Question 1

What is the regulatory status and client fund protection offered by Ultima Markets?

Accepted Answer

Ultima Markets operates under a single offshore licence from the Financial Services Commission (FSC) of Mauritius. Mauritius is considered an offshore regulatory jurisdiction, which means the oversight standards are less stringent compared to top-tier regulators like the FCA (UK), ASIC (Australia), or CySEC (EU). Despite this, Ultima Markets implements important safety measures for client funds including guaranteed segregation of client money and negative balance protection. Unlike tier-1 regulated brokers, there is no mention of deposit compensation schemes. Investors should be aware of the higher regulatory risk associated with offshore licensing while the broker emphasizes client money safety through these protections.

Question 2

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

Accepted Answer

Ultima Markets offers two main account types: Standard and ECN. The Standard account has spreads included in the visible price with no additional commission charges. The ECN account provides tighter spreads but charges a fixed commission of $5 per round lot traded. Live data from real accounts suggest that the ECN account generally offers more competitive pricing compared to the Standard account. Additionally, swap (overnight) fees apply for holding positions overnight, with usual triple swap charges on Wednesdays to cover weekends. Overall, Ultima Markets’ pricing is considered quite competitive, especially on the ECN account.

Question 3

What deposit and withdrawal methods does Ultima Markets support, and are there any fees involved?

Accepted Answer

Ultima Markets supports a variety of funding methods, including credit/debit cards, bank wire transfers, cryptocurrencies like Bitcoin and Tether (USDT), China UnionPay, and Alipay. Processing times vary from usually instant for cards and e-wallets to 1-5 business days for bank wires. The broker itself does not charge fees for deposits or withdrawals; however, intermediary banks may apply fees for wire transfers, and cryptocurrency network fees (miner fees) apply and are paid by the sender. Account currencies available include major currencies such as USD, EUR, GBP, AUD, CAD, USD, JPY, HKD, among others. Traders should check for the full list of supported methods applicable to their region.

Question 4

Is Ultima Markets suitable for beginner traders?

Accepted Answer

Ultima Markets can be suitable for beginners who are comfortable with trading on popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both well-known for their usability and extensive online support. The broker also offers its own proprietary trading platform, which might provide a more simplified interface tailored to Ultima Market clients. Support is multilingual and generally responsive, and the broker provides non-expiring demo accounts, Islamic accounts, and negative balance protection, which contribute to a beginner-friendly environment. However, beginners should be cautious with the high leverage (up to 1:2000) offered by the broker, as it dramatically increases risk. The offshore regulatory status may also pose a risk factor to newer traders.

Question 5

What leverage does Ultima Markets offer and what are the associated risks?

Accepted Answer

Under its Mauritius FSC offshore licence, Ultima Markets offers exceptionally high leverage levels up to 1:2000, which is significantly higher than what is permitted by stricter regulatory bodies. High leverage allows traders to control larger positions with a smaller capital outlay, which can amplify both potential profits and potential losses. Due to this high leverage, traders face a substantially increased risk of rapid and significant losses, especially those who may not have adequate risk management experience. Hence, careful consideration and strict risk controls are essential when trading with Ultima Markets' leverage offers.

Question 6

What trading platforms are available at Ultima Markets and what are their features?

Accepted Answer

Ultima Markets provides access to the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, both popular with traders worldwide for their robust charting, analysis tools, and support for automated trading via Expert Advisors (EAs). MT4 is favored for its simplicity and widespread use, though it has fewer built-in advanced features than MT5. MT5 offers more modern features, additional timeframes and indicators, and better support for a wider range of asset types. Besides these, Ultima Markets also offers a proprietary trading platform designed specifically for its services, possibly with unique tools and a simpler design. However, this proprietary platform does not support MT4/MT5 EAs and has less community support compared to MetaTrader platforms.

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