SuperForex Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of SuperForex trading signals. You will learn what kinds of trading signals SuperForex offers and what the conditions for using them are.
Short introduction of SuperForex
The SuperForex broker offers ECN (Electronic Communications Network) and STP (straight-through processing) accounts with access to the following markets: currency pairs, cryptocurrencies, stocks, indices, oil, and metals. The STP protocol is an automated electronic data-transferring process that does not involve manual intervention. There are standard, mini, crypto, and swap-free accounts available. The STP group also has a unique no-spread account where only a trading commission is charged. Depending on the account, the spread is floating or fixed, starting from 0 pips. The account also determines the minimum deposit, maximum leverage, available bonuses, and other parameters. The minimum deposit for the ECN Standard Mini account is $5. The maximum leverage is 1:3000. The broker has its Forex Copy Trading service, which is compatible with most accounts. The partnership is available for legal entities only. Among the key features are powerful and free analytics, comprehensive educational courses, dozens of bonuses, promotions, and regular contests.
| 💰 Account currency: | USD, EUR, GBP, CNY, MYR, IDR, RUB, ZAR, NGN, INR, THB, BRL, BDT, EGP, CHF, MXN, JPY, PHP, HKD, SGD, PEN, CLP, TZS, KES, UGX, ZMW, RWF, AED, VND, XAF, PLN, AUD, CAD, JOD, GHS |
| 🚀 Minimum deposit: | $5 |
| ⚖️ Leverage: | Up to 1:3000 |
| 💱 Spread: | Floating (from 0 pips) or fixed |
| 🔧 Instruments: | Currency pairs, cryptocurrencies, stocks, indices, oil, metals |
| 💹 Margin Call / Stop Out: | No |
SuperForex Pros and Cons
👍 Advantages of trading with SuperForex:
•A wide selection of real accounts allows traders to find the optimal option according to their preferences.
•There is a free demo account, and the minimum deposit is below the market average, providing an optimal entry threshold for beginners.
•Regardless of the trader's level, educational materials and technical and fundamental analysis tools offered by the broker are beneficial.
•Hundreds of assets from six different groups combined with high leverage provide unprecedented profit potential.
•Traders work through the classic MT4 trading platform, with no trading restrictions, and the platform's operations are 100% transparent.
•The copy trading service allows registration for signal providers and investors to receive additional income.
•Customer support is available via phone, email, LiveChat, and messaging platforms, operating round the clock in multiple languages.
👎 Disadvantages of SuperForex:
•Clients of the broker can only trade through MetaTrader 4; other trading platforms are not available.
•Traders from Australia, Ukraine, North Korea, and some other countries cannot work with this broker.
•The company's activities are regulated by the International Financial Services Commission of Belize (IFSC), which is not the most popular regulator.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
SuperForex Trading Signals
Usually, brokers charge their clients both spreads and trading commissions, but sometimes there is no commission. Additionally, there may be withdrawal fees. Spreads can be either floating or fixed, standard or raw. In most cases, a floating spread is more advantageous than a fixed one, although this greatly depends on market conditions. Similarly, raw spreads are smaller than standard spreads, but the broker's commission is always higher with raw spreads. SuperForex offers different spread types, depending on the chosen account type. The minimum spread is 0 pips, although in most cases, it is significantly higher. The company does not charge trading commissions, which significantly reduces clients' costs. As for withdrawal fees, they almost always exist and depend on the withdrawal method used by the trader. For example, withdrawing to a Visa card has a fee of $10 + 3%, while using Zamtel Vodacom, it is fee-free.
| Account type | Spread (minimum value) | Withdrawal commission |
| STP | Fixed from $2 | Present with most withdrawal methods |
| ECN | Floating from $2 | Present with most withdrawal methods |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that SuperForex does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
How are the signals provided via a newsletter?
A trader regularly receives trading signals to his/her email or personal messages in the account. As a rule, they are provided in the form of a report with screenshots of technical analysis.
How do I test the signals if I can’t do it on a demo account?
In this case, it is best to test them using the minimum deposit. You will need to check the minimum deposit level of the broker.
Can trading signals be provided for free?
Brokers may offer free and paid trading signals.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.