The three Ultima Markets rebates links advertised on the rebate page returned $6.40, $14.40 and $22.40 per lot when checked on 16 October 2026. The larger payments come with one or two extra pips of spread. Whether a markup link saves you money depends on the pip value of the instrument you trade.
In this article, Backcom.io compares the net benefit of each link, treats gold separately, explains how existing clients can request an IB transfer, and lists the payout questions worth settling first.
What Are Ultima Markets Rebates, And Which Markets Qualify?
Ultima Markets rebates are payments based on eligible trading volume when an account is assigned to an introducing broker (IB). They come from the commission the broker pays the partner and do not depend on whether a trade wins or loses.
Estimated rebate = Eligible lots traded × Rebate per lot for your link
Ten eligible lots on No Markup would return 10 × $6.40 = $64. The rebate page states:
- Markets: Forex and gold (XAUUSD), with no other instruments listed.
- Payment schedule: Daily, after broker data is reconciled.
- Applicable rate: The rate attached to the link used to open the account.
For the underlying calculation, see how forex rebates work per lot. A rebate reduces part of a trading cost, but it does not erase every fee.
Ultima Markets Rebate Rates: No Markup, Markup 1 And Markup 2
Ultima Markets rebate rates depend on the registration link.
| Link | Spread | Rebate Per Lot (USD) | Referral Code | Payment |
|---|---|---|---|---|
| No Markup | Regular spread | 6.40 | yQAiI3Gi | Daily |
| Markup 1 | Plus 1 pip | 14.40 | P8K42x9R | Daily |
| Markup 2 | Plus 2 pips | 22.40 | BX0KiiF3 | Daily |
These figures, codes and conditions are from the Ultima Markets rebate page as at 16 October 2026. They apply to forex and XAUUSD and may change; check them before registering.
The featured code, BX0KiiF3, belongs to Markup 2 and carries two extra pips. If you want the regular spread, select No Markup and code yQAiI3Gi. A claim that the spread stays unchanged applies only to that option.
All three codes appear on the Ultima Markets rebate page. Backcom.io is an independent introducing broker (IB) for Ultima, and rebates come from commission paid by the broker to the partner. See the risk disclaimer.
What The Ultima Rebate Page Does Not Specify
Before trading, ask support for written answers to these points:
- Do Standard, ECN and Cent accounts qualify at the displayed rates?
- Does one “lot” mean one side or a completed round trip?
- Do cross pairs and JPY pairs receive the same rebate?
- On XAUUSD, how many dollars per ounce does “plus 1 pip” represent?
- What are the minimum withdrawal, payment methods and withdrawal fees for rebates?
Do Ultima Markets Markup Links Pay More? The $8 Per Pip Break-Even Point
Ultima Markets markup links exchange a wider spread for a higher rebate. Compare the extra rebate with the extra spread cost on the same account and currency pair.
Net benefit per lot = Link rebate − (Added pips × USD value of one pip per lot)
If pip values are unfamiliar, see how forex spreads work. Both markup options add the same rebate for each extra pip:
Extra rebate per added pip = ($14.40 − $6.40) ÷ 1 = ($22.40 − $6.40) ÷ 2 = $8
The break-even pip value against No Markup is $8 per pip per lot. Above that value, No Markup leaves more of the rebate after the added spread. Below it, a markup link looks better on paper.
The comparison assumes:
- One standard forex lot is 100,000 units, and EURUSD, GBPUSD and AUDUSD each have a $10 pip value per lot.
- The rebate is paid per eligible lot, while the extra spread is paid once across opening and closing the position.
- Every forex pair gets the displayed rebate and markup, although the rebate page has not confirmed this.
- Exchange rates below are illustrative assumptions, not live quotes. Pip values change as exchange rates change.
The table shows the net benefit in USD per lot against otherwise identical trading without a rebate:
| Pair And Assumed Rate | USD Value Of 1 Pip/Lot | No Markup | Markup 1 | Markup 2 |
|---|---|---|---|---|
| EURUSD, GBPUSD, AUDUSD | 10.00 | +6.40 | +4.40 | +2.40 |
| USDJPY at 150 | 6.67 | +6.40 | +7.73 | +9.07 |
| USDCAD at 1.40 | 7.14 | +6.40 | +7.26 | +8.11 |
| USDCHF at 0.80 | 12.50 | +6.40 | +1.90 | −2.60 |
| EURGBP (GBPUSD assumed at 1.30) | 13.00 | +6.40 | +1.40 | −3.60 |
On EURUSD, No Markup leaves $6.40 per lot. Markup 1 leaves $14.40 − $10 = $4.40; Markup 2 leaves $22.40 − $20 = $2.40. For USDJPY at the assumed rate of 150, a 1,000 JPY pip is worth about $6.67.
Each added pip buys $8 more rebate. The pip value tells you which link leaves more on paper.
That is why the $22.40 headline needs to be read alongside the cost of two extra pips.
Choose A Link By Your Main Currency Pair, Not Trading Volume
For EURUSD at $10 per pip per lot, increasing volume only scales the difference under these assumptions:
| Lots/Month | No Markup Rebate (USD) | Markup 1 Net (USD) | Markup 2 Net (USD) |
|---|---|---|---|
| 10 | 64 | 144 − 100 = 44 | 224 − 200 = 24 |
| 50 | 320 | 720 − 500 = 220 | 1,120 − 1,000 = 120 |
| 100 | 640 | 1,440 − 1,000 = 440 | 2,240 − 2,000 = 240 |
Trading more lots does not change the ranking. Use the pair responsible for most of your volume:
- EURUSD, GBPUSD and AUDUSD: At $10 per pip per lot, No Markup leaves more than either markup option.
- USDJPY and USDCAD: At the illustrative rates above, pip values are below $8, so markup looks better on paper. A different exchange rate or entry can alter the result.
- Mixed pairs: Multiply each pair’s net benefit per lot by its eligible lots, then add the results.
XAUUSD Gold: Check The Actual Spread Before Choosing A Link
The rebate page includes gold but does not define a XAUUSD “pip.” Check it before using the forex break-even rule:
- Ask support how many USD per ounce “plus 1 pip” means on XAUUSD.
- Check the live XAUUSD spread on MT4/MT5 and your account’s contract specifications.
- Convert the added spread into money and compare it with the additional rebate.
See the Ultima Markets trading fees guide, then compare the actual gold spread on each link.
Ultima Account Types And Legal Entities To Check Before Claiming Rebates
Ultima account types have different advertised spreads and commissions. The broker’s website lists:
| Account | Minimum Spread (Pips) | Commission Per Lot | Minimum Deposit (USD) | Maximum Leverage | Platform |
|---|---|---|---|---|---|
| Standard | 1.0 | $0 | 50 | 2000:1 | MT4/MT5, WebTrader, mobile |
| ECN | 0.0 | $5 round trip | 50 | 2000:1 | MT4/MT5, WebTrader, mobile |
| Standard Cent | 1.0 | 0, page states USD | 50 | 2000:1 | MT5 |
| ECN Cent | 0.0 | 5, page states USD | 50 | 2000:1 | MT5 |
Figures reflect Ultima’s account-type page as at 16 October 2026. Minimum advertised spreads are not actual spreads; confirm the commission unit for Cent accounts with the broker. See the Ultima Markets account-type table. The rebate page does not identify eligible account types, so it cannot establish an ECN net cost after commission. Compare account terms directly before choosing.
Which Ultima Entity Serves International Clients?
The legal entity on your agreement determines the applicable protections. One company’s licence does not automatically cover clients of another:
- Ultima Markets (Mauritius) Ltd: The website lists FSC Mauritius licence GB 23201593 and identifies this company as the product provider for international website clients.
- Ultima Markets UK Limited: FCA reference 470325 belongs to the UK company. Ultima says international website clients do not receive FCA protections, including FSCS compensation.
- Ultima Markets (Pty) Ltd: FSCA FSP 52497, acting as an intermediary connecting clients with the Mauritius product provider.
- CySEC 426/23: The CySEC register names Huaprime EU Ltd (ex Ultima Markets Cyprus Limited). Do not attribute that licence to an account opened through the international site.
On 25 September 2026, the Hong Kong SFC Alert List added the Mauritius entity, website and two Ultima-branded apps under suspicious websites. The SFC says deposits through the apps went to bank accounts with no apparent link to that entity and that the entity is not SFC-licensed. The warning concerns Hong Kong; check your contracting entity and the named payment recipient before depositing.
Trading rules and taxes vary by place of residence. Check the rules where you live and consult a local tax professional before depositing or receiving payouts. Broker eligibility and KYC restrictions also vary by country; check the accepted and restricted country lists before paying or submitting documents.
How To Get Ultima Markets Rebates: New Account Or IB Transfer
Ultima Markets rebates require the account to be assigned to the partner code shown on the rebate page. There are two routes:
- New client: Open an account using the link and code for your chosen spread.
- Existing client: Request an IB transfer and wait for broker approval.
Open A New Account Through The Chosen Link
The rebate page describes four steps:
- Use the right link or code: No Markup uses yQAiI3Gi, Markup 1 P8K42x9R, and Markup 2 BX0KiiF3. Use a private browser window if registering through a browser.
- Complete KYC: The page lists a national identity card, driving licence or passport; accepted documents depend on your country.
- Fund and trade: First verify that the account shows the intended code and spread.
- Contact rebate support: Provide your account details so automatic rebates can be set up.
How To Transfer Ultima Markets IB For An Existing Account
To transfer Ultima Markets IB, request that the broker assign your existing account to the new partner code. Send the request from the email registered to your trading account.
Registered email → IB transfer request → Notify rebate support → Ultima review
Follow this sequence:
- Write from your registered email. Ask Ultima support for the appropriate transfer mailbox for your country. Put Please transfer me under IB 22592494 verbatim in both the subject and the message.
- Tell rebate support which email you used through the rebate support contact page so it can coordinate with Ultima.
- Wait for approval: The rebate page gives no processing time. Sending the email alone does not confirm a completed transfer.
Before further trading, ask:
- Will the transferred account use No Markup, Markup 1 or Markup 2?
- Do trades closed before approval qualify for rebates?
Use your registered email so the broker can match your request to the account holder.
How To Track Ultima Markets Rebate Payouts And Withdrawals
Ultima Markets rebate payout is listed as daily on the rebate page. The general forex rebate page describes broker-data reconciliation, near-real-time tracking through the app or website, and withdrawal requests without a minimum trading-volume requirement.
The Ultima page does not specify:
- A minimum withdrawal amount.
- Available payment methods.
- Rebate withdrawal fees.
To reconcile your balance:
- Export closed-trade history by day from MT4/MT5.
- Total eligible lots and multiply them by the rate for your actual link.
- If the numbers differ, send support the dates, order numbers and volumes.
Frequently Asked Questions (FAQ) About Ultima Markets Rebates
What Are The Ultima Markets Rebate Rates Per Lot?
As at 16 October 2026, the page listed $6.40 per lot for No Markup, $14.40 for Markup 1 and $22.40 for Markup 2. The latter two add one and two pips respectively. The advertised rates cover forex and gold, with daily payment. The page does not confirm whether Standard, ECN and Cent accounts all qualify.
Should You Use Ultima Markets Markup Links?
It depends on your pip value. Each extra pip of spread buys $8 more rebate. With EURUSD at $10 per pip per lot, Markup 1 leaves $4.40 and Markup 2 $2.40, versus $6.40 on No Markup. A pair worth less than $8 per pip can reverse the paper result. For gold, confirm what one pip means first.
Can An Existing Ultima Account Receive Rebates?
An existing client can request an IB reassignment, subject to broker approval. To transfer Ultima Markets IB, send the exact request “Please transfer me under IB 22592494” in both subject and body from your registered email. Ask Ultima for the transfer mailbox that serves your country, then notify rebate support which email you used. Confirm the resulting link and whether earlier trades qualify.
When Is The Ultima Markets Rebate Payout, And How Do You Withdraw?
The Ultima page lists daily payouts. The general forex rebate page says balances can be tracked on the app or website and withdrawal requests made when needed, without a minimum trading-volume requirement. Ultima-specific minimum withdrawal, payment methods and fees remain unspecified. Ask support, then reconcile eligible lots against your MT4/MT5 history before requesting payment.
Which Legal Entity Holds An International Ultima Account?
Ultima identifies Ultima Markets (Mauritius) Ltd as the product provider for clients opening through its international website and lists FSC Mauritius licence GB 23201593. FCA reference 470325 belongs to the separate UK company and does not confer FCA protection on international site clients. Read your own account agreement to identify the actual contracting entity before depositing.
Conclusion: Choose The Ultima Link By Pip Value, Not Headline Rebate
Ultima Markets rebates have three advertised rates, but the link comparison turns on one threshold: each extra spread pip buys $8 more rebate. Calculate the net benefit on your main pairs first. For XAUUSD, verify the broker’s pip definition and live spread before selecting a markup link.
New clients should use the intended code. Existing clients should request an IB transfer from their registered email, wait for confirmation and reconcile eligible lots daily. The Ultima Markets rebate page and broker rebate comparison show the published offers. The comparison’s $22.40 figure refers to Markup 2, so compare brokers on matching spread conditions. This is an independent IB partner programme; rebates are funded from broker-paid commission. See the risk disclaimer.
Disclaimer: Backcom.io compiled this information for reference as at 16 October 2026. It is not investment advice or a recommendation to choose a link. Leveraged forex and gold CFDs can cause capital loss. Rates, spreads and conditions may change; verify them before registering.
