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Ultima Markets Review 2024

Last updated Jun 17, 2024
Ultima Markets is trusted. Tested via live trading.
Ultima Markets №10 in the Forex brokers list

Highlights of Ultima Markets

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RegisterTrading CFDs carries high risks. You may lose all invested funds
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Trading Assets
ForexIndicesPrecious MetalsEnergy CarriersStocksETFBondsCryptocurrencySoft Commodities
Trading Platforms
MetaTrader 4WebTrader
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compare Ultima Markets trading accounts

Ultima Markets is a global forex and CFD broker regulated by the Financial Services Commission of Mauritius (FSC) and the Cyprus Securities and Exchange Commission (CySEC).

The broker is distinguished by low trading commissions on the ECN account and tight spreads on the standard account. The account opening process is simple and fast. Traders have access to various analytical materials and tools, including a demo account and a free VPS.

However, Ultima Markets has a limited selection of CFDs on stocks and not enough educational materials for beginner traders.

Pros and Cons of Ultima Markets


  1. Low trading commissions.
  2. Coverage of all major trading asset markets.
  3. Extensive analytical materials and tools.
  4. Efficient technical support.


  1. Lack of educational materials.
  2. No phone support.

Ultima Markets Broker Overview

Foundation Year2016
Official Websitehttps://www.ultimamarkets.com
Regulated in CountriesMauritius, CyprusMore Details
Minimum Deposit
  • 20 USD
Spreadfrom 0 points
Max Leverage1:2000
Trading Assets
  • Forex
  • Indices
  • Precious Metals
  • Energy Carriers
  • Stocks
  • ETF
  • Bonds
  • Cryptocurrency
  • Soft Commodities
Trading Platforms
  • MetaTrader 4
  • WebTrader
Email Support
  • contact@ultimamarkets.com
  • info@ultimamarkets.com
Hotline Phones
Social Media

Ultima Markets was founded in 2016 and has since established itself as a reliable partner in financial market trading. The platform provides clients with a wide range of financial services, basing its operations on principles of reliability and transparency.

Ultima Markets focuses on providing high-quality services and a diverse range of trading products to meet the needs of various clients. The broker offers over 250 CFDs, including Forex, commodities, indices, and stocks. To date, the company has served clients from 172 countries and regions, providing them with advanced trading systems and reliable services.

Ultima Markets Review Summary

To evaluate Ultima Markets, we used our detailed methodology, which takes into account a multitude of key factors, including reliability, trading commissions, range of instruments, quality of customer service, and many other parameters.

We invite you to continue reading our Ultima Markets review to learn more about the advantages and disadvantages of this broker and to draw conclusions about partnering with them.

Reliability and Regulation

Legal EntityRegulator

Ultima Markets demonstrates a high level of reliability and compliance with regulatory requirements, confirmed by the presence of multiple licenses and participation in international organizations.

Yes, Ultima Markets is licensed by the Financial Services Commission (FSC) of Mauritius and the Cyprus Securities and Exchange Commission (CySEC), which attests to its strict adherence to international standards and requirements imposed on financial institutions.

Furthermore, Ultima Markets is a member of The Financial Commission, an independent international body that deals with the resolution of disputes in the Forex and CFD markets. This membership confirms the company's commitment to principles of fair trading and transparency, providing clients with an additional level of confidence in the fair resolution of potential disputes.

An important aspect of client protection is the insurance coverage, provided by Willis Towers Watson (WTW), a global insurance broker with many years of experience, founded in 1828. All Ultima Markets clients are protected by this coverage with the possibility of compensation claims up to 1,000,000 US dollars per account.

Account Opening


The account opening process at Ultima Markets is easy, convenient, and fast. Registration takes only a few minutes, and verification requires standard documents, ensuring client security. Low minimum deposits make the process accessible to various categories of traders, adding convenience and flexibility.


The account registration process at Ultima Markets is quite simple and takes only a few minutes. The registration form requires you to specify the following:

  • country of residence,

  • email address (to which a verification code is immediately sent),

  • password.

Ultima Markets Registration Form
Ultima Markets Registration Form

Then you need to choose the type of account (Individual or Company), confirm that you are not a resident of the USA, consent to the use of your data for mailing purposes, and agree to the privacy policy.

After that, you will have access to the Ultima Markets personal account area.

Ultima Markets Client Portal
Ultima Markets Client Portal

To open a trading account, the following information is required:

  • last name,

  • first name,

  • gender,

  • date of birth,

  • phone number,

  • country of residence,

  • nationality.

Opening an account at Ultima Markets
Opening an account at Ultima Markets

Next, select the type of trading account and trading platform, as well as the account currency: USD, GBP, CAD, EUR, AUD, SGD, NZD, HKD, and JPY.

Opening a trading account at Ultima Markets
Opening a trading account at Ultima Markets

The entire account opening process can be completed in 5 minutes.


To fully activate an account with Ultima Markets, a verification process is required, which includes identity verification and proof of residence. Identity verification allows you to start trading, while address confirmation is necessary for fund withdrawals.

Documents required for verification

  1. Identity verification:

    • Passport (first page with photo)
    • National ID card
    • Driver's license
  2. Proof of address:

    • Utility bill (within the last 3 months)
    • Bank statement (within the last 3 months)
    • Rental agreement or proof of residency
Important! Before making a deposit into your trading account, ensure that you can pass address verification to avoid future withdrawal issues.

Minimum Deposit

The minimum deposit is $50 for Standard and ECN accounts and $20 for a Cent account. These low requirements allow you to start trading even with a small initial capital, providing flexibility and convenience for new clients.

Account Types


Ultima Markets offers a sufficient variety of trading accounts and services, making it attractive for different traders. However, to further satisfy customer needs, Ultima Markets could consider introducing fixed-spread accounts and conducting contests among traders. These additional services could make the broker's offer even more competitive and appealing.

Trading Accounts

StandardECNStandard Cent AccountECN Cent Account
Account CurrencyUSD, EUR, GBP, CAD, AUD, NZD, SGD, HKD, JPY
Minimum Deposit50 $20 $
Trading PlatformsMetaTrader 4WebTrader
Spreadfloatingfrom 1 pipsfor EURUSD~ 1 pipsfloatingfrom 0 pipsfor EURUSD~ 0.1 pipsfloatingfrom 1 pipsfor EURUSD~ 1 pipsfloatingfrom 0 pipsfor EURUSD~ 0.1 pips
Commission per Tradeper 1 lot2.5 $per 1 lot2.5 $
Trading AssetsForexIndicesPrecious MetalsEnergy CarriersStocksETFBondsCryptocurrencySoft CommoditiesForexPrecious Metals
Opened Positions
Margin Call / Stop Out50% / 20%80% / 50%
Order ExecutionSTPECNMM
Demo Account
Islamic Account


The Standard account is designed for traders who value stable trading conditions. This account does not involve commissions for transactions and is available for opening with a minimum deposit of $50. It is ideal for those who appreciate reliability and simplicity in trading.


The ECN account is aimed at experienced traders who want to take advantage of the best trading conditions. This type of account provides direct market access and tighter spreads, making it ideal for active traders seeking maximum efficiency in their transactions.

Cent Account

The Cent account is created for traders looking for flexibility and optimal risk management. It allows trading in smaller volumes while retaining all the benefits of a standard account. The minimum deposit for opening a cent account is $20, making it suitable for beginner traders and those who want to test their strategies with minimal risks.

Demo Account

Ultima Markets offers the convenience of opening a demo account through the personal cabinet. Standard and ECN accounts with leverage from 1:100 to 1:500 are available. The initial balance can be selected from $1000 to $100,000.

Demo Account has no time limits, allowing traders to practice and test strategies without financial risk.

PAMM/MAM Accounts

Ultima Markets offers flexible and efficient PAMM/MAM solutions for fund management. These accounts are designed for optimal management and performance enhancement, ensuring transparency and convenience for both managers and investors.

  • PAMM (Percentage Allocation Management Module) allows investors to entrust their funds to qualified traders or managers who earn based on the profit generated.

  • MAM (Multi-Account Manager) is used by managers to simultaneously manage multiple trading accounts, offering clients the opportunity to profit from professional management.

How to connect to Ultima Markets PAMM/MAM accounts:

  1. Registration: register on the platform and complete the verification process.
  2. Request PAMM/MAM Account: send a request to open a manager account to info@ultimamarkets.com.
  3. Start Trading: register investor accounts, set terms, and begin trading.

These capabilities make Ultima Markets PAMM/MAM accounts attractive for professional traders and investors seeking optimal capital management and high performance.

Social Trading

Ultima Markets offers a convenient and effective platform for social trading through the UM Social application. It is an online network of traders where users can exchange ideas, share trading decisions, and copy the strategies of successful traders.

Copy trades on Ultima Markets
Copy trades on Ultima Markets

How to join UM Social:

  1. Download and Register: install the UM Social app and register.
  2. Funding and Copying: fund your account, select a trader, and start copying their trades with one click.
  3. Earn Rewards: benefit from the successes of your strategy provider.
Trader statistics in UM Social
Trader statistics in UM Social

UM Social is compatible with most smart devices, allowing you to trade and copy trades anytime and anywhere.

Islamic Account

Swap Free or Islamic Account is necessary for clients who need to avoid swap charges. Instead of swaps, an administrative fee is charged for holding positions overnight. Trading conditions on Ultima Markets for these accounts are similar to regular accounts.

Process of Opening an Islamic Account:

  • To open a Swap Free account, a written request must be submitted to customer support.
  • Conversion from a regular account is possible only after closing all positions and settling the account.

Terms of Use for the Islamic Account

  • The Islamic account must be used in good faith, without attempts to profit from the absence of swaps.
  • Ultima Markets reserves the right to cancel or revoke the Swap Free account without explanation if abuses are detected.

This account ensures compliance with religious requirements and transparency of trading conditions for clients.


Ultima Markets provides free access to a Virtual Private Server (VPS) for continuous operation of the trading platform. VPS is useful for traders who are using automated strategies and prevents downtime due to technical issues.

How to Get a Free VPS:

  1. Deposit at least 1000 USD.
  2. Select a VPS provider.
  3. Close trades amounting to at least 1 million USD per month.
  4. Upload your account to VPS through the client portal for reimbursement of up to 50 USD to your trading account.

These conditions make using a VPS from Ultima Markets convenient and beneficial for traders.



At Ultima Markets has low trading commissions, which makes it attractive for various categories of traders. The commission for a transaction on an ECN account is $5 per full lot, which is below the market average. Spreads on the standard account are also quite narrow, and swaps are lower than the market average. Additionally, the broker does not charge inactivity fees or withdrawal fees, which creates additional advantages for traders.

Trading Commissions

Trading commissions are an integral part of working with a broker. Ultima Markets offers a transparent system that consists of transaction fees, spreads, and swaps.

Transaction Fee

The transaction fee is a fixed charge that the broker levies on each trade in a trading account. Ultima Markets charges a commission on an ECN account of $5 per full lot. This is below the market average, which makes this account attractive for active traders.

BrokerIC MarketsRaw SpreadPepperstoneRazorUltima MarketsECNRoboforexECNFxProStandard
Commission per lot$3.5$3.5$2.5$2.16$0.00


Spreads are the difference between the bid and ask quotes of a currency pair or other financial instrument. This is another way brokers earn on their services. Ultima Markets offers narrow spreads on the standard account, which reduces trading costs for traders.

AssetAverage spreadSwap longSwap short
EURUSD1.0 pips-5.30 pips2.19 pips
GBPUSD1.0 pips-1.60 pips-0.22 pips
AUDUSD1.3 pips-2.98 pips0.74 pips
NZDUSD1.5 pips-2.18 pips-2.17 pips
USDCAD1.1 pips-1.95 pips-6.25 pips
USDCHF1.3 pips6.35 pips-14.07 pips
USDJPY1.3 pips10.03 pips-26.57 pips


Swaps should also be considered for long-term trading. This is a fee or income for carrying an open position to the next day. Swaps vary for different currency pairs and depend on the type of position - long or short. The cost of swaps at Ultima Markets is lower than the market average, which makes the broker attractive for traders who prefer long-term trading.

Deposit and Withdrawal


Ultima Markets provides a variety of convenient methods for depositing and withdrawing funds with minimal costs and fast processing time, which makes it attractive for traders.

Deposit Methods

Payment SystemCurrenciesDeposit FeeOperation Limit
from 200 USDup to 20000 CNY
Bank TransferBank Transfer
from 50 to 99999999.99 USD
from 200 USDup to 49999 CNY
from 50 to 1900 USD
from 50 to 1900 USD
Online bankingOnline banking
from 50 USDup to 300000000 VNDup to 500000 THB
CryptocurrencyBlockchainDeposit FeeOperation Limit
Логотип BitcoinBTC (Bitcoin)BTC
from 50 to 5000000 USD
Логотип TetherUSDT (Tether)ERC20
from 50 to 5000000 USDT
Логотип TetherUSDT (Tether)TRC20
from 50 to 5000000 USDT
Логотип TetherUSDT (Tether)Omni
from 50 to 5000000 USDT

Ultima Markets supports a variety of deposit methods, including credit cards, online banking, bank transfers, electronic payment systems, and cryptocurrencies. The processing time for all methods except bank transfer is up to 1 hour with no commission. Bank transfers are processed within 2-5 business days with possible transfer and currency conversion fees charged by your bank.

Withdrawal Methods

Payment SystemCurrenciesWithdrawal FeeOperation Limit
from 40 USD
Bank TransferBank Transfer
from 40 USD
from 40 USDup to 49999 CNY
from 40 USD
from 40 USD
Online bankingOnline banking
from 40 USDup to 300000000 VNDup to 500000 THB
CryptocurrencyBlockchainWithdrawal FeeOperation Limit
Логотип BitcoinBTC (Bitcoin)BTC
from 40 to 5000000 USD
Логотип TetherUSDT (Tether)ERC20
from 40 to 5000000 USDT
Логотип TetherUSDT (Tether)TRC20
from 40 to 5000000 USDT
Логотип TetherUSDT (Tether)Omni
from 40 to 5000000 USDT

For withdrawals, Ultima Markets offers the same methods as for deposits: credit cards, online banking, bank transfer, electronic payment systems, and cryptocurrencies. Withdrawals are carried out with no commission for the client. Withdrawals via cryptocurrencies or online banking take up to 2 business days, other methods require from 2 to 5 business days.

Deposit Bonuses

Ultima Markets offers two types of deposit bonuses that help increase traders' trading capital and provide flexible conditions for profit-taking.

20% Deposit Bonus

  • Trading capital increase: up to 1.5 times.
  • Profit withdrawal: at any time.
  • An additional bonus: 20% on all subsequent deposits.
How to get the bonus:
  1. Register or activate the bonus in your personal account.
  2. Deposit funds to instantly receive the bonus.
Bonus Calculation Example:
Deposit ($)Credit Bonus ($)
10,000(20% x 2,500) + (10% x 7,500) = 1,250
47,500(20% x 2,500) + (10% x 45,000) = 5,000

50% Deposit Bonus

  • Trading Capital Increase: up to 1.5 times.
  • Profit Withdrawal: at any time.
  • Additional Bonus: 20% on all subsequent deposits.
How to Get the Bonus:
  1. Register or activate the bonus in your account.
  2. Fund your account to instantly receive the bonus.
Bonus Calculation Example:
Deposit ($)Credit Bonus ($)
5000(50% x 1,000) + (20% x 4,000) = 1,300
48,500(50% x 1,000) + (20% x 47,500) = 10,000

These bonuses allow Ultima Markets traders to significantly increase their trading capital and fully leverage market opportunities.

Markets and Products


Ultima Markets offers a broad selection of trading instruments, covering all major markets, making it a good choice for most traders. However, some competitors offer an even greater number of CFD products, especially stocks.

Which Markets Are Available?

BrokerIC MarketsUltima MarketsPepperstone
Precious Metals7920
Energy Carriers574
Soft Commodities8716

Ultima Markets provides CFDs on currency pairs, commodities, indices, stocks, ETFs, bonds, and cryptocurrencies. However, compared to top competitors, Ultima Markets has an average number of CFD products, although the entire range of markets is available.


Trading InstrumentMax. Leverage for Retail Traders
Precious Metals
Energy Carriers
Soft Commodities

Leverage depends on the account, balance of funds, and trading instrument. The table considers the maximum leverage depending on the trading instrument.

Trading Platforms


Ultima Markets offers convenient and functional trading platforms, that meet the needs of most traders, but expanding the choice of platforms could further improve the user experience.

MetaTrader 4

MetaTrader 4 (MT4) is a popular trading platform that supports a wide range of features for traders. MT4 provides access to various instruments, such as currency pairs, stocks, metals, and indices.

The platform includes 9 types of timeframes, more than 30 popular technical indicators, and 24 analytical tools. MT4 ensures secure and reliable trading with fast order execution.

WebTrader Ultima Markets
WebTrader Ultima Markets

You can download MetaTrader 4 in the Ultima Markets personal area for Windows, iPhone/iPad, and Android, or use it as a web application in a browser.

Ultima Markets App

The Ultima Markets App is an innovative and intuitive solution for managing trades in the derivatives market.

Ultima Markets App
Ultima Markets App

The app allows you to:

  • View real-time quotes and execute trades
  • Open and close positions at any time and place
  • Place buy/sell orders with a wide selection of assets
  • View trading history
  • Use 9 types of timeframes and more than 30 popular technical indicators
  • Apply 24 analytical tools
Ultima Markets App
Ultima Markets App

The app provides access to major global instruments, including currencies, stocks, metals, energy, and indices, and offers a secure and efficient trading environment.



Ultima Markets offers some high-quality analytical materials and tools, making it an excellent choice for traders looking to conduct in-depth market analysis and make informed trading decisions. However, there is a lack of unique analytical tools such as AutoChartist, market news feed in the terminal, or trading signals.

Market News

Ultima Markets provides up-to-date market news, helping traders make well-informed trading decisions.

Market News from Ultima Markets
Market News from Ultima Markets

For instance, the latest updates on US indices and currency pairs allow for staying informed about market movements and planning strategies.

Broker's Expert Analysis

The team of professional analysts at Ultima Markets offers detailed analysis of popular instruments.

Analysis from Ultima Markets experts
Analysis from Ultima Markets experts

For example, daily reports on GBP/USD include key factors, technical analysis, and forecasts, which help traders better understand the market and find trading opportunities.

Economic Calendar

The economic calendar from Ultima Markets allows for the tracking of significant economic events and data that impact the market. This helps traders to respond to news in a timely manner and adjust their strategies.

Economic Calendar from Ultima Markets
Economic Calendar from Ultima Markets

Trading Calculator

Ultima Markets offers various calculators to simplify the trading process. Included are margin, profit, and swap calculators, allowing traders to focus on making trading decisions rather than on calculations.

Ultima Markets Calculators
Ultima Markets Calculators



The only available educational tool at Ultima Markets is an unlimited demo account, which is insufficient for beginner traders. To improve the quality of education, it is necessary to expand the range of educational materials and tools.

Customer Support


Customer support at Ultima Markets demonstrates high efficiency and professionalism, providing prompt assistance through various communication channels.

How to Contact Support?

You can contact Ultima Markets technical support through several channels:

However, there is no possibility for instant communication by phone.

Support Working Hours

Ultima Market's technical support operates 24/7, providing assistance at any time of day or night.

Feedback on Technical Support

Users generally give positive feedback about Ultima Market's technical support. They note the high responsiveness and willingness to help, as well as the quick and efficient processing of requests. Many clients are satisfied with the fast withdrawal process and the quality of support provided.


Ultima Markets is a broker offering a wide range of trading instruments and platforms, making it attractive to various categories of traders. With low trading commissions, user-friendly platforms, and extensive analytical materials, the broker is suitable for experienced traders and those who use automated strategies. However, due to the lack of educational materials, Ultima Markets is less suitable for beginner traders, but it is an excellent choice for anyone who does not require training.


Is Ultima Markets legit?

Yes, Ultima Markets is a legitimate broker. Ultima Markets is a licensed and regulated broker that provides reliable and transparent services to its clients. The broker is regulated by the Financial Services Commission of Mauritius (FSC) and the Cyprus Securities and Exchange Commission (CySEC), confirming its legitimacy and security.

Which country is Ultima Markets from?

Ultima Markets is based in Limassol, Cyprus.

Is Ultima Markets an ECN broker?

Yes, Ultima Markets offers an ECN (Electronic Communication Network) account. This type of account allows traders to execute orders directly through liquidity providers, providing access to tighter spreads and faster execution.

How does Ultima Markets make money?

Ultima Markets makes money primarily through the spreads on trades. It may also earn from additional fees such as overnight financing charges, inactivity fees, and commissions on certain types of accounts.

Is Ultima Markets good for beginners?

Yes, Ultima Markets can be suitable for beginners. It offers a user-friendly platform and customer support to help new traders get started.

Does Ultima Markets offer a demo account?

Yes, Ultima Markets offers a demo account. This allows potential clients to practice trading in a risk-free environment with virtual funds.

How can I open an account with Ultima Markets?

To open an account with Ultima Markets, you need to visit their website, fill out the registration form, provide the required identification documents, and complete the verification process. Once approved, you can fund your account and start trading.

How can I delete my Ultima Markets account?

To delete your Ultima Markets account, you will need to contact their customer support team. They will guide you through the account closure process, which usually involves submitting a formal request and ensuring all funds are withdrawn from the account.

What is the minimum deposit for Ultima Markets?

The minimum deposit for Ultima Markets is $50 for Standard and ECN accounts. For Cent accounts, the minimum deposit is $20.

What is the maximum leverage on Ultima Markets?

The maximum leverage offered by Ultima Markets can go up to 1:2000, depending on the asset class.

How do I deposit funds in an Ultima Markets account?

To deposit funds in an Ultima Markets account, you can use various methods such as bank transfers, credit/debit cards, electronic payment systems, and cryptocurrencies.

How do I withdraw money from Ultima Markets?

To withdraw money from Ultima Markets, you need to log in to your trading account, navigate to the withdrawal section, and submit a withdrawal request. The funds will be transferred to your chosen payment method.

Does Ultima Markets provide VPS?

Yes, Ultima Markets provides VPS (Virtual Private Server) services for its clients, which is beneficial for those who require reliable and uninterrupted trading.

Is Ultima Markets suitable for scalping?

Yes, Ultima Markets is suitable for scalping. The broker allows various trading strategies, including scalping, and provides the necessary tools for this approach.

Is Ultima Markets suitable for auto-trading?

Yes, Ultima Markets is suitable for auto-trading. It supports various trading platforms that allow for automated trading strategies.

Is Ultima Markets suitable for hedging?

Yes, Ultima Markets is suitable for hedging. The broker permits hedging strategies, allowing traders to manage risk by opening multiple positions on the same asset.

Is Ultima Markets suitable for spread betting?

No, Ultima Markets does not offer spread betting. It provides other forms of trading, but spread betting is not one of them.

Visit Ultima MarketsTrading CFDs carries high risks. You may lose all invested funds

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.