UltraCap Trading Review 2024: Is it a legit or scam
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Read to find out about UltraCap Trading Firm Review, How to Pass Funded Challenge, and Much More

UltraCap Trading Review and Analysis

Overview

UltraCap Trading Prop Firm

Headquartered in Sydney, Australia, UltraCap Trading is a reputable Trader Recruitment Firm, fully registered and compliant with the Australian Securities and Investments Commission (ASIC). It was initially set up in 2021, with the vision of revolutionizing the conventional funding landscape and empower individual traders to forge enduring careers.

The alternative proposition put forward by UltraCap centers around identifying and recruiting traders based on their inherent qualities, exceptional talent, and capacity to excel within a partner-guided, transparent platform.

UltraCap offers a reliable platform and trading environment for both simulated and live trading and operates through secure and reputable mainstream broker platforms. However, in contrast to traditional brokers, UltraCap does not engage in slippage, manipulate spreads, or control price delivery or liquidity.

Funded Accounts

UltraCap Trading Funded Account

UltraCap offers different types of funded accounts geared to cater to the trading needs of traders of different types and abilities. Moreover, Islamic traders can trade through no Riba, no spread accounts on the MT5 platform.

The flagship product is the UltraSmart trading plan, offering the highest pass rates compared to any existing trader funding evaluation, audition or challenge. Crafted with a focus on achievable trading performance, the UltraSmart plan is meticulously structured in order to ensure that traders who consistently execute trades with a low-risk profile will successfully pass. This plan boasts a notably high non-trailing stop-out limit, a conservative profit target, and a generous 2% risk exposure per symbol, all geared toward fostering sustainable and realistic trading practices.

The UltraFlex plan is flexible as its name implies and tailored for seasoned traders aiming for a blend of adaptability, risk control, and expanded choices. This plan harmonizes authentic trading parameters with access to a diverse array of over 100 FX, Commodities, and Indices markets. For adept traders, UltraFlex requires achieving a 9% gain without incurring a 5% loss. It offers a range of advantages, including increased market options, enhanced flexibility, extended timeframes, all accompanied by the absence of relative drawdown constraints.

Finally, the UltraPro plan as revealed by its name is geared towards accomplished traders with a proven and consistent track record. As such it allows them to be able to skip the challenge phase and through a live account from the first day. To qualify for the discounted starting cost, traders need to provide either proof of consistency in the form of past results or proof of live funding with another prop firm. Alternatively, they may also provide a minimum of 12 months of live trading reports from a regulated broker platform that display consistency, risk management and growth.

Challenge Overview

How to Pass the UltraCap Trading Challenge

The Accreditation Program at UltraCap Trading is your pathway to becoming a professional trader. It's a process that evaluates your trading skills, risk management, and consistency in strategy. You start by choosing a trading plan, then demonstrate your skills in a trading phase, followed by a Quick Strategy Check. Successful completion leads to joining UltraCap's trading ecosystem.

Traders usually take about 4 months to get funded. Some achieve funding in 3-4 weeks, while others may take 1-1.5 years with multiple attempts. It takes around 6.5 months to achieve consistency after passing, and traders typically attempt the accreditation plan about 2.8 times before passing. Once you successfully complete the Accreditation Program, you move to the onboarding phase. This involves verifying your identity and signing contracts, followed by an offer for a funded trading account

Pros and Cons

Let’s talk about the good stuff…

UltraCap Trading Benefits

UltraCap Trading differs from the archetype of modern online proprietary firms, since it operates as a traditional trader recruitment company within the online domain, meticulously adhering to the laws and regulations of their jurisdiction. Being ASIC registered and possessing LEI registration for transparency, this firm operates under the stringent framework of Australian regulations and consumer laws and works towards the identification and recruitment of adept traders to join them as contracted live traders. Specifically, UltraCap is especially suited to those traders who are dedicated to building long-term, disciplined careers, working closely with their risk managers to achieve this goal.

Diverging from the practices of numerous online proprietary firms functioning purely as marketing entities or led by individuals with failed business ventures, UltraCap Trading boasts a foundation established almost three years ago by four seasoned retail traders. Their core principles revolve around astute risk management and an unwavering commitment to the trading business. Their ethos centers on forging authentic, enduring relationships with traders—a symbiotic alliance that benefits both parties. The contractual arrangements are governed by Australian employment and contractor laws, ensuring an exceptional level of trust, transparency, legitimacy, and reliability in their collaborations.

Their approach stands out—they refrain from presuming the failure of traders; instead, they provide traders with the space to showcase their trading expertise. This unique perspective drives them to offer some of the most attainable plans, such as the 'UltraSmart,' and one of the most flexible options, available in the market the 'UltraFlex'. Their initiatives, including various add-ons, present traders with a range of choices. Their ultimate goal is clear: they thrive by funding traders and derive profits from trading data, rather than merely evaluating the success or failure of traders.

...and the bad

What is not to love about UltraCap Trading?

Although UltraCap Trading appears to be an inclusive platform that aims to accommodate traders from around the globe and its website is available in eleven different languages, there are limitations as to where prospective traders may be coming from, due to legal and regulatory constraints.

Specifically, traders must come from a country that is not under sanctions and is permitted to trade/transact with Australia. Thus, traders from Russian, Iran, North Korea and other areas of geopolitical instability may well not be allowed to trade through UltraCap Trading.

Another con is that UltraCap does not currently provide any proprietary trading tools or indicators, although their platform is designed to be compatible with various third-party tools.

Moreover, and though traders are allowed to use third-party tools, including Expert Advisors, they must ensure that these are in compliance with the strict trading rules and guidelines included in UltraCap’s terms and conditions.

Frequently Asked Questions (FAQs):

What is UltraCap Trading?
UltraCap Trading is an Australia-based firm specializing in recruiting, profiling, and managing top-tier retail trading talent.
Is UltraCap regulated?
While UltraCap Trading does not operate under a financial services license, as they focus on trading recruitment rather than providing financial products, they operate in strict compliance with the Australian Securities and Investments Commission (ASIC) and under Australian Consumer Law.
Is There a Demo Account?
While UltraCap Trading does not provide demo accounts as they are not a broker nor they manage the platform, they do recommend using demo services offered by the brokers they work with.
How trusted is UltraCap Trading?
The trusted source of information on fintech matters SBO, gave UltraCap Trading a 3.88/ 5.00 rating based on analysing 20+ criteria and testing. UltraCap Trading is currently in 4th place in this ranking. FunderPro is currently rank as the number one.

ULTRACAP TRADING Social proof

ULTRACAP TRADING Social proof is the reviews, testimonials, and social shares that customers provide about ULTRACAP TRADING that help lead others to make any purchase decisions. Last Updated Date: 02/12/2023
Channel UltraCap Trading Social proof
Instagram Account with 795 followers
Facebook Account with 271 followers
Twitter
Youtube
Telegram Does not have a Telegram channel
Discord Account with 171 followers

Traders comments and Reviews about ULTRACAP TRADING

Sites like Trustpilot provide excellent third-party social proof. Please be aware that there is no guarantee whether or not fake reviews are or are not present. These can lead to bias and compromise the reliability of reviews.
TrustPilot UltraCap Trading TrustPilot Customer Reviews, Feedback and Complaints
Trustpilot On Trustpilot, UltraCap Trading has currently 100 number of reviews with a TrustScore (the overall measurement of reviewer satisfaction) of 4.70/5.00. Reviewers embracing UltraCap Trading most frequently mention With low profit targets as low as 6%, and A high max-drawdown of 8%. UltraCap Trading also has a fast and reliable support team that will provide you with all the necessary information you require from them or if you are unsure of anything.

UltraCap Trading firm's reply behavior to negative reviews is up to the standard having replied to 79% negative reviews with a response time to their negative reviews in less than 14 days.

UltraCap Trading  Read TrustPilot Customer Reviews, Feedback and Complaints

Real Benefits according to the Positive Users' Reviews

  • With low profit targets as low as 6%
  • A high max-drawdown of 8%

Main Complains according to the Users' Reviews

  • UltraCap does not currently provide any proprietary trading tools or indicators
  • strict trading rules and guidelines when it comes to the use of EA
From my opinion, UltraCap Fund really wants you to succeed as a trader. With low profit targets as low as 6%, which is feasible and a high max-drawdown of 8%, which gives you plenty of wiggle room to work with.

TrustPilot Reviews' Key takeaway

Are you Satisfied with what They Offer?