SuperForex

Introduction

SuperForex is a global brokerage firm that offers online trading services to clients all around the world. The company was established in 2013 and has since been providing a wide range of financial instruments including foreign exchange (Forex) trading, CFDs on futures, indices, shares, and cryptocurrencies. In this review, we will delve deeper into the offerings, services, and reputation of SuperForex to help you decide if this is the right broker for your trading needs.

Regulation and Safety of Funds

SuperForex is registered in the offshore jurisdiction of Belize, with the International Financial Services Commission (IFSC) overseeing its operations. While the IFSC is a recognized regulatory body, it’s worth noting that offshore regulation is generally considered less stringent than those in major financial hubs like the UK, US, or Australia.

This raises some concerns about the safety of client funds. SuperForex claims to segregate client funds from its corporate funds and to offer a compensation scheme in case of insolvency. However, the details of these safety measures are not clearly specified on their website.

Trading Platforms

SuperForex offers the popular MetaTrader 4 (MT4) platform, a positive point for the broker. MT4 is widely recognized for its user-friendly interface, advanced charting capabilities, numerous inbuilt technical indicators, and automated trading capabilities.

Account Types and Trading Conditions

SuperForex offers a wide range of account types, including Standard, Swap-free (Islamic), and No Spread accounts. They also provide a demo account for beginners to practice their trading strategies. However, the broker has received mixed reviews regarding its trading conditions. Some users have reported high and variable spreads, while others have complained about slow order execution and frequent slippage.

Customer Service

Customer service is a crucial aspect of any brokerage firm. SuperForex offers 24/5 customer support through various channels including live chat, email, and phone. However, there have been several complaints about the quality of their customer service, with some users reporting slow response times and unhelpful responses.

Education and Research

SuperForex provides a variety of educational resources, including free training courses, seminars, webinars, and a comprehensive Forex glossary. They also offer some basic analytical tools, such as economic news and a Forex calculator. However, their research offering is somewhat limited compared to other brokers, with no in-depth market analysis or advanced trading tools.

Conclusion

In conclusion, while SuperForex offers a wide range of financial instruments and the popular MT4 platform, there are several areas where the broker falls short. The lack of strong regulatory oversight, mixed reviews about trading conditions and customer service, and limited research offerings raise concerns about the overall quality of the broker. As always, we recommend traders to do thorough research and consider multiple brokers before deciding on the right one for their trading needs.