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SuperForex Review

Overall, SuperForex is considered low-risk, with an overall Trust Score of 87% out of 100SuperForex offers 11 different retail trading accounts as well as Demo and Islamic accounts. SuperForex offers a KES account to Kenyan traders. SuperForex is currently not regulated by the CMA of Kenya

Updated : August 31, 2022

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Range of Markets

Fees

Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

USD 1 / 116 KES

Regulators

IFSC

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

300

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

SuperForex Overview

👉 Overall, SuperForex is considered low-risk, with an overall Trust Score of 87 out of 100. SuperForex is licensed by zero Tier-1 Regulators (high trust), zero Tier-2 Regulators (average trust), and zero Tier-3 Regulators (low trust).

 

👉 SuperForex offers eleven different retail trading accounts namely a 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, and ECN Crypto Account.

 

👉 SuperForex is an online forex broker that provides traders with a wide range of trading options, including forex, cryptocurrencies, and stocks, totaling over 400 trading instruments.

 

👉 The MetaTrader 4 platforms for web, desktop, and mobile trading are popular and user-friendly, and they provide extremely competitive online trading conditions. There are no commission costs, narrow spreads (fixed or variable), and quick trade execution speeds included.

 

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

 

Distribution of Traders

Distribution of Traders

👉 The distribution of traders with SuperForex is as follows:

➡️ Tanzania – 12.1%

➡️ Brazil – 8%

➡️ Kenya – 7%

➡️ Algeria – 6.6%

➡️ Zimbabwe – 5.9%

 

Popularity among traders who choose SuperForex

🥇 SuperForex has a decent market share of +6% in Kenya, ranking this broker in the Top 20 for Kenyan traders.

SuperForex At a Glance

🏛 HeadquarteredBelize
⚖️ Local Market Regulator in KenyaCapital Markets Authority (CMA)
💰 Foreign Direct Investment in Kenya1.3% of the overall GDP
💸 Foreign Exchange Reserves in Kenya8.2 billion USD
🏛 Local office in Nairobi?No
⚖️ Governor of SEC in KenyaNone
✔️ Accepts Kenyan Traders?Yes
🗓 Year Founded2013
📞 Kenyan Office Contact NumberNone
📱 Social Media Platforms• Telegram
• Instagram
• Facebook
• YouTube
• Twitter
• LinkedIn
• Pinterest
⚖️ RegulationNone that could be verified
1️⃣ Tier-1 LicensesNone
2️⃣ Tier-2 LicensesNone
3️⃣ Tier-3 LicensesNone
🪪 License NumberNone
⚖️ CMA RegulationNone
❌ Regional RestrictionsUnited States, Ukraine, North Korea
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts11
✔️ PAMM AccountsYes, through SuperForex Bank
💧 Liquidity ProvidersBNP Paribas, Natixis, Citibank, UBS
💰 Affiliate ProgramYes
💻 Order ExecutionMarket, Instant
📊 Starting spreadFrom 0.0 pips EUR/USD
💰 Minimum Commission per TradeFrom 0.013%
💸 Decimal PricingUp to 5 digits after the comma
📞 Margin Call80%
🛑 Stop-Out40%
💰 Minimum Trade Size0.01 lots
💵 Maximum Trade SizeUnlimited
✔️ Crypto trading offered?Yes
✔️ Offers a KES Account?Yes, ECN Standard Mini
👥 Dedicated Kenyan Account Manager?No
📈 Maximum Leverage1:2000
📋 Leverage Restrictions for Kenya?No
💰 Minimum Deposit (KES)110 KES or an equivalent to $1
✔️ Kenyan shilling Deposits Allowed?Yes
👥 Active Kenyan Trader Stats70,000+
🤝 Active Kenyan-based SuperForex customersUnknown
💰 Kenya Daily Forex Turnover$100 million+
💵 Deposit and Withdrawal Options• Bank Transfers
• South African Bank Transfers
• Southeast Asian Bank Transfers
• Latin American Bank Transfers
• Credit Card
• Debit Card
• UnionPay
• Skrill
• Sticpay
• Neteller
• Triv
• Fasapay
• Perfect Money
• OnlineNaira
• BitWallet
• AstroPay
• MPesa
• Airtel
• MTN
• Vodacom
• Zamtel
• Crypto Wallets
• Local Payments
• SuperForex Money
⏰ Minimum Withdrawal TimeInstant
🕙 Maximum Estimated Withdrawal Time2 to 4 working days
✔️ Instant Deposits and Instant Withdrawals?Yes, deposits
🏧 Segregated Accounts with Kenyan Banks?No
💻 Trading Platforms• MetaTrader 4
• SuperForex App
💵 Tradable Assets• Forex
• Precious Metals
• Stocks
• Indices
• Cryptocurrencies
• Commodities
• Energies
• ETFs
• Futures
• CFDs
✔️ Offers USD/KES currency pair?No
📊 USD/KES Average SpreadN/A
✔️ Offers Kenyan Stocks and CFDsNone
🗣 Languages supported on the WebsiteEnglish, Russian, Arabic, Thai, French, Spanish, Chinese (Simplified), Chinese (Traditional), Italian, Polish, Indonesian, Vietnamese, Portuguese, German, and several others.
📞 Customer Support LanguagesMultilingual
✔️ Copy Trading SupportYes, Standard and Swap-Free Accounts
⏰ Customer Service Hours24/5
🧑‍💻 Kenyan-based customer support?No
💰 Bonuses and Promotions for KenyansYes
📚 Education for Kenyan beginnersYes
✔️ Proprietary trading softwareYes
🥇 Most Successful Kenyan TraderPatrick Mahinge (Net Worth – Private)
✔️ Is SuperForex a safe broker for Kenyans?No
🥇 Rating for SuperForex Kenya8/10
🎖 Trust score for SuperForex Kenya87%
👉 Open Account👉 Open Account

Regulation and Safety of Funds

superforex regulation

👉 The International Financial Services Commission (IFSC) in Belize, according to SuperForex, oversees and regulates the firm’s operations. However, there is no license or reference number offered, and additional examination into SuperForex’s regulatory status has not yielded any conclusive information.

 

👉 A link on the SuperForex website to the IFSC merely directs the user to the homepage of the regulator and does not offer any information regarding SuperForex’s regulatory status.

 

👉 SuperForex, even though it is unregulated, promises to use a “segregated funds” method. SuperForex insists that it does not use any of the money it receives from consumers in its day-to-day operations.

 

👉 According to this, SuperForex must ensure that there are bank accounts for consumers’ monies, which should only be used to fund trading activities.

 

👉 SuperForex has installed Secure Socket Layer (SSL) certifications to ensure the protection of its consumers. By using this method, both the clients’ computers and the SuperForex servers are kept safe.

 

👉 To ensure their accounts are safe, SuperForex recommends that consumers double-check all their contact details and comply with anti-money laundering regulations, SuperForex explains in an AML policy paper the need for each client to provide a government-issued ID card and a utility bill to verify their identity and residential address.

 

👉 Kenyan traders are required to do this verification step as part of the registration procedure for new consumers. With SuperForex, Kenyan customers can see their log-in history on their accounts, which includes their IP address, the date and time of their last log-in, and the operating system and web browser they used.

 

👉 The Client’s Cabinet offered by SuperForex can be used to hold a record of all customer’s access devices. Devices not included in this list are unable to access the accounts of SuperForex customers.

 

👉 A list of IP addresses from which customers do not want their accounts to be accessed can also be created, further preventing hackers from obtaining access to clients’ accounts.

Account Types and Features

Superforex account types

👉 Traders at SuperForex have a wide variety of account options to select from. Kenyan traders must decide on the account type that best matches their goals, trading styles, and investment horizon. It is important to note that each account type has its own set of rules, trading conditions, and restrictions.

 

👉 With direct access to the Forex market through ECN accounts, there is no need for intermediary institutions to facilitate transactions.

 

👉 Subsequently, there are no intermediaries or requotes between market participants using ECN accounts. Because of this technology and advantage, Kenyan traders can anticipate immediate order execution.

 

SuperForex offers the following types of accounts:

➡️ 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 standard account that most Kenyan traders would be able to use despite their trading objectives or unique style.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP, RUB, ZAR, NGN, CNY, BDT, INR, THB
💵 Minimum Deposit110 KES 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
📊 SwapsFixed
📉 Average Spreads• EUR/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 offeredIncluded

 

Swap-Free Account

👉 Swap costs are waived for Kenyan Muslim traders using this Swap-Free account.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP, RUB, IDR, MYR, AED, ZAR, NGN, BDT
💵 Minimum Deposit110 KES 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
📊 SwapsFixed
📉 Average Spreads• EUR/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 offeredIncluded

 

No Spread Account

👉 For algorithmic traders, scalpers, aggressive traders, and other fast-paced trading tactics, this account has the lowest spreads.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP
💵 Minimum Deposit11,500 KES or an equivalent to $100
💸 Maximum DepositUnlimited
⬆️ Maximum Leverage offered1:1000
💵 Commissions chargedYes, from 0.017%
🔧 Instruments available on this Account• Forex
• Precious Metals
• Stocks
• Commodities
• CFDs
• Futures
✔️ Bonuses offeredWelcome, Energy, Hot, Dynamic
📈 Position Size for the Account10,000 USD
📊 SwapsNo
📉 Average Spreads• EUR/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 offeredNone

 

Micro Cent Account

👉 Because of the smaller position sizes and fewer risks, this is an excellent account for new traders.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR
💵 Minimum Deposit110 KES or an equivalent to $1
💸 Maximum Deposit340,000 KES or an Equivalent to $3,000
⬆️ Maximum Leverage offered1:1000
💵 Commissions chargedNone
🔧 Instruments available on this Account• Forex
✔️ Bonuses offeredWelcome, Energy, Hot, Dynamic
📈 Position Size for the Account10,000 USD or EUR Cents
📊 SwapsNo
📉 Average Spreads• EUR/USD – 2 pips
• USD/CHF – 2 pips
• NZD/USD – 3 pips
• USD/CAD – 3.5 pips
• USD/ZAR – 48 pips
✔️ Forex Copy-trading offeredNone

 

Profi STP Account

👉 This is a more sophisticated account designed to help traders maximize their profits.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP, ZAR
💵 Minimum Deposit57,000 KES 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 Account100,000 USD
📊 SwapsNo
📉 Average Spreads• EUR/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 offeredNo

 

Crypto Account

👉 The purpose of this account is only to facilitate the trade of cryptocurrencies.

Account FeaturesValue
💰 Account Base Currency OptionsUSD
💵 Minimum Deposit11,500 KES or an equivalent to $100
💸 Maximum DepositUnlimited
⬆️ Maximum Leverage offered1:10
💵 Commissions chargedYes, from 0.75%
🔧 Instruments available on this Account• Forex Major Pairs
• Cryptocurrencies
✔️ Bonuses offeredWelcome, Energy, Hot, Dynamic
📈 Position Size for the Account10 BTC
📊 SwapsNo
📉 Average Spreads• EUR/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 offeredNo

 

ECN Standard Account

👉 ECN execution is included in the basic account characteristics, allowing traders to profit from the advantages of ECN trading.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP
💵 Minimum Deposit11,500 KES or an equivalent to $100
💸 Maximum DepositUnlimited
⬆️ Maximum Leverage offered1:1000
💵 Commissions chargedBetween $8 to $10 on Forex
🔧 Instruments available on this Account• Forex
• CFDs
• Precious Metals
• Indices
• ETFs
• Futures
✔️ Bonuses offeredWelcome, Energy, Hot, Dynamic
📈 Position Size for the Account10 BTC
📊 SwapsIncluded
📉 Average Spreads• EUR/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 offeredNo

 

ECN Standard Mini Account

👉 This is a perfect account for traders who wish to test their trading methods in an environment with lower risks while experiencing live market conditions.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP, NZD, TZS, UGX, GHS, KES, MYR, BRL, NGN, ZAR
💵 Minimum Deposit110 KES or an equivalent to $1
💸 Maximum DepositUnlimited
⬆️ Maximum Leverage offered1:1000
💵 Commissions chargedNone
🔧 Instruments available on this Account• Forex
• CFDs
• Precious Metals
• Indices
• ETFs
• Futures
✔️ Bonuses offeredWelcome, Energy, Hot, Dynamic
📈 Position Size for the Account10,000 USD
📊 SwapsIncluded
📉 Average Spreads• EUR/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 offeredNo

 

ECN Swap-Free Account

👉 This is a conventional ECN Islamic account designed for Muslim traders.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP
💵 Minimum Deposit11,500 KES or an equivalent to $100
💸 Maximum DepositUnlimited
⬆️ Maximum Leverage offered1:1000
💵 Commissions charged• $10 on Forex Majors
• $40 on Energies
🔧 Instruments available on this Account• Forex
• CFDs
• Precious Metals
• Indices
• ETFs
• Futures
• Energies
✔️ Bonuses offeredWelcome, Energy, Hot, Dynamic
📈 Position Size for the Account100,000 USD
📊 SwapsIncluded
📉 Average Spreads• EUR/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 offeredNo

 

ECN Swap-Free Mini Account

👉 This account is designed specifically for Muslim traders in Kenya who are just getting started in trading, offering them competitive trading conditions and ECN execution.

Account FeaturesValue
💰 Account Base Currency OptionsUSD, EUR, GBP
💵 Minimum Deposit110 KES or an equivalent to $1
💸 Maximum DepositUnlimited
⬆️ Maximum Leverage offered1:1000
💵 Commissions charged• $10 on Forex Majors
• $40 on Energies
🔧 Instruments available on this Account• Forex
• CFDs
• Precious Metals
• Indices
• ETFs
• Futures
• Energies
✔️ Bonuses offeredWelcome, Energy, Hot, Dynamic
📈 Position Size for the Account10,000 USD
📊 SwapsIncluded
📉 Average Spreads• EUR/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 offeredNo

 

ECN Crypto Account

👉 This account is limited to crypto trading with ECN execution.

Account FeaturesValue
💰 Account Base Currency OptionsUSD
💵 Minimum Deposit11,500 KES or an equivalent to $100
💸 Maximum DepositUnlimited
⬆️ Maximum Leverage offered1:10
💵 Commissions chargedYes, from 0.6%
🔧 Instruments available on this Account• Forex Major Pairs
• Cryptocurrencies
✔️ Bonuses offeredWelcome, Energy, Hot, Dynamic
📈 Position Size for the Account10 BTC
📊 SwapsNone
📉 Average Spreads• EUR/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 offeredNo

 

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.

 

👉 Kenyan traders may anticipate the following features from the SuperForex Demo Account:

➡️ 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 provides Muslim Kenyan traders with the following certified Islamic Swap-Free Accounts:

➡️ STP Swap-Free Account

➡️ ECN Swap-Free Account

➡️ ECN Swap-Free Mini Account

Account Registration

SuperForex Account 1

👉 Kenyans may create an account by following the procedure below:

➡️ Visit the SuperForex website and click on the “Open Account” button on the homepage.

➡️ Read the Public Offer Agreement, check the box that states, “I agree to the terms of the SuperForex public offer agreement,” and then click “Open Account.”

➡️ A new screen will open, prompting traders to pick their account type (Individual or Corporate), enter their complete name, date of birth, user-selected password, country of residence, residential address, email address, and cellphone number, and then click “Next.”

➡️ Following that, traders may choose the account type, leverage ratio, and base currency for the account.

➡️ Muslim merchants have the option of opening an Islamic account. While SuperForex provides specialized Swap-Free Accounts, Muslim traders may open an Islamic account by selecting one of the other live trading accounts.

➡️ Before continuing, if the trader has an Affiliate code, they may input it in the area given.

➡️ Once the form is completed, traders may continue by selecting “Open Account.”

➡️ Traders will be instantly logged into their account, and a pop-up window will display the specifics of their live trading account.

➡️ Traders must validate their personal information, including their name, email address, and residence address, before they may begin trading. While traders’ email addresses are verified by a verification email, they must validate their details by uploading a copy of their identification certificate and proof of domicile.

➡️ Once completed, traders can fund the account from the dashboard, enabling them to begin trading.

SuperForex Vs FOREX.com Vs Admirals – Broker Comparison

🥇 SuperForex🥈 FOREX.com🥉 Admirals
⚖️ RegulationNoneNFA, CFTC, FCA, ASIC, FSA, IIROC, CIMA, SFC, MASFCA, ASIC, CySEC, EFSA, JSC, FSCA
📱 Trading Platform• MetaTrader 4
• SuperForex App
• MetaTrader 4
• MetaTrader 5
• FOREX.com Platform
• MetaTrader 4
• MetaTrader 5
• Admirals Mobile App
💸 Withdrawal FeeYesNoYes
💻 Demo AccountYesYesYes
💵 Min Deposit110 KES11,500 KES110 KES
📊 Leverage1:2000Up to 1:400• 1:30 Retail
• 1:500 Professional
📊 SpreadFrom 0.0 pipsFrom 0.3 EUR/USDFrom 0.0 pips
💰 CommissionsFrom 0.013%$5 per $100k tradedFrom $0.02
🛑 Margin Call/Stop-Out80%/40%100%/50%100%/50%
💵 Order ExecutionMarket, InstantMarketMarket/Exchange
💰 No-Deposit BonusYesNoNo
💵 Cent AccountsYesNoNo
💻 Account Types• 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
• Standard Account
• Commission Account
• DMA Account
• Trade.MT5
• Invest.MT5
• Zero.MT5
• Bets.MT5
• Trade.MT4
• Zero.MT4
⚖️ CMA RegulationNoNoNo
💸 KES DepositsYesNoNo
💰 Kenyan shilling AccountYesNoNo
📞 Customer Service Hours24/524/524/5
🛍 Retail Investor Accounts1136
☪️ Islamic AccountYesYesYes
💵 Minimum Trade Size0.01 lots0.01 lots (100k on DMA Account)0.01 lots
📈 Maximum Trade SizeNoneDepends on available funds200 lots
⏰ Minimum Withdrawal TimeInstantInstantInstant
💻 Maximum Estimated Withdrawal Time2 to 4 working days1 to 2 working days3 to 5 working days
💵 Instant Deposits and Instant Withdrawals?Yes, depositsYesYes

Trading Platforms

SuperForex MT 4

👉 SuperForex offers Kenyan traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ SuperForex App

 

Desktop Platforms

Desktop Platforms

👉 MetaTrader 4 (MT4) is a free, widely used, and professional trading platform that is used by many brokers and traders worldwide. The following are some of the important aspects of the MT4 platform:

➡️ Layouts, interface, charts, and windows are completely customizable.

➡️ All tradable assets may be seen in one of three chart formats over nine periods.

➡️ It has 30 indicators and 24 analytical tools pre-installed.

➡️ Traders may develop, test, and employ expert advisors (EAs) to automate their forex and CFD trading.

➡️ A strategy tester is used to do backtesting on EAs using historical data.

➡️ Multiple orders are supported, including pending and market orders.

➡️ Notifications are sent through platform pop-ups, emails, and SMS.

 

WebTrader Platforms

WebTrader Platforms

👉 MetaTrader 4 has a comprehensive set of charting tools, indicators, and analytical tools that can be accessed through any online browser. MetaTrader 4 can be accessed through any web browser and any operating system.

 

👉 Because it is a component of the desktop platform, the MetaTrader 4 web client includes all the native client’s features. Therefore, the web platform’s reliability and compatibility with the MetaTrader 4 ecosystem are guaranteed. The program securely transmits and receives encrypted data.

 

Trading App

Trading App

➡️ MetaTrader 4

➡️ SuperForex App

 

MetaTrader 4

👉 This is the MT4 platform’s mobile version, which is accessible as iOS and Android applications. The applications are available for download from the respective app stores.

 

👉 The MT4 app is almost identical to the MT4 desktop platform in terms of capabilities and smoothly links with MT4 accounts. The mobile trading application is advantageous for traders who prefer to trade on the go.

 

SuperForex App

👉 To stay up with the fast-paced financial markets of today, SuperForex developed a suite of mobile applications to keep Kenyan traders connected to their trading profession, enabling them to make lightning-fast trading decisions.

 

👉 Whether traders want to monitor the status of current deals or initiate or cancel new ones, the SuperForex app development team’s apps provide a full trading experience directly from their mobile devices.

 

Range of Markets

👉 Kenyan traders can expect the following range of markets from SuperForex:

➡️ Forex

➡️ Precious Metals

➡️ Stocks

➡️ Indices

➡️ Cryptocurrencies

➡️ Commodities

➡️ Energies

➡️ ETFs

➡️ Futures

➡️ CFDs

Broker Comparison for Range of Markets 

🥇 SuperForex🥈 FOREX.com🥉 Admirals
➡️ ForexYesYesYes
➡️ Precious MetalsYesYesYes
➡️ ETFsYesNoYes
➡️ CFDsYesYesYes
➡️ IndicesYesYesYes
➡️ StocksYesYesYes
➡️ CryptocurrencyYesNoYes
➡️ OptionsNoNoNo
➡️ EnergiesYesYesYes
➡️ BondsNoNoYes

Trading and Non-Trading Fees

Superforex trading fees

Spreads

👉 The spreads that traders may anticipate from SuperForex will vary according to the financial instrument traded, the market circumstances at the time of the deal, and the financial instrument transacted. SuperForex provides a detailed overview of all the spreads available to traders based on their account type.

 

👉 The following table summarizes the typical spreads charged by SuperForex on EUR/USD by account type:

➡️ 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

👉 Commissions are charged on specific account types and financial products at SuperForex. While most accounts are commission-free, the following accounts are not:

➡️ 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 imposes overnight fees on a limited number of accounts and only on specific currency pairings. Kenyans may anticipate the following typical overnight costs for a few of the supported currency pairs:

➡️ 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 deposits and withdrawals

👉 SuperForex does not charge for deposits, but does levy the following withdrawal fees:

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

➡️ South African Bank Transfers – from 1.4% to 3.8%

➡️ Southeast Asian Bank Transfers – 3%

➡️ Latin American Bank Transfers – $5

➡️ Credit and Debit Card – 3% + 10 USD

➡️ UnionPay – 3%

➡️ Skrill – 1 USD if the withdrawal amount is less than 50 USD, 1.5% if the withdrawal amount is 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

Overall Rating

Min Deposit

USD 1 / 116 KES

Regulators

IFSC

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

300

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

Deposits and Withdrawals

Superforex deposits and withdrawals

👉 SuperForex offers the following deposit and withdrawal methods:

➡️ Bank Transfers

➡️ South African Bank Transfers

➡️ Southeast Asian Bank Transfers

➡️ Latin American Bank Transfers

➡️ Credit Card

➡️ Debit Card

➡️ UnionPay

➡️ Skrill

➡️ Sticpay

➡️ Neteller

➡️ Triv

➡️ Fasapay

➡️ Perfect Money

➡️ OnlineNaira

➡️ BitWallet

➡️ AstroPay

➡️ MPesa

➡️ Airtel

➡️ MTN

➡️ Vodacom

➡️ Zamtel

➡️ Crypto Wallets

➡️ Local Payments

➡️ SuperForex Money

 

Payment Method, Accepted Currencies, Fees, Processing Times

💵 Payment Method✔️ Accepted Currencies💰 Withdrawal Fees⏰ Deposit Processing Time💳 Withdrawal Processing Time
Bank TransfersAll3% + 35 USD2 – 4 days2 – 4 days
South African Bank TransfersZAR1.4% – 3.8%Instant2 – 4 days
Southeast Asian Bank TransfersIDR, MYR, THB, VND3%Instant1 – 3 days
Latin American Bank TransfersBRL, MXN5%Instant1 – 3 days
Credit CardAll3% + 10 USDInstant2 – 4 days
Debit CardAll3% + 10 USDInstant2 – 4 days
UnionPayCNY3%Instant1 – 4 hours
SkrillUSD, EUR>50 USD – 1.5%Instant1 – 3 hours
SticpayUSD2.5% + 0.3 USDInstant2 – 4 hours
NetellerUSD, EUR2%Instant1 – 3 hours
TrivIDR0.5%Instant1 – 3 hours
FasapayUSD, IDR0.5%Instant1 – 3 hours
Perfect MoneyUSD, EUR0.5%Instant1 – 3 hours
OnlineNairaNGN2%Instant2 – 4 hours
BitWalletJPY, USD, EUR4%Instant2 – 4 hours
AstroPayUSD5%Instant2 – 4 days
MPesaKES3%Instant1 – 4 hours
AirtelTZS3%Instant1 – 4 hours
MTNUGX, GHS, RWF3%Instant1 – 4 hours
VodacomZMWInstant1 – 4 hours
ZamtelZMWInstant1 – 4 hours
Crypto WalletsBTC, LTC, DOGE, PPC, DASH, RDD, ZEC, BLK, USDT5%Instant1 – 3 hours
Local PaymentsMYR, IDR, NGN, KES, ZWD, NAD, IRRLocal wire feeInstant1 – 3 hours
SuperForex MoneyUSD, MYR, IDR(+7% Discount)Instant1 – 3 hours

How to Deposit Funds with SuperForex

👉 To deposit funds to an account with SuperForex, Kenyan traders can follow these steps:

➡️ Log in to the Client’s Cabinet

➡️ Choose the account to fund

➡️ On the lefthand side, go to “Financial Operations” and pick the “Deposit Money” option.

➡️ Once traders have chosen their deposit method, they may continue by clicking on the green “Deposit” button.

➡️ A more complete summary of the payment method chosen by traders will appear, and traders may enter the deposit amount in the “Deposit Details” columns before selecting “Deposit Money.”

➡️ Traders will be directed to the appropriate payment option homepage to complete the transaction.

SuperForex Fund Withdrawal Process

👉 To withdraw funds from an account with SuperForex, Kenyan traders can follow these steps:

➡️ Traders can withdraw funds by logging into their Client’s Cabinet and selecting “Money Withdrawal.”

➡️ Traders will be redirected to a new page containing information about supported withdrawal methods.

➡️ To make a withdrawal, traders can click the “Withdraw” button, which will take them to a page with information on the payment method.

➡️ Traders can input their withdrawal amount and choose “Withdraw Money” from this screen.

➡️ Traders will be directed to the appropriate page where they can finalize their withdrawal using the payment method they have chosen.

Education and Research

Superforex education

👉 SuperForex offers the following Educational Materials:

➡️ Training Centre

➡️ Seminars

➡️ Educational Videos

➡️ Glossary

➡️ Pattern Graphix

 

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

➡️ Technical Analysis

➡️ Economic News

➡️ Fundamental Analysis

➡️ Video Analysis

➡️ Weekly Review

Bonuses and Promotions

SuperForex Bonuses

👉 SuperForex offers Kenyan traders the following bonuses 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

Overall Rating

Min Deposit

USD 1 / 116 KES

Regulators

IFSC

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

300

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

How to open an Affiliate Account with SuperForex

Superforex partnership program

👉 Prospective affiliates can visit the SuperForex website and navigate to the “Partners” section on the website. Here, they will find more information regarding the affiliate program, and they can register by selecting “Partnership Program” and “Become a Partner.”

 

👉 Before applying to become an affiliate, Kenyans must first register on the website by completing the short registration form that requires their name, email, address, and mobile number. Next, Kenyans can complete the application and access the affiliate links, banners, merchandise, presentations, and ready websites.

 

SuperForex Affiliate Program Features

👉 The broker’s Affiliate and Partnership Program enables customers to develop and grow their own businesses by recommending full trading services to their contacts. SuperForex compensates its partners well for each new client they refer.

 

👉 When Kenyans join with SuperForex, they have access to a range of tools and resources, including a pre-built website for their business, a choice of eye-catching advertising materials, and an affiliate connection that enables affiliates to monitor all their partner data.

 

👉 Additionally, the Golden Challenge is accessible to all new partners at any time. Among the advantages of the SuperForex Affiliate Program are the following:

➡️ Commissions of up to 75% on the spread

➡️ A large selection of promotional materials

➡️ Access to Personal Affiliate Managers

➡️ Access to automatic rebates

➡️ Access to a 100% tradable bonus for new clients

➡️ Access to a range of affiliate types including Regional Representative, Introducing Broker, and Multi-Level Partnership

➡️ Access to detailed statistics as well as ready-to-use partner websites

SuperForex Corporate Social Responsibility

👉 SuperForex wants to show Kenyan clients a side of its activity that is not often highlighted in the broker’s marketing efforts, notably its social responsibility program and how important it is to the brand overall.

 

👉 Although SuperForex is a worldwide leader in the financial brokerage business because of its continually developing and creative services, the broker prefers to put its success to good use.

 

👉 The SuperForex team is not indifferent to the many challenges that people throughout the globe confront. Therefore the broker strives to collaborate with partners and provide time, effort, and financial resources to non-profit initiatives that assist the poor and needy in a variety of areas across the globe.

 

👉 Some past initiatives in which SuperForex participated include, but are not limited to:

➡️ Christmas Giving in 2021 in Lagos, Nigeria

➡️ Helping orphanages in Sumatera Utara, Indonesia

➡️ Helping orphans in Songea, Tanzania

➡️ Charity events in Nairobi, Kenya

➡️ Charity initiatives in Bangladesh

➡️ Charity events in Malang, and several other areas around the globe

Verdict on SuperForex

👉 SuperForex is a reputable broker that is committed to meeting all its clients’ trading needs. Whatever your trading requirements, with hundreds of trading instruments and user-friendly platforms to pick from, there is something for everyone.

 

👉 SuperForex provides a variety of account kinds, allowing traders to choose the one that best suits their background, investment amount, and trading experience. The broker offers a diverse choice of efficient, fast, and easy payment methods to suit customers from a variety of nations with varying payment requirements.

SuperForex Pros and Cons

✔️ Pros❌ Cons
SuperForex offers eleven different retail accounts, each catering to the different needs and objectives of tradersUnregulated broker
There are tight spreads and reliable trade execution speedsMetaTrader 5 is not offered
There are several Islamic accounts offered to Muslim traders without admin fees charged
There are convenient deposit and withdrawal options for Kenyans
There is a dedicated KES-denominated account
There are managed accounts offered via the SuperForex Bank
There are social trading opportunities and support for Copytrading
There are educational materials and trading tools offered

FAQ

Is SuperForex trusted?

Yes, SuperForex is a high trust, a low-risk broker that has an overall trust score of 87 out of 100 despite not being regulated by any known market regulators.

 

How long does it take to withdraw from SuperForex?

The shortest withdrawal time is between an hour up to three hours on several withdrawal methods such as Skrill, Neteller, Triv, Fasapay, Perfect Money, MPesa Kenya, Airtel, MTN, Vodacom, Zamtel, Crypto Wallets, and local payments.

 

Does SuperForex have NASDAQ?

Yes, SuperForex has a very large trading portfolio that contains more than 300 forex pairs, futures, shares, stock indices, and several other tradable instruments, including NASDAQ, SPX, Dow Jones, and many others.

 

In addition, not only can you trade a range of instruments with SuperForex, but you can also hedge your positions and create a diverse trading and investment portfolio.

 

How do I claim my bonus on SuperForex?

You can log into your trading account on the SuperForex website and navigate to the “Bonuses” tab in the Client’s Cabinet. From here, you can choose the bonus that you want to access and follow the instructions.

 

What is the overall rating for SuperForex?

We give SuperForex an overall rating of 8/10. Overall, even if SuperForex is not regulated by any entity, the broker is highly trusted by Kenyan traders, and this can be seen in the broker’s market share. SuperForex offers a choice between 11 account types, each with unique and competitive trading conditions.

 

SuperForex also offers powerful trading software, trading tools and education, and a range of deposit and withdrawal methods which include local methods for Kenyan traders and the advantage that they can deposit/withdraw in Kenyan shilling, exempting them from currency conversion fees.

 

How do you change leverage on SuperForex?

To change your leverage setting for the trading account that you hold with SuperForex, you will need to send a request to the SuperForex support team via one of the many communication channels on the website.

Conclusion

👉 Now it is your turn to participate:

➡️ Do you have any prior experience with Axi?

➡️ What was the determining factor in your decision to engage with Axi?

➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?

➡️ Have you experienced any issues with Axi such as difficulty withdrawing funds, inability to verify regulation, irresponsive customer support, etc.?

 

👉 Regardless, please share your thoughts in the comments below.

 

Addendum/Disclosure:

👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

9.1/10 - (14 votes)