded | 2016 |
Headquarters | Cyprus |
Office Locations | Australia, Cyprus, Mauritius, Malaysia, Singapore, Taiwan |
Account Currency | AUD, CAD, EUR, GBP, JPY, NZD, SGD, USD, HKD |
Support Languages | Arabic, Chinese, English, French, German, Indonesian, Italian, Japanese, Malay, Spanish, Thai, Vietnamese, Chinese (Traditional) |
Funding Methods | Bank Wire, Bitcoin, China Union Pay, Credit Card, Alipay, Tether (USDT) |
Financial Instruments | Futures, Forex, Indices, Bonds, Oil/Energies, Cryptocurrencies, Metals, ETFs, Soft Commodities (coffee, sugar...) |
Prohibited Countries | Afghanistan, Albania, American Samoa, Australia, Bosnia and Herzegovina, Burundi, Bermuda, Belarus, Central African Republic, Congo, Ivory Coast, Cuba, Cyprus, Eritrea, Guam, Guinea Bissau, Haiti, Iraq, Iran, North Korea, Lebanon, Macedonia, Mali, Puerto Rico, Russia, Sudan, Singapore, Sierra Leone, Somalia, Syria, United States, Virgin Islands, U.s., Yemen, Yugoslavia, Zimbabwe, Montenegro |
Ultima Markets User reviews
Newer user ratings have greater impact than older ratings and user ratings have no impact after 5+ years old. The more reviews a company receives, the higher the maximum possible aggregate user rating. After 100 reviews a company can receive the highest rating, which is an average of their user ratings.
Ultima Markets Cashback rebates
Standard | ECN | |
Forex | 0.48 Pips | $1.2 Per Lot |
Oil / Energies | $4.8 Per Lot | $1.2 Per Lot |
Metals | Gold $4.8 Per Lot | Gold $1.2 Per Lot |
Shares / Equities | $30 Per 1 Million USD Traded | $9.0 Per 1 Million USD Traded |
Indices | $30 Per 1 Million USD Traded | $9.0 Per 1 Million USD Traded |
Soft commodities (coffee,sugar...) | $30 Per 1 Million USD Traded | $9.0 Per 1 Million USD Traded |
Cryptocurrencies | $48 Per 1 Million USD Traded | $18 Per 1 Million USD Traded |
Payment Options |
Monthly Cash Back
|
Standard | |
Forex | 0.48 Pips |
Oil / Energies | $4.8 Per Lot |
Metals | Gold $4.8 Per Lot |
Shares / Equities | $30 Per 1 Million USD Traded |
Indices | $30 Per 1 Million USD Traded |
Soft commodities (coffee,sugar...) | $30 Per 1 Million USD Traded |
Cryptocurrencies | $48 Per 1 Million USD Traded |
Payment Options |
Monthly Cash Back
|
ECN | |
Forex | $1.2 Per Lot |
Oil / Energies | $1.2 Per Lot |
Metals | Gold $1.2 Per Lot |
Shares / Equities | $9.0 Per 1 Million USD Traded |
Indices | $9.0 Per 1 Million USD Traded |
Soft commodities (coffee,sugar...) | $9.0 Per 1 Million USD Traded |
Cryptocurrencies | $18 Per 1 Million USD Traded |
Payment Options |
Monthly Cash Back
|
What are Ultima Markets rebates?
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
How do Ultima Markets rebates work?
When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.
How much Ultima Markets rebates can I earn?
Ultima Markets Regulation / Money Protection
Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
---|---|---|---|---|---|---|
Ultima Markets Cyprus Ltd | up to €20,000 | 30 : 1 | ||||
Ultima Markets | 2000 : 1 |
Ultima Markets Symbols
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