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April 21, 2020

Question:What is SuperForex's Deposit Protection Program? How does it work?

How does SuperForex’s Deposit Protection Program can protect you?

Answer:

What is SuperForex’s Deposit Protection program?

SuperForex’s Deposit Protection Program is a special feature which allows you to insure your deposit before opening a deal and claiming back its full amount as a bonus if you suffer a loss.

All customers with all types of accounts are eligible for this service.

The Deposit Protection program is time-specific and depends on the amount of your deposit.

In other words, the bigger your deposit is, the longer it can stay protected.

The duration of the protection is as follows:

Deposits from $50 to $100 1 day deposit protection
from $101 to $500 5 days deposit protection
from $501 to $1000 10 days deposit protection
from $1001 to $5000 14 days deposit protection

You can extend the period of Deposit Protection by making a new deposit before the initial protection expires, as long as the new deposit has a longer protection than the first one.

If during the period when the Deposit Protection is active (specified above) you happen to lose more than 90% of your deposit funds, SuperForex would refund them to you as bonus funds.

To claim this refund you should contact our Support Team via email, and they will process your request within three (3) business days.

Visit SuperForex Official Website

Fund Withdrawal Condition of Deposit Protection Program

The compensation itself works like a bonus and cannot be withdrawn, but can be traded on.

Profit earned from trading using the deposit compensation can be withdrawn as long as it does not exceed the amount of the deposit.

The number of withdrawal operations is unlimited.

The minimal withdrawal amount is $10.

In order to withdraw profit, the Customer must unblock it according it to the following proportion: $2 per 1 traded lot (2:1).

For example, to withdraw $10 the Customer must have at least 5 traded lots.

Upon withdrawal some amount of the compensation will be cancelled. The amount cancelled is determined by the following formula:

C = (X/Y) * (the amount of the 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 40% bonus and other types of bonuses, if available, have been deducted.

Visit SuperForex Official Website

Example of SuperForex’s Deposit Protection

For example, let’s say you make a deposit on February 5 of $600 – this amount gets a protection of 10 days, until February 15.

Then if you make a new deposit of $300 on February 7, that gets 5 days of protection until February 12.

In this case nothing changes because your second deposit doesn’t extend the first one (since February 12 is before February 15).

This means your first deposit will be protected until February 15, as initially stated.

Let’s imagine a different situation – what if your second deposit was not $300, but $600?

This amount earns 10 days of protection, so if you make that on February 7, it will be protected until February 17.

This is 2 days after your initial protection expires.

In this case both of your deposits will be protected until February 17, as it is the later date.

Visit SuperForex Official Website

Terms and Conditions of SuperForex’s Deposit Protection Program

Before joining the SuperForex’s Deposit Protection Program, make sure that you know the conditions as below.

  1. All clients are eligible for Deposit Protection, as long as they meet the criteria specified in this agreement.
  2. The No Deposit, Easy Deposit, and Points Bonus are not compatible with the Deposit Protection Program. Customers using those deposits are not eligible for compensation.
  3. The Customer must have suffered a 90% or more loss on their deposit during the duration of the Deposit Protection program in order to be eligible for compensation.
  4. The duration of the Deposit Protection depends on the amount of the deposit and the distribution is as follows:
    • Deposits from $50 to $100 – 1 day deposit protection;
    • from $101 to $500 – 5 days deposit protection;
    • from $501 to $1000 – 10 days deposit protection;
    • from $1001 to $5000 – 14 days deposit protection;
    • Above $5001 – 20 days deposit protection.
  5. Superforex reserves the right not to count deals with results from minus 0.05 USD to plus 0.05 USD/EQ when counting the amount of traded lots. In case such trades are detected, SuperForex reserves the right to recalculate the amount of lots upon withdrawal of the profit and adjust the amount of withdrawal money funds, in accordance with the terms of the bonus (1 traded lot = $2/EQ). The rest of the money funds will be returned to the trading account of the client.
  6. To withdraw their profit, the Client should make a deposit equal to or greater than the credited compensation itself within 30 days from the moment of getting the compensation. Before this moment withdrawing any profit is not possible. In the absence of such a deposit, the compensation together with all profit earned on it will be cancelled 30 days after the date of receiving the compensation.
  7. SuperForex has the right to refuse to refund the Customer’s deposit in the following instances:
    • If the client systematically violates the rules of the User Agreement during the active period of the Deposit Protection program.
    • If during the last 30 days there have been two or more violations of the User Agreement by this client.
    • If more than 70% of the closed deals on the client’s account within the last 90 days have had negative results.
    • If the customer has one or more of these bonuses on their account: No Deposit Bonus, Easy Deposit Bonus, Point Bonus. These are not compatible with the Deposit Protection program.

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