Ultima Markets Broker Review
Is Ultima Markets Legit?
!! Regulator Warning !!
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
They are very beginner friendly but the minimum deposit is on the high side. Still a good broker and definitely underrated
Ultima Markets works well here in Malaysia & they support deposits in Malaysian currency from Malaysian payment methods
They always delay my withdrawals and their minimum withdrawal is too high
Ultima Markets is a regulated forex broker with spreads from 1 pip & $50 minimum deposit
| 👨 Broker | Ultima Markets LTD |
| 👨 Trading Name | Ultima Markets |
| 👨 Accepts Aussie Traders? | Yes |
| 👨 Accepts Malaysian Traders? | Yes |
| 👨 Accepts Indonesian Traders? | Yes |
| 📅 Year Founded | 2016 |
| ⚖ Regulators | FSC Mauritius |
| ⚖ License No. | GB 23201593 |
| ⚖ Investor Protection | No |
| 💰 Minimum Deposit | $50 |
| 💰 Minimum Withdrawal | $40 |
| 📈 Ways to Trade | CFD |
| 📈 CFD Instruments | Forex, Stocks, Indices, Commodities, Bonds |
| 🚀Leverage | 1:2000 |
| 🔎Auditors | |
| 💻 Platforms | MT4, MT5, Ultima Markets Mobile App, Ultima Web Terminal |
| 📋Account Types | Cent, Standard, ECN |
| 💱Account Currency | USD |
| 📞Live Support | 24/7 |
| 🏖️ Inactivity Fee | $0 |
| 😭CFD Traders Who Lose Money | |
| ✅Reason To Trade | |
| ❌Reason To Avoid |
Regulation - 5/10
Ultima Markets is regulated by the FSC Mauritius, and FSCA South Africa and these regulators are not considered first class in the industry.
Ultima Markets says they offer investor protection up to $1m per account.
Ultima Markets Funding & Withdrawal - 5/10
Minimum Deposit
Ultima Markets minimum deposit is $50 USD for most of their deposit methods.
Minimum Withdrawal
Ultima Markets minimum withdrawal is $40 USD.
Withdrawal Time
Crypto withdrawals are instant but other withdrawal methods take 2-5 working days.
Funding Methods
- Visa Card
- MasterCard
- Bitcoin
- Tether
- AliPay (unavailable for withdrawal, use unionpay to withdraw)
- Wire Transfer
- China UnionPay - $200 minimum deposit
- Vietnam Banks
- Thailland Banks
- Malaysian Banks
- Indian Banks
Account Types - 10/10
1. Standard Cent
This account is a spread-only account where trading is restricted to micro lots only. It comes in US Cent display currency & is ideal of for beginners.
2. ECN Cent
This account also restricts your trading to micro lot sizes, comes in US Cent display currency. It offers lower spread than the Standard Cent account, but you must also pay a fixed commission per trade.
3. Standard Account
This account has no lot size restrictions so you can trade standard lots. It has a spread-only pricing structure which means no commissions.
4. ECN Account
This account has no lot size restrictions so you can trade standard lots. It offers lower spread than the Standard Account, but you must pay a fixed commission per trade.
Account Management - 6/10
Max. Number of Trading Accounts Allowed
You can open 10 MT4 and 10 MT5 accounts
Margin Call & Stop Out
Margin call comes when your margin level drops to 100%, while stop out happens when your margin level falls to 20%.
Account Currency
Ultima Market live accounts come in USD account display currency.
Leverage
Ultima Markets leverage is up to 1:2000.
Negative Balance Protection
Ultima Markets has Negative Balance Protection which prevents your account balance from slipping into negative.
Range of Markets - 6/10
Forex
There are 250+ currency pairs available for trading using CFDs.
Indices
12+ Indices such as Nasdaq, GER40, DJ30, SP500; are available for trading using CFDs.
Stocks
100+ Stocks such as AAPL, GOOGL, META'; are available for trading using CFDs.
Commodities
10+ hard & soft commodities such as Oil, SIlver, Gold, Grains, Sugar, Cotton, etc. are available for trading using CFD contracts.
Bonds
10+ EU, UK & US bonds are available for trading using CFDs.
Fees - 6/10
1. Spread & Commission
On the Standard & Standard Cent Accounts, spread starts from 1.0 pips with zero commissions.
On the ECN Account types, spread starts from 0.0 pips with $2.5 per side commissions.
2. Withdrawal Fee
Ultima Markets does not charge withdrawal fees except for int'l bank wire method which attracts a $20 withdrawal fee.
3. Inactivity Fee
Ultima Markets does not charge inactivity fees on dormant accounts.
Platforms - 7/10
MT4/5
Ultima Markets allows you trade on MT4 & MT5 using any of their account types. Their MT4 comes in mobile/desktop/web versions, while MT5 comes only as a mobile/desktop version.
Ultima Markets Mobile App
The UM mobile app is available for trading on your android or apple smart phone.
Tools - 8/10
1. Copy Trading
UM offers copy trading through their UM Social web platform.
2. Economic Calendar
There is an economic calendar on the UM website & mobile app to alert you of incoming news events such as NFP, CPI, Interest Rate Decisions, etc.
3. Calculators
Margin, Profit, Swap, & Volume calculators are available on the UM website.
Customer Support - 7.5/10
1. Live Chat
24/7 live chat support is available with a 1-miniute average hold time.
2. Telephone Support
Telephone support is toll-free for Ultima Markets Malaysia but not toll-free for other locations.
3. Beginner Education
There is basic beginner education to help new traders get started.
Final Verdict - 6.7/10
Ultima Markets is one of our best forex brokers for beginners.