WikiFX Review: Is Ultima Markets Legit?

In this article

WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of Ultima Markets based on the facts.

What is WikiFX?

To explore whether Ultima Markets is a scammer or not, we evaluated Ultima Markets from different aspects, such as regulatory status, exposure, etc.

1. Evaluate the reliability of Ultima Markets based on its general information and regulatory status

To understand Ultima Markets better, we explore Ultima Markets by analyzing the main perspectives:

A. General Info of Ultima Markets

B. Regulatory Status

C. Social Media Engagement

A. General Info of Ultima Markets

About Ultima Markets

Ultima Markets is a forex broker registered in Cyprus. It has a trading experience of more than five years. The brokerage caters to traders' diverse needs by providing a range of trading instruments, including forex, metals, commodities, indices, shares CFDs, and cryptocurrencies.

Minimum Deposit

The minimum deposit amount required to register a FOREX.com Standard live trading account is $100, which is quite friendly to most investors.

Accounts

The standard account is designed for professional traders and provides stable

Spreads & Commissions

Ultima Markets offers low spreads and commissions to traders. With commissions starting from $0 and spreads from as low as 0.0 pips. The brokerage provides different account types to suit the needs of traders, such as the Standard Account, ECN Account, and Pro ECN Account. Each account type offers unique features and benefits, including varying levels of spreads and commissions.

Trading Platforms

Ultima Markets offers a variety of trading platforms designed to cater to the diverse needs of its traders, from beginners to experienced market participants.

MT4 Desktop: MetaTrader 4 (MT4) is a widely used electronic trading platform developed by MetaQuotes Software. Ultima Markets provides the MT4 Desktop version, which combines simplicity, speed, and a comprehensive range of features.

MT4 Mobile: Ultima Markets offers MT4 mobile apps for iOS and Android devices. The mobile platform allows traders to stay connected and trade on the go.

MetaTrader 4 (MT4) WebTrader: Ultima Markets offers the MT4 WebTrader, which allows traders to access their MT4 accounts through a web interface.

B. Regulatory Status

The legitimate license of Ultima Markets

Ultima Markets is a regulated broker. It is regulated by CYSEC with a license number: 426/23.

C. Social Media Engagement

This broker has official accounts on major social media platforms. These accounts are used to regularly publish promotional activities, including lectures by industry experts.

2. Special survey about Ultima Markets from WikiFX

Scoring Criteria

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Ultima Markets has been given by WikiFX a decent rating of 5.75/10.

3. Conclusion

Ultima Markets is a regulated broker. For some traders, it may be an attractive option because of its reputation in the industry and its focus on security and protection of client funds. But we still want you to do more research and make yourself comfortable before investing in this broker.