Super Forex Regulation - Money Protection

We tested SuperForex using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. We offer additional visibility for a fee, but our review content cannot be influenced. Read our About Us page to read our editorial guidelines and how we make money.

Trustworthiness & Regulation

SuperForex is a well-established broker, having been in operation since 2013. It is regulated by the Belize Financial Services Commission (BZ FSC), which requires the segregation of client funds from the company's operating capital and offers negative balance protection. However, it's important to note that SuperForex does not provide a deposit compensation scheme, which would protect investors if the firm were to fail.

In terms of popularity, SuperForex ranks 196th out of 815 forex brokers for organic traffic, receiving approximately 40,843 monthly visits. This indicates a moderate level of interest from traders. Despite its regulatory status, SuperForex has not garnered any user reviews, and it is rated 0.0 out of 5 by users. The broker is ranked 219th based on user ratings and 212th based on expert evaluations.

SuperForex is privately owned, not publicly traded, and does not provide its financials publicly, which might affect transparency and trust among potential clients. While being regulated is a positive factor, it's important to remember that even highly regulated and successful financial firms have failed in the past. Traders should always consider the full picture, including regulatory compliance, transparency, and the broker's reputation in the industry.

Company	Licenses & Regulations	Segregated Client Money	Deposit Compensation Scheme	Negative Balance Protection	Rebates	Max. Leverage Retail Clients
Finateqs Corp Ltd	Belize - BZ FSC					2000 : 1

Deposit Insurance

SuperForex does not provide a deposit compensation scheme under its regulatory framework with the Belize Financial Services Commission. This means that in the event of the broker's failure, investors may not have access to a compensation fund to recover their deposits.

While the broker offers segregated client accounts to protect customer funds from the company's operating capital, the absence of deposit insurance can be a significant consideration for traders looking to safeguard their investments.

Spreads and Costs

SuperForex offers relatively high average spreads compared to some industry-leading brokers, especially in the crypto asset class. The average spread for Forex, however, is not provided, making it challenging to assess their competitiveness in this category.

In the broader context of spreads and costs, SuperForex's offerings appear to be less favorable than those of market leaders such as IC Markets and Exness.

Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers

Note: Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD). Data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads including both spread and commission calculated in.

Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.

Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost. Note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments.

Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.

Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers

Comparison to other Brokers

SuperForex, a broker regulated by the Belize Financial Services Commission, has been in the industry for over a decade. While it offers high leverage options up to 2000:1 and a wide range of tradable instruments, it faces stiff competition from other industry-leading brokers such as IC Markets, Exness, and ThinkMarkets.

In terms of regulatory compliance, SuperForex's regulation by the Belize FSC is seen as less robust compared to the stricter regulations from entities like ASIC, CySEC, or the FCA that govern some of its competitors. This might influence traders' perception of the broker's trustworthiness and reliability.

SuperForex's user ratings are relatively low, with a score of 0.0 out of 5, and it lacks verified user reviews, making it challenging to assess customer satisfaction. This is in contrast to brokers like Oanda and Forex.com, which have established reputations and higher user ratings.

The broker's average spreads are less competitive, particularly in the crypto asset class. While IC Markets and Exness offer lower spreads across various asset classes, SuperForex's costs are higher, making it less attractive for cost-sensitive traders.

SuperForex's swap rates are not well-documented, and its offerings in this area are less favorable compared to the best available in the industry. Brokers like IC Markets provide more transparent and competitive swap rate structures.

Despite its shortcomings, SuperForex has a decent level of popularity with over 40,000 monthly organic visits, reflecting moderate interest in its services. However, it needs to enhance its transparency, customer feedback mechanisms, and competitive pricing to better compete with top-tier brokers.

Trading Platforms - Mobile, Desktop, Automated

SuperForex offers the popular MetaTrader 4 (MT4) platform, which is known for its robust charting capabilities, a wide range of technical indicators, and support for automated trading through Expert Advisors (EAs). The MQL4 programming language used for EAs is accessible for traders familiar with programming, offering flexibility in creating custom indicators and strategies.

The SuperForex App provides mobile trading options, allowing traders to manage their accounts and execute trades on the go. However, the app does not support automated trading, and its feature set is more limited compared to the MT4 platform.

What Can you Trade?

SuperForex offers a diverse range of tradable instruments, including Forex, Cryptos, Stocks, Indices, Commodities, ETFs, and Futures CFDs. Traders can choose from over 80 Forex pairs, 21 cryptocurrencies, and a substantial selection of stocks and indices.

The broker operates primarily through CFDs, meaning traders do not own the underlying assets but instead speculate on price movements. CFDs offer leverage, which can amplify both profits and losses, providing opportunities and risks for traders.

For more detailed information about the specific instruments available, traders can visit SuperForex's website to access the complete list of tradable symbols.

Available Leverage

SuperForex offers a maximum leverage of 2000:1 for retail clients, which is considerably high compared to many other brokers. This high leverage is available under the regulation of the Belize Financial Services Commission. However, traders must exercise caution when utilizing high leverage, as it can magnify both potential profits and losses.

The broker may provide different leverage levels based on the asset class and account type, so it's crucial for traders to verify these details on the broker's official website before trading.

Prohibited Countries

SuperForex does not offer its services to residents of several countries due to regulatory restrictions and legal constraints. These countries include the United States, European Union member states, and several others in regions such as Asia and the Middle East.

Traders should verify their eligibility by consulting SuperForex's website or contacting their support team, as these restrictions may change over time.

SuperForex Account types

	ECN Standard	ECN Standard-Mini	ECN Swap-Free	ECN Swap-Free Mini	ECN Crypto
Maximum leverage	1000:1				10:1
Mobile Platform	MT4 Mobile, Proprietary
Trading platform	MT4, Proprietary
Spread Type	Variable Spread
Minimum Deposit	100	5	100	5	50
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts	-			-

	ECN Standard
Maximum leverage	1000:1
Trading platform	MT4Proprietary
Mobile platform	MT4 MobileProprietary
Spread type	Variable Spread
Minimum deposit	100
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed

	ECN Standard-Mini
Maximum leverage	1000:1
Trading platform	MT4Proprietary
Mobile platform	MT4 MobileProprietary
Spread type	Variable Spread
Minimum deposit	5
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed

	ECN Swap-Free
Maximum leverage	1000:1
Trading platform	MT4Proprietary
Mobile platform	MT4 MobileProprietary
Spread type	Variable Spread
Minimum deposit	100
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	ECN Swap-Free Mini
Maximum leverage	1000:1
Trading platform	MT4Proprietary
Mobile platform	MT4 MobileProprietary
Spread type	Variable Spread
Minimum deposit	5
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed

	ECN Crypto
Maximum leverage	10:1
Trading platform	MT4Proprietary
Mobile platform	MT4 MobileProprietary
Spread type	Variable Spread
Minimum deposit	50
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed

SuperForex Web traffic

Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.

SuperForex Profile

Islamic Accounts

Cent accounts

Social trading

Bonuses

Fixed spread

Variable spread