SuperForex review - scammers disguised as brokers
The online broker SuperForex, which operates in England, is considered a scammer with a bad reputation.
When we go to the official website of SuperForex - Superforex.com, we will find that this company provides intermediary services for working on Forex in the territory of England. SuperForex also provides services for financial transactions.
Our specialists looked through the SuperForex website, got acquainted with the working conditions, made attempts to get at least test access to the software, examined the availability of official documents, the place of residence of the organization.
With the help of the received data, we will figure out: Is SuperForex a scam or not?
In addition, we will explain to you how not to fall into the network of scammers, about their methods of work. We will provide you with all the information you need to keep your money safe.
SuperForex is located in an offshore country
The first call that says that SuperForex are scammers is the country of residence. According to the documents, the company is registered in the Marshall Islands, which is already suspicious, since it operates in England. Offshore regions are popular with scammers due to the lack of legislation and regulation.
In addition, this state does not have the rights to trade in the Forex financial market.
Also, when our experts tried to find the physical address, data about the owners and management of SuperForex, they failed to find anything.
It also demonstrates that Superforex.com is a criminal Internet broker, working with which can result in large financial losses.
Could not find information about Superforex.com management
Having studied the official website, our experts failed to find any plausible information about the organizers of the SuperForex organization. No legal address, no telephone or other methods to get in touch.
As a rule, this means that the actual owners are trying to hide information about themselves in order to elude responsibility for their crimes. And even if one of the SuperForex employees can be identified, then everything will end with this, and the organizers of the criminal firm will remain at large.
SuperForex, the official website - SuperForex, is valid for less than thirty days
The official website of Superforex.com speaks of serious experience in the Forex financial market.
The most common method for checking any website is to obtain domain information. Usually, they record the age of the domain, data for the connection of its owner.
In a particular case, the SuperForex domain exists for less than thirty days, and the data on the legal or natural person owning it is hidden. Another proof that SuperForex owners are trying to preserve their anonymity.
This desire can be understood, but not when it comes to a financial institution that acts as an intermediary between a client and the Forex financial market.
At the same time, Superforex.com themselves assure their potential users that they have been successfully operating in Forex for quite a long time.
Superforex.com does not have a demo period
It is a common practice for Internet brokers to give users a test version of the services in order for them to get acquainted with the interface, to try out the possibilities in trading on the Forex financial market with a fake currency.
Unfortunately, on the official website of Superforex.com, we did not find any mention of a demo period, an opportunity to try out the software.
Most likely the organizers of the organization Superforex.com are simply not going to provide customers with demo access to their software, as some of them may begin to suspect a scam.
Broker SuperForex operates with a negative balance
Legal organizations that operate in the Forex financial market do not use a negative balance in their work. By law, a broker user cannot spend more than what is currently on his account. In rare cases, when the balance goes negative, its debts will have to be repaid not by the client, but by the company that provided its services.
Therefore, registered online brokers do not use a negative balance in their activities.
However, SuperForex offers traders to work with a negative balance, that is, on credit.
What is it for?
In order to drive the trader into debt and start paying off the debt from him. This is one of the most common methods of deception used by financial scammers.
If this happens, it must be remembered that scammers do not have the opportunity to knock out finances under UK law. Any methods of influencing customers are criminal. The most that scammers are capable of is to disturb with calls, write letters with demands.
It is impossible to work with Superforex.com, because the agreements will result in new losses.
Superforex.com operates with a leverage of 1 to 400 or more
At this point, it becomes clear that SuperForex are bandits. However, we point out one nuance, namely, the presence of too much leverage.
The credit ratio is the ratio of the finances of clients and online brokers when concluding a transaction. Leverage makes it possible to carry out large trading transactions for traders who do not have the appropriate funds.
To protect Forex users, in developed regions, the current legislation provides for the use of leverage with the largest ratio of one to 30, in rare cases 50.
At the same time, SuperForex uses a credit ratio of one to 400 for trading on the Forex financial market.
A similar ratio is legalized in Switzerland, since firms registered in this state enjoy considerable confidence. However, SuperForex is not registered in this country.
In fact, SuperForex has no right to work on the Forex financial market with such a leverage, due to the high risk for users. Actually, this is done only in order to force the trader to give away more of his money, but also to drive him into debt.
Local branches of SuperForex
It is considered solid for every company to have local offices in developed countries, even if the work takes place exclusively in Britain. So SuperForex informs that in addition to many awards, there are regional offices in England, Australia and other civilized regions, as well as thousands of experienced professionals.
Checking the availability of these representations is quite simple. After all, specialized structures are known that regulate the activities of online brokers. In England, this is FCA, and for example, Australia - ASIC.
Accordingly, a law-abiding organization must have permits from these or other organizations that confirm their right to provide services for making money on the Forex financial market, and determine the level of responsibility.
However, after analyzing the profile websites, we did not find them. Which once again confirms our fears.
To register on Superforex.com, you need to transfer confidential data
As we said earlier, SuperForex does not have a demo period, and therefore, in order to gain access, you must immediately pay the SuperForex bandits a minimum deposit. In addition, it is possible to create a Superforex.com personal account only upon completion of user verification.
This means that SuperForex requires clients to provide information such as:
- Information about an individual (passport, birth certificate);
- Information about the permanent place of residence (receipt for a communal apartment);
- Data about qualifications, place of work, experience.
In addition, during the initial transfer, scammers are able to access card data.
As a result, this data may enable scammers to issue a loan to a deceived trader, or to carry out other illegal frauds.
Since registering on the Superforex.com website requires you to submit your personal information, we never got access to the SuperForex personal account or Forex trading applications.
Reviews about SuperForex
The most important point of exposing SuperForex is the analysis of user reviews.
A thorough study of the issuance in search engines yielded the following information:
- Most of the reviews and mentions of SuperForex on the Internet are lies. These are similar positive mentions and custom-type comments;
- All true mentions and comments about SuperForex are negative. We have not been able to find true references and comments from Superforex.com users, which speak of decent earnings and successful work.
- Negative mentions and comments are related to illegal actions, theft of money, artificial creation of debt.
Therefore, reviews about SuperForex indicate that the online broker in question is a criminal.
Contact details and papers of SuperForex
After analyzing references on Superforex.com, we saw a lot of dubious digital papers that can be easily made using a graphics editor. They are not confirmed by official companies, which means they cannot be trusted.
If an Internet broker is not associated with regulatory companies, then its clients simply have nowhere to turn for help.
On the "Contacts" page, our experts found a phone number. It turned out that it had already been used by an illegal online 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 a Forex broker? Make sure you can take money from him.
Having studied the client agreement on the SuperForex website, we did not find clear information about the methods of withdrawing money. In addition, our experts saw a mention of punishments for a long period of inactivity of a personal account, but did not find data on their amounts. Since the criminals do not work in the official field, it is impossible to challenge these fines.
Therefore, if the user has ended cooperation with SuperForex, they can start calling and writing messages demanding to pay a fine.
How does SuperForex work?
The method of searching for new users, which SuperForex uses, also raises concerns.
For promotion, false accounts are used in social networks, in which fake users report how they instantly managed to get rich by trading on Forex with the help of SuperForex. Non-existent people flaunt expensive cars and jewelry, travel to resorts, and other indicators of a rich life.
Bots promise a rapid increase in income, for which you do not need to study or make a lot of effort.
When a user gets in touch with scammers, SuperForex employees confirm the possibility of quick earnings, and also about some unique abilities of their software, which will make it possible to instantly earn a big profit.
After that, all sorts of manipulations go into work, making it possible to receive the maximum number of deposits from the trader. For example, a client may be given a small profit to inspire them to invest more money.
When work on the Forex market becomes negative, a personal manager will offer to invest more to compensate for the debt.
SuperForex employees act according to the guidelines created by professional deceivers. Criminals analyze information about the user in order to act on specific places, to lure out even more money.
One way or another, it all boils down to one of the options:
- If you are going to receive investments before you find yourself in loans, you will be fined, banned from using the account, and everything will be done to force you to pay more;
- If you allow scammers to drive the account into debt, there will be threats, scammers will extort a fake loan back.
Another way to make a profit for SuperForex can be the transfer of your personal data to third parties. We think that, as a result, it will be possible to buy complete information about you for a modest amount of money on some anonymous community on the shadow Internet.
For sure, because of this, various scammers, sales managers, etc. will start spamming you more often. You can also expect calls from SuperForex accomplices, who will offer to "receive" lost deposits, of course for a reward.
Since SuperForex does not operate in a regulated field and remains anonymous, they cannot be forced to respond under the current legislation in England. The leaders of the shadow organization are skillfully hiding and in the best case, the police will be able to catch one of the "administrators".
Can I work with SuperForex?
Only if you plan to transfer finances to the bandits, then it is better to transfer them to a good deed.
Let's briefly state the facts saying that SuperForex are scammers:
- No official registration;
- No trial period;
- There is no information about the owners of the company;
- Phone number found in shady schemes;
- Negative balance;
- Credit ratio greater than one to 50;
- Negative reviews;
- False information on the website.
Detailed review of SuperForex is over. It is clear that SuperForex are criminals.
We have compiled a complete list of brokers that you cannot work with.