Position in Rating | Overall Rating | Trading Terminals |
189th  | 2.7 Overall Rating |  |
XPro Markets Review
A reliable Forex broker ensures that your Forex trading transactions are secure and executed promptly, provides transparent information about fees and spreads, and supports you with educational resources and responsive customer service. Making an informed choice in selecting a broker can enhance your trading efficiency, minimize risks, and help you achieve your financial goals.
XPro Markets is a South African-based broker offering trading services in Forex, CFDs on stocks, commodities, indices, and cryptocurrencies. They provide a user-friendly trading environment with the popular MetaTrader 4 platform, which supports automated trading and in-depth market analysis tools.
In this detailed review, I aim to provide a thorough evaluation of XPro Markets, highlighting its unique selling points and potential drawbacks. My objective is to equip you with essential insights about the broker, including the various account options available, deposit and withdrawal processes, commission structures, and other crucial details. Combining expert analysis and actual trader experiences, I provide a balanced perspective to help you make an informed decision about considering XPro Markets as your preferred brokerage service provider.
What is XPro Markets?
XPro Markets is a Forex and CFD broker based in South Africa, offering a wide range of trading services. They provide access to various financial instruments, including Forex, commodities, stocks, indices, and cryptocurrencies. The broker is known for its user-friendly trading environment and support for the popular MetaTrader 4 platform.
One of the standout features of XPro Markets is the variety of account options available, catering to different levels of traders. From the Classic to the VIP account, each type offers unique benefits such as higher leverage and lower spreads. This flexibility ensures that both novice and experienced traders can find an account that suits their needs.
Depositing and withdrawing funds with XPro Markets is straightforward, with multiple payment methods available, including credit/debit cards and bank transfers. They also offer alternative payment methods to accommodate a broad range of preferences. This ensures that managing your funds is as hassle-free as possible.
Benefits of Trading with XPro Markets
Trading with XPro Markets offers several key advantages that enhance the overall trading experience. One major benefit is their user-friendly trading platforms, such as MetaTrader 4, which provide advanced tools for analysis and automated trading. This makes it easier to execute trades efficiently and stay on top of market movements.
Another significant advantage is the variety of account types available. XPro Markets caters to traders at all levels by offering different accounts with varying features, from the Classic to the VIP accounts. This flexibility allows you to choose an account that aligns with your trading style and financial goals, ensuring that you get the best possible trading conditions.
Security and regulation are also top priorities at XPro Markets. Being regulated by CySEC, the broker adheres to strict financial standards, which provides peace of mind regarding the safety of your funds. They also implement secure deposit and withdrawal processes, ensuring that your transactions are handled safely and efficiently.
XPro Markets Regulation and Safety
XPro Markets operates under the regulation of the Cyprus Securities and Exchange Commission (CySEC), which is known for its stringent compliance standards. Being regulated by CySEC means that XPro Markets must adhere to strict financial rules and transparency guidelines, which helps protect traders’ funds and personal information. This regulation provides a layer of security, ensuring that the broker operates fairly and ethically. Other than CySEC, it is also regulated by the Financial Sector Conduct Authority of FSCA.
When trading with XPro Markets, it’s reassuring to know that your funds are kept in segregated accounts. This practice ensures that client funds are separate from the broker’s operational funds, enhancing the security of your investments. Additionally, XPro Markets is a member of the Investor Compensation Fund (ICF), which provides compensation to clients in the event of the broker’s insolvency. This offers an extra layer of protection and peace of mind for traders.
XPro Markets Pros and Cons
Pros
- User-friendly trading platforms
- Wide range of account types
- Comprehensive educational resources
- Regulated by CySEC and FSCA
- Secure deposit and withdrawal options
- 24/5 customer support
Cons
- Not available in the USA, Canada, Australia, and some EU countries
- High spreads on lower-tier accounts
- Minimum deposit requirement of $250
- Mixed user reviews on support quality
- Limited withdrawal options for some regions
XPro Markets Customer Reviews
Customer reviews of XPro Markets present a mixed picture. Some users have reported issues with withdrawal delays and poor customer support response times, which can be frustrating, especially in urgent situations. However, these problems were often resolved after leaving reviews, as one user received their funds the same day after initially facing issues. On the positive side, traders appreciate the educational resources and overall cost-benefit ratio provided by the broker. Nevertheless, there are calls for improvements in customer service, particularly during peak hours, to ensure quicker response times.
XPro Markets Spreads, Fees, and Commissions
When trading with XPro Markets, the spreads and fees vary depending on the account type. For instance, the Classic account typically has spreads starting from 2.5 pips, while the VIP account offers more competitive spreads starting from 0.9 pips. This means that higher-tier accounts can provide better trading conditions, which is beneficial if you’re looking to minimize trading costs.
One aspect I noticed is that XPro Markets does not charge commissions on most trades. Instead, they primarily make money through the spreads. This can be advantageous as it simplifies the fee structure and makes it easier to calculate potential trading costs. However, it’s important to be aware of potential overnight fees, especially if you plan to hold positions for more than a day.
Additionally, XPro Markets has a minimum deposit requirement of $250, which is something to consider when opening an account. The deposit and withdrawal processes are straightforward, but there can be delays, as mentioned by some users. Understanding these fees and conditions is crucial to effectively managing your trading budget and avoiding unexpected costs.
Account Types
Here are the different types of XPro Markets trading accounts that they offer:
Classic Trading Account
- Basic options and opportunities
- Spreads from 2.5 pips
- No swap-free option available
- NDD (No Dealing Desk) execution
Silver Trading Account
- Swap-free option available
- Minimum spread from 0.07 pips
- Spreads for EUR/USD from 2.5 pips
- NDD execution
Gold Trading Account
- Spreads from 0.05 pips
- Personal client service manager
- Spreads for EUR/USD from 1.8 pips
- NDD execution
- Swap-free option available
Platinum Trading Account
- Spreads starting at 0.03 pips
- Spreads for EUR/USD at 1.4 pips
- Islamic accounts available
- Assistance from a personal account manager
VIP Trading Account
- Spreads starting at 0.9 pips
- Swap-free trading
- NDD execution
- Senior client service manager assistance
How to Open Your Account
- Visit the official XPro Markets website.
- Click the “Create Account” or “Start Trading Now” button on the homepage.
- Fill in your first and last names, phone number, and email address.
- Upload a photo of a valid ID document for identification purposes.
- Provide proof of residence, such as a utility bill or bank statement.
- Upload a color image of both sides of your bank card, showing the first 6 and last 4 digits.
- If using an e-wallet, send a screenshot showing the owner’s name and email.
- Complete the registration by reviewing and accepting the terms and conditions.
XPro Markets Trading Platforms
From my experience, XPro Markets offers traders access to the renowned MetaTrader 4 (MT4) platform. MT4 is widely used in the trading community due to its advanced charting tools and automated trading capabilities. The platform allows me to analyze markets efficiently with various technical indicators and graphical tools, which significantly aids in making informed trading decisions.
One of the features I find most beneficial is the platform’s support for automated trading through Expert Advisors (EAs). This allows me to implement and test trading strategies without constant manual input. The user-friendly interface of MT4 makes it accessible for both beginners and experienced traders, ensuring that everyone can navigate the platform with ease.
Additionally, XPro Markets provides a web-based trading platform that does not require any downloads. This web platform is modern, sleek, and designed for convenience, allowing me to access my account and trade from any device with internet access. The seamless integration across devices ensures that I can manage my trades efficiently, whether I’m at home or on the go.
What Can You Trade on XPro Markets
XPro Markets offers a diverse range of trading instruments, providing plenty of opportunities to diversify your portfolio. You can trade over 160 different assets, including popular currency pairs, cryptocurrencies, indices, metals, energies, and stocks. This extensive selection allows traders to engage in various markets and explore multiple trading strategies to maximize potential returns.
In my experience, having access to such a wide array of instruments enhances the trading experience by providing flexibility and numerous opportunities to capitalize on market movements. The platform’s support for CFDs (Contracts for Difference) means you can speculate on the price movements of these assets without needing to own them physically. This feature is particularly useful for short-term traders looking to take advantage of market volatility.
Furthermore, XPro Markets offers competitive trading conditions across these instruments. For example, the spreads on currency pairs like EUR/USD start from 1.8 pips for higher-tier accounts, which can be crucial in minimizing trading costs. The inclusion of commodities and metals also
XPro Markets Customer Support
From my experience, XPro Markets offers comprehensive customer support to address any trading-related issues or inquiries. They provide live chat support for immediate assistance, which is available directly through their website. This feature ensures that you can get quick responses to your questions, whether it’s about platform functionality, account management, or general trading queries.
In addition to live chat, XPro Markets has dedicated phone support, allowing you to speak directly with their customer service representatives. The phone numbers available for support are +27870948672 and +27101573383, providing a reliable way to resolve more complex issues that might require detailed explanations. This multi-channel approach to customer support ensures that traders have access to help whenever they need it.
For non-urgent matters or detailed queries, you can also reach out to XPro Markets via email at [email protected]. This option is particularly useful for sending documents or getting written confirmations on specific issues. The combination of email, live chat, and phone support makes it easy to get the help you need, ensuring a smooth and efficient trading experience.
Advantages and Disadvantages of XPro Markets Customer Support
Advantages
DisadvantageWithdrawal Options and Fees
Withdrawing funds from XPro Markets can take 8-10 business days depending on the client’s local bank or the regulations of the selected electronic system. This timeline ensures that you can plan your finances accordingly while waiting for the funds to be processed and credited to your account.
The minimum withdrawal amount is set at $100 for bank transfers and $10 for bank cards, making it accessible for various withdrawal needs. If you’re using e-wallets, you can withdraw any amount as long as it covers the payment system’s fee, providing flexibility for smaller withdrawals.
Your first withdrawal is free if your account is verified and you have opened at least one trade. If these conditions aren’t met, there is a fee of $10, €10, or JPY 1,500. For subsequent withdrawals, the fees are 3.5% for bank cards and e-wallets and $30/€30/JPY 4,200 for wire transfers. This fee structure is important to consider when planning your withdrawals to minimize costs.
XPro Markets Vs Other Brokers
#1. XPro Markets vs AvaTrade
XPro Markets offers a wide range of trading instruments, including Forex, commodities, indices, stocks, and cryptocurrencies, with competitive spreads and a focus on education and customer support. AvaTrade, on the other hand, provides a more extensive range of trading platforms, including MT4, MT5, and AvaOptions, and is known for its robust regulatory framework and extensive educational resources. AvaTrade also offers a dedicated social trading platform, AvaSocial, which enhances the trading experience for users who prefer social trading.
Verdict: AvaTrade is the better option due to its broader platform selection, stronger regulatory oversight, and additional social trading features, making it more suitable for traders seeking diverse tools and security.
#2. XPro Markets vs RoboForex
XPro Markets emphasizes user-friendly trading platforms and a comprehensive educational suite, catering to both novice and experienced traders. RoboForex, however, stands out with its wide variety of account types, competitive spreads, and access to both MT4 and MT5 platforms. Additionally, RoboForex offers a proprietary trading platform, R Trader, and unique features like a VPS service and Cashback rebates, which can be appealing for more advanced traders looking for enhanced trading conditions and additional perks.
Verdict: RoboForex has an edge due to its versatile account options, additional platform choices, and attractive features like VPS and Cashback rebates, making it more suitable for advanced traders.
#3. XPro Markets vs Exness
XPro Markets provides a solid trading environment with a focus on customer support and educational resources, utilizing the MetaTrader 4 platform. Exness, however, excels in offering extremely low spreads, high leverage options, and a wider array of trading platforms, including MT4, MT5, and their own Exness Terminal. Exness is also well-regulated and provides instant withdrawals, which enhance the overall trading experience by offering greater flexibility and efficiency in managing funds.
Verdict: Exness is superior due to its lower spreads, higher leverage, and multiple platform options, along with the added benefit of instant withdrawals, making it a more attractive choice for traders seeking flexibility and cost-efficiency.
Also Read: AvaTrade Review 2024- Expert Trader Insights
OPEN AN ACCOUNT WITH XPRO MARKETS
Conclusion: XPro Markets Review
Based on my experience and user feedback, XPro Markets offers a robust trading environment with user-friendly platforms and comprehensive educational resources. Their diverse account types cater to traders of different levels, and the availability of various trading instruments provides ample opportunities for portfolio diversification.
However, it’s important to note some drawbacks, such as withdrawal delays and relatively high spreads for lower-tier accounts. Additionally, the response times during peak hours can be slow, which might affect timely assistance. Overall, XPro Markets is a solid choice for traders, but potential users should weigh these pros and cons carefully before committing.
XPro Markets Review: FAQs
How long does it take to process a withdrawal from XPro Markets
Withdrawals typically take 8-10 business days, depending on your local bank or the selected electronic system.
What is the minimum deposit required to open an account with XPro Markets?
The minimum deposit required to open an account is $250.
Are there any fees for withdrawing funds from XPro Markets?
The first withdrawal is free if your account is verified and you have made at least one trade. Subsequent withdrawals incur a fee: 3.5% for bank cards and e-wallets, and $30/€30/JPY 4,200 for wire transfers.
OPEN AN ACCOUNT NOW WITH XPRO MARKETS AND GET YOUR BONUS
