SuperForex

SuperForex is a major international Forex broker specializing in providing trading and investment services in financial markets. The company entered the Forex market in 2013 and has been developing dynamically since then.

Over the years, it has mastered many financial tools. With its help, it can earn individual and corporate customers. SuperForex’s team of professionals provides services in Forex trading and other markets to residents of 150 countries globally and strives to make the foreign exchange market closer for each trader. But how reliable is the company? Is SuperForex a scam or an honest broker? Answers to these questions you will find in our review bellow.

SuperForex Trading Conditions

SuperForex, working with financial markets, pays much attention to innovative approaches to trading, and is ready to offer the customer only high-quality service. Becoming a broker’s customer, an investor can choose an account to work with MLP, STP, and ECN. Each of them is supported by the documentation, where the terms of the account usage, rights, and obligations of the investor are detailed. To open an account on the broker’s website superforex.com, you need:

• to set up an account;
• to familiarize yourself with the peculiarities of the accounts.

When entered into the international market, the broker has «grown» a huge arsenal of tools that are available to every trader:

• convenient conditions for depositing and withdrawing funds;
• attractive spreads, which will be appreciated by experienced market players;
• wide choice of trading tools;
• high speed of order execution (does not exceed 0.04 s);
• safety of funds in case of risk of losses;
• a ForexCopy system to duplicate successful transactions;
• training programs;
• a lot of quality analytics;
• prompt response to technical support on weekdays.

Compared to similar offers in the market, SuperForex stands out favorably. It is also attractive due to the absence of cloud deposits and annoying calls to customers. Special attention should be paid to various bonuses and contests provided by the platform. Let’s talk about them in detail below.

In addition to the demo account, SuperForex provides customers with the option of training in Forex trading, which will be useful for both pioneers in the Forex market and experienced traders. Here the company’s customers participate in seminars, courses, and training videos. There are a lot of analysts, market reviews, and various tools available on the site. For those traders who decide to become partners, there is special training on business development.

SuperForex Platform

According to the broker, customers have access to advanced technical equipment. Traders can use such programs:

• MetaTrader 4 is a powerful free platform where you can trade, analyze the market, and use trading robots and advisors. This tool is very popular with players.
• Pattern Graphix is also a useful trading advice program that works in conjunction with MT4. Users can get useful recommendations on transactions and tools.

SuperForex broker quotes

A lot of things happen in the Forex market like in the old saying: «First come, first serve» (full truth about Forex). This requires vigilance to keep up with the constant shakes that the market is going through. A broker provides his customers with only actual quotes, cooperating with reliable liquidity providers for this.

Due to the high speed of order execution (0.04 s), traders can trade in the market and increase their earnings. On the superforex.com website you can study the direct and reverse quotes: in the first case, the U.S. dollar or euro is equal to other currencies, and, in the second one, any currency is equal to the U.S. currency or the European Union currency.

SuperForex liquidity partners are:

• BNP Paribas.
• Natixis.
• Citibank.
• UBS Group AG.

SuperForex Demo Account

To interest newcomers to trading, SuperForex broker offers them a Forex demo account, where they can test their knowledge and strategy. Due to this, the player will:

• appreciate the capabilities of the trading terminal,
• understand the principle of its main functions,
• study the settings of the terminal charts,
• take his first lumps and gain valuable trading experience.

The demo account is in three currencies: dollars, euros, and pounds. Leverage is 1 to 10, and lots from 1 cent to 100 dollars are available. There are no bonuses here and you cannot see the deals of successful traders through ForexCopy.

SuperForex Mobile Application

Following the trends of online trading, the broker provides customers with the opportunity to work in the mobile application of the author’s development. The broker has taken care of his customers and created software, in which you can open accounts, replenish the balance, check trading operations, track quotes, and more from your smartphone. Here you can also read useful thematic articles, take successful traders as an example and keep track of global economic news.

The mobile platform is a resource that allows players to be aware of market fluctuations regardless of the location and time of day. It has a user-friendly interface, requires minimal traffic for work, allows you to perform standard operations easily, making trading comfortable.

SuperForex Bonuses

As for bonuses, there are many of them available on the platform for both motivational and incentive purposes. At the beginning of its development, the company tried to attract the attention of traders (bonuses for Forex brokers). It’s hard to surprise demanding traders, who are not on the first day of Forex, but SuperForex managed to do it too.

On the official website, there is a comparative table of all programs, which can be used to easily assess the merits of a particular offer. Some programs can be combined with others, thereby increasing their profits. One of the best offers can be called «Dynamic Bonus». Although it does not give out +1000% on the account, nevertheless inside the system it is considered real money. That is, in addition to the earned funds, the player can cash and accrue a bonus. The company offers the following bonus programs:

• No deposit,
• Easy Deposit,
• Welcome+,
• Energy,
• Hot,
• Dynamic.

Beginners should take a closer look at high-leverage offers. «Bonus +1000%» will allow you not to risk your money earned and try your hand at Forex trading with minimal investment. For example, you are afraid of losing money and are not ready to invest $100 in the platform at once. When you deposit $10 into your account, you can’t count on effective trading. For this amount you can afford a few trades and they will be unprofitable because everything will go on margin. When you go into minus, there is a lack of margin for drawdown, which leads to a stop-out. Forced or independent completion of the transaction will not bring the desired results, but if you have patience and wait just one day, you can avoid losses. One day will be enough to increase the size of the invested money and from your own 10 dollars you get 100, for which you can trade.

Another interesting offer is the 60% bonus, which will be an ideal solution for active traders.

There are also a lot of contests, in which traders participate.

Deposit and Withdrawal

It will take a few minutes to deposit funds into your balance sheet or withdraw your earnings. SuperForex guarantees prompt transfers of funds with transparent conditions. The list of available payment methods is replenished periodically. For 29 countries it is allowed to top up your account in local currency. You can top up your account through:

• Bank transfer,
• Bank card Visa/MasterCard,
• E-wallets,
• Cryptocurrency.

For each transaction, there is a certain commission and different terms for processing the request. If the broker does not charge a commission for depositing the account regardless of the chosen method of money transfer, there are the following commissions for withdrawal:

• 3% + $35 for bank transactions,
• 1,5% + $7,5 for the dollar account for cards,
• 0,9% for cryptocurrency wallets,
• 0,1-3,9% for e-wallets.

When replenishing the account the money is credited for a few minutes, and when withdrawing – within 1-3 working days.

Complaints against SuperForex

There are ambiguous responses about the broker SuperForex. The company deserves attention, but it is difficult to call it a leader in its industry. Traders consider the following aspects to be positive:

• Minimum deposit amount.
• 6 various bonuses.
• Official license.
• Quality analytics.
• Various trading tools etc.

The disadvantages singled out are:

• Low training quality.
• Profit withdrawal delay etc.

As a result, the traders’ opinions differ: some of them prefer SuperForex, and others are strongly against it.

SuperForex Broker Regulator

By offering services in financial markets, the broker has the necessary license to do that. The International Financial Services Commission (IFSC) oversees the regulation of SuperForex, ensuring that the broker’s services comply with international laws. It is a governmental regulatory body that is responsible for evaluating SuperForex’s policies, services, and assets. In 2016, the IFSC increased its capital requirements, requiring brokers to have a minimum of $500,000 in capital to operate. Each year, the IFSC conducts an assessment of SuperForex to ensure that it’s in compliance with all regulations (check regulator).

Finateqs Corp LTD is a member of the Investor Compensation Fund (ICF). The ICF provides compensation to investors who have experienced losses due to their broker’s insolvency. This fund covers claims up to a maximum of €20,000 per client.

SuperForex User Agreement

Before you start working with the SuperForex broker platform, you should pay attention to the «User Agreement». For each type of account, there is an official document regulating the powers and duties of the broker and trader. Besides, it is necessary to study documents «Complaint investigation policy» and «Order execution policy». Having been acquainted with them, the player will be able to estimate the risk and chances of further earnings in partnership with the broker.

The document «Terms of SuperForex application» says that the broker has the right to change these rules without warning. All the users are responsible for the fact that they have not got acquainted with their updates:

In addition, the broker declines the responsibility for the information provided on the official website superforex.com. All information should be questioned since SuperForex does not guarantee its reliability:

The «Complaint investigation policy» states that any complaint will be investigated within 4 weeks:

The «Order Execution Policy» states that the broker reserves the right to reject orders at the first available price:

Is SuperForex a Scam?

The company sets as a principle of success an innovative approach to trading, working on the quality of service, ready to offer its customers the best trading conditions. There are also training materials here, and an opportunity to work on a demo account. In addition, the broker has a license, and various reviews, including positive ones.

Still, is SuperForex a scam? At this point, we will not draw such a conclusion, but we do recommend investing a small amount of money to trade and test the broker. Of course, there have been negative responses from dissatisfied traders on the platform, but there have also been positive ones. The loud accusations that the company is fraudulent are not supported by reliable facts in most cases. Some traders have made money here for several years and recommend the platform to their friends, while others have difficulty withdrawing even their initial deposit.

Summary

SuperForex Forex broker offers traders access to the foreign exchange market and other opportunities, such as training in trading, the option to copy transactions, and a demo account. By general standards, this company is not bad, as it is aimed at beginner traders. However, before engaging in full-fledged trading on the market, it would be wise to study the project more thoroughly and invest small amounts of money.