Ultima Markets

After reviewing Ultima Markets, we assess it as a high-risk, likely fraudulent broker. Below we break down exactly why, and what your options are if you have already deposited.

Who is Ultima Markets?

On the surface, Ultima Markets looks like an ordinary forex and crypto broker. Its public site is presented at https://www.ultimarkets.com/. It claims to be based in Saint Vincent and the Grenadines. But surface impressions are exactly what these operations rely on — the substance behind Ultima Markets is where the problems begin.

Is Ultima Markets regulated?

Ultima Markets provides no verifiable regulatory licence. An unregulated broker answers to no one: it can freeze withdrawals, invent fees, and disappear with deposits, all without consequence. This alone is reason enough to stay away.

Red flags we identified

• No credible physical address or verifiable corporate record
• Aggressive “account managers” coaching clients to deposit
• Offshore or shell-company registration used to avoid oversight
• Account dashboards that show “gains” with no real market exposure
• Opaque or anonymous corporate ownership

Our analysis

Ultima Markets claims to be a Corporate Authorised Representative (No. 001249894) of Australian Financial Services License issued by the Australian Securities and Investments Commissions (ASIC), AFSL no. 353001. But when we searched in ASIC, However, we found that the "AR 001249894" corresponding company name is "ULTIMA MANAGEMENT PTY LTD", whose registered address in ASIC is 69 Munro Ave Ashburton VIC 3147. This is inconsistent with the company name Ultima Markets Ltd and the public address displayed on its webpage. Besides, there is no website shown on ASIC for us to verify. All in all, the regulation in ASIC this broker claims is suspicious and this broker may be a clone firm that falsely uses information of an ASIC-regulated firm. Besides, Ultima Markets Ltd claims to be registered under Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) with the registration number 26330. But please be informed that SVG FSA is not a forex regulator that issues licenses for forex brokers or regulates entities engaging in forex. The truth is, Ultima Markets is not under valid regulation by any regulators to provide investment services. Investors' funds in this company are unsafe and cannot be protected by any law. It is a scam.

Can you recover money lost to Ultima Markets?

If you have deposited with Ultima Markets, do not pay any further “fees” to withdraw — that is part of the trap. Funds sent to operations like this can sometimes be traced on-chain and pursued through the exchanges and processors that received them. Whether recovery is realistic depends on how you paid and how quickly you act.