OANDA 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 - OANDA 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 OANDA.
Ultima Markets scored 4.4/5 and ranks 18 in our all Forex brokers list, whereas OANDA has 4.3/5 and ranks 28.
This is not financial advice. See the full comparison below.
Who is OANDA suitable for?
Oanda is suitable for beginners and experienced traders, thanks to quality analytics and various educational materials.
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 OANDA and Ultima Markets
| Broker | OANDA | Ultima Markets |
|---|---|---|
| Rating | 4.3/5 | 4.4/5 |
| Foundation Year | 2001 | 2016 |
| Regulated in Countries | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland | Mauritius, Cyprus |
| Minimum Deposit |
|
|
| Spread | from 0.5 points | from 0 points |
| Max Leverage | 1:200 | 1:2000 |
| Trading Assets (CFDs) |
|
|
| Trading Platforms |
|
|
| Review | OANDA Review | Ultima Markets Review |
OANDA Review
Oanda is an excellent choice for traders seeking a reliable and regulated broker with competitive spreads and various trading assets.
With quality analytics and diverse educational materials, Oanda suits beginners and experienced traders.
Pros and Cons of OANDA
Pros
- Tight spreads.
- Diverse markets and products.
- Advanced trading platforms.
- Quality analytics.
- Extensive learning section.
Cons
- Limited trading account types.
- Inactivity fee.
- High swaps.
OANDA 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 | OANDA | Ultima Markets |
|---|---|---|
| Reliability | 5/5 | 4.4/5 |
| Foundation Year | 2001 | 2016 |
| Regulated in Countries | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland | Mauritius, Cyprus |
| Regulators | NFA NFA CFTC CFTC ASIC ASIC CIRO CIRO FCA FCA JFSA JFSA BVIFSC BVIFSC MAS MAS KNF KNF | FSC FSC CySEC CySEC |
OANDA
Oanda demonstrates a high level of reliability, evidenced by licenses from the world's leading regulators.
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 | OANDA | Ultima Markets |
|---|---|---|
| Account Opening | 4.5/5 | 5/5 |
| Minimum Deposit |
|
|
OANDA
Oanda offers a straightforward and structured registration process, ensuring convenience for clients.
Pros
- Clearly structured registration process.
- No minimum deposit, offering flexibility for traders.
Cons
- Additional documents may be required in some cases.
- Document verification can take from 1 to 2 working days.
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 | OANDA | Ultima Markets |
|---|---|---|
| Account Types | 3/5 | 4.7/5 |
| Trading Accounts |
|
|
| Minimum Deposit |
|
|
| Spread | from 0.5 points | from 0 points |
| Max Leverage | 1:200 | 1:2000 |
| Trading Assets (CFDs) |
|
|
| Trading Platforms |
|
|
| Demo Account | ||
| Swap-free Account |
OANDA
Oanda provides various trading accounts, but some specialized types are missing.
Pros
- Standard accounts are available.
- Demo accounts are offered.
- Swap Free accounts are available for traders following Islamic principles.
Cons
- Cent accounts are missing.
- No fixed spread accounts.
- No investment accounts are available.
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 | OANDA | Ultima Markets |
|---|---|---|
| Commissions | 3.5/5 | 5/5 |
| Spread | from 0.5 points | from 0 points |
| Average Spread (EURUSD) | 0.8 | 1 |
| Commission per Lot | $2.5 |
OANDA
Oanda's fees are moderate, making this broker competitive.
Pros
- No fees for deposits and withdrawals.
- Low spreads on major currency pairs.
Cons
- Inactivity fee is charged.
- Swaps may be high for some currency pairs.
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 | OANDA | Ultima Markets |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
| Account Funding Methods |
|
|
OANDA
Oanda offers flexible conditions for depositing and withdrawing funds, but payment system commissions and currency conversion costs may apply.
Pros
- The broker does not charge a fee for deposits and withdrawals.
- A wide selection of payment systems is available.
- No restrictions on the amounts of deposits and withdrawals.
Cons
- High commission fees for certain methods by payment systems.
- Withdrawal request processing time may be long.
- Cryptocurrencies are not available as a payment method.
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 | OANDA | Ultima Markets |
|---|---|---|
| Markets and Products | 4.4/5 | 4.5/5 |
| Forex | 48 | 60 |
| Precious Metals | 3 | 9 |
| Energy Carriers | 3 | 7 |
| Soft Commodities | 4 | 7 |
| Indices | 18 | 28 |
| Stocks | 1607 | 86 |
| Cryptocurrency | 18 | 47 |
| ETF | - | 6 |
| Bonds | - | 7 |
OANDA
Oanda offers an extensive set of markets and products, making it a versatile choice for traders of different levels.
Pros
- A wide range of currency pairs.
- A large selection of stocks and indices.
- Access to cryptocurrency trading.
Cons
- Maximum leverage is only up to 1:200.
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 | OANDA | Ultima Markets |
|---|---|---|
| Rating | 5/5 | 4/5 |
| Trading Platforms |
|
|
OANDA
Oanda provides high-quality trading platforms with deep functionality and integration with TradingView.
Pros
- Access to classic platforms MT4 and MT5.
- The fxTrade mobile app with integration with MT5.
- Integration with TradingView.
Cons
- No MetaTrader alternatives for desktop devices.
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 | OANDA | Ultima Markets |
|---|---|---|
| Rating | 5/5 | 4/5 |
OANDA
The Oanda broker's analytical section offers many tools that help traders make informed 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 | OANDA | Ultima Markets |
|---|---|---|
| Rating | 4.5/5 | 1/5 |
OANDA
Oanda provides an extensive range of educational resources, catering to new and experienced traders, focusing on leveraged trading.
Pros
- Comprehensive coverage of fundamental and technical analysis.
- Variety of resources including webinars, workshops, and live market analysis.
- Free access to premium content for live account holders.
Cons
- Some advanced topics may not be covered in depth.
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 | OANDA | Ultima Markets |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
| Email Support |
|
|
| Hotline Phones |
| — |
| Social Media |
Facebook
Twitter
LinkedIn
YouTube
Instagram
TelegramOANDA
Oanda's technical support provides extensive communication options and round-the-clock service, ensuring the professionalism and efficiency of the solutions provided.
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 OANDA and Ultima Markets with other brokers
Conclusion
Ultima Markets stands out as the better overall pick, while OANDA trails on aggregate criteria.
Ultima Markets scored 4.4/5 and ranks 18 in our rating; OANDA has 4.3/5 and ranks 28.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: OANDA or Ultima Markets?
Ultima Markets comes out ahead by overall rank (score 4.4/5, position 18) versus OANDA (score 4.3/5, position 28).
Which broker is better for beginners: OANDA 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) — OANDA 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 OANDA and Ultima Markets?
OANDA: MetaTrader 5, MetaTrader 4, TradingView, fxTrade. Ultima Markets: MetaTrader 4, WebTrader. See the “Platforms” section for details and selection tips.
What markets can you trade with OANDA and Ultima Markets?
OANDA: Forex, Precious Metals, Energy Carriers, Soft Commodities, 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 OANDA and Ultima Markets?
OANDA: Standard, Swap Free. 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 OANDA and Ultima Markets?
OANDA: Skrill, Neteller, Swift, Visa, Mastercard. Ultima Markets: Alipay, Bank Transfer, UnionPay, Visa, Mastercard, Online banking. Check method-specific fees/settlement times.
Which broker is safer — OANDA 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.
