IC Markets vs Ultima Markets: Comparison

Andriy BondarenkoAndriy Bondarenko
  • Year Founded: 2007
  • Broker Type: ECN, DMA
  • Platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView
  • Spread: Low
  • Maximum Leverage: 1:500
  • Minimum Deposit: $200
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  • Year Founded: 2009
  • Broker Type: MM, STP, ECN
  • Platforms: MetaTrader 4 (MT4)
  • Spread: Low
  • Maximum Leverage: 1:2000
  • Minimum Deposit: $20
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Our pick:

IC Markets

Based on multiple factors—spreads and fees, available assets and instruments, platforms and execution speed, quality of support and educational resources. This is not financial advice.

Comparison of IC Markets and Ultima Markets

FeatureIC MarketsUltima Markets
Broker
Year Founded20072009
Broker TypeECN, DMAMM, STP, ECN
DealingA-bookA-book, B-book
ExecutionMarketMarket
RegulationSFSA, ASIC, CySEC, CMAFSC, CySEC
PlatformsMetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingViewMetaTrader 4 (MT4)
Spread Low Low
Maximum Leverage1:5001:2000
Minimum Deposit$200$20
Base CurrenciesUSD, EUR, GBP, AUD, CHF, JPY, NZD, SGD, HKDUSD, EUR, GBP, CAD, AUD, NZD, SGD, HKD, JPY
Funding MethodsBank Wire, Credit Card, Debit Card, Neteller, PayPal, Skrill, Bpay, FasaPay, Klarna, POLi, RapidpayBank Wire, Credit Card, Debit Card, Alipay, Bitcoin (BTC), Tether (USDT)
Inactivity Fee
Interest on Margin
Withdrawal Fee
Investor ProtectionInvestor Compensation Fund (ICF)Investor Compensation Fund (ICF)
Protection Size€20 000€20 000
Segregated Accounts
Negative Balance Protection
Guaranteed Stop Loss
Copy Trading
VPS
MAM/PAMM
Scalping Allowed
EAs/Robots
Depth of Market (DOM)
Tradable Assets (CFDs)Currencies, Indices, Stocks, ETFs, Bonds, Cryptocurrencies, Metals, Energies, Soft CommoditiesCurrencies, Indices, Stocks, ETFs, Bonds, Metals, Energies, Soft Commodities, Cryptocurrencies
ReviewIC Markets ReviewUltima Markets Review

About IC Markets

IC Markets is a leading forex and CFD broker, well-known for its exceptional trading conditions and advanced technology. Established in 2007 and regulated by multiple top-tier authorities, including ASIC, CySEC, and the FSA Seychelles, IC Markets has earned a solid reputation among retail and institutional traders alike. The broker is particularly favored by scalpers, day traders, and algorithmic traders for its ultra-tight spreads, fast execution speeds, and no-dealing-desk (NDD) model. With access to powerful platforms like MetaTrader 4, MetaTrader 5, and cTrader, IC Markets offers a seamless trading experience across various asset classes, including forex, indices, commodities, and cryptocurrencies. Its focus on transparency, competitive pricing, and exceptional liquidity ensures that traders can execute strategies efficiently. However, while IC Markets excels in trading infrastructure, it offers limited educational resources, which may not fully cater to beginners.

Pros

  • Regulated by top-tier authorities (ASIC, CySEC)
  • Tight spreads starting from 0.0 pips on Raw Spread accounts
  • No dealing desk (NDD) model ensures transparent and fast execution
  • Excellent platforms: MetaTrader 4, MetaTrader 5, and cTrader
  • High liquidity and competitive pricing ideal for scalping and algorithmic trading
  • Wide range of tradable assets, including cryptocurrencies
  • Dedicated 24/7 customer support

Cons

  • Restricted availability in some regions due to regulatory constraints
  • Withdrawal fees may apply for certain methods

About Ultima Markets

Ultima Markets is a reputable Forex broker established with a commitment to providing a comprehensive trading environment for both novice and seasoned traders. Offering a wide range of financial instruments, including major and minor currency pairs, commodities, indices, and cryptocurrencies, Ultima Markets ensures diverse trading opportunities. With competitive spreads, flexible leverage options up to 1:2000, and a low minimum deposit requirement, Ultima Markets appeals to a broad spectrum of traders. Additionally, the broker emphasizes security and transparency by being regulated by reputable financial authorities, ensuring that clients' funds are safeguarded. Responsive customer support available 24/5, and advanced trading tools further enhance the trading experience, making Ultima Markets a compelling choice for individuals seeking a reliable and feature-rich Forex brokerage.

Pros

  • Offers multiple account options
  • Provides access to a variety of financial instruments
  • Features competitive spreads and leverage options
  • Regulated by reputable financial authorities
  • Requires a low minimum deposit
  • Compatible with automated trading systems and Expert Advisors (EAs), facilitating algorithmic and high-frequency trading strategies

Cons

  • Absence of fixed spread account options could be a drawback for traders who prefer consistent spreads irrespective of market volatility
  • Limiting options for traders who prefer other trading platforms like MetaTrader 5 or proprietary alternatives
  • Lacks comprehensive educational resources, such as webinars, tutorials, and e-books, which can hinder the learning and development of new traders

IC Markets & Ultima Markets Regulation

Companies
IC Markets
Raw Trading Ltd, International Capital Markets Pty Ltd, IC Markets (EU) Ltd, IC Markets (KE) Limited
Ultima Markets
Ultima Markets Ltd, Ultima Markets Cyprus Ltd
Countries
IC Markets
Seychelles, Australia, Cyprus, Kenya
Ultima Markets
Mauritius, Cyprus
Regulators
IC Markets
SFSA, ASIC, CySEC, CMA
Ultima Markets
FSC, CySEC
Investor Protection
IC Markets
Investor Compensation Fund (ICF)
Ultima Markets
Investor Compensation Fund (ICF)
Investor Protection Size
IC Markets
€20 000
Ultima Markets
€20 000
Publicly Traded
IC Markets
Ultima Markets
Segregated Accounts
IC Markets
Ultima Markets
Guaranteed Stop Loss
IC Markets
Ultima Markets
Negative Balance Protection
IC Markets
Ultima Markets

Account Types

STP Account
Account Name
IC Markets
Ultima Markets
Standard
Min Deposit
IC Markets
Ultima Markets
$50
Lot Size
IC Markets
Ultima Markets
0.01
Spread Type
IC Markets
Ultima Markets
Floating
Execution
IC Markets
Ultima Markets
Market
Min Spread
IC Markets
Ultima Markets
1
Fee
IC Markets
Ultima Markets
No
Max Leverage
IC Markets
Ultima Markets
1:2000
Stop Out
IC Markets
Ultima Markets
20%
Margin Call
IC Markets
Ultima Markets
50%
ECN Account
Account Name
IC Markets
Standard
Ultima Markets
ECN
Min Deposit
IC Markets
$200
Ultima Markets
$50
Lot Size
IC Markets
0.01
Ultima Markets
0.01
Spread Type
IC Markets
Floating
Ultima Markets
Floating
Execution
IC Markets
Market
Ultima Markets
Market
Min Spread
IC Markets
0.6
Ultima Markets
0.1
Fee
IC Markets
No
Ultima Markets
$5 per 1 lot
Max Leverage
IC Markets
1:500
Ultima Markets
1:2000
Stop Out
IC Markets
50%
Ultima Markets
20%
Margin Call
IC Markets
100%
Ultima Markets
50%
Zero Account
Account Name
IC Markets
Raw Spread
Ultima Markets
Min Deposit
IC Markets
$200
Ultima Markets
Lot Size
IC Markets
0.01
Ultima Markets
Spread Type
IC Markets
Floating
Ultima Markets
Execution
IC Markets
Market
Ultima Markets
Min Spread
IC Markets
0
Ultima Markets
Fee
IC Markets
$7 per 1 lot
Ultima Markets
Max Leverage
IC Markets
1:500
Ultima Markets
Stop Out
IC Markets
50%
Ultima Markets
Margin Call
IC Markets
100%
Ultima Markets
Cent Account
Account Name
IC Markets
Ultima Markets
Cent Account
Min Deposit
IC Markets
Ultima Markets
$20
Lot Size
IC Markets
Ultima Markets
0.01
Spread Type
IC Markets
Ultima Markets
Floating
Execution
IC Markets
Ultima Markets
Market
Min Spread
IC Markets
Ultima Markets
1
Fee
IC Markets
Ultima Markets
No
Max Leverage
IC Markets
Ultima Markets
1:2000
Stop Out
IC Markets
Ultima Markets
50%
Margin Call
IC Markets
Ultima Markets
80%
Additional Features
Demo Account
IC Markets
Ultima Markets
VIP Account
IC Markets
Ultima Markets
Swap-Free Account
IC Markets
Ultima Markets
Copy Trading
IC Markets
Ultima Markets
VPS
IC Markets
Ultima Markets
PAMM/MAM Accounts
IC Markets
Ultima Markets

Funding and Fees

Base currencies
IC Markets
USD, EUR, GBP, AUD, CHF, JPY, NZD, SGD, HKD
Ultima Markets
USD, EUR, GBP, CAD, AUD, NZD, SGD, HKD, JPY
Deposit and withdrawal methods
IC Markets
Bank Wire, Credit Card, Debit Card, Neteller, PayPal, Skrill, Bpay, FasaPay, Klarna, POLi, Rapidpay
Ultima Markets
Bank Wire, Credit Card, Debit Card, Alipay, Bitcoin (BTC), Tether (USDT)
Inactivity fee
IC Markets
Ultima Markets
Interest on margin
IC Markets
Ultima Markets
Withdrawal fee
IC Markets
Ultima Markets

Trading Platforms and Conditions

Trading Platforms
IC Markets
MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView
Ultima Markets
MetaTrader 4 (MT4)
Execution Speed
IC Markets
40 ms
Ultima Markets
-
Scalping
IC Markets
Ultima Markets
Expert Advisors (EAs)
IC Markets
Ultima Markets
Depth of Market (DOM)
IC Markets
Ultima Markets
Spread
IC Markets
low
Ultima Markets
low

Trading Assets

Currencies
IC Markets
61
Ultima Markets
60
Indices
IC Markets
25
Ultima Markets
28
Stocks
IC Markets
2175
Ultima Markets
86
Cryptocurrencies
IC Markets
21
Ultima Markets
47
Bonds
IC Markets
10
Ultima Markets
7
Metals
IC Markets
7
Ultima Markets
9
Energies
IC Markets
5
Ultima Markets
7
Soft Commodities
IC Markets
8
Ultima Markets
7
ETFs
IC Markets
38
Ultima Markets
6

Education and Analytics

Economic Calendar
IC Markets
Ultima Markets
Indicators
IC Markets
Ultima Markets
Robots
IC Markets
Ultima Markets
Signals
IC Markets
Ultima Markets
Autochartist
IC Markets
Ultima Markets
Expert Analytics
IC Markets
Ultima Markets
News Feed
IC Markets
Ultima Markets
Education Articles
IC Markets
Ultima Markets
Webinars
IC Markets
Ultima Markets
Seminars
IC Markets
Ultima Markets

Customer Support

Email
Phone
IC Markets
Ultima Markets
Telegram
IC Markets
Ultima Markets
Facebook
IC Markets
Ultima Markets
LinkedIn
IC Markets
Ultima Markets
Instagram
IC Markets
Ultima Markets
Twitter
IC Markets
Ultima Markets

Which Broker is Better?

After comparing IC Markets and Ultima Markets, IC Markets comes out ahead as our overall pick. It ranks higher in our internal scoring and delivers a stronger balance of pricing (spreads/fees), platform experience, and product range. That said, the runner-up may still be a better fit if you prioritize specific needs—like a particular account type, funding method, or niche instruments. This is not financial advice; always choose a broker that matches your goals and local regulatory requirements.

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Andriy Bondarenko

Andriy Bondarenko

Broker Analyst

Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.