Abstract：FxPro, a United Kingdom-based forex broker, has been facing severe allegations concerning fund withdrawal issues, illegitimate account freezes, trade manipulation, and poor customer support. These allegations have been doing the rounds on several broker review platforms such as WikiFX. In this FXPro review article, we have examined these allegations for you to look at. Keep reading to learn how the broker allegedly worsened traders’ experiences.
FxPro, a United Kingdom-based forex broker, has been facing severe allegations concerning fund withdrawal issues, illegitimate account freezes, trade manipulation, and poor customer support. These allegations have been doing the rounds on several broker review platforms such as WikiFX. In this FXPro review article, we have examined these allegations for you to look at. Keep reading to learn how the broker allegedly worsened traders experiences.
FxPro Operational Overview: Trading Instruments & Account Types
FxPro, as per the information available on its official website, is a well-rounded brokerage house with trading opportunities across forex, crypto CFDs, metals, indices, futures, energy, shares, and ETFs. As far as trading platforms are concerned, the broker enhances the user experience with the proprietary FxPro Mobile App and FxPro WebTrader. Other trading platforms available are MetaTrader 4, MetaTrader 5, cTrader, and TradingView. As a trader, you can choose from three FxPro account types - Standard MT5/5, Raw+ MT4/5 and Elite MT4/5.
Investigating the Top Forex Trading Complaints Against FxPro
The Withdrawal Denial/Rejection Complaint Against FXPro
Several traders have highlighted issues concerning fund withdrawals from FxPro. Some argued that the broker failed to process withdrawals even after weeks of submitting the request, while others complained about its rejection without any reason. Here are some complaints we came across while reviewing FxPro.
Profits Appear on the FxPro Login, But are Traders Able to Withdraw? This Complaint Gives You a Clue
A France-based trader highlighted how FxPro allegedly operates to defraud its clients. According to the complaint, a trader receives profits on the deposits made on the broker‘s platform. However, as you look to withdraw funds, you would receive an email from the broker blaming you for breaching the terms and conditions of the contract, forfeiting all the profits you may have earned. Even worse is that the broker official would not respond to your query, as per the trader’s accusation. Read below the FxPro review the trader shared after facing this consequence.
Allegations of Copy Trading Manipulation Leading to Total Account Losses
A trader from the United Arab Emirates alleged that the FxPro platform operates a fraudulent copy trading system. According to the complaint, the system initially generates small profits to build trust, but when higher amounts (over $1,000) are invested, the trades result in total losses, wiping the account balance to zero. The user claimed to have tested three separate copy trades and experienced the same outcome.
Withdrawals Could Not be Possible Despite Payment of Advisory Fees & Taxes
Traders from Vietnam and Indonesia made a shocking claim, where they admitted having invested massively and completed all the obligations, including the payment of advisory fees and taxes. However, FxPro allegedly did not oblige as both traders expressed frustration over the lack of fund access. The screenshots below perfectly describe the pain of these traders with so much capital at stake.
Another Instance of Withdrawal Denial
An Australia-based trader expressed frustration over the poor withdrawal experience. While the trader appreciated the deposit process, the constant back and forth with the customer support team on withdrawal requests did not go down well with the trader. The trader criticized the withdrawal methods as they did not work the way as advertised. Processing times, as claimed by the trader, were far longer. The trader did manage to recover the stuck funds. However, it was made possible due to the external support, and not the platform. Disappointed by the overall experience, the trader shared this negative FxPro review.
The Deposit Credit Failure Allegation Against FxPro
A trader from Egypt accused FXPro of failing to consider the deposit made to the account. As per the trader‘s statement, the fund was debited from his wallet account. However, the same could not reflect in the FxPro’s wallet account, leading to a lack of approval from the broker. This prompted a negative FxPro review by the trader. Here is what the trader said on this issue.
The Platform Freeze Issue
Highlighting a contradictory movement, a trader came down heavily on FxPro, claiming that the platform freezes in the event of news, preventing fund transfer or deposits. However, symbols move seamlessly on both MT4 and MT5 platforms. Having faced these, the trader called the platform unreliable while reviewing FxPro. Take a look at this complaint screenshot.
FxPro Review by WikiFX: Whether the Broker is Regulated
There is no problem regarding the FxPro regulation part. The broker is licensed by competent financial authorities such as the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CYSEC). However, the rise in complaints, especially of late, is a point of concern for the broker, which received a trust score of 6.95 out of 10.
Traders should conduct a detailed research on broker review platforms, such as WikiFX, before investing.
What's more, the WikiFX App has been updated to significantly improve your trading experience with even more seamless broker ranking, extensive exposure analysis, and much more. Download the app by scanning this QR code today.
