SquaredFinancial Review 2023
Squared Financial is a CySEC-regulated forex & CFD broker with 10,000 tradeable assets for both MT4 and MT5.
and 3 more
Trade on dozens of FX pairs with zero spreads available
Trade on global indices, such as the Nasdaq
Trade CFDs on forex, global indices, energies, and precious metals
Trade popular cryptocurrency coins with leverage
Squared Financial Ltd is a forex and CFD broker offering trading services through online and mobile platforms. Licensed by reputable regulators, including the Cyprus Securities & Exchange Commission (CySEC), the group is trustworthy and safe to trade with. This review delves into the pros and cons of Squared Financial, including their automated trading solutions, no deposit welcome bonuses, and tradable assets.
Squared Financial Overview
Founded in Ireland in 2005, the broker is owned and operated by SquaredFinancial (CY) Limited. The group has offices in Cyprus and the Republic of Seychelles. It is licensed in both countries, with two separate regulators, safely providing clients with a range of tradeable markets, including energies and indices, that can be traded outside of traditional hours through a network of ECN brokers.
MetaTrader 4 (MT4) Platform
MT4 is the leading online trading platform for retail traders. Although best known for trading on the forex market, MT4 can be used on multiple instruments and comes with several dozen technical indicators, multiple chart types, plus an array of analysis tools.
Well-suited to newcomers and advanced traders alike, MT4 is an accessible web-based platform that provides a data-rich environment without overloading the computer or the screen. Its user-friendly design is compatible with Windows, Linux, and Mac computers.
MetaTrader 5 (MT5) Platform
For experienced traders, the MT5 solution offers a powerful suite of tools. Clients benefit from 80 technical indicators, 21 timeframes and a raft of automated trading tools, signals and scripts from the MetaTrader Market. The trading terminal also offers extensive customisation so users can find a layout that complements their trading style. For traders looking for a more powerful version of MT4, the MT5 platform is an excellent choice.
The MetaTrader 5 solution can be downloaded for free from the broker’s website.
A competitive, 10,000-strong selection of assets is offered to traders at Squared Financial. Alongside 50 forex pairs are CFD trading options in energies, precious metals and global indices, in addition to several thousand stocks, ETFs and futures.
Trading in energy CFDs allows speculators to trade in the asset without physical purchase and delivery. Precious metals are growing increasingly popular as they are unaffected by inflation, providing investors with the opportunity to hedge or diversify their portfolios. Indices are also a key tradeable instrument as investors bet on the performance of a market overall, such as the top 100 companies in the UK, spreading risk.
Traders in the US can also speculate on 10+ cryptocurrencies, including Bitcoin, Dogecoin and Ethereum. Leverage up to 1:2 is available and users can trade popular tokens against fiat currencies like the USD and EUR.
Spreads & Commissions
Squared Financial earns its money through a combination of commissions and spreads. There is no commission for Gold account holders, however, Platinum account holders are charged a $6 commission and Diamond accounts come with a $25 charge per million.
Spreads are not competitive for Gold account holders, with an 11 pip spread on the EUR/USD. However, you can benefit from zero-spreads when trading the same pair as a Platinum or Diamond account holder, and spreads remain decent on other major FX pairs, for example, 1 pip on the GBP/USD and EUR/GBP.
There are no fees for account inactivity or for holding positions open overnight.
Professional Gold and Platinum account holders at Squared Financial are provided with leverage rates of up to 1:100, whereas Diamond traders are offered leverage up to 1:500. However due to EU regulatory requirements, retail clients, regardless of account type, are offered standard leverage up to 1:30.
All Squared Financial clients have access to both web-based and downloadable mobile trading apps. The MetaTrader 4 mobile app can be downloaded to both iOS and Android-powered mobile phones and tablets.
Requiring a straightforward login, the mobile platform is great for traders who don’t want to miss a market opportunity when away from the computer. Not only allowing traders to open and close positions, track prices and analyse charts while on the move, the MT4 app can also supplement the desktop version as a notification centre, providing alerts for certain market and position situations.
Deposits and withdrawals must be made using the same method, with the following options available:
- Credit/Debit card (Visa & Mastercard)
- Bank transfer
Transactions are processed instantly from e-wallets while using cards can take up to an hour, and bank transfers up to three business days, depending on the provider. There are no fees implemented by Squared Financial for deposits and withdrawals, however, the bank used for wire transfers may have their own charges.
Squared Financial provides a demo account for prospective clients to explore the trading platform, strategies, and to get to grips with the broker. The demo account uses $50,000 of virtual money and a simulated market, so you can trial charts and indicators with no risk to your capital.
Deals & Promotions
There are no special promotions or welcome bonuses at Squared Financial at the time of writing, however, account holders have access to an educational centre with video tutorials, e-books, articles and training guides alongside expert market analysis and trading tools.
Regulation & Licensing
Licensed and regulated by the Cyprus Securities & Exchange Commission (CySEC) for investment and ancillary services throughout the European Union, Squared Financial Ltd is a trustworthy broker for traders from London to Krakow. There is also a branch of Squared Financial based in the Republic of Seychelles that is licensed and regulated by the Financial Services Authority (FSA). Squared Financial (Cyprus) is also a member of the Investor Compensation Fund, which compensates retail clients if the broker fails to pay legitimate winnings.
Regulation is a vital consideration when choosing a broker since your capital is at risk, so Squared Financial obtaining regulation from two different bodies is a strong indication of a safe broker.
Squared Financial has a large educational centre called SquaredAcademy which has something for traders of all experience levels. With a bespoke, easy-to-use interface, and a large library of training resources ranging from video tutorials to a forex glossary, SquaredAcademy is a huge asset. There are also tips from professional managers and traders, along with strategy analysis and FAQs.
Free market analysis is provided daily to Squared Financial traders, with commentaries, live news, signals, and an economic calendar to ensure key events and information are never missed. There are also a series of trading calculators and currency converters to simplify many aspects of trading, allowing more focus on the key decisions and strategies. Automated trading is another feature available with Squared Financial, allowing traders to set algorithms and pre-program trading instructions onto their account.
Squared Financial has also teamed up with Quant Insight to provide users with cutting-edge market insights. The analytics platform analyses millions of data points in real-time to assess trading opportunities and risks. iQbyQi essentially cuts through market noise to offer tailored insights. The solution uses artificial intelligence, machine learning and data science.
There are three different account types for traders looking to open real money accounts with Squared Financial. Each account has different fee structures, benefits and requirements, though all have the same leverage rates for retail clients and access to automated trading.
The accounts available are:
- Zero commission
- Spreads start at 1.2 pips
- $100 minimum deposit
- 1:100 professional leverage
- Negative balance protection
- $6 commission
- Spreads start at 0 pips
- $500 minimum deposit
- 1:100 professional leverage
- $25 commission per million (USD)
- Spreads start at 0 pips
- $20,000 minimum deposit
- 1:500 professional leverage
Squared Financial is a regulated broker with several attractive benefits:
- Education centre
- Scalping & hedging
- MT4 trading platform
- Low minimum deposit
- Multi-language accessibility
- Zero spreads on EUR/USD & USD/JPY
- High leverage rates for Diamond accounts
There are also certain downsides to trading with Squared Financial:
- No social trading
- No weekend trading
- Negative balance protection restricted to Gold accounts
Squared Financial Trading Hours
Trading is open 24 hours a day, 5 days a week. The platform can be used over the weekends for market analysis and account management, but no trading will occur at these times. It should also be noted that different markets and tradeable assets have different opening and closing times.
Customer service is given a lot of emphasis at Squared Financial; customer support teams are on hand every hour that trading is open. The customer service team can be contacted using a live chat window located at the bottom right corner of the website or via email, post, telephone, or Facebook:
- Phone: +357 25260333
- Email: email@example.com
- Post: Kedrou 9, Mesa Geitonia, 4004, Limassol, Cyprus
Safety & Security
Squared Financial takes security seriously, with encrypted, split storage of personal information. Each payment method also requires a new set of security checks. Furthermore, the broker is transparent – providing a range of legal documents in the ‘About’ section of their website.
Squared Financial Verdict
Squared Financial holds licenses with secure providers, making them a safe online broker to trade with. The MT4 trading platform is industry-renowned, and its education centre and language range make CFD trading accessible to traders worldwide. Unfortunately, it is held back by its lack of social trading; however, if your interests do not lie there, then Squared Financial has a strong rating and should be given consideration.
SquaredFinancial accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use SquaredFinancial from United States, Israel, Japan, Canada, Korea, Belgium.
|Minimum Trade||0.01 Lots|
|Regulated By||CySEC, FSA|
|AI / Machine Learning||No|
|Negative Balance Protection||Yes|
|Guaranteed Stop Loss||No|
CFD Trading Details
|FTSE Spread||0.01 pts|
|GBPUSD Spread||1 pip|
|Oil Spread||50 pips|
Forex Trading Details
|GBPUSD Spread||1 pip|
|EURUSD Spread||0 pips|
|EURGBP Spread||1 pip|
Cryptocurrency Trading Details
|Crypto Spread||From 0.006|
|Crypto Auto Market Maker||No|
Top 3 Alternatives to SquaredFinancial
Compare SquaredFinancial with the top 3 similar brokers that accept traders from your location.
Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
Go to Just2Trade
IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
Go to IG Group
Kwakol Markets – Kwakol Markets is a Nigerian headquartered broker with strong regulatory oversight in Australia and Canada. A great selection of day trading assets are available, including synthetic products that simulate realistic market activity. Clients can trade on the MT4, MT5 and cTrader platforms, as well as a copy trading solution whereby a fee is only paid on profitable trades.
Go to Kwakol Markets
SquaredFinancial Comparison Table
|SquaredFinancial||Just2Trade||IG Group||Kwakol Markets|
|Markets||Forex, CFDs, indices, commodities, cryptocurrencies||Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds||CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting||CFDs, Forex, Stocks, Indices, Commodities, Crypto|
|Minimum Trade||0.01 Lots||0.01 Lots||0.01 Lots||0.01 Lots|
|Regulators||CySEC, FSA||CySEC, NFA, FINRA, Bank of Russia||FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA||ASIC, FINTRAC|
|Bonus||–||Up to $2,000 for professional accounts||–||–|
|Platforms||MT4, MT5||MT4, MT5, TradingCentral||MT4, AutoChartist, TradingCentral||MT4, MT5, cTrader, AutoChartist|
|Leverage||1:500||1:20||1:30 (Retail), 1:250 (Pro)||1:1000 (Retail)|
Compare Trading Instruments
Compare the markets and instruments offered by SquaredFinancial and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
|SquaredFinancial||Just2Trade||IG Group||Kwakol Markets|
SquaredFinancial vs Other Brokers
Compare SquaredFinancial with any other broker by selecting the other broker below.
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|Squared Financial is a CySEC-regulated forex & CFD broker with 10,000 tradeable assets for both MT4 and MT5.|
Is Squared Financial regulated?
The Cyprus Securities and Exchange Commission (CySEC) regulates Squared Financial, along with the Republic of Seychelles Financial Services Authority (FSA), making it a licensed, trustworthy broker.
Does Squared Financial offer a demo account?
Yes, a demo account with up to $50,000 can be opened with Squared Financial for free. The demo account has no expiry.
What trading platform does Squared Financial provide?
The platform offered by Squared Financial is MetaTrader 4 (MT4), a highly regarded, effective and accessible platform.
What is the maximum leverage available at Squared Financial?
Diamond account holders have access to leverage of up to 1:500 while Gold and Platinum members are capped at 1:100. Also, due to ESMA regulations, retail clients from Europe are limited to leverage rates of 1:30.
What is the minimum deposit to open a Squared Financial account?
The minimum deposit for the Gold account is $100 while for Diamond account holders the minimum deposit is $20,000. The minimum position size is 0.01 lots.