SuperForex Fees and Minimum Deposit - TU Expert review
Assessing the size of the fees is the second most important factor for choosing a broker after reliability. The lower the fees, the more diverse their structure, the more beneficial it is to trade with the broker. Minimum deposit is another important factor that may tip the scale in favor of a certain broker. This is particularly important for novice traders, who cannot afford to invest a lot at the beginning. Traders Union analysts have prepared an analysis of SuperForex fees and also assessed the size of its minimum deposit.
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.
Key types of fees on Forex
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Forex market:
-
Spread – the difference between the buy and the sell price of an asset.
-
Commission per lot.
-
Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
SuperForex Commissions and Fees
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 |
Why is it important to assess minimum deposit?
It is important for beginners and traders with limited financial capabilities to assess the minimum deposit of the broker. Different brokers offer different levels. Some companies focus on working with professional traders and their entry threshold is usually in the thousands or tens thousands of US dollars. Brokers that work with beginners offer low minimum deposit. It could be $500 or $100, or even $1.
In addition minimum deposit may differ depending on the account type. This is also an important factor to analyze. If a broker offers a low entry threshold, traders can get better conditions and still not spend too much money on funding their account.
SuperForex Minimum deposit
Guide on how traders can start earning profits
Since the broker offers 11 real accounts, making the right selection at the beginning is crucial. STP accounts use the straight-through processing protocol, where orders are sent directly to liquidity providers. ECN accounts utilize an Electronic Communication Network, eliminating intermediaries in the information exchange chain between the trader and other market participants. Mini accounts have the lowest minimum deposit and allow trading with the smallest trades. Standard accounts offer universal trading parameters and are suitable for most traders. Swap-free accounts are designed for the broker's clients who adhere to Islamic principles. Crypto accounts enable trading on cryptocurrency markets. Finally, the Pro accounts involve substantial investments from the trader and provide access to an extended range of trading opportunities. When choosing an account, the trader should consider their available capital, trading preferences, and actual experience.
Account types:
Typically, traders start by opening a demo account, which allows them to familiarize themselves with the platform and practice preferred strategies. Afterward, they move on to a real account, choosing one that aligns with their trading preferences.
Brokers similar to SuperForex
When analyzing SuperForex, it is important to compare it with other similar companies. Before you choose a broker, it is important to compare its trading conditions with competitors. Traders Union analysts have prepared a comparison of the minimum deposit and other trading conditions of SuperForex and other brokers.
Comparison of SuperForex with other Brokers
| SuperForex | RoboForex | Pocket Option | Exness | Tickmill | InstaForex | |
|---|---|---|---|---|---|---|
|
Trading platform |
MT4 |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, MT5, Tickmill Mobile App |
MT4, MultiTerminal, Mobile Trading, MT5, WebTrader |
|
Min deposit |
$1 |
$10 |
$5 |
$10 |
$100 |
$1 |
|
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
|
Trust management |
No |
No |
No |
No |
Yes |
Yes |
|
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
|
Spread |
From 2 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0 points |
From 0 points |
|
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
|
Execution of orders |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Instant Execution |
|
No deposit bonus |
$100 |
No |
No |
No |
$30 |
No |
|
Cent accounts |
No |
Yes |
No |
No |
No |
Yes |
Expert Opinion
When comparing FTMO to similar prop firms, its conditions seem generally competitive and a balanced offering. With reasonable fees, enough leverage for many styles and an achievable cost starting from €155, it presents a solid choice for prop traders to evaluate further. There are also no added commissions on top of the spread which keeps trading costs low.
Some traders may find the testing requirements to be on the strict side, but this ensures people have proven themselves capable of managing risk before gaining access to larger funded accounts.
Overall, for those interested in prop trading and wanting the guidance of a funded program, FTMO offers a decent option to consider. Just be prepared to treat the challenge period like the job interview that it is.
Conclusion
Analysis of SuperForex shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
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FAQs
Is there trading without fees?
No. A broker may charge a minimum fee, but it will still be a fee. However, the company’s main source of revenue could, for example, be non-trading fees.
If the fees are low, how does a broker make money?
As a rule, brokers with low fees earn on the fees thanks to high trading volume and also non-trading fees.
Is there a dependence between the fees and the deposit amount?
If a broker offers several account types, there is often a dependence. The more money you deposit, the higher the level of your account will be, and, accordingly, the lower the fees.
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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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
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.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!