SquaredFinancial Review | ProbusFX
Leverage: 1:30 | 1:500
Regulation: CySEC, FSA
Min. Deposit: $250
HQ: Cyprus
Platforms: MT4, MT5, Mobile App
Found in: 2005
Leverage: 1:30 | 1:500
Regulation: CySEC, FSA
Min. Deposit: $250
HQ: Cyprus
Platforms: MT4, MT5, Mobile App
Found in: 2005
SquaredFinancial, previously known as SquaredDirect and before that as ProbusFX, is a Forex and CFDs trading broker holding its headquarters in Cyprus. The broker gives access to trade CFDs on Forex, Precious Metals, Energies, Indices, Futures, Stocks, ETFs, and Cryptos.
Based on our findings, the broker chooses its mainstay and the main approach on a technology-driven trading process with No Dealing Desk Intervention. Therefore, institutional-grade liquidity delivers ultra-fast, tight-spread pricing with low latency and market execution.
The broker, like any financial services provider, has both advantages and disadvantages to consider. On the positive side, SquaredFinancial offers competitive trading conditions, different payment methods, and access to a range of financial instruments through the advanced MT4 and MT5 trading platforms.
For the cons, there is no 24/7 support, which could be a concern for some traders seeking immediate assistance. Additionally, the broker changed the name several times and lacks a top-tier license, which may raise regulatory oversight concerns for potential traders. Therefore, you should carefully evaluate and conduct thorough research before deciding whether the broker aligns with your specific trading needs and preferences.
Advantages | Disadvantages |
---|---|
European license and oversee | No top-tier license |
MT4 and MT5 trading platforms | No 24/7 support |
Popular trading instruments | Conditions vary based on entity |
Competitive trading conditions | |
Education | |
Low Spreads | |
Global coverage including Asia, Europe and Middle East |
🏢 Headquarters | Cyprus |
🗺️ Regulation | CySEC, FSA |
📉 Instruments | CFDs on Forex, Energies, Indices, Precious Metals, Futures, Stocks, ETFs, and Crypto |
🖥 Platforms | MT4, MT5, Mobile App |
💰 EUR/USD Spread | 1.1 pips |
🎮 Demo Account | Provided |
💰 Base currencies | EUR, USD, GBP, CHF |
💳 Minimum deposit | $250 |
📚 Education | Educational materials, market analysis |
☎ Customer Support | 24/5 |
According to our research, the firm provides competitive trading conditions, and access to more than 10,000 trading instruments backed up with sophisticated trading platforms offering low spreads. The broker ensures global coverage offering its services in many countries.
Ranking | SquaredFinancial | Goldwell Capital | Scandinavian Capital Markets |
---|---|---|---|
Our Ranking | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐ | ⭐⭐⭐⭐ |
Advantages | Trading Instruments | Trading Conditions | Trading Platforms |
Even though, spreads, platforms, and market range are good at SquaredFinancial, we have conducted a comprehensive analysis and compiled a list of possible broker alternatives to the firm.
No, SquaredFinancial is not a scam but a regulated broker fully authorized by the European authority CySEC. Due to its nature and being a part of the EU, the CySEC registered companies deliver high-level investment services established in strict accordance with the set of rules and a cross-registration belonging to the EEA zone.
Yes, SquaredFinancial is a legit and regulated brokerage firm that holds the necessary licenses and follows regulations for offering Forex trading services.
However, the broker also holds an offshore license in Seychelles. Therefore, you should conduct your research, including reading user reviews and considering other factors, to assess the broker’s reputation and legitimacy.
Read our conclusion on SquaredFinancial reliability:
SquaredFinancial Strong Points | SquaredFinancial Weak Points |
---|---|
CySEC-regulated broker | Trading via offshore zone |
Negative Balance Protection | Trading offerings and protection standards vary depending on the entity |
Compensation Scheme | |
Global Coverage |
As the client regulation requirement focuses on client safety and fair treatment, SquaredFinancial delivers dedicated support along with unparalleled safety to every investor, with security procedures for money handling.
That covers money segregation, which means the company can’t touch the client’s funds at any time along with the participation in the schemes in case of insolvency. In addition, the broker applied for Negative Balance Protection which keeps the trading accounts protected from losses that exceed the initial balance.
While leverage can provide benefits by allowing traders to enter the market with a smaller initial investment, you should be aware of the potential risks it carries. Having a comprehensive understanding of leverage enables individuals to make well-informed decisions and effectively manage the associated risks when engaging in leveraged trading.
SquaredFinancial leverage is offered according to CySEC and FSA regulations:
Per our findings, the broker offers 2 different account types, SquaredPro and SquaredElite which are suited to the traders’ needs and experience requirements.
The traders at the beginning can sign up for a risk-free Demo account and further transfer it to the Live account. Muslim Traders are welcomed at SquaredFinancial also, while able to choose any account type with a Swap-free feature.
Pros | Cons |
---|---|
Fast digital account opening | Conditions vary depending on the account type |
Multiple currencies base accounts | |
Low minimum deposit amount | |
Demo Account | |
Islamic Account |
Opening an account with a broker is an easy process, as you can log in and register with SquaredFinancial within minutes. Just follow the opening account or sign-in page and proceed with the guided steps:
SquaredFinancial trading Instrument range is offered through FX and CFD models offering over 10000+ trading assets including crypto, futures, metals, energies, metals, indices, ETFs, and stocks.
Reviewing the broker’s fee structure we found that the broker’s pricing depends on the account type you select and are either commission or spread-based. SquaredPro Account type offers no commission trading with standard spreads for FX pairs, whereas SquaredElite account offers spreads starting from 0 pip, however, charges a $5 commission fee. Moreover, the broker does not charge deposit/withdrawal fees, however, you should consider rollover and inactivity fees.
SquaredFinancial Overnight fee or overnight funding is another cost or gain you should take into consideration. Generally, the overnight fee applies to those positions that are referred to as long ones. For example, a long position will cost -12.5 for buying or 5.5 for selling position on EUR/USD pair.
Fees | SquaredFinancial Fees | Goldwell Capital Fees | Scandinavian Capital Markets Fees |
---|---|---|---|
Deposit fee | No | No | No |
Withdrawal fee | No | No | Yes |
Inactivity fee | No | Yes | Yes |
Fee ranking | Low | Average | Low/Average |
Per our test trade, SquaredFinancial spreads depend on the chosen account, the trading costs for SquaredPro would be included in the low-tight spread offering with an average of EUR/USD 1.1 pips or represent an even lower spread provided by interbank, but with a commission per trade. Whereas SquaredElite account type offers spreads starting from 0.0 pips with a commission of $5 per transaction.
Asset/ Pair | SquaredFinancial Spread | Goldwell Capital Spread | Scandinavian Capital Markets Spread |
---|---|---|---|
EUR USD Spread | 1.1 pips | 1.8 pips | 0.0 pips |
Crude Oil WTI Spread | 3 | 4 | 4 |
Gold Spread | 0.10 USD | 50 cents | 50 cents |
The SquaredFinancial clients can perform straightforward deposits or withdrawals that are performed with security and convenience through the client area. The range of depositing options includes the most common credit cards, bank wire, and e-payments, while another bonus is a 0% fee or commissions on deposits or withdrawals.
Here are some good and negative points for SquaredFinancial funding methods found:
Advantage | Disadvantage |
---|---|
Fast digital deposits | Conditions may vary according to the trading entity |
Multiple account base currencies | |
No deposit and withdrawal fees |
The broker’s minimum deposit amount is $250 for SquaredPro accounts. While for SquaredElite the initial deposit amount is €5,000.
SquaredFinancial minimum deposit vs other brokers
SquaredFinancial | Most Other Brokers | |
Minimum Deposit | $250 | $500 |
We found that the broker does not impose any fees for deposits and withdrawals. The withdrawal options include the most used Bank Wire, Cards, and some e-wallets.
To initiate a withdrawal fund from your trading account, the brokerage firm provides a set of typical steps that can be followed:
Traders have access to the industry leader MetaTrader4 and MetaTrader 5 trading platforms, compatible with all devices, mobiles, and tablets. Additionally, the broker offers its proprietary SquaredFinancial mobile app. The platforms are well-known for their advanced trading capabilities, powerful level of analytical and technical tools and additional features that enable vast trading possibilities.
PLatforms | SquaredFinancial Platforms | Goldwell Capital Platforms | Scandinavian Capital Markets Platforms |
---|---|---|---|
MT4 | Yes | Yes | Yes |
MT5 | Yes | No | No |
cTrader | No | No | Yes |
Own Platform | Yes | No | No |
Mobile Apps | Yes | Yes | Yes |
For the traders’ convenience, the company included also a mobile version suited to any device Android or iOS. All in all, makes a broker’s offering even more powerful through the back-office reporting functions, statements, and further planning through an adjustment to the existing strategies.
The broker provides 24/5 customer support through Email, Phone, and Live Chat. Plus, their Secure Client Area gives users complete account management solutions and a real-time news feed accompanied by plentiful educational resources and market commentary for traders’ convenience.
See our find and Ranking on Customer Service Quality:
Pros | Cons |
---|---|
Quick response | No 24/7 support |
Relevant answers | |
Supporting numerous languages | |
Availability of Live Chat |
In the end, we found that the broker offers market insights and analysis, financial articles, webinars, video tutorials, and live market news streaming directly to the platform along with the economic calendar. These resources are all designed to enhance the knowledge and skills of traders.
In conclusion, SquaredFinancial is a regulated brokerage firm that acts as an intermediary between traders and liquidity providers. The company provides competitive trading conditions and access to popular trading instruments through the advanced MetaTrader platforms, which both beginners and professionals favor. Traders can benefit from low pricing and tight spreads across various trading activities. Additionally, users have access to an extensive range of educational materials that support them in expanding their knowledge and staying informed about the market.
Overall, we found that the broker provides a good trading environment, however, there are drawbacks as well, such as trading within an offshore zone and the absence of 24/7 customer support. Therefore, we advise conducting your research and evaluating whether the broker’s offerings suit your specific trading requirements.
Based on Our findings and Financial Expert Opinions SquaredFinancial is Good for:
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