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Trade Forex Review: Squared Financial – Your Guide to Trading Excellence
In this comprehensive review, we dive deep into Squared Financial, a Cyprus-based financial investment company that offers trading solutions, training, and support across various asset classes. Whether you’re a beginner or an experienced trader, read on to discover all you need to know about this broker.
1. Introduction to Squared Financial
About Squared Financial
- Squared Financial is a Cyprus-based financial investment company that provides trading solutions in various asset classes, including currencies, precious metals, energy CFDs, and indices.
Trading Model
- Squared Financial operates on the NDD (No Dealing Desk) model, offering institutional-level liquidity with narrow spreads and fast market execution.
2. Regulatory Status
CySEC Regulation
- Squared Financial’s trading brand is owned and operated by Squared Financial (CY) Limited, a Cyprus-registered company regulated by CySEC (Cyprus Securities and Exchange Commission). This regulation provides a high level of security for European traders.
International Traders
- International traders can register through an offshore company based in the Seychelles, though it’s important to note that regulatory protections may differ for these traders.
Customer Fund Protection
- Squared Financial adheres to European regulatory requirements, keeping customer funds in segregated accounts separate from the company’s capital. Additionally, they participate in compensation funds, ensuring traders can receive compensation in case of the company’s bankruptcy. Negative balance protection is also in place to prevent losses exceeding the initial balance.
3. Leverage
Leverage for European Traders
- As per ESMA regulatory restrictions, European traders can access a maximum leverage of 1:30 for major Forex currency pairs.
International Traders
- International traders registered through the Seychelles jurisdiction can still benefit from high leverage, with ratios of up to 1:500 available.
4. Account Types
Tailored Account Options
- Squared Financial offers various account types designed to cater to different trader needs:
- SquaredPro: Suitable for entry-level traders with no minimum deposit requirements, featuring an average EURUSD spread of 1.2 pips and no commissions.
- SquaredElite: An advanced account requiring an initial deposit of $5,000, offering a narrow spread of 0 pips and a $5 commission per lot.
- Islamic Accounts: Available for Muslim traders, allowing them to trade without swaps.
5. Commissions and Fees
Variable Costs
- Trading costs on Squared Financial depend on the selected account type and include narrow spreads (typically 1.2 pips for EURUSD) or lower spreads combined with a $5 commission per lot.
Comparison with eToro
- Traders can also compare Squared Financial’s fees with those of another popular broker, eToro.
6. Trading Platforms
MetaTrader 4 (MT4)
- Squared Financial utilizes the renowned MetaTrader 4 trading platform, trusted by millions of traders worldwide. MT4 offers an intuitive interface, powerful charting tools, and customizable strategy templates and indicators.
7. Tradable Instruments
Diverse Asset Portfolio
- Squared Financial provides a range of trading instruments, including:
- Forex currency pairs
- Cryptocurrencies (BTC, BCH, ETH, LTC, XRP)
- Futures
- Precious metals
- Energy CFDs
- Indices
8. Deposit and Withdrawal Methods
Convenient Funding Options
- Deposits can be made through credit cards, bank transfers, and electronic payment methods. Importantly, Squared Financial does not charge commissions for deposit or withdrawal transactions.
9. Minimum Deposit
Account Type Requirements
- There is no minimum deposit requirement for opening a SquaredPro account. However, for the SquaredElite account with narrow spreads starting from 0 pips, a minimum deposit of $5,000 or more is needed.
10. Conclusion
A Secure and Client-Focused Broker
- Squared Financial is a regulated Cyprus-based intermediary that connects traders with liquidity providers. Their offering includes direct access to global markets, comprehensive training, and reliable trading technologies.
We encourage you to share your thoughts and experiences with Squared Financial in the comments. Additionally, you can explore further reviews and ratings of Forex brokers to make informed decisions about your trading journey.
General Information: Squared Financial
- Broker Name: Squared Financial
- Year of Foundation: 2016
- Headquarters: Limassol, Cyprus
- Regulation: CySEC (for European traders), FSA (Seychelles for international traders)
- Trading Platforms: MetaTrader 4 (MT4)
- EURUSD Spread: 1.2 pips (average)
- Demo Account: Available
- Minimum Deposit: $0 for SquaredPro, $5,000 or more for SquaredElite
- Base Currencies: EUR, USD, GBP, CHF
- Maximum Leverage: 1:500 (international traders)
- Assets: Currency pairs, cryptocurrencies, indices, metals, energy CFDs
- Deposit Methods: Bank Transfer, Visa/MasterCard, Skrill, Neteller, UnionPay
- Withdrawal Fee: Not specified
- Inactivity Fee: Not specified
- Islamic Accounts: Available
- Segregated Accounts: Yes
- PAMM Accounts: Not mentioned
- Affiliate Account: Yes
- Scalping: Not specified
- Automatic Trading: Available
- Mobile Trading: Available
- Web Terminal: Not specified
- Social Trading: Available
- Signals: Available
- VPS: Not specified
- Deposit Bonuses: Not specified
- Contests: Not specified
- Support: 24/5
Please note that this review is intended to provide a comprehensive overview of Squared Financial. It’s essential to conduct your research and due diligence before choosing a broker, considering your trading objectives and preferences.
