The Ultima Investments Cyprus Limited

The Ultima Investments Cyprus Limited, previously known as BrokerCreditService (Cyprus) Limited, is a Cyprus-based investment firm that has been operating since 2004. It is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence number 048/04, classifying it as a Cypriot Investment Firm (CIF). The broker primarily serves retail and institutional clients, as well as high net-worth individuals and family offices, offering a suite of securities-related services including execution, custody, and portfolio management.

The firm changed its name to The Ultima Investments Cyprus Limited and operates under the domain theultimacy.com. It also maintains a presence on the Astana International Exchange (AIX) as a member. The broker’s focus is on providing access to major US exchanges such as NASDAQ, NYSE, and NYSE MKT, along with a range of international and Russian securities.

The Ultima Investments Cyprus Limited is regulated by CySEC, which is a full member of the European Securities and Markets Authority (ESMA). The licence is currently active and authorised, meaning the broker must comply with EU financial regulations, including client money segregation, capital adequacy requirements, and investor compensation scheme membership (ICF up to €20,000 per client). The broker’s CySEC authorisation is publicly verifiable on the regulator’s website.

FXCanary’s scam risk score is 34 out of 100, indicating a guarded level of risk. While regulation by CySEC provides a baseline of protection, traders should still conduct due diligence and be aware that historical corporate changes or past involvement with Russian markets may introduce complexities.

The broker offers the QUIK (Quick Information System) trading platform, which is widely used for Russian and international markets. The platform supports equities, bonds, futures, ETFs, and mutual funds. Access to US exchanges is provided through electronic order routing. The broker also mentions OTC trading and forex trading via QUIK, though forex appears to be a secondary offering rather than a core focus.

The instrument list includes US equities, Russian equities and bonds, international bonds, and currencies. Clients can trade on-exchange (e.g., NYSE, NASDAQ) or off-exchange/OTC. The broker does not appear to offer leveraged retail forex or CFDs in the typical sense, focusing instead on securities execution and custody.

The Ultima Investments Cyprus Limited categorises its clients into retail, institutional, portfolio management, and high net-worth individuals & family offices (HNWI&FO). Each category has tailored fee schedules and terms of business. For retail clients, the broker provides standard execution and custody services, while institutional and HNWI clients may access additional services such as prime brokerage, lending, and dedicated relationship management.

The broker’s website provides separate pages for retail brokerage, institutional business, portfolio management, and HNWI services, each with their own documentation, fee schedules, and terms. This segmentation suggests a flexible approach to client servicing, but specific account opening requirements and minimum deposits are not clearly stated on the site.

The broker publishes fee schedules that are effective from various dates in 2025 and 2026. For US equities executed on-exchange, the fee is 1.5 cents per share with a $12 minimum. Off-exchange and OTC trades have different fee structures: for example, international bonds and Russian bonds carry a 0.25% fee with a $200 minimum per instruction. Equities and ETFs may also have custody fees (10% annual rate for foreign securities).

FX and short-term treasury notes via QUIK and OTC are charged at 0.1% to 0.25% of the transaction volume. These fees are relatively high compared to discount brokers, but they reflect a full-service, potentially institutional-grade offering. Clients should review the latest fee schedules and cost disclosures, as they are updated periodically.

Given its focus on securities trading, custody, and portfolio management, The Ultima Cyprus is best suited for experienced investors who require direct market access to US and Russian exchanges. It may appeal to institutional clients, high net-worth individuals, and family offices looking for a regulated broker with a long track record. Retail traders seeking leveraged forex/CFD trading or low-cost equity commissions may find better alternatives elsewhere.

The broker’s previous association with BrokerCreditService (Cyprus) Limited and its links to Russian markets mean that clients should consider geopolitical risks and sanctions compliance. The broker itself warns clients to ensure compliance with applicable sanctions before transacting.

The Ultima Cyprus has issued a prominent fraud alert on its website, warning that impersonators are contacting people via messaging apps claiming to represent the firm. The broker explicitly states that it does not communicate via WhatsApp, Telegram, Viber, or similar platforms. Legitimate communication is conducted through official channels only. This is a sign that the broker is proactive in protecting its clients, but it also indicates that cloning and phishing attempts are an ongoing issue.

Traders should exercise caution and always verify any unsolicited communication by contacting the broker directly through the official website or phone number listed on the CySEC register.