SuperFunded Forex prop firm review - Young and promising prop firms from Australia

SuperFunded Forex prop firm review - Young and promising prop firms from Australia

SuperFunded prop firm offers funded challenges ranging from 6k to 200k USD in funding. The challenge model is a 2-step funded account where traders have to hit profit targets twice, 10% for phase 1, and 5% for the second phase. The payouts are up to 90% which is accessible for free after 2nd withdrawal. Overall, the firm seems attractive and competitive, and we decided to take a closer look at its services.
Therefore, in this SuperFunded review, we will evaluate the firm’s most critical features such as safety, rules, funded options and types, assets, platforms, support, and more. 
 

Pros & cons of SuperFunded prop firm

ProsCons
Is partnered with a regulated Forex broker, EightCapSafety alert: Lacks reviews on the FPA, 15% of Trustpilot reviews are 1-star evaluations
Offers up to 90% profit sharingOnly a 2-step challenge is available
Ongoing 15% discounts are accessibleDoes not allow access to advanced platforms such as MT4 and MT5
Does not impose any time constraints on the assessment stageNo free trial and free resets are available
Access to dedicated prop platforms, DXtrade, and TradeLockerNo support for custom indicators and EAs
Access to diverse markets including Forex, commodities, indices, cryptos 
0 pips spread on major FX pairs with 1:100 leverage 

Quick rating of SuperFunded and its features

FPA ScoreNot yet rated
Year founded2023
HeadquartersMelbourne, Australia
Minimum audition fee66 USD
Fees on withdrawals0 USD
Minimum funded amount6,000 USD
Maximum funded amount200,000 USD
Allowed daily loss5%
Profit target10% (5% for phase 2)
Maximum trailing drawdown10%
Profit sharing (Payouts)Up to 90% (1st withdraw 70%, 2nd 80%)
Trading PlatformsDXtrade, TradeLocker
Available trading marketsForex, Crypto, stocks, CFDs, Oil, Indices, and metals

Safety of SuperFunded

There are no SuperFunded reviews on the Forex Peace Army, which is a downside. On the Trustpilot, the firm has around 30 reviews and 15% are 1-star evaluations. This is not a positive number, and the firm might have some serious issues with safety and reliability. When it comes to experience, SuperFunded was launched in 2023, making it relatively young and inexperienced in its sector. The firm is partnered with a regulated broker, EightCap, which is very good and gets points in this aspect. 

The firm gets a 1.5 score in this section as it lacks trader reviews and experience but is partnered with a regulated broker.

SuperFunded Funding and maximum capital allocation

SuperFunded funded programs lack diversity as the firm only offers a 2-step evaluation model. There are no 1-step or instant challenges offered, which is disadvantageous. SuperFunded funding options include 6k, 10k, 25k, 50k, 100k, and 200k USD. There are no smaller options below 5k, but it is not a big issue. However, the inability to access more than 200k USD capital might deter some investors from using this firm as their main prop trading partner. 

SuperFunded challenge requires traders to hit profit targets twice before they get funded status and start trading for actual profits. 

SuperFunded scaling plan is not available e which is a big downside as traders can not grow their funded accounts to increase maximum funding and profits potential.

Overall, the firm gets a 3.5 score in this section. 

SuperFunded Assets

SuperFunded prop trading assets are diverse and include Forex, Crypto, stocks, CFDs, Oil, Indices, and metals. There are no futures, options, or other asset classes provided for trading, which is a slight downside. The maximum leverage accessible for traders is up to 1:100 which is more than enough to control a substantial buying power.

As a result, the firm gets a 4 score in this section. 

SuperFunded Trading rules and limitations

SuperFunded rules are clearly listed on the website, which is a positive sign. Every rule is accessible in the FAQs section of the website. Here are all the requirements of the 2-step challenge to get funded:

  • Profit target - 10%, 5%
  • Daily loss limit - 5%
  • Maximum drawdown - 10%
  • Minimum trading days - 4 days
  • Consistency rule - 50%
  • EAs allowed - No (trading platforms do not support EAs)
  • Weekend holding - Yes
  • News trading - No
  • Overnight holding - Yes
  • Copy trading - Yes (unless trader copies other SuperFunded client’s trades)

The platforms offered by the firm lack support for custom indicators and automated trading systems, which is a downside for algo traders. The consistency rule is active, meaning no single trade can account for 50% or more of traders’ profits. 

Overall, the firm gets a 3.2 score in this section, as it allows traders to be flexible and deploy many trading strategies with a maximum drawdown of 10%. 

SuperFunded Fees

Fees are important in prop trading, as they define whether beginners can access cheap trading. The firm offers competitive fees from 66 USD, which is below 150 USD but still slightly expensive as there are many reliable and experienced prop firms offering lower pricing on their challenges. Here is the list of all one-time fees for SuperFunded options:

  • Funded amount: 6,000 USD - One-time fee: 66 USD
  • 10k USD - 99 USD
  • 25k USD - 158 USD
  • 50k USD - 298 USD
  • 100k USD - 550 USD
  • 200k USD - 999 USD

While these fees are below 150 USD, they are still slightly expensive as all challenges are 2-step evaluations. When it comes to trading commissions, the firm is partnered with EightCap which offers zero spread accounts with 0 pips spreads on FX major pairs, but there is a commission of 7 USD per lot round turn, which is very flexible. Withdrawals have no commissions, which is also attractive. 

SuperFunded free trial is not available and the SuperFunded free repeat is not accessible either. This is disadvantageous for traders as they can not test trading conditions before purchasing the challenge and there is no possibility to reset the challenge for free. 

Overall, the firm gets a 4 score in this section. 

SuperFunded Platforms

The firm offers access to two popular prop trading platforms, DXtrade and TradeLocker. These platforms are provided via the regulated broker, and they were specifically designed for prop trading, which means they are built inside the trader dashboard and make prop trading management very simple and user-friendly. Mobile trading is available, but EAs are not supported. Despite its relationship with a regulated broker, the firm still does not allow access to advanced platforms like MT4 and MT5, which is a downside. 

As a result, the firm gets a 2.4 score in this section.

SuperFunded Profit-Sharing

SuperFunded profit split is 70% on the 1st withdrawal, 80% on the 2nd, and 90% on the 3rd and beyond, which is very flexible. Withdrawals can be requested every 15 days or twice per month after purchasing the add-on. Without the add-on, traders can only request payouts every 30 days. 

The firm requires traders to trade for at least 30 days (30 trading days) to be eligible for profit withdrawals, which is a serious downside. Withdrawals are processed within 1-3 business days, which is slightly longer than the average 1-2 business days which is widely accepted in the prop and FX trading industry. 

The firm gets a 3 score in this section. 

Education and trading tools at SuperFunded

The firm completely lacks any educational materials including webinars, video courses, and tutorials. There is no trading blog either, which is also a downside. Beginners can not learn and start practicing, which is a downside. There are tools built into the trader dashboard, which is useful.

Overall, the firm gets a 1 score in this section. 

Customer Support at SuperFunded

When it comes to customer support, which is critical in funded trading, the firm only offers live chat and email. There is no support for multilingual support and websites, which is also a downside.

As a result, the firm gets a 2.4 score in this section.

Frequently Asked Questions on SuperFunded

Is SuperFunded legit?

SuperFunded scam is less likely as the firm is partnered with a regulated broker. However, it still lacks trader reviews and has 15% 1-star reviews on Trustpilot. 

Is SuperFunded a good prop firm?

The firm offers competitive conditions including low spreads, flexible platforms, and low pricing but lacks safety slightly. 

What is the minimum SuperFunded fee?

The smallest fee starts from 66 USD for a 6k USD challenge  (2-step), and traders can reduce it with an ongoing 15% discount.