GMG Markets 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 - GMG Markets 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 GMG Markets.
Ultima Markets scored 4.4/5 and ranks 18 in our all Forex brokers list, whereas GMG Markets has 4/5 and ranks 49.
This is not financial advice. See the full comparison below.
Who is GMG Markets suitable for?
GMG Markets suits active Forex traders and scalpers who value FCA regulation, MT5, and low spreads; however, it may feel restrictive for investors and stock enthusiasts.
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 GMG Markets and Ultima Markets
| Broker | GMG Markets | Ultima Markets |
|---|---|---|
| Rating | 4/5 | 4.4/5 |
| Foundation Year | 2015 | 2016 |
| Regulated in Countries | United Kingdom | Mauritius, Cyprus |
| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:30 | 1:2000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | GMG Markets Review | Ultima Markets Review |
GMG Markets Review
GMG Markets is a niche broker primarily designed for active FX traders, scalpers, and algorithmic traders who only need two well-optimized accounts. The MT5 platform provides a comprehensive toolkit for both manual and automated trading, Autochartist supplements basic technical analysis, and 24/5 support responds swiftly and effectively.
This broker is ideal for those who appreciate transparent fees, swift fund withdrawals, and FCA regulation but do not require an extensive product lineup or copy trading services. Novice traders can test the live markets and undergo basic training via webinars, whereas professionals can access leverage up to 1:200 under Pro status. Investors, diversification enthusiasts, or those needing a multitude of platforms and services might be better served by more versatile providers.
Pros and Cons of GMG Markets
Pros
- Robust regulation — FCA license, segregated accounts, FSCS protection.
- Transparent fee structure — Standard account with zero commission, Raw account with zero spreads and fixed fee.
- MT5 + Autochartist — comprehensive desktop, web, and mobile platforms, algorithm support, integrated chart pattern scanner.
- VPS hosting — complimentary with required monthly turnover.
- 24/5 tech support — chat, phone, and e-mail typically respond within minutes.
Cons
- Limited instrument selection — only Forex, a few indices, and commodities.
- Single platform offering — no MT4, cTrader, TradingView, or proprietary web terminal.
- No e-wallets or cryptocurrencies available for transactions.
- Investor services are lacking — no copy trading, PAMM, contests, or comprehensive fundamental analysis.
GMG Markets 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 | GMG Markets | Ultima Markets |
|---|---|---|
| Reliability | 5/5 | 4.4/5 |
| Foundation Year | 2015 | 2016 |
| Regulated in Countries | United Kingdom | Mauritius, Cyprus |
| Regulators | FCA FCA | FSC FSC CySEC CySEC |
GMG Markets
Since 2016 under FCA oversight, GMG Markets holds client funds in segregated accounts and qualifies for FSCS protection.
Pros
- FCA License — Tier-1 regulator
- Funds segregation + FSCS compensation up to £85,000
- STP/NDD model without dealer intervention
Cons
- Single jurisdiction (FCA), no additional licenses
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 | GMG Markets | Ultima Markets |
|---|---|---|
| Account Opening | 5/5 | 5/5 |
| Minimum Deposit |
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GMG Markets
GMG Markets onboarding is quick and efficient: registration takes 5–7 minutes, with verification under 1 business day.
Pros
- Online registration in 5–7 minutes
- Document verification within 1 day
Cons
- Detailed KYC form
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 | GMG Markets | Ultima Markets |
|---|---|---|
| Account Types | 3.8/5 | 4.7/5 |
| Trading Accounts |
|
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| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:30 | 1:2000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
GMG Markets
Only two main accounts — Standard and Raw Spread — cater to basic requirements, but the absence of cent or fixed-spread accounts, copy trading, PAMM, and contest services limits variety.
Pros
- Commission-free Standard, and zero-spread Raw account
- Islamic account and spread-betting options for niche segments
- Complimentary VPS with required turnover
Cons
- No cent/fixed-spread account
- Lack of copy trading, PAMM, contests
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 | GMG Markets | Ultima Markets |
|---|---|---|
| Commissions | 4/5 | 5/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 1.2 | 1 |
| Commission per Lot | $3.5 | $2.5 |
GMG Markets
GMG Markets offers a transparent fee structure: one account includes all charges within the spread, while another charges a small fee with a minimal spread. Deposits and withdrawals are free, no inactivity fee is applied, though swaps are slightly above average.
Pros
- No inactivity fees
- Free deposits and withdrawals
Cons
- Swaps are above average
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 | GMG Markets | Ultima Markets |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
| Account Funding Methods |
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GMG Markets
Card and bank transfers are swift and fee-free, but the absence of e-wallets and cryptocurrencies limits options.
Pros
- Commission-free transactions
- Instant card funding
Cons
- No e-wallets
- No cryptocurrencies
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 | GMG Markets | Ultima Markets |
|---|---|---|
| Markets and Products | 2.5/5 | 4.5/5 |
| Forex | 64 | 60 |
| Precious Metals | 13 | 9 |
| Energy Carriers | 3 | 7 |
| Indices | 17 | 28 |
| Soft Commodities | - | 7 |
| Stocks | - | 86 |
| ETF | - | 6 |
| Bonds | - | 7 |
| Cryptocurrency | - | 47 |
GMG Markets
The instrument range is limited: primarily currency pairs, indices, and commodities; with no stocks, cryptocurrencies, or a broad commodity selection, diversification falls short compared to competitors.
Pros
- 64 currency pairs
- Major indices and metals
Cons
- No CFDs on stocks
- No cryptocurrencies
- Limited commodity selection
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 | GMG Markets | Ultima Markets |
|---|---|---|
| Rating | 3.5/5 | 4/5 |
| Trading Platforms |
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GMG Markets
The sole available platform, MT5, offers rich functionality, but the lack of alternatives reduces flexibility.
Pros
- Fully featured MT5
- Desktop, web, and mobile applications
Cons
- No MT4, cTrader, TradingView
- Essentially a single platform option
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 | GMG Markets | Ultima Markets |
|---|---|---|
| Rating | 3/5 | 4/5 |
GMG Markets
Autochartist and a daily news feed provide basic analysis, but the lack of proprietary research and in-depth fundamental analysis diminishes overall utility.
Pros
- Complimentary Autochartist
- Market news
Cons
- No proprietary research
- Weak fundamental analysis
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 | GMG Markets | Ultima Markets |
|---|---|---|
| Rating | 4/5 | 1/5 |
GMG Markets
The foundational materials (webinars, articles, videos) are sufficient for beginners, but for in-depth learning and advanced coursework, external resources may be needed.
Pros
- Regular free webinars
- Novice-oriented article base
- Recordings available 24/7
Cons
- No advanced courses
- No podcasts or multilingual programs
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 | GMG Markets | Ultima Markets |
|---|---|---|
| Rating | 4.5/5 | 4.5/5 |
| Email Support |
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| Hotline Phones |
| — |
| Social Media |
Facebook
LinkedIn
Telegram
Twitter
InstagramGMG Markets
The broker provides 24/5 support via chat, phone, and e-mail, with responses typically within minutes.
Pros
- Online chat and phone support 24/5
- Rapid response
- Competent representatives
Cons
- No weekend support
- Delays during peak demand
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 GMG Markets and Ultima Markets with other brokers
GMG Markets Comparisons
Conclusion
Ultima Markets stands out as the better overall pick, while GMG Markets trails on aggregate criteria.
Ultima Markets scored 4.4/5 and ranks 18 in our rating; GMG Markets has 4/5 and ranks 49.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: GMG Markets or Ultima Markets?
Ultima Markets comes out ahead by overall rank (score 4.4/5, position 18) versus GMG Markets (score 4/5, position 49).
Which broker is better for beginners: GMG Markets 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) — GMG Markets 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 GMG Markets and Ultima Markets?
GMG Markets: MetaTrader 5. Ultima Markets: MetaTrader 4, WebTrader. See the “Platforms” section for details and selection tips.
What markets can you trade with GMG Markets and Ultima Markets?
GMG Markets: Forex, Precious Metals, Energy Carriers, Indices. 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 GMG Markets and Ultima Markets?
GMG Markets: Standard, RAW Spread. 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 GMG Markets and Ultima Markets?
GMG Markets: Bank Transfer, Visa, Mastercard. Ultima Markets: Alipay, Bank Transfer, UnionPay, Visa, Mastercard, Online banking. Check method-specific fees/settlement times.
Which broker is safer — GMG Markets 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.
