SuperFunded Forex Broker

Superfunded Broker - Complete Information Guide

1. Broker Overview

Superfunded is a proprietary trading firm established in February 2023. The company is headquartered in Melbourne, Australia, and operates under the legal name Prop Trade Tech Pty Ltd. As a private entity, Superfunded aims to democratize access to the global financial markets for traders, offering funding opportunities and trading capital to both novice and experienced traders.

Superfunded primarily serves retail traders looking for funding solutions in the forex market. The firm has quickly gained traction in the trading community due to its competitive profit-sharing model and straightforward evaluation process. With a focus on enhancing trading accessibility, Superfunded provides traders with the chance to manage accounts of up to $200,000 after passing an evaluation phase.

The company's development has been marked by significant milestones, including its partnership with Eightcap, an ASIC-regulated broker, which enhances its trading infrastructure. This collaboration allows Superfunded to offer a wide range of trading instruments, including forex pairs, commodities, and indices, thus catering to diverse trading styles and strategies.

Superfunded operates on a proprietary trading model, where traders use the firm's capital to trade in the financial markets. This model alleviates the financial burden on traders, enabling them to focus on developing their trading skills and strategies without the constraints of personal capital limitations.

2. Regulatory and Compliance Information

Superfunded operates under the regulatory framework of the Australian Securities and Investments Commission (ASIC). While Superfunded itself is not a broker-dealer and thus not directly regulated, it partners with Eightcap, which is an ASIC-regulated entity. This partnership ensures that all trading activities are conducted in a secure and compliant environment.

The regulatory license number for Eightcap is AFSL 391441, which allows it to provide financial services in Australia. The license is effective and covers a broad range of trading activities, ensuring that Superfunded operates within the legal boundaries set by Australian law.

Client funds are held in segregated accounts, providing an additional layer of security and ensuring that traders' capital is protected. Superfunded adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, which are essential in preventing fraud and ensuring the integrity of the trading environment.

3. Trading Products and Services

Superfunded offers a diverse range of trading products, primarily focusing on forex trading. The firm provides access to over 500 trading instruments, including:

• Forex Currency Pairs: Major pairs such as EUR/USD, GBP/USD, and USD/JPY, along with a selection of minor and exotic pairs.
• CFD Products: Including indices, commodities (like gold and silver), and energy products (such as Brent and WTI oil).
• Cryptocurrencies: A variety of popular cryptocurrencies are also available for trading.

The firm regularly updates its product offerings, ensuring that traders have access to the latest market instruments. Superfunded's services cater primarily to retail clients, but it also provides institutional services, including white-label solutions for firms looking to offer trading under their brand.

4. Trading Platforms and Technology

Superfunded supports the widely recognized MetaTrader 4 (MT4) platform, which is known for its user-friendly interface and robust trading tools. The platform allows traders to execute trades efficiently and access advanced charting and technical analysis features.

In addition to MT4, Superfunded also offers a web-based trading platform, ensuring that traders can access their accounts from any device without needing to download software. For mobile trading, Superfunded has developed applications compatible with both iOS and Android, enabling traders to manage their accounts and execute trades on the go.

The execution model employed by Superfunded is primarily ECN, which ensures that traders receive competitive spreads and fast order execution. The firm's trading infrastructure is supported by servers located in Equinix data centers, enhancing execution speed and reliability.

Superfunded also supports API access, allowing traders to implement automated trading strategies and integrate third-party trading tools to enhance their trading experience.

5. Account Types and Trading Conditions

Superfunded offers several account types to accommodate different trading needs and strategies. The key features of these accounts include:

• Standard Account Conditions:

• Minimum deposit: Varies by account size.

• Spreads: Competitive spreads starting from 0 pips for major currency pairs.

• Commission: Based on the trading volume and account type.

• Advanced Account Types:

• VIP and professional accounts may be available, offering enhanced features and lower trading costs.

• Special Accounts:

• Islamic accounts are available for traders who require Sharia-compliant trading conditions.

Superfunded provides a demo account policy, allowing traders to practice their strategies without risk. The leverage offered ranges from 1:30, depending on the asset class, with minimum trade sizes set according to the account type.

Overnight fees apply to positions held beyond the trading day, and traders are advised to check the specific terms associated with their accounts.

6. Fund Management

Superfunded supports a variety of deposit methods, making it convenient for traders to fund their accounts. Accepted methods include:

• Bank Transfers
• Credit/Debit Cards
• E-wallets such as Skrill and cryptocurrencies.

The minimum deposit requirement varies by account type, with the lowest starting at $129 for the smallest account size. Deposit processing times are typically within 1-3 business days, depending on the method chosen.

Superfunded does not impose any deposit fees, making it attractive for traders looking to minimize costs. Withdrawal methods include bank transfers and e-wallets, with withdrawal processing times averaging 2 business days. However, traders should note that the first withdrawal can only be requested after 30 days of trading on the live account.

Withdrawal fees may apply depending on the method, and traders are encouraged to review the fee structure before initiating withdrawals.

7. Customer Support and Educational Resources

Superfunded offers customer support primarily through email and an online contact form. While there is no live chat or telephone support, the firm aims to respond promptly to inquiries. Customer support is available during standard business hours in the Australian time zone.

The platform supports multiple languages to cater to its diverse client base. However, educational resources are somewhat limited, with the firm not providing extensive training materials or webinars. Traders seeking educational content may need to look elsewhere for comprehensive trading education.

Superfunded does offer market analysis services, including daily market updates and research reports, to assist traders in making informed decisions. Additionally, trading tools such as calculators and economic calendars are available to enhance the trading experience.

8. Regional Coverage and Restrictions

Superfunded primarily serves the Australian market but aims to expand its reach globally. The firm has a presence in various regions, allowing it to cater to a diverse clientele. However, certain countries are restricted from accessing Superfunded's services, including:

• United States
• North Korea
• Sudan
• Syria
• Turkey

Traders from these regions are unable to open accounts or participate in the trading programs offered by Superfunded. The firm is continuously evaluating its regional strategies to enhance its global footprint while adhering to regulatory requirements.

In summary, Superfunded is a promising proprietary trading firm that offers a straightforward evaluation process, competitive profit-sharing, and access to a wide range of trading instruments. With its partnership with an ASIC-regulated broker and a focus on trader-friendly policies, Superfunded aims to empower traders to succeed in the financial markets.