SuperForex is a global ECN broker regulated by the IFSC and has been offering trading services worldwide since 2013. It operates in over 150 countries and provides a variety of financial instruments. Let’s explore the SuperForex broker review, features, fees, account types, and more.
Quick insights
SuperForex is regulated by the International Financial Services Commission (IFSC), which is not considered a top-tier financial authority. This could be a concern for some traders who prioritize regulatory oversight and protection.
SuperForex broker review
Is SuperForex a good broker? Yes, it is a good global broker that offers a wide range of trading instruments, including Forex (currency pairs), stocks, commodities, cryptocurrencies, and indices, allowing traders to engage in various markets. It is regulated by the International Financial Services Commission (IFSC), ensuring a level of protection for its users.
The platform provides several features such as mobile trading, easy deposit and withdrawal options, educational resources, and a Forex Copy system that allows traders to copy strategies from experienced traders.
SuperForex offers different account types, including Standard accounts, No-spread accounts, Swap-free (Islamic) accounts, and Demo accounts for beginners to practice. In terms of security, the broker uses SSL encryption to protect users’ data and ensures that customer funds are kept in separate accounts for added safety.
SuperForex awards
Here are the awards won by SuperForex
| Year | Awards | Presented by |
|---|---|---|
| 2023 | Best Forex Affiliate Program Africa | Finance Derivative |
| 2022 | Best Cryptocurrency Broker LATAM | Global Business Magazine |
| 2022 | The Best Withdrawal Options, Africa | World Financial Award |
| 2021 | Best ECN Broker in Africa | Global Business Magazine |
| 2021 | Best ECN Broker in Africa | International Business Magazine |
| 2020 | Best New ECN Broker in Africa | Global Brands Magazine |
| 2017 | Best Affiliate Program | ShowFX World |
| 2016 | Best Forex Broker in MENA Region | ShowFX World |
| 2015 | Fastest Growing Broker | ShowFX World |
| 2015 | Best Newcomer | Forex Report |
Regulation of SuperForex
is SuperForex legit? No, it is not a legitimate broker, and it is regulated by the International Financial Services Authority (IFSA).
Security measures of SuperForex
The various security measures are given below.
- Investor Compensation Fund (ICF): You are protected with compensation of up to €20,000 in case the broker becomes insolvent.
- Negative balance protection: You can’t lose more money than you have in your account, protecting you from negative balances even in volatile markets.
- Segregated funds: Your money is kept separate from company funds, ensuring it’s safe even if the company faces financial issues.
- SSL certificate: Protects all data on the website, ensuring safe communication and preventing data interception.
- Account verification: You must verify your identity through email, ID scan, address, and phone number checks for added security.
- Log-in history: You can view your log-in history to spot any suspicious activity, with email alerts for unusual logins.
- Device ID management: You can limit access to your account to specific devices, enhancing security.
- Allowed IP list: You can restrict account access to approved IP addresses, protecting against unauthorized access.
How to open a SuperForex account?
- Visit the website: Go to the SuperForex website. Choose your language and click “Open Account.”
- Agree to terms: Read the agreement and check the box to agree. Click “Open Account.”
- Enter your info: Choose an individual or corporate account. Fill in your name, date of birth, email, phone, country, and address. Click “Next.”
- Select account type: Pick your account type (like ECN, Standard), leverage, and currency. Check for an Islamic account option if needed. Click “Open Account.”
- Verify your info: Click “Verify” next to your details in the profile section. Follow the email and phone instructions and upload the required documents.
- Make a deposit: Go to “Financial Operations,” select “Deposit Money,” and follow the instructions to deposit funds.
- Start trading: Once your deposit is confirmed, you can start trading on SuperForex!
SuperForex trading instruments
SuperForex offers different kinds of assets are
Cryptocurrencies
You can trade popular cryptocurrencies like Bitcoin and Ethereum with leverage up to 1:10 on the MetaTrader 4 (MT4) platform, with no commissions for deposits or withdrawals, up to 50% discounts on spreads, and fixed spreads that remain stable regardless of market fluctuations.
SuperForex allows you to open a Crypto account with Tether (USDT) or Dogecoin (DOGE), so you can store your funds in cryptocurrency without converting them to USD for deposits and withdrawals.
Gold trading
You can trade gold and other precious metals with SuperForex, which offers a low initial deposit of just $1, fast order execution in under one second, and no extra fees. Gold prices are stable and do not fluctuate wildly, making it a reliable trading option on the MetaTrader 4 (MT4) platform.
Spot metals
You can trade various spot metals like Silver, Platinum, and Palladium with SuperForex, which offers a low minimum deposit, 0% commission on trades, and access to ECN accounts. Metals are recognized as safe assets, making them a good choice for both long-term investments and beginners.
Stock trading
You can trade shares of top companies like Amazon, Tesla, Apple, IBM, and Microsoft with SuperForex. The platform requires a minimum deposit requriment of just $1, offers 0% commission on trades, and provides access to ECN accounts with over 17 payment methods.
It offers leverage to control more shares without full purchase, the ability to profit from overpriced stocks through short selling, and easy access to company news for informed decisions.
Oil trading
You can trade Brent oil and other energy commodities with SuperForex, which offers a minimum deposit of just $1, 0% commission on trades, access to ECN accounts, and over 17 payment methods.
Oil trading is profitable because it has high liquidity for easy trading, no need for physical delivery, predictable prices using technical analysis, and offers higher yields than other commodities.
Indices trading
You can trade various stock indices with SuperForex, starting with a minimum deposit of $1, 0% commission, and access to ECN accounts. Stock indices are groups of stocks that show overall market value.
You can use SuperForex leverage up to 1:1000, making it easy to maximize your investment. Indices offer reliable trends, and predictable seasonal patterns, and are less likely to be manipulated, making them a safer trading option. Popular indices include the Dow Jones, NASDAQ, and FTSE.
SuperForex account types
SuperForex offers two account types are
- STP account
- ECN account
STP accounts
SuperForex offers STP accounts, which feature spreads starting from 0.5 pips and leverage up to 1:1000. You can open an STP account with a minimum deposit of just $1.00, making it accessible for all traders. These accounts support over 12 local currencies, helping you avoid extra conversion fees.
Types of STP accounts
| Account type | Account currency | Min deposit | Max deposit | Recommended deposit | Compatible with bonuses | Lot size | Maximum leverage | Swaps | Spreads | Compatible with Forex copy |
|---|---|---|---|---|---|---|---|---|---|---|
| Standard | USD, EUR, GBP, CNY, AED, MYR, and etc | $5 | Unlimited | $50 | Welcome, Energy, Hot, No deposit | 10,000 USD | 1:1000 | Yes | Fixed | Yes |
| Swap-Free | USD, EUR, GBP, CNY, and etc | $5 | Unlimited | $50 | Welcome, Energy, Hot, No deposit | 10,000 USD | 1:1000 | No | Fixed | Yes |
| No Spread | USD, EUR | $50 | Unlimited | $500 | Welcome, Energy, Hot | 100,000 USD | 1:1000 | No | 0 | No |
| Micro Cent | USD, EUR, ZAR | $1 | Unlimited | $10 | Welcome, Energy, Hot | 10,000 cents | 1:1000 | Yes | Fixed | No |
| Profi STP account | USD, EUR, GBP | $500 | Unlimited | $1,000 | Welcome, Energy, Hot | 100,000 USD | 1:3000 | No | From 0.01 pips | No |
| Crypto | USD | $50 | Unlimited | $1,000 | Welcome, Energy, Hot | 10 BTC / LTC / ZEC and etc | 1:10 | No | Fixed | No |
ECN accounts
ECN (Electronic Communications Network) accounts are ideal for traders who want fast execution and low costs. They offer spreads starting from 0.5 pips, leverage up to 1:1000, and a minimum deposit of just $1, with over 12 local currencies available.
Traders choose ECN accounts for their floating spreads, which fluctuate based on market events due to numerous participants in the network.
Types of ECN accounts
| Account type | Account currency | Min deposit | Max deposit | Recommended deposit | Compatible with bonuses | Lot size | Maximum leverage | Swaps | Spreads | Compatible with Forex copy |
|---|---|---|---|---|---|---|---|---|---|---|
| ECN Standard | USD, EUR, GBP, CNY, ZAR, and etc | $100 | Unlimited | $500 | Welcome, Energy, Hot | 100,000 USD | 1:1000 | Yes | Floating | No |
| ECN Standard-Mini | USD, EUR, GBP, CNY, etc | $5 | Unlimited | $50 | All bonuses | 10,000 USD | 1:1000 | Yes | Floating | No |
| ECN Swap-Free | USD, EUR, GBP, CNY, MYR, etc | $100 | Unlimited | $500 | Welcome, Energy, Hot | 100,000 USD | 1:1000 | No | Floating | No |
| ECN Swap-Free Mini | USD, EUR, GBP, CNY, MYR, etc | $5 | Unlimited | $50 | Welcome, Energy, Hot | 10,000 USD | 1:1000 | No | Floating | No |
| ECN Crypto | TTR, DGE, LTC, BCH | $50 | Unlimited | $1,000 | Welcome, Energy, Hot | 10 BTC / LTC / ZEC and etc | 1:10 | No | Floating | No |
SuperForex demo account
SuperForex offers a demo account that lets you trade assets like Forex, gold, and shares without risking real money. It’s a great way to practice and learn trading strategies before using real funds.
Additionally, SuperForex provides a variety of bonuses, including:
- SuperForex welcome bonus (100%): Double your deposit with a 100% bonus.
- 750% extreme hob Bonus: Get 750% extra for bigger trades and potential profits.
- Easy deposit bonus: Start with just $1 and get up to 3000%, with up to $750 in bonus funds.
- 75% energy+ bonus: A unique bonus where both the bonus and profits can be withdrawn.
- Refer a friend bonus: Invite friends and earn up to $375 in bonuses.
How to open a demo account
To open a Forex demo account, visit the SuperForex website and click “Open Account.” Fill in your name, email, and phone number, then verify your email.
Download the trading platform (like MetaTrader) and log in with the provided credentials. You can now practice trading with real-time prices, risk-free, and try out different strategies!
SuperForex trading platforms
The SuperForex MetaTrader 4 (MT4) platform is a popular tool for trading in Forex, CFDs, and futures markets. It’s easy to use and works on different devices, including Windows, Mac, Linux, Android, and iOS. With SuperForex MT4, you can:
- Trade with real or demo accounts.
- Easily switch between different trading accounts.
- View your complete trade history.
- Orders are executed in just 1 second.
- Offers a wide variety of tools to help with trading decisions.
- Use 39 different graphic objects for analysis.
- Access live prices instantly for accurate trading.
You can download the MT4 app from various platforms, and SuperForex also offers a mobile app for managing trades on the go. The mobile app lets you open accounts, deposit/withdraw money, and even copy other traders’ deals.
SuperForex deposit and withdrawals
SuperForex offers a variety of deposit and withdrawal methods to cater to different preferences.
Deposit methods
| Payment methods | Transfer currencies | Commissions and fees | Processing Time |
|---|---|---|---|
| Bank wire transfers | All | No commission | 2-4 business days |
| Credit/Debit Cards | All | No commission | Instant |
| Electronic payments | USD, EUR, IDR, NGN, JPY, KES, TZS, UGX, GHS, RWF, ZMW | No commission | Instant |
| Cryptocurrencies | BTC, LTC, DOGE, PPC, DASH, RDD, ZEC, BLK, USDT | No commission | Instant |
| Local payments (Malaysia, Indonesia, Nigeria, Kenya, Zimbabwe, Namibia, Iran) | MYR, IDR, NGN, KES, ZWD, NAD, IRR | No commission | Instant |
| SuperForex money | USD, MYR, IDR | No commission, Discount +7% | Instant |
SuperForex withdrawal methods
| Withdrawal methods | Transfer currencies | Commissions and fees | Processing time |
|---|---|---|---|
| Bank Wire Transfers | All | 3% + 35 USD (Min), 1.4-3.8% (ZAR), 3% (IDR, MYR, THB, VND), 5% (BRL, MXN) | 2-4 business days |
| Credit/Debit Cards | All | 3% + 10 USD, 3% CNY | 2-4 business days |
| Electronic payments(Skrill, STICPAY, Neteller, Astropay, Bitwallet, etc) | USD, EUR, IDR, MYR, THB, VND, BRL, MXN, NGN, JPY, KES, TZS, UGX, GHS, RWF, ZMW | Variable fees based on payment method | 1-4 business hours |
| Cryptocurrencies | BTC, LTC, DOGE, PPC, DASH, RDD, ZEC, BLK, USDT | 3 USD + 5% | 1-3 business hours |
| Local Payments (Malaysia, Indonesia, Nigeria, Kenya, Zimbabwe, Namibia, Iran) | MYR, IDR, NGN, KES, ZWD, NAD, IRR | Local bank wire fee | 1-3 business hours |
| SuperForex Money | USD, MYR, IDR | No commission | 1-3 business days |
SuperForex special offers
SuperForex offers several useful offers to enhance your trading experience:
- Auto-reset balance program: Never worry about your balance dropping below zero—your account will automatically reset to zero if you make a bad trade.
- No fees on deposits and withdrawals: Deposit and withdraw without any additional fees. SuperForex covers intermediary costs, offering over 30 payment methods for convenience.
- Deposit protection program: Protect your deposit for up to 20 days. If you lose 90% or more of your deposit during this period, SuperForex refunds it as a bonus.
- Interest rate on equity: Earn 5% annual interest on your free margin, paid monthly, just to keep funds in your account.
- SuperForex contests: It offers exciting trading contests where participants can win real cash prizes. Whether it’s the CryptoMania or Gold Rush, these contests allow traders to compete using demo accounts for a chance to win bonus funds.
Fees and commission of SuperForex
The various fees and commissions of superForex are given below.
Deposit commission
- Bank wire transfers, Electronic payments, Cryptocurrencies, Local payments, and credit/Debit Cards: No commission.
- SuperForex money: No commission, Discount +7%.
Withdrawal commission
- Bank wire transfers: 3% + USD 35 (minimum), 1.4-3.8% (ZAR), 3% (IDR, MYR, THB, VND), 5% (BRL, MXN).
- Credit/Debit cards: 3% + USD 10, 3% CNY.
- Electronic payments: Variable fees based on payment method.
- Cryptocurrencies: 3 USD + 5%.
- Local payments: Local bank wire fee.
- SuperForex money: No commission.
Fees of deposit and withdrawal
- No fees for deposit and withdrawal.
Commission for trading assets
- Zero commission for all trading assets.
SuperForex customer support
SuperForex provides comprehensive customer support with a global reach. They offer assistance through phone, email, and messaging services, and live chat.
- Phone: +442045771579
- Text support: +3728-16-730-16 (text only through WhatsApp and Skype)
- E-mail: support@superforex.com
- Address: GOTSE DELCHEV / EMIL MARKOV, 47E, OFFICE 1, SOFIA, BULGARIA, 1404
Pros and cons of SuperForex
| Pros of SuperForex | Cons of SuperForex |
|---|---|
| You can start with just $1, choose between fixed or variable spreads, and even try copy trading (where you copy others’ trades). | The broker is regulated by the International Financial Services Commission (IFSC), which is not the most well-known regulator. |
| You can get the Pattern Graphix tool for MT4, which helps analyze price patterns and saves you time. | SuperForex clients can only use MetaTrader 4 (MT4) for trading; no other platforms are offered. |
| They support many payment methods, including crypto, with no fees and fast transactions. | – |
Conclusion
SuperForex is a global broker regulated by the IFSC, but it is not considered a well-regulated broker by top-tier financial authorities. It offers a wide range of trading instruments, including Forex, stocks, cryptocurrencies, and commodities.
With low minimum deposits, various account types (STP, ECN), and secure platforms like MetaTrader 4, it caters to traders of all levels. SuperForex also provides bonuses and educational resources.
While it has security features like SSL encryption and segregated funds, it’s essential to consider its pros and cons, including its regulatory status, before trading.
Pro Tips
Open an account with SuperForex today for access to global financial instruments, competitive fees, and a user-friendly platform! Ready to trade smarter and build trust with our trusted forex brokers check out insights into forex, CFDs, cryptocurrencies, and banking. We’re eager to hear your thoughts—drop your feedback in the comments below!
