SuperForex Review
Reason to avoid: Offshore license
Listed Date: September 20, 2018
Top 3 Forex Brokers
Beware SuperForex is a Non-Regulated broker. It is NOT SAFE to trade.
- Our Review
- SuperForex User Reviews
- SuperForex News
Is SuperForex Scam or Legit broker?
SuperForex is owned by SuperForex Ltd. which is an offshore company registered in Belize, thus it is not safe to trade with SuperForex.
SuperForex is incorporated and licensed by an IFSC Forex broker with its registered office in Belize. Yet, Belize is a known offshore zone that delivers slight and operational requirement conditions to the financial service providers. Therefore, it became an offshore zone for shady forex brokers such as Trading Epic, BlueMax Capital, etc. You can see in our detailed article why it is risky to trade with brokers from 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 | Ava Trade - licensed by ASIC in Australia |
What is SuperForex?
As claimed on the official website SuperForex grants access to all the major trading platforms in the world, while users may benefit from a brief Forex training course by opening a free demo account and learn the basic steps along with the quite competitive trading conditions.
- The services of the company offered to the retail and institutional traders are good, while there is no strictest application to the rules of business conduct, comparing to the reputable Forex authorities alike FCA (UK) and ASIC (Australia). While IFSC is a rather self-regulatory authority that does not implement sharp follow of standards.
- There are multiple negative responds and reviews from SuperForex clients, as traders faced issues with the money withdrawal or some inconvenient processes during the trading sessions or position openings.
Overall SuperForex Ranking
With our revelations on regulations and safety issues of SuperForex, we do not rank positively SuperForex, based on our Expert Opinion with over 10 Years of experience in Forex Trading.
- SuperForex Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.
| Ranking | SuperForex | FP Markets | XM |
|---|---|---|---|
| Our Ranking | ⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
| Is Broker safe? | No | Yes | Yes |
| Advantages | None | Trading Instruments | Trading Environment |
SuperForex Alternative Brokers
As our research revealed safety issues with SuperForex, here we offer much better Alternatives to SuperForex with good regulations and great trading conditions. We select Good Brokers and trustworthy options for your comparison below:
- XM – Best Broker for Low Minimum Deposit
- Interactive Brokers – Good for Real Stock Trading
- Plus500 – Good for Futures Trading
SuperForex Deposits and Withdrawals
SuperForex is constantly expanding its list of available payment methods, to make it available for all clients. SuperForex clients can open accounts in USD, EUR, and GBP, and use those three currencies for deposits and withdrawals. The broker offers various deposit and withdrawal options, including Bank Transfer, Credit/Debit Card and e-wallets such as Skrill, Neteller, AstroPay.
- On the standard account the minimum deposit amount is $1.
- SuperForex does not charge any additional fees on transactions.
SuperForex Trading Accounts
New traders usually start from Standard accounts. It supports many base currencies (including JPY, USD, EUR, GBP, and more) and has fixed spreads, with $1 minimum deposit amount and leverage of up to 1:1000. All SuperForex bonuses are available with Standard account type. SuperForex also offers STP and ECN accounts. These types are more suitable for more experienced traders.
- The Profi-STP is designed specifically for experienced traders who prefer higher trading volumes. The lot size is higher – 100 000 USD, with the leverage up to 1:3000.
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ECN accounts are faster than Standard and STP accounts, because they connect to the Electronic Communications Network directly, these accounts provide more accurate quotes on all trading instruments and a faster order execution speed. The lot size is 100 000 USD.
SuperForex Review Conclusion
Generally, we do not advise to open an account and engage in trading with SuperForex, as it is an offshore broker, and it might incur significant risks even if the offering sounds attractive. Traders are recommended to trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FBS and Eightcap.
- Overall ranking and experience for SuperForex is Negative
At first they make it look like a good oppertunity to go for the bonus deals. But when you’ve excepted the bonus deals you are limited to some very bad and shady rules: 1: Stoploss can’t be placed thight to the positions. 2: Orders sometimes can’t be executed when the market doesn’t move, this makes your position stuck. 3: When accepting the bonus deals you can’t withdraw your profit. You can only withdraw twice the amount you have deposited. AND if you have deposited lets say 100 dollars you can only withdraw 100 dollars of profit whenever you traded 100 lots aswell. Because of this rule it is practically impossible to withdraw profits. 4: Take profits cant be placed close to the current price 5: They keep falling back to their saying: “It’s in the agreement you agree with when accepting the bonus”. But this list with conditions is pretty big and a lot to read when you want to create the account. Tiny letters politics I call this…. 6: Spreads are awfull, you are not able to make quick trades. I might had more bad things to say about superforex, but I can’t remember them right now. Ill update them below if I rememberd some. #######!I JUST WANT TO WARN YOU!####### The spreads are awfull, you cant withdraw profits like it should, stoplosses and take profits are worthless because of the minimum distance with the current price and the orders cant be executed for like 3-5minutes. I hope everyone will listen to this awfull experiance with Superforex. Don’t make the same mistakes I made.
No news available.
SUPERSCAMMEX ARE SCAMMERS FROM KENIA. DON’T TRUST THEM YOUR MONEY!!!I deposited €1000 beginning of October 2022 at my new account with them. I found out that they weren’t a broker located in Belize as they stated but that they are actually from Kenia. Also the scam that they donated me an extra €3000 onto my deposit gave me a bad feeling . I therefore wanted to re-transfer my money back to my Belgian account. At first it seemed to work and that my transaction would have been executed properly but a few hours later they did send an email with the lame excuse that my bank was blocking my money because they considered it as a suspicious transaction. No need to tell that this was a bif fat lie. Since then they keep replying with all kind of excuses why the transaction didn’t went through and they were giving me fake support addresses . And eventually they blocked me.
Are there any legitimate and honest African companies at all btw?
For me it’s was a daylight robbery…I don’t understand but my account is clear
15 dec i made positions after analysing fomc meeting fundermental positions they closed my account and balance of 76 usd they stolen from my account one and only broker i ever seen news and fundermental data positions is seems like fraudulent activity..i was opened positions after technical and fundermental data analysis because both detections are same i was lost my 4 positions profits because they told while news release open positions fraudulent activity.
if you’re technical analysis trader or fundermental analysis trader please be aware don’t Open positions while news release your all of fund they will stolen from you because it’s fraudulent activity 😅 I’m really unhappy
Hello dear client
Your withdrawal has been canceled and turned back to your trading account. At the same time, we have to cancel trading results of All orders processed from November 28 due to violation of User’s agreement clause 5.16.
Total amount for cancellation is $76.25
Please change your trading strategy and trade according to the terms and conditions of the User’s Agreement. Everything was done according to standards of the international legal agreement and under IFSC regulation.
Please note: payment for the deals processing (commissions) can take some part of deposit and can’t be turned back given that service of access to the market has been provided in full by liquidity providers.
_____________________________________
5.16 – The Company reserves the right to monitor trading strategies used by clients in the trading and reconsider trading results in case of detection of fraudulent trading strategies, such as trading on spikes during extremely high volatility, a “Bonus scam” strategies, strategies using technical imperfections of the platform, including possible delays in the rates, strategies based on using any hacking tools that could disrupt workability of the platform and stability of the Company’s financial system.
Superforex is a scam
evidence here superforexscam
THIS WAS THE EMAIL I FORWARDED TO EFCC CBN and SEC on SUPERFOREX THIEVES:
To: ,
Cc: , , ,
I have account I.D 150800 with superforex.
I deposited $17 dollars into the superforex account I.D 150800 belonging to me and was given welcome bonus of $6.80 to trade. Total amount available to trade $23.80..
I traded from Tuesday 08/03/2022- Thursday 17/3/2022) and made a profit of $69.76. Now the total available balance i have in my account was $93.56
On friday 18/3/2022 i requested for withdrawal of $86.77. This withdrawal was pended until today 22/3/2022.
In my Account I.D 150800 i noticed that $76.54 was deducted from my available balance today leaving $17.02 in my account.
Immediately i contacted the superforex customer support, there i was told i violated there law of trading strategy using robot. I was shocked and angry. I also contacted one of there local agent ( in the person of AKABOGU CHUKWUEBUKA NICHOLAS) via whatsapp the person to whom my account I.D 150800 was funded. The local agent told me there was a cancellation on my account that i violated trading strategy using robot to trade. Clearly it shows that both the Local agent of superforex forex and superforex itself are scam organisation.
Because in this period of high unemployment rate in Nigeria, a youngman who struggled to eke out a living by creating job for himself through trading forex now met with a scam organization called SUPERFOREX.
I NEED MY MONEY BACK. AND I DONT KNOW WHAT ROBOT YOU ARE TALKING ABOUT. AFTER UNDERGOING MORE THAN 4 YEARS PERSONAL TRAINING AND STUDY IN FOREX EDUCATION. I HAVE TRADED WITH ANOTHER FOREX COMPANY CALLED HOTFOREX, I DIDNT HAVE ANY ISSUE ON DEPOSIT AND WITHDRAWAL. I DECIDED TO TRY OUT SUPERFOREX BECAUSE I USE TO RECEIVE THERE ADVERT EMAIL, NOW THIS SCAM. IT WAS EASY TO DEPOSIT BUT WITHDRAWAL AM NOW HEARING THE FRAUDULENT TALES
I NEED TOTAL REFUND OF MY HARD EARNED MONEY OF $76.54
EFCC TAKE NOTE.
SO PLEASE DONG TRADE WITH THEM AND THEY NEED TO BE BLACKLISTED THIS MINUTE
Bunch of thieves.
Easy deposit bonus is just a trap to defraud us. I deposited $26 got $750 bonus made profits if $307 but my account got stopped out, when i enquire they say some deals where above 50 percent margin call but i still had profits.sad they took my profits and deposit.
A VERY USELESS COMPANY, PLEASE TRADERS BEWARE, THEY WERE VERY TRICKY. AM TRYING TO WITHDRAW MY $55 BUT UP TILL NOW THEY KEEP CANCELLING MY WITHDRAWAL. THEY ARE THIEF
I opened an account through an affiliate platform that promotes cashack from the spread on 14.07.2021, choosing SuperForex and thanks to the HOTBONUS 202 offer. I deposited 250 usd and I applied for this bonus being very happy to be able to trade with a higher margin. I admit that I did not understand very well Article 9 of the 202.0% HOT Bonus Agreement, believing that all the profit over the deposit + hot bonus can be withdrawn. But I was sorely mistaken because in the terms and conditions it is an article that says that Martingale cannot be used and usually no one reads these terms as I did but what bothered me is that they let me trade four on Monday and when I wanted to withdraw part of the profit, they also confiscated my initial deposit. Later I checked the terms and conditions of other brokers and I did not find this perverse provision that is put precisely to confiscate your money and even casinos do not have this restriction. Following the discussion on customer support chat I was told the following – In case of a decision to impose such a restriction, the company will notify the client by the e-mail specified upon registration at least one day before the appropriate restrictions for the client account is implemented- and I wonder why they let me trade for four months when they tried to withdraw some of the profit and confiscated all my money. So in conclusion it is not an honest broker and you have to be careful to read the terms and conditions so as not to fall into the trap of brokers like SuperForex.
Superforex are petty thieves and scamers of by the highest order. I made a withdraw 15 days ago, they debited my trading account but I have never received my money todate. No one from their sides explains anything, they keep taking you round in circles. Avoid them like plague.
One of their scammers tried to hook me by chatting and promoting the website during a Words With Friends online game app. Beware. Total scam.
What the hell are you talking in comments guys. Fake comments 100%. No account numbers, no support answers, I mean this looks like a joke.
It means you are part of the scam broker.
Good day, Please i am begging you people do not use this broker, they are dishonest, they will hunt your account and spike your trades with stop outs and then say that it the liquidity provider,I started trading with them Jan. 2021, first they have no customer service, its only for a couple hours of the day, they misinform you that your withdrawal will be process in 3hours, but it takes 5days to get back your profit. there is no working telephone number to call, there is only response by email, they will never call you if there is a issue. My account was stop hunted by there system and they steal half of the money in my account, when i complained my it was reject with out even any evidence to prove me wrong, in a nutshell this is by far the worse broker ever DO NOT TRADE WITH THIS BROKER, THEY WILL STEAL YOUR MONEY
yeah. this broker os a scammer. i made a deposit and gained a profit in trading, but when i make a withdrawals, this broker notifies me that the withdrawal is successful, but no money was deposited to me… just a waste of time…
This broker is a scam,I made withdrawal like 3weeks ago and still today I haven’t gotten it and they keep telling me nonsense like I should email Nova2pay with my reference code because on their side the withdrawal has been approved and settled but never did I receive the money
So don’t trade with superforex,they are a scam and will run away with your money
SuperForex is a fraud.They just defrauded me of my hard-earned money to the tune of $1500.
This happened in October, 2020.
When you deposit huge amount of money with them to trade, they will squander the whole of your money. Traders, I have evidence of this, don’t trade with them.
Wow, that’s crazy cause I’m currently ching back and forth with them to try and get my refund back. They took my $300USD btc and they’re trying to push me for $1200.smh! I hope they can rot in hell
Yes they did the same to me Today…I have already sent email to CBN EFCC SEC reporting them. They defrauded me wipe out my profit and gave me back only my initial deposit which was not even complete.THEY SHOULD BE BANNED FROM NIGERIA
Superforex isn’t the good broker at all I have made more profit when I want to withdraw it I doesn’t progress it and I now struggling to login in matetrade4
Superforex is not a good broker at all, thier spread are way to big an your profits move slow as hell, even when you’re using a 1:200 leverage.
Super forex has amazing opportunities to trade for free they have a 50$ free bonus and requires you to have 50$ for withdrawal try it you wont die
oh hell no i just got robbed by em right now, cleared my account for no reason
They also robbed me and wiped my account right now. Please do not trade with Superforex. They are thiefs
Thank you for the review on Super Forex. It is informative and stopped me from signing up with them. I have found that XM is indeed an extremely trusted broker and my experience with them have been only good. Their training is excellent and ongoing. They are always researching ways to improve their traders knowledge. Their No Deposit Bonus, is a genuine one. They also have competitions for traders to enable them to win good money. I would recommend them to anyone looking to sign up with a genuine broker .
But a purely market marker
When I request for their (XM) no deposit bonus they said my country (Nigeria) is not allowed for the bonus. What a joke after they gave me an option to select the deposit as a non US resident.
I really appreciate all this review and this have made me to take my decision about the company that the superforex is a pure scam company and its into the business of defrauding people