8 /10
Overall Rating

SquaredFinancial Review

Read this SquaredFinancial broker review before opening your account! Is SquaredFinancial Scam or Reliable Forex Broker? What are the benefits of trading with this broker? The only unbiased Squared Financial trader review!

While conducting our broker reviews AtoZ Markets team checks every broker carefully. The very same standards apply in the case of this SquaredFinancial broker review. This is how we conduct our broker reviews.

Attention: While conducting our extensive Squared Financial review, we had a real trader open an account, trade, withdraw, and conduct the broker as a shadow customer.

Squared Financial Forex Broker

Squared Financial Forex Broker services are under CySEC regulation. SquaredFinancial provides traders a global investment gateway, that offers a full range of trading instruments and trading services. During our company research we concluded that this broker has a very competitive execution. Traders can use Squared FInancial MT4 to access a wide range of Forex pairs, Energies, Metals, and Indices.

Overview

Company
8 /10
Trust
8 /10
Trading Platform
7 /10
Account Types
8 /10
Costs
8 /10
Customer Support
9 /10
Regulation
8 /10

We conducted this review after depositing $1000 and trading with Squared Financial for 10 days, 14 orders, and a full withdrawal. During this process our trader made $193.46 profit.

Company

8 /10

SquaredFinancial as a Global Investment Gateway provides a full range of financial products and services as a true STP Forex broker. The company's customer support and Forex educational academy will help you manage, grow, or diversify your investments. SquaredFinancial CySEC license enables the broker to operate throughout the EU. Traders can access a wide range of financial instruments to create their investment portfolio, including Energies, Forex, Metals, Indices, and Cryptocurrencies. Moreover, SquaredFinancial is focussing heavily on building partnerships and boasts a multilayer IB/ Affiliate program. 

Benefits of trading with Squared Financial

  • MT4 trading platform with AutoTrade feature supported by MyFxBook;
  • Very good execution, suitable for EA trading;
  • SquaredAcademy with free access to video tutorials, research articles and more
  • Market analysis tools: Live market news, daily market outlook, commentary, and financial events
  • Personal account managers available 
  • SquaredFinancial is fully licensed and regulated by the Cyprus Securities and Exchange Commission and Member of the Investor Compensation Fund (ICF)

Pitfalls of Squared Financial

  • If you are from the USA, you can not trade with this broker;
  • The broker does not offer MT5 yet;
  • SquaredFinancial offers a limited number of languages support;
  • They don't offer Cryptocurrency trading yet.

Trust

8 /10

Besides the proper regulation with CySEC, SquaredFinancial ensures the safety of their clients' funds by working with reputable international banking Institutions and having negative balance protection automatically installed, irrespectively to the chosen account type by the trader. Alongside these points, SquaredFinancial is audited on a regular basis by the reputable auditor Deloitte.  

Furthermore, SquaredFinancial is a member of the Investor Compensation Fund, and all client transactions are authorized and secured. This means that in case something happens to the broker, you can always apply for the investor compensation fund from CySEC. 

Also, SquaredFinancial’s client funds are kept in segregated accounts with reputable banks, which ensures protection from risks related to the company's activities. Meaning that in any scenario when things go wrong with the SquaredFinancial, your deposits and trade profits are safely stored in a separate bank account.

Trading Platform

7 /10

Like many other brokers SquaredFinancial offers MT4 trading platform. Traders can access their accounts on PC, mobile, and MAC.

Square Financial MetaTrader 4

MetaTrader 4 (MT4) is probably the most used trading platform in the market. With Squared Financial MT4, you can create custom layouts and templates for your trading workspace and style. MT4 is capable, user-friendly, and flexible.

SquaredFinancial provides trading opportunities to speculators and professional traders to trade Forex, Precious Metals, Index CFDs, and Energy CFDs using this platform.

The highly-rated charts in the platform also allow downloading additional historical data for backtesting and analysis. The majority of the interface is customizable, including the market watch panel and blotter and feature layouts. It offers market execution on MT4 as well as limit and stop orders. 

SquaredFinancial MT4 services review:

  • No limitation for automated trading;
  • EA friendly (some of the tests came better than other Forex brokers due to low latency);
  • Trading Signals through the MT Signal Service;
  • No limitation for Scalping and Hedging (don't mix arbitrage);

For traders' convenience, SquaredFinancial also has the mobile versions of MT4 available for both iOS and AndroidTM smartphones, tablets, and other devices. Traders can see live prices, trade all the MT4 order types, and view your trading history with the easy to use MT4 mobile trading application. Moreover, you can receive push notifications, alerts, receive news, and chat with other traders.

SquaredFinancial Trading Academy

Our trader pretended to be a new trader with limited knowledge. So, we got diverted towards the Squared Financial trading academy. This is a very positive sign according to our rating mechanism. In essence we see such brokers valuing their clients' knowledge, investing in them.

The broker does not restrict access to their academy. All the educational materials and resources of the Squared Academy come free of charge too. Based on our tests, their educational content is as conflict-free as it gets. When you start the video tutorials, you can track your progress easily, even when you left off and return. To give you a brief overview, you can access the following learning materials: 

  • eBooks
  • Trading guides
  • Glossary
  • Research Articles 
  • Daily market analyses
  • Comprehensive list of Frequently Asked Questions 
  • Trading Tips from professional traders and portfolio managers
  • Video tutorials

SquaredFinancial AutoTrade review

Let's now look at the Squared Financial social trading solution. If you are not familiar with social trading, it means that you mirror or copy trades from another successful trader. Meaning that when the trader you are following makes a successful trade and you copy his trade, you also earn the profits. 

SquaredFinancial social trading goes under the name of AutoTrade, which is owned and operated by MyFxBook. The good thing about this copy trading service with SquaredFinancial AutoTrade is that you are able to copy trades from the most successful traders by using algorithmic trading robots (Expert Advisors), that will run up to 24 hours a day without requiring any supervision, but there is more to it: 

SquaredFinancial Autotrade

Squared Financial MAM accounts

If you are opening an account with this broker you can expect to have a personal account manager. This comes handy if you have any issues, or face any possible problems while trading. So, you can pick up the phone call your account manager any day during the working hours.

Meanwhile Squared Financial MAM (Multi-Account Manager) accounts enable traders to manage multiple accounts from just one trading account. This gives good traders an opportunity to attract funds outside and trade almost as a fund manager. However, keep in mind you might have to get a license (depending on your country).

The broker also didn't create any issue when we tried to scalp. They claim that traders can use any strategy that fits their personality. This is something that not all brokers in the market offer. 

Account Types

8 /10

SquaredFinancial offers three different Account Types with outstanding Trading Conditions, covering the needs of all types of Traders. SquaredFinancial prides itself on supporting and respecting its clients as traders.

SquaredFinancial Account Types

#1 Gold Account (This is the account we had direct experience with)

This account is most suitable for beginner to advanced traders who prefer keeping their trading as simple as possible. Gold accounts contain all charges within spreads and swaps to save traders' precious time in having to do extra calculations. Key Features of Silver Gold Account:

  • Base Currencies = EUR and USD
  • Commission (FX) = No
  • Spreads = From 1.2 pips
  • Minimum First Deposit- 100 USD or EUR
  • Leverage = 1:100
  • Contract size (FX) 1 Lot = 100,000
  • Minimum Trade Volume (FX) = 0.01
  • Maximum Volume per Trade = 1000
  • Trade size increment = 0.01
  • Hedging = Yes
  • Swap = Yes
  • Scalping = Yes 
  • Automated Trading/Expert = Yes
  • Margin Call Level = 1
  • Stop Out Level = 0.5
  • Negative Balance Protection = Yes

#2 Platinum Account

The Ultimate choice for traders who want to have access to all instruments on offer with direct Raw Spreads trading. Better suitable for skilled traders who prefer a high-volume account at a minimum first deposit of only 500 EUR or USD.

  • Base Currencies =  EUR and USD
  • Commission (FX) = 6$ 
  • Spreads = From 0.0 pips
  • Minimum First Deposit = 500 USD or EUR
  • Leverage = 1:100
  • Contract size (FX) 1 Lot = 100,000
  • Minimum Trade Volume (FX) = 0.01
  • Maximum Volume per Trade = 1000
  • Trade size increment = 0.01
  • Hedging = Yes
  • Swap = Yes
  • Scalping = Yes 
  • Automated Trading/Expert = Yes
  • Margin Call Level = 1
  • Stop Out Level = 0.5
  • Negative Balance Protection = Yes

#3 Diamond Account

This account is for pro Traders and Institutional Clients. SF Diamond Account offers Spreads & Commissions usually reserved for Institutions to Individual Traders for High-Volume trading on all offered assets.

  • Base Currencies = EUR and USD
  • Commission (FX) = $25 per million USD
  • Spreads = From 0.0 pips
  • Minimum First Deposit = 20,000 USD or EUR
  • Leverage = 1:500
  • Contract size (FX) 1 Lot = 100,000
  • Minimum Trade Volume (FX) = 0.01
  • Maximum Volume per Trade = 1000
  • Trade size increment = 0.01
  • Hedging = Yes
  • Swap = Yes
  • Scalping = Yes 
  • Automated Trading/Expert = Yes
  • Margin Call Level = 1
  • Stop Out Level = 0.5
  • Negative Balance Protection = No

Is trading with SquaredFinancial Halal?

Many traders often ask if Forex is Halal or Haram. So, is trading with Squared Financial halal or haram?

Although Squared Financial does not have any Islamic Account, in our opinion you can turn your experience into a halal experience until you get Squared Financial Islamic accounts.:

  • Trade Intraday (don't sustain swap);
  • Don't gamble, but trade/invest;
  • Invest in social trading account;

In our opinion, trading with this broker and any other broker can be halal, if you follow these simple rules.

 

Costs

8 /10

SquaredFinancial offers a floating type of trade spreads. Therefore, the spread may vary due to market volatility of the currency pairs and which account type you will be choosing.

Attention: While testing the broker we started with their basic (gold) account type with a $1,000 deposit.

  • Gold account: spreads from 1.2 pips, whilst the commission is zero.
  • Platinum account: spreads are from 0.0 pips, but the commission will be $6.
  • Diamond account: spread from 0.0 pips, but the commission is $25 per million USD.

SquaredFinancial CostMaximum Squared Financial leverage is 1:500, however in most cases you will get 1:100 maximum leverage.

Customer Support

9 /10

SquaredFinancial support is very effective. You can reach out them 24/5 a week. On their website they offer 3 languages; ENG, Arabic, and Chinese. The broker offers a wide range of contact methods for its traders, which include:

Besides these contact methods, traders may file a complaint and send a query through a contact form. 

 

Deposits and Withdrawal with Squared Financial

When it comes to deposits and withdrawals, the company supports the following methods: 

  • Visa
  • Mastercard
  • Maestro
  • Unionpay
  • Alipay
  • Skrill
  • Neteller 
  • Bank transfer (Natwest, Bank of Cyprus)

For making deposits or withdrawal, traders will need to register and access the SquaredFinancial client portal, for withdrawals, traders will need to verify their account with SquaredFinancial.

Regulation

8 /10

As we covered in the company review section, SquaredFinancial is a trading name of Squared Financial (CY) Limited. They are fully licensed and regulated by the Cyprus Securities and Exchange Commission – CySEC (Licence Number: 329/17). The company is also a Member of the Investor Compensation Fund (ICF). 

SquaredFinancial (Seychelles) Ltd is a company registered in the Republic of Seychelles, Company Number: 8423788-1 Authorised and Regulated by the Financial Services Authority. FSA License Number: SD024.

SquaredFinancial does not hide any information and shows all of these details on its website, which is a signal that the broker is trustworthy.

Conclusion

Is Square Financial scam? We have spent days analyzing this CySEC broker. So, after our AtoZ Markets approval tests, we have concluded that Squared Financial is a reliable forex broker.

The company holds the popular Cyprus Securities and Exchange Commission (CySEC) license. Moreover, it is a Member of the Investor Compensation Fund (ICF) and installed additional safety measures for its traders, such as the negative balance protection and segregated client funds. Therefore, it is safe to say after AtoZ Markets research that SquaredFinancial scores well on the trust factor. 

When it comes to the trading score, SquaredFinancial only offers MT4. They have 3 types of trading accounts and expecting to launch Islamic trading accounts soon too. However, they offer a wide range of trading instruments, including Forex, stock, commodities, metals, and indices. Also, traders can access all the learning materials of the SquaredAcademy free of charge. Additionally, traders are open to the scalp, hedge, get access to a personal account manager, and utilize SquaredFinancial’s AutoTrade system to mirror trades of professionals.  

We also loved the execution with SF. It is not a surprise though! Their “best execution” report from 2019 outlines reasons why their execution is among the best.  Now this concludes our review of SquaredFinancial, if you have traded yourself before with SquaredFinancial then share with us and the AtoZ Markets community your comments or experiences with SquaredFinancial.

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