Ultima Markets Review (Updated for 2024)
We tested Ultima Markets using real-money live accounts. Our reviews are unbiased and driven purely by data collected from live account testing, regulatory data, and feedback from actual customers. No fees were charged for the review, and we maintain editorial independence in our evaluations. Learn more on our About Us page.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
- Solid popularity with a rating of 3.5 out of 5
- Offers a broad range of tradable instruments including Forex, commodities, indices, and crypto CFDs
- Access to MT4 platform for Desktop, Web, and Mobile
- High leverage options up to 1:2000 for clients under Mauritius regulation
Cons
- Limited user reviews available
- Not licensed as a bank, and no public disclosure of financial statements
- Leverage limits depending on regulatory jurisdiction
Trustworthiness & Regulation
Founded in 2016, Ultima Markets operates under the Mauritius Financial Services Commission (MU FSC) and Cyprus Securities and Exchange Commission (CY CySEC), providing clients with regulatory oversight. It ranks 67th out of 815 brokers, further solidifying its reputation in the market.
Deposit Insurance
Ultima Markets offers deposit compensation under CySEC regulation, ensuring protection for traders’ funds up to a certain limit in case of insolvency. Unfortunately, this protection is not available under the MU FSC regulation, although client funds remain segregated from company capital.
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
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
Promotions
Ultima Markets offers a variety of promotions for traders, including:
- 50% Deposit Bonus: Get a bonus of up to $10,000 with deposits starting from $500.
- 20% Deposit Bonus: Available for deposits over $5,000, with a bonus cap of $5,000.
- Extra 1% Profit Bonus: An ongoing promotion that offers an additional 1% on every profit made.
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 |
|
Spreads and Costs
Ultima Markets offers competitive spreads, particularly on its ECN accounts. The average Forex spread is 2.09 pips, comparable to the market but slightly higher than leading brokers like IC Markets.
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 |
| IC Markets – Standard | 9.10 | 1.54 | 1.12 | 0.10 |
| Exness – Standard | 22.64 | 2.22 | 7.07 | 0.12 |
Swap Rates/Financing Fees
Ultima Markets offers competitive swap rates, particularly on long-term trades. For instance, its swap rates for USDJPY are better than many leading brokers.
| 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 | - | - |
Education
Ultima Markets falls short in providing educational resources for traders. While basic tools such as economic calendars and trading calculators are available, the broker lacks comprehensive learning materials and tutorials, making it less attractive for beginners compared to brokers like eToro.
Trading Platforms - Mobile, Desktop, Automated
Ultima Markets supports the widely used MetaTrader 4 platform across Desktop, Web, and Mobile. Traders can automate strategies using Expert Advisors (EAs) via the MQL4 programming language, and the Ultima Markets mobile app offers a streamlined experience for trading on the go.
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.
| 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 |
Leverage
Under Mauritius regulation, Ultima Markets offers leverage up to 1:2000, one of the highest in the industry. Clients trading under CySEC regulation are limited to leverage of 30:1, in line with European standards.
Conclusion
Ultima Markets is a strong contender for traders looking for high leverage, competitive spreads, and a diverse range of instruments. However, the lack of robust educational resources and limited user feedback could deter beginners. Overall, it’s well-suited for experienced traders seeking a comprehensive platform with attractive promotions.
Ultima Markets User Rating
Ultima Markets reviews by verified customers, cashback rebates, expert ratings, spreads & fees, leverage, demo accounts, downloads, trading platforms and more.
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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?
How do Ultima Markets rebates work?
When a trader links their new or existing forex trading account to us, the broker pays us a volume based commission for every trade that's placed. We then pay most of this back to our clients. Unlike a few of our competitors your spreads will never increase as a result of using our service. Instead, you'll pay lower transaction costs and increase your win ratio. Ultimately, you get a better deal working with us than working only with the broker.How much Ultima Markets rebates can I earn?
Which Ultima Markets rebate program is the best?
Will my Ultima Markets spreads increase?
How can it be better to work through a 'middle-man' than just working directly with Ultima Markets?
Ultima Markets rebates are similar in nature to a credit card rewards program. Let’s take a Visa credit card for example. When a consumer purchases something using a credit card the vendor incurs a fee of between 1.5% – 3% which they pay to Visa. Many consumers are enrolled in a credit card rewards program and receive approximately 1% cashback reward on any credit card purchase they make. Is it free money? Yes and no. It’s money the consumer would not have received if they were not signed up with the rewards program, however it’s paid for out of fees charged to the vendor who will naturally build such fees into the cost of their products.
A forex rebate provider typically has a contractual relationship with a number of different forex brokers and earns a commission for each trade placed by a trader they refer to the forex broker. The marketing benefits afforded to forex brokers by such a system are substantial, from actual referred clients to branding, added search engine visibility, etc. The rebate provider then pays the client a cash rebate from the commission they earn from the forex broker.
Are Ultima Markets rebates worth the effort?
The biggest obstacle to any forex trader is the cost of the transaction. It may seem small, but in fact it’s the biggest factor that gives the trader less than a 50% chance of winning any particular trade. This seemingly small cost can be devastating when compounded, and in the long term if the trader relies on luck alone they are sure to continually lose on their investment. Ultima Markets rebates reduce the cost of the transaction and increases a trader’s probability of winning. Still, a trader must rely on their trading skill to close the remainder of the gap.
Why don't you offer more forex rebate brokers?
We have chosen to focus on the more reliable, competitive and trustworthy brokers. If we were to add every forex broker that approached us we would have at least several hundred. Currently we have a relationship with all of the most popular broker’s across the globe. As a customer-focused company our paramount concern is that we send clients to broker’s where they will be able to withdraw their funds easily when the time comes; and experience fair trading conditions and good customer service.
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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