SquaredFinancial Review | ProbusFX

Our Review Method

• 55Brokers Financial Experts with over 10 years of experience in Forex Trading check all trading offerings, regulations and licenses, fees, spreads, platforms, customer service, and placed traders to see trading conditions and give expert opinions about SquaredFinancial.

What is SquaredFinancial?

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.

SquaredFinancial Pros and Cons

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.

Overall SquaredFinancial Ranking

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.

• SquaredFinancial Overall Ranking is 7.9 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.

SquaredFinancial Alternative Brokers

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.

• Pepperstone – Good Broker with Excellent Platform Range
• Goldwell Capital – Competitive Trading Conditions
• Scandinavian Capital Markets – Competitive Spreads

Is SquaredFinancial Safe or Scam?

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.

Is SquaredFinancial Legit?

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:

• Our ranked SquaredFinancial Trust Score is 8 out of 10 demonstrating that it is committed to following the necessary regulations and providing its clients with safe trading solutions. Yet, assess your trading needs, and preferences to determine whether the broker is a suitable fit for your specific requirements.

Client Trading Protection

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.

SquaredFinancial Leverage

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:

• Therefore, the European CySEC allows enjoying a maximum of 1:30 leverage applied to Forex retail accounts and even lower levels towards other instruments, while professional traders may apply for the higher levels.
• Yet, trading with the global offshore SquaredFinancial branches you may access higher leverage ratios that go to a maximum of 1:500.

Account Types

Per our findings, the broker offers 2 different account types, SquaredPro and SquaredElite which are suited to the traders’ needs and experience requirements.

• The account type difference is based on their minimum deposits and fees. SquaredPro offers commission-free trading with spreads, while spreads for SquaredElite raw spreads with a $5 commission per trade. 

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.

Opening SquaredFinancial Trading 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:

• Select and Click on the “Open Account” page
• Enter the required personal data (Name, email, phone number, etc.)
• Verify your data by uploading documentation (residential proof, ID, etc.)
• Complete the electronic quiz confirming your trading experience
• Once your account is activated and proven, follow with the money deposit.

Trading Instruments

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.

• SquaredFInancial Market Range ranked 8.5 out of 10 for its extensive array of Forex and CFD instruments. However, users should be aware that there may be some variation in offers between different entities as well as a slightly restricted range overall offering only CFD-based assets.

SquaredFinancial Fees

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.

Swaps

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.

• SquaredFinancial Fees are ranked low with an overall rating of 8.3 out of 10 based on our testing and compared to over 500 other brokers. Fees and commissions vary based on entity offering, see our findings of fees and pricing in the table below.

Spreads

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.

• SquaredFinancial Spreads are ranked average with an overall rating of 8.4 out of 10 based on our testing comparison to other brokers. We found forex spreads are nearly in line with the industry standard which is 1.2 pips. Other spreads are favorable too, see below the table of spreads offered by the broker.

Deposits and Withdrawal Methods

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.

• SquaredFinancial Funding Methods we ranked good with an overall rating of 8.5 out of 10. The broker fees are either small or 0 with no deposit/withdrawal fees allowing depositing with different base currencies. And the minimum deposit is among average.

Here are some good and negative points for SquaredFinancial funding methods found:

SquaredFinancial Minimum Deposit

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

SquaredFinancial Withdrawals

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.

Withdraw Money from SquaredFinancial Step by Step:

To initiate a withdrawal fund from your trading account, the brokerage firm provides a set of typical steps that can be followed:

1. Login to your account
2. Select Withdraw Funds’ in the menu tab
3. Enter the withdrawn amount
4. Choose the withdrawal method
5. Complete the electronic request with the requirements
6. Confirm withdrawal information and Submit
7. Check the current status of withdrawal through your Dashboard

Trading Platforms

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.

• SquaredFinancial Platforms are ranked good with an overall rating of 8.5 out of 10 compared to over 500 other brokers. The broker has a great offering including the leading MetaTrader Suit which is considered an industry standard.

Mobile App

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.

Customer Support

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.

• Customer Support in SquaredFinancial is ranked good with an overall rating of 7.9 out of 10 based on our testing. We got fast and knowledgeable responses, the only point is that it is not available on weekends.

See our find and Ranking on Customer Service Quality:

SquaredFinancial Education

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.

• SquaredFinancial Education ranked with an overall rating of 8 out of 10 based on our research. We found that the broker offers good learning materials suitable for all levels of users to enhance their trading knowledge.

SquaredFinancial Review Conclusion

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:

• Beginners
• Advanced traders
• Good trading tools
• European traders
• EA/Auto trading
• Copy trading
• Traders who prefer MT4 or MT5 platforms
• International traders
• Currency and CFD trading
• Competitive spreads and fees
• Good learning materials
• Suitable for a variety of trading strategies