Ultimate Traders Review: Legit Prop Firm Or A Scam?

Ultimate Traders Review

I’m thrilled to have you dive into my comprehensive Ultimate Traders Review.

Ultimate Traders claims to offer a unique opportunity that allows you to tap into your trading potential by utilizing their capital in the dynamic world of forex trading.

They assert that their program is your stage to display your trading prowess, enabling you to achieve your highest potential in the trading arena.

As a strategic move to boost your chances of success, the company alleges they will share a generous portion of your trading profits, possibly up to a remarkable 90%.

Moreover, they dangle the prospect of scaling your trading account to a substantial balance of up to $400,000.

However, it’s crucial not to base your decision solely on these claims when considering joining the platform.

In this review, I aim to reveal the unvarnished truth and equip you with a comprehensive understanding of the company.

Throughout this journey, we’ll dive into what the program entails, how it operates, and the pricing structure you’ll need to navigate to access its services.

So, with that in mind, let’s dive right in and uncover the whole story.

Table of Contents

The Ultimate Traders Review Summary

Name: Ultimate Traders

Product Type: Proprietary Firm

Evaluation Fee: Starting from $99, depending on your chosen account size.

Year Founded: 2022

Official Website: https://www.ultimatetraders.com/

Headquarters & Location: London, England (71-75 Shelton Street, London, England WC2H 9JQ, GB)

Contact Email Address: info@ultimatetraders.com

Chief Revenue Officer(CRO): Panayiotis Christodoulou

Overall Rating: 7/10

My Recommendation: Yes, but not for everyone.

The Ultimate Traders Review – Overview

Ultimate Traders Review

The Ultimate Traders platform aims to help unlock your trading potential through its online funding program.

Depending on your preferred account size, you can choose from a single-phase and double-phase evaluation.

The program then allows you to earn up to 90% of your profits with a refund of your registration fee once you reach a funded account.

On the other hand, the company provides numerous account sizes starting from as low as a $10,000 balance.

This makes it a better option for talented traders who lack the capital to purchase larger package account sizes in the platform.

Like other prop firms in the forex market, Ultimate Traders provides a scaling opportunity that helps you increase your account size to $400,000.

This allows traders with smaller account sizes to grow their accounts to the preferred sizes.

Related Review: ProFund888

Pros Of The Ultimate Traders

  • Excellent profit share of up to 90%.
  • Good customer support services.
  • Offers numerous account size options
  • Unlimited trading days.
  • Allows news trading on the platform.
  • Offers a refund of the registration fee upon making your first withdrawal.
  • All the challenges are capable of running on different servers.

Cons The Ultimate Traders

  • Doesn’t offer a free retry.
  • Only Targets highly skilled traders.
  • Not available in some countries facing sanctions.

Who Should Join The Ultimate Traders?

The Ultimate Traders Review

The Ultimate Traders platform has an open-door policy, welcoming individuals aged 18 and above to participate in their funding program.

They firmly believe that trading talent knows no boundaries and can emerge from any walk of life.

So, no special qualifications are required to get started.

However, if you’re relatively new to financial trading, the prop firm offers caution.

They don’t recommend diving into their funding program right away.

Here’s why: They subject newcomers to an evaluation or test, which can be quite challenging without prior trading experience.

If you don’t pass this test, unfortunately, you won’t have the opportunity to trade with the company’s funds on their platform.

Additionally, there are a couple of eligibility restrictions to keep in mind.

The Ultimate Traders platform doesn’t accept traders from countries listed by OFAC (Office of Foreign Assets Control).

These countries face international sanctions that limit their access to global services.

Furthermore, the company screens potential traders for criminal records related to terrorism or financial crimes.

If you fall into this category, you won’t be eligible to join their platform.

Lastly, if you’ve previously enjoyed being one of their traders under their funded program but faced an account suspension, you won’t be able to continue trading on their platform.

They maintain this policy to ensure the integrity of their services.

Who Is The Founder/CEO Of Ultimate Traders?

I obtained valuable insights from an administrator within the Funding Pips Discord group concerning the leadership structure of this proprietary trading firm.

Firstly, it’s important to note that this firm operates without a traditional CEO.

Instead, it is under the guidance and leadership of Panayiotis Christodoulou (pictured below), who holds the title of Chief Revenue Officer (CRO).

Mr. Christodoulou not only led the company but also played a pivotal role in its establishment from the ground up, actively overseeing its operations.

Furthermore, during my investigation, I successfully obtained their contact information, which included their office email and the precise location of their headquarters.

This discovery is significant as it provides a clear avenue for communication and a better understanding of their physical presence.

What Is Ultimate Traders?

Ultimate Traders is a proprietary trading firm that offers you the chance to step into the world of forex trading through their unique funding program.

But before you dive in, they want to see if you’ve got what it takes.

So, here’s the deal: Ultimate Traders allows traders like you to prove your ability in the forex market.

They do this by putting you through either a single-phase or double-phase evaluation process.

During this evaluation, it’s your time to shine.

You must demonstrate your trading skills by hitting specific profit targets and adhering to their rules.

Once you pass this evaluation, you’ll get the green light to trade with real funds in a funded account.

But wait, there’s more!

Ultimate Traders is all about rewarding your hard work.

They offer you a profit share that can reach an impressive 90% of your total profits from your trading efforts.

Plus, they allow you to trade with larger account sizes, capping out at a generous $400,000.

Now, here’s where the flexibility comes in.

You can choose your funded account within the program, tailoring it to your preferences.

Also Read: OFP Funding Review

What Are The Steps Of Joining Ultimate Traders?

To join the Ultimate Traders prop firm, you’ll have to follow the steps below:

Step One: Register For The Ultimate Trader Challenges

You must submit your details to the platform for reference in your registration.

You’ll then have to choose between the speedy challenge and the classic one that suits you best.

When trading with company capital, the challenges test your profitability and risk management skills.

Step Two: Making Account Choices

When choosing your trading account challenges, you must consider the phases of each account type.

For instance, if you choose the classic challenge, you must pass through two-phase challenges before moving to a funded account.

If you opt for the speedy challenge, you must pass just one phase to qualify for a funded account.

Meeting the evaluation qualifications and profit targets opens the door to joining a funded account.

How Does The Ultimate Traders Work?

The Ultimate Traders platform allows you to trade with their capital in the forex market.

They are eager to support talented traders like you worldwide in achieving financial freedom.

To kickstart your trading journey on the platform, you start by selecting your account type and its corresponding size.

You have two options here: the classic challenge and the speedy challenge.

Classic Challenge

The Ultimate Traders Review

In the classic challenge, traders must pay an initial registration fee depending on their chosen account size.

Here are the available account sizes in the classic challenge:

  • $10,000 account
  • $20,000 account
  • $50,000 account
  • $100,000 account
  • $200,000 account
  • $400,000 account

To discover the specific prices for each of these account sizes, please take a moment to check the pricing section in this review.

Once your payment is confirmed, the company will promptly provide you with login details to complete your purchase.

From there, you can embark on your trading journey, starting with the evaluation process before progressing to a funded account.

Classic Challenge Evaluation Stage

The evaluation process of a classic challenge consists of two phases, which include the following:

  • Phase One: Challenge

This is the first phase of your evaluation, where you must meet the set targets to proceed to the next phase.

The targets include reaching the set profit target while respecting all the other trading rules on the platform.

  • Phase Two: Verification Stage

The second phase of the evaluation stage is the verification stage, which finalizes the challenge set in the program.

In this phase, traders must reach the set profit target while respecting the other rules set in the platform.

In so doing, the trader will qualify for a funded account to become an Ultimate trader.

  • Funded Live Account

After completing the evaluation phases one and two, you’ll qualify for the funded account in the program.

You will be invited to become an ultimate trader, enabling you to access the live-funded account.

In the live funded account, you will start trading with real funds as the demo account ends when the evaluation stage is completed.

The Ultimate Traders prop firm funds traders equal to the amount used in the evaluation stage.

For instance, when trading on a $10,000 account balance in your evaluation stage, you will be awarded a corresponding $10,000 in your funded account.

The prop firm also promises to help you increase your account balance to a maximum of $400,000 based on your profitability.

A third party will handle the onboarding of the trading process once the KYC is completed on the platform.

Speedy Challenge

The Ultimate Traders Review

In the speedy challenge, the trader must pay a registration fee matching your account size fee.

Here are the available account sizes in the Speedy Challenge account:

  • $10,000 account
  • $20,000 account
  • $50,000 account
  • $100,000 account
  • $200,000 account
  • $400,000 account

To discover the specific prices for each of these account sizes, please take a moment to check the pricing section in this review.

Once your payment is confirmed, the company will promptly provide you with login details to complete your purchase.

From there, you can embark on your trading journey, starting with the evaluation process before progressing to a funded account.

  • Phase One Challenge

This is the only phase in the evaluation stage of the speedy challenge, which requires you to pass the set profit target.

Before passing this stage, the company also requires you to respect all the other trading rules available on the platform.

If you successfully pass the challenge, you will qualify for a funded account in the platform.

  • Funded Live Account

You will be invited to become a funded ultimate trader if you complete your evaluation stage.

This will give you access to a live funded account where you will be trading with real money and earning the profits from your trading.

The prop firm also allows you to trade on account balances similar to those you used in the evaluation stage.

The prop firm also qualifies you for a scaling plan that increases your account size to a maximum balance of $400,000.

However, the scaling plan is based on your performance in the market and how you manage the trading rules set in the program.

For instance, if you are highly profitable in your trading journey, you will stand a chance for a scaling plan.

If you do not meet the required profit targets, you may not likely qualify for scaling opportunities in the program.

Once the KYC verification is completed, the onboarding of all the funds in the program is handled by a third party.

Ultimate Traders Trading Rules

Ultimate Traders Review

Profit Targets

The profit target available in the prop firm depends on the account challenge you choose.

In the Classic challenge account, there are two profit targets set in its evaluation stage, which are as follows:

Phase one of the evaluation requires you to reach a profit target of 10% to proceed to the next level.

In phase two of the evaluation, you must reach a profit target of 5% to enable you to proceed to a funded account.

On the other hand, the speedy challenge requires you to reach a profit target of 10% in their single-phase evaluation for you to move to a funded account.

Maximum Drawdown

The maximum drawdown for the classic challenge is 12%, calculated based on your initial account balance.

Daily Drawdown

The daily drawdown is the maximum amount of money you cannot lose in a single trading day.

The maximum daily drawdown is 6% in the classic challenge account, calculated based on your initial account balance.

In the Speedy challenge, the maximum daily drawdown is 4%, calculated based on your account balance.

Profit Share

The Ultimate Traders Review

You can withdraw This total profit from your trading account on the platform.

Ultimate Trader platform allows you to withdraw up to 90% of your profits from your trading process.

Minimum Trading Days

The Ultimate Traders platform sets their minimum trading days at three for all the two account challenges.

News Trading

The Ultimate Traders prop firm allows you to trade news on their platform.

Maximum Trading Days

The Ultimate Traders platform has unlimited trading days for traders to complete a single stage of their trading process.

Weekend Trading

The prop firm does not allow traders to hold their trades on the platform on weekends.

The Trading Instruments Available On The Ultimate Traders

The Ultimate Traders platform allows you to trade a variety of trading instruments, which include the following:

  • Forex pair
  • Indices
  • Cryptocurrencies
  • Stock
  • Silver
  • Gold
  • Oil

Trading Leverage

Ultimate Traders prop firm allows you to trade with a higher leverage for each trading instrument as follows:

  • Forex pairs, 1:100 for the classic challenge and 1:30 for the speedy challenge.
  • Commodities: 1:10 for the classic challenge and 1:5 for the speedy challenge.
  • Indices: 1:10 for the classic challenge and 1:5 for the speedy challenge.
  • Cryptocurrencies, 1:3 for classic challenge and 1:2 for speedy challenge.

What Is An Ultimate Traders Trusted Broker?

The Ultimate Traders prop firm uses the T4Trade platform as its official broker.

The prop firm uses T4Trade as their favorite choice due to their minimal fees and super low spreads in the forex market.

On the other hand, Ultimate Trader uses MeterTrader4 and MeterTrader5 as their trading platform.

For this reason, you must ensure your device accepts and can operate these two devices before using it to trade.

What Are The Benefits Of Joining Ultimate Traders?

Ultimate Traders Review

  • Excellent profit share

The prop firm offers the best profit share, ranging up to 90% of the total profits made in the platform.

This motivates traders to put more effort towards trading and achieving the best out of their trading.

  • Unlimited trading days

When you join the Ultimate Traders prop firm, you will not have to worry about the maximum trading days on the platform.

The company allows you to trade at your own pace and achieve the best out of your trade, irrespective of your trading level.

The unlimited trading days apply to all the account types available on the platform.

  • Offers multiple options for account sizes

The prop firm provides you with numerous account sizes depending on your wallet.

If you have a lower fee, you may go for a smaller account size, and you can also choose a more extensive one if you have a higher capital.

This makes the prop firm more affordable to most traders in the forex market than other firms.

What Is The Cost Of Joining The Ultimate Traders?

Ultimate Traders Review

The cost of joining the Ultimate Traders platform depends on the account type you choose in your trading platform.

Here are the trading account challenges, their account balances, and the corresponding prices in the program.

  • Classic Challenge

The classic challenge consists of the following account sizes with the corresponding prices:

  • $10,000 account size that costs $99.
  • $20,000 account size that costs $149.
  • $50,000 account size that costs $299.
  • $100,000 account size that cost $499.
  • $200,000 account size that costs $899.
  • $400,000 account size that cost $1,799.

Speedy Challenge

In the classic challenge, here are the available account sizes and their corresponding prices:

  • $10,000 account size that cost $199.
  • $20,000 account size that costs $199.
  • $50,000 account size that costs $399.
  • $100,000 account size that cost $659.
  • $200,000 account size that cost $1,299.
  • $400,000 account size that cost $2,199.

Payout On Ultimate Traders

Ultimate Traders Review

The funded stage of the prop firm is run by the third party that handles your withdrawal request on the platform.

The Ultimate Traders platform allows you to withdraw up to 90% of the total profits you make on the platform.

You can request a withdrawal when trading on the live funded account and have profits.

In addition, the prop firm only permits you to withdraw once a month; you must wait another month to request another payout.

Failing to respect this rule will deny you the opportunity to access your funds when making withdrawal requests on the platform.

Note that the withdrawal request is made in the client area to enable the processing of your profits.

Once the processing is complete, your profits will be sent to your Deel account, allowing you to withdraw the funds to your preferred bank.

Refund Policy On Ultimate Traders

The Ultimate Traders platform allows you to reclaim your registration fee from their platform, but on some conditions.

The traders must complete their evaluation stage and move to a funded account to qualify for the refund.

The refund is only available when you succeed in making your first withdrawal requests of the profits in the platform.

It is withdrawn as part of your first profit share in the platform and applies to classic and speedy challenges.

Important: FunderPro Review

Is Ultimate Traders The Real Deal Or Just Another Scam?

In my assessment, Ultimate Traders is not a scam.

They claim to offer an avenue for you to explore your trading potential through their funding program.

Their goal is to seek out talented traders from across the globe and provide them with the capital needed to flourish in the forex market.

However, it’s important to note that Ultimate Traders isn’t for everyone.

They specifically target individuals who can demonstrate their trading prowess on the forex market.

To put your skills to the test, they subject you to an evaluation process.

During this phase, you’ll need to showcase your trading abilities and prove that you can manage risks while adhering to their trading rules.

Here’s the catch: If you don’t play by the rules, your account may be compromised, hindering your path to financial success.

Ultimate Traders doesn’t offer free retries to traders, which means if you fail the evaluation stage, you’ll need to purchase a new account and start from scratch.

For this reason, the Ultimate Traders platform isn’t a one-size-fits-all solution.

It’s best suited for experienced traders with a solid foundation in the forex market who lack the necessary capital to trade.

If you’re a beginner without much financial experience, I advise you to steer clear of this prop firm.

Also, I recommend checking their reputation on platforms such as Trustpilot.

It’s worth noting that they have just one review as of the time of writing this review.

This indicates that the prop firm is relatively new in the market.

Therefore, it’s essential to exercise caution and make a well-informed decision before considering joining this platform, regardless of your experience level.

My Assessment Of Ultimate Traders

Profit Splits: 9/10

Ultimate Traders is one of the best prop firms offering excellent profit shares in the forex market.

The prop firm offers traders a profit share of up to 90%, allowing them to maximize their earnings in the market.

The high-profit shares motivate traders to achieve more and grow their account sizes.

Scaling Opportunities: 4/10

The prop firm presents an enticing opportunity to increase your account balance to a maximum of $400,000.

However, they fail to explain the scaling plan, particularly the qualifications needed to participate.

As a result, it’s challenging to anticipate the specific requirements for this scaling opportunity.

Profit Targets: 6/10

The profit targets set in the prop firm are within the range of the common targets set by other firms in the forex market.

For instance, they set a profit target of 10% for challenge and 5% for verification stages, similar to most prop firms’ figures.

This makes almost no difference compared to how most prop firms set up in the forex market.

Affordability: 8/10

Ultimate Traders is one of the most affordable platforms in the forex market, offering their funding at as low as $99.

Their account balances start as low as $10,000, making it a suitable option for talented traders who have lower financial income.

In addition, its affordability varies depending on your wallet, as you can get up to a $400,000 account size at an affordable price.

Trader Supports: 7/10

Ultimate Traders also offers good customer support to make all traders succeed in their trading journey.

The company encourages traders to contact their support team and ask questions in their treader support program.

The prop firm claims that its expert support team has outstanding trading experience.

This enables them to feel ready to efficiently answer all the available questions from their traders on the platform.

Tradable Assets: 7/10

The Ultimate Traders allows traders to choose from various tradable assets in the platform.

They include forex pairs, commodities, indices, stocks, cryptocurrencies, gold, silver, etc.

This allows traders to have multiple options for trading on the platform.

Trustworthiness: 7/10

Additionally, their lack of sufficient reviews on websites like Trustpilot diminishes their trustworthiness.

It’s important to note that I don’t rely on the testimonials featured on their website, as such testimonials are often tailored to attract potential customers.

My Overall Rating

Overall, I would rate Ultimate Traders as a 7/10.

I’ll periodically update it based on their performance as time progresses.

What Are People Saying

Here is what people are saying about Ultimate Traders prop firm online:


Ultimate Traders Review

Ultimate Traders prop firm only has one review in the Trustpilot platform at the time of this publication.

The prop firm is awarded an average rating of 3.7/5.

FAQs About Ultimate Traders

Do I Need To Place A Stop Loss On All Trades In Ultimate Traders?

The prop firm requires you to place a stop loss in all the placed trades.

The platform automatically closes the trade if no stop loss is placed on a trade.

However, it is not considered a breach of the trading rules and, hence, can’t lead to the suspension of your account.

What Is The Maximum Number Of Slots I Can Trade On The Ultimate Traders?

The maximum number of open positions at any time permitted in the Ultimate Traders platform is 200.

On the other hand, the maximum number of pending orders accepted in the platform is 2000.

These numbers are more than enough for a pragmatic trading strategy that helps safeguard against any potential abuse.

Are Evaluation Phases Run On A Live Account With The Funding Program?

The Ultimate Traders doesn’t run the evaluation phases on a live account.

This means you will trade with virtual funds in your evaluation stage before qualifying for a funded account.

Even though the demo account simulates a real trading environment, you will not be able to receive a profit payout.

What If I Breach My Live Trading Accounts With Profits? Can I Still Withdraw All The Profits From The Account?

You cannot withdraw profits when your funded account is closed due to breaking the maximum loss or daily loss limit rules.

Your live trading account will automatically be closed, limiting you from continuing your trading journey on the platform.

However, other soft breaching searches, such as placing a trade in the platform without a stop loss, may not lead to the suspension of your account despite the closure.

If I Pay For My Challenge, When Will I Get My Trading Account?

After receiving your payment, your trading account will be generated in a few hours to allow you to get started with your trading journey immediately.

When the processing is complete, you will receive an email notification with the link to download the platform.

The notification email also contains the login account credentials to enable you to access your account.

Thank you for reading my Ultimate Traders Review.

Feel free to comment in the section below if you have a comment or concern.

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