Ultima Markets at a glance
Ultima Markets is a multi-asset broker offering forex, metals, indices, shares and commodities on MT4 and MT5, with CIMA regulation and a fast-growing global client base.
Ultima Markets reports a founding year of 2016 and a head office in George Town, Cayman Islands. It lists 3 regulators and 3 trading platforms.
BrokerBazaar verdict
Ultima Markets has a current multi-jurisdictional structure involving FCA-regulated UK, FSC-regulated Mauritius and FSCA-regulated South African entities. However, the entity through which an international client contracts is critical: the main international website explicitly states that it is not operated by the UK FCA entity and does not provide FCA protections.
Legal entities, regulation and licences
Ultima Markets operates through 4 legal entities, each supervised separately. Your account is with one specific entity, so the protections you receive depend on which one onboards you, not on the group's strongest licence. Overall, the group is supervised by no regulator we could map to a public register.
Licence check: Not independently checked. This broker has submitted its details. BrokerBazaar has not yet independently checked them. A company registration or general business licence is not permission to offer regulated brokerage services; only the register entries linked in the table count.
Countries accepted and restricted
Ultima Markets states that it accepts clients from Cayman Islands, Mauritius, Malaysia, South Africa. Availability is decided per entity and can change without notice; residents of jurisdictions such as the USA, and often the EU and UK, are frequently excluded from offshore entities.
Trading products, platforms and account types
Instruments: Forex, Indices, Commodities, Share CFDs, Precious Metals. Platforms: MT4, MT5, Ultima App. Account types: Standard, ECN, Swap-Free.
Best-for tags assigned by our team: MetaTrader, Low Spreads, Multi-Asset, Low Deposit.
Minimum deposit, spreads, commissions and other charges
The minimum deposit is $50. Spreads start from 0.0 pips and commission is None (standard) · $0 (raw). Maximum leverage is 1:2000, subject to the cap of the entity that holds your account.
Swap-free / Islamic account: available (conditional). Swap type: not specified. Headline spreads are usually quoted for the most expensive account tier's cheapest instrument; compare total cost for your typical trade.
Deposits and withdrawals
Deposit methods: Bank Transfer, Credit Card, Crypto, e-Wallets. Withdrawal methods: Bank Transfer, Credit Card, Crypto, e-Wallets.
Withdrawal speed and fees are set by the entity and payment provider. Withdrawal delays are the most common complaint category on BrokerBazaar across all brokers; keep identity documents current and withdraw to the same method you deposited with where required by anti-money-laundering rules.
Execution model, negative balance protection and client money
Negative balance protection: Not specified. Scalping allowed: Yes. Algorithmic trading allowed: Yes. News trading allowed: Not specified. Hedging: not specified. These conditions were compiled from public information and have not yet been confirmed by the broker.
Client-money rules follow the regulator of the entity that holds your account. Check that regulator's rules on its register.
Complaints and dispute process
Formal complaints: info@ultimamarkets.com. Phone: +230 650 3762. Ultima Markets instructs clients to submit disputes or complaints by email to info@ultimamarkets.com and provide their full name, date of birth, address, trading account number, relevant order numbers, detailed complaint, preferred resolution and supporting documents. The current public complaint guidance does not establish one universal acknowledgement or maximum-resolution period for all Ultima Markets entities; therefore no numerical timeframe is entered.
If the broker does not resolve a complaint, escalate to the ombudsman or regulator of the entity that holds your account. BrokerBazaar's Dispute Support Desk can help you document and escalate a case.
Strengths and limitations
- Strength: Tight ECN spreads
- Strength: Low minimum deposit
- Strength: MT4 and MT5 support
- Strength: Negative balance protection
- Limitation: Primarily offshore regulation
- Limitation: Newer brand
- Limitation: Limited research tools
Who this broker suits, and who it does not
Ultima Markets is most relevant to traders looking for: MetaTrader, Low Spreads, Multi-Asset, Low Deposit.
It is less suitable for anyone who needs a strict-tier regulator in their own country of residence, for residents of restricted jurisdictions, and for beginners who have not yet understood leverage and margin. Nothing on this page is personal financial advice.
Ultima Markets change history
Every published fact change, with the previous value and the date it took effect. Each entry says whether the broker made the change itself or our editors checked it against an official source. Regulation and licence claims are always checked by an editor.
No fact changes recorded for Ultima Markets yet. Changes appear here as soon as the broker updates its profile or our editors confirm a change.
Frequently asked questions about Ultima Markets
Data sources. Broker submission, the regulator registers linked above, web-archive and domain records, and third-party traffic data. No independent licence check date is recorded yet. External ratings: Trustpilot 4.2/5; WikiFX 8.8/10; Forex Peace Army N/A/5; Google Play Store N/A/5; Apple App Store 3.7/5.
Commercial disclosure. BrokerBazaar is independent and not owned by any broker. We have no commercial relationship with Ultima Markets. How we make money. Trading leveraged products carries a high risk of loss.