Ultima Markets review and ratings

Established 2016
Location Cyprus Mauritius
Regulation CySEC, FSC
Offices Limassol, Ebene
Broker type STP | ECN
Leverage up to 1:2000 (1:30 for EU clients)
Deposit from 50 USD
Spreads low  low
Platforms Web MetaTrader 4 Specific
Instruments Currencies Crypto Indices Metals Energies Softs Stocks Bonds
Funding methods Wire Transfer Credit Cards UnionPay Bitcoin Tether Alipay

Company information

Ultima Markets group includes 2 related companies.

Ultima Markets CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
Ultima Markets MU - located in Mauritius, regulated by the Financial Services Commission (FSC).

Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.


Ultima Markets group accepts clients from all over the world, excluding USA and most high-risk countries from the FATF grey list.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

60+ Currency Pairs Based on major and minor world currencies.
40+ Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Chainlink, Cardano, Polkadot, Dogecoin, Filecoin, Delysium, Algorand, Avalanche, Axie Infinity, Iota, Loopring, Maker, BNB, NEO, EOS and many more.
17 Indice CFDs Based on baskets of different blue-chip stocks, US Dollar Index and Volatility Index.
5 Metal CFDs Based on Gold, Silver, Platinum, Palladium and Copper.
4 Energy CFDs Based on Crude Oil (WTI, Brent), Gasoil and Natural Gas.
7 Soft CFDs Based on Cocoa, Coffee, Cotton, Orange Juice, Soybean, Sugar, Wheat.
7 Bond CFDs Based on European (mainly German) government securities.
70+ Stock CFDs Based on shares of US and EU companies.

Comprehensive review

Ultima Markets is a forex broker with a pretty long track record, having been active in the industry since 2016. The broker is today registered offshore in Mauritius and in Cyprus. As is often the case with forex brokers, the Cyprus branch is used to serve EU-based clients, while the offshore branch serves clients from most other regions of the world.

Given that Ultima Markets has two separate branches that cater to EU and non-EU clients, the specific trading conditions that are offered also differ quite a bit. For example, clients in the EU who use the website ultimamarkets.eu can get a maximum leverage of just 1:30, while those trading with the Mauritius branch on ultimatemarkets.com can get leverage as high as 1:2,000.

One area where Ultima Markets certainly does not disappoint is its selection of trading instruments. With more than 60 forex pairs, 40 cryptocurrency pairs, a large selection of major equity indices, commodities, government bonds, and single stocks from more than 70 companies listed in Europe and the US, there is definitely something for everyone.

All of the assets offered by Ultima Markets are traded as contracts-for-difference, which is a type of derivative that tracks the price of the underlying asset without giving actual ownership of it. However, this also makes it extremely easy to do things like going short the asset, and to gain significant market exposure with the help of leverage.

In terms of trading platforms, Ultima Markets relies mainly on the well-known MetaTrader 4 (MT4) platform, which is available as a downloadable version for Mac and Windows, as well as in a web version. In addition, the broker has developed its own mobile trading platform which it refers to both as the Ultima Markets App and Match-Trader. The app is available for Apple and Android devices, and offers a very simple and intuitive way to trade the broker's full selection of instruments on the go and from anywhere.

Like most other forex brokers, Ultima Markets offers its clients a range of different account types depending on the client's trading style.

For traders based outside of the EU, the available account types are:
– Standard Account, with spreads from 1 pip, no commissions and a $50 minimum deposit
– ECN Account, with spreads from 0 pips, commissions of $5 and a $50 minimum deposit
– Pro ECN Account, with spreads from 0 pips, commissions of $3 and a $20,000 minimum deposit

For traders in the EU, there are only two account types, both with a higher minimum deposit than the international accounts:
– Standard Account, with spreads from 0.1 pips, no commissions and a $500 minimum deposit
– ECN Account, with spreads from 0 pips, commissions of $5 and a $500 minimum deposit

To fund a trading account, clients outside the EU can use the cryptocurrencies Bitcoin (BTC) and Tether (USDT), as well as traditional methods such as bank cards and international bank wire transfer. For Chinese traders, local payment methods such as UnionPay and AliPay are accepted, while traders in Vietnam, Thailand, Malaysia and Indonesia can fund their account by making local bank transfers in their own national currency.

In the EU, Ultima Markets clients are limited to fund their accounts with European SEPA transfers or regular international bank transfers.

All customer deposits are accepted free of charge by Ultima Markets, and payments from most payment methods will be credited to the account in a timely manner.

All in all, we see Ultima Markets as a respectable forex broker that could be interesting to look into. It is probably especially interesting for traders based in South East Asia where local bank transfers can be used for funding, given that these traders can also enjoy the super high leverage and access to a wide range of instruments.

For traders in the EU, however, the offering may not be so interesting given that there are many other locally regulated forex brokers that also offer competitive pricing on trading.

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