Ultima Markets Overall rating

	Rating	Weight
User Rating	4.5 (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

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	Cyprus - CY CYSEC		up to €20,000			30 : 1
Ultima Markets	Mauritius - MU FSC					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

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

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

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?

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.

Ultima Markets Profile

24 hour support

Segregated Accounts

Islamic Accounts

Accepts Canadian clients

Accepts Japanese Clients

Non expiring demo

Trading API

Cent accounts

Negative balance protection

Social trading

Regulatory deposit insurance

Trailing stops

Bonuses

Interest on margin

Fixed spread

Variable spread