XPro MarketsReviews 152

Yet another fraud attempt by XPro Markets
This time they are posing to be officer from the CySec. They call you and tell that they have all of your trading account details alongwith the transaction which you did with xpro markets and they will say that they are legal authority and will return your money in the form on Crypto currency. They will ask you to download Coinbase app to register yourself on it and there the fraud begins. This is a next level of fraud by this company.

I got multiple calls and an Email which says:-

Dear Sir/Madam,

This is *, as I promised you, I'm sending you this mail.

We received your information from our license, the trading company (investment platform).

Trading company is blocked by our license, (XPRO)
Reason: Bankruptcy, Scam deposits

All accounts have been frozen
Soo as license we are responsible for refund your invested amount( profit amount on trading platform will not be deducted on refund,)
You will receive refund from the amount you have invested.

This refund will not cost or charge you any fee!

Please contact this mailing address, as soon as possible.
With Pdf you will receive your refund information.

Best Regards,

*, Certified Financial Officer
Cyprus Securities and Exchange Commission

There are lot of red flags in this email. When I caught their lies and told them that I have forwarded their details to the Cyber crime division for further investigation, that person stopped calling and emailing me immediately. Note: The CySec has a.com domain and is in Cyprus whereas the email which you receive has a.gl domain which is of Greenland. Please don't fall for this fraud. Be vigilant.

* Personal details redacted by admin

Rade carefully folks. This is a very risky area and trust me when I say this, you cannot just start with a mere USD 250 deposit as they have mentioned on their website. Once you deposit the initial USD 250 into your trading account that's when the game begins.
1. The account manager calls you and explains about the CFD trading
2. Then they say that USD 250 is not enough as there should be good amount of free margin kept. (For example, if you deposit USD 1000 then only USD 250 out of it can be used for trading, rest has to be kept as free margin) So it's never just a USD 250 deposit. That's just to attract you and hook you onto the system.
3. The account manager does not try and understand the needs and risk appetite of the client. They directly start with some Forex Trading initially.
4. Once you start seeing some small profits, they keep on asking you to open new Forex Trades but the catch here is they don't tell you clearly till what time you have to do that. It so happens that you open a trade which was previously closed and then it stays open overnight and this is where the SWAPS charges are levied (which are quite a lot incase you don't have a GOLD account). The trades don't close and the SWAPS keep on increasing. You are not told about this in the initial discussion. This is where you start losing lot of money as the trades even if they close in Profit the SWAPS charges are so much that they negate the trade completely.
5. Then there's Hedging. Few days into the trades and the account manager tells you to start hedging to mitigate the risk but this is a sinkhole. Not every trade closes and your floating P/L keeps increasing along with SWAPS charges.
6. During all this time, there are multiple reports all around the world once in a month (they don't tell you when the meetings/reports are due) based on which the market becomes quite volatile and because of this your principle amount and trades are impacted and your account manager aggressively starts telling you to deposit more money. It so happens that the amount is not just any amount. It's almost USD 4000-5000 everytime.
7. The Account managers even asks you to log into you back account, share your screen and they see all the account balance and other details. (WHO DOES THAT?) They see all your Credit Card limits and everything and literally scare you by saying that we will lose all money if we don't deposit a certain amount. They also assure/promise you that we will definitely make more money with this and recover the lost money. This is absolutely not true. You again are pulled into the same spiral again where more forex trades are opened and they don't close, you start hedging and SWAPS keep increasing.
8. Another drawback is you cannot call them whenever you wish you. You can only send them an email and wait for the to call or reply to the email. You are completely at their mercy.

Please don't fall prey to what the account manager says. Join only if you have prior knowledge of trading otherwise you will lose your hard-earned money within no time. Trust me. I have lost approx. 23k USD completely. I am almost broke and finding it very difficult to make ends meet. I am in lot of debt now.

Please, please be vigilant. These guys are there to rip you off your money by enticing you and giving false assurances and promises.

It all begins the way the fund / account managers start with any of the clients. Initially they start with decent small profits and as soon as the client starts trusting the account manager things start going downwards in a spiral and the client cannot get out of it.

Account Managers are really aggressive in getting the client to deposit lot of hard earned money. They should initially understand the risk appetite of the clients, talk to them about what exactly the clients are looking for by trading with XPro Markets.

I lost lot of my savings in a span of 1 month and now I'm into lot of debt with many people, Credit Card company as well as banks as I had borrowed lot of money to stabilize my account. All this was due to aggressive trading advises provided by my account manager. I lost lot of money because of that. He keeps promising that the deal is good and profitable but nothing seems to be working out.

He helped me get a Gold Account but that is not helping me at all. He promised that he will create a good portfolio for me and help me recover my lost money with short and profitable trades but it seems that my account is not that much of a priority to him. And he keeps forgetting that I cannot afford to lose any money.

His data analysis seems to be completely wrong and not helping me at all. I am losing money in swaps everyday. There are trades in my account which are open since October 2022 and have gone into lot of negative floating loss with Swaps charges increasing day-by-day.

I have not made any good profit till date on this platform. I keep losing money.

I just wanted to start with 1000 USD and grow slowly from there with short, intra-day profitable trades. But the account manager was so aggressive in investing that I have shelled out approx. USD 22208 till date by borrowing lot of money and not made any good profit. Infact the account manager opened such trades that I had to put in more money to save my account.

I am having sleepless nights for the past few weeks. I am in lot of debt. I have lost hard earned money which I had kept aside for various other purposes. I even had to mortgage my wife's jewellery to get more money. I don't know what to do now.

My Account # is 70122231.