xChief vs Ultima Markets Comparison: Which Is Better for Traders?
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Who is better - xChief or Ultima Markets?
Our pick: Ultima Markets
Based on multiple factors - spreads and fees, available assets and instruments, execution quality, platform usability, support level, and educational resources - Ultima Markets looks preferable to xChief.
Ultima Markets scored 4.4/5 and ranks 18 in our all Forex brokers list, whereas xChief has 4.1/5 and ranks 43.
This is not financial advice. See the full comparison below.
Who is xChief suitable for?
xChief is suitable for traders looking for a wide range of trading instruments and low spreads. However, the broker is not suitable for those seeking a strong analytical section and educational courses
Who is Ultima Markets suitable for?
Ultima Markets is suitable for experienced traders and those who use automated strategies. It is less suitable for beginners due to a lack of educational materials.
Comparison Table of xChief and Ultima Markets
| Broker | xChief | Ultima Markets |
|---|---|---|
| Rating | 4.1/5 | 4.4/5 |
| Foundation Year | 2014 | 2016 |
| Regulated in Countries | Comoros | Mauritius, Cyprus |
| Minimum Deposit |
|
|
| Spread | from 0 points | from 0 points |
| Max Leverage | 1:1000 | 1:2000 |
| Trading Assets (CFDs) |
|
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| Trading Platforms |
|
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| Review | xChief Review | Ultima Markets Review |
xChief Review
xChief offers traders a variety of opportunities and services for successful trading in the Forex market. With a wide selection of trading instruments, reliable trading platforms, contests, and educational materials, the broker creates conditions for developing traders of all experience levels.
Pros and Cons of xChief
Pros
- A wide range of trading instruments.
- Availability of cent and PAMM accounts.
- Tight spreads and low commission per transaction.
- Scalping and algorithmic trading allowed.
Cons
- Regulation in an offshore jurisdiction.
- Weak analytical section.
- No educational courses and webinars for beginner traders.
xChief is in the top 10 of the following ratings:
Ultima Markets Review
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.
Pros and Cons of Ultima Markets
Pros
- Low trading commissions.
- Coverage of all major trading asset markets.
- Extensive analytical materials and tools.
- Efficient technical support.
Cons
- Lack of educational materials.
- No phone support.
Ultima Markets is in the top 10 of the following ratings:
Reliability
| Broker | xChief | Ultima Markets |
|---|---|---|
| Reliability | 3/5 | 4.4/5 |
| Foundation Year | 2014 | 2016 |
| Regulated in Countries | Comoros | Mauritius, Cyprus |
| Regulators | MISA MISA | FSC FSC CySEC CySEC |
xChief
ForexChief is of medium credibility, having a license from a body in an offshore jurisdiction.
Ultima Markets
Ultima Markets demonstrates high reliability due to multi-tier regulation and client protection through insurance coverage. This makes the broker a safe and trusted partner for traders.
Pros
- Regulation by FSC and CySEC.
- Membership in The Financial Commission.
- Insurance coverage up to $1,000,000 USD.
Cons
- Lack of licenses from stricter regulators such as the FCA or ASIC.
Account Opening
| Broker | xChief | Ultima Markets |
|---|---|---|
| Account Opening | 5/5 | 5/5 |
| Minimum Deposit |
|
|
xChief
Opening an account with Forex Chief is simple and fast thanks to a clear registration and verification process.
Ultima Markets
The account opening process at Ultima Markets is easy, convenient, and quick, making it attractive for new clients.
Pros
- Simple and fast registration.
- Accessible minimum deposit.
- Verification using standard documents.
Account Types
| Broker | xChief | Ultima Markets |
|---|---|---|
| Account Types | 5/5 | 4.7/5 |
| Trading Accounts |
|
|
| Minimum Deposit |
|
|
| Spread | from 0 points | from 0 points |
| Max Leverage | 1:1000 | 1:2000 |
| Trading Assets (CFDs) |
|
|
| Trading Platforms |
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|
| Demo Account | ||
| Swap-free Account |
xChief
Forex Chief offers a variety of account types, satisfying the needs of different traders, from beginners to professionals.
Pros
- Wide selection of accounts: DirectFX, Classic+, cent, and Islamic.
- Demo accounts are available for novice traders.
- Investment accounts available: PAMM accounts and copy trading.
Ultima Markets
Ultima Markets offers a variety of accounts that meet the needs of different traders, including standard, ECN, cent, and Islamic accounts. However, additional services could make their offering even better.
Pros
- A variety of accounts for different categories of traders.
- Islamic accounts available.
- Own copy trading platform.
Cons
- Lack of fixed spread accounts.
Commissions
| Broker | xChief | Ultima Markets |
|---|---|---|
| Commissions | 4.2/5 | 5/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 0.7 | 1 |
| Commission per Lot | $2.5 | $2.5 |
xChief
Forex Chief offers attractive commissions and tight spreads, although swaps are average for the market. Rebates add extra benefits for active traders.
Pros
- Low commission per trade.
- Tight spreads.
- No inactivity fees and no withdrawal fees.
Cons
- High swaps.
Ultima Markets
Ultima Markets has low trading commissions, making it attractive for traders. The absence of inactivity fees and withdrawal fees adds to the advantages.
Pros
- Low commissions on ECN account ($5 per lot).
- Tight spreads on standard account.
- No inactivity fees and withdrawal fees.
Deposit and Withdrawal
| Broker | xChief | Ultima Markets |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
| Account Funding Methods |
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|
xChief
ForexChief offers a wide range of deposit and withdrawal methods without any fees on their part, with fast processing of requests.
Ultima Markets
Ultima Markets offers convenient deposit and withdrawal methods with minimal costs and fast processing time, making the broker attractive for traders.
Pros
- Wide range of deposit and withdrawal methods.
- No withdrawal fees.
Cons
- Withdrawal time up to 5 business days.
Markets and Products
| Broker | xChief | Ultima Markets |
|---|---|---|
| Markets and Products | 4/5 | 4.5/5 |
| Forex | 39 | 60 |
| Precious Metals | 2 | 9 |
| Energy Carriers | 3 | 7 |
| Indices | 10 | 28 |
| Stocks | 100 | 86 |
| Cryptocurrency | 5 | 47 |
| Soft Commodities | - | 7 |
| ETF | - | 6 |
| Bonds | - | 7 |
xChief
Forex Chief offers a respectable variety of trading instruments.
Pros
- Wide range of currency pairs and CFDs.
- Access to cryptocurrency trading.
- Flexible margin requirements.
Cons
- Lack of soft commodities.
- Limited number of stock CFDs.
Ultima Markets
Ultima Markets provides a wide selection of markets and products, satisfying the needs of most traders.
Pros
- Wide assortment of CFDs.
- Coverage of all major markets.
Cons
- Average number of stock CFDs compared to competitors.
Trading Platforms
| Broker | xChief | Ultima Markets |
|---|---|---|
| Rating | 4/5 | 4/5 |
| Trading Platforms |
|
|
xChief
Forex Chief offers widely used and functional MT4 and MT5 platforms, providing convenience and accessibility for traders.
Pros
- Use of popular and proven MT4 and MT5 platforms.
- Availability of platforms on various OS (Windows, iOS, Android).
Cons
- Lack of proprietary unique platform.
- Limited selection of platforms compared to some competitors.
Ultima Markets
Ultima Markets' trading platforms are user-friendly and functional, making them an excellent choice for most traders.
Pros
- Support for MT4 with extensive functionality.
- Intuitive mobile application.
Cons
- Limited choice of platforms.
Analytics
| Broker | xChief | Ultima Markets |
|---|---|---|
| Rating | 3/5 | 4/5 |
xChief
ForexChief offers basic analytical tools, but they are generally insufficient for serious trading.
Pros
- Current central bank interest rates.
- Convenient trader's calculator.
Cons
- Outdated economic articles.
- Insufficient variety of analytical tools.
Ultima Markets
Ultima Markets possesses excellent analytics and tools, aiding traders in making informed decisions. However, the lack of unique analytical tools and limited number of trading signals slightly lower the rating.
Pros
- Up-to-date market news.
- Expert analysis of popular instruments.
- Economic calendar and trading calculators.
Cons
- Lack of unique analytical tools.
- Limited number of specialized reviews.
Education
| Broker | xChief | Ultima Markets |
|---|---|---|
| Rating | 3/5 | 1/5 |
xChief
ForexChief's educational materials cover the basics, but do not offer in-depth training.
Pros
- Wide range of article topics for beginners.
- Various trading strategies and indicators are presented.
Cons
- Lack of more advanced materials.
- No video tutorials or webinars.
Ultima Markets
Ultima Markets offers limited educational materials, which is insufficient for beginner traders. To improve the level of education, webinars, video tutorials, and articles should be added.
Pros
- Unlimited demo account.
Cons
- Absence of webinars and video tutorials.
- Lack of articles and podcasts.
Customer Support
| Broker | xChief | Ultima Markets |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
| Email Support |
|
|
| Hotline Phones |
| — |
| Social Media |
Twitter
Facebook
Instagram
LinkedIn
YouTube
TelegramxChief
ForexChief support is well-organized and easily accessible, but has limited operating hours.
Ultima Markets
Ultima Markets' customer support demonstrates high efficiency and professionalism, providing prompt assistance through various communication channels.
Pros
- 24/7 support.
- High response speed.
- Variety of communication channels (email, chat, Telegram).
Cons
- No phone support.
Comparisons of xChief and Ultima Markets with other brokers
Conclusion
Ultima Markets stands out as the better overall pick, while xChief trails on aggregate criteria.
Ultima Markets scored 4.4/5 and ranks 18 in our rating; xChief has 4.1/5 and ranks 43.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: xChief or Ultima Markets?
Ultima Markets comes out ahead by overall rank (score 4.4/5, position 18) versus xChief (score 4.1/5, position 43).
Which broker is better for beginners: xChief or Ultima Markets?
Ultima Markets is often a smoother start thanks to simpler onboarding and stronger baseline metrics. Still, your tools and budget should drive the final choice.
Who has lower typical trading costs (spreads/commissions) — xChief or Ultima Markets?
It depends on the instrument and account type. Compare the live conditions in the “Commissions” section on this page — we break down the nuances category by category.
What trading platforms are available with xChief and Ultima Markets?
xChief: MetaTrader 4, MetaTrader 5. Ultima Markets: MetaTrader 4, WebTrader. See the “Platforms” section for details and selection tips.
What markets can you trade with xChief and Ultima Markets?
xChief: Forex, Precious Metals, Energy Carriers, Indices, Stocks, Cryptocurrency. Ultima Markets: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, ETF, Bonds, Cryptocurrency. Full lists and differences are in the “Markets” section.
What account types are offered by xChief and Ultima Markets?
xChief: CENT, Classic+, DirectFX, xPRIME. Ultima Markets: Standard, ECN, Standard Cent Account, ECN Cent Account. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by xChief and Ultima Markets?
xChief: Skrill, Neteller, Volet, WebMoney, Perfect Money, FasaPay, SEPA, Credit and Debit Cards, Online banking. Ultima Markets: Alipay, Bank Transfer, UnionPay, Visa, Mastercard, Online banking. Check method-specific fees/settlement times.
Which broker is safer — xChief or Ultima Markets — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
