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Ultima Markets Review
Ultima Markets gained a real FCA license in 2025 by buying the UK arm of Tiger Brokers, and it also holds licenses in Mauritius and South Africa.
Min Deposit
$50
Spreads From
0.0 pips (ECN account)
Max Leverage
Up to 1:2000 offshore, much lower for FCA regulated UK retail clients
Platforms
MetaTrader 4, MetaTrader 5
Pros
- Holds a genuine FCA license gained through a 2025 acquisition
- Also regulated in Mauritius and South Africa with separate licenses
- Client funds carry insurance up to 1,000,000 dollars via Willis Towers Watson
- Standard and Cent accounts open with a low 50 dollar minimum deposit
- Runs a live deposit bonus for eligible non UK retail clients
Cons
- The FCA license is very new, gained through a 2025 purchase, not built in house
- Leverage up to 1:2000 offshore is far above FCA retail limits
- Group headquarters are said to be in Australia with no ASIC license found
- A related Australian entity is flagged by an independent tracker for irregular operations
- The main global site still excludes UK and US visitors during its FCA rollout
Ultima Markets is the trading name of a group based mainly in Mauritius. In 2025 it bought the UK arm of Tiger Brokers and gained a real FCA license, reference 470325, alongside licenses in Mauritius and South Africa. The group says its headquarters are in Australia, though no Australian license appears in its own disclosures.
Standard and Cent accounts start from $50 with spreads from 1.0 pips and no commission, while ECN accounts charge a small fee for spreads from 0.0 pips. Leverage can reach 1:2000 outside the UK, far above FCA retail limits. Trading runs on MetaTrader 4, MetaTrader 5, a web platform, and an app, with funds insured up to 1,000,000 dollars through Willis Towers Watson.
The global site still turns away UK and US visitors while the new FCA entity builds a separate local platform. Ultima Markets runs a 50 percent first deposit bonus plus a 20 percent bonus on later deposits, though FCA clients should not expect it, since FCA bans deposit bonuses for retail clients.
Min. Deposit
USD 50
Max Leverage
Up to 1:2000 offshore, much lower for FCA regulated UK retail clients
Spreads From
0.0 pips (ECN account)
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
