Squared Financial is a Forex broker located in Cyprus, and regulated by high-tier authorities, including CySEC and FSA. This brokerage comes with some attractive benefits, such as access to trading an economic calendar and a zero-spread account type.
Is this broker a good option for you and your trading needs? Let's get to the answer of this question in this comprehensive Squared Financial review.
Company Information & Regulation Authorities
Squared Financial is a multi-asset broker headquartered in Limassol, Cyprus, founded in 2005. What really catches our eye is their solid regulatory framework - they're supervised by two respected authorities:
- CySEC (Cyprus Securities and Exchange Commission) - License #379/17
- FSA Seychelles (Financial Services Authority) - License #SD024
Based in Limassol, Cyprus, this dual regulation ensures strong investor protection through:
- Segregated client funds
- Regular audits and compliance checks
- Negative balance protection
- Transparent pricing structures
The company's head office is located at 205, Arch. Makarios Avenue, Victory House, Block A, 5th Floor, 3030, Limassol, Cyprus.
Squared Financial Summary Of Key Specifics
Like every other review article you can find on TradingFinder, in this section we will provide a table with specifications of the brokerage. Let's break down the essential details you need to know:
Broker | Squared Financial |
Account Types | SquaredPro, SquaredElite |
Regulating Authorities | CySEC, FSA |
Based Currencies | EUR, USD, GBP, CHF |
Minimum Deposit | From 0 |
Deposit Methods | Credit/Debit Cards, E-Wallets, Bank Wire Transfer, Alternatie Payment Methods |
Withdrawal Methods | Credit/Debit Cards, E-Wallets, Bank Wire Transfer, Alternatie Payment Methods |
Minimum Order | 0.01 |
Maximum Leverage | 1:30 |
Investment Options | MAM Accounts, Copy Trading |
Trading Platforms & Apps | MetaTrader 5, Proprietary App |
Markets | CFDs on Forex, Metals, Indices, Futures, Energies, Shares & ETFs, Cryptocurrencies |
Spread | From 1.2 Pips on SquaredPro From Zero on SquaredElite |
Commission | None on SquaredPro $5 per Lot in SquaredElite |
Orders Execution | Market |
Margin Call/Stop Out | 100%/50% |
Trading Features | Economic Calendar, Trading Calculators |
Affiliate Program | Yes |
Bonus & Promotions | None |
Islamic Account | Yes |
PAMM Account | No |
Customer Support Ways | Live Chat, Phone Call, Email, Ticket |
Customer Support Hours | Monday to Friday from 7:00 to 21:00 (GMT+3) |
Account Types Review and Comparison
Squared Financial does not offer much diversity in terms of live accounts, and keeps things simple with two account types: SquaredPro & SquaredElite. In the table below, we will compare them:
Account Type | SquaredPro | SquaredElite |
Min. Deposit | 0 | $500 |
Base Currency | EUR, USD, GBP, CHF | |
Max. Leverage | 1:30 | |
Min. Order | 0.01 | |
Margin Call/Stop Out Level | 100%/50% | |
As you saw in the table, there's not much difference between the two accounts. The main difference is in their spreads and commissions, which we will get to later in the article.
There's also a demo account available for clients on the broker.
Benefits and Drawbacks
A table of pros and cons is a useful material that gives us a better picture of a company's services. Let's look at what makes Squared Financial shine and where they could improve:
Benefits | Drawbacks |
High-Reputation Regulating Authority | No Support Services on Weekends |
No Minimum Deposit on SquaredPro Account | Relatively High Costs in Trading |
Diverse Trading Symbols in Various Markets | - |
Sign Up and Verify on Squared Financial; Quick Tutorial
Registering with the broker might take a little time, but we will help you do it. Here's your quick guide:
- Visit the official website and click "Register" or "Open account";
- Click "Open Live Account"
- Enter your basic personal information and create a strong password;
- Provide additional data about your residence address and identity;
- Answer the financial situation questions.
You have created your account on the brokerage. For identity verification, you will need to provide these items:
- Proof of identity (passport/ID)
- Proof of residence (utility bill)
- Additional documents if requested
Squared Financial Trading Platforms; Applications + Links
The broker offers two trading solutions with several applications on different operating systems. A Quick Overview of Trading Platforms in Squared Financial:
- Mobile App: One-click trading, customizable interface, portfolio management, and more
- MetaTrader 5: Access to over 2,500 algorithmic applications, tools for analytics, copy trading service, etc.
In the table below, you can find the links to each platform for your mobile devices:
Operating System | Android | iOS |
Mobile App | ||
MetaTrader 5 |
Spreads And Commissions Review
First, we are going to review the broker's costs on trading based on account types. Look for this information in the table below:
Trading Account | SquaredPro | SquaredElite |
Average Spread for EUR/USD | From 1.2 Pips | From 0 |
Commission | None | $5 per Lot |
Note that the commission varies per product. Regarding fees in other parts and operations, there are no costs in deposits and withdrawals. Also, no inactivity fee is charged by the broker.
Payment Options for Deposits & Withdrawals
More deposit and withdrawal methods in a broker leads to more compatibility for traders from various regions. Squared Financial offers diverse payment options:
- Credit/Debit Cards: VISA, MasterCard, etc.
- E-Wallets: Skrill, Neteller, and other platforms
- Bank Wire Transfer: Via bank accounts
- Alternative Methods: Crypto, etc.
Copy Trading Service & Other Investment Solutions
Squared Financial provides two main options for earning passive income at the same time with trading and earning profits. Here are the available methods:
- MAM Accounts: Professional account management with risk-adjusted strategies
- Copy Trading: Trading signals from experienced traders with transparent performance metrics on MetaTrader 5
Copy trading is one of the most popular solutions for earning passive income on financial brokerages.
Bonuses and Promotions
Based on the investigations done on various sources, currently, Squared Financial maintains a no-bonus policy in compliance with strict regulatory requirements. This approach reflects their commitment to:
- Transparent trading conditions
- Regulatory compliance
- Focus on core trading services
- Long-term client relationships
Squared Financial Support Channels and Active Hours
Support department might seem unimportant to many traders, but it's one of the most critical parts of a broker's services. Squared Financial covers all of the common and popular channels for contacting customer support:
- Live Chat: On the website
- Email: support@squaredfinancial.eu
- Phone: +35722090227
- Tickets: Detailed query handling, available in the website
Based on the available information, this department offers services in 7 Languages, which is an advantage, but, on the other hand, it's only available Monday to Friday from 7:00 to 21:00 (GMT+3).
Trust Scores & Reviews
Some platforms such as Trustpilot and REVIEWS.io are purposed for submitting user scores of companies. Let's examine Squared Financial's reputation across major review platforms:
- Trustpilot: 3.9 out of 5, out of over 110 reviews
- io: 4.3/5 with more than 50 scores, 86% of reviewers recommend the broker
- ForexPeaceArmy: 1.4 out of 5, only 4 reviews
Except in the third mentioned website, which has too low ratings to be considered a reliable source for evaluation, Squared Financial has received decent trust scores on relevant websites.
Conclusion And Final Words
Squared Financial is considered a reliable broker, being regulated by a top-tier authority (CySEC) and FSA. Also, it has received generally positive trust scores from users on reputable platforms, such as 4.3/5 on REVIEWS.io.
However, there are some drawbacks. For example, you don't have access to a 24/7 support service. Moreover, you might find other brokerages with lower trading fees.
