Is SuperForex a scam or legit broker?

No, it is not safe to trade with SuperForex. SuperForex is owned by SuperForex Ltd. which is an offshore company registered in Belize.

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 and more. We have a detailed article explaining the risk of trading with brokers from Belize.

About SuperForex
🗺️ Registered inBelize
🗺️ Type of LicenseOffshore License
🛡️ Is SuperForex safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

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.

  • SuperForex Review

The services of the company offered to the retail and institutional traders, while there is no strictest application to the rules of business conduct, comparing to the reputable Forex authorities alike FCA (UK) and ASIC (Australia). There are currently many brokers who establish their office in Belize since the company gains access to a worldwide client while stating their official regulation. But once again, in fact, IFSC is a rather self-regulatory authority that did not implement sharp follow of standards.

Generally, we do not advise to open an account and engage in trading with the offshore brokers, since it may incur significant risks even if the offering sounds very attractive. As the company not overseen regularly by the licensor or the Forex industry professional authority, there are many questions in regards to how the company manages traders and overall operation.

In SuperForex case it has also been confirmed by some number of negative responds and reviews from their clients, while the traders faced issues with the money withdrawal or some inconvenient processes during the trading sessions or position openings. 

Conclusion

We advise all investors and traders to avoid SuperForex and other brokers from Belize. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as City Index and XM.com.

Daan K From Netherlands | | Friday, November 6, 2020

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.

12 responses to “SuperForex”

  1. 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 .

  2. 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

  3. 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.

  4. 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

  5. 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

  6. 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

  7. 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…

  8. 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

  9. 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.

  10. 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.

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