Best Forex Broker

XPro Markets Review

XPro Markets is a young Forex broker in South Africa, that opened for business in April of 2019. They are licensed and regulated in South Africa by the FSCA. Customer support email is: [email protected]. Official website site is: https://xpromarkets.com/.

Traders with withdrawal problems & complaints should read this.

XPro Markets Broker Reviews

Investors at XPro Markets are given access to the MT4 trading platform, which has a Desktop trading app, or a web-based trading app. For mobile trading, XProMarkets uses that classic MT4 trading apps for Android & iOS. They offer a wide variety of assets to trade including; Forex / Currency pairs, Commodities (oil, gold silver), Indices and CFD’s for shares trading.

The maximum Leverage / Margin rate offers is 400:1, and the starting spreads range from 0.9 pips to 2.8 pips. You can create multiple demo trading accounts to test out the platform and your trading strategies, but you will need to first verify your profile. The minimum required deposit for a the standard account is $250, and they have four types of trading accounts.

At a broker like ForTrade, you can start trading with just $100.

Algorithm Crypto Trading Apps

Once you have created your account, you will be redirected to the trading dashboard where they will request you make a deposit. Once you have made a deposit, you will still not see any automated trading app. The reason being that no such trading app exists. It is simply a marketing ploy to get you to invest with this broker.

Copy Trading is a popular feature for new Forex investors because they are hoping another Forex trader will do the hard work for them. When choosing the right copy trader, it is important to closely analyze the performance, and even more so, understand the terminology. Instead of looking at the traders with this highest returns, dig deeper, and check their drawdown stats.

Look at the social trading offered by the popular broker AvaTrade.

Warning! Do Not use an Automated trading app, until you read this!

Is XPro Markets a Legit Broker?

Yes, XPro Markets is an FSCA regulated CFD broker, with license number 32535, since September 11th 2007. You can see their official license on the FSCA website.

Officially owned and operated by: Ukuchuma Financial Services pty ltd, registration number is 2020/735868/07. Their offices are located at: Office 1-14 1ST Floor Workshop17, 138 West Street, Sandown Sandton, Gauteng 2196, South Africa. Contact phone number is: +27870948672.

The way day traders know if their broker is legit and not a scam, is by verifying their license at the government regulator. When you see that they have a valid license, from your government financial regulator, then you will know that they are a legal broker. Malaysian brokers need to have a license from Securities Commission Malaysia in order to provide investment services.

Compare Top Brokers

There are many Forex brokers online, and they are all vying for your business. You should test out a few different brokers, and see which one is the best for your trading needs. Always verify that your broker is licensed by your local financial regulator (i.e. FCA United Kingdom).

ForTrade is a popular broker, that is licensed and regulated in the United Kingdom, Europe, Canada and Australia, see here.

They have a nice trading app plus Free Demo Accounts. Learn more at: ForTrade.com.

What was your trading experience like with the brokers at XPro Markets? Write your review in the comment section below.