Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Ultima Markets Pros & Cons
- No minimum deposit required for the demo account, with live accounts starting from $50;
- A diverse asset pool spanning seven different groups, allows clients flexibility in trading strategies;
- Three types of live accounts for highly customized options;
- Low spreads starting from 0 pips and reasonable commissions minimize trading costs;
- Accessibility across various devices, including desktops, tablets, and smartphones;
- Basic educational materials, an economic calendar, and a trading calculator facilitate market interaction;
- Round-the-clock technical support via call center, email, and live chat, including weekends.
- The absence of traditional passive income options like copy trading and MAM and PAMM accounts;
- Limited transparency, as this company does not address withdrawal fees;
- Restrictions on residents of certain countries, including China, Romania, Singapore, Malaysia, Iran, and others.
Ultima Markets is a Forex and CFD broker offering a pool of over 250 trading instruments, including currency pairs, precious metals, energy and other commodities, indices, cryptocurrencies, and stock contracts. It provides a free demo account for platform exploration and practice, along with three live account types: Standard, ECN, and ECN Pro. Spreads start from 1 pip on the Standard account and 0 pips on ECN accounts. There is no commission on Standard accounts, while on other accounts, it is $5 or $3 per full lot. This broker offers flexible leverage up to 1:2,000. Ultima Markets claims that all trades are routed through the Equinix NY4 data center, ensuring execution speeds as fast as 20 milliseconds.
TU Expert Verdict
Ultima Markets demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
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Ultima Markets User Reviews
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria8 /10The trading and non-trading commissions of Ultima Markets have been analyzed and rated as having Low fees, with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- Deposit fee applies
- Withdrawal fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Ultima Markets with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Ultima Markets’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Ultima Markets Standard spreads Ultima Markets OANDA FOREX.com EUR/USD min, pips 0.2 0.1 0.7 EUR/USD max, pips 0.4 0.5 1.2 GPB/USD min, pips 0.2 0.1 0.9 GPB/USD max, pips 0.7 0.5 1.4 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
Ultima Markets RAW/ECN spreads Ultima Markets OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 2.50 3.5 5 EUR/USD avg spread 0.10 0.15 0.2 GBP/USD avg spread 0.15 0.2 0.4 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Ultima Markets. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Ultima Markets Non-Trading Fees Ultima Markets OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0-0.5 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0-1 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is Ultima Markets Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria4.2 /10Ultima Markets has a safety score of 4.2/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Not tier-1 regulated
Ultima Markets Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level 
SVG FSA Full Name Financial Services Authority of St. Vincent and the Grenadines Country of regulation St. Vincent and the Grenadines Investor Protection Fund No specific fund Regulation Level Tier-3 Ultima Markets Security Factors Foundation date 2021 Negative balance protection NoVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.5 /10Ultima Markets offers the following account options: Demo, Standard, ECN/Raw spread.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Demo account
- Tight spread ECN account
- Low minimum deposit
- No Cent account
- No VIP account option
Ultima Markets account types vs top competitors Ultima Markets Plus500 Trading.com Standard YesYesYesECN/Raw spread YesNoNoDemo YesYesYesCent NoNoNoMicro NoNoNoSwap Free NoNoNoVIP NoNoNoManaged NoNoNoUltima Markets accounts trading conditions
Typically, when a broker provides various account types, traders need to take time to select the one that suits them best. In the case of Ultima Markets, the Standard account is the most versatile option. It comes with no trading fee, and the variable spread starts from 1 pip. To open a Standard account, you only need $50. For the ECN account, a $500 deposit is required, offering raw spreads starting from 0 pips but with a fee of $5 per full lot, which is in line with industry standards. The ECN Pro account offers a lower fee of $3 per lot and also has raw spreads starting from 0 pips, but it necessitates a substantial initial deposit of $20,000. Therefore, when choosing an account, traders should consider their preferred trading strategies, goals, and financial capacity.
Account types:
Account Type Description Demo This account mirrors the functions of a Standard account but involves trading with virtual currency; Standard Starting with a $50 deposit, it provides spreads from 1 pip and does not charge any fees. It offers access to all assets and leverage up to 1:2,000; ECN It requires a $500 deposit and offers spreads from 0 pips with a $5 per lot fee. There are no limitations on trading styles and methods; ECN Pro With a minimum deposit of $20,000, it features spreads from 0 pips and a lower fee of $3 per lot. Users can choose from two trading platforms. For traders new to this broker, it is advisable to begin with a demo account. This allows for an exploration of the platform's capabilities and the refinement of trading strategies without any financial risks. Afterward, users can opt for one of the live accounts, deposit funds, and engage in full-fledged trading.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology8 /10Ultima Markets received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
Ultima Markets provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Bitcoin (BTC) accepted
- Supports 5+ base account currencies
- Minimum deposit below industry average
- Low minimum withdrawal requirement
- BTC not available as a base account currency
- Withdrawal fee applies
- Limited deposit and withdrawal flexibility, leading to higher costs
What are Ultima Markets deposit and withdrawal options?
Ultima Markets provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum.
Ultima Markets Deposit and Withdrawal Methods vs Competitors Ultima Markets Plus500 Trading.com Bank Wire YesYesYesBank card YesYesYesPayPal NoYesNoWise NoNoNoBTC YesNoNoWhat are Ultima Markets base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. Ultima Markets supports the following base account currencies: USD, EUR, GBP, JPY, AUD, CAD, NZD, SGD, HKD.
What are Ultima Markets's minimum deposit and withdrawal amounts?
The minimum deposit on Ultima Markets is $500, while the minimum withdrawal amount is $40. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Ultima Markets’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria7.5 /10Ultima Markets offers a limited selection of trading assets compared to the market average. The platform supports 500 assets in total, including 80 Forex pairs.
- Indices trading
- Copy trading platform
- 500 assets for trading
- Bonds not available
- Futures not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by Ultima Markets with its competitors, making it easier for you to find the perfect fit.
Ultima Markets Plus500 Trading.com Currency pairs 80 60 69 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 500 2800 69 Stocks YesYesNoCommodity futures YesYesNoCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. NoYesNoStock indices YesYesNoOptions NoYesNoInvestment options
We also explored the trading assets and products Ultima Markets offers for beginner traders and investors who prefer not to engage in active trading.
Ultima Markets Plus500 Trading.com Bonds NoNoNoETFs NoYesNoCopy trading YesNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at Ultima Markets by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.6 /10We successfully registered an account with Ultima Markets in 20 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at Ultima Markets is $500. The onboarding procedure works as expected, although there is room for improvement in speed and simplicity.
- Low minimum deposit requirement
- Fully online account opening process
- Registration process may take longer than expected
- Account approval may require extra time depending on the documentation.
Ultima Markets account opening Ultima Markets Plus500 Trading.com Online Registration YesYesYesMinimum deposit $500 $100 $50 Mandatory KYC YesYesYesRegistration time (min) 20 20 KYC time (days) 2 3 2 Is Ultima Markets available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
To initiate collaboration with Ultima Markets, register on their official website and complete the verification process. Following that, you can open a user account, fund it, download the trading platform, and begin making trades. TU experts have compiled the below step-by-step guide on the registration process to assist you. Additionally, the TU team will provide a brief overview of additional features in the user account.
Visit this broker's website. Choose your preferred language from the top of the screen. In the upper right corner, click the "Register" button.
Enter your first and last name. Select your country of residence. Provide your phone number and email address. Choose the account type — individual or corporate. Click "Open a user account”.
For the initial registration step, input additional details such as your salutation, birthdate, birthplace, and nationality. Choose a document from the provided list for identity verification and enter its number. If you possess dual citizenship, mark the appropriate checkbox. Proceed by clicking “Next”.
Specify your residence and complete address. Check the corresponding option if you are a U.S. citizen. Click “Next".
Answer a few questions about your financial capabilities and trading experience. This broker requires these answers for statistical purposes, and they will not affect anything. Click “Next".
Select the trading platform (only MT4) and the account type — standard or ECN. Then specify the account currency, which is available in USD, GBP, CAD, AUD, EUR, SGD, NZD, HKD, and JPY. Agree to the terms of cooperation by checking the box at the bottom. Click “Next".
Upload scans/photos of the documents confirming your identity and residency. Pay attention to the comments. Click “Next".
Wait for the verification process to complete. Once specialists confirm the authenticity of the documents you provided, you will receive a notification by email, and you will be able to access all the platform's functions.
Click "Deposit funds now". Choose the deposit method. Please note that deposit methods may vary depending on your region. Then, follow the on-screen instructions.
Visit the "Downloads" section, where you can download the suitable version of the trading platform and install it on your device. For convenient account management, you also have the option to download this broker's mobile application. Once you've done this, launch the trading platform, input your registration details, and begin trading.
Functions of the Ultima Markets user account:
- Home Page. This section allows traders to access summarized information regarding their active accounts and ongoing trades;
- Accounts. Within this segment, users can initiate or terminate both user and demo accounts;
- Funds. In this area, traders can conduct financial transactions, including deposits, withdrawals, and internal transfers;
- Profile. This block is dedicated to personal information updates and security settings;
- Downloads. Traders are provided with the option to download the MT4 trading platform and this broker's proprietary mobile application.
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Customer Support
Score:We evaluated Customer Support at Ultima Markets by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria5 /10Customer support at Ultima Markets is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. Ultima Markets provides basic support functionality but does not stand out in overall service performance.
InformationCan you deposit funds from a Visa card while in Europe? What are the withdrawal costs for a U.S. resident with a bank account? Are there any trading restrictions? Traders often have various inquiries. Sometimes, they encounter genuine issues or unique situations, but more frequently, it's a simple misunderstanding stemming from a lack of transparency on the platform and minimal information regarding the terms of collaboration. In any event, users often reach out to technical support. Their ongoing relationship with the broker hinges on receiving prompt solutions to their queries. However, if technical support is slow to respond or lacks competence, traders might grow disheartened and consider switching to a competitor. To prevent this, Ultima Markets provides three communication channels, which are phone, email, and live chat. All are operational around the clock, seven days a week.
- Three contact options are available: phone, live chat, and email
- Managers are available 24/7
- Technical support is competent and responds quickly
- During peak hours, the call center is often overloaded
Are you currently engaged with Ultima Markets or contemplating becoming its client? Regardless of your status, if you encounter a problem or have a question, don't hesitate to contact technical support. It's accessible even for those who haven't yet registered. Here are the available contact channels:
- Call center;
- Email;
- Live chat on their website and in the user account.
Additionally, there's a chat feature in the mobile app. This broker maintains a presence on various social platforms, including LinkedIn, Facebook, X (formerly Twitter), and Instagram. You can also reach out to their technical support managers through these channels. Following this company's profiles is advisable to be apprised of their notifications.
Contacts Foundation date 2021 Registration address 1st Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines Regulation SVGFSA Licence number:
26330Official site https://www.ultimarkets.com/ Contacts info@ultimarkets.com +1 784 485 6124
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FAQs
How is Ultima Markets regulated and what does its safety score indicate?
Ultima Markets is regulated by the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA), which is classified as a Tier-3 regulator and does not provide a specific investor protection fund. The broker has a safety score of 4.2/10, indicating a low security level in this review, and it does not offer negative balance protection. The company was founded in 2021 and requires KYC verification, while the absence of Tier-1 regulation may be associated with higher regulatory risk compared with brokers overseen by stricter authorities.
What types of trading accounts are available at Ultima Markets and what are their key conditions?
Ultima Markets offers Demo, Standard, ECN, and ECN Pro accounts, but does not provide Cent or micro-lot accounts, and there is no swap-free, VIP, or managed account option. The Standard account starts from a $50 deposit with variable spreads from 1 pip and no trading fee, while the ECN account requires $500 with raw spreads from 0 pips and a $5 per lot fee. The ECN Pro account has a $20,000 minimum deposit, raw spreads from 0 pips, and a lower $3 per lot fee, and users can choose between two trading platforms.
What do user reviews and feedback indicate about Ultima Markets overall experience?
Ultima Markets has a user satisfaction score of 7/10 based on 2 reviews, with 50% of ratings at 4 stars and 50% at 3 stars, and no 5-star, 2-star, or 1-star ratings. This distribution suggests a mixed but moderately positive experience among the small number of reviewers. According to user reviews, opinions are varied rather than strongly favorable or strongly critical.
What deposit and withdrawal methods and limits does Ultima Markets offer?
Ultima Markets supports deposits and withdrawals via bank cards, bank wire, Skrill, Neteller, BTC, USDT, and Ethereum, and it offers more than five base account currencies including USD, EUR, GBP, JPY, AUD, CAD, NZD, SGD, and HKD. The broker has a minimum deposit of $500 and a minimum withdrawal of $40, though these may vary by account type and payment method, and a deposit fee applies with some limitations that can increase overall costs. Wise and PayPal are not supported according to this section.
What markets and tradable assets are available at Ultima Markets and what do reviews and comments highlight about its offering?
Ultima Markets provides access to 500 tradable assets, including 80 currency pairs, as well as stocks, commodity futures, and stock indices, but it does not offer crypto, ETFs, options, bonds, PAMM investing, or managed accounts. The broker also supports a copy trading platform, which is listed as an advantage for those interested in following other traders. User-oriented reviews or comments about specific instruments are not detailed in this section, so individual asset-level feedback is not specified.
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