There are no Ultimate Traders reviews on the Forex Peace Army (FPA), which is a red flag. On Trustpilot, the firm has few reviews (below 100) and it is difficult to define how reliable the firm is as these reviews are mixed, some of them being positive but others being critical of the firm. When it comes to experience, the firm was launched in 2023, which makes it inexperienced in the prop trading industry. Additionally, all funded challenge accounts are demo accounts, meaning traders only access simulated trading accounts, which is also a big downside for the firm. 

The firm gets a 0 score in this section for lacking all important safety factors.

Ultimate Traders funded programs are two, the classic which is a 2-step challenge, and speedy which is a 1-step evaluation model. The Same Ultimate Traders funding options are available for both challenge types. The list of funding options includes 5k, 10k, 25k, 50k, 100k, and 200k USD. There are no Ultimate Traders challenges that offer smaller challenges or 1 million USD accounts which is a downside for the firm. When it comes to Ultimate Traders scaling plan, the firm does not offer any scaling program, which is a huge downside for traders who want to grow their accounts at their own pace. 

Overall, the firm gets a 3 score in this section. 

Ultimate Traders prop trading assets include popular asset classes such as Forex pairs (majors and minors), commodities (precious metals, energies), popular indexes, and a handful of cryptos. The leverage is 1:30 for speedy (1-step), and up to 1:00 for the classic (2-step) challenges.

There is no possibility to access stocks or futures as the firm only offers MT4 as the main platform.

As a result, the firm gets a 3 score in this section. 

Ultimate Traders rules are different for each funded account type. Let’s compare them for a clearer picture.

The classic (2-step) challenge rules:

• Profit target - 10%, 5%
• Daily loss limit - 6%
• Maximum drawdown - 12%
• Minimum trading days - 3

The Speedy (1-step) Challenge rules:

• Profit target - 10%
• Daily loss limit - 4%
• Maximum drawdown - 6%
• Minimum trading days - 3 days

The firm does not allow EAs which is a downside. News trading is only possible by purchasing an add-on during account registration. 

For offering strict rules, the firm gets a 1.2 score in this section. 

Pricing is competitive at Ultimate Traders. The smallest fee starts from 49 USD for the 5k 2-step (classic) challenge. Traders can increase profit split to 90% and get permission to trade during news using paid add-ons. Let’s compare pricing for each challenge and funding option. 

The classic (2-step) challenge one-time fees:

• Funded amount: 5,000 USD - one-time fee: 49 USD
• 10k USD - 99 USD
• 25k USD - 169 USD
• 50k USD - 299 USD
• 100k USD - 499 USD
• 200k USD - 899 USD

The Speedy (1-step) Challenge one-time fees:

• Funded amount: 5,000 USD - one-time fee: 79 USD
• 10k USD - 129 USD
• 25k USD - 229 USD
• 50k USD - 399 USD
• 100k USD - 659 USD
• 200k USD - 1,299 USD

As we can see, the pricing is really competitive for both challenge types, which allows traders to get affordable challenge accounts. 

Ultimate Traders free trial is not available and the Ultimate Traders free repeat is not accessible either, which is a big downside. The firm does not allow traders to test trading conditions and develop tailored trading strategies to pass challenges, which is a serious disadvantage. Spreads are higher than 0 pips, which makes it difficult to deploy scalping strategies, which is also a drawback. 

Overall, the firm gets a 3 score in this section.

The firm offers access to the advanced MetaTrader 4 (MT4) trading platform. It sometimes allows EAs as well, but it is unclear when traders can use EAs, meaning the firm can decide if it allows traders to pass the challenge using Expert Advisors. We assume that EAs are not allowed, which is a downside. Mobile trading is available via the MT4 mobile app.

The firm gets a 3 score in this section for not allowing traders to use MT4 at its full capacity. 

Ultimate Traders profit split starts from 70% which is competitive but still not very high. However, traders can increase it to 90% using a paid add-on. Withdrawals take 1-3 business days, which is a bit slow.

The firm gets a 3 score in this section. 

The firm does not provide educational resources, which is a big downside for beginners. There are no webinars, trading courses, or video guides provided to enhance traders’ knowledge. The firm also is not offering a trading blog, which is yet another downside. There are no tools to assist traders, either.

As a result, the firm gets a 0 score in this section. 

Customer support is a critical part of assessing prop firms' safety. The firm does not offer live chat, which is a huge downside. There is no phone support either, only an email option is offered. Email support is usually a slow method and can not be used to quickly resolve any issue.

Both the website and email support are available in less than 5 languages, which is also a downside.

Overall, the firm gets a 1.2 score in this section for offering a horrible customer support experience.