Ultima Markets: FCA licence 470325

Ultima Markets (Mauritius) Ltd is the company behind the international site, confirmed as a licensee on the Mauritius Financial Services Commission register on 16 October 2026 and registered at Suite 201, 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius, under the reference GB 23201593.

The broker's own legal documents are less precise than its register entry. The client agreement, privacy policy and risk disclosure notice name the contracting party as Ultima Markets Ltd, without the word Mauritius, and the agreement's definitions also name an Ultima Markets LLC for which no jurisdiction or registration number is published.

The brand also operates through Ultima Markets UK Limited in London, Ultima Markets (Pty) Ltd in Sandton, South Africa, and Ultima Markets EU OÜ in Tallinn, Estonia, which the broker says facilitates payments and other services for group companies rather than offering regulated products itself.

Not on the international site. Its own notice directs UK clients to a separate site at ultima-markets.co.uk and states that Ultima Markets UK expects to begin onboarding UK clients in line with FCA requirements in 2026.

The risk disclosure on the international site also states that its services are not intended for residents of a number of countries, among them the United States, the United Kingdom, Singapore and Hong Kong.

The broker publishes several conditions that stop a withdrawal. Withdrawals are disabled for 48 hours after the registered phone number is changed and for two days after the authenticator app is re-bound. A withdrawal can also be restricted while proof of address is unverified, where available margin is insufficient, or under account-specific restrictions.

Separately, withdrawals are generally returned to the method used for the deposit, so the principal of a card deposit must go back to that card before any profit above it can be paid out another way.

Yes, but a swap-free account is not free of holding costs. 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 swap nor administration fee, that a list of exotic pairs including USDTRY, USDZAR and USDMXN may attract the fee, and that indices, commodities, shares and crypto CFDs take no swap but may take an administration fee.

Deposits carry no broker fee on any channel, and most withdrawals carry none either, with two exceptions the broker publishes.

The first international wire withdrawal in a calendar month is free and the second and any later one in the same month costs 20 USD. Each USDT TRC20 withdrawal carries a fee equivalent to one US dollar, deducted from the amount requested, although the broker's funding page still prints that withdrawal as free. A bank, card issuer or intermediary bank may charge separately on top.

There are four live tiers: Standard, ECN, Standard Cent and ECN Cent. All four take a 50 USD minimum deposit and are advertised at leverage up to 1:2000.

The difference is cost. The Standard tiers charge no commission with spreads from 1.0 pips, while the ECN tiers charge 5 USD, or 5 USC on the cent version, with spreads from 0.0 pips. The cent tiers are priced in account cents and cover 60 or more currency pairs and gold rather than the full instrument range.

The minimum deposit is 50 USD, and it is the same on all four of the broker's live account tiers.

The funding channel can set a different floor. The Thai local bank transfer starts at 15 USD and the Malaysian and Indonesian ones at 20 USD, while Alipay and UnionPay start at 200 USD. Cards, cryptocurrency and international bank transfer start at 50 USD.

Ultima Markets answers by email at info@ultimamarkets.com, by live chat on its site and in its help centre, and on WhatsApp and Telegram. It publishes no telephone number.

Cover 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 making contact on a Friday evening or at a weekend falls outside it. Its help centre is maintained in English, Simplified Chinese, Traditional Chinese and Japanese.

The maximum advertised leverage is 1:2000, and it is the same on all four of the broker's live account tiers rather than varying between them.

That cap belongs to the group's international entities. The broker's own notice on its international site states that clients of those entities are not covered by FCA leverage restrictions, so the leverage actually available depends on which company holds the account and on the client's jurisdiction.

Ultima Markets publishes eleven funding channels: Visa and MasterCard, Bitcoin, Tether, Alipay, UnionPay, international bank transfer, and local bank transfers for Indonesia, Malaysia, Thailand and Vietnam. PayPal is not one of them.

Card, e-wallet, local transfer and cryptocurrency deposits are credited within an hour, while international bank transfers take two to five working days. Withdrawals start at 40 USD on every channel and are paid in zero to two working days for cryptocurrency and two to five working days for everything else.

Ultima Markets offers MetaTrader 4 and MetaTrader 5, each on Windows, macOS, iOS, Android and a browser terminal. It also runs two platforms of its own: WebTrader Pro, a browser platform opened from the client portal, and the Ultima Markets app for iOS and Android, which includes copy trading.

The cent accounts are a partial exception. The broker's comparison page lists MetaTrader 5, WebTrader and the mobile apps for them, while the cent account page itself lists MetaTrader 5 alone.

Yes, and the licence that matters most is the one held by the company that takes the money. Ultima Markets (Mauritius) Ltd holds a Full Service Investment Dealer licence excluding underwriting from the Mauritius Financial Services Commission, effective 6 April 2023 and confirmed as active on the FSC register on 16 October 2026.

A second authorisation sits with a different company. Ultima Markets UK Limited is authorised by the Financial Conduct Authority under firm reference 470325, confirmed on the FCA register on the same date, with permissions to arrange and to deal in contracts for differences and rolling spot forex under a matched principal limitation; clients of the international site are not customers of that entity. The broker also states that Ultima Markets (Pty) Ltd holds FSCA licence 52497, and describes that company as an intermediary rather than the counterparty.

On client funds, the broker publishes client money insurance evidence naming its Mauritius company as the insured party, but no compensation scheme stands behind a client of that entity: Mauritius provides none for this kind of licensee, and the broker states its international clients have no Financial Services Compensation Scheme cover and no Financial Ombudsman Service access.