Squared Financial Review
SquaredFinancial is a multi-asset online CFD broker, licensed since 2017 by the Cyprus Securities and Exchange Commission (CySEC). The corporate owner, SquaredFinancial Group, has existed since 2005 and is led by a seasoned management team. It offers traders the out-of-the-box MT4 and MT5 trading platforms, dynamic leverage and, in its commission-based account, one of the best cost structures available from all brokers. The volume-based cashback program lowers final trading costs further, making SquaredFinancial a competitive choice for automated trading solutions, scalpers, and high-frequency traders. The overall asset selection, however, is a drawback that traders will need to consider, as it remains comparatively below-average. New traders will benefit from the SquaredFinancial Academy, and daily markets research is equally available.
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Regulation and Security
Clients from the European Union (EU) must trade with the Cyprus Securities and Exchange Commission (CySEC) regulated subsidiary. It operates under the European Securities and Markets Authority (ESMA) regulator and the MiFID II legislative framework, making it one of the least competitive trading environments globally. SquaredFinancial provides international traders with a highly competitive subsidiary, regulated by the Seychelles Financial Services Authority (FSA).
EU-based traders have access to the Cyprus Investor Compensation Fund (ICF), covering deposits up to a maximum of €20,000 in the unlikely event of default. All SquaredFinancial clients of the Seychelles subsidiary remain protected by Excess of Loss Policy via the SquaredFinancial Lloyd’s of London insurance policy, with a maximum pay-out of US$1,000,000 per client. All deposits at both units remain segregated from corporate funds, and negative balance protection is also available. SquaredFinancial maintains a copy of all legal documents on its website and displays overall transparency. The clean regulatory track record confirms a secure and trustworthy trading environment. The FSA subsidiary of SquaredFinancial remains one of the best-protected globally when it comes to client capital. Not many brokers provide a US$1,000,000 insurance policy.
SquaredFinancial maintains regulatory oversight in the uncompetitive EU trading environment, as provided by CySEC. It also grants international traders the competitive global framework offered by the FSA.
The client protection under the FSA unit remains significantly superior to that of the CySEC unit.
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SquaredFinancial offers an uncompetitive commission-free trading account where the minimum mark-up is 1.2 pips. It also maintains one of the best-priced commission-based alternatives, where traders get access to raw spreads of 0.0 pips for a cost of just $5.00 per round lot or $2.50 per side. Most mark-ups are above 0.0 pips, and are entirely dependent on market conditions. Traders have to pay swap rates on leveraged overnight positions, which SquaredFinancial transparently lists on their website. They are also accessible from inside the MT4/MT5 trading platforms. SquaredFinancial passes on all corporate actions to clients; these primarily consist of dividend adjustments but can also include impacts of splits and mergers. Deposits and withdrawals remain free of charge at SquaredFinancial, but third-party costs may apply. SquaredFinancial does not list an inactivity fee, while currency conversions face a mark-up between 15 and 30 basis points.
MT4/MT5 traders can easily access swap rates from their platform by following these steps:
1. Right-click on the desired symbol in the Market Watch window and select Symbols.
2. Select the desired currency and then click on Properties located on the right side.
3. Scroll down until you see Swap Long and Swap Short.
SquaredFinancial maintains one of the best commission-based trading environments, while the commission-free alternative remains comparatively expensive.
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What Can I Trade
Traders have access to 50 currency pairs, five cryptocurrency pairs, and five commodities. Completing the selection are 54 equity CFDs, 13 index CFDs, and ten futures contracts. The overall asset choice of 137 assets is considered below average but sufficient for new retail traders to get cross-asset exposure. Advanced traders do not have enough assets in each category to identify sufficient trading opportunities or to manage a more substantial portfolio. It remains one visible weakness at SquaredFinancial.
SquaredFinancial notes over 150 assets, but our review identified only 137 listed under contract specifications. Either case represents a below-average selection for most active traders.
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SquaredFinancial presents clients with a commission-free and a commission-based trading account. The former features no minimum deposit but an expensive minimum spread of 1.2 pips or $12 per 1.0 standard lots in the EUR/USD, the most liquid currency pair. The commission-based trading account requires a minimum deposit of $5,000. The minimum mark-up is 0.0 pips, and a commission of $5.00 per round lot applies. A swap-free Islamic account is also available.
While the cost structure remains among the most competitive ones, the 0.0 spread only applies to a few currency pairs. The others display a mark-up well below those visible in the commission-free alternative. The maximum leverage in both account options is 1:500. Since SquaredFinancial deploys dynamic leverage, it decreases alongside, with an increase in total volume. It creates a safe trading environment while supporting leveraged trading.
Retail traders with less than $5,000 must trade in the overpriced commission-free trading account.
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Regrettably, only the core MT4 and MT5 trading platforms are available at SquaredFinancial, without any of the required third-party upgrades which would transform the sub-standard versions into cutting-edge solutions. Both support automated trading, but SquaredFinancial does not list an API that allows advanced solutions to connect. Most retail traders will find required add-ons in the integrated MT4/MT5 Market, but the necessary ones come at a cost. The current choices are acceptable, as traders can upgrade them, but SquaredFinancial must deliver more to ensure its competitiveness.
The MT4 trading platform presents the best choice at SquaredFinancial.
The MT5 is also available.
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Aside from the US$1,000,000 insurance policy for clients of the FSA subsidiary, SquaredFinancial does not offer any other unique features.Back to Top
Research and Education
SquaredFinancial provides clients with its Daily Live Markets News category. Traders can filter them conveniently by country, and each post includes a trade button. The Daily Market Outlook is where traders will find brief trading signals, described in a single paragraph with an accompanying chart. A more in-depth market commentary is available each trading day, generated by the Chief Market Analyst at SquaredFinancial. A section covering financial events provides additional information. The overall quality of the research is acceptable. It offers new traders relevant content to navigate through financial markets and explains past price action of various assets.
Traders can read up on fundamental news in the Daily Live Markets News category.
Technical-based trading recommendations are available in the Daily Market Outlook.
SquaredFinancial also publishes market commentary.
New traders have access to a wealth of quality educational content inside the SquaredAcademy. The video tutorials consist of seven courses, or 71 lessons, covered over almost 72 minutes. New traders should make this their first stop. One eBook is available though from the page summary, it appears more eBooks are likely to follow. SquaredFinancial maintains a section for live webinars; at the time of this review, the schedule was empty, however. The collection of educational articles provides additional value. They represent the latest addition to the SquaredAcademy, and consist of quality written content and explanatory charts. Completing the offering at the SquaredAcademy are trading guides, which follow the quality presentation of the other components. When it comes to education, SquaredFinancial delivers an excellent service. All content is free of charge, even to non-clients, and SquaredFinancial deserves credit for making it available thus. It shows their desire to offer new traders genuine education, free of marketing-inspired tactics, and the result is one of the best overall trading courses among all online brokers.
The SquaredAcademy is one of the best educational tools available to all traders.
Almost 72 minutes of video lessons are available.
Currently, SquaredFinancial only presents one eBook.
While a live webinars section exists, the schedule was empty at the time of this review.
New traders will discover valuable information inside the educational articles.
The trading guides complete the quality content inside the SquaredAcademy.
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SquaredFinancial maintains 24/5 customer support. Clients may connect via e-mail, phone, webform, or live chat. The FAQ section answers many of the most common questions, and a dedicated complaints form exists. SquaredFinancial describes its product and services well, reducing the need for support to emergencies, in which case swift access is available.
Clients have access to 24/5 customer support.
SquaredFinancial also maintains a dedicated complaints procedure.
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Bonuses and Promotions
Traders who open an account and make a minimum deposit of $100 will receive a $50 welcome bonus from SquaredFinancial. Active traders will lower their cost structure with the volume-based cashback offer. For each traded lot, SquaredFinancial pays traders $2.00; that decreases the pricing environment from $5.00 to just $3.00 per round lot, possibly the best offer traders will find. Terms and conditions apply, and SquaredFinancial notes the cashback promotion is a limited time offer.
SquaredFinancial offers a $50 welcome bonus.
The volume-based cashback promotion lowers trading costs to among the lowest in the industry.
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Opening an Account
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Deposits and Withdrawals
SquaredFinancial supports bank wires, credit/debit cards, Skrill, Neteller, FasaPay, PayTrust, RPNPay, Perfect Money, PayRetailers, Help2Pay, AwePay, China Union Pay, EasyEFT, and PagSmile. Cryptocurrency payments in BTC, BCH, ETH, LTC, XRP, and USDT through Finrax are also possible. SquaredFinancial does not levy internal fees, but third-party charges may apply. Most processing times are instant, except for bank wires. The overall mix of payment providers offers traders an excellent choice.
The choice of payment processors and supported currencies at SquaredFinancial is excellent.
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- Headquarters : Cyprus
- Regulation : CySEC, FSA
- Type of Broker : 35,38
- U.S. Clients Allowed :
- Minimum Deposit : 0$
- Maximum Leverage : 1:500
- Commissions / Spreads : Both
- Account 1 : Pro
- Account 2 : Elite
- Demo Account :
- Islamic Account :
- Segregated Account :
- Managed Accounts :
- Deposit Options :
- Withdrawal Options :
- ETFs :
- CFDs :
- Commodities :
- Metals :
- Stocks :
- Oil :
- Gold :
- Binary Options :
- Indices :
- Type of Platform : MetaTrader 4, MetaTrader 5
- Platform Languages :
- OS Compatibility :
- Trading Signals :
- Charting Package :
- Market Analysis :
- Chart Trading :
- Automated Trading :
- Scalping :
- Hedging :
- Mobile Alerts :
- E-mail Alerts :
- Trailing Stops :
- Guaranteed Stop Loss :
- Guaranteed Limit Orders :
- Guaranteed Execution :
- One-click Execution :
- OCO Orders :
- Interest on Margin :
- Web-based Trading :
- Mobile Trading :
- Website Languages :
- Support Hours : 24/5
- E-mail Support :
- SMS Support :
- Chat :
Pros and Cons
Quality education program SquaredAcademy
No minimum deposit for the commission-free trading account
Dynamic leverage and volume-based rebate program
Above-average leverage for equity traders
$5,000 minimum deposit for the commission-based trading account
Limited asset selection
No MT4/MT5 upgrades
Squared Financial vs Comparisons
We have gathered a list of the top broker alternatives to Squared Financial, and conducted an in-depth broker comparison to assist you in choosing the right broker for your trading needsBack to Top
Is SquaredFinancial regulated?
Yes, Squared Financial has regulatory oversight as provided by the CySEC and the FSA.
Does SquaredFinancial offer a demo account?
Yes, a demo account is available.
What trading platform does SquaredFinancial provide?
SquaredFinancial provides traders with the out-of-the-box MT4 and MT5 trading platforms.
What is the minimum deposit to open a SquaredFinancial account?
The commission-free Pro Account has no minimum requirement, and the commission-based Elite Account requires a minimum of $5,000.
Is SquaredFinancial a scam?
No, SquaredFinancial is a legit, regulated, and fully compliant online broker.Back to Top
SquaredFinancial provides traders with one of the best cost structures among all online brokers, and new traders have access to an excellent educational selection inside the SquaredAcademy. The US$1,000,000 insurance policy per client remains market-leading, and the volume-based cashback program is excellent. Unfortunately, SquaredFinancial only maintains the core MT4/MT5 trading platforms without offering any of the necessary upgrades, and the asset selection is below average. Overall, SquaredFinancial is a broker to consider, especially as a secondary choice to a prime broker with more competitive trading tools.
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