SuperForex Review Receives Moderate-Risk Rating From Analysts
Traders Union (TU) has recently released its most up-to-date broker rankings along with comprehensive evaluations of the listed companies as part of its ongoing commitment to keeping traders well-informed.
Among the notable assessments is the in-depth SuperForex review, which is an extensive breakdown of the broker’s services, licensing status, prerequisites, trading conditions, and authentic feedback from customers.
Following a rigorous assessment of 350 companies using the TU Methodology, financial experts have determined that SuperForex falls into the category of moderate-risk brokers. It has earned a TU Overall Score of 6.26 out of 10, placing it at the 59th position among the selected firms.
In terms of the most influential parameters, the brokerage platform received high scores of 5.89, 5.64, 7.14, 7.02, and 6.80 in user satisfaction, regulation and safety, commissions and fees, trading instruments, and brand popularity. However, it got low scores of 1.31 and 0.92 out of 10 in customer support and education, respectively.
SuperForex broker distinguishes itself from the majority of its competitors with a range of impressive features. It provides a remarkable total of 11 real accounts, an extensive selection of over 2,000 financial instruments, and the flexibility of leverage up to 1:3000, which are a set of trading parameters unmatched by any other platform.
It also offers a complimentary demo account, a generous array of bonuses tailored for beginners, and regular contests with tangible cash prizes. While there are no trading commissions, it’s worth noting that there is a withdrawal fee.
The platform extends its services to encompass both ECN (Electronic Communications Network) and STP (Straight-Through Processing) accounts, granting access to a diverse range of markets that encompass currency pairs, cryptocurrencies, stocks, indices, oil, and metals.
Within the STP protocol, an automated electronic data transfer process operates without the need for manual intervention. Various types of accounts are on offer, including standard, mini, crypto, and swap-free accounts.
Notably, the STP group features a distinctive no-spread account, where only a trading commission is applied. Depending on the selected account, the spread can either be floating or fixed, commencing from as low as 0 pips.
The choice of account also dictates the minimum deposit, maximum leverage, available bonuses, and other relevant parameters. For instance, the ECN Standard Mini account requires a minimum deposit of $5.
SuperForex also provides a Forex Copy Trading option, which is compatible with most account types and open to legal entities exclusively. It encompasses robust and complimentary analytical tools, comprehensive educational courses, an array of bonuses, promotions, and regular contests.
Yet, the brokerage company also has some shortcomings. Clients complain that they can only trade through MetaTrader 4, and other trading platforms are not available.
Besides, it does not offer any of its services to traders located in other countries such as Australia, Ukraine, and North Korea.
Customers are also concerned with their security since SuperForex’s activities are only regulated by the International Financial Services Commission of Belize (IFSC), an infamous regulator.
Adding to traders’ frustration is the platform’s customer support, which only offers help to its club members during the weekends.
To sum up, TU experts advise users to conduct a careful assessment of both the advantages and disadvantages before considering the decision to open an account with this broker, given that not all clients have expressed satisfaction with the company.