Superforex
Forex & CFD broker · Belize offshore (licence reportedly revoked) · Multiple red flags
TC RATING
Not Rated
We do not recommend this broker. SuperForex holds only an offshore Belize licence, which some records show as revoked, not Tier 1 regulation such as the FCA, ASIC, or CySEC. It also carries a Traders Court guilty verdict, a fake-review history, and withdrawal complaints, with signs it may no longer be operating. It does not qualify for a TC Rating.
SuperForex is an offshore broker registered in Belize, and the case against it is stronger than its marketing suggests. It holds only a low-tier offshore licence that some records show as revoked, it lost a Traders Court case, it has a history of fake positive reviews and withdrawal complaints, and there are signs it may no longer be operating. We do not recommend it.
Is SuperForex regulated?
Only offshore, and even that is in doubt. SuperForex is operated by Superfin Corp and was licensed by the International Financial Services Commission (IFSC) of Belize, now part of the Belize Financial Services Commission. Belize is a low-tier offshore regulator with weak investor protection and no compensation scheme.
There is a further problem: industry databases show the SuperForex IFSC licence as revoked. Even taken at its best, an offshore Belize licence is not remotely comparable to authorisation from a top-tier regulator such as the FCA, ASIC, or CySEC. SuperForex holds no top-tier licence of any kind.
One claim needs correcting directly. SuperForex has been described as offering Investor Compensation Fund (ICF) protection of up to €20,000. That is not accurate. The ICF is an EU scheme tied to CySEC-regulated firms. A Belize-registered broker does not provide it, and no offshore broker can. Any suggestion of ICF cover here is misleading.
- YOUR MONEY IS NOT PROTECTED
Trading with an unregulated broker carries real risks. You have no access to a financial ombudsman, no guaranteed segregation of your funds, and no compensation scheme if the broker fails or refuses a withdrawal.
Documented red flags
This is not just a case of weak regulation. SuperForex carries specific, documented concerns:
- A Traders Court guilty verdict. ForexPeaceArmy’s Traders Court returned a guilty vote against SuperForex in 2018, and the FPA advises a high level of caution.
- Fake reviews. Independent monitors recorded large volumes of suspicious, fake positive reviews submitted for SuperForex across multiple periods. Manufactured praise is a serious trust signal in the wrong direction.
- Withdrawal complaints. Users have reported delayed or denied withdrawals, and in some cases profits being cancelled along with bonuses.
- Possible shutdown. Recent checks have reported the SuperForex website failing to load, suggesting the broker may have wound down. If you cannot reach a live, functioning site, treat that as a reason to stay away rather than a temporary glitch.
A note on the bonuses
SuperForex marketed extremely large bonuses, advertised as high as 3000%, alongside welcome, deposit, and refer-a-friend offers. Outsized bonuses like these are a classic feature of high-risk offshore brokers. Bonus money is the company’s funds, not yours, and it usually comes with heavy trading conditions that make withdrawing anything difficult. A headline bonus figure is a marketing hook, not a benefit, and it is often the mechanism by which withdrawals get blocked.
What SuperForex offered
For context, SuperForex launched in 2013, ran on the MetaTrader 4 platform, and offered forex, metals, crypto, stocks, indices, and energies, with very low minimum deposits and high leverage up to 1:1000 or more. It targeted clients across Africa, MENA, Southeast Asia, and beyond. The trading setup was conventional. The reasons we do not rate it are the offshore-only and possibly revoked regulation, the adverse Traders Court finding, the fake-review pattern, the withdrawal complaints, and the signs it may no longer operate.
Why SuperForex is Not TC Rated
Our Regulation First standard recognises only brokers regulated by a top-tier authority such as the FCA, ASIC, or CySEC. SuperForex has only an offshore Belize licence, which some records show as revoked, no compensation scheme, a Traders Court guilty verdict, a fake-review history, and possible signs of closure. It falls well short of our bar, so it does not qualify for a TC Rating.
Conclusion
SuperForex is an offshore broker with a record that should give any trader pause: a low-tier and possibly revoked Belize licence, a Traders Court ruling against it, manufactured positive reviews, withdrawal complaints, and indications it may no longer be operating. We do not recommend it. If you want to trade, choose a broker regulated by a top-tier authority whose licence you can verify on the regulator’s own register.
- LOOKING FOR A REGULATED BROKER?
This review is published for information only. If you want a regulated broker for this type of trading, see our regulated CFD brokers instead, where every broker there is checked against our regulation-first standard.
Frequently asked questions
Is SuperForex regulated?
Only offshore in Belize (IFSC/FSC), and some records show that licence as revoked. It holds no top-tier licence such as the FCA, ASIC, or CySEC, and it does not provide EU ICF compensation despite past claims.
Is SuperForex a scam?
We do not label it conclusively, but it carries serious red flags: a Traders Court guilty verdict, a fake-review history, and withdrawal complaints. We recommend avoiding it.
Is SuperForex still operating?
This is unclear. Recent checks have reported its website failing to load, which suggests it may have wound down. We would not recommend depositing with it in any case.
