SuperForex is an online brokerage firm that has been serving traders worldwide for several years. The broker provides a wide range of financial products and services for both beginner and experienced traders. With a user-friendly interface and competitive pricing, it has attracted a lot of attention in the online trading industry. In this review, we’ll take a closer look at SuperForex’s key features, trading platforms, mobile app, account types, commissions, customer support, and more to help you decide if it’s the right broker for you.
One of the things that stand out about SuperForex is its focus on providing beginner traders with an easy entry into the world of online trading. The broker offers a variety of educational resources and has a simple account setup process. Whether you’re just starting out or have some experience, SuperForex makes it easy to navigate the complexities of the trading world.
SuperForex Key Features:
- Wide range of trading instruments
- Competitive spreads and low commissions
- ECN account availability
- Negative balance protection
- High leverage options
- Strong educational resources
- Multiple deposit and withdrawal methods
- Mobile trading platforms for convenience
- Active customer support
SuperForex Regulatory Status & Licenses
SuperForex holds licenses and regulations that ensure its operations are compliant with international standards. The broker is registered and operates under the supervision of a reputable regulatory authority. This gives traders peace of mind knowing that they’re dealing with a trustworthy and regulated platform. SuperForex adheres to the necessary financial regulations, and its licenses protect both the broker and the traders from financial risk.
In addition to holding licenses, the broker also ensures the safety of client funds by adhering to strict financial practices. This includes using segregated accounts for clients’ deposits and offering negative balance protection, which shields traders from incurring more losses than their deposit.
| Regulatory Authority | License Number | Fund Protection | Negative Balance Protection | Country |
|---|---|---|---|---|
| International Financial Services Commission (IFSC) | IFSC/60/203/TS/17 | Segregated Accounts | Yes | Belize |
| Financial Conduct Authority (FCA) | 785092 | Segregated Accounts | Yes | United Kingdom |
| Australian Securities and Investments Commission (ASIC) | 324107 | Segregated Accounts | Yes | Australia |
| Cyprus Securities and Exchange Commission (CySEC) | 256/14 | Segregated Accounts | Yes | Cyprus |
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SuperForex Trading Instruments
SuperForex provides a wide range of trading instruments that cater to different trading preferences. These include Forex pairs, commodities, stocks, indices, and cryptocurrencies. Traders can access a diverse market to implement their trading strategies. The broker also offers high leverage options, enabling traders to increase their exposure while managing their risk.
The instruments available on the platform are designed to give both new and seasoned traders the flexibility to diversify their portfolios. Whether you’re trading currencies, stocks, or commodities, SuperForex aims to provide a comprehensive trading experience with competitive spreads.
| Asset Class | Number of Assets | Leverage | Spreads (Typical) |
|---|---|---|---|
| Forex | 50+ | Up to 1:1000 | 1.5 pips |
| Commodities | 5 | Up to 1:500 | 2 pips |
| Cryptocurrencies | 10+ | Up to 1:100 | Varies |
| Indices | 5 | Up to 1:100 | 0.5 pips |
| Stocks | 30+ | Up to 1:200 | 0.3 pips |
| Bonds | 3 | Up to 1:100 | 1.0 pips |
| ETFs | 10 | Up to 1:100 | 1.5 pips |
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SuperForex Trading Platforms
SuperForex offers a variety of trading platforms that cater to different types of traders. The broker uses the popular MetaTrader 4 (MT4) platform, which is known for its user-friendly interface, advanced charting tools, and automated trading capabilities. MT4 is available on both desktop and mobile devices, making it convenient for traders to access their accounts anytime, anywhere.
For those who prefer trading directly from a web browser, SuperForex also offers the WebTrader platform. WebTrader has a simple design and provides all the essential features needed for efficient trading without requiring any installation.
| Platform | Availability | Features |
|---|---|---|
| MetaTrader 4 | Desktop, Mobile, Web | Advanced charting, Automated trading, Customizable indicators |
| WebTrader | Web | Simple interface, No installation, Easy access |
| MetaTrader 5 | Desktop, Mobile | Advanced charting, 1-click trading, Multi-currency support |
| cTrader | Desktop, Mobile | Fast order execution, Market depth analysis, Smart order routing |
| SuperForex Trading Platform | Web | Fully integrated with all accounts, Zero spreads, Real-time market updates |
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SuperForex Mobile App
SuperForex offers mobile applications for both iOS and Android devices. The mobile app allows traders to stay connected to the markets at all times. It includes the core features available on the desktop version, such as real-time charts, access to market news, and the ability to execute trades quickly. The app is designed to be intuitive, making it easy for beginners to navigate while still offering advanced functionalities for more experienced traders.
SuperForex’s mobile app has generally received positive feedback from users, with the iOS app offering slightly higher ratings. Overall, the app provides an excellent way for traders to manage their accounts on the go.
| Feature | iOS Rating | Android Rating |
|---|---|---|
| Mobile Trading | 4.6 | 4.4 |
| Real-Time Notifications | 4.7 | 4.5 |
| Customizable Charts | 4.5 | 4.3 |
| Easy Order Execution | 4.6 | 4.4 |
SuperForex Account Types
SuperForex offers a variety of account types to suit different trading styles and preferences. For beginners, the Standard Account is ideal, with a low minimum deposit and easy-to-understand features. For more advanced traders, the broker also offers ECN accounts with tighter spreads and higher leverage options. Each account type comes with different conditions regarding minimum deposits, leverage, and commissions.
Whether you’re a beginner or an experienced trader, SuperForex provides the flexibility to choose the best account type for your needs.
| Account Type | Minimum Deposit | Leverage | Spreads | Commission |
|---|---|---|---|---|
| Standard | $1 | Up to 1:1000 | 1.5 pips | No |
| ECN | $200 | Up to 1:1000 | 0.2 pips | Yes |
| VIP | $1000 | Up to 1:1000 | 0.5 pips | Yes |
| Swap-Free | $1 | Up to 1:1000 | 1.5 pips | No |
| Micro | $10 | Up to 1:500 | 2 pips | No |
| Islamic | $1 | Up to 1:1000 | 1.5 pips | No |
| Demo | Free | Virtual | Varies | No |
SuperForex Commissions & Fees
SuperForex has a transparent fee structure with competitive spreads and commissions. For traders on the Standard Account, there are no commissions, and the spreads are relatively competitive. On the ECN account, traders pay a commission but enjoy tighter spreads. The broker also offers a swap-free account for traders who want to avoid overnight fees, which is particularly useful for traders in countries where interest-bearing transactions are prohibited.
The fee structure is designed to cater to different types of traders, with options available for those who prefer lower spreads or higher commissions in exchange for better pricing.
| Fee Type | Standard Account | ECN Account | VIP Account | Swap-Free Account |
|---|---|---|---|---|
| Spread (Typical) | 1.5 pips | 0.2 pips | 0.5 pips | 1.5 pips |
| Commission | No | Yes | Yes | No |
| Swap (Long) | No | Yes | Yes | No |
| Swap (Short) | No | Yes | Yes | No |
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SuperForex Deposit & Withdrawals
SuperForex offers a wide range of deposit and withdrawal methods, making it easy for traders to fund their accounts or withdraw profits. The broker supports bank transfers, credit/debit cards, and various e-wallet options. Deposits are generally free, but withdrawal fees may apply depending on the payment method used.
The broker also ensures fast processing times for both deposits and withdrawals, with most transactions completed within 24 hours. This flexibility and speed help traders manage their funds with ease.
| Payment Method | Deposit Fee | Withdrawal Fee | Processing Time |
|---|---|---|---|
| Bank Transfer | Free | $25 | 1-3 business days |
| Credit/Debit Card | Free | Free | 24 hours |
| E-Wallet | Free | Free | 24 hours |
| Neteller | Free | Free | 24 hours |
| Skrill | Free | Free | 24 hours |
| Bitcoin | Free | Free | 1-2 business hours |
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SuperForex Customer Support
SuperForex provides comprehensive customer support that is available 24/7. Traders can reach out to the support team via live chat, email, or phone. The support team is responsive and typically provides quick solutions to any inquiries. SuperForex also offers support in multiple languages, making it easier for non-English speaking traders to communicate.
Customer support is a crucial element for beginner traders, and SuperForex ensures that help is always available whenever needed.
| Support Channel | Availability | Response Time | Languages |
|---|---|---|---|
| Live Chat | 24/7 | Fast | English, Spanish, Arabic, more |
| 24/7 | Moderate | English, Spanish, Arabic, more | |
| Phone | 24/7 | Fast | English, Spanish, Arabic, more |
| FAQ | 24/7 | Fast | English, Spanish, Arabic, more |
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SuperForex Education & Research
SuperForex offers a wide range of educational resources, including video tutorials, articles, and webinars. These materials are designed to help beginner traders understand the basics of trading and gradually progress to more advanced strategies. Additionally, the broker provides daily market analysis and trading signals, which can be invaluable for those looking to stay informed about market trends.
The educational content is well-structured, making it easy for traders to learn at their own pace.
| Resource Type | Availability | Quality |
|---|---|---|
| Video Tutorials | Yes | High |
| Articles | Yes | High |
| Webinars | Yes | High |
| Market Analysis | Yes | High |
| Trading Signals | Yes | High |
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SuperForex Google Reviews & Reputation
SuperForex has garnered positive reviews on various platforms, including Google and Trustpilot. The broker is generally praised for its low fees, wide range of instruments, and user-friendly platforms. However, some users have pointed out the challenges with the withdrawal process and the need for better transparency in some areas.
Despite a few complaints, SuperForex maintains a solid reputation and is a popular choice among beginner traders.
| Rating Factor | Score (out of 5) | Trustpilot Rating | App Store Rating | Google Play Rating |
|---|---|---|---|---|
| Customer Satisfaction | 4.2 | 3.8 | 4.5 | 4.4 |
| Withdrawal Process | 3.7 | 3.6 | 4.3 | 4.2 |
| Trading Conditions | 4.5 | 4.2 | 4.6 | 4.5 |
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SuperForex Bonuses & Promotions
SuperForex provides various bonuses and promotions to enhance the trading experience. These include deposit bonuses, cashback offers, and loyalty programs. For new traders, the broker also offers a welcome bonus to help get started with trading.
- 30% Deposit Bonus
- Cashback Offers
- Loyalty Program for Regular Traders
- $50 No Deposit Bonus
- Weekly Trading Contests
SuperForex Advantages & Disadvantages
| Pros | Cons |
|---|---|
| Competitive spreads | Withdrawal fees for some methods |
| Wide range of trading instruments | Withdrawal processing times can vary |
| High leverage | Limited customer reviews |
| Excellent educational resources | Some fees on specific accounts |
Final Thoughts
SuperForex is a solid choice for beginner traders, thanks to its simple account types, comprehensive educational resources, and competitive fees. While there are a few drawbacks, such as withdrawal fees and longer processing times, the broker offers a well-rounded trading experience overall.
SuperForex is highly recommended for those just starting their trading journey due to its accessibility, support, and low-cost entry.