What is XProMarkets?
XProMarkets is a forex and CFD broker based in South Africa, listed with a foundation year of 2020. It offers leverage up to 1:400, spreads from 0.0 pips and a minimum deposit of $50. Clients trade on MetaTrader4, cTrader, MT4 WebTerminal, MT4 Android, MT4 iPhone Trader, MT4 iPad Trader, MT4 MultiTerminal, WebTrader and on mobile.
Company Information: This website (xpromarkets.com) is operated by UKUCHUMA FINANCIAL SERVICES (PTY) LTD a South Africa Investment Firm, authorized and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP License Number 32535. UKUCHUMA FINANCIAL SERVICES (PTY) LTD registration number is 2020 / 735868 / 07 with a registered address at Office 1-14 1ST Floor Workshop17, 138 West Street, Sandown Sandton Gauteng 2196, South Africa.
Ukuchuma Financial Services (PTY) LTD is acting as a juristic rep under Elland Road Capital PTY LTD with FSP No 52127.
UKUCHUMA FINANCIAL SERVICES (PTY) LTD and IGM Forex Ltd belong to the same group of Companies. IGM Forex Ltd, with business address at 1 Agias Zonis, No. 504, Block B, 5th Floor, Nikolaou Pentadromos Center Building, 3026 Limassol,? is regulated by the Cyprus Securities and Exchange Commission with CIF license number as: 309/16.
Risk warning: Contracts for Difference (‘CFDs’) are a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which are a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own or have any rights to the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary.
Regional Restrictions: UKUCHUMA FINANCIAL SERVICES (PTY) LTD does not offer services within the USA, Canada, Australia, Israel and certain EU member states. The Company reserves the right, at its discretion, to decline registration from other regions, such as FATF high-risk jurisdictions or countries that are subject to sanctions.
Nationality Restrictions: UKUCHUMA FINANCIAL SERVICES (PTY) LTD does not offer services to residents of Turkey.
Marketing Communication: UKUCHUMA FINANCIAL SERVICES (PTY) LTD does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. UKUCHUMA FINANCIAL SERVICES (PTY) LTD is not a
Is XProMarkets safe and regulated?
XProMarkets is regulated by Regulated by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP License Number 32535. This is an offshore regulator. It sets capital and reporting rules, but its investor protection is lighter than tier-1 regulators such as the FCA (UK), CySEC (Cyprus) or ASIC (Australia), and there is usually no investor compensation scheme.
Safety checklist before you deposit
- Search licence 32535 on the official FSCA ZA register and confirm the company name matches.
- Check that client funds are held in segregated bank accounts.
- Make a small first deposit and test a withdrawal before you add more.
- Confirm negative balance protection applies to your account type.
XProMarkets account types
The broker offers several account options so beginners and experienced traders can choose the right fit. Accounts open from a $50 minimum deposit.
| Account | Best for | Available |
|---|---|---|
| Mini account | Beginners trading small lot sizes | Yes |
| VIP account | High-volume traders wanting raw spreads | Yes |
| Islamic (swap-free) | Traders who need no overnight interest | Yes |
| Managed account | Investors who prefer a money manager | Yes |
Trading platform and conditions
XProMarkets provides MetaTrader4, cTrader, MT4 WebTerminal, MT4 Android, MT4 iPhone Trader, MT4 iPad Trader, MT4 MultiTerminal, WebTrader, so you can trade from any browser without installing software. Mobile trading is supported as well.
- Scalping and hedging are permitted, which suits short-term and EA-style strategies.
- News trading is allowed during high-impact economic releases.
- Spreads from 0.0 pips are available on raw pricing, with a commission per lot.
- Leverage up to 1:400 gives large position sizes from a small deposit, which also raises the risk of fast losses.
Deposits and withdrawals
XProMarkets supports 11 funding methods, including Bank wire, Debit/Credit card, Advcash, Perfect Money, Binance, Bitcoin and more. Accounts can be held in 4 base currencies (USD, EUR, GBP, AUD), which helps you avoid conversion fees.
XProMarkets bonus: <p>100% Forex Deposit Bonus</p>
How the promotion works
The current XProMarkets promotion is <p>100% Forex Deposit Bonus</p>. Entry rules, dates and eligible countries are set by the broker. Read the full terms on the XProMarkets website before you trade for it.
Check the promotionLooking for free trading credit instead? Compare the latest forex no deposit bonus offers and forex deposit bonuses.
XProMarkets pros and cons
Pros
- Raw spreads from 0.0 pips
- Scalping and hedging allowed
- News trading allowed
- Islamic, VIP, Mini and managed accounts
- 11 deposit methods including crypto
Cons
- Only offshore regulation (FSCA ZA)
- No investor compensation scheme
How to open a XProMarkets account
- RegisterVisit the XProMarkets website and sign up with your name, email and phone number.
- Verify your identityUpload a passport or national ID and a recent proof of address (KYC).
- Choose an accountPick Islamic, VIP, Mini, managed or a standard account, and your base currency.
- Fund the accountDeposit at least $50 with Bank wire, Debit/Credit card, Advcash or another method.
- Start tradingLog in to MetaTrader4, cTrader, MT4 WebTerminal, MT4 Android, MT4 iPhone Trader, MT4 iPad Trader, MT4 MultiTerminal, WebTrader or the mobile app and set your risk per trade.
Is XProMarkets a good broker? Our verdict
XProMarkets suits active traders who want raw spreads, freedom to scalp or trade the news, plus a wide choice of payment methods. The main trade-off is regulation: an offshore licence gives less protection than a tier-1 regulator. Start small, test a withdrawal, and only trade money you can afford to lose.