Should You Trade with SuperFXTrades?
SuperFXTrades provides a wide range of trading products and platforms such as MetaTrader 4 and 5. However, that should not be enough to sign up with this broker. SuperFXTrades claims that it is located in the United Kingdom, but it does not have a license from the Financial Conduct Authority or the FCA. This right off the bat is a reason not to trade with SuperFXTrades.
There Are Some Things You Should Know Before Trading with SuperFXTrades?
The main thing to know is that not only is SuperFXTrades unlicensed, but it seems eager to encourage people to believe that it is legal to offer trading services in the UK when it does not. According to British law, every financial services must be regulated by the FCA or they are not operating legally. No matter what trading platforms and products this broker offers, risking trading with an unlicensed broker is not worth it.
We Found the Following Problems With SuperFXTrades:
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Not regulated
- Misleading information
- No transparency
- No contact information
- Bad reviews
What if You Have an Account with SuperFXTrades?
If you have an account with SuperFXTrades we urge you to close it immediately and ask for a withdrawal of your funds. If the broker does not return your funds, you should report it and file a claim. ReportScamOnline will assist you with your claim and can help you retrieve your funds from the blockchain or through a chargeback or wire recall.