Ultimate Traders Review: Fairly Attractive Condition or a SCAM?

Ultimate Traders - logo

We don’t often delve into prop-brokers, but today, one has piqued our interest – Ultimate Traders. They claim to offer fairly attractive conditions for starting your trading journey. Our goal is to verify these claims and, at the same time, assess whether there are any signs of a scam. Stay with us and read our in-depth review.

Ultimate Traders General Information

Website https://www.ultimatetraders.com/
Phone Number
Email info@ultimatetraders.com
Address Covent Garden, 71-75 Shelton Street, WC2H 9JQ, London, United Kingdom
Minimum Deposit $99
Assets CFDs
Leverage Up to 1:100
Trading Platform MT4

Registration and Client Portal Review

The official website of Ultimate Traders presents itself as swift and unassuming. Initially, it might not be immediately apparent that this is a prop-broker rather than a conventional one. However, you’ll notice an abundance of self-promotion throughout the site. On the brighter side, there is a comprehensive section featuring frequently-asked questions where traders can seek answers. Unfortunately, when it comes to legal information, it’s somewhat fragmented and requires piecing it together.

Ultimate Traders - website

Signing up with Ultimate Traders is a breeze. Much like the typical registration process with other brokers, you’ll find yourself filling out a concise form. This form will require essential details, such as your full name and contact information. Additionally, you’ll need to create a password to secure your account. It’s important to note that this broker doesn’t burden you with the additional step of email or phone number verification.


The layout of the client portal is somewhat distinct from the usual design. Ultimate Traders places its various offers at the focal point of the dashboard. However, once you look past this feature, you’ll find that the client portal’s functionality aligns with industry standards. Within the portal, you’ll have the ability to personalize your account settings, participate in their referral program, and carry out standard operations like depositing funds or monitoring your trading activities.

Ultimate Traders - Client Portal

Ultimate Traders Trading Conditions

Ultimate Traders presents itself as a realm of opportunities for traders. Let’s dive deeper and see what’s on offer.

Account Types Review

For those with reservations, there’s the Free Trial account. It grants you a two-week access with $10,000 in your account. This is an excellent opportunity to become acquainted with the platform and delve into its functionality.

Moreover, Ultimate Traders introduces two intriguing challenges: Speedy and Classic. In both challenges, the target profit stands at 10%. Participants are allotted three trading days to reach this goal. However, specific conditions apply. In the Classic variant, you can’t exceed a daily drawdown of 6% or a total drawdown of 12%. For the Speedy challenge, daily drawdown must stay under 4%, with a total drawdown limit of 6%.

To embark on these challenges, a subscription is required. Subscription costs vary, commencing from $99 and reaching up to $2,199. The cost depends on the type of challenge and the amount you have in your account. If you wish, you can allocate sums such as 10, 20, or even 400 thousand dollars for trading. Keep in mind that the higher the deposited amount, the greater the entry fee.

Trading Platform

Ultimate Traders offers traders the option to use the MetaTrader 4 (MT4) platform. While MT4 is a well-known and widely used trading platform in the industry, it’s important to understand that Ultimate Traders’ approach to MT4 is somewhat enigmatic. This is because it’s unclear whether the broker has a direct connection to the MT4 platform.

The scenario is that you might be trading on servers provided by an undisclosed partner of Ultimate Traders, as the broker’s own infrastructure and access to MT4 remain unspecified. This lack of transparency might raise questions regarding the reliability and control that traders have over their trading activities on the platform.

However, it’s important to emphasize that MT4 itself is a robust and trusted platform, widely respected for its features and functionalities. Traders around the world use it for its user-friendly interface, comprehensive charting tools, and expert advisors, which can aid in automated trading strategies. Therefore, the choice of MT4 as the trading platform is a positive aspect.

Ultimate Traders — Deposit and Withdrawal of Funds

When it comes to depositing funds into your Ultimate Traders account, the process remains somewhat obscure. The broker does not specify which payment systems or methods they accept, leaving traders in the dark about the available options. The only clear directive from the broker is that you’ll be required to provide comprehensive dealing information within your account.

This suggests that the company likely relies on traditional methods such as bank transfers or deposits via credit and debit cards. However, without explicit details on the accepted payment systems, it can be challenging for traders to make informed decisions.

On the withdrawal side, Ultimate Traders offers a bit more clarity. Withdrawals are processed through Deel, and a contractor agreement will need to be executed before a payout is initiated. The broker states that withdrawal requests are typically processed within 2 business days.


Ultimate Traders’ approach to verification appears somewhat ambiguous. As far as we could discern, the broker does not explicitly mention a verification process. They emphasize the importance of fully completing your contact details within your account.

However, this leaves us with some reservations. It’s highly unlikely that a broker would entrust substantial sums to traders without a thorough KYC (Know Your Customer) procedure. Given this uncertainty, we strongly recommend seeking clarification from Ultimate Traders regarding their verification requirements. It’s essential to have a clear understanding of the verification process, particularly when significant investments are involved.

Is Ultimate Traders a Scam?

The question of Ultimate Traders’ legitimacy is indeed a fascinating one. Not all prop-brokers are what they claim to be, so let’s dive deeper into this.

The company claims to be registered in the United Kingdom, even providing a registration number in its terms of service. Indeed, we have verified the presence of such a legal entity in the registry.

Legal data check

However, it’s important to note that prop-trading is an intriguing endeavor that currently remains largely unregulated. In practice, companies often make exaggerated promises and embellish reality. When it comes to actual trading, most individuals end up losing their money, paying a fee for the “Challenge” (evaluation), and not receiving funding in the end. Therefore, experts do not recommend choosing such arrangements for collaboration. Instead, they suggest opting for established, well-regulated brokers known for their transparency and reliability.

Ultimatetraders.com Domain Info

Ultimate Traders officially incorporated their business in February of 2023. While they may have acquired an existing domain, they updated its content in March 2023. This timeline is crucial for determining the actual duration of this broker’s operation.

Domain info

Contacts Review

Regarding contact information, they provide an email address and even a physical address. Telephone numbers may be added in the future, as it often happens in such cases. Additionally, there is a live chat feature on their website, allowing you to quickly get in touch with the project’s staff.

Pros and Cons

  • User-friendly registration. Ultimate Traders offers a simple and user-friendly registration process, requiring only basic personal information and a password.
  • Accessible FAQs.
  • Ambiguous verification requirements.
  • Unregulated prop trading.
  • Expensive challenges.
  • Lack of clear success stories.
  • Unproven payouts.

Ultimate Traders Summary

Ultimate Traders - favi

Ultimate Traders encourages potential traders to test their skills, but verifiable success stories demonstrating that the company genuinely allocates funds to traders are notably absent. It is advisable not to overpay, as the terms can be challenging. The largely unregulated nature of prop trading raises concerns about potential over-promises and a lack of accountability.

Website information content 4
Client Portal 4
Trading conditions 4
Trading platform 5
Deposit and withdrawal 4
Verification 4
Extra options 2
Licenses and guarantees 4
Work duration 1
Feedback 3

Frequently Asked Questions (FAQ)

What Does Ultimate Traders Offer?

Ultimate Traders provides trading challenges and the opportunity to trade with a virtual $10,000 account to practice trading and explore their platform. The company also offers various challenges with target profits of 10%, but participation fees depend on the challenge type and your account balance.

How Much Money Should I Invest With Ultimate Traders?

The minimum investment required to start with Ultimate Traders is $99. However, it’s crucial to note that the fees for participating in their trading challenges can vary based on the challenge type and your account balance, according to their trading conditions.

Is Ultimate Traders Safe?

While Ultimate Traders appears relatively safe in terms of registration, it’s essential to exercise caution, particularly when considering their commitment to funding traders. As of now, there’s no concrete evidence of how the broker fulfills its funding obligations. Therefore, potential investors should approach this aspect with vigilance and ensure they fully understand the associated risks.

Subhash Mishra
Forex & CFD Trader

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

Subhash is a Bengali who has been trading for 16 years. You will find the most objective reviews of Forex and CFD brokers in his articles.

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Client Reviews

  1. Bill1

    My experience

    My experience with Ultimate Traders, unfortunately, did not end well. I won’t place the blame entirely on the company, as I recognize that I made some critical errors in my approach as well. However, I believe there are certain aspects that this company should improve to provide a more transparent and supportive trading environment.
    Firstly, the company’s marketing approach seemed overly focused on attracting new traders with enticing challenges and promises. While it’s essential to provide opportunities for traders to test their skills, I found that the fees associated with these challenges were not adequately explained, and the terms and conditions were quite complex.

  2. Larry

    Not recommended

    Trading as a proprietary trader can be a challenging endeavor. In fact, I would go as far as to say that I don’t recommend it for most individuals. Proprietary trading involves a great deal of risk, often with more at stake than one might be comfortable with. It’s not for the faint of heart, and only those who are well-prepared and experienced should venture into the world of prop trading.
    The promises of high profits can be alluring, but it’s crucial to understand the immense pressure and responsibility that come with managing substantial sums of capital. Even seasoned traders can face significant losses, and the pressure can be overwhelming for newcomers. I believe that, in most cases, it’s safer to pursue a more traditional trading approach with a reputable broker and a well-defined strategy.

  3. Tendaji Alakija

    Prop trading at its finest

    I have not really seen many prop trading platforms but out of the ones I have seen, I like ultimate traders best. I do not mean to say they are perfect, but they offer a lot of services and conditions that are favorable to traders.

  4. Emilio D-a


    To remain a partner of this company I need to keep my daily losses under 6%.
    This is quite difficult for me as my trading style combines risk and high profit. I can lose 20% on monday and gain 50% on tuesday.
    But now I have become more conservative trader in order to remain company’s client. It makes me uncomfortable, but I get excellent income.
    I guess this is something I need to get used to.

  5. Vicente Secada

    Company trusts traders but checks their skills.

    Warning! Cheating review!

    I thought it would be enough to pass the assessment if I provide my trading statistics. But it turned out that company has its own regulations and I have to pass certain stages before I can start trading on a real account.
    I can’t say it was a big problem as my trading is stable and I passed the evaluation procedure quite easily. I am a bit sad about the time spent.
    Although it is compensated by profits I am making now.

  6. Aitor Saez

    My trading type

    Warning! Cheating review!

    I like the concept of prop trading very much. But it took me some time to find the Ultimate traders to have the trading conditions that I want and that would align with my strategy in the first place.
    The withdrawal using Deel is a bit confusing. Yet when you do that a couple of times then it becomes easy.

  7. Julio Alvizo


    Warning! Cheating review!

    I improved my trading drastically with the Utimate traders. I really believe that with prop trading you get more responsible when trading.
    Hence I don’t open the orders if I am not sure in my analytics. Which was definitely the problem when I was trading on my own.
    And it goes without saying that increased deposit helps a lot to make bigger profits.

  8. Saul Hernan

    No extras.

    Warning! Cheating review!

    Trading with a prop trading platform is not easy, we all know. Without the limits, it is a pretty heavy mental strain. And then you have the trading limits, which are absolutely necessary.

    But if you decide to trade with a prop platform, there are no companies that I have found that are better than ultimate traders. All of their conditions are just right.

  9. Clinton

    I trade by the rules and make a profit in return.

    Warning! Cheating review!

    For me trading is freedom and I don’t like when something limits my freedom… But for this prop company I made an exception.
    I trade according to the rules that company has set for its traders. And in return I get higher profit than from active trading.
    This compromise is beneficial for me and for this prop company. After all, I trade efficiently and don’t break any rules, which brings profit to company. And at the same time I get a good profit from them.