Ultima Markets review summary
Ultima Markets is a forex and CFD broker founded in 2016, headquartered in Port Louis, Mauritius, that combines an EU-regulated CySEC entity with an offshore arm for higher leverage. The result is a broker offering raw spreads from 0.0 pips and leverage up to 1:500 on MetaTrader 4 and MetaTrader 5, with a low $50 minimum deposit that keeps it accessible to newer traders.
The two genuine standout features are its regulatory backing and cost. Holding a CySEC licence — and, importantly, membership of the Investor Compensation Fund on the EU entity — gives Ultima Markets stronger client protections than purely offshore competitors. On pricing, raw spreads from 0.0 pips put its cost-per-trade in the same bracket as established ECN brokers. The trade-offs are brand maturity and structure: Ultima Markets is a younger name, and its headline 1:500 leverage runs through the offshore Mauritius entity rather than the protected EU one.
Ultima Markets account types
| Account | Min. deposit | Spreads | Commission | Best for |
|---|---|---|---|---|
| Standard | $50 | From 1.3 pips | None | Beginners and casual traders |
| ECN / Raw | $50 | From 0.0 pips | ~$3/lot/side | Scalpers and active traders |
| Islamic (swap-free) | $50 | Standard or Raw pricing | No swaps | Sharia-compliant accounts |
Ultima Markets keeps the minimum deposit at $50 across tiers; the difference is pricing model — all-in spreads on Standard versus raw 0.0-pip spreads plus commission on the ECN account.
Regulation & safety
Ultima Markets operates under the two regulators in its profile:
- CySEC — Cyprus Securities and Exchange Commission, the EU-regulated entity
- FSC Mauritius — Financial Services Commission licensing for the international entity
This is a dual EU/offshore structure. The CySEC entity carries strong retail protections — the ESMA 1:30 leverage cap, segregated client funds, negative balance protection and Investor Compensation Fund cover up to €20,000 — which is a genuine differentiator versus offshore-only rivals. The higher 1:500 leverage in the headline comes through the FSC Mauritius entity, where recourse is weaker and the ESMA cap does not apply. Decide which entity suits you before signing up, and verify the licence number on the regulator’s website.
Who Ultima Markets is best for
- Protection-minded traders who want CySEC oversight and ICF cover
- Cost-sensitive scalpers wanting raw 0.0-pip spreads from a $50 entry
- High-leverage traders willing to use the offshore entity for 1:500
- MetaTrader users who only need a solid MT4/MT5 environment
Who should look elsewhere
- Traders who want a longer track record should consider Exness or Pepperstone
- Those wanting rich education and research are better served by XM
- Scalpers chasing the lowest commissions might compare Tickmill or Pepperstone
For traders prioritising tight execution, our guide on scalping forex explains what to look for in a broker.
Bottom line
Ultima Markets scores 4.1/5. It is a younger broker that punches above its age thanks to CySEC regulation, ICF membership and competitive raw pricing, with the flexibility of a high-leverage offshore entity. The honest verdict: it is a solid choice for traders who want EU-grade protection without a high deposit, but those prioritising a long, proven history or the deepest liquidity should compare the established brokers above. Confirm which entity and licence applies to your country before depositing.
