SuperForex Review - Forex Scams
17 / 04 / 22
Visitors: 476
The online broker SuperForex, which operates in the UK, is considered a scam with a bad reputation.
If we go to the official website of SuperForex - Superforex.com, we will find out that the organization under study provides Forex trading services in Britain. In addition, SuperForex provides software for financial operations.
Our experts studied the SuperForex website, got acquainted with the terms of operations, tried to get demo access to the programs, analyzed the existence of official papers, the region of registration of the company.
With the help of this data, we will find out whether SuperForex is a scam or not?
In addition, we will tell you how not to fall for the bait of scammers, about their algorithms of actions. We will provide you with the information you need to keep your money safe.
SuperForex is based offshore
The main call that says that SuperForex are criminals is the region of registration. According to the documents, the organization is registered in the Marshall Islands, which is already suspicious, since SuperForex operates in England. Offshore regions are popular with scammers due to the absence of the need to comply with the law and supervision.
In addition, this region does not have permissions to work on Forex.
Also, when our experts tried to identify the address, mentions of the owners and management of Superforex.com, they could not find anything.
This already hints that Superforex.com is an illegal online broker, interaction with which will result in large financial losses.
No data about the owners of Superforex.com found
After analyzing the official website, our employees have not been able to find any credible information about the directors of SuperForex. No address, no phone numbers or other means of communication.
As a rule, this means that real directors are trying to hide information about themselves in order to elude responsibility for their actions. If one of the employees of SuperForex manages to be exposed, then everything will end there, and the real heads of the fraudulent company will remain free.
SuperForex, website - Superforex.com, is valid for less than thirty days
The Superforex.com website speaks of serious experience in the Forex financial market.
The main way to check any site is to get data about its domain name. As a rule, they record the age of the domain, the contact details of the owner.
In our case, the SuperForex domain name is valid for less than 30 days, and all data about the person who owns it is hidden. Another evidence that SuperForex director is trying to keep anonymity.
Such a desire can be understood, but not when it comes to a financial company that works as an intermediary between a trader and the Forex market.
At the same time, SuperForex themselves assure potential users that they have been working effectively in the Forex market for quite a long time.
SuperForex does not have a test period
It is a common practice for online brokers to give users a test version of the software so that they can get familiar with the interface and try their hand at Forex transactions with virtual money.
Unfortunately, on the Superforex.com website, we did not find any information about the test period, the opportunity to try out the software.
We think that the management of the SuperForex organization most likely does not plan to give clients trial access to the software, since some of them are able to suspect a scam.
Online broker Superforex.com operates with a negative balance
Official companies that operate on Forex do not use a negative balance in their work. By law, a broker trader cannot spend more than what is currently on his balance sheet. In those rare situations when the balance goes negative, the loan must be repaid not by the trader, but by the company that provided the services.
Therefore, official Internet brokers do not use a negative balance in their work.
However, Superforex.com provides its clients with work with a negative account, that is, on credit.
Why is this needed?
To drive the user into debt and extort to repay the loan. This is one of the most common scam methods used by criminals.
In the event that this has already happened, it must be remembered that scammers have no way to knock out finances in accordance with the laws of Britain. Any methods of pressure on you are considered criminal. The most that scammers can do is call, write threatening letters.
You cannot work with Superforex.com, as any agreements will turn into expenses.
Superforex.com operate with a credit ratio of one to four hundred or more
Already, it is clear that SuperForex are scammers. However, let's point out one fact, namely the existence of too much leverage.
The credit ratio is the ratio of the finances of users and brokers at the conclusion of a trading operation. It allows you to close large trades to clients who do not have the appropriate funds available.
In order to protect traders in the Forex market, in developed countries, legislation provides for the use of leverage with the largest ratio of one to thirty, in rare cases fifty.
At the same time, SuperForex uses a credit leverage of one to four hundred to make money on the Forex market.
This attitude is allowed in Switzerland, as firms registered in this country enjoy great confidence. But SuperForex is not registered in this state.
In fact, SuperForex cannot trade in the Forex market with such a credit ratio, due to the high risk to users. So, this is only used to force the user not only to invest as much of their funds as possible, but also to drag him into loans.
Regional subdivisions of SuperForex
It is considered prestigious for every financial company to have local branches in developed countries, even if the activity is carried out only in Britain. Therefore, SuperForex informs that in addition to an impressive number of awards, there are local branches in the UK, Australia and other civilized countries, and thousands of experienced professionals.
It is easy to check the reality of these divisions. After all, there are specialized structures that control the actions of brokers. In the UK it's FCA, and in Australia it's ASIC.
Because of this, an official organization must have official papers from these or other organizations that will prove their right to provide services for trading operations in the Forex financial market, determine the level of responsibility.
However, after checking the relevant websites, our specialists could not find them. Which once again confirms the suspicions.
Registration on Superforex.com requires the transfer of personal data
As we said earlier, SuperForex does not have a test period, and therefore, in order to gain access, you must immediately pay the minimum deposit to SuperForex bandits. In addition, access to Superforex.com's personal account is possible only upon completion of identity verification.
This means that SuperForex requires its users to transfer such data as:
- Information about an individual;
- Information about the permanent place of residence (scans of utility bills);
- Information about the place of work, qualifications, experience.
In addition, with the first payment, criminals can gain access to personal account data.
Combined, this information could allow criminals to hang a loan on a gullible client, or carry out other shady activities.
Since you need to transfer your personal data to register on the Superforex.com website, our experts have not been able to get access to the SuperForex personal account or programs for making money on the Forex financial market.
Reviews about SuperForex
An extremely important point of exposing SuperForex is the analysis of customer reviews.
A detailed analysis of the search results on the Internet gave the following information:
- Most of the references to SuperForex on the Internet are lies. These are the same positive reviews and mentions of a custom type;
- All true mentions and comments about SuperForex are bad. Our employees could not find plausible references from former users of Superforex.com, which would mention big earnings, productive work.
- Negative reviews are caused by illegal activities, theft of deposits, creation of credit.
Because of this, SuperForex reviews say that this broker is a criminal.
Contact details and papers of SuperForex
Analyzing the information on Superforex.com, our experts found a lot of dubious digital documents that can be easily created using a graphics editor. They are not confirmed by official companies, which means they cannot be trusted.
If a broker is not associated with regulatory firms, then its traders simply have nowhere to turn for help.
On the "Contacts" page, our specialists identified a phone number. It turned out that it had already been used by an illegal broker. There are also many reviews on the web about fraudulent activities associated with the phone number listed on Superforex.com.
Withdrawing money from Superforex.com
Are you going to make money with the help of the Forex market online broker? Make sure you can take money from him.
Having studied the trading agreement on the SuperForex website, our experts did not find specific information about the methods of withdrawing funds. In addition, our experts saw a description of punishments for prolonged account inactivity, but did not find information about the size. Since the bandits do not work in the legal field, it will not be possible to challenge these fines.
Because of this, if the user has stopped working with SuperForex, they can call and send messages demanding to pay a fine.
How does SuperForex operate?
The method of searching for new users that SuperForex uses is also alarming.
Fake profiles on social networks are used for advertising, in which fake bloggers spread information about how they instantly managed to make a profit by making transactions on the Forex financial market through SuperForex. Non-existent people demonstrate expensive cars and real estate, travel to resorts, and other manifestations of a prosperous life.
Non-existent people promise quick earnings, for which you do not need to learn or put a lot of effort.
When a potential user contacts scammers, SuperForex employees inform about the possibility of a quick profit, and also about the unique abilities of their software, which allow you to immediately earn a big profit.
Further, various tricks are used to get as much finance from the client as possible. For example, a fake profit can be created for a client in order to motivate them to transfer more investments.
If trading on Forex turns out to be negative, the representative of the organization will offer to invest even more to compensate for the losses.
SuperForex employees act according to guidelines developed by experienced deceivers. Fraudsters analyze information about a trader in order to put pressure on weaknesses and get even more investment.
One way or another, all this will come to one of the results:
- If you want to get money before you get into debt, they will draw fines for you, close your account, and do everything to force you to transfer more;
- If you allow scammers to drive the account into debt, there will be threats, scammers will extort the fictitious loan back.
Another method to earn income for SuperForex may be the transfer of your personal data to third organizations. Probably, after that, information about you can be purchased for a small amount of money on some anonymous service on the shadow Internet.
For sure, because of this, all kinds of criminals, managers, etc. will spam you more often. You can also wait for letters from SuperForex accomplices, who will begin to offer a "return" of lost deposits, of course, for a fee.
Since SuperForex does not operate in a regulated field and remains incognito, they cannot be forced to comply with applicable laws in England. The leaders of the criminal company skillfully hide and, at best, the police will be able to figure out one of the "workers".
Can I work with SuperForex?
It is forbidden!
Only if you are going to transfer finances to scammers, then transfer them to a good deed.
Let's briefly list the facts saying that SuperForex are swindlers:
- No official registration;
- Lack of a test period;
- There is no information about the owners of the organization;
- Phone number identified in fraudulent transactions;
- Negative balance;
- Leverage greater than one in 50;
- Negative reviews;
- False data on the website.
This completes the review of SuperForex. Obviously, SuperForex are scammers.
A complete list of unscrupulous brokers, that we do not recommend working with is available here.
