Question 1

Is Ultima Markets regulated and safe for traders?

FXScope Intelligence Lab · Accepted Answer

Ultima Markets is regulated by multiple financial authorities including the Financial Services Commission (FSC) in Mauritius under license number GB 23201593, the Cyprus Securities and Exchange Commission (CySEC) under license number 426/23, and the Financial Conduct Authority (FCA) in the UK under reference number 470325. The company is also a member of The Financial Commission, which provides additional protection through their compensation fund offering up to €20,000 per client. Additionally, Ultima Markets has partnered with Willis Towers Watson to provide customer asset compensation insurance covering up to $1 million per account. However, it's important to note that the international entities operating the website are not subject to FCA regulation, and protections may vary by jurisdiction.

Question 2

What are the trading costs and account types at Ultima Markets?

FXScope Intelligence Lab · Accepted Answer

Ultima Markets offers two main account types: Standard accounts with a $50 minimum deposit, fixed spreads starting from 1 pip on EUR/USD, and 1:30 leverage. ECN accounts also require a $50 minimum deposit with fixed spreads starting from 0 pips on EUR/USD, 1:30 leverage, and a commission of $5 per standard lot per side. Both account types feature a minimum position size of 0.01 lots, and trading is available on 90 currency pairs through Match-Trader and MetaTrader 4 platforms. The maximum leverage across all account types is 1:30 for forex, gold, silver, oil, stocks, and indexes.

Question 3

What payment methods does Ultima Markets accept for deposits and withdrawals?

FXScope Intelligence Lab · Accepted Answer

Ultima Markets supports multiple payment methods for both deposits and withdrawals, including wire transfers (BankTransfer/SWIFT), VISA and MasterCard credit/debit cards, UnionPay, AliPay, Bitcoin, and Tether (USDT). The broker supports account currencies in both EUR (Euro) and USD (United States dollar). However, specific withdrawal processing times, fees, and minimum withdrawal amounts are not detailed in the publicly available information.

Question 4

What trading platforms and tools does Ultima Markets provide?

FXScope Intelligence Lab · Accepted Answer

Ultima Markets offers trading through MetaTrader 4 (MT4) available in PC, web, and mobile versions, as well as their proprietary Ultima Markets app. The platform features include browser-based trading, one-click trading, pending orders, automated trading, and trailing stops. They also provide access to Trading Central for market analysis, an economic calendar, trading calculators, and VPS services. The broker offers CFD trading on over 90 forex currency pairs, commodities, gold, silver, oil, shares, and indices.

Question 5

Is Ultima Markets beginner-friendly for new traders?

FXScope Intelligence Lab · Accepted Answer

Ultima Markets has both beginner-friendly and concerning features. On the positive side, they offer a low minimum deposit of $50, support for expert advisors, and multiple educational tools including Trading Central analysis and economic calendars. The broker provides demo accounts and cent accounts, which can be beneficial for beginners to practice trading. However, there are significant concerns based on user reviews, including allegations of non-compliance with EU leverage restrictions, high leverage offerings up to 1:2000 (which exceeds EU limits), and formal fraud complaints filed by users. Additionally, scalping and expert advisor policies are listed as 'unknown' in their specifications, which may concern new traders seeking clear guidelines.

Question 6

What are the customer support options and language availability at Ultima Markets?

FXScope Intelligence Lab · Accepted Answer

Ultima Markets provides customer support through multiple channels including email, live chat, web forms, and Telegram. Support is primarily available in English. The broker's website is available in 11 languages including English, Arabic, German, Spanish, French, Indonesian, Japanese, Malay, Thai, Vietnamese, and Chinese. This multilingual support suggests an international client base, though the depth of non-English language support in terms of documentation and customer service may vary by language and region.

Question 7

Which countries are restricted from trading with Ultima Markets?

FXScope Intelligence Lab · Accepted Answer

Ultima Markets prohibits trading from several countries including Afghanistan, Cuba, Eritrea, Iran, Iraq, Israel, Liberia, Libya, Malaysia, Nicaragua, Pakistan, Russian Federation, Somalia, Sudan, Syrian Arab Republic, and the United States. US traders are specifically not accepted. The broker notes that their website and services are not intended for residents of certain jurisdictions including the US, UK, Singapore, and areas subject to international sanctions. This geographic restriction policy is part of their regulatory compliance requirements across different jurisdictions where they operate.

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