Heard of UltimaCapitalfx.com trading platform? Really want to find more details before choosing the broker? You can carefully read the Ultima Capital FX reviews to know about this forex broker whether to use or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is Ultima Capital FX?
Ultima Capital FX located at UltimaCapitalfx.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims registered address in the UK with offices in India, and Dubai.
What is more, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Ultima Capital FX offers different account packages like Cent, Standard, and ECN.
What We Found about UltimaCapitalfx.com Broker Regulation
Ultima Capital FX has not revealed any legal information about itself or its alleged registration address.
It doesn’t provide any ownership information and it’s completely unregulated. Not even by the country’s regulatory body. Terms and conditions are a mystery, therefore it’s a big NO for this company.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These drawbacks are for forex traders/ clients to avoid losing money with unlicensed scam brokers. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Ultima Capital FX Minimum Deposit
Ultima Capital FX has not provided detailed descriptions of these accounts so we were left figuring a lot of stuff on our own. Just to put a comparison, legitimate brokers clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the funding methods, UltimaCapital FX accepts deposits made in the cryptocurrency Tether, as well through lesser-known electronic payment solutions such as PayNow and KlivePay.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Ultima Capital FX withdrawal says nothing on specific information regarding withdrawal fee and processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Ultima Capital FX Platform — How Safe Is The Trading Software?
Checking through the Ultima Capital FX platform, it offers MT 5. While this is a popular trading software, scammers try to take advantage of the software’s good reputation and attract more clients.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Ultima Capital FX leverage can get up to 1:1000. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Ultima Capital FX Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Ultima Capital FX has appeared like a genuine trading platform. Unfortunately, you should not take the words they say. It is a non-regulated cryptocurrency broker offering financial services to clients. By all appearances, the advice to traders remains to steer clear from unlicensed forex broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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