XPro Markets Broker Review
- The company proves to be a great educational source for traders
- A Cyprus company regulates this company
- Binary options are no longer available
First, we invite you to read our scam broker reviews of InvestAtlas, BBanc, and Investirex. It is too good to be true regarding their investment offers!
- Regulation of the broker: FSCA
- Websites of scammers: xpromarkets.com
- Forex Trading Scam: Active
- Scam listed by: N/A
- Broker: Ukuchuma Financial Services (PTY) Ltd.
- Country of headquarters: South Africa
- Funding Year: 2019
- Platforms: MT4 and WebTrader
- Mobile Trading: Supported
- Deposit Minimum: $250
- Bonus: None
- Trading Crypto: Available
- You can trade CFDs: Yes, you can
- Instruments: Forex, commodities, indices, shares, cryptocurrencies.
- Leverage maximum: 1:400
- Not available: Islamic Account
- Account Demo: Yes, there is one
- Does not accept US traders: The company does not accept US clients
This broker is a scam! Could you not invest in it?
Is XPro Markets a Regulated Crypto and Forex Provider?
A South African company, Ukuchuma Services (PTY) Ltd, owns XPro Markets broker. It was stated that the broker had a regulation number 2020/735868/07 with the FSCA. To make sure this authority body is trustworthy, we checked its credentials.
According to the register, XPro Markets is regulated by FSCA, a South African Tier2 regulator. Considering that the broker is linked to a Cyprus-based firm, we wondered why the company got a license from FSCA, not CySEC.
To compare, CySEC belongs to a Tier1 zone and has ICF. It is a compensation fund that covers all customers up to 20,000 EUR if anything goes wrong. The FSCA does not offer such a guarantee, which is why it is rated Tier2. Consumers are less protected when it comes to Forex and binary options firms.
How Safe Is XPro Markets Broker?
The South African company XPro Markets is part of a more extensive operation headquartered in Cyprus. The company holds an FSCA license. Also, it is not as competitive as it could be with this firm due to the poor trade conditions.
Where Is XPro Markets Broker Active?
It has been providing its services since May 2019, when XPro Markets started operations. The company mainly focuses on:
- Switzerland
- Norway
- Germany
- France
- South Korea
- Austria
The FSCA license does not cover EU territory or South Korea. These services would require a CySEC or other European support from the firm.
How Does This Broker Contact client?
How brokers contact existing and potential clients varies from broker to broker. Most of the firm’s customers come from Google, Facebook, and Instagram, according to XPro Markets reviews. Also, you can expect to receive a call and an email with different financial proposals and offers once you have registered and provided your personal information. Following your initial investment, your account manager will contact you and try to convince you to invest more.
Finally, many brokers may invite you to Telegram groups and channels. It claims to send special offers only to a selection of customers, but mainly those are the basic details you can find anywhere.
What Can XPro Markets Victims Do? – Start the Chargeback Process
We would like to hear from you if you have had any problems dealing with XPro Markets. The firm is regulated, but FSCA doesn’t have a compensation fund and will rarely reimburse you. Contact us via online chat at the first sign of suspicion, and we will evaluate your case.
Better safe than sorry, they say.
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FAQ Section:
What Is XPro Markets, and Should I Invest Money In It?
XPro Markets is a South African provider of Forex and CFD trading services. FSCA license, but no compensation fund. If you are having trouble withdrawing, please let us know.
Does XPro Markets Offer a Demo Account?
XPro Markets offers both a Demo account and a Live account.
What Is the XPro Markets Minimum Deposit?
A minimum deposit of $250 is required to start trading at XPro Markets.