Score
XPro Markets
South Africa|2-5 years| https://xpromarkets.com
Website
Rating Index
MT4/5 Identification
MT4/5 Identification
Full License
United KingdomContact
Licenses
Licensed Institution：Ukuchuma Financial Services (PTY) LTD
License No.：32535
Single Core
1G
40G
1M*ADSL
- The number of the complaints received by WikiFX have reached 9 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
Basic information
South Africa
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
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Website
xpromarkets.com
Server Location
United States
Website Domain Name
xpromarkets.com
Server IP
104.26.2.45
Genealogy
VIP is not activated.Company Summary
| Registered in | South Africa |
| Regulated by | No effective regulation at this time |
| Year(s) of establishment | 1-2 years |
| Trading instruments | currency pairs, indices, commodities, metals, energies, cryptocurrencies, stocks |
| Minimum Initial Deposit | 250 EUR/USD or 34500 JPY |
| Maximum Leverage | 1:400 |
| Minimum spread | 0.9 pips onwards for EURUSD |
| Trading platform | MT4, webtrader |
| Deposit and withdrawal method | credit card, APMs and bank transfer |
| Customer Service | phone number, email, an address and social media |
| Fraud Complaints Exposure | Yes |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Pros and cons of XPro Markets
Pros:
Offers a wide range of instruments to trade, including Forex, stocks, indices, and commodities.
Provides popular and sophisticated trading platforms, including MT4 and WebTrader.
Offers high leverage of up to 1:400 for all account types.
Provides 24/7 customer support through multiple channels, including phone, email, and social media.
Offers a variety of educational resources to help traders improve their knowledge and skills.
Offers competitive spreads on certain account types.
Provides multiple payment options for deposits, including credit card, APMs, and bank transfer.
Cons:
XPro Markets charges inactivity and maintenance fees for dormant accounts, which is not very competitive.
The company does not provide clear information on the minimum deposit required to open different account types.
XPro Markets charges withdrawal fees depending on the circumstances, which can be a disadvantage for traders.
The educational resources provided by the company may not be enough to help traders achieve success without real trading experience.
The company's website lacks transparency on certain important aspects, such as the minimum deposit required to open different account types.
What type of broker is XPro Markets？
| Advantages | Disadvantages |
| XPro Markets offers tight spreads and fast execution due to its Market Making model. | As a counterparty to its clients' trades, XPro Markets has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients. |
XPro Markets is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, XPro Markets acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that XPro Markets has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with XPro Markets or any other MM broker.
General information and regulation of XPro Markets
XPro Markets is an online forex broker that provides access to a wide range of financial instruments for trading. The company offers four different account types with variable spreads, leverage of up to 1:400, and a choice of two popular trading platforms - MT4 and WebTrader. They also provide educational resources for traders and 24/7 customer support in multiple languages. XPro Markets accepts deposits in EUR, USD, and JPY via credit cards, APMs, and bank transfers. The minimum deposit amount is 250 EUR/USD or 34500 JPY.
In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.
Market instruments
| Advantages | Disadvantages |
| Wide range of assets available | Unregulated company |
| Diversification of trading opportunities | Limited information on trading conditions |
| Opportunities to trade different markets | Lack of clarity on asset pricing |
| Opportunities for traders to spread risk | Potentially higher risk due to lack of regulation |
| Potential for higher returns | Limited customer protection in case of disputes |
XPro Markets offers its traders a variety of assets to trade, including currency pairs, indices, commodities, metals, energies, cryptocurrencies, and stocks. The availability of multiple asset classes provides traders with opportunities for diversification and to spread risk across different markets. Traders also have the potential for higher returns due to the wide range of assets available. However, it is important to note that XPro Markets is an unregulated company, which may pose a potential risk for traders. Additionally, there is limited information available on the trading conditions and pricing of assets. Furthermore, there may be limited customer protection in case of disputes.
Spreads and commissions for trading with XPro Markets
| Advantages | Disadvantages |
| VIP account with lower spreads | Varying spreads and fees |
| Different account types with different spreads | Inactivity fee for dormant accounts |
| Maintenance fee every month |
Different account types are available, each with varying spreads. The classic and silver accounts have the same level of spreads, while gold has lower spreads. The VIP account offers the lowest spreads, with 0.9 pips for EURUSD, 1.4 pips for GBPUSD, and $0.1 for crude oil. However, the company charges an inactivity fee for dormant accounts after one month, which may not be competitive with other companies in the industry. Additionally, a maintenance fee is charged every month, which can add up over time.
SWAPs
| Advantages | Disadvantages |
| Clear and detailed information on SWAPs for various instruments | SWAP rates are not very competitive compared to other brokers |
| Transparency on calculation of SWAPs | SWAP rates are not fixed and can change frequently |
| Ability to calculate potential SWAP costs beforehand | SWAPs may be a cost that traders may overlook when considering trades |
| Helpful for traders who hold positions for a longer time | SWAPs can sometimes be confusing for new traders |
XPro Markets provides clear and detailed information on SWAPs for various instruments, including the long and short SWAP rates. This transparency is helpful for traders who hold positions for a longer time and need to know potential SWAP costs beforehand. The ability to calculate SWAPs beforehand can help traders make more informed decisions about their trades. However, the SWAP rates offered by XPro Markets are not very competitive compared to other brokers, and the rates are not fixed, so they can change frequently. Additionally, SWAPs can sometimes be a cost that traders may overlook when considering trades, and they may be confusing for new traders.
Trading accounts available in XPro Markets
| Advantages | Disadvantages |
| Multiple account types to choose from | Information about minimum deposit is missing |
| Variation in spreads and SWAPs discount | Unclear if there is a demo account offered |
| Possibility of selecting preferred account based on individual financial goals and trading experience |
XPro Markets offers potential clients different account types to choose from with variations in spreads and SWAPs discounts. This allows individuals to select an account type that suits their financial goals and trading experience. However, the website does not provide information about the minimum deposit required for each account type, which may be a disadvantage for some traders. Additionally, it is not yet known if XPro Markets offers a demo account for those who wish to test their trading skills without the risk of losing money.
Trading platform(s) that XPro Markets offers
| Advantages | Disadvantages |
| MT4 and WebTrader platforms | No proprietary trading platform |
| Popular and sophisticated | Limited customization options |
| Suitable for various devices | Limited educational resources on trading platforms |
| User-friendly interface | No mobile app for WebTrader platform |
| Advanced charting tools | No back-testing functionality on WebTrader platform |
XPro Markets provides traders with two popular and advanced trading platforms, MT4 and WebTrader, which can be accessed from various devices. Both platforms offer advanced charting tools, a user-friendly interface, and a range of trading tools and indicators to help traders analyze the markets and make informed trading decisions. However, the company does not offer a proprietary trading platform, which may be a disadvantage for some traders. Additionally, the customization options for both platforms are limited, and there are no back-testing functionalities on the WebTrader platform. Lastly, while there is a mobile app available for the MT4 platform, there is no mobile app for the WebTrader platform. Overall, XPro Markets' trading platforms are suitable for traders with different levels of experience, but there is room for improvement in terms of customizability and functionalities.
Maximum leverage of XPro Markets
| Advantages | Disadvantages |
| Allows for potentially higher profits with smaller initial investment | Higher leverage also means higher risk of significant losses |
| Gives traders the ability to trade larger positions | Traders may be more prone to making impulsive decisions due to the increased risk |
| Can provide greater flexibility in trading strategies | Some regulatory bodies have imposed limits on maximum leverage, which can affect trading with certain markets |
| May attract traders who prefer high-risk, high-reward trading | Not suitable for inexperienced or risk-averse traders |
XPro Markets offers a maximum leverage of 1:400 for all account types, which can provide several advantages and disadvantages to traders. On one hand, higher leverage allows for potentially higher profits with a smaller initial investment and gives traders the ability to trade larger positions. It also provides greater flexibility in trading strategies and may attract traders who prefer high-risk, high-reward trading. On the other hand, higher leverage also means higher risk of significant losses and traders may be more prone to making impulsive decisions due to the increased risk. Additionally, some regulatory bodies have imposed limits on maximum leverage, which can affect trading with certain markets. Therefore, while high leverage can offer several benefits, it may not be suitable for inexperienced or risk-averse traders.
Deposit and Withdrawal: methods and fees
| Advantages | Disadvantages |
| Multiple Payment Methods | Withdrawal Fees Charged |
| Minimum Deposit Amount of 250 EUR/USD or 34500 JPY | Long Processing Time for Withdrawals |
| Clear and Detailed Information on Deposit Options | High Withdrawal Fees for Bank Transfers |
| Low Withdrawal Fees for Credit Cards at 10 EUR/USD/JPY | No Mention of Deposit or Withdrawal Bonus |
XPro Markets offers a variety of payment methods for deposits and withdrawals, including credit cards, APMs, and bank transfer, making it easy and convenient for traders to manage their funds. The minimum deposit amount is reasonable at 250 EUR/USD or 34500 JPY. However, there are some disadvantages to consider, such as the withdrawal fees charged by the company, the long processing time for withdrawals, and the high withdrawal fees for bank transfers. It's also worth noting that there's no mention of any deposit or withdrawal bonuses offered by XPro Markets. Overall, while there are some downsides, the multiple payment methods and clear information on deposit options make XPro Markets a decent choice for depositing and withdrawing funds.
Educational resources in XPro Markets
| Advantages | Disadvantages |
| Wide range of educational resources | Real trading is the best teacher |
| Trading center with various trading tools and indicators | Limited interactivity with the educational resources |
| Live market overview and chart analysis | Limited depth of the educational resources |
| Economic calendar with relevant news events | Educational resources cannot guarantee profitability |
| E-books and interactive courses available |
XPro Markets provides a comprehensive set of educational resources to support traders in their learning journey. These resources include a trading center with various trading tools and indicators, live market overview and chart analysis, an economic calendar with relevant news events, as well as e-books and interactive courses. While these resources are valuable, it is important to note that real trading experience is the best teacher in Forex trading. The educational resources may provide a good foundation, but they cannot guarantee profitability, and their depth may be limited. However, for traders looking to enhance their knowledge and skills, XPro Markets' educational resources can provide a good starting point.
Customer service of XPro Markets
| Advantages | Disadvantages |
| 24/7 accessibility | |
| Multiple contact modes |
XPro Markets' customer service offers various ways for customers to reach out for support. With its availability 24/7, it provides flexibility for traders from different time zones. It also offers different contact modes, such as phone, email, and social media, which gives customers options to choose the most convenient way to reach them. Additionally, the website is available in more than 15 languages, which means that XPro Markets has a more extensive reach and can provide assistance to a broader range of customers. Overall, XPro Markets' customer care is an advantage that can be beneficial for its customers. The multilingual support is also an advantage of this company.
Conclusion
XPro Markets is an online broker that offers its clients a wide range of financial instruments to trade with, including forex, stocks, indices, and commodities. The broker provides its clients with competitive trading conditions, such as tight spreads, high leverage, and fast execution speeds, making it an attractive choice for traders of all levels. XPro Markets offers its clients multiple account types to choose from, including Classic, Silver, Gold, and VIP accounts, each with its own unique set of benefits. The broker also provides excellent customer support services that are available 24/7 via various channels, including phone, email, and social media. While XPro Markets has some drawbacks, such as the lack of transparency around certain aspects of its trading conditions, the company still offers a reliable trading experience overall.
Frequently asked questions about XPro Markets
Question: What is the minimum deposit amount？
Answer: The minimum deposit amount is 250 EUR/USD or 34500 JPY.
Question: What trading platforms are available on XPro Markets？
Answer: XPro Markets offers two popular trading platforms, MT4 and WebTrader, which are accessible from various devices.
Question: What is the maximum leverage offered by XPro Markets？
Answer: The maximum leverage offered by XPro Markets is up to 1:400 for all account types.
Question: What is the process of opening an account with XPro Markets？
Answer: To open an account with XPro Markets, you need to fill out a registration form on their website, verify your identity and make a deposit.
Question: How can I contact customer service？
Answer: You can contact XPro Markets customer service via phone number, email, address or social media, which are available 24/7.
Question: Does XPro Markets offer educational resources？
Answer: Yes, XPro Markets offers a variety of educational resources, such as trading center, live market overview, chart analysis, economic calendar, e-books and interactive courses.
Keywords
- 2-5 years
- Regulated in South Africa
- Financial Service Corporate
- MT4 Full License
- Regional Brokers
- Suspicious Overrun
- High potential risk
News
Exposure WikiFX Review: Traders need to understand the current situation of XPro Markets
XPro Markets is a South Africa-based broker. This broker claimed to offer clients a couple of financial instruments. It catches our attention because we recently received a complaint related to this broker. WikiFX has comprehensively reviewed XPro Markets from several perspectives.
2023-01-28 16:18
Exposure XPro Markets Ignoring Withdrawal Requests
Unable to withdraw one’s funds is by far the most worrisome situation that a forex trader could face. Therefore, it is crucial to spend time doing your due diligence before engaging with any forex broker. Use the free database and platform of WikiFX to verify your forex broker at ease.
2022-08-08 18:00
Review 14
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orlando9343
Colombia
I lost my money with this platform. My name was a lady of Peruvian nationality who told me to invest a certain amount of 3,472.00. At first they let me withdraw money and then after a while they called me to say that I couldn't withdraw more because if I didn't lose the margin I would have to invest more. so as not to lose the margin. I don't know what to do, it was a lot of money, that's what I had, please, if you could help me, I invested that money with my partner.
Exposure
02-08
Shorty276
Mexico
Last November 2, a woman named Luna contacted me who claims to be a broker for the company and I agreed to invest with download said They say that later and they put me off and they don't even answer the phone. I already made a withdrawal request on the platform and no one gives me a solution after the second transfer. A few days later a person calls me saying that they scammed me and asking me for the investment details. account numbers and let her see the screen of my phone remotely, which I did not agree to give her any information and after that event is when they no longer give me an account of my money, they do not answer or messages, the numbers are still in the platform continues to reinvest but I don't have access to anything and I want to withdraw the money before they disappear since they don't give me a withdrawal solution. In a few words I asked to withdraw a certain amount and they hid from me.
Exposure
02-03
orlando9343
Colombia
I invested 3472.00 dollars at the beginning they let me withdraw 1489.23 and then they told me no that if I withdrew VAT I would lose margin. I would have 3472.00 left when I went to withdraw. They started calling me not to withdraw it because I would have a loss. I made a process to withdraw from one moment to the next. The money was already there, according to them, they had lost it.
Exposure
02-01
orlando9343
Colombia
I invested 3,472.00 dollars at the beginning they let me withdraw 1,489.23 and then they told me no, if I withdrew more I would lose the money that was left. I had 3472.00 left but now my money is gone, only 248.24 left. They told me that if I didn't invest more I would lose the margin. A woman of Peruvian nationality calls you and tells you what to do. I made one last withdrawal but as you see in the image it was left uncompleted. They didn't let me withdraw
Exposure
2023-12-06
Berny935
Costa Rica
It all started on October 17, 2023 when after some talks about how to use the platform, the Broker "Lucas Monfort" who I consider a fictitious name, "guided" me with the process to work the platform and generate profits. After talking, he managed to persuade me that if I deposited a sum of 3000 dollars they would reward me with 2000 dollars, I entered 3740 dollars to operate and indeed the market increased exponentially and thus generated a sum of 7700 dollars. The next day, October 18, 2023, the person Lucas Monfort called me from different numbers every minute and wrote to me through the Telegram application, he told me that he would cancel the profits to continue investing and it was at that moment where I began to read people's experiences. that once worked they generated a profit of 7,700 dollars, at that precise moment I began to read several reviews from people who had lost all their money with them so I refused to agree to the cancellation. He called me every day to do it and I didn't do it. On Thursday they deposited 300 dollars with me in order for me to release my profits, however I did not do so either, it should be noted that since Tuesday, October 17, my accounts appeared with the withdrawal pending. What happened next was that yesterday, Monday, October 23, he told me that we would operate with a bonus that had been approved for me, I agreed to work that money and I thought that maybe this way they could get the profits from them and they would release my money faster, however, minutes later, my account was negative, I had a debt of -1200 dollars where they told me that I had to deposit an amount of 1200 from my cards to compensate for that loss. I didn't do it, so they sent me an email telling me that my account had been completed, I logged in and everything was at zero, and minutes later they sent me another email CANCELING MY WITHDRAWALS due to "Insufficient balance." I started sending emails to request my money, I sent an email to the Financial Sector Conduct Authority in South Africa, since they are the country's superintendent, complaining about the case, however I have not received any response. I am afraid of losing this money since it was from a credit card, when I did not have this money in account and just like that out of nowhere I lost everything. The Broker Lucas Monfort calls me and sends me messages to invest more to recover that "lost" money when that was easily a SCAM. These people are not professionals, they only care about stealing your money, the system says that it takes 3 days to deposit, however this is the example where we see that it is not true... I hope you can help me soon, I need to get my money back.
Exposure
2023-10-25
Ku3228
Chile
I made a withdrawal and until now they are lying to me that they will move me to another department. Ten days have passed and my money has not been returned. It is a scam. They insult you and discriminate. Do not fall for this scam. They ask for my bank details, I have sent them in more than 10 occasions.
Exposure
2023-11-02
Nuno2013
Portugal
After i Invest 250 the broker Rised up to 400 wich i can ser in my balance account. Then he told me he got an Equity of 12400 and to see the money i had to pay 2400 of taxes. I try to withraw without success and he told me its Impossible. I tried to send an email to support@xpromarket.co.uk but dont exist. I tried to send an SMS but allways says to try later. I didn't pay but i Lost 250 and even more if i pay the 2400...
Exposure
2023-04-19
Hari92521
India
Wrong place to invest our money. Withdrawal of money is not at all happening. I have done so many request for withdrawing money. But no response. They cheat by forcing to invest 1000 dollars and above. Do not believe them and be aware of this. Fake business. I strongly recommend not to do trade with Xpromarkets.com. Do not invest money with them. They totally cheat you. Waste of time investing here. Wrong place to invest our money. Withdrawal of money is not at all happening. I have done so many request for withdrawing money. But no response. They cheat by forcing to invest 1000 dollars and above. Do not believe them and be aware of this. Fake business. I strongly recommend not to do trade with Xpromarkets.com. Do not invest money with them. They totally cheat you. Waste of time investing here.
Exposure
2022-08-03
FX4262122115
Taiwan
At first, I saw on the website that you can make a deposit of 250 US dollars for investment, and also arranged an online teacher for online guidance. At the beginning, there was a 50-dollar withdrawal, but then they were told that they could not deposit 3,000 US dollars. The attitude of the other teacher was not very friendly at first. On the one hand, I was also very worried about not getting the money back, so I still cooperated with the other party, but when I made an appointment for the next class, the other party did not call. I sent an email, and the other party said that they would tell the relevant units for assistance, but there was no news after that. I logged in again and found that my account was blocked! I have $750 of my hard-earned money that has never been returned! I have also reported the case, hoping that more people will not be fooled!
Exposure
2022-06-20
FX2353162780
South Korea
I invested excessively in addition to the money I had originally. It guarantees a certain profit. I invested because I needed a lot of money, but even the principal is lost now and it is impossible to withdraw. Originally, the principal was guaranteed.
Exposure
2022-04-28
Jarvis11402
Hong Kong
Fraud platform with huge spread. After registering, a bunch of customer service calls will come and let the teacher guide you to trade. You cannot withdraw money after refusal. .
Exposure
2022-04-13
Derekkk
South Africa
I cannot believe Xpro market’s official has been shut down this way… I registered a trading account here six months ago, and I didn’t trade often. Almost forget I have $500 in my account…
Neutral
2023-02-20
FX1031445094
Australia
Xpro Markets does provide educational resources, quite friendly to beginners. But I do feel that its trading conditions, like spreads, not competitive enough… Another problem is their customer service, when typing for something related to trading conditions, what you’ll get is constant requests for deposits.
Neutral
2022-11-24
FX1051863289
Malaysia
As a beginner, I am very happy to find a good broker to study some forex trading knowledge. They offer trading e-books and interactive courses, which are very helpful for me to get started. But I still have some difficulties understanding part of them, so I have to ask their customer support, sometimes they can answer fast, but sometimes they can’t. Overall they are good.
Positive
2022-11-25