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 |
Pros and Cons
- Extremely competitive spreads
- Comprehensive range of trading assets
- High leverage options
- Excellent customer support
- Variety of payment methods
- 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.
Create a Free AccountCompany 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
| Feature | Standard Account | Islamic Account | VIP Account |
|---|---|---|---|
| Minimum Deposit | $100 | $100 | Customizable |
| Leverage | Up to 1:500 | Up to 1:500 | Up to 1:500 |
| Spreads | From 0.3 pips | From 0.3 pips | From 0.1 pips |
| Swap-Free | ❌ | ✅ | ❌ |
| Personal Account Manager | ❌ | ❌ | ✅ |
| Negative Balance Protection | ✅ | ✅ | ✅ |
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
| Instrument | Examples | Features |
|---|---|---|
| Forex | EUR/USD, GBP/USD, USD/JPY | Tight spreads, high leverage |
| Indices | S&P 500, NASDAQ, FTSE 100 | Global exposure, diversification |
| Commodities | Gold, Silver, Oil, Natural Gas | Hedge against inflation, diversification benefits |
| Shares | Apple, Google, Amazon | Trade major global companies |
| Cryptocurrencies | Bitcoin, Ethereum, Litecoin | High 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
| Feature | Details |
|---|---|
| Spreads | From 0.3 pips |
| Leverage | Up to 1:500 |
| Execution Speed | Fast, with minimal slippage |
| Deposit Fees | None |
| Withdrawal Fees | None |
| Negative Balance Protection | Available |
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
| Resource | Availability |
|---|---|
| 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:
- Registration: Complete the online registration form on their website, providing personal details and contact information.
- Verification: Submit the required documents for identity verification, such as a government-issued ID and proof of address.
- Account Approval: Once the verification process is complete, the account will be approved, and login credentials will be provided.
- Deposit Funds: Deposit funds into the trading account using one of the available payment methods.
- 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
| Method | Deposit Fee | Withdrawal Fee | Processing Time |
|---|---|---|---|
| Bank Transfer | None | None | 1-3 business days |
| Credit/Debit Cards | None | None | Instant (deposits), 1-3 business days (withdrawals) |
| PayPal | None | None | Instant |
| Skrill | None | None | Instant |
| Neteller | None | None | Instant |
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
| Tool | Description |
|---|---|
| Charting Tools | Advanced chart types, timeframes, indicators |
| Economic Calendar | Highlights key economic events |
| Trading Signals | Provides trade recommendations |
| Stop Loss Orders | Limits potential losses |
| Take Profit Orders | Secures profits at predefined levels |
| Trailing Stops | Adjusts 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
| Feature | Description |
|---|---|
| Real-Time Quotes | Access to live market prices |
| Charting Tools | Advanced tools for technical analysis |
| Order Management | Place, modify, and close trades |
| Account Management | Monitor 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 Type | Details |
|---|---|
| Spread (EUR/USD) | From 0.3 pips |
| Deposit Fee | None |
| Withdrawal Fee | None |
| Inactivity Fee | None |
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.comFAQ
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
Article written, edited and reviewed by
Adam Rosen
Adam Rosen is a seasoned senior marketer whose expertise extends far beyond the norm. Drawing from decades of experience in the industry, Adam plays an integral role in our team, infusing his insights into every project we tackle. But that's not all – Adam has a unique knack for breaking down complex broker information and crafting insightful reviews for our website, Brokfolio. His dedication to providing readers with valuable insights and guidance makes him an invaluable asset to our team. Beyond his professional pursuits, Adam is fueled by an unwavering passion for technology and fintech. He thrives on pushing boundaries and exploring new horizons in these dynamic domains. Curious to learn more about the mind behind the words? Dive into Adam Rosen's profile to discover a wealth of expertise, innovation, and a relentless drive for excellence.
Andrew Blumer
Andrew Blumer is a finance pro who's got money matters down to a science.
Back in the day, he schooled at Belmont Hill School in Belmont, MA. Then, he took a swing at Harvard College, bagging a BA degree in economics. And that wasn't enough for him – he also nailed an MBA from Harvard Business School in '98.
But hold on, there's more to this financial nerd.
Andrew's been causing ripples in the fintech world for a while now. In fact, he's the mastermind behind Brokfolio, a platform that's all about making trading on financial markets crystal clear and super accessible.
Oh, and did we mention? He's the manager of Brokfolio's website and an expert in online brokers. So, if you're diving into the world of trading, Andrew's your go-to guy.
For more on his financial escapades, head over to his LinkedIn profile. Trust us, his journey is worth a read!
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Emily Clark is our superstar who kicked off her journey as a content whiz and proofreading ninja, focusing on all things finance and tech.
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Last updated: September 4, 2024
