Superforex regulation

Think of the compensation for your lost deposit as a bonus. You can trade on these funds freely.

Huge forex bonuses

Deposit Protection Program, superforex regulation.

If you make a deposit that is equal to or greater than the amount of the refund (in the account that received the compensation), then your bonus will be around to use for a longer period. If you do not make any deposits on top of your refund, then the compensation will expire in 30 days and all trading results on that account will be cancelled. Our deposit protection program is a special feature which allows you to insure your deposit before opening a deal and claiming back its full amount as a bonus if you suffer a loss. All customers with all types of accounts are eligible for this service. This program is time-specific and depends on the amount of your deposit. In other words, the bigger your deposit is, the longer it can stay protected. The duration of the protection is as follows:

Deposit protection program

Save your money

About deposit protection

Our deposit protection program is a special feature which allows you to insure your deposit before opening a deal and claiming back its full amount as a bonus if you suffer a loss. All customers with all types of accounts are eligible for this service. This program is time-specific and depends on the amount of your deposit. In other words, the bigger your deposit is, the longer it can stay protected. The duration of the protection is as follows:

from $50 to $100	1 day deposit protection
from $101 to $500	5 days deposit protection
from $501 to $1000	10 days deposit protection
from $1001 to $5000	14 days deposit protection
above $5001	20 days deposit protection

You can extend the period of deposit protection by making a new deposit before the initial protection expires, as long as the new deposit has a longer protection than the first one.

Advantages of the deposit protection program:

100% deposit protection of losses

No limit on the amount of protection

No hidden commissions

You have a margin of error

How does it work?

If during the period when the deposit protection is active (specified above) you happen to lose more than 90% of your deposit funds, we would refund them to you as bonus funds. To claim this refund you should contact our support team via email, and they will process your request within three (3) business days. The refund can be credited in USD only and you need to open a new account in USD where you would receive your compensation. Please note that if the loss happened past the duration of the protection program or if it is less than 90% of the deposit amount, then this policy does not apply and we cannot refund your deposit.

The refund

Think of the compensation for your lost deposit as a bonus. You can trade on these funds freely. If you make a deposit that is equal to or greater than the amount of the refund (in the account that received the compensation), then your bonus will be around to use for a longer period. If you do not make any deposits on top of your refund, then the compensation will expire in 30 days and all trading results on that account will be cancelled.

The compensation applies only to your deposits. It does not account for bonuses or profit earned.

If you are eligible for a compensation but you have already received one for an older deposit, the old one will be cancelled so that you may use the new one.

Terms and conditions

* the company has the right to refuse to pay compensation in the following cases:

1. If the client systematically violates the rules of the user agreement during the active period of the deposit protection program.

2. If during the last 30 days there have been two or more violations of the user agreement by this client.

3. If more than 70% of the closed deals on the client’s account within the last 90 days have had negative results.

4. If the customer has one or more of these bonuses on their account: no deposit bonus, easy deposit bonus, point bonus. These are not compatible with the deposit protection program.

Forex education

Learn how to trade: full course

Forex education for beginners

When you first stumble upon forex trading, you might be overwhelmed by all of the different types of charts, indicators, strategies, and even the sheer amount of trading instruments available. The forex world is indeed wide and complicated.

To help you navigate it better, we offer free forex education to all of our traders. Superforex has put forward a collection of educational materials that cover all the important trading basics to get you started. You can learn to trade at your own pace and go from a newbie to a forex master in no time thanks to our educational materials.

Forex education videos

We recommend that all beginner traders start with our series of educational videos about forex trading. Our video series make the best starting point because they are short yet informational. In just a few minutes per day, you can gain a good grasp on a variety of topics related to trading.

Training lectures

If you care to go more in-depth into a particular topic that you struggle to understand or want to learn more about, our online forex course might be a better option. The course consists of eight lectures that cover the most fundamental concepts in forex trading in great detail.

Though more time-consuming than our video series, this is arguably the best way to learn forex on your own. If you are patient, take notes, and complete the exercises at the end of each lecture, you will be ready to tackle anything the forex market throws at you.

The work of the international currency market

The basic principles of the market, market participants, currency pairs and quotes, indicators, terms and conditions of trade and transactions - the key concepts and terms.

Trading platforms and client terminals

Differences in software: speed and performance, functionality and convenience of the interface, compatibility and security.

Technical and fundamental analysis

The differences and conditions of these types of analysis.

The basics of graphic analysis

Levels, lines, trends, channels, shapes, candlesticks, waves.

Mathematical analysis

Trend indicators and oscillators.

News analysis

Features of the trading methods based on news.

Trading strategies and systems

Types, principles of formation, and evaluation of effectiveness.

Automation of trading

Signal providers on the currency market, expert advisors and algorithm programming, testing and optimization of trading systems.

Master the forex market

Thanks to superforex, everyone has access to good trading education online. With our support and advice, there is nothing stopping you from becoming a successful trader.

You can begin your journey by opening a superforex trading account. Simply fill in the form below.

Superforex regulation

Вы можете попробовать работу всех сервисов компании superforex, открыв полноценно функционирующий демо-счет. Этот тип счета отлично подходит, чтобы попробовать на практике существующие торговые стратегии и создать свою. Однако вы не сможете получить реальную прибыль с демо-счетом. Когда вы будете готовы торговать реальными деньгами, вы сможете открыть реальный счет.

Компания superforex - это международный биржевой брокер, лицензированный комиссией по международным финансовым услугам (IFSC). Мы предоставляем финансовые и инвестиционные услуги высшего качества частным и корпоративным клиентам, обеспечивая доступ к более 100 рынкам европы, азии и ближнего востока. Мы предлагаем клиентам большой выбор финансовых инструментов для алгоритмической или самостоятельной торговли, управления капиталом и инвестициями. Наша высокообразованная и опытная команда профессионалов, преданных своему делу, занимается постоянным усовершенствованием и развитием услуг компании superforex.

Профессиональные услуги, инновации в технологиях, открытость и лояльность - это лишь некоторые из причин выбора наших клиентов. Наша страсть и преданность своему делу и индустрии, то что отличает нас от наших конкурентов. В компании superforex мы стремимся к разработке и реализации первоклассных технологий для обеспечения высокого уровня услуг, который способен удовлетворить даже самых требовательных клиентов. Мы осознаем важность ведения бизнеса в безопасной и стабильной среде, поэтому вся наша деятельность основана на прозрачности и честности. Мы предоставляем нашим клиентам большой выбор финансовых услуг и инвестиционных продуктов для успешной торговли и предлагаем различные ее варианты, для удовлетворения потребностей как частных, так и корпоративных клиентов.

Мы, в компании superforex, знаем ценность денег; мы знаем также, как важны они для трейдеров. Поэтому мы разработали систему безопасности, благодаря которой у клиентов есть уверенность в том, что их депозиты будут доступны только им. Клиенты могут выбрать среди большого количества безопасных платежных систем, наиболее удобную для себя. Наш сайт использует SSL сертификат, который обеспечивает сохранность ваших данных. Ваши деньги защищены благодаря нашей политике сегрегированных счетов. Кроме того, мы предлагаем программу страхования депозита, которая позволяет трейдерам хеджировать инвестиции от убытков.

Superforex review

Superforex is an online forex broker that is located in belize. They offer traders over 300 trading instruments for trading online via the popular metatrader 4 platforms. Despite the broker offering multiple account types, high leverage and a social trading platform, the regulation is not ideal and thus we would take great caution and prefer to use a broker with more regulation.

Superforex review, pros & cons

Managed accounts via superforex bank

Social trading via forex copy

Multiple trading tools & training resources

Offshore regulation not ideal

Clients from USA are not accepted

No proprietary platforms or other choices apart from MT4

Spreads not the lowest

In this detailed superforex review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

Superforex is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including justforex.

Superforex review: summary

Superforex is a broker with a goal to exceed customers’ expectations by providing quality and innovative online trading services. Founded in 2013, superforex is a global brokerage that offers over 300 forex and CFD instruments for trading online via the MT4 trading platform. The broker operates from belize where it is registered and regulated by the relevant authorities. It also has other subsidiaries around the globe. Superforex boasts of over 200,000 clients from 150 countries. The official website is available in 13 languages. The broker features competitive spreads, high leverage and low minimum deposit. Despite this, the regulation is lacking and we would prefer a broker that has regulation from an EU, australian or US authority.

Superforex review: broker features

Superforex states that it is a ‘no dealing desk’ (NDD) broker that has partnered with premium liquidity providers (lps). Some of the lps mentioned are citibank, UBS, BNP PARIBAS, NATIXIS, etc. These lps are responsible for the prices that superforex streams on its platforms on desktop and mobile. In its execution policy document, superforex states that it is the sole execution venue for all orders and acts as principal to all client orders.

Aside forex and CFD trading, superforex is committed helping the less privileged around the world through its social responsibility programmes. The broker has assisted families, orphanages and helpless people in malaysia, indonesia, thailand, egypt, amongst others.

Superforex is proud to announce that its hard work has been acknowledged by industry experts that have honoured the broker with awards. In 2015, superforex was declared the ‘fastest growing broker’ and in 2016, the broker won the ‘best forex broker’ in the MENA region. Both awards were courtesy of showfxworld; an international financial services organization.

Superforex review: broker awards

Superforex review: regulation

Superforex is authorized and regulated by the international financial services commission (IFSC) of belize. This is not considered by many professionals to be one of the most popular regulators in the brokerage industry.

Superforex states that it uses the ‘segregated funds’ policy which means that it does not use clients’ money for its day to day operations. Clients’ deposits should be safely kept away in separate bank accounts and are only used to fund the trading activities of the clients. Superforex should not use the funds for any other purposes such as business running costs.

To ensure the safety of its clients, superforex has installed a ‘secured socket layer’ (SSL) certificate. This technology protects the communication channel between the clients’ access devices and superforex servers.

To further protect clients’ accounts, superforex recommends that they verify their email and phone number. In its anti money laundering (AML) policy document, superforex states that in order to comply with the anti-money laundering laws, it requires every client to upload a government issued ID card and a utility bill document. This is the compulsory verification that is required during registration of new clients.

Clients have access to view a log-in history on their accounts. The log shows all IP addresses, location, time, operating system and the internet browser used for each login. The aim is for a client to easily detect any login activity that is not from him. Clients can also add all their access devices in the clients’ cabinet. Any device not found in the list will not be able to login to that clients’ account. Additionally, a client can create a list of allowed IP addresses that are authorized to access his account. These functions help to secure clients’ account and shuts off hackers.

Superforex review: countries

Superforex states that its services are not available to residents of the USA. Some superforex broker features and products mentioned within this superforex review may not be available to traders from specific countries due to legal restrictions.

If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers australia, best brokers south africa, best brokers canada or our best brokers for all other countries.

Superforex review: trading platforms

MT4 trading platform

Metatrader 4 (MT4) is a free, popular and professional trading platform that has been adopted by many brokers and traders across the world. The MT4 platform is versatile; it has the webtrader version, windows desktop and mobile app versions for android and ios devices. Already, there are thousands of plugin apps including indicators and automated trading systems developed for the MT4 platform, thus encouraging numerous traders to continue using it.

Here are a few of the MT4 platforms key features:

Fully customisable layouts, interface, charts and windows.

All tradable assets can be displayed on 3 chart styles over 9 timeframes.

It is preloaded with 30 indicators and 24 analytical tools.

Traders can create, test and use automated trading robots called expert advisors (eas) to automate their forex and CFD trading.

Strategy tester to back test eas over historical data.

Supports multiple orders including pending orders and market orders.

Alert notifications via platform pop-ups, emails and SMS.

Superforex review: MT4 trading platform

MT4 mobile trading app

This is the mobile version of the MT4 platform which is available as ios and android apps. The apps can be downloaded from the relevant app stores. The MT4 app has almost all of the same features of the MT4 desktop platform and integrates seamlessly with the MT4 accounts. The mobile trading app is useful for traders who wish to trade whilst on the go.

Here are some of the MT4 mobile trading app features:

The app is user friendly and the appearance, colours and other features are customisable.

Shows the selling and buying prices of all the assets in real time.

Shows the charts of all instruments over 9 timeframes.

The ‘trade’ tab shows all the open trades as well as the account balances in real time.

Multiple order types including ‘market execution’ and pending orders.

Set price alerts via push notifications.

Superforex review: MT4 mobile trading app

Superforex trading cabinet

This is an android app developed by superforex. It integrates with the clients’ cabinet area of the website and also has other features for account analysis and statistics.

Here are some of the primary features of the superforex app:

Manage accounts from the app; create new demo or real accounts.

Fund or withdraw from your accounts right from the app.

View the complete trading history.

View all superforex bonus programs.

Full access to the client support desk.

Superforex review: trading cabinet app

Superforex review: trading tools

Forex copy

Fore copy is the superforex social trading platform where traders are able to automatically copy the trades of other traders known as a ‘master’. This is beneficial to investors and new traders because they can easily copy signals without needing to conduct analysis and follow market news. A master trader can also benefit from the service by receiving commissions on any profits made by their signals. An investor only needs a minimum deposit of $100, then they can choose a master account and start copying trades. Superforex profiles a long list of master accounts and their performance statistics so that a copier can carry out a thorough assessment before settling for a master to copy. It must be strongly emphasised that the past performance of trading signals is by no guarantee an indication of future performance and there are always risks involved with trading online.

Superforex review: forex signals

Market analytics

Technical analysis comes up periodically on the superforex website. The analysis is done on selected forex currency pairs. Several indicators are used to analyse selected charts and are rounded off by giving trading ideas to traders.

The economic news is updated every day on the superforex website. This section includes the market overview as well as the different economic news from several countries especially UK and USA.

Fundamental analysis is updated a few times every week on the website. It is mainly focused on currency pairs, gold and oil.

Video analysis is presented once or twice a week on the superforex website and youtube channel. It is presented by a superforex analyst who uses technical analysis principles and indicators to forecast the possible movement of prices of some major currencies.

‘weekly review’ comes up every friday on the superforex website and youtube channel. It is presented as a video.

Superforex bank

This is superforex managed investment portfolio of cfds, shares and cryptocurrencies. Investors are required to deposit at least $100 within a period of 15 days to 1 year. Commissions are charged on withdrawals and on the investment portfolios. There is no guarantee on the performance of this managed portfolio and all online trading carries a significant element of risk.

Pattern graphix

This is an expert advisor (EA) that is offered free of charge to all clients by superforex. The ‘pattern graphix’ identifies chart patterns and gives the trader suggestions on how to approach the trading of an instrument based on these patterns. The trader still retains control and can choose to ignore or follow the advice of the expert advisor.

Superforex review: education

Trading seminars

Superforex has held several trading seminars in different towns and in different countries. These seminars aim to give traders and prospective clients the opportunity to interact with superforex experts and learn from them. The seminars focus on practical approach to trading which includes key concepts and strategy development. Seminars have been held in cotonou, lusaka, windhoek, kota salatiga, kuching, kenya, lagos, kuala lumpur, port harcourt, samarinda and other cities within africa and asia.

Trading glossary

A glossary of over 200 trading terms along with explanations are provided on the website. This can be useful to new traders who are looking to familiarise themselves with some of the more popular trading terminologies.

Educational videos

There are several videos grouped as ‘our services’ and ‘forex trading’. There are 16 video lessons teaching technical analysis strategies and principles. There are other video tutorials explaining how users can utilize superforex services like forex copy, bonuses, MT4, etc.

Superforex review: trading videos

Superforex review: trading instruments

The following instruments are available for online trading through the superforex trading platforms:

105 forex currency pairs including the major, minor and exotic crosses

10 metals

84 stock cfds

87 futures

19 indices

9 cryptocurrencies

Superforex review: trading accounts & fees

Superforex provides multiple account types to suit the different needs and experience levels of traders. All of the accounts are grouped into either STP or ECN accounts.

The following are the STP account types:

Micro cent account: this account is denominated in USD or EUR cents. The minimum deposit is $1/€1 while the maximum deposit is $3,000/€3,000. The lot size is 10,000 cents and the maximum leverage is 1:1000. The spreads are fixed.

Standard account: the minimum deposit is $1 and the maximum leverage is 1:1000. Spreads are fixed and the lot size is 10,000.

Swap free account: $1 is the least deposit amount while the leverage is capped at 1: 1000. Swap charges are waived on this account and the lot size is 10,000.

No spread account: the minimum deposit is $1,000 and the maximum spread is 1:1000. This account is swap-free and the lot size is 100,000.

Profi STP: this account is only available in USD. The minimum deposit is $5,000 and there no maximum deposits. The maximum leverage is 1:200 and the lot size is 100,000.

Crypto account: the account currency is USD. Even though clients operate the account using cryptocurrencies, the conversion is still displayed. The lot size is 10 BTC and the maximum leverage is 1:10. The minimum deposit is $100 and the account features only fixed spreads.

The ECN accounts are similar to the STP accounts except for a few features. There are no maximum deposits, all spreads are floating and forex copy is not available. The account currencies can be in USD, EUR or GBP except for ECN crypto that is only denominated in USD.

The following are the ECN account types:

ECN standard mini: minimum deposit is $1, lot size is 10,000 and the maximum leverage is 1:100.

ECN standard: minimum deposit is $1, lot size is 100,000 and the maximum leverage is 1:1000.

ECN swap-free mini: minimum is $1, lot size is 10,000 and the max leverage is 1:1000.

ECN swap-free: minimum deposit is $1, lot size is 100,000 and max leverage is 1:1000.

ECN crypto: minimum deposit is $100, lot size is 10 BTC and the max leverage is 1:10.

Demo accounts are available to all clients at no costs. These demo trading accounts can be useful to try the different trading platforms available and to practice your trading strategies.

As broker fees can vary and change, there may be additional fees that are not listed in this superforex review. It is imperative to ensure that you check and understand all of the latest information before you open a superforex broker account for online trading.

Superforex review: broker trading accounts

Superforex review: customer service

The superforex customer support desk is available 24/5 during market hours. They have provided a frequently asked questions (faqs) section for the website visitors to first check for answers to questions they might want to ask. If you wish to receive a call from support desk, then fill the ‘call back’ form available on the website. A support representative will call you at your convenience. The fastest way of getting support is through the instant web chat facility on the website. There are other chat options which are: yahoo messenger, whatsapp, skype, telegram and wechat. You can also receive support by calling the international support help line and also by sending email. On social media, superforex is on facebook, youtube, twitter, linkedin and instagram.

Superforex review: deposit & withdrawal

Superforex has a commitment to localising payments and is still expanding it to different countries. Deposits are free but withdrawal commissions are charged depending on the method used.

The following funding methods are accepted:

Local bank transfers: this method is available to clients in malaysia, indonesia, nigeria, kenya, zimbabwe, namibia and iran. The deposits are processed instantly while withdrawals generally take 1-3 business hours. The transfer is done in the local currencies.

Bank wire transfers: it takes 2-4 business days to process international bank deposits. Withdrawals are charged 3% + $35 and it takes up to 4 business days.

Debit/credit cards: all major credit and debit cards are accepted including visa, mastercard and unionpay. Card deposits are processed immediately. Withdrawal charge is 3% + $7 per withdrawal and the minimum withdrawal is $20. It takes up to 3 business days to completely process a withdrawal.

Electronic payments: deposits are instantly processed while withdrawals can take up to 4 business days to complete. The accepted channels are; skrill, sticpay, neteller, payco, triv, fasapay, perfect money, payeer, online naira, ipay, flutterwave, ngan luong. Withdrawal charges range from 0.5%-3.5% depending on the method used.

Cryptocurrencies: the cryptos accepted are BTC, LTC, DOGE, PPC, DASH, RDD, ZEC and BLK. Deposits are processed instantly while withdrawals take 1-3 hours. A commission of 0.9% is charged on withdrawals.

Superforex money: these are superforex money vouchers denominated in $10, $50, $100, $500 and $1,000 used for making deposits. The broker rewards its voucher users with a discount of 7% on all vouchers. Deposits are credited immediately to the trader’s account. Withdrawals to vouchers take 1-3 working days and no commissions are charged. The vouchers have no expiry dates and no limitations.

Superforex review: broker account funding

Superforex review: account opening

Superforex asserts that it takes only 3 easy steps to open an account and start trading online. First click on the ‘open account’ button found on the top right-hand side of any webpage on the website. On the drop-down list that displays, select ‘trader’, click on the checkbox to agree with the superforex public offer agreement if you agree to it and then click ‘open account’. The client registration form displays.

Superforex review: open brokerage account

Fill the form and click ‘next’ to display the second page of the form. Select the account type, leverage and currency, then, click on ‘open account’. You are automatically logged onto the client cabinet area where you can fund your account, download trading platforms, etc.

Superforex review: conclusion

Superforex is a broker that is out to satisfy its customers. Regulated by the IFSC, the broker states that clients’ accounts are secured and digitally protected. Clients’ funds should be safely kept in segregated accounts.

Superforex offers multiple account types so that every trader can choose what works for them depending on their investment size and trading experience. The broker also offers multiple payment options to accommodate clients from different countries with differing needs.

They allow all trading strategies and traders with small capital are welcome. The metatrader platforms give multiple options for traders and are a popular choice for both beginner and experienced traders.

The provision of market analytics and educational materials further demonstrates the broker’s commitment to supporting traders. Managed portfolios via superforex bank and forex copy are designed for investors and traders who wish to copy or provide trading signals.

Despite this, the IFSC belize regulation is not at par with that of FCA, cysec or ASIC. This is why several industry experts warn traders to avoid such brokers. Although superforex seems to be a genuine and respectable broker, we would proceed with great caution when dealing with this broker. It should also be mentioned that the spreads are not also the tightest when compared to other online brokers.

CFD and FX trading on margin carry high levels of risk. Traders should ensure they understand the risks associated with leveraged CFD and FX trading before deciding to trade.

Min $1 deposit

Superforex is an online forex broker based in belize. They offer over 300 trading instruments for trading via the MT4 platforms. Whilst they have multiple account types, high leverage & social trading, the regulation is not ideal.

Superforex regulation

Самый универсальный счет, который подходит для трейдеров всех уровней.

Swap free счет

Счет без свопов (исламский) аналогичен нашему стандартному счету, но не имеет свопов.

No spread счет

Со сделок, которые вы открываете, не взимаются комиссионные сборы, а полная стоимость транзакции сразу видна.

Micro cent счет

Счет для небольших депозитов, где вам не нужно беспокоиться о больших потерях капитала.

Profi STP счет

Этот счет для профессиональных трейдеров, которые торгуют большими объемами и стремятся получать большую прибыль.

Crypto счет

Этот тип счета предназначен для трейдеров, которые не боятся перемен и двигаются в ногу со временем.

Стандартный ECN счет

Этот счет позволит вам торговать напрямую на рынке форекс со стандартными условиями и по лучшей цене без реквот

ECN standard mini account

You can enjoy all the benefits of a standard account, only with a smaller lot size for more lean trading.

Специальные предложения

Страхование депозита

Вы когда-нибудь беспокоились о том, может ли сделка обернуться против вас и стоить вам вашего депозита? Такого не случится! Superforex разработал инновационную программу страхования вкладов, которая позволяет вам сохранить депозит, даже если что-то пойдет не так.

Forex copy

Сервис forex copy - это уникальное предложение, которое позволяет вам просматривать базу успешных трейдеров и копировать их сделки, чтобы зарабатывать на этом. Forex copy -это настоящий путь к успеху, он сможет сэкономить вам огромное количество часов, которое вы потратите на изучение рынка.

Конкурсы

Приглашаем вас принять участие в захватывающих конкурсах на демо и реальных счетах! Мы проводим как регулярные, так и разовые соревнования для трейдеров. Все демо контесты абсолютно бесплатны, но за небольшую плату вы можете попробовать свои силы в реальных конкурсах с отличными призами.

Bonus program

We offer 6 bonuses for our clients. You can use all our bonuses for more profitable trading. We also have a no deposit bonus for beginners. All earned income from bonus trading is available for withdrawal.

Дистанционное обучение

Чтобы помочь вам лучше познакомиться с торговлей на форекс, superforex подготовил для вас специальный курс дистанционного обучения. По окончании этих лекций вы сможете изучить основы торговли на форекс и стать более опытным трейдером.

Мобильный кабинет

Ваш опыт торговли с superforex теперь может быть более мобильным, чем когда-либо, благодаря нашему мобильному кабинету. С помощью этого приложения вы можете следить за своими сделками и управлять своим счетом со своего мобильного устройства.

SF bank

При использовании свободного капитала для работы и получения прибыли существует множество вариантов, куда можно вложить деньги - одним из них является SF bank. Вы можете инвестировать в различные торговые инструменты (валюты, CFD, металлы и криптовалюты) и получать прибыль.

Superforex regulation

Superforex review + bonus review

There are some brokers out there promising no-deposit bonus and many of them don’t hold to their promise and give you some excuses for that. I think superforex is one of them and their $50 no-deposit bonus is not real.

I registered with them and sent my documents and they verified the documents but they rejected me when I requested the no deposit bonus. So to answer the question, do they give you the no-deposit bonus? My answer is, no supperforex won’t give you the no-deposit bonus, at least according to my experience.

Note: after writing this review, I asked some of my friends to apply for the bonus and they did. They all received the bonus so I think I did something wrong in the registration process. You’ll see that in the following lines.

However; as long as I want this review to be fair, something happened that might cause the rejection. I can’t say that for sure because they don’t give you any reasons for the refusal.

The no-deposit bonus is a welcome bonus that is provided for the new clients of a broker who haven’t registered with them before. It’s the same rule for all the brokers that offer such a bonus.

Most brokers verify this by asking you some documents such as a photo of your passport or any other ID cards, and a proof of address document showing your address and name on it such as utility bills.

This is the same for supperforex broker but they apparently have another verification method which is detecting new clients by their IP address. I’m not really sure if this is an excuse to reject you or a legit one because I think my VPN was on when registered with them so they got a different IP address.

Obviously, they either don’t like VPN or any other types of proxies, or they really don’t give you the no-deposit bonus.

To be honest, I’m not sure the VPN subject is the case because they could have asked me to turn off my VPN so they can detect my location. The customer service seemed very cooperative and solved all my problems, even sped up the process of document verification, until they decided not to allocate the bonus to me.

I didn’t even need such a bonus and it was a case study for writing a series of reviews for this blog about brokers that give no-deposit bonus and I told them that, but they didn’t seem cooperative anymore and bailed out.

If you had the same problem with them and were rejected to receive their no-deposit bonus, you are welcome to write your comment at the bottom of this post.

On the other hand, if you are reading this post because you’ve decided to get the bonus, you can go to their no-deposit bonus page and give it a try. You can also tell others about your experience after that by commenting here.

But before that, make sure to read the following review which contains the rules of superforex no-deposit bonus and their other bonuses along with a summary of the broker.

By the way, if you decide to contact them for your problems, do it through live chat because the email version is not a good option. It seems their customer service works better via live chat. As if people in email supporting section don’t like their jobs very much, however, supporters in the live chat are on their toes.

One more thing, they probably have problems with eas or automated trading so if you want to run an EA, first check with them.

You'll see in this article:

About superforex

Superforex entered brokers’ world in 2013 and has provided service to more than 150 countries since then — they don’t accept clients from the US.

They are a belize-based firm. Belize is a country where a lot of brokers are located because of its taxation system which makes there a tax haven —companies do not pay taxes on earnings from abroad.

They are regulated by IFSC which is not a strong regulation so I think one of their main weak points is their regulation so you should be careful if you decide to open a big account with them.

Other than that, the broker seems to have acceptable conditions. They have several types of accounts and various kinds of payment methods and several bounces, if they’re committed to them of course.

Types of bonuses

Superforex claims to offer 6 types of bounces with different conditions.

Superforex $50 no deposit bonus

As we discussed this one, it’s a $50 welcome bonus given to new clients upon their requests.

Besides what we talked about, there are some rules that you should know before applying for that. Make sure to read them entirely before taking further actions.

Some of the important ones are:

The bounce is not withdrawable but you can withdraw the profits

For being eligible for the bonus, you must send your ID and address information to be verified

The maximum profits that you can withdraw are equal to the bonus — $50.

You have to trade 1 standard lot for every $1 profit you make to be allowed to withdraw that, and the minimum amount you can withdraw is $10. So, you must at least trade 10 lot before withdrawing the profits.

Before withdrawing the profits, they may ask you to write 3 positive reviews about them, really! This is absolutely hilarious and I burst out laughing when I read that for the first time.

You can only withdraw once and after that, the bonus will be canceled. For example, if you make $10 with the rule of 1 lot for each dollar; if you withdraw that $10, you can’t withdraw any other profits if you continue trading afterward because the bonus is canceled.

If you lose the bonus and if you decide to deposit money, make sure to open another account and do not trade with the no-deposit bonus account because that account is already canceled. You’d better talk to them before that.

You can find a complete version of the rules in your cabin after registration. The steps of registration for the no-deposit bonus are on this page.

Superforex double ($100) no deposit bonus

This is an update to this post in 2020 when superforex announces a new no deposit bonus called X2 or double no deposit bonus which becomes $100.

The terms and conditions of superforex double no deposit bonus are similar to the $50 bonus with a few changes.

First off, it’s a $100 bonus instead of $50.

Second, you need to deposit $10 to receive an extra $50. It means you get the first $50 bonus that we talked about earlier and then if you want an extra $50, you only need to deposit $10, so you can trade with $110 — $10 yours, $100 bonus

If you withdraw your $10 after receiving the extra $50, your bonus will be canceled.

The maximum profits that you can gain over this bonus is $110 this time. Considering one lot for every dollar, you need to trade 110 standard lots if you want to release all the $100 bonus and your $10.

Of course, you can withdraw your $10 without meeting the lot condition but as I mentioned before, the no deposit bonus will be removed from your account in this case.

Other conditions are the ones that are explained in the $50 no deposit bonus section.

How to get double no deposit bonus

If you haven’t received the $50 bonus yet, first you have to open an account here.

Then, you need to follow the steps of receiving the $50 bonus which are: verification of your documents, going to the bonus section in your client cabinet and pick the bonus. Then hit the “get the no deposit bonus” button at the bottom of that page.

Next, you need to deposit $10 if you want to get the extra $50, otherwise, you can trade with the $50 no deposit bonus instead of $110.

If you’ve already received the $50 no deposit bonus, just go to your client cabinet and pick X2 no deposit bonus > hit the “get the no deposit bonus” button > deposit $10 and receive another $50.

Dynamic bonus

This one is a deposit bounce so you must deposit some money first and they give you up to 25% of your money, however, it’s not an instant bonus deposited to your account.

Like the no-deposit bonus you have to redeem that by trading 1 lot for every dollar, but this time you are supposed to be given the bonus itself, not just the profit, and the reason is obvious because you are trading with your own money.

As I said, you can receive up to 25% bonus but it varies regarding your deposit. Every time you deposit, you become eligible for this bonus.

From $100 to $500 – the bonus is 20%

From $501 to $1500 – the bonus is 15%

From $1501 to $3000 – the bonus is 10%

Over $3000 – the bonus is 25%

So, for example, if you deposit $100, you can expect to receive $20 but you have to trade 20 lots before all that $20 being released.

Some other rules about this bonus are:

You can open several accounts and the bonus is available for every one of them.

If you withdraw some amount of your profits before reaching the relevant percentage level, they cancel part of the bonus.

This is the formula they use for this purpose:

[(X/Y) * (the amount of the dynamic bonus)] minus [the released amount]
Where:
X = the amount that is requested for withdrawal
Y = the current available balance in the account after the amount of the dynamic bonus has been deducted
And this is the example regarding to that:
For example, you claimed the dynamic bonus and made a deposit of $100 to activate it. According to the chart above, the bonus will be 20% of $100 = $20. In total you have 120$ on your account. Let’s say you make some trades on 2 lots and get to $200, and you want to make a withdrawal of $50. Let’s use the formula to see how much money will be cancelled from your account:
X = $50
Y = 200 – 20 = $180
Released amount = 2 lots = $2
=> the cancelled amount = (50/180)*20 – 2 = $3.55
Other rules are a bunch of conditions that superforex can cancel the bonus at its discretion. You can find the relevant page here.

Easy deposit bonus

It’s a one-time bonus that is supposed to provide better conditions for you as a trader with a small amount of money.

In this type of bonus, you’ll receive 1000% of your initial deposit. For example, if you deposit $10, you’ll receive a $100 bonus but your $10 will be a part of the bonus after that. It means, you have $110 credit to trade and you are only allowed to withdraw the profits, not the $110.

Like the no-deposit bonus, here you need to release the profits by trading lots but the condition is harder than the no-deposit bonus.

For every $1 to be released, you must trade 2 lots. For example, if you want to withdraw $10, you have to trade 20 lots.

Like the dynamic bonus, if you withdraw sooner than you reach the end of the bonus, $110, you lose a proportion of the bonus. The formula using for that is:

(withdrawal amount/bonus profit) * current bonus amount = cancelled funds

For more information, you can check this page.

Welcome+ bonus

It’s a bonus that you can request every time you deposit. The first time you deposit, you receive 40% of your deposit as the bonus. For example, when you deposit $100, you receive $40 as a bonus. The second time you deposit, you receive 45% provided that you deposit $500, otherwise you get the same 40% and your previous 40% bonus is canceled, but if you decide to deposit $500, the first 40% remains intact plus another 45% that you receive from your second deposit.

If you decide to deposit for the third time, you receive a %50 bonus this time, providing that you deposit at least $1000. You can do this three times in a row for each account. The first time you get 40%, the second time you get 45% and the third time you get 50%.

I didn’t see any rules regarding lot size but if you withdraw before you get to the bonus level, for example 40%, some part of your bonus will be canceled according to the following formula.

C = (X/Y) * (the amount of the 40% bonus on the deposit)
Where:
C = cancelled amount
X = the amount that is requested for withdrawal
Y = the current available balance in the account after the welcome+ bonus and other types of bonuses, if available, have been deducted.
For example, you claimed the welcome+ bonus and made first deposit of $100 to activate it. The bonus will be 40% of $100 = $40. In total you have 140$ on your account. Let’s say you make some trades and get to $200 and you want to make a withdrawal of $50. Let’s use the formula to see how much money will be cancelled from your account:
X = $50
Y= 200 – 40 = $160=> C = (50/160)*40 = 12.5
So $12.50 will be cancelled from your account after you make your withdrawal.

I think in the above example, if you want to receive the entire bonus, you have to earn $140 profits (deposit+ bonus).

To see the steps of getting this bonus, you can see this page.

60% energy bonus

In this type of bonus, you can receive a 60% bonus every time you deposit. There’s a long-winded explanation about the profit you can get from this bonus.

I think they intentionally overcomplicate the rules so you don’t understand what you get but what I basically understand from that was, you can just withdraw the profit you gain from your deposit and the bonus is just for helping you to trade with bigger lots.

But all in all, it may come in handy from a money management perspective or psychology angle, however, that’s true if you are a profitable trader but if you can’t make profits, it just speeds up your losses.

120% hot bonus

This bonus is exactly the same as the 60% bonus but you receive more credit this time. Instead of getting 60% of your deposit as a credit, you have 120%.

For example, if you deposit $100, you receive $120 as the bonus so it can make the winning or losing pace even faster.

Compatibility of bonuses

If you decide to use those bounces, you should know that you can’t combine some of them and use them at the same time. On the other hand, some of them can be applied simultaneously.

You can’t use no deposit bonus with other bounces

You can’t use easy deposit with other bounces

Dynamic and welcom+bonus can be used together

%60 energy and %120 hot bonuses can be used together

Superforex overview

In case you’ve decided to give superforex a try, this is an overview of this broker.

Location: belize

On-line since: 2013

Regulation: IFSC

Types of accounts: STP and ECN

Spread: fixed for STP and floating for ECN

Minimum account size: $1

Payment methods: bank wire transfers (in local currencies for 60+ countries), skrill, visa, mastercard, neteller, unionpay, perfect money, QIWI, bitcoin, and more.

Available countries: 150+ excluding the US

MAX leverage: 1:1000

Trading instruments: forex, cryptocurrencies, gold, metals, commodities, oil, indices (all instruments)

Trading platform: MT4 (mobile and desktop)

The bottom line

In this review, I tried to look at one of the brokers, superforex, that claims to give away $50 as a no-deposit bonus to new clients and I explained why I think their claim is not real regarding my experience, however, that might not the same for others.

I looked into their other bounces as well and some of them may benefit you, however, you should read the rules first so that you know what you’ll get.

If you’ve had experience with superforex, especially about the bounces, you can drop a comment below. If you haven’t opened any accounts with them but you’re going to apply for the $50 bonus or any other bounces, come back later and let us know about your experience.

Superforex review

Superforex

Reason to avoid: offshore license

Listed date: september 20, 2018

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Beware superforex is a non-regulated broker. It is NOT SAFE to trade.

About superforex

��️ registered in	belize
��️ type of license	offshore license
��️ is superforex safe to trade	no
��️ recommended licenses	FCA in UK �� & ASIC in australia ��
�� alternative broker	FP markets - licensed by ASIC in australia

Is superforex a scam or legit broker?

No, it is not safe to trade with superforex. Superforex is owned by superforex ltd. Which is an offshore company registered in belize.

Superforex is incorporated and licensed by an IFSC forex broker with its registered office in belize. Yet, belize is a known offshore zone that delivers slight and operational requirement conditions to the financial service providers. Therefore, it became an offshore zone for shady forex brokers such as trading epic, bluemax capital and more. We have a detailed article explaining the risk of trading with brokers from belize.

As claimed on the official website superforex grants access to all the major trading platforms in the world, while users may benefit from a brief forex training course by opening a free demo account and learn the basic steps along with the quite competitive trading conditions.

The services of the company offered to the retail and institutional traders, while there is no strictest application to the rules of business conduct, comparing to the reputable forex authorities alike FCA (UK) and ASIC (australia). There are currently many brokers who establish their office in belize since the company gains access to a worldwide client while stating their official regulation. But once again, in fact, IFSC is a rather self-regulatory authority that did not implement sharp follow of standards.

Generally, we do not advise to open an account and engage in trading with the offshore brokers, since it may incur significant risks even if the offering sounds very attractive. As the company not overseen regularly by the licensor or the forex industry professional authority, there are many questions in regards to how the company manages traders and overall operation.

In superforex case it has also been confirmed by some number of negative responds and reviews from their clients, while the traders faced issues with the money withdrawal or some inconvenient processes during the trading sessions or position openings.

We advise all investors and traders to avoid superforex and other brokers from belize. Traders should trade with well-regulated brokers such as UK brokers or brokers in australia and reliable brokers such as city index and XM.Com.

At first they make it look like a good oppertunity to go for the bonus deals. But when you’ve excepted the bonus deals you are limited to some very bad and shady rules: 1: stoploss can’t be placed thight to the positions. 2: orders sometimes can’t be executed when the market doesn’t move, this makes your position stuck. 3: when accepting the bonus deals you can’t withdraw your profit. You can only withdraw twice the amount you have deposited. AND if you have deposited lets say 100 dollars you can only withdraw 100 dollars of profit whenever you traded 100 lots aswell. Because of this rule it is practically impossible to withdraw profits. 4: take profits cant be placed close to the current price 5: they keep falling back to their saying: “it’s in the agreement you agree with when accepting the bonus”. But this list with conditions is pretty big and a lot to read when you want to create the account. Tiny letters politics I call this…. 6: spreads are awfull, you are not able to make quick trades. I might had more bad things to say about superforex, but I can’t remember them right now. Ill update them below if I rememberd some. #######!I JUST WANT TO WARN YOU!####### the spreads are awfull, you cant withdraw profits like it should, stoplosses and take profits are worthless because of the minimum distance with the current price and the orders cant be executed for like 3-5minutes. I hope everyone will listen to this awfull experiance with superforex. Don’t make the same mistakes I made.

Question: is superforex safe to trade with? Are they regulated and licensed?

Is superforex a safe and trustworthy FX broker to trade forex with?

Superforex is regulated and licensed

Superforex is an online forex and CFD broker which is regulated by international financial services commission in belize.

As a regulated and licensed broker, superforex provides the online trading service, following the international laws and directives of each jurisdiction.

Superforex has grown its popularity since its foundation and provides the service to traders from over 150 countries.

Superforex is most probably located offshore for you, and is a honest and trustworthy international broker.

For more information about superforex’s company, visit the official website from below and go to “about the company” section.

Superforex’e been providing the service since 2013

Superforex has started offering the online trading service in 2013.

Since its foundation, superforex’s popularity is growing and now providing the service to millions of traders all over the world.

Superforex has been regulated and is an active broker for a long time, and that’s also ensures the stability of superforex’s operation.

There are millions of traders who have joined superforex already, and you can be one of the large community under superforex.

Secure client cabinet

To secure the information of account activity, personal information and money transactions, superforex has prepared a highly operational secure client cabinet.

You can login to superforex’s client cabinet and use for free without any charges.

Superforex’s client cabinet is where you can manage your accounts, funds and participation to special services and promotions online.

Both superforex official website and the client cabinet are secured with SSL certificate, and all processes are instant.

With superforex, you won’t be having problem managing or communicating with the company, but you can experience stress-free online operation.

For the list and conditions of superforex’s all fund deposit and withdrawal methods, visit the page here.

Superforex’s segregated bank account

With superforex, your funds stay safe at all times.

Once you transfer your investment funds to superforex, the whole funds will be placed in superforex’s segregated bank account.

The bank account is separated from superforex’s company assets.

This segregated bank account makes sure that you will get your whole fund back, even if superforex is unable to continue the service for some reason, such as default.

With superforex, your funds are yours for trading, and superforex does not use them to operate the company.

Superforex

Post tags

Invest in forex, gold, stock indices, shares, cryptocurrency and oils with superforex.

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Who is hercules.Finance?

Hercules.Finance is a financial education website powered by a team of financial specialists and IT experts, mainly introduce solutions of forex, CFD and commodity investment, and a number of payment services. With more than 30 partnered companies all over the world, hercules.Finance offers trusted and timely information for investors and users of the services. By referring to hercules.Finance, you can find all latest news/information, financial technical/fundamental analysis, main/exclusive bonus promotions of partnered companies and a number of educational materials of finance. For the list of all partnered companies, please visit here. For more latest information of the website, please visit hercules.Finance.

Risk warning

Foreign exchange and contracts for difference ("cfds") are complex financial products that are traded on margin. Trading forex & cfds carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, forex & cfds may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience. Past performance of forex & cfds is not a reliable indicator of future results. All information on hercules is only published for general information purposes. We do not present any guarantees for the accuracy and reliability of this information. Please note the spreads displayed in the website are all included extra trading commissions, as it shows the whole commissions charged by each broker. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it. Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in connection with the use of our website.

FSCA (FSB) regulated forex brokers

South africa is the most industrialized and technologically advanced country in africa. It is also home to the second-largest economy measured by GDP and the only G-20 member from africa, and one of the five members comprising BRICS.

South african forex traders do not have to trade with FSCA regulated brokers, and all international brokers accept traders from south africa. Regulated forex brokers in south africa provide domestic traders with protection against bankruptcies, scams, and fraud. While it sounds appealing, the best way to avoid those is by trading with well-established international brokers. A growing number of them acquire FSCA licenses, as south africa presents a growth market and excellent regional headquarters for expansion plans across africa.

Highly regulated, choice of fixed or floating spreads

Mifid, central bank of ireland, FSA, ASIC, BVI, FFAJ, FSCA, ADMG - FRSA

Highly regulated, choice of fixed or floating spreads

Best all-around: high floating leverage + fast execution

Reliable local regulation + excellent educational offerings

What is the FSCA (formerly FSB)?

The financial sector conduct authority (FSCA) is the current financial regulator of south africa. It superseded the financial services board (FSB) effective april 2018, following its creation in august 2017 via the financial sector regulation act (FSR act). The FSB was formed as a result of the van der horst committee in 1990 to create an independent regulatory and supervisory body for the non-banking financial sector. The financial advisory and intermediary services act (FAIS) of september 2004 expanded the FSB responsibilities to include market conduct in the banking sector, creating a super-regulator in south africa. With the financial intelligence centre act (2001), last updated in april 2019, the FSB received a mandate to combat money laundering.

The south african minister of finance appointed the chairman and members of the FSB. The executive officer also served as the registrar of non-banking financial institutions, including south african forex brokers. While south african forex traders are not legally required to trade with FSB regulated forex brokers, it was encouraged to increase their protection. An additional four deputy officers oversaw the financial advisory and intermediary services, retirement funds and friendly societies, and insurance and investment institutions. As a super-regulator, the FSB ensured all banking and non-banking firms in south africa complied with applicable rules and regulations, adhered to capital requirements, and promoted financial stability to protect the domestic investment sector. I was a member of the international organization of securities commissions (IOSCO), participated in the southern african development community (SADC) activities, and maintained a close working relationship with the committee of insurance, securities, and non-banking financial authorities (CISNA).

Failure to comply with FSB regulations, misconduct, and other violation resulted in enforceable fines that carried the same weight as a judgment of the supreme court of south africa. The august 2017 financial sector regulation act (FSR act) split the super-regulator into two entities, following developed market models. It resulted in a prudential authority (PA) with oversight of the banking sector, insurance companies, cooperative financial institutions, financial conglomerates, and select aspects of the capital market infrastructure. The financial sector conduct authority (FSCA) received a mandate to regulate financial products and services. It also oversees financial institutions with licenses granted under financial sector laws, including banks, brokers, pension funds, insurers, administrators, and the associated infrastructure. South africa aimed to increase the trust and stability of its financial system following failures by the FSB. The dual model consists of a prudent supervisor and a market conduct regulator to improve efficiency and effectiveness. Not enough operational history exists, with just over two years under the new model, to accurately assess the success or improvements of the PA and FSCA.

Why trade with FSCA brokers?

Failures and disasters of the FSB, primarily in the south african pension fund sector, resulted in heavy losses. It led to a cratering in confidence in the stability and reliability of domestic financial markets. Accusations of the south african financial services sector against the FSB included favoritism and excessive fees for legal and administrative services. Some companies labeled their interactions with the FSB as unusual, harsh, and even bizarre. In march 2019, the public protector, one of six independent state institutions under the south african constitution to protect democracy, outlined a series of failures by the FSB over a decade. The FSCA, on track to rebuild trust in the south african financial sector since its creation, counters claims of incompetence by the FSB as inaccurate. While the FSCA has a challenging task, it started to promote a deeper understanding of financial markets. The FSCA maintains the financial stability of the south african financial sector. It also assists in its development and openly communicates regulatory changes to the public.

In south africa, all derivatives, including contracts for differences (cfds) for the forex markets and other sectors, remain regulated as derivatives & non-banking financial products by the FSCA. Trading with regulated forex brokers in south africa ensures that local courts enforce domestic laws to resolve disputes and prosecute misconduct. All FSB-regulated forex brokers are now FSCA-regulated ones. While there are not many south african ones, a growing number of international brokers acquire an operating license from the FSCA. It requires that a local office exists, together with at least one south african director. A global broker with an FSCA license may accelerate its market share in africa’s most industrialized nation and second-largest economy measured by GDP, trailing only nigeria. The FSCA continues to evolve but misses an investor protection fund similar to the UK financial conduct authority and its financial services compensation scheme (FSCS) or the investor compensation fund (ICF) of the cyprus securities and exchange commission (cysec).

FSCA (FSB) regulated forex brokers in south africa offer domestic traders security and protection against bankruptcy, fraud, or malpractice by brokers. It does sound appealing, but well-regulated international brokers generally provide a superior framework, diminishing the necessity of an FSCA-regulated one for south african traders. The choice of brokers with an FSCA license remains limited, and most traders should seek the best forex broker to trade with and not place the most significant emphasis on the FSCA. Each trader must conclude the importance of domestic regulation, but well-established international choices provide superior trading environments, and the FSCA or another regulator becomes a byproduct. Rather than seeking FSCA (FSB) regulated forex brokers in south africa, forex traders should focus on registering with a trustworthy broker. I recommend over five years of operational experience and a spotless regulatory track record. Regulation remains necessary, and traders should avoid unregulated brokers, but FSCA regulation, even for south african traders, is not the most defining aspect.

How to verify if a broker is FSCA-regulated

Most regulated forex brokers in south africa who claim FSCA regulation usually have one. I always recommend all traders to double-check and confirm with the cited regulator. The forex industry is home to many scammers and fraudsters, and they maintain an excellent online presence to attract new retail traders. They pry on the lack of their knowledge and deploy attractive bonus campaigns and other marketing gimmicks to mask their intentions. Verifying if a broker is FSCA regulated is simple and takes less than a minute. The FSCA maintains a database labeled authorised financial service providers. The design is dated, and the user-experience not as friendly as it should be. Since traders will only spend a few moments there, it suffices to confirm the existence of regulation.

All regulated forex brokers in south africa have a financial services provider (FSP) number. Traders can locate it at the bottom of the homepage. A missing FSP number represents a red flag. Confirming a broker’s status with the FSCA is most convenient via an FSP search (or what some might call an FSB license check) on the FSCA website. After entering the five-digit FSP number and clicking submit, a new page will load with the search results. Traders can get more information by clicking on details. I also recommend checking the products approved category, the last one available under details. Since forex cfds fall under the category of derivatives & non-banking financial products, brokers must have authorization for derivative instruments and forex investment, for which four options exist.

Over-the-counter derivative provider (ODP) license

All FSCA (FSB) regulated forex brokers in south africa must apply for an over-the-counter derivative provider (ODP) license. The new requirement came into effect in 2019. The FSCA aims to increase the stability and transparency of the south african financial system. Therefore, all forex brokers have to implement new rules. Before accepting new traders, brokers must complete due diligence and assess if the prospective client understands the risks involved in trading the volatile forex market. During the process, new traders must provide proof that they have adequate capital to trade. Brokers must also report every transaction to regulators to force open opaque transactions and promote transparency.

The board of directors must approve the business plan and adhere to principle 7 of the king IV report on corporate governance for south africa (king IV). They must also establish an audit and risk committee, per principle 7 of king IV. Each broker must have sufficient capital and liquid assets to operate for six months, allowing enough time for an orderly wind-down of operations in case of default. A funding plan to raise funds in the event reserves fall below the requirement to cover operating expenses must equally exist. Brokers must submit details of provided services and assets. They also have to provide proof of the qualifications of the management team and essential personnel. All key staff must have direct employment with the broker or possess disclosed legal service agreements. Another requirement to receive the ODP license is evidence of the segregation of client capital from corporate funds. Brokers must also submit a description of the onboarding process of new clients.

South africa and the FSCA complies with G-20 efforts to limit the risk of over-the-counter (OTC) trading activities by enforcing the over-the-counter derivative provider (ODP) license. Regulated forex brokers in south africa who fail to apply for the ODP license may face prompt liquidation at the request of the FSCA. The first such case was JP markets (pty) limited, which was liquidated in september 2020 and had its bank accounts frozen. With the implementation of the ODP license, south africa remains proactive in providing security, transparency, and stability of its financial markets. As south africans trust their infrastructure and financial institutions, more capital will flow into financial products. It will assist the creation of more domestic forex brokers and increase international competitors acquiring an FSCA license. The ultimate beneficiary is south african forex traders due to more competitive choices from brokers with a local office.

Additional FSCA protections for forex traders

The FSCA monitors the domestic forex market to ensure that FSCA-regulated forex brokers comply with rules and regulations. It also tries to identify scams, weed out fraud, and protect south african forex traders from avoidable losses. Through the FSCA FSP search, traders can confirm if their broker maintains regulation from the FSCA. Traders must know that there is no requirement to trade with an FSCA-regulated broker and that international forex brokers do not require a license to accept traders from south africa.

Besides the FSCA FSP search tool, another beneficial service is the media release section of the regulator’s website, where it updates on fraudulent brokers and provides information about them. While south african forex traders can trade where they wish, and no international broker has restrictions against this G-20 member, checking the media release of the FSCA can provide useful information and protect against scams and fraud from a domestic player operating on a global scale.

FSCA strategy & structure

The south african national treasury oversees the FSCA, located in pretoria. Its mandate is to 'enhance the efficiency and integrity of financial markets; promote fair customer treatment by financial institutions; provide financial education and promote financial literacy; and assist in maintaining financial stability.’ the FSCA consists of several divisions, overseen by the board, its commissioner, and deputy commissioners. While the FSCA elects its commissioner, the minister of finance appoints the deputy commissioners. It grants more freedom than under the FSB, where the finance minister appointed all members. The support infrastructure consists of the chief risk officer, general counsel and media liaison officer. The FSCA ensures cooperation between entities and can order fines, penalties, and liquidations with the same power as the south african supreme court. The FSCA also maintains a customer complaint service and a self-policing appeals board.

The strategy of the FSCA consists of ensuring that all regulated forex brokers in south africa treat all clients equally and fairly. In case a client feels mistreated, a system exists, defined by law, to resolve the process. Brokers must make this process available or face regulatory and legal actions. The FSCA also demands that forex brokers must provide written material that does not confuse clients. Brokers must provide educational content and offer detailed descriptions of their services and products. The FSCA maintains a framework for south african traders to receive education, transparency, detailed information about products and services, and alerts to scams or frauds affecting the domestic market. It also strives to improve the efficiency and integrity of the south african financial markets. The FSCA additionally promotes competitiveness and fairness, maintains financial stability by supervising registered entities, and enforces rules and regulations.

FSB battling corruption & fraud

Despite the widespread popularity of forex trading and the accelerating demand from south african traders to take advantage of the profit potential, direct and indirect, of the largest and most liquid financial market globally, it remains in the early stages not just in south africa but across africa in general. There is a lot of misinformation, mis-marketing, and false claims concerning forex trading, inviting corruption and fraud. The FSB fought both for over 25 years until the FSCA took over. Scammers target new traders following misleading advertising campaigns, often deployed by fraudulent brokers. Ideal conditions for fraud exist amid forex opportunities, low entry requirements, and demand from new traders. The FSCA tries to take a proactive stand and informs the public of all known scams, uncovered fraud, and brokers or individual actors responsible for them.

While south africa is the most industrialized nation in africa and the second-largest economy, it is also an unequal society. Economic issues present a grave challenge, and many look to the forex market to improve their conditions. South africa makes slow progress addressing the problems, and as the situation improves, the increased income levels will find a home in forex trading accounts. The conditions for growth in the sector are excellent, which is why many international brokers acquire an FSCA license, establish a local office, and expand their staff. Unfortunately, the inflow also attracts fraud, but the FSCA appears to have control over the situation.

With education being an essential requirement for FSCA regulated brokers, more south africans can receive the necessary knowledge to identify corruption, fraud, and scams. Since the forex market has low capital entry requirements and high leverage, many who open trading accounts are motivated by theoretical profits. Even brokers use this to their advantage and create marketing campaigns to attract first-time depositors. With the abundance of misleading information, the most superior weapon the FSCA has remains education. It will combat unrealistic profit claims from small one-time deposits in highly leveraged accounts with no-to-minimal risk management. The FSB failed to protect all participants in the south african financial markets, but the FSCA enjoys a more capable position. It exists for just over two years and requires more time but shows promise in delivering its mandate.

Which FSCA (FSB) forex broker has the lowest fees?

Traders can usually find the lowest fees at established brokers with deep liquidity and superior technology infrastructure. International forex brokers provide a more competitive trading environment, including the lowest trading costs. Some acquired a license, and their local subsidiaries are FSCA (FSB) forex brokers.

Which FSCA- (FSB) regulated brokers offer ZAR trading accounts?

ZAR trading accounts are rare, and traders should avoid them. While they may sound appealing for deposits and withdrawals, traders will face currency conversion costs on almost every transaction. Since clients place significantly more trades than other financial transactions, a trading account in US dollars or euros makes more economic sense and reduces total trading costs.

Who are the best FSB forex brokers in south africa?

The best FSCA (FSB) forex brokers in south africa are international brokers with an FSCA license. Domestic brokers cannot compete with the products and services portfolio of well-established international competitors.

Do south africans have to trade with FSCA-regulated brokers?

No, south africans do not have to trade with an FSCA-regulated broker. All international brokers accept south african traders, giving them broad choices with industry-leading providers.

What are FSB brokers?

FSCA (FSB) brokers are brokers with an FSCA license, an office in south africa, and at least one south african director. An FSCA (FSB) license check can confirm the regulatory status of a broker.

Should I trade with an FSCA-regulated forex broker?

While the choice depends on individual preferences, most international brokers provide superior trading environments through lower costs, broader asset choices, enhanced trading platforms, higher quality research and education, and more experience. Therefore, south african forex traders can trade with a competitive edge at non-FSCA-regulated brokers.

How do I know if a forex broker is regulated by the FSCA?

The FSCA maintains an FSP search function. Each regulated broker has a unique FSP. I recommend traders use the FSCA FSP search tool to confirm a broker’s status with the regulator.

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