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Square FX -

Score

1.38 /10
Danger

Square FX

United Kingdom

2-5 years

Suspicious Regulatory License

White label MT5

Regional Brokers

High potential risk

https://www.squarefx.uk

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Regulatory Index0.00

Business Index5.98

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

No valid regulatory information, please be aware of the risk

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Broker Information

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Company Name

Square FX

Company Abbreviation

Square FX

Platform registered country and region

United Kingdom

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-09-21
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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Square FX · Company summary

Note:Square FX's official website:https://starfx-trade.com/indexbc14.html？a=home is currently inaccessible normally.

AspectInformation
Company NameSquare FX
Registered Country/AreaUnited Kingdom
Founded Year2012
RegulationUnregulated
Account TypesStandard,Crystal Diamond
LeverageUp to 1:500
SpreadsFrom 0 to 2.5 pips
Trading PlatformMT5
Minimum Deposit$100
Market InstrumentsForex,Metals,Energy,Indices,Cyrptocurrencies
Customer SupportPhone:+44 7537 175014,Email:support@squarefx.uk

Square FX Information

Established in 2012 in the United Kingdom, Square FX is an unregulated trading venue. It provides trading leveraging up to 1:500 on the MT5 system.

Its great leveraging is the main benefit. Its uncontrolled condition is the main drawback since it causes great hazards.

Pros and Cons

ProsCons
Leverage up to 1:500Unregulated
Offers trading on MT5 platformWebsite currently inaccessible
Minimum deposit of $100Spreads can be as high as 2.5 pips

Is Square FX Legit？

Square FX is an unregulated broker since it runs without government supervision. The lack of legislative protection calls potential investors great caution.

Is Square FX Legit?

The official website of SP Markets is prohibited now.

What Can I Trade on Square FX？

Square FX offers many popular market instruments including over 30 currency pairs and multiple cryptocurrencies.

What Can I Trade on Square FX?
Tradable InstrumentsSupported
Forex✔
Indices✔
Commodities✔
Stock Indices✔
Precious Metals✔
Cryptocurrencies✔
Agricultural Items❌
Bonds❌

Account Type

Square FX offers three types of live accounts: Standard, Crystal, and Diamond. They do not provide demo accounts or Islamic accounts.

Account NameMin. DepositLeverageSpreadsSuitable For
Standard$1001:5002.5 pipsBeginners
Crystal$1,0001:300Not specifiedIntermediate traders
Diamond$10,0001:2000-0.3 pipsAdvanced traders

Square FX Fees

Square FX's fees are relatively high compared to industry standards.

Trading Fees

Trading fees include spreads, commissions, and swap rates.

Square FX Spreads and Commissions

Spreads for Standard accounts start at 2.5 pips with no commission, Crystal accounts have 2 pips with no commission, and Diamond accounts offer 0-0.3 pips with a $15 charge.

Trading Fees
Account NameSpreadsCommissions
StandardFrom 2.5 pips$0
Crystal2 pips$0
Diamond0-0.3 pips$15 charge

Non-Trading Fees

Square FX does not charge any deposit or withdrawal fees.

Trading Platform

Trading PlatformSupportedAvailable DevicesSuitable for
MT5✔Desktop Terminal, Mobile iOS, Mobile AndroidExperienced traders
Square FX Platform✔Desktop Terminal, Mobile iOS, Mobile AndroidAll types of traders
Trading Signals✔Desktop Terminal, Mobile iOS, Mobile AndroidAll types of traders
MT4❌--
TradingView❌--
Trading Platform

Deposit and Withdrawal

Square FX does not charge any deposit or withdrawal fees. The minimum deposit required is $100 for the Standard account, $1,000 for the Crystal account, and $10,000 for the Diamond account.

Deposit OptionsMin. DepositFeesProcessing Time
Bank Transfer$100 / $1,000 / $10,000None1-3 business days
Credit/Debit Card$100 / $1,000 / $10,000NoneInstant

Customer Support

Square FX provides 24/5 customer support. Support options include phone, email, and online chat.

Contact OptionsDetails
Phone+44 7537 175014
Emailsupport@squarefx.uk
Online Chat✔
Supported LanguageEnglish
Live Chat✔
Customer Support

The Bottom Line

The main benefit of Square FX is great leverage up to 1:500. Its uncontrolled position is a major disadvantage, nevertheless, and puts great danger to traders. Experienced traders who are at ease with bigger risks may find this broker most appropriate.

FAQs

Is Square FX safe？

No, Square FX is unregulated.

Is Square FX good for beginners？

No, it is not ideal for beginners due to high risks.

Is Square FX good for day trading？

Yes, it offers features suitable for day trading.

User Reviews

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User comment

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Comments

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FX1453114082
more than one year
Let me give you the lowdown on Square FX. I would say that their service quality is decent. However, I have found that the other trading conditions they offer are not ideal. For example, their spreads are higher than other brokers I have traded with, which can significantly impact my profitability. Additionally, the trading platform can be quite unstable at times, which can be frustrating when trying to make trades quickly.
Let me give you the lowdown on Square FX. I would say that their service quality is decent. However, I have found that the other trading conditions they offer are not ideal. For example, their spreads are higher than other brokers I have traded with, which can significantly impact my profitability. Additionally, the trading platform can be quite unstable at times, which can be frustrating when trying to make trades quickly.
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2023-03-28 21:09
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FX1299488032
more than one year
Square FX are very terrible in their customer service and doing fraud with customers' payments. Be attentive if you are making a big payment. They took my money and deny me a refund...
Square FX are very terrible in their customer service and doing fraud with customers' payments. Be attentive if you are making a big payment. They took my money and deny me a refund...
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2023-03-01 12:19
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