Ultima Markets Overall rating
| Rating | Weight | |
| User Rating |
4.0 (3 reviews)
 |
3 |
| Popularity |
3.5
|
3 |
| Regulation |
5.0
|
2 |
| Pricing rating |
4.4
|
1 |
| Features |
Not rated
|
1 |
| Customer Support |
Not rated
|
1 |
Ultima Markets is a well-regarded broker with a popularity rating of 3.5 out of 5 (as of September 5, 2024), offering a wide range of instruments. Its high leverage options, competitive spreads, and favorable swap rates make it attractive to traders, though the lack of public financial transparency and user reviews may be a drawback for some. With strong regulatory oversight from CySEC and MU FSC, Ultima Markets is a solid option, especially for traders seeking high leverage and diverse trading instruments.
Pros
- Popularity rating of 3.5 out of 5
- Diverse instruments, including ETFs, Bonds, and Futures
- MT4 available for Desktop, Mobile, and Web
- High leverage options up to 2000:1 for retail clients in Mauritius
Cons
- No user reviews available
- Not licensed as a bank
- Financial data not publicly disclosed
We tested Ultima Markets using real-money live accounts. Our reviews are unbiased, relying purely on live testing, regulatory data, and customer feedback. We list all brokers independently of any financial incentive, although visibility enhancements are available for a fee. Read our About Us page for more details.
Ultima Markets Profile
| Company Name | Ultima Markets Ltd |
| Categories | Forex Brokers, Forex Rebates, Cryptocurrency Rebates |
| Primary Category | Forex Brokers |
| Year Founded | 2016 |
| Headquarters | Cyprus |
| Office Locations | Australia, Cyprus, Mauritius, Malaysia, Singapore, Taiwan |
| Account Currency | AUD, CAD, EUR, GBP, JPY, NZD, SGD, USD, HKD |
| Support Languages | Arabic, Chinese, English, French, German, Indonesian, Italian, Japanese, Malay, Spanish, Thai, Vietnamese, Chinese (Traditional) |
| Funding Methods | Bank Wire, Bitcoin, China Union Pay, Credit Card, Alipay, Tether (USDT) |
| Financial Instruments | Futures, Forex, Indices, Bonds, Oil/Energies, Cryptocurrencies, Metals, ETFs, Soft Commodities (coffee, sugar...) |
| Prohibited Countries | Afghanistan, Albania, American Samoa, Australia, Bosnia and Herzegovina, Burundi, Bermuda, Belarus, Central African Republic, Congo, Ivory Coast, Cuba, Cyprus, Eritrea, Guam, Guinea Bissau, Haiti, Iraq, Iran, North Korea, Lebanon, Macedonia, Mali, Puerto Rico, Russia, Sudan, Singapore, Sierra Leone, Somalia, Syria, United States, Virgin Islands, U.s., Yemen, Yugoslavia, Zimbabwe, Montenegro |
24 hour support
Segregated Accounts
Islamic Accounts
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo
Trading API
Cent accounts
Negative balance protection
Social trading
Regulatory deposit insurance
Trailing stops
Bonuses
Interest on margin
Fixed spread
Variable spread
Trustworthiness & Regulation
Founded in 2016, Ultima Markets operates under the Mauritius Financial Services Commission (MU FSC) and the Cyprus Securities and Exchange Commission (CY CySEC). Despite being a relatively new player, it has achieved a popularity rating of 3.5 out of 5 and ranks 166th among 815 brokers. Experts rank it higher at 67th, indicating strong growth in user activity.
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
| Ultima Markets Cyprus Ltd |
|
up to €20,000
|
|
|
30 : 1 | |
| Ultima Markets |
|
|
|
|
2000 : 1 |
Deposit Insurance
Clients under the Cyprus CySEC regulation are protected by a deposit compensation scheme, providing insurance in case of firm failure. Mauritius clients lack this compensation but benefit from segregated client funds, ensuring deposits are not used for operational purposes.
Ultima Markets Account types
Standard
ECN
Commission - $5.00 Per Lot Maximum leverage 2000:1 Mobile Platform MT4 Mobile, Proprietary Trading platform MT4, WebTrader, Proprietary Spread Type Variable Spread Minimum Deposit 50 Minimum Trade Size 0.01 Trailing Stops Scalping Allowed Hedging Allowed Islamic Accounts
Standard
Maximum leverage
2000:1
Trading platform
MT4WebTraderProprietary
Mobile platform
MT4 MobileProprietary
Spread type
Variable Spread
Minimum deposit
50
Minimum Trade Size
0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts
ECN
Commission
$5.00 Per Lot
Maximum leverage
2000:1
Trading platform
MT4WebTraderProprietary
Mobile platform
MT4 MobileProprietary
Spread type
Variable Spread
Minimum deposit
50
Minimum Trade Size
0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts
Spreads and Costs
Ultima Markets offers competitive spreads on various asset classes. The average Forex spread is 2.09 pips, slightly higher than IC Markets' 1.54 pips but in line with industry standards.
Combined Spread/Commission Costs by Asset Class Compared to Market-Leading Brokers
| Broker - Account Type | Crypto Average | Forex Average | Indices Average | Commodities Average |
|---|---|---|---|---|
| Ultima Markets – Standard | 7.60 | 2.09 | - | 0.11 |
| Exness – Standard | 22.64 | 2.22 | 7.07 | 0.12 |
| IC Markets – Standard | 9.10 | 1.54 | 1.12 | 0.10 |
| ThinkMarkets – Standard | 16.89 | 2.06 | 1.59 | 0.14 |
| Admirals – Trade | - | 2.65 | - | 0.19 |
| Oanda – Standard | 39.00 | 0.75 | - | - |
| Forex.com – Standard | - | 3.05 | - | - |
Swap Rates/Financing Fees
Ultima Markets provides competitive swap rates, especially for USDJPY and XAUUSD, making it cost-effective for traders holding positions overnight. Compared to competitors, its rates are often more favorable.
| Broker | Best | Average | NZDUSD Swap Short | NZDUSD Swap Long | USDJPY Swap Short | USDJPY Swap Long | XAUUSD Swap Short | XAUUSD Swap Long |
|---|---|---|---|---|---|---|---|---|
| Ultima Markets | Best | -2.16 | -0.22 | -0.22 | -2.80 | 1.07 | 20.00 | -30.80 |
| Exness | - | -6.71 | -0.09 | -0.07 | -2.89 | 0.00 | 0.00 | -37.21 |
| IC Markets | - | -2.27 | -0.10 | -0.14 | -2.59 | 1.25 | 20.78 | -32.84 |
| ThinkMarkets | - | -3.27 | -0.14 | -0.14 | -2.61 | 1.08 | 19.57 | -37.37 |
| Admirals | - | -5.93 | - | - | - | - | 1.43 | -31.59 |
| Oanda | - | - | 0.00 | 0.00 | 15.00 | 0.09 | 0.00 | 0.00 |
| Forex.com | - | - | 0.00 | 0.00 | 0.00 | 0.00 | - | - |
Islamic/Swap-Free Accounts
Ultima Markets offers Islamic accounts for clients who wish to avoid interest payments due to religious beliefs. These accounts eliminate swap fees on overnight positions, maintaining compliance with Sharia law.
Other Fees
Withdrawal fees vary by payment method, and inactivity fees apply after a specific period of dormancy. Check the official website for the latest updates.
Comparison to Other Brokers
Ultima Markets competes well with leading brokers like IC Markets and Exness, especially with its high leverage and favorable swap rates. However, it lacks public financial transparency and user reviews, which could be a concern for cautious traders.
Trading Platforms
Ultima Markets offers MetaTrader 4 and its own mobile app. MT4 is known for its advanced charting tools and automation, while the mobile app provides a streamlined experience but lacks automated trading capabilities.
Available Instruments
Ultima Markets offers over 250 instruments, including Forex, Crypto, Stocks, Commodities, and more, enabling diverse trading opportunities. Note that all trading involves CFDs.
| Asset Class | Number of Instruments |
|---|---|
| Forex CFD | 60+ |
| Crypto CFD | 25+ |
| Stock CFD | 120+ |
| Stock Index CFD | 19 |
| Commodities CFD | 10 |
| ETFs | 6 |
| Bond CFD | 7 |
| Futures CFD | 21 |
Leverage
Leverage can reach up to 2000:1 for Mauritius-based clients and 30:1 for those under the CySEC regulation. High leverage offers the potential for increased gains but also higher risks.
Prohibited Countries
Ultima Markets does not serve clients in countries like the United States and Canada, among others. Prospective clients should verify their eligibility on the broker's official site.
Education
Ultima Markets offers a range of educational resources, including webinars, trading tutorials, and market analysis. These resources are designed to help both beginners and advanced traders enhance their knowledge and skills in financial markets.
Promotions
Current promotions include a welcome bonus for new clients and referral incentives. It's recommended to check the website for the latest offers as these may vary by region and account type.
Ultima Markets User Rating
Ultima Markets reviews by verified customers, cashback rebates, expert ratings, spreads & fees, leverage, demo accounts, downloads, trading platforms and more.
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Ultima Markets Cashback rebates
| Standard | ECN | |
| Forex | 0.48 Pips | $1.2 Per Lot |
| Oil / Energies | $4.8 Per Lot | $1.2 Per Lot |
| Metals | Gold $4.8 Per Lot | Gold $1.2 Per Lot |
| Shares / Equities | $30 Per 1 Million USD Traded | $9.0 Per 1 Million USD Traded |
| Indices | $30 Per 1 Million USD Traded | $9.0 Per 1 Million USD Traded |
| Soft commodities (coffee,sugar...) | $30 Per 1 Million USD Traded | $9.0 Per 1 Million USD Traded |
| Cryptocurrencies | $48 Per 1 Million USD Traded | $18 Per 1 Million USD Traded |
| Payment Options |
Monthly Cash Back
| |
| Standard | |
| Forex | 0.48 Pips |
| Oil / Energies | $4.8 Per Lot |
| Metals | Gold $4.8 Per Lot |
| Shares / Equities | $30 Per 1 Million USD Traded |
| Indices | $30 Per 1 Million USD Traded |
| Soft commodities (coffee,sugar...) | $30 Per 1 Million USD Traded |
| Cryptocurrencies | $48 Per 1 Million USD Traded |
| Payment Options |
Monthly Cash Back
|
| ECN | |
| Forex | $1.2 Per Lot |
| Oil / Energies | $1.2 Per Lot |
| Metals | Gold $1.2 Per Lot |
| Shares / Equities | $9.0 Per 1 Million USD Traded |
| Indices | $9.0 Per 1 Million USD Traded |
| Soft commodities (coffee,sugar...) | $9.0 Per 1 Million USD Traded |
| Cryptocurrencies | $18 Per 1 Million USD Traded |
| Payment Options |
Monthly Cash Back
|
What are Ultima Markets rebates?
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
How do Ultima Markets rebates work?
When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.
How much Ultima Markets rebates can I earn?
Are Ultima Markets rebates a scam; do my spreads increase?
When working with a trustworthy rebate provider, there is no ‘catch’. It is more beneficial to a trader’s financial position to work with a rebate provider than solely with the forex broker.
Are there any other benefits to signing up for Ultima Markets rebates?
How are forex rebates paid?
Because we deal with so many traders in so many different countries and serve 23 languages we have to cover a wide array of options. Here’s what we offer:
Forex rebate options vary per broker:
| Monthly cash back | Payments are credited and sent automatically by the 12 of the month following the month rebates are earned in. |
| Spread or commission reduction | The trader actually receives reduced commissions and/or spreads. This is an exciting option offered by some of our top brokers. |
| Paid direct to brokerage account | Cashback is credited directly to the trader’s brokerage account, typically between 1-7 days after the trade is closed. This is another exciting options offered by some of our top brokers. |
In the case of the ‘Monthly cash back’ rebate option, monthly payments can be paid via bank wire, Paypal, Skrill, Sticpay, China Unionpay, and Neteller. Some payment methods such as bank wire carries fees and often traders set a custom minimum payment amount in order to accumulate rebates and withdraw their rebates less often than monthly.
Ultima Markets Regulation / Money Protection
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
| Ultima Markets Cyprus Ltd |
|
up to €20,000
|
|
|
30 : 1 | |
| Ultima Markets |
|
|
|
|
2000 : 1 |
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