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SuperForex review

SuperForex Review

SuperForex can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs) and trading facilities on shares, forex, commodities, and more to a large global market. SuperForex is currently not regulated by the CBN.

Louis Schoeman

Updated : March 27, 2022

Jump to:

005 regulations book

Regulation and Safety of Funds

005 feature selection

Account Types and Features

006 add user

Account Registration

002 candlestick

Range of Markets

007 fees

Fees

001 cash withdrawal

Deposits and Withdrawals

003 research

Education and Research

002 affiliate marketing

Affiliate Program

008 auction

Final Verdict

004 review

Pros and Cons

001 question

FAQ

Overall Rating

Min Deposit

USD 1 / 415 NGN 

Regulators

IFSC

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

300

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

SuperForex At a Glance:

🏛️ HeadquarteredBelize
🏛️ Nigerian Based OfficeNo
👍 Accepts Nigerian Traders?Yes
📅 Year Founded2013
📱 Nigerian Office Contact NumberNone
⚖️ RegulationNone that could be verified
🔎 License NumberNone
⚖️ CBN RegulationNo
✴️ Regional RestrictionsUnited States, Ukraine, North Korea
☪️ Islamic AccountYes
📈 Demo AccountYes
📈 Retail Investor Accounts11
🚀 Offers a Nigerian Account?No
💻 Dedicated Nigerian Account Manager?Unknown
💰 Affiliate ProgramYes
🚀 Order ExecutionMarket, Instant
📈 Average spreadFrom 0.0 pips EUR/USD
✴️ Margin Call30%
🌐 Stop-Out40%
📈 Minimum Trade Size0.01 lots
📈 Maximum Trade SizeUnlimited
🔎 Crypto trading offeredyes
📈 Maximum Leverage1:2000
📈 Leverage Restrictions for Nigeria?None
💳 Minimum Deposit (₦)400 NGN or an equivalent to $1
💳 Nigerian Naira Deposits Allowed?Yes
💰 Active Nigerian Trader Stats+-20 000
💰 Nigeria Daily Forex TurnoverUnknown

💳 Deposit OptionsBank Transfers
Credit Card
Debit Card
Skrill
Sticpay
Neteller
Triv
Fasapay
Perfect Money
OnlineNaira
BitWallet
AstroPay
MPesa
Airtel
MTN
Vodacom
Zamtel
Crypto Wallets
Local Payments
SuperForex Money
💰 Segregated Accounts with Nigerian Banks?No
💻 Trading PlatformsMetaTrader 4
SuperForex App
💰 Tradable AssetsForex
Precious Metals
Stocks
Indices
Cryptocurrencies
Commodities
Energies
ETFs
Futures
CFDs
🌐 Offers USD/NGN currency pair?No
🌐 USD/NGN Average SpreadN/A
📈 Offers Nigerian Stocks and CFDsNo
👨‍💼 Languages supported on WebsiteEnglish, Russian, Arabic, Thai, French, Spanish, Chinese (Simplified), Chinese (Traditional), Italian, Polish, Indonesian, Vietnamese, Portuguese, German, and several others.
👥 Customer Support LanguagesMultilingual
👥 Customer Service Hours24/5
👥 Nigerian-based customer support?No
💰 Bonuses and Promotions for NigeriansYes
✴️ Education for Nigerian beginnersYes
📊 Proprietary trading softwareYes
💰 Most Successful Nigerian TraderUche Paragon ($20 million net worth)
✔️ Is SuperForex a safe broker for Nigerians?Yes
✔️ Rating for SuperForex Nigeria9/10
✔️ Trust score for SuperForex Nigeria99%
👉 Open an account👉 Open Account

SuperForex Overview

SuperForex Landing Page

👉 Overall, SuperForex is the broker with the most trading account options and Naira-based accounts in the industry, with over 400 trading products to choose from. SuperForex offers a grand selection of tradable instrument, competitive trading conditions, and low commission charges on trades.

👉 SuperForex is based in Belize and does not have regulation through the Central Bank of Nigeria (CBN) or any local offices in the region.

👉 They provide competitive online trading conditions using MetaTrader 4 platforms for web, desktop, and mobile devices, all of which are user-friendly and easy to use. This features low spreads (fixed or variable), no commission costs, and lightning-fast trade executions.

👉 SuperForex also provides a social trading platform, a wide range of account kinds, and a high level of leverage. 

👉 This SuperForex review will provide traders with the details that they need to consider whether the broker is suited towards their unique trading objectives and needs.

SuperForex Distribution of Traders

SuperForex Top 5 countries

👉 The distribution of traders with SuperForex is as follows:

➡️️​ Algeria – 8.3%

➡️️​ South Africa – 6.6%

➡️️​ Ghana – 5.5%

➡️️​ Kenya – 5.5%

➡️️​ Islamic Republic of Iran – 5%

Popularity among traders who choose SuperForex

🥇 While SuperForex does not occupy a significant market share in Nigeria, the broker is a popular option for African traders overall, ranking it in the Top 50 forex brokers for Nigerian traders.

SuperForex popularity

SuperForex Regulation and Safety of Funds

superforex regulation

👉 SuperForex claims to be regulated by the International Financial Services Commission (IFSC) in Belize. However, there is no license or reference number given and upon further investigation, SuperForex’s regulatory status cannot be confirmed.

👉 While SuperForex is unregulated, the broker claims that it has a “segregated funds” approach. SuperForex claims not to utilize any of its customers’ money in its day-to-day activities. For the safety of the customers’ funds, they should be held in separate bank accounts and only utilized to finance trading activity.

👉 Secure Socket Layer (SSL) certificates have been implemented by SuperForex to safeguard the safety of its customers. Clients’ access devices and SuperForex servers are protected by this technique.

👉 SuperForex advises customers to double-check their contact information, including their email and phone number, to better secure their accounts.

👉 Anti-Money Laundering (AML) policy paper from SuperForex outlines the need for every customer to submit a government-issued ID card and a utility bill document to comply with anti-money laundering legislation. To complete the registration process for new customers, Nigerian traders must do this verification as part of the process.

👉 A log-in history can be seen by clients on their accounts and the log records each login’s IP address, as well as the location, date, and time, as well as the computer’s operating system and web browser. The goal is for a client to be able to quickly identify any unauthorized login activity.

👉 Customers can also store all their access devices in the Client’s Cabinet. Clients’ accounts cannot be accessed by any devices that do not appear on this list.

👉 In addition, customers have the option of creating a list of IP addresses from which they want to restrict access to their account. Clients’ accounts are protected by these features, which prevent hackers from gaining access to them.

Account Types and Features

Superforex account types

👉 Traders at SuperForex can choose from a broad range of account types. Nigerian traders must choose the account type that best suits their objectives and approach. Each account type has its own set of conditions and limitations.

👉 In addition to STP accounts, direct access to the Forex market with ECN accounts eliminates the need for intermediate banks. Subsequently, with the ECN accounts, there are no intermediaries or requotes between market players. This means that Nigerian traders can expect instant order execution through this technology and advantage.

👉 The full comprehensive list of accounts offered by SuperForex include:

➡️️​ Standard Account

➡️️​ Swap-Free Account

➡️️​ No Spread Account

➡️️​ Micro Cent Account

➡️️​ Profi STP Account

➡️️​ Crypto Account

➡️️​ ECN Standard Account

➡️️​ ECN Standard Mini Account

➡️️​ ECN Swap-Free Account

➡️️​ ECN Swap-Free Mini Account

➡️️​ ECN Crypto Account

Live Trading Accounts

Standard Account

👉 This is a typical account with basic trading conditions that cater to most Nigerian traders.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP, RUB, ZAR, NGN, CNY, BDT, INR, THB
💳 Minimum Deposit400 NGN or an equivalent to $1
💳 Maximum DepositUnlimited
📈 Maximum Leverage offered1:1000
💰 Commissions chargedNone
🚀 Instruments available on this AccountAll
💰 Bonuses offeredAll
📊 Position Size for the Account10,000 USD
📊 SwapsIncluded, Fixed
📈 Average SpreadsEUR/USD – 2 pips
XAU/USD – 7 pips
XAG/USD – 7 pips
AAPL – 1 pip
Brent Crude Oil (BRT) – 2.5 pips
SPX – 13 pips
NAS100 – 13 pips
SVXY.US – 7 pips
🔎 Forex Copy-trading offered
Included

Swap-Free Account

👉 This is a designated account for Nigerian Muslim traders, exempting them from swap fees.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP, RUB, IDR, MYR, AED, ZAR, NGN, BDT
💳 Minimum Deposit400 NGN or an equivalent to $1
💳 Maximum DepositUnlimited
📈 Maximum Leverage offered1:1000
💰 Commissions chargedNone
🚀 Instruments available on this AccountAll
💰 Bonuses offeredAll
📊 Position Size for the Account10,000 USD
📊 SwapsIncluded, Fixed
📈 Average SpreadsEUR/USD – 2 pips
XAU/USD – 7 pips
XAG/USD – 7 pips
AAPL – 1 pip
Brent Crude Oil (BRT) – 2.5 pips
SPX – 13 pips
NAS100 – 13 pips
SVXY.US – 7 pips
🔎 Forex Copy-trading offered
Included

No Spread Account

👉 This is an account that offers the lowest spreads to algorithmic traders, scalpers, active traders, and other fast-paced trading strategies.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP
💳 Minimum Deposit400 NGN or an equivalent to $1
💳 Maximum DepositUnlimited
📈 Maximum Leverage offered1:1000
💰 Commissions chargedYes, from 0.017%
🚀 Instruments available on this AccountForex, Precious Metals, Stocks, Commodities, CFDs, Futures
💰 Bonuses offeredWelcome, Energy, Hot, Dynamic
📊 Position Size for the Account10,000 USD
📊 SwapsIncluded, Fixed
📈 Average SpreadsEUR/USD – 0.1 pips
XAU/USD Spot – 0.1 pips
AAPL_NS – 0.1 pips
Brent Crude Oil (BRT) – 2.5 pips
🔎 Forex Copy-trading offered
Included

Micro Cent Account

👉 This is an ideal account for beginner traders because of its smaller position sizes and lower risks.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR
💳 Minimum Deposit400 NGN or an equivalent to $1
💳 Maximum Deposit1,000,000 NGN or an Equivalent to $3,000
📈 Maximum Leverage offered1:1000
💰 Commissions chargedNone
🚀 Instruments available on this AccountForex
💰 Bonuses offeredWelcome, Energy, Hot, Dynamic
📊 Position Size for the Account10,000 USD
📊 SwapsNo, Fixed
📈 Average SpreadsEUR/USD – 2 pips
USD/CHF – 2 pips
NZD/USD – 3 pips
USD/CAD – 3.5 pips
USD/ZAR – 48 pips
🔎 Forex Copy-trading offered
None

Profi STP Account

👉 This is an advanced account that is aimed at maximizing traders’ profit potential.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP, ZAR
💳 Minimum Deposit207,000 NGN or an equivalent to $500
💳 Maximum DepositUnlimited
📈 Maximum Leverage offered1:2000
💰 Commissions chargedYes, from 0.013%
🚀 Instruments available on this AccountAll, except ETFs
💰 Bonuses offeredWelcome, Energy, Hot, Dynamic
📊 Position Size for the Account10,000 USD
📊 SwapsNo, Fixed
📈 Average SpreadsEUR/USD – 0.1 pips
XAU/USD Spot – 0.1 pips
AAPL_NS – 0.1 pips
Brent Crude Oil (BRT) – 2.5 pips
SPX – 13 pips
NAS100 – 13 pips
🔎 Forex Copy-trading offered
None

Crypto Account

👉 This account is designed to cater specifically to cryptocurrency trading.

Account FeaturesValue
💰 Account Base Currency OptionsUSD
💳 Minimum Deposit41,000 NGN or an equivalent to $100
💳 Maximum DepositUnlimited
📈 Maximum Leverage offered1:10
💰 Commissions chargedYes, from 0.75%
🚀 Instruments available on this AccountForex Major, Crypto
💰 Bonuses offeredWelcome, Energy, Hot, Dynamic
📊 Position Size for the Account10 BTC
📊 SwapsNo, Fixed
📈 Average SpreadsEUR/USD – 2 pips
BTC/USD – 190 pips
ETH/USD – 50 pips
BCH/USD – 15 pips
LTC/USD – 15 pips
DOGE/USD – 20 pips
XRP/USD – 1 pip
🔎 Forex Copy-trading offered
None

ECN Standard Account

👉 This provides traders with the basic account features but the benefit of ECN execution.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP
💳 Minimum Deposit41,000 NGN or an equivalent to $100
💳 Maximum DepositUnlimited
📈 Maximum Leverage offered1:1000
💰 Commissions chargedBetween $8 to $10 on Forex
🚀 Instruments available on this AccountForex, CFDs, Precious Metals, Indices, ETFs, Futures
💰 Bonuses offeredWelcome, Energy, Hot, Dynamic
📊 Position Size for the Account100,000 USD
📊 SwapsIncluded, Variable
📈 Average SpreadsEUR/USD – 0.0 pips
XAU/USD – 0.0 pips
XAG/USD – 0.0 pips
AAPL – 0.0 pips
NAS100 – 0.0 pips
🔎 Forex Copy-trading offered
None

ECN Standard Mini Account

👉 This is an ideal account for traders who want to test their trading strategies in live market conditions with reduced risks.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP, NZD, TZS, UGX, GHS, KES, MYR, BRL, NGN, ZAR
💳 Minimum Deposit400 NGN or an equivalent to $1
💳 Maximum DepositUnlimited
📈 Maximum Leverage offered1:1000
💰 Commissions chargedNone
🚀 Instruments available on this AccountForex, CFDs, Precious Metals, Indices, ETFs, Futures
💰 Bonuses offeredWelcome, Energy, Hot, Dynamic
📊 Position Size for the Account10,000 USD
📊 SwapsIncluded, Variable
📈 Average SpreadsEUR/USD – 0.0 pips
XAU/USD – 0.0 pips
XAG/USD – 0.0 pips
AAPL – 0.0 pips
NAS100 – 0.0 pips
🔎 Forex Copy-trading offered
None

ECN Swap-Free Account

👉 This is a standard ECN Islamic account for Muslim traders.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP
💳 Minimum Deposit41,000 NGN or an equivalent to $100
💳 Maximum DepositUnlimited
📈 Maximum Leverage offered1:1000
💰 Commissions chargedBetween $10 on Forex Majors and $40 on Energies
🚀 Instruments available on this AccountForex, CFDs, Precious Metals, Indices, ETFs, Futures, Energies
💰 Bonuses offeredWelcome, Energy, Hot, Dynamic
📊 Position Size for the Account100,000 USD
📊 SwapsNo, Variable
📈 Average SpreadsEUR/USD – 0.0 pips
XAU/USD – 0.0 pips
XAG/USD – 0.0 pips
XBR/USD – 0.0 pips
XTI/USD – 0.0 pips
AAPL – 0.0 pips
NAS100 – 0.0 pips
🔎 Forex Copy-trading offered
None

ECN Swap-Free Mini Account

👉 This account caters especially for Muslim Nigerian traders who are just starting their trading journey, providing them with competitive trading conditions and ECN execution.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP
💳 Minimum Deposit400 NGN or an equivalent to $1
💳 Maximum DepositUnlimited
📈 Maximum Leverage offered1:1000
💰 Commissions chargedBetween $10 on Forex Majors and $40 on Energies
🚀 Instruments available on this AccountForex, CFDs, Precious Metals, Indices, ETFs, Futures, Energies
💰 Bonuses offeredWelcome, Energy, Hot, Dynamic
📊 Position Size for the Account10,000 USD
📊 SwapsNo, Variable
📈 Average SpreadsEUR/USD – 0.0 pips
XAU/USD – 0.0 pips
XAG/USD – 0.0 pips
XBR/USD – 0.0 pips
XTI/USD – 0.0 pips
AAPL – 0.0 pips
NAS100 – 0.0 pips
🔎 Forex Copy-trading offered
None

ECN Crypto Account

👉 This account only offers crypto trading with the benefit of ECN execution.

Account FeaturesValue
💰 Account Base Currency OptionsUSD
💳 Minimum Deposit41,000 NGN or an equivalent to $100
💳 Maximum DepositUnlimited
📈 Maximum Leverage offered1:10
💰 Commissions chargedYes, from 0.6%
🚀 Instruments available on this AccountForex Major, Crypto
💰 Bonuses offeredWelcome, Energy, Hot, Dynamic
📊 Position Size for the Account10 BTC
📊 SwapsNo, Variable
📈 Average SpreadsEUR/USD – 0.0 pips
BTC/USD – 0.0 pips
ETH/USD – 0.0 pips
BCH/USD – 0.0 pips
LTC/USD – 0.0 pips
DOGE/USD – 0.0 pips
🔎 Forex Copy-trading offered
None

Demo Account

superforex demo account

👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital. 

👉 There is a certain degree of risk involved when trading financial markets and SuperForex offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.

👉 The details that Nigerian traders can expect from the SuperForex Demo Account include:

➡️️​ Account base currency between USD and EUR

➡️️​ Minimum virtual deposit of 500 USD

➡️️​ A maximum virtual deposit of 50,000 USD

➡️️​ Minimum trade size of 0.01 and a maximum trade size of 100 USD

➡️️​ Maximum leverage up to 1:1000

➡️️​ Access to swaps

➡️️​ Fixed spreads offered on the demo account

Islamic Account

Superforex islamic account

👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.

👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.

👉 SuperForex offers the following designated Islamic Swap-Free Accounts to Muslim Nigerian traders:

➡️️​ STP Swap-Free Account

➡️️​ ECN Swap-Free Account

➡️️​ ECN Swap-Free Mini Account

Account Registration

👉 It only takes a few minutes for traders to register an account with SuperForex. Traders can visit the official website of SuperForex where they can select the option to register. They can then complete a short online application, providing them access to the web-based platform and the new trading account.

👉 From here, traders can complete their registration and upload the necessary documents to verify their identity and proof of residence. Once this has been verified, traders can fund their accounts and start trading.

How to Register an Account on Plus500

1. Step 1:  Start-Process.

In order for the applicant to start the process, they can simply click on the “Open Account” button located at the top, right-hand side of the webpage.

SuperForex Account 1

2. Step 2: Accept Agreement

The next step is to accept the Public Offer Agreement.  Applicants must make sure that they fully understand what they are agreeing to before they continue.

SuperForex Account 2

3. Step 3: Complete Registration

The third step in the account application process is to complete a short, simple registration form.  Once the registration form has been completed, the applicant can simply click “Open Account” to complete it.

SuperForex Account 3SuperForex Account 4

The Trader will now be met with a Welcome message, congratulating them on registering their brand new SuperForex live trading account.  The trader can now click on Continue to take a look around.

SuperForex Account 5SuperForex Account 6

SuperForex Vs Alpari VS AvaTrade – Broker Comparison

SuperForexAlpariAvaTrade
⚖️ RegulationNoneFSCCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA
📱 Trading PlatformMetaTrader 4
SuperForex App
MetaTrader 4
MetaTrader 5
• AvaTradeGO
• AvaOptions
• AvaSocial
• MetaTrader 4
• MetaTrader 5
• DupliTrade
• ZuluTrade
💰 Withdrawal FeeYesYesNo
📊 Demo AccountYesYesYes
📈 Minimum Deposit400 NGN1,000 NGN41,500 NGN
📈 Leverage1:2000Up to 1:10001:400
📊 SpreadFrom 0.0 pipsFrom 0.4 pipsFixed, from 0.9 pips
💰 CommissionsFrom 0.013%$1.5None
✴️ Margin Call/Stop-Out30%/40%60% and 40%25%/10%
✴️ Order ExecutionMarket, InstantInstant and MarketInstant
💳 No-Deposit BonusYesNoNo
📊 Cent AccountsYesNoNo
📈 Account TypesStandard Account
Swap-Free Account
No Spread Account
Micro Cent Account
Profi STP Account
Crypto Account
ECN Standard Account
ECN Standard Mini Account
ECN Swap-Free Account
ECN Swap-Free Mini Account
ECN Crypto Account
• Forex Standard Account (MT4)
• Forex Micro Account (MT4)
• Forex ECN Account (MT4/5)
• Forex Pro Account (MT4)
• Retail Investor Account
• Professional Account
⚖️ CBN RegulationNoNoNo
💳 NGN DepositsYesYesNo
📊 Nigerian Naira AccountYesYesNo
👥 Customer Service Hours24/524/524/5
📊 Retail Investor Accounts1141
☪️ Islamic AccountYesYesYes

SuperForex Trading Platforms

SuperForex MT 4

👉 SuperForex offers the following trading software that can be used to connect Nigerian traders to global financial markets:

➡️️​ MetaTrader 4

➡️️​ SuperForex App

Desktop Platforms

➡️️​ MetaTrader 4

👉 In terms of reliability and innovation, the MetaTrader 4 platform provided by SuperForex is the best available. MetaTrader 4 is the trading platform of choice for professionals. Fast and accurate brokerage services are provided to clients in the FX and CFD markets using this platform.

WebTrader Platforms

➡️️​ MetaTrader 4

👉 MetaTrader 4 offers a wide range of charting capabilities, indicators, analysis, and more, which can be accessed using any web browser. Any online browser and any operating system (Windows, Mac, Linux) can use the MetaTrader 4 web platform to trade Forex. Simply log into a trading account and begin trading in just a few seconds.

👉 Because it is an integral element of the desktop platform, the MetaTrader 4 web client offers all the benefits of the native client. Web platform stability and interoperability with the MetaTrader 4 ecosystem are ensured as a result. Encrypted data is sent and received securely via the application.

Trading App

➡️️​ SuperForex App

➡️️​ MetaTrader 4

👉 To keep up with today’s fast-paced financial markets, SuperForex built a range of mobile apps to keep Nigerian traders always linked to their trading profession so that they can make lightning-fast trading choices.

👉 Whether traders want to check on existing trades or open or close new ones, the SuperForex app development team’s applications are here to deliver a comprehensive trading experience right from any mobile device.

👉 The MetaTrader 4 mobile apps are available for iOS and Android-powered smartphones and tablets, allowing users to trade on the financial markets. As with the desktop version, the mobile apps contain interactive quotes, complete trading orders and the most popular analytical tools.

Overall Rating

Min Deposit

USD 1 / 415 NGN 

Regulators

IFSC

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

300

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Range of Markets

Superforex range of markets

👉 The range of Markets that Nigerian traders can expect include:

➡️️​ Forex

➡️️​ Precious Metals

➡️️​ Stocks

➡️️​ Indices

➡️️​ Cryptocurrencies

➡️️​ Commodities

➡️️​ Energies

➡️️​ ETFs

➡️️​ Futures

➡️️​ CFDs

SuperForex Broker Comparison for Range of Markets

SuperForexRoboForex

LiteFinance
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesNoYes
➡️️​ ETFsYesNoNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyYesYesYes
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesNoYes
➡️️​ BondsNoNoNo

Trading and Non-Trading Fees

Superforex trading fees

Spreads

👉 The spreads that traders can expect from SuperForex will depend on the financial instrument that they trade, the market conditions when they trade, and the financial instrument that is being traded. SuperForex offers a comprehensive breakdown of all the spreads that traders can expect according to their account type.

👉 The average spreads that SuperForex charges on EUR/USD per the account type are as follows:

➡️️​ Standard Account – Fixed, 2 pips

➡️️​ Swap-Free Account – Fixed, 2 pips

➡️️​ No Spread Account – Fixed, 0.1 pips

➡️️​ Micro Cent Account – Fixed, 2 pips

➡️️​ Profi STP Account – Fixed, 0.1 pips

➡️️​ Crypto Account – Fixed, 2 pips

➡️️​ ECN Standard Account – Variable, from 0.0 pips

➡️️​ ECN Standard Mini Account – Variable, from 0.0 pips

➡️️​ ECN Swap-Free Account – Variable, from 0.0 pips

➡️️​ ECN Swap-Free Mini Account – Variable, from 0.0 pips

➡️️​ ECN Crypto Account – Variable, from 0.0 pips

Commissions

superforex commisions

👉 SuperForex charges commissions on certain account types and financial instruments. While most accounts are commission-free, the following accounts can expect commission charges:

➡️️​ No Spread Account – form 0.017%

➡️️​ Profi STP Account – from 0.013%

➡️️​ Crypto Account – from 0.75%

➡️️​ ECN Standard Account – Between $8 to $10 on Forex

➡️️​ ECN Swap-Free Account – Between $10 on Forex Majors and $40 on Energies

➡️️​ ECN Swap-Free Mini Account – Between $10 on Forex Majors and $40 on Energies

➡️️​ ECN Crypto Account – From 0.6%

Overnight Fees, Rollovers, or Swaps

Superforex no fees program

👉 SuperForex charges overnight fees on certain accounts and only on different forex pairs. The average overnight fees that Nigerians can expect according to some of the supported forex pairs are as follows:

➡️️​ EUR/USD – a long swap of -0.018 and a short swap of 0.006

➡️️​ USD/CAD – a long swap of -0.29 and a short swap of 0.18

➡️️​ AUD/CHF – a long swap of 0.52 and a short swap of -0.63

➡️️​ CHF/JPY – a long swap of -0.06 and a short swap of -0.06

➡️️​ USD/ZAR – a long swap of -1.115 and a short swap of 0.545

Deposit and Withdrawal Fees

👉 SuperForex does not charge any deposit fees, but the following withdrawal fees are charged:

➡️️​ Bank Transfers (All) – 3% along with 35 USD

➡️️​ Bank Transfers (ZAR) – from 1.4% to 3.8%

➡️️​ Bank Transfer (IDR, MYR, THB, VND) – 3%

➡️️​ Bank Transfer (BRL, MXN) – 5$

➡️️​ Credit and Debit Card – 3% + 10 USD

➡️️​ UnionPay – 3%

➡️️​ Skrill – 1 USD if amount less than 50 USD, 1.5% if amount more than 50 USD

➡️️​ Neteller – 2%

➡️️​ Sticpay – 2.5% + $0.3

➡️️​ Triv, Fasapay, and Perfect Money – 0.5%

➡️️​ OnlineNaira – 2%

➡️️​ BitWallet – 4%

➡️️​ AstroPay – 5%

➡️️​ MPesa, Airtel, MTN – 3%

➡️️​ Crypto Wallets – 5%

➡️️​ Local Payments – Local Bank Wire Fees

Deposits and Withdrawals

Superforex deposits and withdrawals

👉 SuperForex offers the following deposit and withdrawal methods:

➡️️​ Bank Transfers

➡️️​ Credit Card

➡️️​ Debit Card

➡️️​ Skrill

➡️️​ Sticpay

➡️️​ Neteller

➡️️​ Triv

➡️️​ Fasapay

➡️️​ Perfect Money

➡️️​ OnlineNaira

➡️️​ BitWallet

➡️️​ AstroPay

➡️️​ MPesa

➡️️​ Airtel

➡️️​ MTN

➡️️​ Vodacom

➡️️​ Zamtel

➡️️​ Crypto Wallets

➡️️​ Local Payments

➡️️​ SuperForex Money

How to Deposit Funds with SuperForex

👉 To deposit funds, Nigerians can follow these steps:

➡️️​ Log into the Client’s Cabinet

➡️️​ Select the account that must be funded

➡️️​ Navigate to “Financial Operations” on the lefthand side and select the option to “Deposit Money”

➡️️​ A page will load, displaying all the supported payment methods that can be used

➡️️​ Once traders have decided on their deposit method, they can click on the green “Deposit” button to proceed

➡️️​ A more detailed overview of the payment method that traders selected will open and traders can provide the amount to deposit in the “Deposit Details” fields, followed by clicking on “Deposit Money”

➡️️​ Traders will be redirected to the relevant webpage for the payment method that they selected to complete the transaction

How to Withdraw Funds with SuperForex

👉 To withdraw funds, Nigerian traders can follow these steps:

➡️️​ To withdraw funds, traders can log into their Client’s Cabinet and select “Money Withdrawal”

➡️️​ Traders will be redirected to the page where they will find the supported withdrawal methods

➡️️​ To use a withdrawal method, traders can click on the “Withdraw” button which will redirect them to an information page about the payment method

➡️️​ Here, traders can enter their withdrawal amount and they can select “Withdraw Money”

➡️️​ Traders will be redirected to the relevant webpage where they can complete their withdrawal through the selected payment method.

Education and Research

Superforex education

👉 SuperForex offers the following Educational Materials:

➡️️​ Training Centres

➡️️​ Seminars

➡️️​ Educational Videos

➡️️​ Glossary

➡️️​ Pattern Graphix

👉 SuperForex offers Nigerian traders the following Research and Trading Tools:

➡️️​ Technical Analysis

➡️️​ Economic News

➡️️​ Fundamental Analysis

➡️️​ Video Analysis

➡️️​ Weekly Review

Bonuses and Promotions

SuperForex Bonuses

👉 SuperForex offers the following bonuses, contests, and Promotions:

➡️️​ Welcome Bonus of 50% with every deposit

➡️️​ 300% hot Bonus when traders deposit $100 or more

➡️️​ An Easy Deposit Bonus of up to 3,000% on all deposits up to $750

➡️️​ A no-deposit bonus of $88

➡️️​ 60% Energy Bonus on each deposit made

➡️️​ Gold Rush Contest

➡️️​ Bitcoin Mania Contest

➡️️​ Auto Reset Balance offer

➡️️​ Interest Rate on Equity Offer

➡️️​ Membership Club Promotion

➡️️​ Account Packages Promotion

SuperForex Affiliate Program

Superforex partnership program

👉 As part of the SuperForex Affiliate and Partnership Program, the broker provides clients with the chance to grow their own company by suggesting comprehensive trading services to their connections. SuperForex rewards its partners with a generous bonus for each new customer they bring on board.

👉 When Nigerians become SuperForex partners, they will have access to many different tools and resources, including a pre-built website for their company, a variety of eye-catching promotional materials, and an affiliate link that allows affiliates to keep track of all their partner data.

How to Sign Up for the SuperForex Affiliate Program

👉 Step 1 – Go to superforex.com 

➡️ Go to the official SuperForex website at www.superforex.com

SuperForex Landing Page

👉 Step 2 – Go to the Partner option in the menu

➡️ Go to “Partner” in the menu and click on “Partnership program”.

Superforex partnership program sign up

👉 Step 3 – Click on “become a partner”

➡️ Click on the “become a partner” button and fill out your details. 

Superforex partnership program become a partner

SuperForex Social Responsibility

👉 Although SuperForex has established itself as a worldwide leader in the financial brokerage industry, the broker chooses to put its success to good use. The broker is not oblivious to the plight of the world’s people.

 

👉 Subsequently, SuperForex makes every effort to collaborate with business partners and donate their time, energy, and resources to non-profit organizations that aid the less fortunate across the globe. Some of the projects that SuperForex has participated in include:

 

➡️️​ Christmas Giving 2021 where various goods and supplies were distributed in Lagos, Nigeria.

➡️️​ Supporting 2 orphanages in Indonesia during Ramadan in 2021.

➡️️​ Helping children in orphanages in Songea, Tanzania in 2021.

Verdict on SuperForex

👉 Traders can choose from a wide variety of trading instruments at SuperForex, all of which come with zero, fixed, or floating spreads. SuperForex offers a wide range of tradable instruments and a selection of trading accounts that suit every type of trader.

 

👉 For beginners, SuperForex is a good choice, thanks to its wide selection of order execution methods, cheap minimum deposit, promotions, and instructional material. However, its lack of regulation is a concern that could jeopardize client fund security, even if the broker claims that it keeps funds in segregated accounts and applies the necessary protections.

SuperForex Pros and Cons

✔️ Pros❌ Cons
SuperForex offers eleven account types with varying trading conditions and featuresUnregulated
The minimum deposit requirement is very lowMetaTrader 5 is not offered
There are several convenient deposit and withdrawal options, and Nigerians can use local optionsLimited trading tools provided
Nigerians have access to Naira-denominated trading accounts
There are a few trading tools and educational materials offered
There are Islamic accounts offered
There is a demo account provided
Traders can register managed accounts which are managed by SuperForex Bank

Frequently Asked Questions

 

Is Superforex regulated?

Superforex Ltd is the owner of  Superforex.  Superforex Ltd is an offshore company who is registered in Belize and regulated by the International Financial Services Commission (IFSC).

 

Which platforms are supported by SuperForex?

SuperForex provides the popular MT4 trading platform

 

Does SuperForex offer a demo account?

Yes, Superforex does have a demo account option

 

Is SuperForex a recommended forex trading broker for experts and beginners?

SuperForex offers a fair trading environment for most types of traders.

 

What is the overall rating out of 10 for SuperForex?

The overall rating of Superforex is 6/10.

9.3/10 - (15 votes)

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