XPro Markets is a Forex and CFD trading broker that offers traders access to a variety of trading instruments, including Forex, CFDs, indices, stocks, cryptocurrencies, metals, commodities, and shares.
Based on our research, the broker is headquartered in South Africa and holds a license from the reputable FSCA authority. As a South African broker, XPro Markets provides its services to clients across the African region.
In general, the firm is known for its reliability, offering competitive trading conditions and efficient execution of trades through the Webtrader platform.
Who is XPro Markets For?
Based on our findings, XPro Markets is a reliable and favorable broker that meets different trading needs and expectations. It is especially good for the following:
- Traders from South Africa and the African Region
- Traders who prefer the MT4 trading platform
- Currency trading
- Beginners
- Advanced traders
- NDD execution
- Competitive prices
- 24/7 customer support
- Good trading tools
Regulation and Security Measures
XPro Markets is a regulated company authorized by the FSCA in South Africa, which suggests a level of credibility and adherence to certain industry standards. Even though it is not regulated by top-tier regulation, compliance with the regulatory rules set by FSCA, a rather respected regulatory body in the Forex trading market, enhances the safety and confidence of clients who choose to trade with the broker. However, we recommend conducting your research, reviewing customer feedback, and considering personal factors before engaging with the broker.
How Safe is Trading with XPro Markets?
According to our findings, FSCA plays a good role in enforcing regulatory compliance within the financial services industry, especially for Africa Trading. The regulatory body ensures the security of clients’ funds by requiring the segregation of funds from company accounts. This practice prevents the use of client funds for operational purposes, adding an extra layer of protection for clients.
However, we suggest conducting thorough research, including reading user reviews and considering other factors, to assess the broker’s reputation and legitimacy.
Consistency and Clarity
We have reviewed the broker’s consistency of practices and clarity in the proposal to estimate XPro Markets’ overall reliability. Since 2022, the broker has provided regulated and strictly overseen services to its clients. It has been consistent in enhancing its services and providing better opportunities. However, we have noticed that when it first started, the broker also offered the popular MT4 platform, while at present, trades can be conducted only through the broker’s Webtrader platform.
Another important factor that is essential to consider is the broker’s notice about counterfeiting activities when other parties operate using the broker’s name, providing doubtful services, and approaching clients with questionable offers. Thus, the broker urges its clients to be careful and alert.
At last, XPro Markets’ customer feedback includes many negative reports, primarily on insufficient withdrawals, aggressive sales tactics, etc.
Account Types and Benefits
Per our research, the broker offers Classic, Silver, Gold, Platinum, and VIP accounts that might suit the needs of different traders. The initial deposit required for all account types is $250. The leverage for all the account types is up to 1:400. The accounts are spread-based with 0 % commissions. Spreads vary based on the account type and the instrument traded.
The broker also offers a swap discount for all the account types, except for the Classic account. Clients can access free trading education and 24/7 customer support.
- The Classic account is ideal for beginner traders. The Silver account is suitable for traders looking for swap-free options. The Gold account is a better fit for intermediate clients, while the Platinum account is for advanced traders who prefer premium features and conditions. At last, the VIP account is for high-volume professional traders.
Cost Structure and Fees
- XPro Markets Fees
After examining the broker’s fee offering, we found that XPro Markets provides competitive pricing for the majority of trading services. The broker offers a spread-based structure for all its account types. The fees usually depend on the account type and the instrument traded. Overall, the broker’s fees are transparent and in line with the market average.
However, we urge traders to carefully review the broker’s fee structure and terms and conditions to gain a comprehensive understanding of the associated fees and their potential impact on trading operations.
- XPro Markets Spreads
Based on our test trade, the broker provides competitive spreads, with an average spread of 2.5 pips for the EUR/USD currency pair in the Forex market. The Gold spread for the Classic account is 2.8 pips. Spreads for higher volume account types are lower. For the Platinum account, the EUR/USD pair is 1.4 pips, and for the VIP account, even lower, starting at 0.9 pips.
- XPro Markets Commissions
XPro Markets offers its trading costs based on spreads. There are no commissions for any of its five account types.
Trading Platforms and Tools
Traders have access to the broker’s Webtrader platform while trading at XPro Markets. The platform offers a wide range of features, including technical indicators, user-friendly interfaces, advanced charting tools, and extensive trading capabilities, which are suitable for various trading strategies.
Web Platform
We found that the broker’s Webtrader offers users a seamless and user-friendly experience for buying and selling assets. With its intuitive design, real-time market data, advanced technologies, and comprehensive set of tools, the platform empowers traders with quick decision-making capabilities, thereby enhancing their overall trading experience. Traders can use over 30 analytical tools, access 10,000+ markets, enjoy one-click trading, and have control of open and closed positions. Besides, the platform does not require any downloads or installations, ensuring quick, flexible, and easy access to the account.
Desktop MetaTrader 4/5 Platforms
Based on our research, the broker previously included the MT4 platform in its proposal. However, at present, traders can conduct their trades only through the Webtrader platform. On the one hand, the platform ensures flexibility and ease of use; on the other hand, clients are limited to a single web option. MT4 and MT5 enthusiasts will likely find XPro Markets’ trading platform unsatisfactory.
MobileTrader App
XPro Markets does not offer a mobile app. It can be restricting for traders who prefer to access their trades through their phones and monitor them wherever they are. Although the web platform’s availability ensures a good level of flexibility, it still does not provide the same level of accessibility to the platform as the mobile app does.
Trading Instruments
XPro Markets provides access to popular trading instruments, such as Forex, CFDs, Indices, Cryptos, Metals, Commodities, and Shares. The broker enables traders to diversify their portfolios and participate in various markets according to their individual preferences and trading strategies.
With XPro Markets, traders can diversify their portfolios by 45+ currency pairs, the most popular commodities, and global indices with competitive prices and favorable trading conditions.
Main Insights from Exploring XPro Markets Tradable Assets
XPro Markets offers a good diversity of tradable products across a wide range of financial markets. The diversity enables clients to explore the market and expand their portfolios.
Clients have access to 45 major, minor, and exotic Forex pairs. They can also access popular metals like gold and silver and enjoy diversity by trading different commodities like cotton, sugar, cocoa, corn, and more. Besides, XPro Markets enables access to popular cryptos, including Bitcoin, Ethereum, Litecoin, Ripple, and Dogecoin. At last, traders can engage in stock trading on CFDs, accessing such popular names as Apple, Instagram, Nike, etc. However, trading stocks through CFDs does not allow traders to own shares and make traditional investments.
Deposit and Withdrawal Options
Deposit Options
Per our research, the broker offers a variety of payment methods for traders to deposit funds into trading accounts. However, some payment methods may have specific requirements or restrictions depending on the client’s bank or other financial institutions involved. Traders can deposit in a range of currencies, such as EUR, USD, CHF, and GBP. The funding methods include:
- Wire Transfers
- Credit/Debit cards
- and E-wallets
Minimum Deposit
To open a live trading account with the broker, clients need to deposit $250 as an initial deposit amount for all trading accounts.
Withdrawal Options
Based on our analysis, the withdrawal process takes from 8 to 10 business days, however, it may differ depending on the bank. The minimum withdrawal amount depends on the method used. For a credit card, the minimum amount is $10, while for a wire transfer, the minimum is $100. The broker reserves the right to charge withdrawal fees. The fees depend on circumstances, like the method used and other conditions.
Customer Support and Responsiveness
The broker offers 24/7 customer support via live chat, email, phone lines, and social media channels. Additionally, the support team includes trading experts who can assist with technical support, analysis recommendations, general inquiries, and operational issues.
- The broker also has an informative FAQ section with answers to the most common and essential trading-related questions.
Research and Education
Research Tools
The research tools and features with XPro Markets are primarily available through the broker’s Webtrader platform. It provides good charting and analytical tools to assist in efficient trading. Separately, traders can also access a few additional tools via the broker’s website.
- The Economic Calendar is one of the most essential and sought-after tools among traders. It helps traders be aware of the upcoming market changes and events, and make informed decisions based on the provided updates.
- The all-inclusive chart analysis widget assists traders in monitoring their trades and getting updates on the ever-changing market. To access the feature, users need to open an account with the broker.
Education
The broker offers learning materials through its Trading Central, which provides access to independent research and leading analysis data to support traders’ investment strategies. However, it lacks in offering seminars and webinars. For traders seeking more comprehensive educational resources, we suggest exploring other brokers that provide a broader range of learning opportunities.
