Here are the 9 pros and cons:

SquaredFinancial Fact sheet

Safety and security of funds is a major concern of every professional trader and the most important feature to look for in a broker is regulations. 

SquaredFinancial is authorized and regulated in Cyprus and in Seychelles. However, it should be noted that both financial regulatory bodies are mild when it comes to licensing brokers. 

SquaredFinancial is a group of two brokers registered with different regulators. Depending on where you are opening the account, you might be registering either one or the other.

• Squared Financial (CY) Ltd, is authorized and regulated by the CySEC under license No. 329/17.
• Squared Financial (Seychelles) Ltd is authorized and regulated by the FSA under license No. SD024.

SquaredFinancial officers Standard and VIP accounts to meet the needs of different traders. Let’s discuss them in more detail to shed some light on what they have to offer and see which one might be best suited for you. 

SquaredPro account

This account type is a standard type of account and is aimed at novice traders and traders that trade less often. The minimum initial deposit required to open the account is 100 USD. Both MetaTrader 4 and MetaTrader 5 accounts are available. Maximum available leverage is 500:1. The broker integrates trading fees in spreads and spreads on EUR/USD starting from 1.1 pips. 

SquaredElite account

The minimum initial deposit required to open this account type is 5,000 USD. There are no spread markups on this account type, which is why intraday traders prefer it. On the other hand, traders are charged 5 USD per traded lot commission. Similarly to the Pro account, the maximum available leverage is 500:1, and both MetaTrader platforms are available. 

Trading fees with this broker are fairly average. In addition, there are inactivity fees of 5 USD per month after 3 months of inactivity. On the upside, there are no fees on deposits and withdrawals from the broker’s end. 

Comparing SquaredFinancial fees with other brokers

Let’s compare the trading fees of SquaredFinancial to other brokers to get a clearer picture of the fee policies. 

SquaredFinancial fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

SquaredFinancial fees compared to CM Trading fees

SquaredFinancial fees compared to plus500 fees

SquaredFinancial fees compared to XM fees

SquaredFinancial fees compared to AvaTrade fees

SquaredFinancial fees compared to Capital.com fees

SquaredFinancial offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are very popular and have been around for a long time. It should be mentioned that MT4 was created for trading FX pairs, whereas MT5 is a multi-asset platform. Both platforms support algorithmic trading using Expert Advisors (EAs). 

The broker provides traders with a mobile version of the MetaTrader software and a web trading platform. The mobile app enables traders to view live charts and keep track of active orders. 

The broker offers learning material for beginner traders under the following tabs:

• Educational Articles
• Market Insights
• Trading Guides
• Trading FAQs

However, it should be mentioned that seminars, webinars, and one-on-one training options are missing. 

SquaredFinancial provides its clients with professional customer support. Customer support is available in multiple languages. Traders can contact the broker via live chat, which is accessible through the main page, using email, or over the phone. 

To sum everything up, SquaredFinancial is regulated in Cyprus and in Seychelles and therefore can be trusted. There are SquaredPro and SquaredElite account types for spread-free and commission-free trading. The maximum available leverage is 500:1. The available trading platforms are MetaTrader 5 and MetaTrader 4. Available instruments are CFDs on stocks, cryptocurrencies, energies, Forex, futures, indices, and metals. There are more than 10,000 tradable instruments available on the MetaTrader platform.