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Score

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/10
The WikiFX Score of this broker is reduced because of too many complaints!

SQUAREDFINANCIAL

Cyprus|10-15 years| Benchmark D|
Regulated in Germany|Retail Forex License|MT4/5 full license|Ireland Common Financial Service License Revoked|Suspicious Overrun|High potential risk|Offshore Regulatory|

https://www.sqfin.sc/

Website

Rating Index

Benchmark

Benchmark

D

Average transaction speed (ms)

526.9

MT4/5

Full License

SquaredFinancial-Live2

United Kingdom
MT4
24

Influence

B

Influence index NO.1

Italy 7.44
The WikiFX Score of this broker is reduced because of too many complaints!

Benchmark

Speed:B

Slippage:B

Cost:B

Disconnected:AAA

Rollover:D

MT4/5 Identification

MT4/5 Identification

Full License

24
Server Name
SquaredFinancial-Live2 MT4
Server Location United Kingdom

Influence

Influence

B

Influence index NO.1

Italy 7.44

Surpassed 75.79% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+44 1615291334
support@sqfin.com
https://www.sqfin.sc/
Commercial House 1, Office no 4, Eden Island, Mahe, Seychelles
WikiFX Risk Alerts 5
Previous Detection : 2024-03-28
  • The number of the complaints received by WikiFX have reached 19 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • IrelandCBI (license number: C39679) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

SQUAREDFINANCIAL · Benchmark
Average transaction speed(ms)
526.9
The highest transaction speed(ms)
219
The highest speed of opening positions(ms)
375 Poor
The highest speed of closing position(ms)
219
The lowest speed of opening positions(ms)
1461 Good
The lowest speed of closing position(ms)
1657
Ranking: 120 / 133
Test user 114
Orders 1,188
Ocuppied margin $619,624 USD
Data Source WikiFX Data provide
Updated: 2024-03-27 01:03:SS

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Pyramid scheme complaint
Expose
Unable to withdraw

THEY DELETED MY MONEY

Hello, I was making a transaction with a company called Squared, and then they sent me an irrelevant e-mail and deleted my money. They unfairly canceled my entire profit portion by giving a ridiculous reason and mentioning prohibited transactions. And I do not accept this. There was important data in America on 05.01.2024 and I made a profit in this way, then I continued my transactions, but they did the deletion on 09.01.2024, I want the necessary action to be taken, I am experiencing unfair victimization...

2024-01-10 19:21
Others

Unreasonable deductions from profits

I opened an account with Squared Financial in August 2023 to trade gold. I kept losing money while playing by myself, and finally withdrew my gold at the end of 2023 and planned to stop playing. Then I met a teacher who taught me how to play gold, so I started trading gold again on March 5, 2024. The daily deposit was US$5,000. On March 6, 2024, the teacher took us to trade. We played 5 times, won 4 times and lost once, with a total profit of 4,112.4 US dollars. However, on March 7, 2024, the profit and return were deducted from Square Financial. A total of US$4,614.9 was deducted as commission. Other friends who played with me did the same transactions on other company platforms, but nothing happened. Only Squared Financial deducted the commission. I complained to their relevant staff, but there was no reply. In the end, I had no choice but to withdraw the money.

2024-03-18 15:26
Unable to withdraw

Complaint about Profit Write-off

I am the owner of account number 125558 at Squar ed Financial. I invested 2731.81 dollars in the compa ny on 01.03.2024. Then I started trading and my tra ding style was quite normal. By the end of my third day of trading, I had made a total profit of $3304. 0 n 08.01.2024, I requested a withdrawal of 3000 doll ars. On 09.01.2024, a total of 3304 USD profit was deleted from my account due to trading abuse and I was notified that I had to withdraw my principal mo ney. I absolutely deny this. Trading in my acce IS completely consistent with normal market. ts. These are attached with proof.

2024-01-14 18:09
Scam

Scaming with partners and clients

Hope you are doing well, my name is Waqas Khan marketing director Drforexofficial and we have also some sites like www.topbrokersreview.com. I used to work for forex as sales Team leader till 2020 in Cyprus . I am writing as I personally experienced unethical activity from Squared Financial. Below I will try to share exact details and I have all evidence , including linkedin conversation with BDM, CEO, CFO and also I called on their support but so far I am not able to get answer showing proof of any illegal activities but just Whatsapp communication from BDM that I will get email from compliance. We opened CPA(cost per account) with them in September as I was approached by M Aysraful BDM through LinkedIn . Aysraful offered CPA and we reached to an agreement , through Whatsapp communication we continued our partnership and we were able to send 5 ftds which were qualifed as per agreement . October 15th once It was time for payment Aysraful mentioned that I missed point and I need to send at least 10 ftds to get paid as per agreement . I checked agreement once again and agreed for same , following month I was able to send 11 Ftds out of 10 were qualified . November 15 came but again I didn't get paid , once I follow up with Aysraful he start telling me that your clients used same IP so your clients are abusers. I request to send me proof for same , but instead providing proof I am keep only getting message that compliance will send me an email . It's been 20 days I didn't get any email showing illegal activities from clients and I didn't get paid for no reason . Meanwhile they send me email end of November that my partner account got deactivated. I sent 3 emails to support , compliance , complaint and adding CFO but no answer yet . I have shared articles on different sites and shared same on my LinkedIn , got to know with different sources that they didn't pay many partners also recently few clients approach me and mentioned that their withdrawals stuck with Squared.

2023-12-06 06:25
    Sources

    SQUAREDFINANCIAL · Company Summary

    Registered in Cyprus
    Regulated by CYSEC, BAFIN, BDF, FSA, CNMV
    Year(s) of establishment 10-15 years
    Trading instruments forex, metals, stocks, indices, futures, energies, cryptos
    Minimum Initial Deposit $0
    Maximum Leverage 1:500
    Minimum spread 0.0 pips onwards
    Trading platform MT4, MT5, own platform Squared WebTrader
    Deposit and withdrawal method Bank transfer, VISA, crypto, insta transfer, and more payment methods
    Customer Service Email, phone number, address
    Fraud Complaints Exposure Yes

    It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

    In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

    Pros and cons of SQUAREDFINANCIAL

    Pros:

    • Regulated by several reputable financial authorities, including CYSEC, BAFIN, BDF, FSA, and CNMV

    • Wide range of tradable instruments across seven different asset classes

    • Two types of trading accounts to choose from with different features and requirements

    • Competitive spreads and leverage up to 1:500

    • Multiple deposit and withdrawal methods with quick processing times

    • Variety of educational resources available for traders of all levels

    • Three trading platforms available, with proprietary platform

    • Multilingual customer support available 24/5

    Cons:

    • Limited availability of account base currencies

    • Limited information on the website about the company's history and management team.

    What type of broker is SQUAREDFINANCIAL?

    Advantages Disadvantages
    SQUAREDFINANCIAL offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' trades, SQUAREDFINANCIAL has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients.

    SQUAREDFINANCIAL is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, SQUAREDFINANCIAL acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that SQUAREDFINANCIAL has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with SQUAREDFINANCIAL or any other MM broker.

    General information and regulation of SQUAREDFINANCIAL

    SquaredFinancial is a regulated online trading broker that offers access to trade multiple financial instruments, including forex, metals, stocks, indices, futures, energies, and cryptocurrencies. The company provides various account types, platforms, deposit and withdrawal options, educational resources, and customer support services to cater to the needs of different traders.

    In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.

    General information

    Market instruments

    Advantages Disadvantages
    Diverse range of trading options Potential for information overload
    Ability to diversify investment Difficulty in keeping up with all markets
    Access to different asset classes Requires thorough market research
    Opportunity for higher returns Increased risk with some assets
    Flexible trading options Complex trading strategies with some assets

    SqaredFinancial offers its clients a wide range of trading instruments, covering over 10,000 financial instruments across 7 asset classes. This allows traders to diversify their investments and have access to multiple markets to find trading opportunities. The asset classes available for trading include forex, metals, stocks, indices, futures, energies, and cryptocurrencies. While having access to a diverse range of trading options can provide numerous opportunities for profit, traders must conduct thorough market research and manage the increased risk associated with some asset classes. Additionally, traders must be able to keep up with all markets and may potentially experience information overload. Overall, the vast array of trading instruments offered by SquaredFinancial provides traders with a flexible and dynamic trading experience.

    market instruments

    Spreads and commissions for trading with SQUAREDFINANCIAL

    Advantages Disadvantages
    Low spreads on Squared Elite Commission charges on Squared Elite
    No commissions on Squared Pro Higher spreads on Squared Pro
    Transparent pricing structure
    Competitive overall costs

    Squared Financial offers two types of accounts with varying spreads, commissions, and costs. The Squared Pro account has average spreads of EURUSD from 1.2 pips and does not charge any commission. On the other hand, the Squared Elite account offers lower spreads, starting from 0.0 pips, but charges a $5 commission per trade. Both accounts have a choice of four base currencies - EUR, USD, GBP, and CHF. The pricing structure is transparent and offers competitive overall costs for trading. However, it is important to note that while Squared Elite offers lower spreads, it charges a commission, which may not be suitable for traders who prefer zero-commission accounts. Meanwhile, Squared Pro offers no commissions, but its spreads are relatively higher.

    Trading accounts available in SQUAREDFINANCIAL

    Disadvantages
    No initial deposit requirement for Squared Pro account High initial deposit requirement of $5000 for Squared Elite account
    Competitive average spreads of EURUSD from 1.2 pips for Squared Pro account $5 commission per lot traded for Squared Elite account
    No commissions for Squared Pro account Squared Pro account may have higher spreads compared to other brokers
    Four base currency options available for both account types (EUR, USD, GBP, CHF)

    SquaredFinancial offers two main account types - Squared Pro and Squared Elite. The Squared Pro account requires no initial deposit and has average spreads of EURUSD from 1.2 pips with no commissions. This account also offers four base currency options (EUR, USD, GBP, and CHF). On the other hand, the Squared Elite account requires an initial deposit of $5000 and has average spreads of EURUSD from 0.0 pips, but comes with a $5 commission per lot traded. Like the Squared Pro account, the Squared Elite account also offers four base currency options. While the Squared Pro account may have higher spreads compared to other brokers, the absence of commissions and no initial deposit requirement may be attractive to some traders. However, the high initial deposit requirement for the Squared Elite account may not be feasible for all traders.

    Trading accounts available

    Trading platform(s) that SQUAREDFINANCIAL offers

    Advantages Disadvantages
    Wide range of platforms including MT4, MT5, and Squared WebTrader No proprietary trading platform
    MT4 and MT5 are highly customizable and user-friendly No mobile app for Squared WebTrader
    MT4 and MT5 offer advanced charting and trading tools
    Access to automated trading with expert advisors and custom indicators

    Squared Financial offers a variety of trading platforms including the popular MetaTrader 4 and MetaTrader 5 platforms as well as their own Squared WebTrader. Both MT4 and MT5 are highly customizable and user-friendly, offering advanced charting and trading tools, access to automated trading with expert advisors and custom indicators. Squared WebTrader offers traders the ability to trade from any browser with no download required. However, there is no proprietary trading platform offered by Squared Financial, and there is no mobile app available for the Squared WebTrader platform. Overall, the platform dimension offers a wide range of options and user-friendly features for traders.

    image.png

    Maximum leverage of SQUAREDFINANCIAL

    Advantages Disadvantages
    Enables traders to potentially increase profits Increases the potential risk of losses
    Allows traders to control larger positions with a smaller amount of capital May lead to overleveraging and larger losses than the account balance
    Gives traders more trading flexibility and opportunities Can cause emotional trading due to the potential for large profits or losses
    Can enhance the efficiency of trading strategies May result in margin calls and forced liquidations of positions

    The maximum leverage offered by SQUAREDFINANCIAL is up to 1:500, which means that traders can control a position size up to 500 times larger than their account balance. While this may increase potential profits, it also increases the potential risk of losses. Traders should be aware of the risks associated with high leverage and use it carefully to avoid overleveraging and margin calls. However, the high leverage offered by SQUAREDFINANCIAL can provide traders with more trading flexibility and opportunities, allowing them to potentially enhance the efficiency of their trading strategies. It is important to note that high leverage can also cause emotional trading due to the potential for large profits or losses.

    image.png

    Deposit and Withdrawal: methods and fees

    Advantages Disadvantages
    Multiple payment options available Withdrawals may take several days to be processed
    Deposit and withdrawal processes are simple and straightforward Withdrawals can only be made via the same method used for deposits
    Fast processing time for withdrawal requests Some payment methods may have fees associated with them
    Back Office team processes withdrawal requests within 2 working days
    Bank transfers are typically processed within 24 working hours

    SquaredFinancial offers a range of payment options for deposit and withdrawal, including bank transfer, VISA, crypto, and insta transfer, making it easy for traders to manage their funds. The deposit and withdrawal processes are straightforward, and the Back Office team processes withdrawal requests within 2 working days. However, it is important to note that withdrawals can only be made via the same method used for deposits, and some payment methods may have fees associated with them. Additionally, while withdrawal requests are processed quickly, it may take several days for the funds to be credited to your account depending on the payment method used. Overall, SquaredFinancial provides a convenient and efficient payment system for traders.

    deposits and withdrawals

    Educational resources in SQUAREDFINANCIAL

    SQUAREDFINANCIAL offers a variety of educational resources to help traders improve their skills and knowledge. The trading guides and articles provide clear explanations on trading concepts and strategies, while market insights and analysis can help traders make informed trading decisions. Access to trading FAQs can also provide quick answers to common trading questions. However, some educational resources may not be comprehensive enough for advanced traders, and may require a significant time commitment to fully utilize and understand. Additionally, some educational resources may be generic and not specific to individual trading needs, and may become outdated quickly in a rapidly changing market.

    educational resources

    Customer service of SQUAREDFINANCIAL

    Advantages Disadvantages
    24/5 customer support via telephone and email No 24/7 customer support
    Limited social media support No live chat support
    Headquarters located in Seychelles

    SQUAREDFINANCIAL offers customer support through telephone and email, available 24/5. The company's headquarters is also located in Seychelles, which may offer local customers a sense of security. However, the lack of 24/7 customer support may not be ideal for traders who need assistance outside of regular business hours. In addition, there is no live chat support available and the company's social media support is limited. Overall, the customer care dimension of SQUAREDFINANCIAL is satisfactory, but there is room for improvement in terms of expanding customer support channels and increasing availability.

    customer support

    Conclusion

    In conclusion, SQUAREDFINANCIAL is a well-regulated forex broker that offers a wide range of trading instruments and account types with competitive spreads and commissions. The company provides several trading platforms, including the popular MetaTrader 4 and MetaTrader 5, and offers a maximum leverage of up to 1:500. The deposit and withdrawal process is simple and straightforward, with a variety of payment methods available. The educational resources provided by SQUAREDFINANCIAL are also a great benefit for both new and experienced traders. Additionally, the company's customer care is available through multiple channels, including phone and email support. Overall, SQUAREDFINANCIAL appears to be a reputable forex broker, offering a comprehensive trading experience for traders of all levels.

    Frequently asked questions about SQUAREDFINANCIAL

    • Question: Is SquaredFinancial a regulated forex broker?

    • Answer: Yes, SquaredFinancial is a regulated forex broker. The company is registered in Cyprus and is regulated by several financial regulatory bodies, including CYSEC, BAFIN, BDF, FSA, and CNMV.

    • Question: What are the trading platforms offered by SquaredFinancial?

    • Answer: SquaredFinancial offers its clients the MetaTrader 4, MetaTrader 5, and Squared WebTrader trading platforms.

    • Question: What are the account types available at SquaredFinancial?

    • Answer: SquaredFinancial offers two account types: the Squared Pro account and the Squared Elite account. The Squared Pro account has no minimum deposit requirement, while the Squared Elite account requires an initial deposit of $5,000.

    • Question: What is the maximum leverage offered by SquaredFinancial?

    • Answer: SquaredFinancial offers a maximum leverage of up to 1:500.

    • Question: What are the deposit and withdrawal methods available at SquaredFinancial?

    • Answer: SquaredFinancial offers several deposit and withdrawal methods, including bank transfer, VISA, crypto, insta transfer, and more. Withdrawal requests are processed within 2 working days by the Back Office Team.

    • Question: Does SquaredFinancial offer educational resources for traders?

    • Answer: Yes, SquaredFinancial offers a series of educational resources, such as trading guides, educational articles, market insights, and trading FAQs.

    • Question: Where is SquaredFinancial's headquarters located?

    • Answer: SquaredFinancial's headquarters are located at Commercial House 1, Office no 4, Eden Island, Mahe, Seychelles.

    News

    The Investor lost both principal and profit because of a broker named Squared Financial

    ExposureThe Investor lost both principal and profit because of a broker named Squared Financial

    2024-01-17 16:56

    One unfortunate investor, Sinan, hailing from Turkey, recently found himself in a distressing situation with Squared Financial, a brokerage platform. Sinan shared his harrowing experience with WikiFX, shedding light on how he lost both his principal and hard-earned profit due to what he claims is commercial misconduct by Squared Financial.

    WikiFX
    2024-01-17 16:56
    Exposure
    The Investor lost both principal and profit because of a broker named Squared Financial
    SquaredFinancial's $150,000 Prize Bonanza in IB Regional Contest

    NewsSquaredFinancial's $150,000 Prize Bonanza in IB Regional Contest

    2024-01-09 18:22

    SquaredFinancial's latest endeavour—the IB Regional Competitions—enticing Introducing Brokers across Asia, GCC & MEA, and Africa with prizes exceeding $150,000, fostering growth and rewarding excellence in client referrals and trading volume.

    WikiFX
    2024-01-09 18:22
    News
    SquaredFinancial's $150,000 Prize Bonanza in IB Regional Contest
    Squared Financial Launched its mobile app

    NewsSquared Financial Launched its mobile app

    2023-11-20 17:02

    Squared Financial launched its mobile app, which is designed for Android and iOS devices. Users can download it for free on the Apple Store and Google Play Store.

    WikiFX
    2023-11-20 17:02
    News
    Squared Financial Launched its mobile app
    CySEC Takes Action Against Ayers Alliance, BCS (Cyprus) for Non-Compliance

    NewsCySEC Takes Action Against Ayers Alliance, BCS (Cyprus) for Non-Compliance

    2022-04-20 11:51

    CySEC, the Cypriot financial market regulator, maintains its war on noncompliance, announcing enforcement action against two more regulated entities on Tuesday, Ayers Alliance Financial Group Limited and BrokerCreditService (Cyprus) Limited.

    WikiFX
    2022-04-20 11:51
    News
    CySEC Takes Action Against Ayers Alliance, BCS (Cyprus) for Non-Compliance

    User Reviews

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    User comment

    12

    Comments

    Write a review

    jhde
    more than one year
    The strategy manager I chose at SQUAREDFINANCIAL has performed excellently in terms of monthly return (averaging a 17% monthly investment return on the opening capital). Based on my experience with other brokers I have used, SQUAREDFINANCIAL's deposit and withdrawal speed is second to none. The only challenge I noticed is the inability to edit personal information, such as residential addresses that may change.
    2024-03-20 18:44
    Reply
    0
    0
    Syed Salman Shah
    3-6months
    Dear Traders,I am here to expose this scam broker, squaredfinancial, I register with them in Sept and made a deposit, screenshot has been attached, made profit of 1000, and wanted to withdraw, made the withdrawal request and company declined the request, they terminated my account, both the proofs are attached to this post, I am going to take legal action against their company, and i will come to expo with T-Shirt printed that squaredfinancial is scam broker, everyone is requested to avoid and also share this post on facebook forex related groups and also with their friends and family.
    2023-11-01 21:57
    Reply
    0
    0
    Majid Abdul Malak
    6-12months
    My account number is 122007, i made profit of 1100, they have cancelled my trades and closed my account, and is not ready to pay, help me expose this scam broker, they called me, told me if i posted against them they will not even my initial deposit, so please help me THEY ARE SCAMMERS
    2023-10-28 00:35
    Reply
    0
    0
    A大大324
    3-6months
    This is a super broker and I will continue to trade here
    2023-10-16 22:45
    Reply
    0
    0
    xysr007
    more than one year
    一个字,差。 平仓价格错误,已经不能用滑点来形容。 我做天然气平仓时间是 2023.10.06 15:56:34 ,1分钟K线 2023.10.06 15:56 最低价格都是3.421, 我平仓价格应该是在3.423附近,但平仓后变成3.354,这个价差对天然气来说是很大的(从附件图片你们能看到价格的相差程度)。这个差价导致平仓瞬间,浮盈由9000美金变成7620美金。但他们不愿赔偿,说市场波动剧烈,实际上我平仓的时间段,非数据公布时段,市场波动并不剧烈,平仓的前后一分钟价格也都正常。
    2023-10-14 12:35
    Reply
    0
    0
    David352
    6-12months
    I have traded with SquaredFinancial for 2 years now and can honestly say I have never traded with a better broker. They are available every time I need them. The execution and spread is great, they're very friendly on livechat. My account manager is always keeping me up to date. I highly recommend the broker.
    2023-06-19 15:58
    Reply
    0
    0
    FX1215805162
    more than one year
    SquaredFinancial broker offers a sea of trading instruments, charging low fees, and customer support can be available 24/7. I highly recommend you to open a SquaredPro account first to give it a shot, and it won’t disappoint you.
    2023-02-20 09:45
    Reply
    0
    0
    ゞ→唯ㄨ﹎
    more than one year
    Sure enough, Forex trading has to be with these brokers who have many years of trading experience! Their customer service team is super professional, and they really have helped me a lot, AWESOME!!!
    2023-02-07 18:21
    Reply
    0
    0
    天天贸易
    more than one year
    This company has been established for more than 15 years, and it still holds multiple regulatory licenses. I have not found information on the Internet that it is a scam. I am going to trade with it, do you have any friends who have traded with it to share their experience?
    2022-12-15 09:42
    1
    0
    0
    Xingo
    more than one year
    SQUAREDFINANCIAL This company looks great, it has several regulatory licenses, which means that its safety factor is very high... The most important thing I value when trading foreign exchange is safety. I am now going to open a demo account to see how its trading conditions are.
    2022-12-14 16:48
    Reply
    1
    0
    abdulkhale
    more than one year
    abdulkhale
    2022-10-12 22:36
    Reply
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