Score

1.37 /10
Danger

XPro Markets

South Africa

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

Suspicious Overrun

High potential risk

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Comparison

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Exposure

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Score

Regulatory Index0.00

Business Index5.88

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

UKUCHUMA FINANCIAL SERVICES (PTY) LTD

Company Abbreviation

XPro Markets

Platform registered country and region

South Africa

Company website

X

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Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2025-01-30
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The South AfricaFSCA regulation (license number: 32535) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

Pyramid scheme complaint
Expose
XPro Markets · Company summary

Note: Regrettably, the official website of XPro Markets, namely https://www.xpromarkets.com/, is currently experiencing funXPro Marketsonality issues.

Aspect Information
Company Name XPro Markets
Registered Country/Area South Africa
Regulation FSCA (Suspicious Clone)
Market Instruments N/A
Trading Platforms N/A
Demo Account N/A
Customer Support Twitter https://twitter.com/XProMarkets, Facebook https://www.facebook.com/XProMarkets, and Instagramhttps://www.instagram.com/xpro_markets/
Deposit & Withdrawal N/A

What is XPro Markets?

XPro Markets is a company registered in South Africa. However, there are concerns about its legitimacy due to suspicions regarding its status as a clone of authorized entities, regulated by the Financial Sector Conduct Authority (FSCA).

If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.

What is XPro Markets?

Pros & Cons

Pros Cons
/ FCA (Suspicious Clone) and LFSA (Suspicious Clone)
Higher risk
Inaccessible website

Pros:

N/A

Cons:

Suspicious Clone: XPro Markets may not have obtained proper authorization or regulatory approval, posing risks to traders who engage with the platform.

Higher Risk: The lack of regulatory protection and scrutiny increases the vulnerability of traders, making it riskier to engage with XPro Markets compared to regulated brokers.

Inaccessible Website: A website that experiences frequent accessibility issues may disrupt trading activities and negatively impact the user experience. Traders may struggle to find information about the broker's services, trading conditions, or regulatory status, leading to uncertainty and frustration.

Is XPro Markets Safe or a Scam?

There are significant concerns regarding XPro Markets as a broker. The Financial Sector Conduct Authority regulation associated with their license appears to be a suspected clone, which raises suspicions about their legitimacy. (License Type: Financial Service Corporate; License License Number: 32535)

Is XPro Markets Safe or a Scam?

Additionally, the inaccessibility of their official website raises doubts about the reliability and trustworthiness of their trading platform. Therefore, investing with XPro Markets carries a higher level of risk due to these factors.

Customer Support

XPro Markets offers customer support through various social media platforms, including Twitter, Facebook, and Instagram.

Twitter (https://twitter.com/XProMarkets): Clients can reach out to XPro Markets' support team via Twitter for quick responses and updates. The platform allows for direct messaging and public mentions, providing a convenient way to interact with the company and stay informed about news and announcements.

Facebook (https://www.facebook.com/XProMarkets): XPro Markets maintains an active presence on Facebook, where clients can engage with the company through posts, comments, and direct messages. The platform offers a more casual and interactive environment for communication, allowing clients to ask questions and receive assistance.

Instagram (https://www.instagram.com/xpro_markets/): XPro Markets also utilizes Instagram as a customer support channel, providing clients with visually appealing content and updates. Clients can direct message the company on Instagram for inquiries, support, or general information.

Conclusion

In conclusion, XPro Markets presents several concerning factors that traders should consider before engaging with the platform. The suspicion surrounding its status as a clone of authorized entities, coupled with its lack of regulatory oversight, raises doubts about its legitimacy and authenticity.

This implies higher risks for traders, including the potential for financial losses or fraudulent activities.

FAQs

Q: What are Clone Brokers?

A: The primary aim of clone brokers is to lure unsuspecting investors into depositing funds or providing personal and financial information, which can then be used for fraudulent activities such as unauthorized trading, identity theft, or financial fraud. Clone brokers may use various tactics to attract victims, such as offering unrealistically high returns, promising guaranteed profits, or using aggressive sales tactics.

Q: How can I contact XPro Markets' customer support?

A: You can reach XPro Markets' customer support through various social media platforms, including Twitter (https://twitter.com/XProMarkets), Facebook (https://www.facebook.com/XProMarkets), and Instagram (https://www.instagram.com/xpro_markets/).

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FX3716491802
0-3months
ho investito delle somme considerevoli con questo broker. Quando ho visto che perdevo, la persona a me assegnata mi ha incitato a depositare altri fondi, se no perdevo tutto, così ho fatto, a più riprese. Ho inviato loro le mie preoccupazioni, dettagliando cosa era successo. uno dei loro broker mi ha aprire delle posizioni in vendita e acquisto dello stesso titolo, BMW, con diverse leve più di venti volte. alla fine, ho perso tutto, e non una parola, neanche di scusa da parte loro. il modo in cui mettono sotto pressione le persone per farle depositare ulteriori fondi, si avvicina allo stalking. in dicembre di quest'anno, dopo l'ennesimo tentativo di recovery, ho definitivamente perso tutto. La perdita sui trade era di CHF 148'889.65 ma i costi dei SWAP erano di 565'084.56. quando chiedevo se non era meglio chiudere le posizione per evitare perdite troppo elevate, mi veniva detto di avere fiducia, che sapevano cosa fare.
ho investito delle somme considerevoli con questo broker. Quando ho visto che perdevo, la persona a me assegnata mi ha incitato a depositare altri fondi, se no perdevo tutto, così ho fatto, a più riprese. Ho inviato loro le mie preoccupazioni, dettagliando cosa era successo. uno dei loro broker mi ha aprire delle posizioni in vendita e acquisto dello stesso titolo, BMW, con diverse leve più di venti volte. alla fine, ho perso tutto, e non una parola, neanche di scusa da parte loro. il modo in cui mettono sotto pressione le persone per farle depositare ulteriori fondi, si avvicina allo stalking. in dicembre di quest'anno, dopo l'ennesimo tentativo di recovery, ho definitivamente perso tutto. La perdita sui trade era di CHF 148'889.65 ma i costi dei SWAP erano di 565'084.56. quando chiedevo se non era meglio chiudere le posizione per evitare perdite troppo elevate, mi veniva detto di avere fiducia, che sapevano cosa fare.
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2025-01-27 21:41
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James Sullivan
more than one year
On January 25, 2023, I placed a buy order for EUR/USD at 1.1200. The order was filled at 1.1210, which is a 10-pip difference. This is a significant difference, and it can cost you money if you're not careful. I've also had some issues with the platform's stability. On a few occasions, the platform has crashed or frozen. This can be frustrating, especially if you're in the middle of a trade.
On January 25, 2023, I placed a buy order for EUR/USD at 1.1200. The order was filled at 1.1210, which is a 10-pip difference. This is a significant difference, and it can cost you money if you're not careful. I've also had some issues with the platform's stability. On a few occasions, the platform has crashed or frozen. This can be frustrating, especially if you're in the middle of a trade.
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2024-01-26 18:06
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