SuperForex

Broker regulationSuperForex carried out by the International Financial Services Commission (IFSC) – an independent government auditor who monitors the compliance of the broker’s activities with international legislation. In 2016, the IFSC tightened its counterparty capital requirements, setting a minimum threshold of $500,000.

Every year, the auditor conducts an audit of the broker, confirming that the company meets all necessary requirements. Clients and interested parties can independently verify a firm’s regulation through IFSC registries.

There are no scanned copies of the license on the official website of the counterparty. IFSC is far from the most reputable auditor when compared with CySEC or FCA. Offshore kitchens often use its licenses.

According to the administration, SuperForex is a member of the Investor Compensation Fund, which provides compensation to investors who have suffered losses due to the insolvency of their broker. As part of ICF membership, the counterparty undertakes to protect clients’ investments and provide compensation in the event of insolvency. The maximum amount of coverage is 20 thousand euros. There is not a single documentary evidence of the establishment of a compensation fund by the broker

Fraudsters supplement a very shaky legend with rather abstract advantages:

• anti-money laundering;
• provision of services in accordance with international legal requirements governing financial services;
• insurance of funds for guaranteed payments to all clients;
• ensuring the safety and security of client funds.

These are not benefits, but responsibilitiesSuperForex official website literally filled with such nonsense that has nothing to do with brokerage services.

The real picture is that traders are distrustful of the brokerage firm. This is due to the lack of a license from the Central Bank of the Russian Federation, which creates additional non-trading risks for Russians. Sharaga operates illegally in most jurisdictions.

Terms of trading with broker SuperForex

Sharaga offers its clients a wide range of services and opportunities for trading in financial markets. The main platform is MetaTrader 4, widely known for its reliability, convenience and analytical capabilities.

Clients can choose from a variety of trading account types, including standard accounts with fixed spreads and minimum deposits of just $1, making them accessible to a wide range of traders. For more experienced clients, Profi-STP accounts have been created, which are characterized by the absence of swaps or spreads and higher trading volumes. ECN accounts are also available, providing faster order execution and accurate quotes thanks to a direct connection to the electronic communications network.

SuperForex actively develops additional investment offers: the Forex Copy program allows you to copy transactions of successful traders. This offer is especially useful for new traders who want to learn the strategies of experienced colleagues. The company offers a deposit insurance program that protects customer deposits in case of unforeseen market situations. We previously found out that it does not work.

Key trading parameters:

• minimum deposit: from 1 US dollar;
• leverage: up to 1:1000 for standard accounts and up to 1:3000 for Profi-STP accounts;
• bonuses: a variety of programs, including a 100% welcome bonus and no deposit bonuses for beginners;
• spreads: fixed on standard accounts and floating on ECN accounts;
• additional commissions: absent on Profi-STP accounts, swaps available on ECN accounts.

Abnormally high leverage is direct evidence of illegal activitySuperForex investments Such platforms never pay off. The bonus program is also exploited by scammers solely to defraud novice traders of money. When it comes to cashout, the company blocks the withdrawal, justifying its decision as a violation of the bonus wagering conditions.

SuperForex exposure – the broker will not pay anything

Sharaga was registered in 2013 in Belize, which is an offshore zone. This raises some suspicions, as such jurisdictions are often used by financial fraudsters to evade regulations and taxes. Despite being registered offshore, the companySuperForex received IFSC license. However, it is not considered reliable enough compared to stricter regulators such as the FCA or CySEC.

Users note that the site is overloaded with information, difficult to navigate, and poor-quality translation of pages, which makes it difficult to understand trading conditions and use the platform. Customer reviews point to ineffective customer service, which is down most of the time despite having various communication channels.

Scam offers various types of trading accounts, including STP and ECN accounts. However, customer reviews indicate a lack of transparency and reliability of trading conditions. Some traders point to fraud on the part of the broker using bonuses and various promotions.

The office offers many methods for depositing and withdrawing funds, but users complain about systematic delays and problems with cashout.

Review proves incompetenceSuperForex personal account For trading, it’s still better not to open it here. The office is experiencing big problems with service. Investors should give preference to legal companies with official regulation in the Russian Federation.