FXOpen 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 - FXOpen 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 FXOpen.
Ultima Markets scored 4.4/5 and ranks 19 in our all Forex brokers list, whereas FXOpen has 4.3/5 and ranks 30.
This is not financial advice. See the full comparison below.
Who is FXOpen suitable for?
Broker FXOpen is suitable for professional traders and scalping enthusiasts but may not be ideal for beginners due to the lack of training.
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 FXOpen and Ultima Markets
| Broker | FXOpen | Ultima Markets |
|---|---|---|
| Rating | 4.3/5 | 4.4/5 |
| Foundation Year | 2004 | 2016 |
| Regulated in Countries | United Kingdom, Cyprus, Australia | Mauritius, Cyprus |
| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:500 | 1:2000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | FXOpen Review | Ultima Markets Review |
FXOpen Review
FXOpen is a highly regulated broker with licenses from leading international bodies, which guarantees the safety of investments and compliance with strict standards. The broker offers a wide range of trading instruments, allowing traders to diversify their portfolios. Low spreads and commissions make FXOpen an attractive choice for those looking for a cost-effective trading environment. The availability of various platforms gives traders the flexibility to choose a trading instrument.
FXOpen is ideal for experienced traders who can analyze the market independently and make informed trading decisions without significant educational support. The broker is especially attractive to those who seek variety in trading tools and prefer to use advanced trading platforms.
Pros and Cons of FXOpen
Pros
- Wide range of trading assets.
- Low spreads and commissions.
- Support for various trading platforms.
Cons
- Lack of educational materials.
FXOpen 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 | FXOpen | Ultima Markets |
|---|---|---|
| Reliability | 5/5 | 4.4/5 |
| Foundation Year | 2004 | 2016 |
| Regulated in Countries | United Kingdom, Cyprus, Australia | Mauritius, Cyprus |
| Regulators |
FXOpen
FxOpen is a reliable and regulated broker, licensed in many countries, ensuring the safety of funds and a high standard of services.
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 | FXOpen | Ultima Markets |
|---|---|---|
| Account Opening | 5/5 | 5/5 |
| Minimum Deposit |
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FXOpen
FxOpen provides a simple and convenient account opening process, with an emphasis on security and compliance with regulatory requirements.
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 | FXOpen | 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 | 1:500 | 1:2000 |
| Trading Assets (CFDs) |
|
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
FXOpen
FxOpen offers a wide selection of trading accounts and additional services.
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 | FXOpen | Ultima Markets |
|---|---|---|
| Commissions | 3/5 | 5/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 1.2 | 1 |
| Commission per Lot | $3.5 | $2.5 |
FXOpen
FxOpen's commissions are average in the market, with competitive spreads, but high swap rates and inactivity fees.
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 | FXOpen | Ultima Markets |
|---|---|---|
| Rating | 4.2/5 | 4.5/5 |
| Account Funding Methods |
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FXOpen
FxOpen offers a variety of deposit and withdrawal methods.
Pros
- A large selection of payment systems and cryptocurrencies.
- Fast processing of withdrawal requests.
Cons
- No bank transfer option.
- High commissions for credit cards from the provider.
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 | FXOpen | Ultima Markets |
|---|---|---|
| Markets and Products | 4.6/5 | 4.5/5 |
| Forex | 66 | 60 |
| Precious Metals | 3 | 9 |
| Energy Carriers | 3 | 7 |
| Indices | 12 | 28 |
| Stocks | 553 | 86 |
| ETF | 56 | 6 |
| Cryptocurrency | 41 | 47 |
| Soft Commodities | - | 7 |
| Bonds | - | 7 |
FXOpen
FxOpen offers a good selection of assets but without soft commodities.
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 | FXOpen | Ultima Markets |
|---|---|---|
| Rating | 5/5 | 4/5 |
| Trading Platforms |
|
|
FXOpen
FXOpen offers a wide range of trading platforms, catering to different types of traders.
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 | FXOpen | Ultima Markets |
|---|---|---|
| Rating | 4/5 | 4/5 |
FXOpen
FXOpen provides a solid package of analytical tools, offering traders valuable resources for making trading decisions.
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 | FXOpen | Ultima Markets |
|---|---|---|
| Rating | 2/5 | 1/5 |
FXOpen
FXOpen invests little in trader education, offering only basic articles and a glossary of terms.
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 | FXOpen | Ultima Markets |
|---|---|---|
| Rating | 4.5/5 | 4.5/5 |
| Email Support |
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| Hotline Phones |
| — |
| Social Media |
YouTube
Facebook
Twitter
Telegram
LinkedIn
Whatsapp
InstagramFXOpen
FXOpen offers reliable support, and a variety of communication channels adds flexibility.
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 FXOpen and Ultima Markets with other brokers
Conclusion
Ultima Markets stands out as the better overall pick, while FXOpen trails on aggregate criteria.
Ultima Markets scored 4.4/5 and ranks 19 in our rating; FXOpen has 4.3/5 and ranks 30.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: FXOpen or Ultima Markets?
Ultima Markets comes out ahead by overall rank (score 4.4/5, position 19) versus FXOpen (score 4.3/5, position 30).
Which broker is better for beginners: FXOpen 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) — FXOpen 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 FXOpen and Ultima Markets?
FXOpen: MetaTrader 4, MetaTrader 5, TickTrader, TradingView. Ultima Markets: MetaTrader 4, WebTrader. See the “Platforms” section for details and selection tips.
What markets can you trade with FXOpen and Ultima Markets?
FXOpen: Forex, Precious Metals, Energy Carriers, Indices, Stocks, ETF, 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 FXOpen and Ultima Markets?
FXOpen: STP, ECN, Micro, Crypto. 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 FXOpen and Ultima Markets?
FXOpen: WebMoney, Volet, FasaPay, Visa, Mastercard, JCB, Discover. Ultima Markets: Alipay, Bank Transfer, UnionPay, Visa, Mastercard, Online banking. Check method-specific fees/settlement times.
Which broker is safer — FXOpen 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.
