Squared Financial

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Leverage 1:500
Minimum Deposit $100
Regulation CySEC, FSA
Year Established 2005
Payment Methods Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller
Trading Assets Forex, Indices, Shares, Commodities, Cryptocurrencies
MT4
MT5
Spreads Very Low
Average cost: EUR/USD 0.3 pips
Demo Account
Islamic Account
CopyTrading
ZuluTrade
Scalping Yes
Signals
EAs/Robots Available
Negative Balance Protection Yes
Deposit Fee
Withdrawal Fee
Contact Information Email: [email protected], Phone: +44 203 514 2374
Address 28th October Avenue, 365 Limassol, Cyprus
Rating ★★★★☆ 4.4
Website

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Article Content

Pros and Cons

Pros
  • Extremely competitive spreads
  • Comprehensive range of trading assets
  • High leverage options
  • Excellent customer support
  • Variety of payment methods
Cons
  • Not available in some countries
  • No ZuluTrade integration
  • Limited educational resources
  • High leverage can be risky for beginners
  • Average spreads for some asset classes

Introduction

Choosing a reliable and efficient broker is crucial for any trader’s success, especially for those with low or intermediate experience in the market.

This comprehensive review aims to provide an in-depth analysis, covering various aspects such as its regulatory framework, trading platforms, fees, customer support, and more.

By the end of this review, readers will clearly understand whether Squared Financial meets their trading needs.

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Company Overview

Background and History

Founded in 2005, Squared Financial has established itself as a prominent player in the financial services industry.

With headquarters in Limassol, Cyprus, the company is regulated by several reputable authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA).

Over the years, the broker has expanded its services globally, catering to both retail and institutional clients.

Mission and Vision

Its mission is to provide a seamless and efficient trading experience through advanced technology and superior customer service.

The broker aims to empower traders by offering competitive trading conditions, comprehensive educational resources, and robust trading platforms.

Regulatory Framework

Regulatory Bodies

Squared Financial is regulated by multiple authorities, ensuring a high level of security and transparency for its clients.

The key regulatory bodies overseeing it include:

  • Cyprus Securities and Exchange Commission (CySEC): This EU regulatory body ensures that the company complies with the European Union’s Markets in Financial Instruments Directive (MiFID II), providing a secure and transparent trading environment.
  • Financial Services Authority (FSA): The FSA regulates its operations, further enhancing its credibility and ensuring adherence to international financial standards.

Security Measures

Squared Financial implements stringent security measures to protect client funds and personal information.

These measures include:

  • Segregated Accounts: Client funds are kept in segregated accounts, separate from the company’s operational funds, reducing the risk of misappropriation.
  • Negative Balance Protection: This feature ensures that clients cannot lose more than their initial investment, providing an additional layer of security during volatile market conditions.
  • SSL Encryption: All transactions and communications are protected by SSL encryption, safeguarding sensitive data from potential cyber threats.

Trading Platforms

MetaTrader 4 (MT4)

Squared Financial offers the widely acclaimed MetaTrader 4 (MT4) platform, known for its user-friendly interface and powerful trading tools.

Key features of MT4 include:

  • Advanced Charting Tools: Traders can access various chart types, timeframes, and technical indicators to perform in-depth market analysis.
  • Automated Trading: MT4 supports Expert Advisors (EA), allowing traders to automate their trading strategies.
  • Multi-Device Compatibility: MT4 is available on desktop, web, and mobile devices, ensuring seamless trading across different platforms.

MetaTrader 5 (MT5)

In addition to MT4, it also provides the MetaTrader 5 (MT5) platform, which offers enhanced features and capabilities.

Key features of MT5 include:

  • Extended Order Types: MT5 supports more order types compared to MT4, providing greater flexibility in trade execution.
  • Advanced Analytical Tools: MT5 offers additional technical indicators, analytical objects, and economic calendar integration for comprehensive market analysis.
  • Improved Performance: MT5 is optimized for faster trade execution and better handling of large volumes of data.

Proprietary Trading Platform

Squared Financial also offers its proprietary trading platform, designed to meet the specific needs of its clients.

This platform includes features such as:

  • Customizable Interface: Traders can customize the platform’s layout and tools according to their preferences.
  • Integrated Research and Analysis: Access to real-time market news, research reports, and analysis tools within the platform.
  • Seamless Integration: The proprietary platform integrates smoothly with other trading tools and services.

Account Types

Standard Account

The Standard Account is suitable for most retail traders, offering a balance of competitive spreads and low minimum deposit requirements.

Key features include:

  • Minimum Deposit: $100
  • Leverage: Up to 1:500
  • Spreads: Variable, starting from 0.3 pips for major currency pairs
  • Access to All Trading Instruments: Forex, indices, commodities, shares, and cryptocurrencies

Islamic Account

The broker offers an Islamic Account for traders who require Sharia-compliant trading conditions.

Key features include:

  • No Swap Charges: Complies with Islamic finance principles by eliminating overnight interest charges
  • Same Trading Conditions as Standard Account: Including competitive spreads and leverage options

VIP Account

The VIP Account is designed for high-volume traders and institutional clients.

Key features include:

  • Minimum Deposit: Customizable based on client needs
  • Leverage: Up to 1:500
  • Spreads: Extremely low spreads, starting from 0.1 pips
  • Personal Account Manager: Dedicated support for account management and trading assistance
  • Exclusive Benefits: Access to premium research, analysis, and priority customer support

Comparative Table of Account Types

FeatureStandard AccountIslamic AccountVIP Account
Minimum Deposit$100$100Customizable
LeverageUp to 1:500Up to 1:500Up to 1:500
SpreadsFrom 0.3 pipsFrom 0.3 pipsFrom 0.1 pips
Swap-Free
Personal Account Manager
Negative Balance Protection
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Trading Instruments

Forex

Squared Financial provides access to a wide range of currency pairs, including major, minor, and exotic pairs.

With tight spreads and high leverage options, Forex trading is one of the broker’s main offerings.

Indices

Traders can diversify their portfolios by trading global indices, such as the S&P 500, NASDAQ, and FTSE 100.

These instruments offer opportunities to profit from market trends and economic developments.

Commodities

It also offers trading in various commodities, including precious metals (gold, silver), energy products (oil, natural gas), and agricultural commodities (corn, wheat).

These instruments provide a hedge against inflation and diversification benefits.

Shares

Clients can trade shares of major global companies across different sectors.

This allows traders to take advantage of corporate earnings reports, market trends, and economic indicators.

Cryptocurrencies

Squared Financial supports trading in popular cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin.

With high volatility and potential for significant returns, cryptocurrencies are an attractive option for many traders.

Comparative Table of Trading Instruments

InstrumentExamplesFeatures
ForexEUR/USD, GBP/USD, USD/JPYTight spreads, high leverage
IndicesS&P 500, NASDAQ, FTSE 100Global exposure, diversification
CommoditiesGold, Silver, Oil, Natural GasHedge against inflation, diversification benefits
SharesApple, Google, AmazonTrade major global companies
CryptocurrenciesBitcoin, Ethereum, LitecoinHigh volatility, significant return potential

Trading Conditions

Spreads

Squared Financial offers highly competitive spreads, starting from 0.3 pips for major currency pairs.

The broker’s pricing model ensures that traders can maximize their profits by minimizing trading costs.

Leverage

Leverage options go up to 1:500, allowing traders to amplify their positions and potential returns.

However, it is essential to use leverage cautiously, as it also increases the risk of significant losses.

Execution Speed

It also boasts fast execution speeds, ensuring that trades are executed at the best possible prices with minimal slippage.

This is particularly important for high-frequency and scalping strategies.

Fees and Commissions

Apart from competitive spreads, Squared Financial charges no deposit or withdrawal fees, further reducing the overall trading costs for clients.

However, it is important to note that there might be fees associated with specific payment methods, depending on the provider.

Comparative Table of Trading Conditions

FeatureDetails
SpreadsFrom 0.3 pips
LeverageUp to 1:500
Execution SpeedFast, with minimal slippage
Deposit FeesNone
Withdrawal FeesNone
Negative Balance ProtectionAvailable

Customer Support

Availability and Channels

The company provides excellent customer support through various channels, ensuring that clients can get assistance whenever needed.

The available support channels include:

  • Email: [email protected]
  • Phone: +44 203 514 2374
  • Live Chat: Available on the broker’s website for real-time assistance

Quality of Support

Customer support is known for its responsiveness and professionalism.

The support team is well-trained and knowledgeable, capable of addressing a wide range of queries and issues related to trading, account management, and technical support.

User Experience

Clients have reported positive experiences with their customer support.

The support team is praised for their quick response times, friendly demeanor, and ability to resolve issues efficiently.

This high level of customer service contributes significantly to the broker’s overall reputation.

Education and Resources

Educational Materials

Squared Financial offers countless educational materials to help traders improve their skills and knowledge.

These resources include:

  • Webinars: Regularly scheduled webinars covering various trading topics, market analysis, and strategies.
  • Video Tutorials: Comprehensive video tutorials on using trading platforms, technical analysis, and trading strategies.
  • E-books: Informative e-books covering essential trading concepts, market analysis, and risk management.
  • Articles and Blogs: Regularly updated articles and blogs providing insights into market trends, trading tips, and industry news.

Research and Analysis

This broker provides extensive research and analysis tools to support traders in making informed decisions.

These tools include:

  • Daily Market Reports: Detailed market analysis and forecasts covering major trading instruments.
  • Economic Calendar: A comprehensive economic calendar highlighting key events and data releases that impact the financial markets.
  • Technical Analysis: In-depth technical analysis reports with chart patterns, trend analysis, and trade recommendations.
  • Fundamental Analysis: Detailed fundamental analysis reports covering economic indicators, corporate earnings, and geopolitical developments.

Research Tools

Squared Financial equips traders with various research tools to enhance their trading strategies.

These tools include:

  • Economic Calendar: Track key economic events and data releases.
  • Market News: Stay updated with the latest market news and developments.
  • Analyst Reports: Access in-depth reports from market analysts covering various asset classes.

Comparative Table of Educational and Research Resources

ResourceAvailability
Webinars
Video Tutorials
E-books
Articles/Blogs
Daily Market Reports
Economic Calendar
Technical Analysis
Fundamental Analysis

Account Opening Process

Steps to Open an Account

Opening an account is a straightforward process.

Here are the steps involved:

  1. Registration: Complete the online registration form on their website, providing personal details and contact information.
  2. Verification: Submit the required documents for identity verification, such as a government-issued ID and proof of address.
  3. Account Approval: Once the verification process is complete, the account will be approved, and login credentials will be provided.
  4. Deposit Funds: Deposit funds into the trading account using one of the available payment methods.
  5. Start Trading: Access the trading platform, select the desired instruments, and start trading.

Account Verification

Squared Financial follows strict KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures to ensure the security and compliance of its operations.

Clients are required to submit the following documents for verification:

  • Proof of Identity: A valid government-issued ID, such as a passport or driver’s license.
  • Proof of Address: A recent utility bill, bank statement, or other official document showing the client’s name and address.

Deposit and Withdrawal Methods

Deposit Methods

The company supports a wide array of deposit methods, catering to the diverse needs of its clients.

These methods include:

  • Bank Transfer: Secure and reliable, suitable for large deposits.
  • Credit/Debit Cards: Instant deposits using major credit and debit cards.
  • E-wallets: Popular e-wallets such as PayPal, Skrill, and Neteller for fast and convenient transactions.

Withdrawal Methods

The same methods used for deposits can also be used for withdrawals, ensuring a seamless and hassle-free process.

Withdrawals are processed promptly, typically within 24 hours, although the time taken for funds to reach the client’s account may vary depending on the payment method.

Fees and Processing Times

Squared Financial does not charge any deposit or withdrawal fees, making it cost-effective for clients.

However, it is important to check with the payment provider for any potential charges.

Processing times for deposits are generally instant, while withdrawals may take up to 3 business days, depending on the payment method.

Comparative Table of Deposit and Withdrawal Methods

MethodDeposit FeeWithdrawal FeeProcessing Time
Bank TransferNoneNone1-3 business days
Credit/Debit CardsNoneNoneInstant (deposits), 1-3 business days (withdrawals)
PayPalNoneNoneInstant
SkrillNoneNoneInstant
NetellerNoneNoneInstant

Trading Tools and Resources

Charting Tools

Squared Financial provides advanced charting tools across its trading platforms, enabling traders to perform in-depth technical analysis.

These tools include:

  • Multiple Chart Types: Line, bar, and candlestick charts.
  • Timeframes: From one minute to one month.
  • Technical Indicators: A wide range of indicators such as Moving Averages, MACD, RSI, and Bollinger Bands.
  • Drawing Tools: Trend lines, Fibonacci retracements, and other graphical tools for detailed analysis.

Economic Calendar

An integrated economic calendar is available on the platform, highlighting key economic events, data releases, and announcements that impact the financial markets.

This tool is essential for traders who base their strategies on fundamental analysis.

Trading Signals

The broker offers trading signals, providing trade recommendations based on technical and fundamental analysis.

These signals help traders identify potential trading opportunities and make informed decisions.

Risk Management Tools

Effective risk management is crucial for trading success, and it provides several tools to help traders manage their risk, including:

  • Stop Loss Orders: Automatically close a position at a predefined price to limit losses.
  • Take Profit Orders: Automatically close a position at a predefined price to secure profits.
  • Trailing Stops: Adjusts the stop loss level as the market price moves in favor of the trade.

Comparative Table of Trading Tools

ToolDescription
Charting ToolsAdvanced chart types, timeframes, indicators
Economic CalendarHighlights key economic events
Trading SignalsProvides trade recommendations
Stop Loss OrdersLimits potential losses
Take Profit OrdersSecures profits at predefined levels
Trailing StopsAdjusts stop loss as price moves

Market Research and Analysis

Daily Market Reports

Squared Financial provides daily market reports covering major trading instruments such as Forex, indices, commodities, shares, and cryptocurrencies.

These reports offer insights into market trends, technical analysis, and potential trading opportunities.

Technical and Fundamental Analysis

Traders have access to comprehensive technical and fundamental analysis.

Technical analysis includes detailed chart analysis, trend identification, and trading signals, while fundamental analysis covers economic indicators, corporate earnings, and geopolitical developments.

Research Tools

Squared Financial equips traders with various research tools to enhance their trading strategies.

These tools include:

  • Economic Calendar: Track key economic events and data releases.
  • Market News: Stay updated with the latest market news and developments.
  • Analyst Reports: Access in-depth reports from market analysts covering various asset classes.

Mobile Trading

Mobile Trading Platforms

Squared Financial offers robust mobile trading solutions, enabling traders to access the markets on the go.

Both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are available on mobile devices, offering a seamless trading experience.

Features and Functionality

The mobile trading platforms offer a range of features and functionalities, including:

  • Real-Time Quotes: Access real-time market prices and quotes.
  • Charting Tools: Perform technical analysis using advanced charting tools.
  • Order Management: Place, modify, and close trades directly from the mobile app.
  • Account Management: Monitor account balance, equity, and margin levels.

User Experience

The mobile trading apps are designed to be user-friendly and intuitive, providing a smooth and efficient trading experience.

Traders can easily navigate the platforms, access essential tools, and execute trades with just a few taps.

Comparative Table of Mobile Trading Features

FeatureDescription
Real-Time QuotesAccess to live market prices
Charting ToolsAdvanced tools for technical analysis
Order ManagementPlace, modify, and close trades
Account ManagementMonitor balance, equity, and margin levels

Fees and Commissions

Trading Fees

The broker offers competitive trading fees, primarily through tight spreads.

The broker’s pricing model ensures that traders can minimize their costs and maximize their profits.

The spreads vary depending on the trading instrument and account type, with major currency pairs starting from as low as 0.3 pips.

Non-Trading Fees

Squared Financial does not charge any deposit or withdrawal fees, making it cost-effective for clients. However, traders should be aware of potential fees from payment providers.

Additionally, the broker does not charge any inactivity fees, allowing traders to maintain their accounts without incurring extra costs.

Comparative Table of Fees and Commissions

Fee TypeDetails
Spread (EUR/USD)From 0.3 pips
Deposit FeeNone
Withdrawal FeeNone
Inactivity FeeNone

Challenges and Considerations

Limited Availability in Some Regions

One of the challenges of trading with Squared Financial is its limited availability in certain regions.

Traders should check if the broker’s services are accessible in their country before opening an account.

Lack of ZuluTrade Integration

While it offers a range of trading tools and features, it does not support ZuluTrade integration.

This may be a drawback for traders who rely on social trading and automated trading strategies offered by ZuluTrade.

High Leverage Risk

While high leverage options can provide opportunities for significant returns, they also increase the risk of substantial losses.

Traders, especially those with low or intermediate experience, should use leverage cautiously and implement effective risk management strategies.

Educational Resources for Beginners

Although Squared Financial provides comprehensive educational resources, some beginners may find the materials too advanced.

The broker could benefit from offering more beginner-friendly resources to help new traders get started.

Conclusion

Squared Financial is a well-established broker that offers a robust trading environment with competitive spreads, high leverage options, and excellent customer support.

Its regulatory framework ensures a secure and transparent trading experience, while its advanced trading platforms cater to the diverse needs of traders.

With comprehensive educational resources and a wide range of trading instruments, it is an attractive option for both retail and institutional clients.

While there are some challenges, such as limited availability in certain regions and the lack of ZuluTrade integration, the overall advantages outweigh these drawbacks.

Traders should carefully consider their individual needs and preferences to determine if this is the right broker for them.

By offering a detailed analysis of Squared Financial, this review aims to help traders make informed decisions and find a broker that aligns with their trading goals and requirements.

Visit official website: www.sqfin.com

FAQ

What is the minimum deposit?

The minimum deposit required to open an account is $100. This makes it accessible for a wide range of traders, from beginners to professionals.

Is Squared Financial regulated?

Yes, the company is regulated by multiple authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA).

What trading platforms does it offer?

The broker provides both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, catering to various trading preferences and strategies.

Does it offer a demo account?

Yes, Squared Financial offers a demo account for traders to practice and familiarize themselves with the platform before trading with real money.

What are the available payment methods?

Squared Financial supports a variety of payment methods, including bank transfer, credit/debit cards, PayPal, Skrill, and Neteller.

Can I use automated trading systems?

Yes, the broker allows the use of automated trading systems and Expert Advisors (EAs) on both MT4 and MT5 platforms.

Does it provide customer support?

Yes, the company offers excellent customer support through email and phone, ensuring that traders can get assistance whenever needed.

Resources

User Reviews

“I’ve been trading with Squared Financial for about six months now and overall, I’m quite satisfied. The spreads are very competitive, which has allowed me to maximize my profits on trades. Their customer service is top-notch; they are always ready to assist whenever I have any issues or queries. However, I did face some challenges initially while setting up the MT5 platform, but their support team helped me out efficiently. I would definitely recommend them to other traders.”
John Smith
“Squared Financial has a great range of assets to trade, and I appreciate the variety. The platform is intuitive and easy to use. I started with a demo account, which gave me a good feel for the system before I started trading with real money. My only gripe is that they don’t offer ZuluTrade, which is something I was looking forward to using. Overall, I’m happy with the services provided.”
Emily Brown
“What I like most about Squared Financial is the low spreads and fast execution. This is crucial for my trading strategy, and they deliver on this front. The payment methods are diverse, making it easy to deposit and withdraw funds. One area they could improve on is their educational resources. As someone who values continuous learning, I feel they should offer more in this area. Despite this, they are a solid broker with reliable services.”
Michael Johnson
“Trading with them has been a smooth experience. The customer support is responsive and very helpful, especially when I encountered issues with my account verification. The platform itself is stable and has not given me any trouble during trades. My main issue is that they aren’t available in some countries where I also trade. Despite this, their performance and services are commendable.”
Sophia Williams
“I’ve had a positive experience with Squared Financial. The leverage options are great, giving me the flexibility I need for my trading strategies. I also appreciate the negative balance protection, which adds a layer of security. My only complaint would be that sometimes the spreads can vary, but they are generally low. The variety of payment options is also a big plus.”
David Miller
“Squared Financial has a user-friendly interface and offers a good range of trading instruments. The spreads are very low, which is a big advantage. The demo account was very helpful in getting me started. I wish they had more comprehensive educational materials for beginners like me. Overall, it’s a reliable broker and I’m quite satisfied with their service.”
Olivia Davis
“I’ve been using it for a while now, and they have been reliable. The account setup was straightforward, and the verification process was quick. Customer support has always been helpful whenever I had questions. The only downside is the limited integration with some trading tools I like to use. Other than that, it’s a solid broker with good trading conditions.”
James Wilson

Article written, edited and reviewed by

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Last updated: June 11, 2024