SquaredFinancial Broker Review 2024

SquaredFinancial is a trusted brokerage regulated by CySEC and ESMA, offering two account types, SquaredPro and SquaredElite. With no minimum deposit, traders can access diverse markets like Forex and cryptocurrencies using popular platforms like MT4 and MT5.

The Company Information & Regulation Status

Squared Financial is a well-established forex and CFD broker serving traders since 2005. The company operates under some entities:

• Cyprus Securities and Exchange Commission (CySEC) (License Number: 329/17);
• European Securities and Markets Authority (ESMA);
• Complies with Markets in Financial Instruments Directive II (MiFID II);
• Member of the Investor Compensation Fund (ICF).

This regulation structure allows traders to choose between different levels of regulatory protection and trading conditions. The CySEC-regulated entity offers stronger investor protections but with some restrictions on leverage. Key points about SquaredFinancial:

• Offers a wide range of trading instruments;
• Provides popular trading platforms (MetaTrader 4 and MetaTrader 5).

SquaredFinancial's commitment to regulatory compliance and transparency makes it a trustworthy option for traders seeking a reliable broker in the competitive forex and CFD market.

Squared Financial Broker Summary of Specifics

To give you a quick overview of what SquaredFinancial offers, here's a summary table of the broker's key features:

Squared Financial caters to both beginner and experienced traders with its range of account types, diverse asset offerings, and educational resources. The broker's competitive pricing structure, especially on the SquaredElite account, makes it an attractive option for active traders looking for tight spreads and low commissions.

Squared Financial Account Types Comparison

SquaredFinancial offers two main types of accounts to cater to different trading styles and experience levels.

the SquaredPro Account, ideal for day and intraday traders, and the SquaredElite Account, designed for high-volume traders and scalpers.

Both account types offer:

• Negative balance protection;
• Islamic/swap-free account options;
• Demo accounts for practice trading;
• Access to MT4 and MT5;
• Mobile trading app support.

Despite these drawbacks, Squared Financial remains a solid choice for many traders, especially those looking for a regulated broker with competitive pricing and diverse trading instruments.

SquaredFinancial Broker Signing Up & Verification Process

Opening an account with Squared Financial is a straightforward path. Here's a step-by-step guide to get you started:

• Visit the SquaredFinancial website;
• Click on the "Open Account" button;
• Choose the individual option;
• Fill in the details (name, email, phone number, etc.);
• Create a password for your account;
• Fill in the personal information (address, postal code, etc.);
• Complete your financial info (employment status, source of funds, tax etc.);
• Confirm your email and phone number;
• Upload the required documents (profile>Upload Documents).

Remember, the verification process is a regulatory requirement and helps ensure the security of your account. SquaredFinancial typically processes verification documents within 1-2 business days.

SquaredFinancial Forex Broker Trading Platforms

Squared Financial provides its clients with industry-standard trading platforms, ensuring a smooth and feature-rich trading experience:

1. MetaTrader 4 (MT4);
2. MetaTrader 5 (MT5);
3. Squared Financial Mobile App.

All platforms offer:

• Real-time market data;
• Multiple order types (market, limit, stop);
• Risk management tools (stop-loss, take-profit);
• Customizable interface and layouts.

Squared Financial broker also provides a Virtual Private Server (VPS) service for traders using automated strategies, ensuring 24/7 execution even when your computer is off.

SquaredFinancial Forex Broker Spreads and Commissions

SquaredFinancial's pricing structure varies depending on the account type:

It's important to note that spreads are variable and can widen during low liquidity or high market volatility. Squared Financial also charges overnight swap rates for positions held open beyond the trading day, which vary depending on the instrument and direction of the trade.

Squared Financial Broker Deposit & Withdrawal

SquaredFinancial offers a variety of payment methods for deposits and withdrawals:

• Bank Transfer;
• Credit Cards;
• E-Wallets;
• Alternative Payment Methods.

Here are the payment service providers:

• PayMaxis;
• PowerCash;
• SafeCharge.

It's worth noting that while Squared Financial doesn't charge fees for deposits or withdrawals, third-party payment providers may apply their fees. Always check with your bank or payment provider for any potential charges.

Copy Trading & Investment Options Offered on Squared Financial Broker

SquaredFinancial broker offers a robust copy trading feature, allowing investors to automatically replicate the trades of successful traders. This service is particularly beneficial for those who lack the time or expertise to conduct their market analysis. Key features of SquaredFinancial's Copy Trading:

1. Easy to Use: Start or stop copying trades with just a few clicks;
2. Real-time Replication: Copied trades are executed in your account instantly;
3. Diverse Strategies: Choose from thousands of traders with different strategies.

Note that Squared Financial does not offer investment options like PAMM or Managed Accounts.

Squared Financial Forex Broker Bonuses and Promotions

Currently, Squared Financial does not appear to offer any bonuses, promotions, or cashback rewards. While they have had offers like welcome bonuses or no-deposit bonuses in the past, these promotions are no longer available.

It’s important for users to check the broker’s official website for any future updates on potential bonuses or promotions, as terms and offerings can change over time.

Squared Financial Broker Support Team

Squared Financial provides customer support through various channels:

1. Live Chat: Available on the website for quick queries;
2. Email: support@squaredfinancial.eu for detailed inquiries;
3. Phone: +357 22 090 227 for direct communication.

While SquaredFinancial's support is generally responsive (Monday to Friday from 7 am until 9 pm GMT+3), some users have reported longer wait times during peak hours. The broker continually improves its support services to enhance the client experience.

Squared Financial Broker Trust Scores & Reviews

Squared Financial has generally medium reviews and trust scores across various platforms:

1. TrustPilot: 3.6/5 stars (based on over 90 reviews);
2. ForexPeaceArmy: 3.6/5 stars (based on only 4 reviews).

Overall, SquaredFinancial maintains a good reputation in the industry, with its regulatory compliance and transparent operations contributing to its trustworthiness.

Expert’s opinion and conclusion

SquaredFinancial does not require a minimum deposit and supports base currencies like EUR, USD, GBP, CHF, and ZAR.

Deposits and withdrawals are facilitated through Visa, MasterCard, and cryptocurrencies. On SquaredElite accounts, traders are charged a $5 commission.