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SquaredFinancial Review 2021

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SquaredFinancial Main Features
☑️
Regulations
CySEC (Cyprus), FSA(SC) (Seychelles)
️🗺
Supported Languages
English, Arabic, Greek
💰
Products
Currencies, Commodities, CFDs, Indices, Stocks, Futures, Crypto
💹
Max Leverage
1:500 (CySEC), 1:500 (FSA(SC))
🖥
Trading Desk Type
Dealing Desk, DMA, ECN, Market Maker, STP
📊
Trading platforms
MT4, MT5
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SquaredFinancial Full Review

“SquaredFinancial is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) and Financial Services Authority (FSA) of Seychelles and offers the ability to trade on more than 70+ financial CFD instruments across Forex, Energies, Metals, Futures, Shares and Indices on the MetaTrader 4 and MetaTrader 5 trading platform for Desktop and Mobile.”

SquaredFinancial was founded in 2016 and is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles. Users can trade on more than 70+ CFD instruments covering Forex, Energies, Metals, Futures, Shares and Indices across two trading accounts called SquaredPro Account and SquaredElite Account. 

These accounts offer a combination of commission-free trading, as well as commission-based trading with raw spreads and leverage up to 1:30 for retail clients and 1:500 for professional clients for the CySEC regulated entity. Users can access higher leverage from the FSA regulated entity.

The broker offers the ability to trade from the MetaTrader 4 and MetaTrader 5 trading platform for desktop and mobile,  as well as connectivity to the myFXbook AutoTrading feature. Users can also access a large range of trader education tools such as videos, eBooks and trading guides, as well as live market news and market commentary. 

Pros: Cons:
  • CySEC and FSA (Seychelles) regulated.
  • Commission-free trading available.
  • myFXbook AutoTrading compatible.
  • Can trade on MetaTrader 4 and MetaTrader 5. 
  • Not available for US or Canada residents.

About the Author

Jitan Solanki
Author
Jitan is a currency trader and an accredited Market Technician with more than 15 years of experience working with fund managers and on several proprietary trading floors. He is regularly quoted in the financial media for his currency market insights and forecasts and is based in London.
Read More

Review sections


SquaredFinancial Video Review

Investor Protection & Regulations

“SquaredFinancial is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles.”

SquaredFinancial is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the name Squared Financial (CY) Ltd, as confirmed on the CySEC register below:

Due to regulatory requirements, the broker segregates client funds from its own and offers a negative balance protection policy for retail categorised clients. The broker also provides further safety of funds and security by being a member of the Investor Compensation Fund and providing ‘Best Execution’ reports that can be found on its website.

SquaredFinancial (Seychelles) Ltd is authorised and regulated by the Financial Services Authority (FSA) of Seychelles. The authorisation has been confirmed and can be found on the FSA’s register.

Tradable Products

“SquaredFinancial offers users the ability to trade on more than 70+ financial CFD instruments covering Forex, Energies, Metals, Futures and Indices.”

SquaredFinancial offers users the ability to trade on a wide range of financial CFD instruments covering Forex, Energies, Metals, Futures, Shares and Indices.

Below is a list of just some of the available markets for trading:

Forex Indices Metals
AUDCAD CHINA50 XAUUSD
CHFJPY FRA40 XAGUSD
EURUSD US30 XPTUSD
Shares Futures Energies
L’Oreal Wheat Brent Crude Oil
Volkswagen Corn WTI Oil
Amazon Soybeans Natural Gas

* Details regarding the available assets are taken from the SquaredFinancial website and trading platform and are correct at the time of this review.

Trading costs such as spreads, commissions and overnight funding (swap) rates vary depending on the instrument being traded and account type opened and are covered further down this review.

Account Opening

“SquaredFinancial offers two main types of trading accounts called the SquaredPro Account and SquaredElite Account. The broker also offers demo trading accounts and Islamic swap-free accounts.”

SquaredFinancial offers two main types of trading accounts which provide a variety of different features and benefits with some highlighted below:

SquaredPro Account SquaredElite Account
Commission (FX) Zero $5 per lot
Spreads From 1.2 pips From 0.0 pips
Swap-free Available Available
Min.Deposit 0 USD 5,000 USD
Markets CFDs on Forex, Energies, Metals, Futures and Indices
Base Currency EUR, USD, GBP, CHF
Leverage 1:30 retail / 1:500 professional

Each account comes with different features and services, as well as different commissions and spreads which is covered further in this review. The broker also offers Islamic swap-free accounts and users can also trade from a demo trading account. Accounts can be opened easily from the broker’s website.

Upon the opening of a live account, users will need to fill in their personal details, financial details, employment information and provide proof of identity and proof of address documentation. This can all be managed from the client portal area where users can also access deposits, withdrawals and platform downloads.

The broker does not accept clients from certain regions including the USA.

Deposit & Withdrawals options

“SquaredFinancial offers users the ability to deposit and withdraw funds, fee-free using a variety of methods including credit or debit card, bank wire transfer, Union Pay, AliPay, Skrill and Neteller.”

SquaredFinancial offers users the ability to deposit and withdraw funds, fee-free, via a variety of methods such as credit and debit cards, bank wire transfers, Union Pay, Skrill, Neteller and AliPay.

Card Payments

Deposits and withdrawals can be made fee-free in USD and EUR using Visa, MasterCard and Maestro and are processed in 1 hour.

Bank Transfer

Bank wire transfers can be made fee-free in USD, EUR and GBP via Natwest, or in USD and EUR via Bank of Cyprus but are subject to a minimum withdrawal amount of 150 USD/EUR/GBP and are processed in 2-3 business days.

E-Wallets

Deposits and withdrawals can be made via Neteller and Skrill in USD and EUR fee-free with instant processing times.

Web & Desktop Trading Platforms

“SquaredFinancial offers users the ability to trade on MetaTrader 4 and MetaTrader 5 desktop versions for Windows.”

SquaredFinancial offers users the ability to trade on the globally recognised MetaTrader 4 and MetaTrader 5 trading platforms for desktop users on Windows.

The MetaTrader 4 platform offers a variety of features including:

  • Access to real-time quotes
  • Multiple asset classes
  • Trading signals
  • Multi-chart timeframes and analysis tools
  • MQL4 language for auto trading

The MetaTrader 5 platform offers a variety of features including:

  • 21 different viewable timeframes
  • 38 inbuilt trading indicators
  • A built-in economic calendar
  • One click trading as well as advanced pending orders
  • MQL5 language for auto trading

Below is a screenshot of the MetaTrader 4 trading platform which is covered in more detail in the video review.

Mobile Trading Platforms

“SquaredFinancial offers users the ability to trade on the globally recognised MetaTrader 4 mobile trading app for Android and iOS users.”

SquaredFinancial offers users the ability to trade on the globally recognised MetaTrader 4 mobile trading app for Android and iOS users. Download links can be found in the Apple App Store or Google Play Store.

With the MetaTrader 4 mobile trading app users can:

  • Trade directly from their phone
  • View real-time prices of multiple asset classes
  • Access technical trading indicators
  • Receive news

The MetaTrader 4 mobile trading app provided by SquaredFinancial is covered in more detail in the video review.

Trading Features

“SquaredFinancial offers additional trading features from the MetaTrader Market place, as well as a social trading connection to myFXbook for auto trading and account mirroring services.”

SquaredFinancial provides additional trading features, such as:

  • Access to the MetaTrader Marketplace for programming and automated trading services.
  • Access to myFXbook AutoTrade feature for social trading and account mirroring services.

Commissions & Spreads

“Trading costs with SquaredFinancial vary depending on the market being traded and the account type opened, offering a blend of commission-free and commission-based trading.”

Trading costs with SquaredFinancial vary depending on the market being traded and the account type opened.

SquaredPro Account SquaredElite Account
Commission (FX) Zero $5 per lot
Spreads From 1.2 pips From 0.0 pips

SquaredPro Accounts are commission-free on Forex pairs with spreads starting from 1.2 pips and the SquaredElite Accounts are commission-based at $5 per lot for Forex pairs with spreads starting from 0 pips.

The broker also provides typical spread information and swap information on their website for all the instruments available to trade for both account types, as shown below.

SquaredFinancial Forex Trading

SquaredFinancial Equities Trading

  • US Equities – 0.1% with minimum 5$
  • German Equities – 0.15% minimum 5$
  • French Equities – 0.15% minimum 5$
  • UK Equities – 0.15% minimum 5$

Bonus & Promotions

“In accordance with CySEC regulatory restrictions, SquaredFinancial does not offer any bonuses or promotions. However, SquaredFinancial Seychelles offers a cashback promotion.’’

Due to regulatory restrictions, European regulated brokers are not permitted to offer any bonuses or promotions. As such, SquaredFinancial regulated by CySEC does not run any bonus or promotional schemes.

However, SquaredFinancial Seychelles is able to offer bonus and promotions but these can change over time. Currently, this entity is offering a cashback offer where traders trade and receive $2 cashback per lot but only for accounts opened via SquaredFinancial Seychelles.

Customer Support

“SquaredFinancial offers customers 24/5 support in multiple languages via Live Chat, Telephone, Email, a Help Center and an FAQ section.”

SquaredFinancial offers customers 24/5 support via Live Chat, Telephone, Email, a Help Center and an FAQ section. Users simply need to click the Support icon at the top of the broker’s website.

After clicking on the Live Chat icon, I was redirected to another website where I was able to connect to an agent within a few minutes after entering my name and email address. The live agent answered my questions within a few minutes of signing on, as shown below:

Contact Information:

  • Address: 205, Arch. Makarios Avenue, Victory House, 5th Floor 3030 Limassol, Cyprus
  • Email: support@squaredfinancial.com
  • Phone: +357 25260333
  • Social Media:

Research

“SquaredFinancial offers a variety of trader research and analysis and includes Live Market News, Daily Market Outlook, Commentary and an Economic Calendar.’’

SquaredFinancial offers trader research and analysis in the form of an economic calendar, a live market news section, a commentary section and daily market outlook articles.

The articles are detailed and also provide technical analysis of different markets using charts. The commentary reports are also detailed and provide analysis of all major markets and is suitable for both beginner and advanced traders.

Trader Education

“SquaredFinancial provides a wide range of trader education resources in the SquaredAcademy. This includes video tutorials, trading guides, a glossary and trading FAQs.’’

SquaredFinancial provides a wide range of trader education resources in the SquaredAcademy. This includes video tutorials, trading guides, a glossary and trading FAQs. The video tutorials section covers a wide range of trading videos for beginner and advanced traders, including market analysis and trader psychology.

The trading guides are also comprehensive and cover a wide range of topics as shown below:

Trading Experience

“SquaredFinancial provides a simple and transparent trading offering for both beginner and advanced traders. Users can choose from commission-free and commission-based trading accounts to trade on from the globally recognised MetaTrader 4 trading platform.”

From our observations, SquaredFinancial provides a simple, transparent trading offering suitable for both beginner and advanced traders. Users can choose from a variety of accounts to trade commission-free or commission-based on a wide variety of markets.

Traders can trade from the globally recognised MetaTrader 4 trading platform for desktop and mobile. SquaredFinancial also allows users to connect to the myFXbook AutoTrade feature to access mirror trade or social trading services. The broker also provides live market analysis and research articles, as well as a large range of education materials.

FAQ

Is SquaredFinancial regulated?

Yes, by CySEC and FSA (Seychelles).

Where is SquaredFinancial based?

SquaredFinancial is based at 205, Arch. Makarios Avenue, Victory House, 5th Floor 3030 Limassol, Cyprus.

How does SquaredFinancial make money?

SquaredFinancial makes money mainly through spreads, swaps and commissions on certain tradable asset classes and accounts.

How do I deposit in SquaredFinancial account?

Funds can be deposited into a trading account via credit and debit cards, bank wire transfers, Skrill, Neteller, UnionPay and more.

What is the min. deposit for SquaredFinancial?

The minimum deposit is $0.

How do I withdraw money from SquaredFinancial?

Withdrawals can be made from SquaredFinancial via credit and debit cards, bank wire transfers, Skrill, Neteller, UnionPay and more.

What is the max leverage in SquaredFinancial?

The maximum leverage offered by SquaredFinancial is 1:30 for retail traders and 1:500 for professional traders.

How do I open an account with SquaredFinancial?

An account can be opened at the click of a button on the SquaredFinancial website and can be done in just a few steps.

Does SquaredFinancial use MetaTrader?

Yes, MetaTrader 4 and MetaTrader 5. 

Conclusion

“SquaredFinancial is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) and Financial Services Authority (FSA) of Seychelles and offers the ability to trade on more than 70+ financial CFD instruments across Forex, Energies, Metals, Futures, Shares and Indices on the MetaTrader 4 and MetaTrader 5 trading platform for Desktop and Mobile.”

SquaredFinancial was founded in 2016 and is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles. Users can trade on more than 70+ CFD instruments covering Forex, Energies, Metals, Futures, Shares and Indices across two trading accounts called SquaredPro Account and SquaredElite Account. 

These accounts offer a combination of commission-free trading, as well as commission-based trading with raw spreads and leverage up to 1:30 for retail clients and 1:500 for professional clients for the CySEC regulated entity. Users can access higher leverage from the FSA regulated entity.  

The broker offers the ability to trade from the MetaTrader 4 and MetaTrader 5 trading platform for desktop and mobile,  as well as connectivity to the myFXbook AutoTrading feature. Users can also access a large range of trader education tools such as videos, eBooks and trading guides, as well as live market news and market commentary. 

  • CySEC and FSA (Seychelles) regulated. 
  • Commission-free trading accounts available. 
  • Wide range of commentary and market analysis.

Can trade on MetaTrader 4 and MetaTrader 5.

broker

Your capital is at risk.

See SquaredFinancial Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
Cyprus
Foundation Year
2016
Regulations
CySEC (Cyprus), FSA(SC) (Seychelles)
Publicly Traded
No
Number Of Employees
50-100
Trading Desk Type
Dealing Desk, DMA, ECN, Market Maker, STP
Trading platforms
MT4, MT5
Restricted Countries
United States
Supported Languages
English, Arabic, Greek
Max Leverage
1:500 (CySEC), 1:500 (FSA(SC))
Deposit Options
Wire Transfer, Credit Card, Skrill, Neteller
Withdrawal Options
Wire Transfer, Credit Card, Skrill, Neteller
Cryptocurrencies
Bitcoin Cash, Bitcoin, Litecoin, Ripple, Ethereum
Fixed Spreads
No
Commission On Trades
Yes
Products
Currencies, Commodities, CFDs, Indices, Stocks, Futures, Crypto
Mini Account
No
Premium Account
Yes
Demo Account
Yes
Islamic Account
No
Segregated Account
Yes
Managed Account
Yes
Institutional Account
Yes
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