ProbusFX Review
SquaredFinancial: What are you talking about?
SquaredFinancial, formerly SquaredDirect, is now SquaredFinancial. ProbusFXis a Cyprus-based financial investment firm. (Read more about TriumphFX in Cyprus by link). They offer trading solutions with the best support and education. SquareDirect provides access to trade FX and Precious Metals as well as CFDs on Energies.
The broker also chooses its mainstay and main approach in a technology driven trading process with No Dealing Desk Intervention. Institutional grade liquidity offers ultra-fast spread pricing, low latency, and market execution.
Broker: SquaredDirect | SquaredFinancial
Minimum deposit: 0 US$
Leverage: 1:30
Regulator: CySEC. FSA
Year: 2016
Platforms: MT4, MT5
HQ: Cyprus
SquaredDirect Licenses:
Squared Financial (CY) Ltd - Authorized by CySEC, (Cyprus) registration number. 329/17
Squared Financial Ltd - authorized by FSA (Seychelles) registration no. SD024
Overview
SquaredFinancial, a trusted broker that uses powerful technology and a trading platform, offers varying pricing models and spreads. Good customer service and education.
Negative points: There is no 24/7 support and the broker has changed the name multiple times.
Pros
Well-regulated
MT4 & MT5 available
Competitive spreads
Pure STP broker
Cons
Limited payment methods
Relatively new broker, no client feedback yet
Rating of the company overall
Reliability ⭐⭐⭐
Platform ⭐⭐
Commissions ⭐⭐⭐
Support ⭐⭐⭐
Financial instruments ⭐⭐⭐
RATING: 2.9
SquaredDirect is it safe?
SquaredDirect isn't a scam. It is a trading name and its predecessor ProbusFX and SquaredFinancial are owned and operated By Aspide Financial Limited, which is located in Cyprus and is subject to the laws of Cyprus. The local authority CySEC has authorized the company to be fully registered. Because the company is part of the EU and its nature, CySEC-registered companies provide high-level investment services. They do so in strict compliance with the rules and cross-registration to the EEA.
SquaredDirect is required to provide client safety and fair treatment. Therefore, it provides dedicated support to all investors with unmatched safety with money handling security procedures.
This covers money segregation which means that the company cannot touch client funds. It also includes participation in the schemes in the event of insolvency. The broker also applied for the Negative Balance Protection, which protects trading accounts from losses exceeding the initial balance.
Leverage
SquaredDirect broker established the safe levels according to the regulations and imposed of authorized operation.
The European CySEC allows Forex retail accounts to enjoy a maximum 1:30 leverage and lower levels towards other instruments. Professional traders can apply for higher levels.
Leverage offers the possibility of significant multiplication of trading sizes. However, it can also pose higher risk of losing money. Smart use of a tool is required.
Types of accounts
SquaredFinancials provides three account types SquaredPro and Specs that are tailored to traders' experience and needs.
Beginning traders can sign up for a risk free Demo account and then transfer it to the live account. SquaredDirect welcomes traders from the Muslim faith. However, they can choose any type of account with a Swap-free option.
Fees
SquaredDirect pricing and fees depend on which account type you choose. They can be spread or commission based. Please see the table of additional fees below.
Spreads
SquaredDirect Spread Breakdownfor a Classic Account, the costs will depend on the chosen account. The trading costs would be included in the low-tight spread offer with an average EUR/USD 1.1 pip or represent a lower spread provided interbank with a commission for each trade
The Standard Account is the most popular account type. It offers balanced trading with a minimum deposit of 500$ and spreads starting at 0.0 pip with a commission of 4.5$ for every 100k traded.
Swaps
SquaredDirect Overnight Fee or overnight funding are other costs you should consider. The overnight fee applies to long positions. For example, a long EUR/USD position costs -12.5 to buy and 5.5 to sell.
You can compare SquaredDirect fees with another popular broker BDSwiss.
Withdrawals and deposits
SquaredDirect clients can make simple deposits and withdrawals. These transactions are made with security and convenience through their client area.
There are many deposit options available, including bank wire, most credit cards and e-payments. Another bonus is a no fee or commissions on deposits or withdrawals .
Minimum Deposit
SquaredFinancialoffers two types of accounts: SquaredProand SquaredElit. SquaredPro does not require a minimum deposit to begin trading. SquaredElite requires a $5,000 initial deposit.
SquaredFinancialminimum deposit vs other brokers
Withdrawals
SquaredFinancial offers a variety of withdrawal options, including cards, bank wires, and e-wallets.
Trade Platforms
MetaTrader4 is a leading trading platform, and is also a keystay of SquaredDirect. It has simple to use interface, powerful charts and the ability to create custom layouts or templates to enhance your workspace. This software has gained trust from millions of traders.
It is a great platform to trade SquaredDirect approved trading instruments. The platform also offers backtesting, historical information, analysis tools, and historical data.
The MT4 is also known for its powerful and automated functions with the option to use Expert Advisors or create one using MQL4 language. MetaTrader Signals Service allows customers to keep up-to date without the need for constant personal viewing.
Mobile app
The company also included a mobile edition that can be used on any deviceAndroid and iOS. The broker's offering is enhanced by the use of back-office reporting, statements and further planning via adjustments to existing strategies.
Education
SquaredDirect provides high-level customer support along with prepared education materials. Anyone who signs up with SquaredDirect can pass the education. The market data and knowledge will help clients to succeed.
Traders can also count on professional support from the market analysis and daily pivot points, Live Market News streaming direct to the platform, along with the Economical Calendars.
Conclusion
SquaredFinancial's review concluded that a Cyprus company, which is strictly regulated, acts as an intermediary between traders and liquidity providers. The company seems attractive as it provides traders with direct access to global markets and allows them to experience trading using the best education and trading technology. The broker does change its trading names frequently, which can be a problem.
SquaredFinancial Updates
SquaredFinancial's website is still inactive. It is not possible to reach it. This means that SquaredFinancial has ceased offering trading services and doesn't offer account openings. If you receive an offer about trading, we recommend that you do your own research. To attract clients, scam brokers frequently use ex-names from regulated brokers.