SuperForex Broker Reviews and Full Information

Is SuperForex a scam or legit broker?

Trading with SuperForex is not a risk-free endeavor. SuperForex is owned by SuperForex Ltd., an offshore corporation based in Belize that operates as a forex broker.

SuperForex is a forex broker formed and licensed by the International Financial Services Commission (IFSC), having its registered office in Belize. Belize, on the other hand, is a well-known offshore zone that provides financial service providers with minimal and operationally demanding operating circumstances. In order to avoid detection, dodgy forex brokers such as Trading Epic, BlueMax Capital, and others set up shop in the country. We have a comprehensive post describing the risks associated with dealing with brokers based in Belize.

About SuperForex

According to the company's official website, SuperForex provides access to all of the world's major trading platforms, while users can benefit from a brief Forex training course by opening a free demo account and learning the fundamentals of the market while also taking advantage of the highly competitive trading conditions.

When compared to the services provided by respected Forex authorities such as the FCA (UK) and ASIC, the company's services are available to both retail and institutional traders. However, there is no severe implementation of the laws of corporate conduct (Australia). There are already a large number of brokers that have chosen Belize as their base of operations since the company receives access to a global clientele while maintaining their official regulatory status. However, once again, the International Federation of Standards (IFSC) is a self-regulatory organization that has not strictly followed standards.

In general, we do not recommend opening an account with an offshore broker and engaging in trading with them because doing so may expose you to considerable risks, even if the offer appears to be very tempting. Due to the fact that the firm is not constantly monitored by the licensor or the professional body for the Forex market, there are numerous doubts about how the company handles traders and how the company operates as a whole.

In the case of SuperForex, this has also been confirmed by a large number of unfavorable responses and evaluations from their clients, who have reported concerns with money withdrawals as well as inconvenient processes during trading sessions or position openings during the course of their business.

Conclusion

We strongly urge all investors and traders to steer clear of SuperForex and other Belize-based brokers. Traders should only trade with brokers who are well-regulated, such as brokers in the United Kingdom or brokers in Australia, as well as with reputable brokers such as FBS and Eightcap.