Xpro Markets is a forex and CFD broker that was founded in 2011. The company is headquartered in South Africa and is regulated by the Cyprus Securities and Exchange Commission (CySEC). Xpro Markets offers a wide range of trading instruments, including forex, stocks, indices, commodities, and cryptocurrencies.
Company Overview
Team
The Xpro Markets team is composed of experienced traders and financial professionals. The company’s CEO is Michael Haque, who has over 20 years of experience in the financial industry.
Services or Products
Xpro Markets offers a variety of trading services and products, including:
- Forex trading: Xpro Markets offers over 45 currency pairs to trade.
- CFD trading: Xpro Markets offers CFDs on stocks, indices, commodities, and cryptocurrencies.
- Spread betting: Xpro Markets offers spread betting on a variety of assets.
- Social trading: Xpro Markets offers a social trading platform that allows traders to copy the trades of other successful traders.
- Education: Xpro Markets offers a variety of educational resources to help traders learn about the financial markets.
License and Regulations
License Status
Xpro Markets is regulated by the Cyprus Securities and Exchange Commission (CySEC). CySEC is a well-respected financial regulator that is known for its strict regulations.
Regulation Status
Xpro Markets is not regulated by any other financial regulators. However, the company does have a negative legal warning against it from the Financial Conduct Authority (FCA) in the UK.
They mentioned in their footer section about their regulation with different organizations. However, all of these organizations always declare that their authorization cannot ensure that the certified company is regulated and authorized.
Why Dealing With An Unlicensed Broker Is Risky?
There are a number of reasons why it is risky to deal with an unlicensed broker. These reasons include:
- Unlicensed brokers are not subject to the same regulations as licensed brokers. This means that they may engage in fraudulent or unethical practices.
- Unlicensed brokers may not have the financial resources to protect your funds in the event of a problem.
- It may be difficult to get your money back from an unlicensed broker if you experience problems.
Legal Warning Against FXGT
The Financial Conduct Authority (FCA) in the UK has issued a negative legal warning against Xpro Markets. This warning means that the FCA believes that Xpro Markets is not a legitimate financial services provider and that you should not trade with them.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
Feedback About Their Trading
There are a number of positive and negative reviews about Xpro Markets’ trading platform. Some traders have praised the platform for its ease of use and its variety of features. Others have complained about the spreads and the lack of customer support.
Feedback About Their Customer Service
The customer service at Xpro Markets has been criticized by some traders. Some traders have complained about the long wait times and the lack of helpfulness of the customer service representatives.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by a forex broker, there are a number of things you can do. First, you should contact your bank or credit card company and dispute the charges. You should also file a complaint with the financial regulator in your jurisdiction. Finally, you can contact a lawyer who specializes in forex fraud.
Review Advice can help you in this case. You can file your complaint through our website form and we will schedule a free consultation call to provide you with some guidance and recovery service recommendations to help you recover the lost funds.
Final Thought
Overall, Xpro Markets is a forex and CFD broker that has a mixed reputation. The company is regulated by CySEC, but it has a negative legal warning against it from the FCA. There are a number of positive and negative reviews about the company’s trading platform and customer service. If you are considering trading with Xpro Markets, it is important to do your own research and carefully consider the risks involved.
