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Squared Financial Broker Review 2024

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Squared Financial Broker Review 2024
Economic Calendar Trading Calculators
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Investing and trading in financial markets such as the stock exchange, forex, digital currencies in the form of spot or with leverage face a high inherent risk. According to the statistics of all exchanges and brokers, more than 75% of people lose!

Overview
Company:Squared Financial
Founded:Limassol, Cyprus
Min Deposit:1
Max Leverage:30
Headquarter:Limassol, Cyprus
US Accepted:
About
Squared Financial, a Cyprus-based broker, offers regulated Forex and multi-asset trading under CySEC and FSA. With features like a zero-spread account and economic calendar, it provides two account types and diverse payment options. However, lack of weekend support and above-average trading fees are its cons.
Contact
205, Arch. Makarios Avenue, Victory House, Block A, 5th Floor, 3030, Limassol, Cyprus
Rank and Score
Pros and Cons
Account Types
Platforms
Pros
High-Reputation Regulating Authority
Diverse Trading Symbols in Various Markets
No Minimum Deposit on SquaredPro Account
Cons
Relatively High Costs in Trading
No Support Services on Weekends

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.

Squared Financial broker
A comprehensive and in-depth review of Squared Financial broker

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:

Squared Financial
Click the button as shown in the screenshot to start registration with Squared Financial
  • 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

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.
Squared Financial platforms
Trading platforms and applications available for working with Squared Financial

In the table below, you can find the links to each platform for your mobile devices:

Operating System

Android

iOS

Mobile App

Squared Financial Android

Squared Financial iOS

MetaTrader 5

MT5 Android

MT5 iOS

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
Squared Financial reviews.io
Trust scores and reviews of Squared Financial broker on REVIEWS.io website
  • 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.

FAQs

Is Squared Financial regulated?

Yes, by CySEC (Cyprus) and FSA (Seychelles).

What's the minimum deposit in Squared Financial?

$0 for SquaredPro account, and $500 for SquaredElite.

Can US traders use Squared Financial?

No, US traders are not accepted by the broker.

What trading platforms are available?

MetaTrader 5 and a proprietary mobile app.

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