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Ultima Markets in South Africa — review, licence and costs
Score (5 of 6 axes scored)
shown, not ranked: no reviews
- Round-turn cost20%100
- Safety20%100
- Payouts15%0
- Track record10%50
- Platforms10%50
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- Ultima Markets (Pty) Ltd, an FSCA-authorised FSP, serves SA clients (offshore Mauritius entity also used).
- Founded
- 2016
- Retail leverage
- 2000ZA
- Round turn
- 5 USDZA
- Currencies
- Accounts in USD; ZAR base account not verified at review.
- Swap-free account
- yes
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Licence check
Open an account with Ultima MarketsThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards South Africa residents
- Ultima Markets (Pty) Ltd, an FSCA-authorised FSP, serves SA clients (offshore Mauritius entity also used).
- Local standing
- Locally regulated by FSCA (FSP 52497); verify current status on fsca.co.za. No adverse FSCA alert found at review.
- Licence as the register states it
- FSCA-licensed: Ultima Markets (Pty) Ltd, FSP No. 52497. Genuine local authorisation.
- Leverage for this entity
- Up to 1:1000-1:2000 (offshore-tier); FSCA does not cap leverage.
- The firm behind it
- Founded 2016; offices Sydney/Nicosia, registered Mauritius; 170+ countries; also holds UK FCA (ref 470325, 2025).
- What we hold against it
- FSCA + FCA + CySEC + FSC Mauritius; Financial Commission member; among more-regulated of its peers in ZA.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards South African residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youLocally regulated by FSCA (FSP 52497); verify current status on fsca.co.za. No adverse FSCA alert found at review.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against South Africa market median(priced from 80 of 103)
Medians run over the 80 of 103 brokers that publish a price for South Africa, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Standard, ECN, Standard Cent, ECN Cent, Islamic option. The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where Ultima Markets sits in the South Africa base(103 brokers)
Round-turn cost, USD (80 of 103 priced)
Median 7 USD · range 1-20 · this broker 5 USD · 23 of 103 brokers do not publish it
Minimum deposit, USD (49 of 103 priced)
Median 50 USD · range 0-1000 · this broker 50 USD · 54 of 103 brokers do not publish it
Retail leverage (72 of 103 with a South Africa figure)
Median 1:500 · range 20-5000 · this broker 1:2000 · 31 of 103 brokers do not publish it
Withdrawal time published (103 brokers)
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Deposit and withdrawal methods (3 methods · 0 local rails)
Bank transfer, cards, UnionPay, Alipay, USDT/BTC;
- Bank transfer
- Cards
- USDT
- Account currency
- Accounts in USD; ZAR base account not verified at review.
- Fee declared
- 3 of 3 methods
- Withdrawal back to
- the funding method
Where it does not serve(36 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(2 platforms)
- MT4
- MT5
| Class | Min spread | Leverage |
|---|---|---|
| MT4 | 1 | 2000ZA |
| MT5 | 1 | 2000ZA |
184 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: IC Markets Raw Spread MT4/MT5, IC Markets Raw Spread cTrader, Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard and 178 more.
Pros and cons(4 for and 4 against, each tied to a figure on this page)
- Round turn 5 USD on the raw + commission basis, under the South Africa median 7
- Locally authorised, licence 52497, read on 09.07.2026
- Swap-free account available
- Round-turn cost 100 of 100, its strongest of 5 scored axes
- Withdrawal in 120 h, over the South Africa median 24
- The published 1:2000 comes from the group's offshore entity, not from the South Africa one
- Payouts 0 of 100, its weakest of 5 scored axes
- Not scored on reviews: the broker publishes no figure we could read
Alternatives in South Africa(6 of 103 scored in South Africa)
- Round turn, USD
- 6ZA
- Min deposit, USD
- 50 groupZA
- Leverage
- 500 group
- Rank in this country
- #4
- Round turn, USD
- 4ZA
- Min deposit, USD
- 50ZA
- Leverage
- 1000ZA
- Rank in this country
- #13
- Round turn, USD
- 6ZA
- Min deposit, USD
- 20ZA
- Leverage
- 30 group
- Rank in this country
- #2
- Round turn, USD
- 6ZA
- Min deposit, USD
- 0 groupZA
- Leverage
- 2000ZA
- Rank in this country
- #3
- Round turn, USD
- 6ZA
- Min deposit, USD
- 25ZA
- Leverage
- 500ZA
- Rank in this country
- #6
- Round turn, USD
- 5ZA
- Min deposit, USD
- 10ZA
- Leverage
- 500ZA
- Rank in this country
- #17
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a South Africa score. Full methodology
| Axis | Weight | What is measured | Ultima Markets |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | — |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 100 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 100 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 0 |
| Track record | 10% | Years since the firm was founded, from its own filings | 50 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 50 |
— the broker does not publish this figure; it is not read as a zero and it is not scored.
FAQ
- Does Ultima Markets accept residents of South Africa?
- Yes. Locally regulated by FSCA (FSP 52497); verify current status on fsca.co.za. No adverse FSCA alert found at review. Onboarding entity: Ultima Markets (Pty) Ltd, an FSCA-authorised FSP, serves SA clients (offshore Mauritius entity also used).
- Is Ultima Markets licensed to serve clients in South Africa?
- FSCA-licensed: Ultima Markets (Pty) Ltd, FSP No. 52497. Genuine local authorisation. Checked on 09.07.2026.
- How much does one round turn cost at Ultima Markets?
- About 5.0 USD per standard lot on EUR/USD. The median across brokers measured for South Africa is 7.0 USD.
- What leverage does Ultima Markets offer to retail clients in South Africa?
- Up to 1:2000. Up to 1:1000-1:2000 (offshore-tier); FSCA does not cap leverage.
- Which trading platforms does Ultima Markets support?
- MT4, MT5. Instruments: FX, indices, commodities, shares CFDs, crypto CFDs (250+ assets).
- How can I withdraw money from Ultima Markets in South Africa?
- Bank transfer, cards, UnionPay, Alipay, USDT/BTC; local ZAR methods not verified at review.
- What account types does Ultima Markets offer?
- Standard, ECN, Standard Cent, ECN Cent; Islamic option.
- Does Ultima Markets offer a swap-free (Islamic) account?
- Yes. Ultima Markets offers a swap-free (Islamic) account to South Africa residents.
Taxes for a South African resident(1 rule)
- SARS taxes residents on worldwide income.https://fsca.co.za
Not tax advice. Check with SARS.