WikiFX Review: Traders need to understand the current situation of XPro Markets

About XPro Markets

XPro Markets is a South Africa- based broker. This broker claimed to offer clients a couple of financial instruments, including forex, stocks, indices, and cryptos. XPro Markets is newly founded, and it has experience of fewer than 2 years.

Regulation

XPro Markets claimed to be regulated by FSCA. However, according to WikiFX, this broker exceeds the business scope regulated by South Africa FSCA with license number: 32535. In addition, WikiFX has given this broker a pretty low rating of 3.30/10. Low-score brokers are more likely to take your money away fraudulently. Be aware of the risk.

Account Types

XPro Markets offers five different types of accounts, they are Classic, Silver, Gold, Platinum, and VIP.

Leverage

XPro Market allows traders to utilize the leverage of up to 1:400, which is much above the levels considered appropriate by many regulators to protect retail traders. However, bear in mind that leverage can magnify your gains or losses by the same factor, so use it with caution.

Spreads & Commissions

When it comes to trading, the spread is set by the accounts you use. Simply put, the more money you have in your trading account, the lower your spreads will be.

Swap Fees

Each day, if you keep a position open overnight, you will be charged a swap cost. Since the costs associated with various assets are not constant, the following table should be consulted as necessary while developing a sound financial plan. It is important to know that costs are tripled on Wednesdays but waived on weekends.

Trading Platform

XPro Market offers its customers a choice between two trading platforms: MT4 and Webtrader. MT4 is one of the most widely used trading platforms worldwide, giving traders access to all the tools and resources they could possibly need on any device running Windows, Mac OS X, iOS, Android, or a web browser.

Deposit & Withdrawal

No details are given about the minimum deposit required. Deposits can be made to XPro Market with Visa, MasterCard, Wire Transfer, or APMs, but they are the only payment methods currently supported.

Educational Resources

XPro Market gives its clients access to some educational resources, such as Trading Central, Live Market Summary, Chart Analysis, Economic Calendar, Trading Ebook, and more.

Customer Support

XPro Market relies heavily on its Frequently Asked Questions section and chatbot to assist customers. The multilingual support staff is available via phone and email whenever the markets are open. Here are some contact details:

Telephone: +27870948672

Email: inquiries@xpromarkets.com

Social Media Platforms

This broker has accounts on various social media platforms, such as Facebook, Twitter, Youtube, Instagram, and Linkedin.

Exposure

Recently, WikiFX has received several complaints against this broker. The problem of this broker that traders complain about the most lies in withdrawal rejection.

A victim from South Korea claimed that he cannot withdraw his money from XPro Markets.

Another victim from India claimed that he cannot withdraw his money from XPro Markets as well.

The victim from Taiwan claimed his account has been blocked and cannot make a withdrawal.

Conclusion

This broker has a low rating of WikiFX score, which is a dangerous signal for your trading. We advise you to skip this broker and choose a better broker instead. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself.