Ultimate Traders Review 2024: Is It Worth Becoming an Ultimate Trader?

Prop firms are very popular in today’s modern age, however, not all of them are reliable. Despite not being required to obtain a license prior to starting the business, there are still some requirements those firms need to comply with. But how can you recognize a good company? 

Embark on this trading journey with us and read our Ultimate Traders review. From head to toe, we evaluate the firm’s features, operations, benefits, and drawbacks to determine if this company is the right prop choice. Additionally, make sure to check out TraderUP. 

About Ultimate Traders

The Ultimate Traders prop firm offers a challenge to elite traders with the opportunity to demonstrate their skills in a risk-free trading environment, all for a minimal upfront registration cost. Upon successful completion of the evaluation phases, traders can then move onto live funded accounts where they can manage funds of up to $400k and keep 90% of the profits. 

Traders must first test their skills during the challenge program. A set of rules must be followed and once certain targets are met successful traders are granted a trading account fully funded by the company. 

At a glance, the firm looks decent enough to invest in, however, further research for this Ultimate Traders review is needed before we deem them safe and reliable. 

Legal Information

Ultimate Traders Evaluation Ltd is a UK-based prop firm with registration number 14665391. According to the information we found online, the firm is an active company incorporated on 15 February 2023 with the registered office located in London.

Despite being located in the UK, the majority of their traders come from the Middle East and Asia, except for the United States. Apparently, UK investors are not very interested in this firm’s offerings. 

Prop firms are not required to be regulated, which is why it’s imperative to choose a regulated broker. Unfortunately, Ultimate Traders is paired with T4Trade. T4Trade is a broker that is regulated by the Seychelles Financial Services Authority. The regulator in the Seychelles is well-known for its lax regulations regarding broker license issuance. 

Ultimate Traders Features

Trading is done on the MT4 or MT5 platforms, which are arguably the world’s most popular trading platforms. At first, trading is done in a simulated version which is a demo account and later if you pass the challenge, you get access to a live account with T4Trade, an unregulated scam brokerage. 

The leverage offered differs on the asset you choose, where for forex it is 1:100, for commodities 1:10, for indices 1:5 and 1:10, and crypto 1:2 and 1:3. There is a set of rules to follow to become a funded trader and if you don’t, you risk getting your account blocked. 

The Ultimate Traders funded trading is decent, to say the least. Unfortunately, the broker they are partnered with is unreliable, as it is regulated by an offshore authority that pretty much hands out licenses to anyone who asks. Be careful if you end up using this prop firm. 

Ultimate Traders Plans

There aren’t any further expenses beyond the refundable assessment charge. They do, however, allow traders to add certain extras, each at a 10% charge over the registration cost. These consist of starting with an instant 90% profit sharing if they advance to the funded account, holding positions over the weekend, and trading without a required stop-loss.

Unlike with SuperFunded, you can manage accounts of up to $400k. There are two challenges traders can choose from before getting the Ultimate Traders funded account, including Classic and Speedy. Here is a breakdown of what to expect: 

Classic Challenge

• Min Trading Days 3
• Max Daily Loss 6% 
• Max Loss 12% 
• Leverage 1:100
• Profit Target 10%

Speedy Challenge

• Min Trading Days 3
• Max Daily Loss 4%
• Max Loss 6%
• Leverage 1:30
• Profit Target 10%

Ultimate Traders Affiliate Program

The referral program offers traders an opportunity to earn a commission while referring others to the prop firm. The affiliates can earn up to 20% of every challenge purchased by traders registered under their affiliate link. 

The number of referrals an affiliate sends through determines the tier level at which Ultimate Traders increases commissions to reward performance. Three levels of attainable commission exist: 

Premier 0-50 referrals

• 10% Commission

Elite 51-150 referrals

• 15% Commission

Ultimate 151+ referrals

• 20% Commission

Ultimate Traders Reviews

There are over 30 comments on Trustpilot, earning Ultimate Traders an overall score of 4.6. Considering they were established almost a year ago, the number of reviews seems legit. However, the surprising thing is that there are no unfavorable comments, only 4- and 5-star reviews. 

After checking Sitejabber, we were able to find only one bad comment among 16 reviews. The comment didn’t say anything about the prop firm, instead, they mentioned a problem while withdrawing funds from the broker. Still, despite this one comment, the firm has a score of 4.5.

Payment Options and Process

The only payment option accepted is a credit card, which induces all major cards like Visa, Mastercard, and American Express. To become a funded trader and start the evaluation process, one must deposit an evaluation fee, which depends on the account size. 

As an Ultimate Trader, you are entitled to 80% of your profits that can be requested for withdrawal via the Client Area. Once your request is processed, your profit share will be posted into your Deel account. You can then withdraw using any of their available methods.

Weighing the Pros and Cons

Can I Make Money While Trading Online?

Making money while trading online is certainly possible but only with the right company. If you end up using someone like Ultimate Traders, there is a chance you’ll experience some issues with the broker they’re paired with. We believe they might not be the right choice. 

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