International forex and CFD brokerage, SquaredFinancial, has announced its support for retail investors by offering unrestricted access to GameStop and other stocks on its platform.
Traders can now trade GameStop (GME: NYSE) on the SquaredFinancial MetaTrader 5 (MT5) platform as a single stock CFD. The broker has also added six other short squeezed company stocks, including AMC Entertainment, Blackberry, American Airlines, Bed Bath & Beyond, Irobot Corp and Clovis Oncology.
The unusual short squeeze came after amateur Reddit traders took on Wall Street by pumping the share price of GameStop and other shorted stocks. After several days of excitement in the market, tensions mounted when some brokers like Robinhood decided to restrict the trading of GameStop, in what was only described by traders as market manipulation.
Nonetheless, whilst certain brokerages have sided with Wall Street, SquaredFinancial is one player who remains on the side of traders. For many years, the broker has aimed to democratise trading by giving increased access to market products and by consistently backing innovation and change. As a result, SquaredFinancial is increasingly being seen as an alternative to Robinhood.
Husam Al Kurdi, CEO of SquaredFinancial, commented, “following the high-profile activities of ‘Reddit’ traders, we don’t want to be in a position where we restrict access for anyone – this would go against everything we have been trying to achieve.”
To access any of the new stocks at SquaredFinancial, existing account holders can sign in to their MT5 platform and start trading today, or new traders can head to the website to register.
Founded in 2005, SquaredFinancial is an international online investment firm headquartered in Cyprus. The broker offers an extensive range of products across forex, precious metals, energies, shares and international indices on the MT4 and MT5 platforms. Traders also enjoy 24/5 customer service, competitive spreads from zero pips and world-class education tools.
SquaredFinancial is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) in Seychelles.
The firm’s latest move in favour of its traders makes it one of the top alternatives to brokers like Robinhood that recently restricted access to GameStop and other volatile assets.