Ultima Markets

Ultima Markets Broker Overview

Ultima Markets is a forex and CFD broker that has traded under this brand since 2016. The company that contracts with clients on its international site is Ultima Markets (Mauritius) Ltd, confirmed as a licensee of the Financial Services Commission in Mauritius and registered at Suite 201, 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius. The group also includes companies in the United Kingdom, South Africa and Estonia. It offers four live account tiers from a 50 USD minimum deposit, leverage advertised up to 1:2000, and MetaTrader 4, MetaTrader 5 and two platforms of its own.

Ultima Markets Regulation and License

Three authorisations sit behind the brand, held by three different companies, and they are not interchangeable: only one of them covers the company that takes an international client's deposit.

Mauritius. Ultima Markets (Mauritius) Ltd holds a Full Service Investment Dealer licence excluding underwriting, coded SEC-2.1B, from the Financial Services Commission, effective 6 April 2023. It was confirmed as an active licensee with no adverse annotation on the FSC online public register on 16 October 2026, under the reference GB 23201593, which the register itself does not print. This is the licence that applies to clients of the international site.

United Kingdom. Ultima Markets UK Limited is authorised by the Financial Conduct Authority under firm reference 470325, confirmed on the FCA register on 16 October 2026. The register records retail permissions to arrange and to deal as agent and as principal in contracts for differences and rolling spot forex, under a matched principal limitation, and gives the firm's website as ultima-markets.co.uk. The authorisation dates from 2007 because it came with a company the group acquired and renamed in July 2025, so it is older than the Ultima Markets brand. Clients of the international site are not customers of this entity.

South Africa. Ultima Markets states that Ultima Markets (Pty) Ltd holds Financial Sector Conduct Authority licence number 52497. The broker describes that company as an intermediary between clients and the Mauritius entity rather than the principal, issuer, market maker or counterparty, so on its own account it neither runs the trading book nor holds client money.

Is Ultima Markets Regulated?

Yes, and on the international site the supervision reaches the company that actually holds client money, which is not always the case in this industry. What the Mauritius licence does not bring is a safety net: the jurisdiction operates no investor compensation scheme for a licensee of this kind and no ombudsman route for most clients, so supervision exists without a practical recovery mechanism if money is not returned.

The broker's own notice on ultimamarkets.com is explicit about the same gap from the other direction. It states that its international entities are not regulated by the FCA and that clients there have no guaranteed negative balance protection, no FCA leverage restrictions, no access to the Financial Ombudsman Service, no Financial Services Compensation Scheme cover and no protection under the FCA Client Assets Sourcebook. United Kingdom visitors are directed to ultima-markets.co.uk, and the broker says Ultima Markets UK expects to begin onboarding United Kingdom clients in line with FCA requirements in 2026.

Ultima Markets (Mauritius) Ltd

Ultima Markets (Mauritius) Ltd is the entity on the FSC register and the one the broker's regulatory disclosure places at the centre of the group: its South African company acts as intermediary to it, and its Estonian company, Ultima Markets EU OÜ, facilitates services including payments on behalf of other group companies rather than offering regulated products itself. Check one inconsistency before signing. The client agreement, privacy policy and risk disclosure notice published on the site name the contracting party as Ultima Markets Ltd, without the word Mauritius, and the definitions in that agreement also name an Ultima Markets LLC for which the broker publishes no jurisdiction or registration number. Check the entity named on the agreement presented at signup.

Is Ultima Markets Safe?

That depends on which company holds the account and on how much weight a Mauritius licence carries for the reader. In the broker's favour: the entity taking international deposits is a confirmed licensee of its regulator, the group has traded under one brand since 2016, and it publishes its account terms, fee schedule, legal documents and operating companies with their registered addresses. Against that: the jurisdiction carries no compensation scheme, the broker itself sets out the protections its international clients do not have, and several of its own disclosures disagree with each other. Instrument counts differ between its pages, its funding page prints a cryptocurrency withdrawal as free while its help centre states a fee for it, and a fifth account tier is still advertised in the main navigation although its page redirects to the home page.

One practical check before funding. The broker publishes a fraud notice naming www.ultimamarkets.com as its only official website and disclaiming any affiliation with lookalike sites. Its own practice is looser than that notice: the same site and client portal are also served on a second domain the group owns, ultimamarkets.trade, which its help centre uses for client login. A reader arriving at any other address should confirm it through the contact channels on the official site before sending money or documents.

Ultima Markets Account Types

Four live tiers are offered, all with a 50 USD minimum deposit, leverage up to 1:2000 and market execution.

• Standard: spreads from 1.0 pips, no commission.
• ECN: spreads from 0.0 pips, commission 5 USD.
• Standard Cent: spreads from 1.0 pips, no commission, priced in account cents, covering 60 or more currency pairs and gold.
• ECN Cent: spreads from 0.0 pips, commission 5 USC, on the same cent instrument range.

A demo account carries up to 100,000 US dollars in virtual funds, and the broker publishes no account opening or maintenance fee. A fifth tier, the Ultimate Account, is still linked from the main navigation, but that link returns to the home page and the broker's own comparison page lists only the four tiers above.

Ultima Markets Spreads, Commissions and Fees

Commission is charged on the two ECN tiers, at 5 USD on the ECN account and 5 USC on its cent equivalent, while the Standard tiers are commission free with spreads from 1.0 pips instead. The broker notes that on MetaTrader 5 the commission per side for a 0.01 lot trade is 0.025 USD, rounded to 0.03 USD by two decimal formatting, making the round turn 0.06 USD.

A swap-free account is not a cost-free one. In place of swap, the broker applies an administration fee to positions held past 00:00 server time, with no fee where a position is opened and closed the same day. It states that major currency pairs, gold, oil and silver generally attract neither charge, that a list of exotic pairs including USDTRY, USDZAR and USDMXN may attract the administration fee, and that indices, commodities, shares and crypto CFDs take no swap but may take one.

Ultima Markets Leverage

All four tiers are advertised at leverage up to 1:2000. The broker's own notice adds that clients of its international entities are not covered by FCA leverage restrictions, so the cap that applies in practice depends on the entity and the client's jurisdiction.

Ultima Markets Trading Platforms

MetaTrader 4 and MetaTrader 5 are both offered, each on Windows, macOS, iOS, Android and a browser terminal. The broker also runs two platforms of its own: WebTrader Pro, a browser platform opened from the client portal that allows a deposit or margin top-up from the trade screen, and the Ultima Markets app for iOS and Android, which includes copy trading. The broker states that its main trading server is at Equinix NY4 in New York, connected to its liquidity providers over a OneZero bridge.

Ultima Markets Deposits and Withdrawals

Eleven funding channels are published: Visa and MasterCard, Bitcoin, Tether, Alipay, UnionPay, international bank transfer, and local bank transfers for Indonesia, Malaysia, Thailand and Vietnam. Deposit minimums run from 15 USD on the Thai local transfer to 200 USD on Alipay and UnionPay, with 50 USD the usual figure on cards, cryptocurrency and international wire. Every withdrawal channel starts at 40 USD.

Deposits by card, e-wallet, local transfer and cryptocurrency are credited within an hour, while international bank transfers take two to five working days. Withdrawals are paid in zero to two working days for cryptocurrency and two to five working days for everything else. Most channels carry no broker fee, with two exceptions the broker publishes: the second and any later international wire withdrawal in the same calendar month costs 20 USD, and each USDT TRC20 withdrawal carries a fee equivalent to one US dollar, deducted from the amount requested.

Withdrawals are generally returned to the method used for the deposit. Where the deposit came from a card, the principal must go back to that card before profit above it can leave by another route. International bank transfer has to be switched on first through bank channel authentication in the client portal, and a first wire withdrawal also requires additional verification. Alipay and UnionPay are limited to accounts registered in China.

Ultima Markets Support

Support runs from Monday 01:00 to Friday 17:59 UTC+2, which the broker presents as 24 hours a day, five days a week, so a client who makes contact on a Friday evening or at a weekend falls outside it. Contact is by email at info@ultimamarkets.com, by live chat, on WhatsApp and on Telegram, and the broker publishes no telephone number. Its help centre is maintained in English, Simplified and Traditional Chinese and Japanese.

Ultima Markets Pros and Cons

On the positive side: the company that holds international client money is a confirmed investment dealer licensee in Mauritius, the group also holds a genuine FCA authorisation for its United Kingdom company, entry is 50 USD on every tier, funding is broad and includes four local Asian bank channels, and both MetaTrader platforms are offered alongside two in-house ones.

On the other side: clients of the international entities have no compensation scheme, no ombudsman access and no guaranteed negative balance protection, and the Mauritius licence brings no deposit protection with it; leverage of 1:2000 carries risk in proportion; no telephone line is published; and the broker's own pages disagree on instrument counts and on at least one withdrawal fee.

Ultima Markets Review and Assessment

Ultima Markets runs a multi-entity CFD business in which the supervision a client gets depends entirely on which company signs them. The Mauritius company that contracts with international clients is a confirmed investment dealer licensee, which is more than many offshore-facing brands can show, but Mauritius pairs that supervision with no compensation scheme and no ombudsman for most clients, and the group's stronger FCA authorisation sits with a United Kingdom company the broker says is not yet onboarding. The points worth settling before funding are the entity named on the agreement presented at signup, the withdrawal rules that tie a payout to the deposit method, and the fees published in the help centre that the funding page does not show.