Super Forex is an online foreign exchange broker based in Belize and claims that their clients earn over $100,000 profit each day. There is a wide range of assets and accounts for their clients to choose from and their goal is to exceed their customer’s expectations with innovation and customizable services 24/7. With their values of trust, quality, professionalism, and leadership, we will be looking into the services on offer to see if they manage to keep these values and so you can decide if they are the right broker for you to use.
Account Types
There are a lot of accounts, we will briefly outline them below, but won’t go into too much detail at this point of the review.
Standard Account:
The minimum deposit for this account is $1, it can have a currency of USD, EUR, GBP, RUB, ZAR, NGN, CNY, BDT, INR or THB. The accounts lot size is 10,000 units and can be leveraged up to 1:1000. The account has swap charges and comes with fixed spreads and access to the forex copy scheme and bonuses.
Swap-Free Account:
The minimum deposit for this account is $1, it can have a currency of USD, EUR, GBP, RUB, ZAR, NGN, CNY, BDT, INR or THB. The accounts lot size is 10,000 units and can be leveraged up to 1:1000. The account does not have any swap fees and comes with fixed spreads and access to the forex copy scheme and bonuses.
No Spread Account:
The minimum deposit for this account is $1,000, it can have a currency of USD, EUR or GBP. The accounts lot size is 100,000 units and can be leveraged up to 1:1000. The account does not have any swap fees and also has 0 spreads. This account does not have access to the copy scheme and has the welcome, energy, and hot dynamic bonuses available.
Micro Cent Account:
The minimum deposit for this account is $1 with a maximum deposit of $3,000, it can have a currency of USD or EUR. The accounts lot size is 10,000 units and can be leveraged up to 1:1000. The account has swap charges and comes with fixed spreads and access to the welcome, energy, and hot dynamic bonuses.
Profi STP Account:
The minimum deposit for this account is $1,000, it can have a currency of USD only. The accounts lot size is 100,000 units and can be leveraged up to 1:200. The account has swap charges and also has 0 spreads. This account does not have access to the copy scheme and has the welcome, energy, and hot dynamic bonuses available.
Crypto Account:
This account requires a minimum deposit of $100, its base currency is USD but it is then converted into Bitcoin. The account’s trade size is 10 BTC and can be leveraged up to 1:10. The account does not have swap charges and comes with a fixed spread. The account has access to the welcome, energy, and hot dynamic bonuses.
ECN Standard:
The minimum deposit for this account is $1, it can have a currency of USD, EUR or GBP. The accounts lot size is 100,000 units and can be leveraged up to 1:1000. The account has swap charges and comes with floating spreads. The account has access to the welcome, energy, and hot dynamic bonuses.
ECN Standard Mini:
The minimum deposit for this account is $1, it can have a currency of USD, EUR or GBP. The accounts lot size is 10,000 units and can be leveraged up to 1:1000. The account has swap charges and comes with floating spreads. The account has access to the welcome, energy, and hot dynamic bonuses.
ECN Swap-Free:
The minimum deposit for this account is $1, it can have a currency of USD, EUR or GBP. The accounts lot size is 100,000 units and can be leveraged up to 1:1000. The account does not have any swap fees and comes with floating spreads. The account has access to the welcome, energy, and hot dynamic bonuses.
ECN Swap-Free Mini:
The minimum deposit for this account is $1, it can have a currency of USD, EUR or GBP. The accounts lot size is 10,000 units and can be leveraged up to 1:1000. The account does not have any swap fees and comes with floating spreads. The account has access to the welcome, energy, and hot dynamic bonuses.
ECN Crypto:
This account requires a minimum deposit of $100, its base currency is USD but it is then converted into Bitcoin. The account’s trade size is 10 BTC and can be leveraged up to 1:10. The account does not have swap charges and comes with a floating spread. The account has access to the welcome, energy, and hot dynamic bonuses.
Platforms
MetaTrader 4 is the only platform on offer from Super Forex and it is a good option to have. MT4 is compatible with hundreds and thousands of expert advisors and indicators to help make your trading more straight forward. It also offers high levels of customization and flexibility, impressive analytical tools and is accessible via a desktop download, mobile application, and web trader. There is a reason why it is one of the most used platforms and trusted by millions of traders all around the world.
Leverage
The leverage available depends on the account you use, we have outlined them below.
1:1000: STP Standard, STP Swap Free, STP No Spread, STP Micro Cent, ECN Standard, ECN Standard Mini, ECN Swap Free, ECN Swap-Free Mini
1:200: Profi STP
1:10: STP Crypto, ECN Crypto
Leverage can be selected when first opening up an account and you can get it changed by contacting the customer service team with the request.
Trade Sizes
Trade sizes start from 0.01 lots and go up in increments of 0.01 lots. We do not know what the maximum trade size is or how many trades you can have open at any one time.
Trading Costs
The majority of accounts do not have any added trading commissions, the STP No Spread account has an added commission of 0.038 and 0.062 depending on the instrument. The rest of the accounts do not seem to have any according to the product specifications.
The majority of accounts also have swap fees, these are charged for holding accounts overnight. Some accounts do not have them, please refer to the account type section of the review for specific accounts.
Assets
There are over 300 different instruments placed into various categories. Too many for us to write them all down but we have outlined some of them below. They have also not been categorized into different sections, instead, they are placed in lists based on the accounts.
Forex:
USDCHF, EURCHF, EURJPY, AUDUSD, USDCAD, NZDUSD, AUDCAD, AUDCHF, AUDJPY, CADCHF, CADJPY, CHFJPY, NZDCAD, NZDJPY, NZDCHF, EURAUD, GBPCHF, GBPJPY, AUDNZD, EURCAD, EURNZD, GBPAUD, GBPCAD, GBPNZD, USDDKK, USDSEK, USDNOK, USDZAR, EURRUB, USDRUB, AUDSGD, CHFSGD, EURDKK, EURNOK, EURSEK, EURSGD, GBPSGD, HKDJPY, NZDSGD, SGDJPY, USDHKD, USDMXN, USDPLN, AUDCZK, USDSGD, AUDDKK, AUDHKD, AUDHUF, AUDMXN, AUDNOK, AUDPLN, AUDSEK, CADCZK, CADDKK, CADHKD, CADHUF, CADMXN, CADNOK, CADPLN, CADSEK, CADSGD, CHFCZK, CHFDKK, CHFHKD, CHFHUF, CHFNOK, CHFPLN, CHFSEK, CHFZAR, EURCZK, EURHKD, EURHUF, EURMXN, EURPLN, EURZAR, EURTRY, GBPCZK, GBPDKK, GBPHKD, GBPHUF, GBPMXN, GBPNOK, GBPPLN, GBPSEK, GBPZAR, NZDCZK, NZDDKK, NZDHKS, NZDHUF, NZDMXN, NZDNOK, NZDPLN, NZDSEK, NZDZAR, USDCZK, USDHUF, CZKJPY, DKKJPY, HUFJPY, MXNJPY, NOKJPY, SEKJPY, USDTRY, USDCNH.
Metals:
Gold, Silver, Zinc, Platinum, Palladium, and Aluminum.
Stocks:
Plenty of stocks including Apple, Microsoft, IM, and Tesla.
Commodities:
Plenty available including Corn, Wheat, Cotton, Sugar, Cattle and more.
Indices:
Plenty of these are also available including AUS 200, FTSE 100, Nasdaq, Dow Jones and more.
Spreads
The starting spreads depend on the account you are using, we have outlined them below.
- STP Standard: Starting from 2 pips fixed spread
- STP Swap-Free: Starting from 2 pips fixed spread
- STP No Spread: Starting from 0 pips fixed spread
- STP Micro Cent: Starting from 2 pips fixed spread
- Profi STP: Starting from 0 pips fixed spread
- STP Crypto: Starting from 10 pips fixed spread
- ECN Standard: Starting from 0 pips variable spread
- ECN Mini: Starting from 0 pips variable spread
- ECN Swap-Free: Starting from 0 pips variable spread
- ECN Mini: Starting from 0 pips variable spread
- ECN Crypto: Starting from 0 pips variable spread
We find it hard to believe that the spreads and commission for the ECN accounts are both at 0, but that is what is stated. Fixed spreads mean they do not change, which variable spreads will move up and down depending on the amount of volatility in the markets.
Minimum Deposit
The minimum amount required to open up an account with Super Forex is just $1.
Deposit Methods & Costs
There are plenty of ways to deposit, the good news is that there are no added fees, however, you should contact your own bank or processor to see if they will add any fees of their own. Bank Wire Transfer, Visa/MasterCard, China UnionPay, Skrill, Sticpay, Neteller, PayCo, Triv, FasaPay, Perfect Money, Payeer, OnlineNaira, iPay, FlutterWave, Cryptocurrencies, and local payments are all available to use.
Withdrawal Methods & Costs
The same methods are available to withdraw with, however, now there are added fees that we have outlined below.
- Bank Wire Transfer: 3% + 35 USD
- Visa/MasterCard: 3% + 7 USD or 3% + 7 EUR for USD / EUR card, 3% + 50 RUB for RUB card, Minimum amount for withdrawal through card: 20 USD or 20 EUR, 3% + $10 on less than $100 withdrawal
- China UnionPay: 2%
- Skrill: 1 USD if amount < 50 USD, 1.5% if amount > 50 USD
- Sticpay: 2.5% + $0.3
- Neteller: 1 USD if amount < 50 USD, 2% if amount > 50 USD
- PayCo: 0.1%
- Triv: 0.5% for Withdrawal
- FasaPay: 0.5% for Withdrawal
- Perfect Money: 0.5%
- Payeer: 1%
- OnlineNaira: 2%
- iPay: 2%
- FlutterWave: 1.4% – 3.8%
- Cryptocurrencies: 0.9%
- Local Payments: Local Bank wire fee
Withdrawal Processing & Wait Time
Different methods have different processing times, we have categorized them for you.
2 to 4 Business Days: Bank Wire Transfer, Sticpay, OnlineNaira, iPay, FlutterWave.
1 to 3 Business Days: Visa/MasterCard, China UnionPay, Skrill, PayCo, Triv, FasaPay, Perfect Money, Payeer, Cryptocurrencies, Local Payments.
Bonuses & Promotions
There are plenty of different bonuses available, we have outlined some of the features below so you can get an understanding of the sorts of bonuses that Super Forex offer.
No Deposit:
This gets you an account with a $50 balance to trade without having to deposit. Profit acquired from trading on the No Deposit Bonus can be withdrawn. The amount free for withdrawal is determined by your trading volume according to the formula: 1 lot = $1. In other words, to withdraw $50 you must have traded at least 50 lots.
Easy Deposit:
Super Forex always tries to take care of the company’s customers. And especially for You, we`ve developed an “Easy Deposit Bonus”. This bonus amounts to the shocking 1000% of the deposit you choose to make. With an insignificant deposit sum such as $10, you can get a full $100 to trade with, allowing you to operate with a much greater volume than your deposit would normally allow.
Welcome+:
For an unlimited period, all new clients have the chance to receive our Welcome+ Bonus on each initial deposit. This aims to enable customers to trade with a bigger volume, thus helping traders earn more from deals. Typically, the Welcome Bonus gives you 40% extra funds on your deposit. However, our “plus” addition to the bonus adds a dynamic dimension whereby you can get 45% on your second deposit and 50% on the third one if the following criteria are met: This means that through your first, second, and third deposit you can get up to 50% extra funds thanks to the Welcome+ Bonus. After the third replenishment, each consecutive deposit will only be awarded 40% additional funds.
60% Energy:
After you open the trading account, go to your personal cabinet. Click the “Bonuses” tab on the left side of the screen. Choose “60% Energy Bonus“ from the list, and then click the “Get the 60% Energy Bonus” button. You will automatically receive an additional 60% of the amount of your deposit after the money is credited to your account.
120% Hot:
Make a deposit and receive a 120% bonus. The bonus will automatically be credited to your account after you make your first deposit. The bonus can be withdrawn when you’ve completed the requirements.
Dynamic:
This bonus operates on the principle of communicating vessels – the amount you trade and the amount you can withdraw work together. In practice, the more you trade, the more you will unlock for withdrawal from the bonus. One traded lot unlocks $1 in withdrawable funds.1 Lot = $1 of the amount of the bonus to be withdrawn without restrictions.
Educational & Trading Tools
The site has a few different educational materials, and all the courses are completely free. There are training centers to attend for seminars in various different countries, there are some economic news and analytics to help with your own analysis, there is also a forex glossary which details the meaning of different trading terms. There are also some courses covering aspects such as technical and fundamental analysis, news analysis, mathematical analysis and more to help with your trading.
Customer Service
You can contact the customer service team in a whole bunch of ways, there is a callback service, fill in your name and number and someone will give you a call, you can also use the phone number directly. There are also email addresses and skype usernames as well as some other social media available for the Customer Support Department and Partnership Department.
Phone: +65-3-1590282
Email: [email protected]
Skype: client-support.superforex
Demo Account
Demo accounts allow you to test out the market and strategies without risking any of your own capital, so it is good that they are available here at Super forex. The demo account come s with a minimum deposit value of $100 or a maximum of $50,000, it can be in USD, EUR or GBP, does not have the bonuses, trade sizes start from 0.1 lots and go up to 100 lots. The maximum leverage is 1:10 and the spread is fixed.
Countries Accepted
The following statement is available to view on the site: “The services listed on this website are not available to residents of the USA.”
Conclusion
There are a lot of choices when it comes to Super Forex, possibly too much as it can be quite confusing and hard to work out what the differences between each of the accounts actually are. We also still have no idea about the commissions as we find it hard to believe that there are no added commissions on an account with 0 spreads. Apart from that there are plenty of tradable assets and funding methods, free to get money in but can be expensive to get it back out is a trick used by a few brokers we have looked at and is not a nice practice to see.
Loads of bonuses with various features and the education seem to be quite in-depth which is nice. So if you are able to get over the confusing market conditions and the expensive withdrawals then Super Forex could be a good potential broker, but you could also find slightly cheaper brokers out there too.
