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SquaredFinancial is a forex broker located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
Be aware, the company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
SquaredFinancial accepts clients from all over the world, excluding USA, Canada, Russia, Belarus, Iran, North Korea and some other FATF sanctioned countries.
Forex broker offers the following underlying assets for trading.
| 50+ Currency Pairs | Based on major and minor world currencies. |
| 20+ Crypto Pairs | Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Solana, Cardano, Cosmos, Avalanche, Polkadot, EOS, DogeCoin, Fantom, Chainlink, Terra, Polygon, Shiba, Tron, Uniswap. |
| 15 Indice CFDs | Based on baskets of different blue-chip stocks and US Dollar Index. |
| 3 Metal Spot CFDs | Based on Gold, Silver and Copper. |
| 3 Energy Spot CFDs | Based on Crude Oil (WTI, Brent) and Natural Gas. |
| 3 Soft CFDs | Based on Cocoa, Cotton, Coffee. |
| 1000+ Stock CFDs | Based on shares of US and EU companies. |
SquaredFinancial is a forex broker set up all the way back in 2005 and headquartered in Cyprus. Given that the broker is registered within the EU, it is subject to strict European regulations on things like trading leverage. As a result, leverage with this broker is limited to 1:30, regardless of where the client is from.
A special thing about SquaredFinancial is the very large selection of stock CFDs it offers. These are based on companies listed in the US and across a range of stock markets in Europe, including the London Stock Exchange, NYSE Euronext Paris, NASDAQ OMX Stockholm, SIX Swiss Exchange, and many others.
In terms of commissions on stocks, US-listed stocks can be traded for a minimum commission of USD 2, while European stocks can be traded for a minimum commission of EUR 5.
Other instruments offered by SquaredFinancial includes of course all of the commonly traded forex pairs, more than 20 cryptocurrency pairs, most major stock indices, as well as a handful of the most popular commodities. All of the instruments are traded in the form of leveraged CFDs, which makes it easy to go both long and short, and make sizable profits even with a relatively small trading account.
All of the instruments offered by the broker can be traded on either MetaTrader 4 (MT4), MetaTrader 5 (MT5), or on the broker’s own web platform Squared WebTrader. Among these, MT4 and 5 should already be well-known among traders, while SquaredFinancial’s own WebTrader is probably less known.
First and foremost, Squared WebTrader stands out since it runs entirely in the web browser, and is therefore not dependent on any specific hardware or software requirements. The platform has also received some recognition from the trading community, and in 2022 it was awarded the “Best Leading Trading Platform” by International Finance. The award “shows our commitment to delivering to you the best technology and service wherever you are in the world,” SquaredFinancial wrote in a comment on its Facebook page at the time.
To start trading with SquaredFinancial, new clients need to choose which type of account they want to trade with. For this, SquaredFinancial has two choices; an STP-style SquaredPro account with no commissions but spreads from 1.2 pips, and an ECN-style SquaredElite account with commissions from $5 per lot and tight spreads starting from 0 pips.
As usual, the STP account is more suitable for beginners, and comes with a minimum deposit requirement of 250 EUR. The ECN-type of account, on the other hand, is a far better option for those with larger trading accounts, and comes with a minimum deposit of 5,000 EUR or the equivalent in another currency. Both account types can be opened in euros, US dollars, British pounds, or Swiss francs as its base currency.
To fund a trading account, SquaredFinancial clients can make a bank transfer, use Visa, MasterCard, or UnionPay, or use the popular e-wallets Skrill, Neteller or the Chinese mobile payment app AliPay. Unfortunately, crypto deposits and withdrawals are not available from this broker.
SquaredFinancial’s support team can be reached by calling its Cyprus office directly, or using email, Facebook Messenger or live chat via the website. The broker does not provide any details about its support team’s working hours on its website, which is a bit unfortunate in our opinion.
In conclusion, we think SquaredFinancial could be a decent choice, particularly for traders based in the EU who want to use a locally regulated broker. This brings peace of mind, and means that there is at least a reputable government agency to turn to in the event something happens or the broker for example goes bankrupt. All in all, SquaredFinancial could therefore be a player to keep in mind when choosing a new forex broker.
