xChief vs Ultima Markets Comparison
Compare trading conditions, commissions and platforms of Forex brokers xChief and Ultima Markets. Find out which broker is best for you.
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?
Key differences between the brokers
Below, we show only the differences in trading conditions covered in our reviews. These may include the minimum deposit, available markets, platforms and account types. Compare these details with your requirements.
xChief
- Minimum deposit · USD
- 1 USD
- Different platforms
- MetaTrader 5
- Different markets
- None listed
Ultima Markets
- Minimum deposit · USD
- 50 USD
- Different platforms
- WebTrader
- Different markets
- Soft Commodities
- ETF
- Bonds
Comparison Table of xChief and Ultima Markets
Swipe the table left or right to view all data.
| Broker | xChief | Ultima Markets |
|---|---|---|
| Foundation Year | 2014 | 2016 |
| Regulated in Countries | Comoros, South Africa, Kazakhstan | Mauritius, Cyprus |
| Minimum Deposit |
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| 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
- 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
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| Broker | xChief | Ultima Markets |
|---|---|---|
| Reliability | 4/5 | 4.4/5 |
| Foundation Year | 2014 | 2016 |
| Regulated in Countries | Comoros, South Africa, Kazakhstan | Mauritius, Cyprus |
| Regulators |
xChief
xChief’s reliability can be rated as average. The group holds MISA, FSCA, and AFSA licences, but most retail clients are served by the offshore entity XCHIEF LTD, which provides a limited level of protection.
Pros
- The group includes several regulated entities.
- Holds FSCA and AFSA licences.
Cons
- Most retail accounts are regulated by MISA.
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
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| Broker | xChief | Ultima Markets |
|---|---|---|
| Account Opening | 5/5 | 5/5 |
| Minimum Deposit |
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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
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| Broker | xChief | Ultima Markets |
|---|---|---|
| Account Types | 5/5 | 4.7/5 |
| Trading Accounts |
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| Minimum Deposit |
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| 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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| 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
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| 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 1 lot$2.50 | per 1 lot$2.50 |
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
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| 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
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| 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
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| Broker | xChief | Ultima Markets |
|---|---|---|
| Rating | 4/5 | 4/5 |
| Trading Platforms |
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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
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| 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
Swipe the table left or right to view all data.
| 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
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| Broker | xChief | Ultima Markets |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
| Email Support | ||
| Hotline Phones | — | |
| Social Media |
xChief
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
When choosing between Ultima Markets and xChief, match their platforms, markets, account types and funding terms to your needs.
Before opening an account, verify fees, regulation, support and service availability for your country in the sections above.
FAQ
Which broker is better: xChief or Ultima Markets?
Ultima Markets ranks higher than xChief in our editorial ranking. That does not make it a universal choice: compare fees, markets, platforms, account types and support.
Which broker is better for beginners: xChief or Ultima Markets?
Beginners should compare availability in their country, account types, minimum deposit, trading platforms and customer support.
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, 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.
