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The WikiFX Score of this broker is reduced because of too many complaints!

XPro Markets

South Africa|2-5 years|
Regulated in South Africa|Financial Service Corporate|MT4/5 White Label|Regional Brokers|Suspicious Overrun|High potential risk|


Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

Server Name
UkuchumaFinancial-Demo MT4
Server Location United Kingdom


+27 870948672
Office 1-14 1ST Floor Workshop17, 138 West Street, Sandown Sandton Gauteng 2196, South Africa
The WikiFX Score of this broker is reduced because of too many complaints!


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XPro Markets

Contact number


+27 870948672


+27 101573383



Broker Information


Company Name

Ukuchuma Financial Services (PTY) LTD

Company Abbreviation

XPro Markets

Platform registered country and region

South Africa

Company website

Pyramid scheme complaint


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Warning: Low score, please stay away! 3
Previous Detection : 2023-12-09
  • The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

WikiFX Verification

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Pyramid scheme complaint
Unable to withdraw

All principal has been lost and cannot be withdrawn

I invested excessively in addition to the money I had originally. It guarantees a certain profit. I invested because I needed a lot of money, but even the principal is lost now and it is impossible to withdraw. Originally, the principal was guaranteed.

2022-04-28 15:32
Unable to withdraw

Cancellation of withdrawal without any reason

It all started on October 17, 2023 when after some talks about how to use the platform, the Broker "Lucas Monfort" who I consider a fictitious name, "guided" me with the process to work the platform and generate profits. After talking, he managed to persuade me that if I deposited a sum of 3000 dollars they would reward me with 2000 dollars, I entered 3740 dollars to operate and indeed the market increased exponentially and thus generated a sum of 7700 dollars. The next day, October 18, 2023, the person Lucas Monfort called me from different numbers every minute and wrote to me through the Telegram application, he told me that he would cancel the profits to continue investing and it was at that moment where I began to read people's experiences. that once worked they generated a profit of 7,700 dollars, at that precise moment I began to read several reviews from people who had lost all their money with them so I refused to agree to the cancellation. He called me every day to do it and I didn't do it. On Thursday they deposited 300 dollars with me in order for me to release my profits, however I did not do so either, it should be noted that since Tuesday, October 17, my accounts appeared with the withdrawal pending. What happened next was that yesterday, Monday, October 23, he told me that we would operate with a bonus that had been approved for me, I agreed to work that money and I thought that maybe this way they could get the profits from them and they would release my money faster, however, minutes later, my account was negative, I had a debt of -1200 dollars where they told me that I had to deposit an amount of 1200 from my cards to compensate for that loss. I didn't do it, so they sent me an email telling me that my account had been completed, I logged in and everything was at zero, and minutes later they sent me another email CANCELING MY WITHDRAWALS due to "Insufficient balance." I started sending emails to request my money, I sent an email to the Financial Sector Conduct Authority in South Africa, since they are the country's superintendent, complaining about the case, however I have not received any response. I am afraid of losing this money since it was from a credit card, when I did not have this money in account and just like that out of nowhere I lost everything. The Broker Lucas Monfort calls me and sends me messages to invest more to recover that "lost" money when that was easily a SCAM. These people are not professionals, they only care about stealing your money, the system says that it takes 3 days to deposit, however this is the example where we see that it is not true... I hope you can help me soon, I need to get my money back.

2023-10-25 11:25

    XPro Markets · Company Summary

    Registered in South Africa
    Regulated by No effective regulation at this time
    Year(s) of establishment 1-2 years
    Trading instruments currency pairs, indices, commodities, metals, energies, cryptocurrencies, stocks
    Minimum Initial Deposit 250 EUR/USD or 34500 JPY
    Maximum Leverage 1:400
    Minimum spread 0.9 pips onwards for EURUSD
    Trading platform MT4, webtrader
    Deposit and withdrawal method credit card, APMs and bank transfer
    Customer Service phone number, email, an address and social media
    Fraud Complaints Exposure Yes

    It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

    In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

    Pros and cons of XPro Markets


    • Offers a wide range of instruments to trade, including Forex, stocks, indices, and commodities.

    • Provides popular and sophisticated trading platforms, including MT4 and WebTrader.

    • Offers high leverage of up to 1:400 for all account types.

    • Provides 24/7 customer support through multiple channels, including phone, email, and social media.

    • Offers a variety of educational resources to help traders improve their knowledge and skills.

    • Offers competitive spreads on certain account types.

    • Provides multiple payment options for deposits, including credit card, APMs, and bank transfer.


    • XPro Markets charges inactivity and maintenance fees for dormant accounts, which is not very competitive.

    • The company does not provide clear information on the minimum deposit required to open different account types.

    • XPro Markets charges withdrawal fees depending on the circumstances, which can be a disadvantage for traders.

    • The educational resources provided by the company may not be enough to help traders achieve success without real trading experience.

    • The company's website lacks transparency on certain important aspects, such as the minimum deposit required to open different account types.

    What type of broker is XPro Markets?

    Advantages Disadvantages
    XPro Markets offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' trades, XPro Markets has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients.

    XPro Markets is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, XPro Markets acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that XPro Markets has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with XPro Markets or any other MM broker.

    General information and regulation of XPro Markets

    XPro Markets is an online forex broker that provides access to a wide range of financial instruments for trading. The company offers four different account types with variable spreads, leverage of up to 1:400, and a choice of two popular trading platforms - MT4 and WebTrader. They also provide educational resources for traders and 24/7 customer support in multiple languages. XPro Markets accepts deposits in EUR, USD, and JPY via credit cards, APMs, and bank transfers. The minimum deposit amount is 250 EUR/USD or 34500 JPY.

    In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.

    Market instruments

    Advantages Disadvantages
    Wide range of assets available Unregulated company
    Diversification of trading opportunities Limited information on trading conditions
    Opportunities to trade different markets Lack of clarity on asset pricing
    Opportunities for traders to spread risk Potentially higher risk due to lack of regulation
    Potential for higher returns Limited customer protection in case of disputes

    XPro Markets offers its traders a variety of assets to trade, including currency pairs, indices, commodities, metals, energies, cryptocurrencies, and stocks. The availability of multiple asset classes provides traders with opportunities for diversification and to spread risk across different markets. Traders also have the potential for higher returns due to the wide range of assets available. However, it is important to note that XPro Markets is an unregulated company, which may pose a potential risk for traders. Additionally, there is limited information available on the trading conditions and pricing of assets. Furthermore, there may be limited customer protection in case of disputes.

    market instruments

    Spreads and commissions for trading with XPro Markets

    Advantages Disadvantages
    VIP account with lower spreads Varying spreads and fees
    Different account types with different spreads Inactivity fee for dormant accounts
    Maintenance fee every month

    Different account types are available, each with varying spreads. The classic and silver accounts have the same level of spreads, while gold has lower spreads. The VIP account offers the lowest spreads, with 0.9 pips for EURUSD, 1.4 pips for GBPUSD, and $0.1 for crude oil. However, the company charges an inactivity fee for dormant accounts after one month, which may not be competitive with other companies in the industry. Additionally, a maintenance fee is charged every month, which can add up over time.

    spreads and commissions
    fees and charges


    Advantages Disadvantages
    Clear and detailed information on SWAPs for various instruments SWAP rates are not very competitive compared to other brokers
    Transparency on calculation of SWAPs SWAP rates are not fixed and can change frequently
    Ability to calculate potential SWAP costs beforehand SWAPs may be a cost that traders may overlook when considering trades
    Helpful for traders who hold positions for a longer time SWAPs can sometimes be confusing for new traders

    XPro Markets provides clear and detailed information on SWAPs for various instruments, including the long and short SWAP rates. This transparency is helpful for traders who hold positions for a longer time and need to know potential SWAP costs beforehand. The ability to calculate SWAPs beforehand can help traders make more informed decisions about their trades. However, the SWAP rates offered by XPro Markets are not very competitive compared to other brokers, and the rates are not fixed, so they can change frequently. Additionally, SWAPs can sometimes be a cost that traders may overlook when considering trades, and they may be confusing for new traders.


    Trading accounts available in XPro Markets

    Advantages Disadvantages
    Multiple account types to choose from Information about minimum deposit is missing
    Variation in spreads and SWAPs discount Unclear if there is a demo account offered
    Possibility of selecting preferred account based on individual financial goals and trading experience

    XPro Markets offers potential clients different account types to choose from with variations in spreads and SWAPs discounts. This allows individuals to select an account type that suits their financial goals and trading experience. However, the website does not provide information about the minimum deposit required for each account type, which may be a disadvantage for some traders. Additionally, it is not yet known if XPro Markets offers a demo account for those who wish to test their trading skills without the risk of losing money.

    account types

    Trading platform(s) that XPro Markets offers

    Advantages Disadvantages
    MT4 and WebTrader platforms No proprietary trading platform
    Popular and sophisticated Limited customization options
    Suitable for various devices Limited educational resources on trading platforms
    User-friendly interface No mobile app for WebTrader platform
    Advanced charting tools No back-testing functionality on WebTrader platform

    XPro Markets provides traders with two popular and advanced trading platforms, MT4 and WebTrader, which can be accessed from various devices. Both platforms offer advanced charting tools, a user-friendly interface, and a range of trading tools and indicators to help traders analyze the markets and make informed trading decisions. However, the company does not offer a proprietary trading platform, which may be a disadvantage for some traders. Additionally, the customization options for both platforms are limited, and there are no back-testing functionalities on the WebTrader platform. Lastly, while there is a mobile app available for the MT4 platform, there is no mobile app for the WebTrader platform. Overall, XPro Markets' trading platforms are suitable for traders with different levels of experience, but there is room for improvement in terms of customizability and functionalities.

    trading platform

    Maximum leverage of XPro Markets

    Advantages Disadvantages
    Allows for potentially higher profits with smaller initial investment Higher leverage also means higher risk of significant losses
    Gives traders the ability to trade larger positions Traders may be more prone to making impulsive decisions due to the increased risk
    Can provide greater flexibility in trading strategies Some regulatory bodies have imposed limits on maximum leverage, which can affect trading with certain markets
    May attract traders who prefer high-risk, high-reward trading Not suitable for inexperienced or risk-averse traders

    XPro Markets offers a maximum leverage of 1:400 for all account types, which can provide several advantages and disadvantages to traders. On one hand, higher leverage allows for potentially higher profits with a smaller initial investment and gives traders the ability to trade larger positions. It also provides greater flexibility in trading strategies and may attract traders who prefer high-risk, high-reward trading. On the other hand, higher leverage also means higher risk of significant losses and traders may be more prone to making impulsive decisions due to the increased risk. Additionally, some regulatory bodies have imposed limits on maximum leverage, which can affect trading with certain markets. Therefore, while high leverage can offer several benefits, it may not be suitable for inexperienced or risk-averse traders.

    Deposit and Withdrawal: methods and fees

    Advantages Disadvantages
    Multiple Payment Methods Withdrawal Fees Charged
    Minimum Deposit Amount of 250 EUR/USD or 34500 JPY Long Processing Time for Withdrawals
    Clear and Detailed Information on Deposit Options High Withdrawal Fees for Bank Transfers
    Low Withdrawal Fees for Credit Cards at 10 EUR/USD/JPY No Mention of Deposit or Withdrawal Bonus

    XPro Markets offers a variety of payment methods for deposits and withdrawals, including credit cards, APMs, and bank transfer, making it easy and convenient for traders to manage their funds. The minimum deposit amount is reasonable at 250 EUR/USD or 34500 JPY. However, there are some disadvantages to consider, such as the withdrawal fees charged by the company, the long processing time for withdrawals, and the high withdrawal fees for bank transfers. It's also worth noting that there's no mention of any deposit or withdrawal bonuses offered by XPro Markets. Overall, while there are some downsides, the multiple payment methods and clear information on deposit options make XPro Markets a decent choice for depositing and withdrawing funds.

    deposit and withdrawal

    Educational resources in XPro Markets

    Advantages Disadvantages
    Wide range of educational resources Real trading is the best teacher
    Trading center with various trading tools and indicators Limited interactivity with the educational resources
    Live market overview and chart analysis Limited depth of the educational resources
    Economic calendar with relevant news events Educational resources cannot guarantee profitability
    E-books and interactive courses available

    XPro Markets provides a comprehensive set of educational resources to support traders in their learning journey. These resources include a trading center with various trading tools and indicators, live market overview and chart analysis, an economic calendar with relevant news events, as well as e-books and interactive courses. While these resources are valuable, it is important to note that real trading experience is the best teacher in Forex trading. The educational resources may provide a good foundation, but they cannot guarantee profitability, and their depth may be limited. However, for traders looking to enhance their knowledge and skills, XPro Markets' educational resources can provide a good starting point.

    educational resources

    Customer service of XPro Markets

    Advantages Disadvantages
    24/7 accessibility
    Multiple contact modes

    XPro Markets' customer service offers various ways for customers to reach out for support. With its availability 24/7, it provides flexibility for traders from different time zones. It also offers different contact modes, such as phone, email, and social media, which gives customers options to choose the most convenient way to reach them. Additionally, the website is available in more than 15 languages, which means that XPro Markets has a more extensive reach and can provide assistance to a broader range of customers. Overall, XPro Markets' customer care is an advantage that can be beneficial for its customers. The multilingual support is also an advantage of this company.

    multilingual service


    XPro Markets is an online broker that offers its clients a wide range of financial instruments to trade with, including forex, stocks, indices, and commodities. The broker provides its clients with competitive trading conditions, such as tight spreads, high leverage, and fast execution speeds, making it an attractive choice for traders of all levels. XPro Markets offers its clients multiple account types to choose from, including Classic, Silver, Gold, and VIP accounts, each with its own unique set of benefits. The broker also provides excellent customer support services that are available 24/7 via various channels, including phone, email, and social media. While XPro Markets has some drawbacks, such as the lack of transparency around certain aspects of its trading conditions, the company still offers a reliable trading experience overall.

    Frequently asked questions about XPro Markets

    • Question: What is the minimum deposit amount?

    • Answer: The minimum deposit amount is 250 EUR/USD or 34500 JPY.

    • Question: What trading platforms are available on XPro Markets?

    • Answer: XPro Markets offers two popular trading platforms, MT4 and WebTrader, which are accessible from various devices.

    • Question: What is the maximum leverage offered by XPro Markets?

    • Answer: The maximum leverage offered by XPro Markets is up to 1:400 for all account types.

    • Question: What is the process of opening an account with XPro Markets?

    • Answer: To open an account with XPro Markets, you need to fill out a registration form on their website, verify your identity and make a deposit.

    • Question: How can I contact customer service?

    • Answer: You can contact XPro Markets customer service via phone number, email, address or social media, which are available 24/7.

    • Question: Does XPro Markets offer educational resources?

    • Answer: Yes, XPro Markets offers a variety of educational resources, such as trading center, live market overview, chart analysis, economic calendar, e-books and interactive courses.


    WikiFX Review: Traders need to understand the current situation of XPro Markets

    ExposureWikiFX Review: Traders need to understand the current situation of XPro Markets

    2023-01-28 16:18

    XPro Markets is a South Africa-based broker. This broker claimed to offer clients a couple of financial instruments. It catches our attention because we recently received a complaint related to this broker. WikiFX has comprehensively reviewed XPro Markets from several perspectives.

    2023-01-28 16:18
    WikiFX Review: Traders need to understand the current situation of XPro Markets
    XPro Markets Ignoring Withdrawal Requests

    ExposureXPro Markets Ignoring Withdrawal Requests

    2022-08-08 18:00

    Unable to withdraw one’s funds is by far the most worrisome situation that a forex trader could face. Therefore, it is crucial to spend time doing your due diligence before engaging with any forex broker. Use the free database and platform of WikiFX to verify your forex broker at ease.

    2022-08-08 18:00
    XPro Markets Ignoring Withdrawal Requests

    User Reviews

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    My Account number is 70147179 are nothing but scamsters, they strategically invest in trades that will surely make loses and will never allow you to withdraw money. People in this company like Osaja, Mahir, Ali etc suck out all your hard earned money. If you are a fresher to trading, they will take complete advantage of this. Phase 1:You will be asigned a Senior Manager for your portfolio (in my case it was a fraudster named Osaja). He will speak in a vey friendly way and will show you high dreams, in a zoom call he will ask you to share your screen and make the initial investment, by this time he will know how much is in your account and he will plan his future steps accordingly. After the first investment is made, he will show you small profits of about 300 dollars and even allow you to withdraw 150 dollars, tis is when you feel everything is going fine Phase 2: Now that you have earned some money, your manager will show all kinds of charts and future planning and make you to believe that you will earn 3k dollars on a monthly basis, if you make a 2nd investment then this is the time he will start scamming you, they will knowingly make you invest in trades that will surely give you loses and will start bringing down your portfolio Phase 3: When ever you are in need of money and want to withdraw some amount, they will not allow you to do by saying and giving all sorts of calculations. This is the time you start loosing your capital and never recover
    2023-08-16 12:57
    more than one year
    I cannot believe Xpro market’s official has been shut down this way… I registered a trading account here six months ago, and I didn’t trade often. Almost forget I have $500 in my account…
    2023-02-20 10:19
    Daniel Parada
    The company's advisors encourage you to carry out transactions that will take you to the brink of losing everything in an effort to request more money to save the account and in this way you will enter more until you have no money left and once this happens you will you will lose everything due to the unscrupulous advice of this company. I fell into their trap and I hope no one else goes through this
    2023-01-10 10:33
    more than one year
    Garbage black platform! Gang of liars! It is easy to deposit money and difficult to withdraw money! They are not subject to any legal supervision at all, and they continue to bluff and deceive. These liars have no heart at all!
    2022-12-14 17:55
    more than one year
    A friend introduced me to this platform. I didn’t expect it to be a black platform. They kept persuading me to deposit money. I didn’t expect that I was losing money all the time. In the end, they still wouldn’t let me withdraw money. I lost close to 5,000 dollars here and they haven't given me any explanation so far. In short, do not deposit money on this platform.
    2022-12-13 09:46
    more than one year
    As a beginner, I am very happy to find a good broker to study some forex trading knowledge. They offer trading e-books and interactive courses, which are very helpful for me to get started. But I still have some difficulties understanding part of them, so I have to ask their customer support, sometimes they can answer fast, but sometimes they can’t. Overall they are good.
    2022-11-25 11:39
    more than one year
    Xpro Markets does provide educational resources, quite friendly to beginners. But I do feel that its trading conditions, like spreads, not competitive enough… Another problem is their customer service, when typing for something related to trading conditions, what you’ll get is constant requests for deposits.
    2022-11-24 17:33
    more than one year
    Friends who do not want to be cheated, please stay away from the so called XPro Markets platform. It lures them with various favorable trading conditions and avoids regulatory issues. Their purpose is only to cheat money. So far, all my withdrawal requests have been rejected.
    2022-11-21 09:55
    more than one year
    They are the same as UKUCHUMALTD from South Africa- SCAMMERS
    2022-11-16 04:50
    more than one year
    2022-11-16 04:48
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