SuperForex Review + Bonus Review
we've looked at superforex $50 bonus to see whether it's legit or scam

SuperForex Review + Bonus Review

There are some brokers out there promising no-deposit bonus and many of them don’t hold to their promise and give you some excuses for that. I think SuperForex is one of them and their $50 no-deposit bonus is not real.

I registered with them and sent my documents and they verified the documents but they rejected me when I requested the no deposit bonus. So to answer the question, do they give you the no-deposit bonus? my answer is, no SupperForex won’t give you the no-deposit bonus, at least according to my experience.

However; as long as I want this review to be fair, something happened that might cause the rejection. I can’t say that for sure because they don’t give you any reasons for the refusal.

The no-deposit bonus is a welcome bonus that is provided for the new clients of a broker who haven’t registered with them before. It’s the same rule for all the brokers that offer such a bonus.

Most brokers verify this by asking you some documents such as a photo of your passport or any other ID cards, and a proof of address document showing your address and name on it such as utility bills.

This is the same for Supperforex broker but they apparently have another verification method which is detecting new clients by their IP address. I’m not really sure if this is an excuse to reject you or a legit one because I think my VPN was on when registered with them so they got a different IP address.

Obviously, they either don’t like VPN or any other types of proxies, or they really don’t give you the no-deposit bonus.

To be honest, I’m not sure the VPN subject is the case because they could have asked me to turn off my VPN so they can detect my location. The customer service seemed very cooperative and solved all my problems, even sped up the process of document verification, until they decided not to allocate the bonus to me.

I didn’t even need such a bonus and it was a case study for writing a series of reviews for this blog about brokers that give no-deposit bonus and I told them that, but they didn’t seem cooperative anymore and bailed out.

If you had the same problem with them and were rejected to receive their no-deposit bonus, you are welcome to write your comment at the bottom of this post.

On the other hand, if you are reading this post because you’ve decided to get the bonus, you can go to their no-deposit bonus page and give it a try. You can also tell others about your experience after that by commenting here.

But before that, make sure to read the following review which contains the rules of Superforex no-deposit bonus and their other bonuses along with a summary of the broker.

By the way, if you decide to contact them for your problems, do it through live chat because the email version is not a good option. It seems their customer service works better via live chat. As if People in email supporting section don’t like their jobs very much, however, supporters in the live chat are on their toes.

One more thing, they probably have problems with EAs or automated trading so if you want to run an EA, first check with them.

About SuperForex

Superforex entered brokers’ world in 2013 and has provided service to more than 150 countries since then — they don’t accept clients from the US.

They are a Belize-based firm. Belize is a country where a lot of brokers are located because of its taxation system which makes there a tax haven —companies do not pay taxes on earnings from abroad.

They are regulated by IFSC which is not a strong regulation so I think one of their main weak points is their regulation so you should be careful if you decide to open a big account with them.

Other than that, the broker seems to have acceptable conditions. They have several types of accounts and various kinds of payment methods and several bounces, if they’re committed to them of course.

Types of Bonuses

SuperForex claims to offer 6 types of bounces with different conditions.

$50 No Deposit Bonus

As we discussed this one, it’s a $50 welcome bonus given to new clients upon their requests.

Besides what we talked about, there are some rules that you should know before applying for that. Make sure to read them entirely before taking further actions.

Some of the important ones are:

The bounce is not withdrawable but you can withdraw the profits

For being eligible for the bonus, you must send your ID and address information to be verified

The maximum profits that you can withdraw are equal to the bonus — $50.

You have to trade 1 standard lot for every $1 profit you make to be allowed to withdraw that, and the minimum amount you can withdraw is $10. So, you must at least trade 10 lot before withdrawing the profits.

Before withdrawing the profits, they may ask you to write 3 positive reviews about them, really! This is absolutely hilarious and I burst out laughing when I read that for the first time.

You can only withdraw once and after that, the bonus will be canceled. For example, if you make $10 with the rule of 1 lot for each dollar; if you withdraw that $10, you can’t withdraw any other profits if you continue trading afterward because the bonus is canceled.

If you lose the bonus and if you decide to deposit money, make sure to open another account and do not trade with the no-deposit bonus account because that account is already canceled. You’d better talk to them before that.

You can find a complete version of the rules in your cabin after registration. The steps of registration for the no-deposit bonus are on this page.

Dynamic Bonus

This one is a deposit bounce so you must deposit some money first and they give you up to 25% of your money, however, it’s not an instant bonus deposited to your account.

Like the no-deposit bonus you have to redeem that by trading 1 lot for every dollar, but this time you are supposed to be given the bonus itself, not just the profit, and the reason is obvious because you are trading with your own money.

As I said, you can receive up to 25% bonus but it varies regarding your deposit. Every time you deposit, you become eligible for this bonus.

  • From $100 to $500 – the bonus is 20%
  • From $501 to $1500 – the bonus is 15%
  • From $1501 to $3000 – the bonus is 10%
  • Over $3000 – the bonus is 25%

So, for example, if you deposit $100, you can expect to receive $20 but you have to trade 20 lots before all that $20 being released.

Some other rules about this bonus are:

  • You can open several accounts and the bonus is available for every one of them.
  • If you withdraw some amount of your profits before reaching the relevant percentage level, they cancel part of the bonus.

This is the formula they use for this purpose:

[(X/Y) * (the amount of the Dynamic Bonus)] minus [the Released Amount]

Where:

X = the amount that is requested for withdrawal

Y = the current available balance in the account after the amount of the Dynamic Bonus has been deducted

And this is the example regarding to that:

For example, you claimed the Dynamic Bonus and made a deposit of $100 to activate it. According to the chart above, the bonus will be 20% of $100 = $20. In total you have 120$ on your account. Let’s say you make some trades on 2 Lots and get to $200, and you want to make a withdrawal of $50. Let’s use the formula to see how much money will be cancelled from your account:

X = $50

Y = 200 – 20 = $180

Released Amount = 2 lots = $2

=> The cancelled amount = (50/180)*20 – 2 = $3.55

  • Other rules are a bunch of conditions that SuperForex can cancel the bonus at its discretion. You can find the relevant page here.

Easy Deposit Bonus

It’s a one-time bonus that is supposed to provide better conditions for you as a trader with a small amount of money.

In this type of bonus, you’ll receive 1000% of your initial deposit. For example, if you deposit $10, you’ll receive a $100 bonus but your $10 will be a part of the bonus after that. It means, you have $110 credit to trade and you are only allowed to withdraw the profits, not the $110.

Like the no-deposit bonus, here you need to release the profits by trading lots but the condition is harder than the no-deposit bonus.

For every $1 to be released, you must trade 2 lots. For example, if you want to withdraw $10, you have to trade 20 lots.

Like the dynamic bonus, if you withdraw sooner than you reach the end of the bonus, $110, you lose a proportion of the bonus. The formula using for that is:

(Withdrawal Amount/Bonus Profit) * Current Bonus Amount = Cancelled funds

For more information, you can check this page.

Welcome+ Bonus

It’s a bonus that you can request every time you deposit. The first time you deposit, you receive 40% of your deposit as the bonus. For example, when you deposit $100, you receive $40 as a bonus. The second time you deposit, you receive 45% provided that you deposit $500, otherwise you get the same 40% and your previous 40% bonus is canceled, but if you decide to deposit $500, the first 40% remains intact plus another 45% that you receive from your second deposit.

If you decide to deposit for the third time, you receive a %50 bonus this time, providing that you deposit at least $1000. You can do this three times in a row for each account. The first time you get 40%, the second time you get 45% and the third time you get 50%.

I didn’t see any rules regarding lot size but if you withdraw before you get to the bonus level, for example 40%, some part of your bonus will be canceled according to the following formula.

C = (X/Y) * (the amount of the 40% bonus on the deposit)

Where:

C = cancelled amount

X = the amount that is requested for withdrawal

Y = the current available balance in the account after the Welcome+ bonus and other types of bonuses, if available, have been deducted.

For example, you claimed the Welcome+ Bonus and made first deposit of $100 to activate it. The bonus will be 40% of $100 = $40. In total you have 140$ on your account. Let’s say you make some trades and get to $200 and you want to make a withdrawal of $50. Let’s use the formula to see how much money will be cancelled from your account:

X = $50

Y= 200 – 40 = $160=> C = (50/160)*40 = 12.5

So $12.50 will be cancelled from your account after you make your withdrawal.

I think in the above example, if you want to receive the entire bonus, you have to earn $140 profits (deposit+ bonus).

To see the steps of getting this bonus, you can see this page.

60% Energy Bonus

In this type of bonus, you can receive a 60% bonus every time you deposit. There’s a long-winded explanation about the profit you can get from this bonus.

I think they intentionally overcomplicate the rules so you don’t understand what you get but what I basically understand from that was, you can just withdraw the profit you gain from your deposit and the bonus is just for helping you to trade with bigger lots.

But all in all, it may come in handy from a money management perspective or psychology angle, however, that’s true if you are a profitable trader but if you can’t make profits, it just speeds up your losses.

120% Hot Bonus

This bonus is exactly the same as the 60% bonus but you receive more credit this time. Instead of getting 60% of your deposit as a credit, you have 120%.

For example, if you deposit $100, you receive $120 as the bonus so it can make the winning or losing pace even faster.

Compatibility of Bonuses

If you decide to use those bounces, you should know that you can’t combine some of them and use them at the same time. On the other hand, some of them can be applied simultaneously.

  • You can’t use No Deposit Bonus with other bounces
  • You can’t use Easy Deposit with other bounces
  • Dynamic and Welcom+Bonus can be used together
  • %60 Energy and %120 hot bonuses can be used together

SuperForex Overview

In case you’ve decided to give Superforex a try, this is an overview of this broker.

Location: Belize

On-line since: 2013

Regulation: IFSC

Types of Accounts: STP and ECN

Spread: Fixed for STP and floating for ECN

Minimum Account Size: $1

Payment Methods: Bank Wire Transfers (in local currencies for 60+ countries), Skrill, Visa, MasterCard, Neteller, UnionPay, Perfect Money, QIWI, Bitcoin, and more.

Available Countries: 150+ excluding the US

MAX Leverage: 1:1000

Trading Instruments: Forex, Cryptocurrencies, Gold, Metals, Commodities, Oil, Indices (all instruments)

Trading Platform: MT4 (mobile and desktop)

Promotions: $50 No-deposit, Dynamic, Easy Deposit, Welcome+Bonus, 60% Energy, 120% Hot

The Bottom Line

In this review, I tried to look at one of the brokers, Superforex, that claims to give away $50 as a no-deposit bonus to new clients and I explained why I think their claim is not real regarding my experience, however, that might not the same for others.

I looked into their other bounces as well and some of them may benefit you, however, you should read the rules first so that you know what you’ll get.

If you’ve had experience with Superforex, especially about the bounces, you can drop a comment below. If you haven’t opened any accounts with them but you’re going to apply for the $50 bonus or any other bounces, come back later and let us know about your experience.

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