Squared Financial is a Cyprus-based online broker offering CFD trading on various instruments, including forex, stocks, indices, commodities, and cryptocurrencies. This Squared Financial broker review delves into the intricacies of their services, analyzing their strengths and weaknesses to help you decide if they’re the right fit for your trading needs.
Summary Table
| Feature | Key Points |
| Regulation | CySEC (Cyprus Securities and Exchange Commission) |
| Account Types | Standard, Premium, VIP |
| Minimum Deposit | €250 |
| Leverage | Up to 1:400 |
| Spreads | Variable, starting from 0.6 pips |
| Trading Platforms | MetaTrader 4, MetaTrader 5 |
| Asset Coverage | Over 8,800 instruments |
| Fees & Commissions | Low, competitive |
| Customer Support | 24/5 multilingual live chat, email, phone |
| Education | Webinars, articles, video tutorials |
Squared Financial Company Overview
Squared Financial was founded in 2017 and is licensed and regulated by the CySEC, offering a secure and transparent trading environment. They boast several industry awards, including “Best Broker in Europe” and “Best Client Funds Security Cyprus,” highlighting their commitment to client trust and protection.
Squared Financial Account Types and Features
They have two account types: SquaredPro and SquaredElite. Each provides access to various features and benefits, with higher tiers unlocking tighter spreads, lower commissions, and dedicated account managers.
SquaredPro | SquaredElite |
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Squared Financial Minimum Deposit Requirements
The minimum deposit requirement for all account types is $250, which is relatively low compared to other brokers. This makes it a good option for those starting with a smaller budget.
Leverage and Spreads
It offers leverage up to 1:500, which can amplify your profits but also increase your risk. Spreads are variable, starting from 0.6 pips for major forex pairs. While not the tightest in the market, they are generally competitive.
How To Open An Account With Squared Financial?
Opening an account with this broker is straightforward. You can complete the online application form, providing basic personal and financial information. The process is quick and efficient, and you can start trading within minutes after verification.
How To Deposit Money In Squared Financial?
There are various deposit methods, including bank transfers, credit/debit cards, and e-wallets like Skrill and Neteller. Deposits are generally processed instantly, allowing you to start trading without delay.
How To Withdraw From Squared Financial?
Withdrawals are also processed quickly and efficiently, typically within 24 hours. You can withdraw funds back to the same method used for deposit or choose an alternative method.
Squared Financial Trading Platforms
It provides access to the industry-standard MetaTrader 4 and MetaTrader 5 platforms. These platforms offer a user-friendly interface, advanced charting tools, and a wide range of technical indicators.
Also, they have their mobile app trading platform, which is also very user-friendly and easy to navigate.
Asset Coverage
Squared Financial boasts an impressive asset coverage of over 8,800 instruments, including forex pairs, stocks, indices, commodities, and cryptocurrencies. This diversity allows you to diversify your portfolio and trade various markets.
Squared Financial Regulation
As mentioned earlier, this broker is regulated by the CySEC and FSA, ensuring compliance with strict financial regulations and client protection measures. This provides peace of mind knowing your funds are safe and secure.
Fees and Commissions
Squared Financial charges low and competitive fees and commissions. Spreads are variable but generally tight, and there are no hidden fees. Additionally, they offer commission-free trading on certain stocks and ETFs.
Customer Support
They have 24/5 multilingual customer support via live chat, email, and phone. Their support team is knowledgeable and helpful, ensuring you receive timely assistance whenever needed.
Educational Resources
Squared Financial provides a comprehensive range of educational resources for both beginner and experienced traders. This includes webinars, articles, video tutorials, and a glossary of terms. These resources can help you improve your trading skills and knowledge.
Squared Financial Pros and Cons
Pros | Cons |
| Low minimum deposit | Limited regulatory oversight compared to some brokers |
| Competitive spreads and fees | Variable spreads can be unpredictable |
| Wide range of assets | Leverage might be too high for beginners |
| User-friendly platforms | |
| Strong customer support |
Squared Financial Client Feedback and Reviews
Fortunately, this broker generally receives positive feedback from clients, with an average rating of 4.0 stars on Trustpilot.
Most of the users appreciate their transparency, way of trading, easy navigational website, and their awesome customer service department.
Comparison Between Square Financial and Other Brokers
Despite this broker being good and secure, you may need to compare this broker with some other brokers in the market to find some good alternatives. For your benefit, we are presenting this small comparison between Squared Financial, IG, and eToro. You can also the individual IG broker review and eToro broker review for a detailed overview.
| Squared Financial | IG | eToro | |
| Year Founded | 2005 | 1974 | 2007 |
| Forex Pair | 40 | 97 | 52 |
| Regulated | Yes | Yes | Yes |
| Minimum Deposit | $250 | $250 | $10-$10,000 |
| Mobile App | Yes | Yes | Yes |
| Inactivity Fee | Yes | Yes | Yes |
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Final Thought
Squared Financial is a relatively new broker with a growing reputation in the CFD trading industry. They offer a combination of competitive fees, a wide range of assets, user-friendly platforms, and strong customer support. While they could improve their educational resources and consider expanding their payment methods, this broker presents a solid choice for traders seeking a reliable and accessible trading platform.
