aaaxmpro is a CFDs broker with its official domain registered on July 23, 2024. The broker primarily targets retail and institutional clients, providing trading services for financial derivatives such as forex, precious metals, crude oil, indices, and cryptocurrencies. It does not offer services in jurisdictions where providing such services may violate local laws or regulations.
Corporate Registration Info and Regulatory Status
According to information on the aaaxmpro official website, the platform was established in 2009 and uses "XM Pro" as its trading name. It claims to be licensed by several regulatory bodies, including the Australian Securities and Investments Commission (ASIC) (Trading Point of Financial Instruments Pty Limited), the Cyprus Securities and Exchange Commission (CySEC) (Trading Point of Financial Instruments Ltd), the Belize Financial Services Commission (FSC) (XM Global Limited), and DFSA (Trading Point MENA Limited), complying with strict regulatory standards.
After verification, it was found that the company, regulatory information, brand logos, and trading name mentioned on the aaaxmpro website are all stolen and imitated from the well-known broker XM. Further investigation revealed that the regulation of XM Global Limited by the Belize Financial Services Commission (FSC) has currently been suspended.
It is noteworthy that aaaxmpro's web design uses the same template as some brokers accused of fraud, such as XM Defi, AUS GLOBAL Textdiy, moneynetint.pro, Lenmax, ATF Trade Limited, and CYOWV. This phenomenon further indicates that aaaxmpro is actually a fraudulent broker website without any real company or effective regulation.
Trading Instruments
aaaxmpro offers a variety of financial derivative trading services, including forex, precious metals, crude oil, indices, and cryptocurrencies.
- Forex: Offers trading of dozens of major currency pairs, including EUR/USD, USD/CAD, GBP/USD, USD/JPY, etc.
- Precious Metals: Supports spot trading of various precious metals, such as gold (XAUUSD) and silver (XAGUSD).
- Crude Oil: Provides trading services for US crude oil (UsOIL).
- Indices: Tradable indices include the Nikkei 225 (N225), German Index (GER30), and S&P 500 Index (US500).
- Cryptocurrencies: Supports multiple major cryptocurrency pairs, including Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD), etc.
Account Opening Process
The steps to open an account with aaaxmpro are as follows:
- Visit the official website and click the "Register" button to go to the registration page.
- Enter your email and set a password, then receive a verification code via email.
- Input the verification code and submit the application form. Once the account is successfully registered, complete KYC verification to deposit and trade.
Trading Accounts
The aaaxmpro website only discloses basic information such as spreads, trading leverage, and contract sizes. However, it does not provide details about account types, trading commissions, minimum/maximum trading volumes, maximum position/order sizes, margin call/stop-out levels, or minimum price precision.
- Base Currency: USD
- Spread: Floating spread, starting from 1 pip
- Trading Leverage: 1:100 - 1:500
- Margin Call Level/Stop-out Level: 100%/50%
- Contract Size: 1 lot = 100,000 units
Trading Platform
aaaxmpro claims to provide the XM Pro self-developed trading platform, supporting both PC and mobile devices. However, when users click the PC download link on the broker’s website, it redirects to the XM Pro web-based trading page without offering an actual PC installation program.
Moreover, when clicking on the mobile download link, users can download Vlockedxa from the App Store and EVJORERJG from Google Play. In fact, these two applications are used by multiple known fraudulent brokers, casting doubt on the credibility of the XM Pro platform.
Deposits and Withdrawals
aaaxmpro does not clearly disclose its supported deposit and withdrawal methods, associated fees, or minimum deposit and withdrawal amounts on its website.
Conclusion
Traderknows reminds investors that aaaxmpro is a scam website that fraudulently uses the information of the well-known broker XM to mislead and deceive investors. The contact information provided by the website is very limited, with only an email available for communication. Investors are advised to choose brokers with transparent information, strict regulation, and a good reputation to avoid unnecessary financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
