Choose CMC Markets if you want…
Discretionary traders wanting deep instrument coverage and a sophisticated proprietary platform from a publicly-listed UK broker.
CMC Markets
⭐ 4.5 / 5
VS
Ultima Markets
⭐ 4.1 / 5
CMC Markets vs Ultima Markets — which broker is better in 2026?
We compared CMC Markets and Ultima Markets across five core criteria: regulation, minimum deposit, spreads, platform choice, and overall user rating. CMC Markets wins on more criteria (4 categories vs 1), making it the stronger default for most traders. Both brokers remain reputable, independently tier-1 regulated options.
| CMC Markets | Ultima Markets | Winner | |
|---|---|---|---|
| Rating | ⭐ 4.5 / 5 | ⭐ 4.1 / 5 | CMC Markets |
| Regulators | FCA, ASIC, BaFin, MAS, FMA NZ, IIROC, MA Poland | CySEC, FSC Mauritius | CMC Markets |
| Min. deposit | $0 (no minimum) | $50 | CMC Markets |
| Spreads from | 0.7 pips (Next Generation) | 0.0 pips (Raw) | Ultima Markets |
| Max. leverage | Up to 1:30 (EU retail) / 1:500 (Professional) | 1:500 | — |
| Platforms | CMC Next Generation, MT4, CMC Mobile | MT4, MT5 | CMC Markets |
| Founded | 1989 | 2016 | — |
| HQ | London, United Kingdom | Port Louis, Mauritius | — |
Pros & cons compared
CMC Markets pros
- ✓ Founded 1989 — among the oldest CFD brokers (LSE: CMCX)
- ✓ FCA, ASIC, BaFin, MAS — tier-1 regulators across major financial centres
- ✓ 12,000+ instruments — one of the broadest catalogues in retail CFDs
- ✓ Award-winning proprietary 'Next Generation' platform
- ✓ No minimum deposit
Cons
- ✗ Proprietary platform has a learning curve vs. MT4
- ✗ Spread on FX 'Standard' account (0.7 pips) wider than ECN brokers
- ✗ Limited cryptocurrency CFD coverage
Ultima Markets pros
- ✓ CySEC + FSC Mauritius regulation
- ✓ Raw spreads from 0.0 pips
- ✓ Investor Compensation Fund (ICF) membership on the EU entity
- ✓ Full MT4 and MT5 support
Cons
- ✗ Offshore entity used for the higher 1:500 leverage
- ✗ Younger brand with limited public track record
- ✗ Modest proprietary tooling beyond MetaTrader
Which one should you choose?
Choose Ultima Markets if you want…
Traders who want CySEC-backed raw-spread accounts with global reach and high offshore leverage.
Frequently asked questions
Which is better — CMC Markets or Ultima Markets?
Based on five comparison criteria (regulation, deposit, spreads, platforms, overall rating), CMC Markets wins 4 categories. That makes it the stronger default choice — though both brokers remain reputable, independently tier-1 regulated options.
Is CMC Markets more regulated than Ultima Markets?
CMC Markets holds licenses from: FCA, ASIC, BaFin, MAS, FMA NZ, IIROC, MA Poland. Ultima Markets holds licenses from: CySEC, FSC Mauritius. CMC Markets has more regulatory licenses, giving it broader geographic coverage.
What are the spreads at CMC Markets vs Ultima Markets?
CMC Markets spreads start from 0.7 pips (Next Generation). Ultima Markets spreads start from 0.0 pips (Raw). Actual spreads vary by account type and market conditions.
Which has a lower minimum deposit, CMC Markets or Ultima Markets?
CMC Markets: $0 (no minimum). Ultima Markets: $50. CMC Markets has the lower entry barrier.
