Ultima Markets — where it wins, where it loses
Ultima Markets does not currently take a column outright against this field. It loses on published spread. Its cost per ten lots is not confirmed, so it is left out of the cost ordering rather than estimated.
Column by column
The split
Two lists, no averaging. A broker that takes a column outright appears on the left of it; one that gets beaten on a column appears on the right. Nothing is scored into a single number, because a single number hides which side you actually care about.
Wins on
No column where Ultima Markets takes the field outright.
Loses on
- published spread
Cost per 10 lots is the EUR/USD spread cost of ten round-turn standard lots at the figure above, commission excluded. Where a broker publishes a "from" spread rather than an average, the comparison inherits that limitation — see the unconfirmed list further down.
Licensing
Which entity, which regulator, which number
Tier decides how much weight a licence carries in any safety column. Each row links to the page it was read from.
| Regulator | Number | Jurisdiction | Tier | Entity | Read from |
|---|---|---|---|---|---|
| FSC Mauritius | Mauritius | Tier 3 | Ultima Markets Ltd | ultimamarkets.com | |
| FSCA | FSP 52497 | South Africa | Tier 2 | Ultima Markets (Pty) Ltd | ultimamarkets.com |
| FCA | United Kingdom | Tier 1 | Ultima Markets UK Ltd | ultimamarkets.com |
Checkable
Facts the comparison runs on
On the record
- Ultima Markets states it was established in 2016 and offers over 250 CFD instruments across forex, commodities, indices and stocks.
- Ultima Markets Ltd is stated by the company to be authorised and regulated by the Financial Services Commission of Mauritius as a Full-Service Investment Dealer (excluding underwriting).
- The company announced in August 2025 that it had secured FCA authorisation through Ultima Markets UK Ltd, and its site states UK onboarding is expected to begin in 2026.
- Ultima Markets' own disclosure states that its international entities are not based in the UK and are not licensed by the FCA, so clients of those entities do not have FCA protections.
- A South African entity, Ultima Markets (Pty) Ltd, is described as an FSCA Financial Services Provider under FSP number 52497.
| Trading since | 2016 |
|---|---|
| Base | Mauritius |
| Minimum to open | not verified |
| Leverage cap | |
| EUR/USD | not verified |
| Terminals | MT4, MT5 |
| Account tiers | Standard, ECN |
| Record confidence | low |
| Matchup-ready | no — too many gaps to run a fair head-to-head |
Excluded from the maths
Not verified
Not verified
These fields are not confirmed. They are shown as gaps, not filled in, and they do not feed any column of the matrix:
- FSC Mauritius licence number for Ultima Markets Ltd (only found on secondary sites; not confirmed on a primary page)
- FCA firm reference number for Ultima Markets UK Ltd
- hq
- minDeposit
- maxLeverage
- spreadEurusd
- segregatedFunds
- negativeBalanceProtection
- publiclyListed
- accountTypes
- FSCA FSP 52497 not confirmed on the FSCA register
- negative balance protection
Costs less
Who beats Ultima Markets on price
Tickmill
$10.00 per 10 lots · wins on headline spread, platform choice
Eightcap
$10.00 per 10 lots · wins on regulatory reach
JustMarkets
$30.00 per 10 lots · wins on headline spread
CMC Markets
$50.00 per 10 lots · wins on headline spread, no minimum deposit, regulatory reach, platform choice
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money. Verify every figure with the broker before opening an account.