When it comes to online trading platforms, it’s important to conduct thorough research before committing your hard-earned money. One such platform, XProMarkets, has attracted attention, but for the wrong reasons.
Lots of users have shared their experiences on Trustpilot, and the feedback paints a disturbing picture. This XproMarkets review article sheds light on the real user reviews posted on Trustpilot to help you know more about this platform.
XProMarkets Review: Is XProMarkets legit or a Scam?
XProMarkets is an online trading platform that offers various financial instruments like forex, commodities, indices, and cryptocurrencies. They claim to provide advanced tools, professional support, and opportunities to maximize your returns.
However, based on several Trustpilot reviews, the reality for many users seems different. Here are the allegations that we found against XProMarkets:
Fraud Allegations
Many users accuse XproMarkets of being a fraudulent platform designed to deceive investors out of their hard-earned money. Several reviews indicate that after depositing significant sums, users are pressured to invest more money under the pretense that their profits will increase.
For instance, a review dated February 4, 2024, from a user with account number 70172631, described how XproMarkets manipulated them into continually depositing more funds.
After investing $5,300, the user claims they were pressured by the account manager to continue adding to their account, only to watch their balance become zero by February 1, 2024.
This predatory strategy is commonly highlighted by other reviewers, suggesting a pattern of exploitation by the platform.
In addition, some users reported that XproMarkets retains sensitive information, such as debit and credit card details, even after customers leave the platform. These details were allegedly used for unauthorized foreign transactions.
One user cited in a July 1, 2024 review shared their experience of fraudulent transactions in the USA using their card information after trading with XproMarkets.
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Withdrawal Issues
One of the most frequent complaints is the difficulty in withdrawing funds from XproMarkets. Several users expressed frustration with the withdrawal process, which they say is deliberately delayed or never completed.
A review dated December 19, 2023, detailed the user’s battle to withdraw funds. Despite initiating a withdrawal nine days earlier, their request remained under “pending review” status with no progress. After multiple failed attempts to contact customer service, the user couldn’t retrieve their funds.
The reviewer threatened to file a complaint with the International Consumer Protection and Enforcement Network (ICPEN) in a last-ditch effort to recover their money.
In another case, a user explained how they had initiated a withdrawal on July 21, 2023, needing the money urgently, but despite providing the correct bank details, XproMarkets claimed the details were incorrect, causing further delays.
While they eventually received their money after writing a negative review, this example highlights how customer dissatisfaction is often ignored until public complaints arise.
Aggressive Marketing and High Fees
XproMarkets is also criticized for its aggressive marketing strategies. Many users claim that after registering and depositing funds, they were bombarded with calls from account managers urging them to deposit more money, often under false promises of high returns.
One user, whose review appeared on June 6, 2024, mentioned that despite expressing discomfort with the platform’s high-risk nature and steep swap fees, which sometimes reached $20,000 to $30,000, they were still pressured into investing more.
The user lost over $800,000, and their experience serves as a grave warning to others. This combination of high fees and relentless sales tactics appears to trap investors in a cycle of increasing losses.
Another disturbing review from June 7, 2024, indicates that XproMarkets has begun targeting its past users in another scam. According to the user, after leaving XproMarkets, they were contacted by individuals pretending to be from a legal authority, claiming they were owed a refund due to the company’s bankruptcy.
Unreliable Customer Support
The lack of responsive customer support is another complaint that XproMarkets users lodged. Many reviews express frustration at the inability to contact anyone from the company for assistance, whether for withdrawal issues or general account concerns.
A review from August 22, 2024, shared a horrifying experience where the user discovered that their debit and credit card information, used for deposits on XproMarkets, was later exploited for international transactions.
Attempts to resolve this with XproMarkets’ support went unanswered. Other reviewers also reported the live chat option disappearing from their accounts, preventing communication.
The fact that some users only saw their issues addressed after publicly complaining, reflects a serious breakdown in customer support. This inconsistency demonstrates a blatant disregard for customer care and transparency.
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False Promises and Misleading Practices
Many users mention that XproMarkets falsely positions itself as a reputable trading platform, luring people in with fabricated testimonials and supposed recommendations from public figures like Martin Lewis.
After realizing the misleading nature of these promotions, investors quickly withdrew their funds but continued to face relentless, aggressive calls from XproMarkets agents.
Furthermore, users claim that account managers use deceptive practices to convince investors to take out loans or max out their credit cards, promising high returns that never materialize.
Reviews suggest that once the deposits are made, the platform quickly drains the funds through dubious fees or failed trades, often resulting in accounts being wiped out in days.
Legal Actions and Fraud Reports
Several reviews indicate that frustrated investors want to take legal action against XProMarkets.
One user, who submitted a review on December 19, 2023, mentioned they were preparing to file a complaint with ICPEN, an international body that protects consumers from cross-border fraud.
Other users have voiced similar intentions, warning others about the scam and encouraging victims to report their cases to authorities. These legal steps might offer hope to those seeking justice, though the path to recovery remains uncertain.
Conclusion
As shown in this XproMarkets review, the platform has built a reputation that cannot be trusted, with countless users sharing their harrowing stories of financial loss, unfulfilled withdrawal requests, and aggressive marketing strategies
Whether it’s investors’ manipulation, unauthorized use of sensitive financial information, or outright refusal to return funds, the platform raises red flags for anyone considering online trading.
If you are considering investing with XproMarkets, heed the warnings shared by former users. Their experiences point to a platform fraught with deception and malpractice. Before committing your money, thoroughly research alternative, reputable platforms, and never invest more than you are prepared to lose.
