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SquaredFinancial

Cyprus|5-10 years|
Regulated in Cyprus|Market Making(MM)|MT4/5 full license|Regional Brokers|High potential risk|

https://www.squareddirect.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

4
Server Name
SquaredDirect-Demo MT4
Server Location Germany

Contact

+1 +44 2031371393
support@squareddirect.com
https://www.squareddirect.com/
https://www.facebook.com/squaredfinancial

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+1 +44 2031371393

Broker Information

More

Company Name

Squared Financial (CY) Limited

Company Abbreviation

SquaredFinancial

Platform registered country and region

Cyprus

Company website
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WikiFX Risk Alerts 3
Previous Detection : 2024-02-24
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • The SeychellesFSA regulation (license number: SD024) claimed by this broker is suspected to be clone. Please be aware of the risk!

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SquaredFinancial · Company Summary

BASIC INFORMATION:

SquaredFinancial is an online multi-asset broker based in Limassol, Cyprus. Founded in Ireland in 2005, the broker is owned and operated by SquaredFinancial (CY) Limited. The group has offices in Cyprus and the Republic of Seychelles, providing clients with a range of tradeable markets, including energies and indices, that can be traded outside of traditional hours through a network of ECN brokers. Squared Financial Ltd is a forex and CFD broker offering trading services through online and mobile platforms.

REGULATORY INFROMATION: LICENSE

SquaredFinancial is regulated by the Cyprus Securities and Exchange Commission (CySEC) at Cyprus with the regulatory license number of 329/17

SPREADS & LEVERAGE

The spreads and leverage that you are offered as a SquaredFinancial customer will depend on the type of account you open, as well as the financial instruments you choose to trade. SquaredFinancial offers competitive spreads, starting at just 1.2 pips on its commission-free accounts, and 0.0 pips on the accounts that also charge a commission fee for each trade. As with many online brokers, floating spreads are used, so traders should learn to monitor changes in spreads carefully to always be aware of the conditions under which their orders will be executed. Leverage also varies between instruments. On forex, leverage of up to 1:30 is available, which is the maximum allowed under ESMA regulations. This will vary according to the forex pair you are dealing with, of course. For example, the leverage offered on minor or exotic currency pairs is invariably lower than that provided on major pairs. Leverage on other instruments such as indices and metals will generally be lower than on forex, and the leverage offered will also vary within each category, depending on the instrument being traded.

PLATFORM & TOOLS

SquaredFinancial offers the well-respected and consistently popular MetaTrader platform in both its versions – MT4 and MT5 – which offers a great deal of flexibility, and includes automated trading and mobile trading. As fans of MetaTrader will no doubt already know, MT4 and MT5 have a variety of very useful and intuitive features that enhance the online trading experience. The MetaTrader software is widely used and highly respected. It comes with a range of integrated technical indicators, plus the ability to integrate well with a wide range of third-party plugins, giving access to even more advanced tools, charts and indicators. The platform has a clean, intuitive and highly customisable interface, and allows for access to social trading, via tools such as ZuluTrade, and automated trading, using Expert Advisors.

COMMISSIONS & FEES

One of the many features that attract traders to this broker is the convenient zero-commission trading model on the SquaredPro account. Many traders find that the no-commission model makes it easier, or at least more straightforward, to work out trading costs, as the brokers profit is coming directly from the spreads – so this is the main thing that traders need to take into account when calculating the direct cost of each trade. Traders will often find that the spreads on commission-free accounts are so high that they cancel out the benefits of commission-free trading. However, this is not necessarily the case at SquaredFinancial, where the spreads are fairly competitive, starting at just 1.2 pips on major forex pairs, even on the commission-free account.

TRADING HOURS

Trading is open 24 hours a day, 5 days a week. The platform can be used over the weekends for market analysis and account management, but no trading will occur at these times. It should also be noted that different markets and tradeable assets have different opening and closing times.

CUSTOMER SUPPORT

Customer support teams are on hand every hour that trading is open. The customer service team can be contacted using a live chat window located at the bottom right corner of the website or via email, post, telephone.

· Phone: +357 25260333

· Email: support@squaredfinancial.com

· Post: Kedrou 9, Mesa Geitonia, 4004, Limassol, Cyprus

ACCEPTED COUNTRIES

SquaredFinancial accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders cannot use SquaredFinancial from United States, Israel, Japan, Canada, Korea, Belgium.

PAYMENT METHODS

Deposits and withdrawals must be made using the same method, with the following options available:

· Credit/Debit card (Visa & Mastercard)

· Bank transfer

· UnionPay

· Neteller

· Skrill

· AliPay

Transactions are processed instantly from e-wallets while using cards can take up to an hour, and bank transfers up to three business days, depending on the provider. There are no fees implemented by Squared Financial for deposits and withdrawals, however, the bank used for wire transfers may have their own charges.

ACCOUNT TYPES

The two main trading accounts are separated into a ‘Squared Pro Account’ and a ‘Squared Elite Account’. The Squared Pro Account is aimed at the average online trader and offers base currencies of EUR, USD, GBP, and CHF. It is a commission-free account, though it will generally have higher spreads than the Elite account. As it is aimed at the average trader, the deposit minimums are much lower on the Pro account – these start from $0. The Squared Elite Account, as you might have guessed, provides a trading experience that is more suited to professional traders and higher-volume day traders. Much like the Pro account, the base currencies are EUR, USD, GBP and CHF. Unlike the Pro account, the Elite account has a flat commission of $5 per lot. However, the flipside of this is that spreads start from 0.0 pips! In addition to the Pro and Elite trading accounts, SquaredFinancial also provides an Islamic trading account. Also known as swap-free accounts, Islamic accounts benefit from exactly the same trading conditions and terms as the main trading account types. The main difference is that there will be no swap or rollover interest on overnight positions. Islamic accounts also benefit from higher leverage thresholds of up to 1:500.

TRADING TOOLS

· Trading Calculator

Economic Calendar

User Reviews

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6

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Chun1776
more than one year
Disappointingly, Libertex only supports VISA and MasterCards, too limited payment options. What’s worse, withdrawals are too slow. They always let me wait and wait…
2023-02-20 10:47
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0
0
more than one year
thank everyone
2023-01-14 18:58
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0
0
more than one year
good lucky everyone
2023-01-14 18:57
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0
1
Khajornrat Surakhot
more than one year
Stay away!! Do not disclose your personal details. I can confirm all the negative experiences as described below in the comments. I have wasted a lot of my time just trying to register with them because they advertise on their website that they offer an initial deposit bonus. They keep asking for proof of address and Id and reject each time you send them (bank statements, utility bills and etc). In the end, they have all your document copies, and your private and confidential information and rej
2022-11-23 18:33
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0
0
FX1028782487
more than one year
I wanted to open an advanced account, pursing more competitive spreads, but it asks for a high deposit of $5,000, so I quitted. Overall, this broker’s offerings seem quite attractive, actually, I am wondering if I just open a pro account or skip this broker? How do you feel about this broker? anybody who can share his trading experience?
2022-11-23 15:15
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0
1
Ylimhs
more than one year
In my eyes, I think it's a pretty beginner friendly platform! For example, you can try the demo account first without losing real money, study the educational resources... Low leverage is worth mentioning! It is 1:30, a level regulated by many onshore regulators, low for scalpers, but safe for beginners.
2022-11-21 09:34
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0
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