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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
| Registered in | Belize |
| Type of License | Offshore License |
| Is SuperForex safe to trade | No |
| Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| Alternative Broker | FP Markets - licensed by ASIC in Australia |
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.
Summary
| Properties | Values |
|---|---|
|
Name
|
SuperForex |
|
Minimum Diposit
|
$ 1 |
|
Leverage
|
1000:1 |
|
Regulation
|
IFSC (Belize),,,,, |
|
Headquarters
|
Belize |
|
Established
|
2013 |
|
Address
|
5 Cork Street, 2 Floor, Belize City, Belize |
|
Platform
|
MT4,MT4 WebTerminal,,,,, |
|
Payment Method
|
Visa,Mastercard,Wire,Skrill,Neteller,Perfect Money,Fasa Pay,Union Pay,Qiwi,Local bank transfer,,,,, |
Overview
| Properties | Values |
|---|---|
|
Spreads
|
0.0 Pips |
|
Min Position size
|
0.01 |
|
Broker Type
|
ECN (electronic communications networks),,,,, |
|
Account Type
|
Mini account,Zero Spread,High Leverage,Standard,,,,, |
|
Brokers by Country
|
US Forex Brokers,,,,, |
|
Techniques
|
Scalping Forex Brokers,Hedging Forex Brokers,Carry Trade Brokers,Spread Betting Brokers,Automated Trading Brokers,Mobile Trading Brokers,Day Trading Brokers,,,,, |
|
Instruments
|
Forex Trading Brokers,Gold Trading Brokers,Crypto Trading Brokers,Stock Trading Broke,Oil Trading Brokers,Commodity Forex Brokers,Metal Trading Brokers,,,,, |
|
Account currency
|
USD,EUR,GBP,,USD,,USD,,USD,,USD, |
|
Tools
|
Economic Calendar,Charting Software,Profit Calculator,,,,, |
|
Website Languages
|
en,,,,, |
|
Support languages
|
en,,,,, |
|
Bonus
|
Yes |
|
Reviews Rating
|
3.5 |
|
Withdrawal Fee
|
Yes |
|
Trading Signals
|
Yes |
|
Free Education
|
Yes |
|
Daily News
|
Yes |
|
Demo account
|
Yes |
|
Swapsr
|
Yes |
|
Pors
|
1. The minimum deposit amount of $1 2. No limit for deposits and withdrawals 3. Does not charge deposit or withdrawal fees 4. No hidden fees |
|
Cors
|
1. None |
|
Display Analysis
|
Yes |
|
Serving country
|
BZ,,,,, |
|
Not Serving country
|
US,,,,, |
|
Contests
|
Yes |
|
Market analysis
|
Yes |
|
Copy Trading Brokers
|
No |
|
Bitcoin Forex Brokers
|
Yes |
|
Social trading
|
Yes |
|
Web trading
|
Yes |
|
Forex pairs
|
Yes |
|
CFDs
|
Yes |
|
Crypto
|
Yes |
|
Hedging
|
Yes |
|
PAMM
|
PAMM,Myfxbook Auto trade,Mql5 signals,,,,, |
|
Mobile Trading
|
Yes |
|
Scalping
|
Yes |
|
Automated Trading
|
Yes |
|
Partnership Programs
|
Yes |
|
Free Phone
|
+65-3-1590282 |
|
Customer Support
|
24/5 |
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