Reviewed by PropFirm201 Research Team·At a Glance
Pricing & Challenge Types
UltraSmart Challenge
1 phase · 70% profit split · Scaling available
| Account Size | Price | Target P1 | Daily Loss | Max DD |
|---|---|---|---|---|
| $25,000 | $199 | 6% | 4% | 8% |
| $50,000 | $339 | 6% | 4% | 8% |
| $100,000 | $489 | 6% | 4% | 8% |
| $200,000 | $889 | 6% | 4% | 8% |
Pros & Cons
Pros
- Low 6% profit target makes evaluation more accessible
- Extended 6-month timeframe unlike competitors offering 30-45 days
- 8% maximum drawdown is generous compared to similar firms
- Registered in Australia with ASIC compliance
- Scaling plan up to $5 million maximum capital
Cons
- Starting profit split of only 70% is below industry standard
- Tick scalping, HFT, and numerous strategies are prohibited
- News trading and overnight holding not allowed
- Custom web platform only, no MT4/MT5 or standard platforms
- Reports of frozen dashboards and slow customer support
Trading Rules
About UltraCap Trading
UltraCap Trading is a proprietary trading firm headquartered in Sydney, Australia, established in 2021 with ACN 648 477 052. The firm offers a single evaluation program called the UltraSmart Challenge, with funding amounts ranging from $25,000 to $200,000 and a generous scaling plan that can grow accounts up to $5 million.
UltraCap differentiates itself with a low 6% profit target and an extended timeframe of up to 6 months to pass the evaluation, a significant advantage over competitors that typically offer 30-45 days. The 8% maximum drawdown also provides more breathing room than the 10% standard when combined with the lower target.
However, the firm has notable limitations. The starting profit split of 70% is below the industry standard of 80%, numerous trading strategies are prohibited (including scalping, news trading, and overnight holding), and the firm uses a custom web platform rather than standard options like MetaTrader or cTrader. Trader reviews are polarized, with some praising the accessible targets and others reporting dashboard issues and slow support.
How It Works
UltraCap Trading offers a single evaluation program:
UltraSmart Challenge: Achieve a 6% profit target with no minimum trading days and an extended timeframe. Daily loss limit is 4% with an 8% maximum drawdown. Leverage varies by asset class: Forex 1:30, Oil/Metals 1:10, Indices 1:5, Crypto 1:2.
Upon passing, traders receive a funded account with a 70% profit split that scales up to 90%. The scaling plan allows traders to reinvest 10% profit increments to double their accounts, potentially reaching $5 million maximum capital.
Pricing & Plans
| Account Size | Challenge Fee |
|---|---|
| $25,000 | $199 |
| $50,000 | $339 |
| $100,000 | $489 |
| $200,000 | $889 |
Leverage: Forex 1:30, Oil/Metals 1:10, Indices 1:5, Crypto 1:2. The firm uses Eightcap as its execution broker.
Rules & Restrictions
- Maximum Daily Loss: 4% of account balance.
- Maximum Overall Loss: 8% of initial account balance.
- Minimum Trading Days: None required.
- Time Limit: Extended timeframe (up to 6 months).
- Tick Scalping: Prohibited.
- High-Frequency Trading: Prohibited.
- Latency Arbitrage: Prohibited.
- Account Management: Prohibited.
- Reverse Arbitrage: Prohibited.
- Martingale Trading: Prohibited.
- Grid Trading: Prohibited.
- Hedging Between Accounts: Prohibited.
- Copy Trading: Not allowed.
- News Trading: Not allowed.
- Overnight/Weekend Holding: Not allowed.
Payouts
- Frequency: Bi-weekly (every 14 days).
- Profit Split: 70% initially, scaling to 90%.
- Methods: Bank wire transfer, Wise, cryptocurrency.
- Processing Time: Variable; some traders report delays.
Is UltraCap Trading Legit?
UltraCap Trading is an Australian-registered company (ACN 648 477 052) with ASIC compliance, which provides a level of regulatory credibility. The Trustpilot rating of 4.7/5 is strong but based on only 100 reviews, making it less statistically meaningful.
Concerns include reports of frozen dashboards, slow customer support (sometimes taking a week or more), and accusations of hidden consistency rules leading to profitable account closures. The lack of standard trading platforms and the numerous strategy prohibitions may limit the firm's appeal to experienced traders who rely on automated or aggressive strategies.
FAQ
What is UltraCap Trading?
UltraCap Trading is an Australian prop firm established in 2021 that offers the UltraSmart Challenge with accounts from $25,000 to $200,000 and a low 6% profit target.
How much does UltraCap Trading cost?
Challenge fees range from $199 for a $25,000 account to $889 for a $200,000 account.
What is UltraCap Trading's profit split?
The profit split starts at 70%, which is below the industry standard of 80%. It can scale up to 90% through consistent performance.
What platforms does UltraCap Trading use?
UltraCap Trading uses a custom web-based trading platform through Eightcap. Standard platforms like MT4, MT5, and cTrader are not available.
Is overnight holding allowed?
No. All positions must be closed before market close. Weekend holding is also not permitted.