Score

7.08 /10
Good

SQUAREDFINANCIAL

Regulated in France

Retail Forex License

MT4 Full License

High potential risk

Offshore Regulated

B
B

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Comparison

Quantity 14

Exposure

Open Account
Website

Score

Regulatory Index7.49

Business Index8.31

Risk Management Index0.00

Software Index9.99

License Index7.50

The WikiFX Score of this broker is reduced because of too many complaints!
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Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

Squared Financial Services Limited

Company Abbreviation

SQUAREDFINANCIAL

Platform registered country and region

Cyprus

Company website

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Company summary

Pyramid scheme complaint

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WikiFX Risk Alerts 2
Previous Detection : 2024-12-22
  • The number of the complaints received by WikiFX have reached 14 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The Seychelles FSA regulation with license number: SD024 is an offshore regulation. Please be aware of the risk!

WikiFX Verification

SQUAREDFINANCIAL · Benchmark
Average transaction speed(ms)
503.8
The highest transaction speed(ms)
311 Poor
The highest speed of opening positions(ms)
349
The highest speed of closing position(ms)
311
The lowest speed of opening positions(ms)
1594 Good
The lowest speed of closing position(ms)
1748
Ranking: 80 / 125
Test user 208
Transactions 1,671
Ocuppied margin $877,226 USD
Data Source WikiFX Data provide
Updated: 2024-12-20 01:12:00
Pyramid scheme complaint
Expose
Unable to Withdraw

Profit deleted

I am a regular user of Squared Financial from this year September, everything going fine, then suddenly they delete my $4406.74 profit. I contacted them several time, but they didn't revert it. I want my money back...

2023-12-23 04:04
Scam

Scaming with partners and clients

Hope you are doing well, my name is Waqas Khan marketing director Drforexofficial and we have also some sites like www.topbrokersreview.com. I used to work for forex as sales Team leader till 2020 in Cyprus . I am writing as I personally experienced unethical activity from Squared Financial. Below I will try to share exact details and I have all evidence , including linkedin conversation with BDM, CEO, CFO and also I called on their support but so far I am not able to get answer showing proof of any illegal activities but just Whatsapp communication from BDM that I will get email from compliance. We opened CPA(cost per account) with them in September as I was approached by M Aysraful BDM through LinkedIn . Aysraful offered CPA and we reached to an agreement , through Whatsapp communication we continued our partnership and we were able to send 5 ftds which were qualifed as per agreement . October 15th once It was time for payment Aysraful mentioned that I missed point and I need to send at least 10 ftds to get paid as per agreement . I checked agreement once again and agreed for same , following month I was able to send 11 Ftds out of 10 were qualified . November 15 came but again I didn't get paid , once I follow up with Aysraful he start telling me that your clients used same IP so your clients are abusers. I request to send me proof for same , but instead providing proof I am keep only getting message that compliance will send me an email . It's been 20 days I didn't get any email showing illegal activities from clients and I didn't get paid for no reason . Meanwhile they send me email end of November that my partner account got deactivated. I sent 3 emails to support , compliance , complaint and adding CFO but no answer yet . I have shared articles on different sites and shared same on my LinkedIn , got to know with different sources that they didn't pay many partners also recently few clients approach me and mentioned that their withdrawals stuck with Squared.

2023-12-06 06:25
    Sources
    SQUAREDFINANCIAL · Company summary
    SQUAREDFINANCIAL Review Summary
    Founded2022
    Registered Country/RegionCyprus
    RegulationCYSEC, AMF, FSA, CNMV
    Market InstrumentsForex, Metals, Indices, Energy, Stocks, Futures, Cryptocurrencies
    Demo Account
    Islamic Account
    LeverageUp to 1:500
    SpreadFrom 0 pips
    Trading PlatformMobile App, MT4, MT5
    Min Deposit$50
    Customer Support24/5 support
    Contact form
    Tel: 002484671943
    Enail: support@sqfin.com, complaints@sqfin.com
    Company Address: Commercial House 1, Office no 4, Eden Island, Mahe, Seychelles
    Regional RestrictionsUK, USA, Canada, Australia, New Zealand, Iran, North Korea, and Myanmar (Burma)

    Founded in 2022, SQUAREDFINANCIAL is a regulated broker registered inCyprus, offering trading in Forex, Metals, Indices, Energy, Stocks, Futures, and Cryptocurrencies with leverage up to 1:500 and spread from 0 pips through Mobile App, MT4, and MT5 platfforms. Demo accounts are available and the minimum deposit to open a live account is just $50.

    SquaredFinancial's homepage

    Pros and Cons

    ProsCons
    Regulated by CYSEC, AMF, FSA, CNMVNot accept e-wallet payments
    Various market offeringsNo live chat support
    Demo accounts availableRegional restrictions
    Commission-free account offered
    MT4 and MT5 supported
    Low minimum deposit

    Is SQUAREDFINANCIAL Legit?

    SquaredFinancial complies with the guidelines established by several important regulatory bodies:

    Cyprus Securities and Exchange Commission (CySEC): SquaredFinancial is regulated under license number 329/17.

    Autorité des Marchés Financiers (AMF): In France, SquaredFinancial operates under license number 71593.

    Seychelles Financial Services Authority (FSA): For its offshore operations, SquaredFinancial is regulated under license number SD024.

    Comisión Nacional del Mercado de Valores (CNMV): In Spain, the firm is regulated under license number 4421.

    Regulated CountryRegulated AuthorityRegulatory Status Regulated EntityLicense TypeLicense Number
    Cyprus
    Cyprus Securities and Exchange Commission (CySEC)RegulatedSquared Financial (CY) LtdMarket Making (MM)329/17
    France
    The Autorité des Marchés Financiers (AMF)RegulatedSquared Financial (CY) LtdRetail Forex License71593
    Seychelles
    The Seychelles Financial Services Authority (FSA)Offshore RegulatedSquared Financial (CY) LtdRetail Forex LicenseSD024
    Spain
    Comisión Nacional del Mercado de valores (CNMV)RegulatedSquared Financial (CY) LtdRetail Forex License4421
    Regulated by CySEC
    Regulated by AMF
    Offshore regulated by FSA
    Regulated by CNMV

    What Can I Trade on SQUAREDFINANCIAL?

    SqaredFinancial offers over 10,000 financial instruments across 7 asset classes, Forex, Metals, Indices, Energy, Stocks, Futures, and Cryptocurrencies.

    Trading AssetAvailable
    forex
    metals
    indices
    energy
    stocks
    futures
    cryptocurrencies
    bonds
    options
    ETFs
    What Can I Trade on SQUAREDFINANCIAL?

    Account Type/Fees

    Squared Financial offers two typesof live accounts with varying trading costs.

    Account TypeSquared ProSquared Elite
    Accepted CurrenciesEUR, USD, GBP, CHF
    Max Leverage1:500
    AvgEUR/USD SpreadFrom 1.6 pipsFrom 0.0 pips
    Commission$7 per lot

    Additionally, this platform offers Islamic (swap-free) accounts that have exactly the same trading terms and conditions as our regular trading account types.

    Account comparison

    Leverage

    Squared Financial offers leverage up to 1:500 for both account types. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

    Trading Platform

    Squared Financial offers a variety of trading platforms including the popular MetaTrader 4 and MetaTrader 5 platforms as well as their own SquaredFinancial Mobile App.

    Trading PlatformSupported Available Devices Suitable for
    Mobile AppMobile/
    MT4Desktop, Mobile, WebBeginners
    MT5Desktop, Mobile, WebExperienced traders

    Deposit and Withdrawal

    Squared Financial accepts deposits and withdrawals via Bank Transfer, Visa, MasterCard, cryptocurrencies, Insta Transfer, etc.

    Payment methods

    News

    NewsBe a part of SquaredFinancial Live Talk show on US Election

    The renowned broker, SquaredFinancial is hosting an exclusive pre-election conversation on October 30 with recognized expert analysts Noureldeen Al Hammoury and Dominique El Khoury.

    WikiFX
    2024-10-29 18:59
    Be a part of SquaredFinancial Live Talk show on US Election

    NewsSquaredFinancial Reveals its Brand Makeover

    SquaredFinancial, a leading financial services provider, recently unveiled its new brand identity in a bid to enhance its market presence. According to the broker, While preserving the essence and carrying the legacy of the old logo, the new visual identity, showcased below, highlights a progressive, dynamic, and modern feel, and embodies SquaredFinancial’s renewed sense of energy and optimism.

    WikiFX
    2024-07-31 14:15
    SquaredFinancial Reveals its Brand Makeover

    NewsSquaredFinancial Unveils its Social Trading feature on MT4

    SquaredFinancial announced a new Social Trading tool for the MetaTrader 4 (MT4) platform, increasing its trading capabilities.

    WikiFX
    2024-06-27 17:49
    SquaredFinancial Unveils its Social Trading feature on MT4

    ExposureThe Investor lost both principal and profit because of a broker named Squared Financial

    One unfortunate investor, Sinan, hailing from Turkey, recently found himself in a distressing situation with Squared Financial, a brokerage platform. Sinan shared his harrowing experience with WikiFX, shedding light on how he lost both his principal and hard-earned profit due to what he claims is commercial misconduct by Squared Financial.

    WikiFX
    2024-01-17 16:56
    The Investor lost both principal and profit because of a broker named Squared Financial

    User Reviews

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    User comment

    15

    Comments

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    FX1171093136
    3-6months
    我最近在平方金融上遇到了超级郁闷的事儿,想来曝光一下,也看看有没有人跟我一样倒霉。今年2月我在平方金融上赚了3000美元。当时挺开心的,以为自己操作挺成功。结果过几天再一看,发现这3000美元居然被取消了!平台也不显示取消的原因是什么,也没有任何通知! 事情发生后,我马上找了他们客服。他们家的在线客服简直是摆设,每次问都说“在处理”,让我一直等。我给他们官方和所谓的对接的客户经理发了好多邮件,结果根本没人回我。 到现在都半年了也没人给个说法。 有没有人遇到过类似的情况? 如果有,你们怎么解决的?反正我对平方金融是彻底失望了,现在就只想要回我的盈利!大家还是多留个心眼,别像我一样掉坑里了。
    我最近在平方金融上遇到了超级郁闷的事儿,想来曝光一下,也看看有没有人跟我一样倒霉。今年2月我在平方金融上赚了3000美元。当时挺开心的,以为自己操作挺成功。结果过几天再一看,发现这3000美元居然被取消了!平台也不显示取消的原因是什么,也没有任何通知! 事情发生后,我马上找了他们客服。他们家的在线客服简直是摆设,每次问都说“在处理”,让我一直等。我给他们官方和所谓的对接的客户经理发了好多邮件,结果根本没人回我。 到现在都半年了也没人给个说法。 有没有人遇到过类似的情况? 如果有,你们怎么解决的?反正我对平方金融是彻底失望了,现在就只想要回我的盈利!大家还是多留个心眼,别像我一样掉坑里了。
    Translate to English
    2024-08-06 10:53
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    FX1171093136
    3-6months
    平方金融平台无故划扣了我的一笔利润(见下方截图)!! 这几个月多次尝试联系平方金融的客服,但始终没有得到回应。一开始说是有专门的客户经理对接,又给了我一个客户经理的邮箱,但是发了邮件都不回! 希望平台尽快处理此事,给出合理解释和解决方案。
    平方金融平台无故划扣了我的一笔利润(见下方截图)!! 这几个月多次尝试联系平方金融的客服,但始终没有得到回应。一开始说是有专门的客户经理对接,又给了我一个客户经理的邮箱,但是发了邮件都不回! 希望平台尽快处理此事,给出合理解释和解决方案。
    Translate to English
    2024-08-05 15:02
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