XPro Markets is not a regulated or licensed broker for traders even though it states offers that look good to be true.
XPro Markets claims to be owned and operated by UKUCHUMA FINANCIAL SERVICES (PTY) LTD, a firm authorized and regulated by the Financial Sector Conduct Authority (FSCA) with FSP license number: 32535. We indeed find a match result to the license number in FSCA, but as per the regulatory details shown on FSCA, this firm is not authorized to provide derivative investment. That means XPro Markets is not authorized to provide forex services or products.
Besides, XPro Markets also mentions on its website that UKUCHUMA FINANCIAL SERVICES (PTY) LTD and IGM Forex Ltd belong to the same group of Companies. IGM Forex Ltd, a company regulated by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number: 309/16. We also found a match result to the license in CySEC, but we found the domain of XPro Markets is not included in the approved domains of IGM Forex Ltd. That means XPro Markets has no connection with this CySEC-regulated firm.
The truth is, XPro Markets is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like XPro Markets and trade with licensed brokers.
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