Ultima Markets

Founded in 2016 and headquartered in Mauritius, Ultima Markets operates under licenses from the Mauritius FSC and CySEC (Cyprus) for its EU arm, while also serving clients in South Africa through an FSCA entity. This range of regulation offers decent oversight, with fund segregation and negative balance protection across most regions.

Traders can access more than 250 instruments—including forex, commodities, indices, stocks, bonds, and crypto CFDs—via MetaTrader 4, MetaTrader 5, and their own WebTrader platform for desktop and mobile

Ultima Markets stands out for its fast execution, low-cost trading infrastructure, and smooth overall experience. In our testing, spreads on major pairs like EUR/USD and GBP/USD were consistently competitive—especially on ECN accounts, where pricing gets even tighter. The broker keeps commissions low, and we found no unpleasant surprises in terms of slippage or fees.

Ultima offers access to both MetaTrader 4 and MetaTrader 5, and also provides a browser-based WebTrader platform. While it’s not a full proprietary system built in-house from the ground up, the WebTrader is sleek, responsive, and a great option if you prefer not to install software. It handles all the essentials: charting, order placement, and position tracking—making it a practical pick for those who value convenience.

We also like that Ultima caters to a wide range of traders with flexible account types, from Standard to ECN and Pro ECN. Add in solid educational resources—like webinars, daily analysis, and trading guides—and it’s clear they’re putting effort into supporting clients at different skill levels.

Their support team responded promptly during our tests, and we found multilingual live chat and email service to be helpful and informed. Overall, Ultima delivers a streamlined, low-cost trading setup that does the basics very well.

While Ultima has many strengths, a few areas may concern discerning traders. Regulatory coverage, though decent, lacks top-tier oversight from FCA or ASIC—this may matter if stronger investor protection is a priority .

Customer reviews are predominantly positive but not without exceptions. Some traders have reported withdrawal issues and study terminations, citing sudden account closures or disputes over profits. If you're drawn to copy trading, it’s also worth noting that community feedback is mixed—while some praise the IB program and rebates, others warn of aggressive marketing tactics.

In terms of platform variety, Ultima offers MT4, MT5, and WebTrader only—no proprietary desktop platform with advanced analytics or charting, which might disappoint traders seeking polished in-house features.

Ultima Markets offers a well-rounded experience that hits many key points: solid execution, competitive pricing, and a platform that just works. Their ECN account structure delivers tight spreads and low commissions, which makes them a strong contender for cost-focused traders.

We also like the flexibility across account types and platforms. Whether you prefer MetaTrader 4, MetaTrader 5, or the clean, responsive WebTrader interface, the tools here are more than capable for most strategies.

That said, Ultima doesn’t hold top-tier licences like FCA or ASIC, which is something to keep in mind if strict regulatory oversight is high on your list. And while their trading conditions are strong, traders who rely heavily on copy trading or advanced analytics may find the platform a bit limited in those areas.

All in all, Ultima Markets delivers a smooth, low-cost trading setup backed by quick support and a focus on essentials. If you care about fast execution and keeping your trading costs in check, Ultima is worth a closer look.