Squared Financial (CY) Ltd formally began a voluntary, structured wind-down and surrender of its CySEC licence (329/17) in 2025 -- including a stop to onboarding new clients -- after CySEC had previously fined the firm EUR35,000 over CFD marketing practices to retail clients, and after reports of frozen partner funds.
| Regulated entity | Squared Financial (CY) Ltd |
|---|---|
| Regulation | CySEC No. 329/17 + FSA Seychelles No. SD024 |
| Other Tier-1 regulators | None confirmed |
| Founded | 2005 |
| Headquarters | Nicosia/Limassol, Cyprus |
| Minimum deposit | $0 (SquaredPro); $500-$5,000 (Elite account, figures vary by source) |
| Avg. spread (EUR/USD) | 1.2 pips |
| Platforms | MT4, MT5 |
| Instruments | 2,000+ CFDs across forex, indices, shares, ETFs and commodities. |
See SquaredFinancial's full regulation dossier → · How to check whether a forex broker is regulated
Derived from the same confirmed data behind this broker's score (regulation, cost, platforms, deposit minimum) -- not a separate editorial judgment.
Via its CySEC-regulated Cyprus entity, eligible clients are covered by Cyprus's Investor Compensation Fund (ICF) up to €20,000 per person if the firm fails. Via its Seychelles FSA-licensed entity, there is no statutory investor compensation scheme -- if that entity fails, there is no guaranteed fund to recover client money from.
Beyond the headline spread and minimum deposit above. Where our research hasn't independently confirmed a specific detail, we say so rather than guess -- verify directly with the broker before relying on it.
| Account types | SquaredPro (no minimum deposit, $0 commission) and SquaredElite (minimum $5,000, $5/lot commission), both using market execution, with a SwapFree Islamic variant available on the SF MT4 platform. |
|---|---|
| Execution model | Market execution on both tiers; sources didn't specify ECN vs. STP vs. market-maker terminology beyond that general description. |
| Withdrawals & deposits | Methods include bank card, bank wire, BTC, Neteller, Skrill and USDT. No deposit fee; normal withdrawals are free aside from third-party costs. Minimum withdrawal $5, processing from 15 minutes up to 3 business days. Minimum deposit reported around $250 as of mid-2026, post-restructuring -- worth reconfirming given the firm's ongoing licence wind-down (see regulatory note above). |
| Overnight financing (swap) | The SwapFree account removes interest on positions held over 24 hours; standard accounts reportedly apply a handling charge specifically for exotic pairs held more than 3 consecutive nights -- an unusually specific policy worth confirming against the current fee schedule given the firm's 2025 restructuring. |
| Currency conversion cost | Not found as a specific percentage; base currencies offered are USD, EUR, GBP and BTC. |
| Inactivity fee | Reported inconsistently: one source lists no inactivity fee, while another cites a 2% withdrawal fee specifically triggered when no trading has occurred -- these may describe the same underlying mechanism differently; treat the 2% dormant-withdrawal charge as the more likely operative fact. |
| Customer service | Trustpilot shows a TrustScore of 3.8/5 from 651 reviews -- notable given this coexists with the licence wind-down and fund-freeze events described above; several reviews specifically allege disabled MT4 accounts and inability to withdraw, with at least one describing the operation as lacking clarity on where client funds are held. |
| Mobile experience | An app relaunch/enhancement was announced via company press releases, but no independent app-store star rating was found. |
| Educational offering | Some reviewers praise a free "Trading Academy," though this isn't independently corroborated by a neutral reviewer site. |
See how SquaredFinancial's spread cost compares across every researched broker → · Forex broker fees explained
Is SquaredFinancial regulated?
Yes -- CySEC No. 329/17 + FSA Seychelles No. SD024. See the regulation dossier on this page for the underlying licence numbers.
Is my money protected if SquaredFinancial fails?
Via its CySEC-regulated Cyprus entity, eligible clients are covered by Cyprus's Investor Compensation Fund (ICF) up to €20,000 per person if the firm fails. Via its Seychelles FSA-licensed entity, there is no statutory investor compensation scheme -- if that entity fails, there is no guaranteed fund to recover client money from.
What is the minimum deposit at SquaredFinancial?
Our research confirms a minimum deposit of $0 (SquaredPro); $500-$5,000 (Elite account, figures vary by source).
What trading platforms does SquaredFinancial offer?
SquaredFinancial offers MT4, MT5.
What is SquaredFinancial's average spread on EUR/USD?
Our research confirms an average EUR/USD spread of 1.2 pips. See our cost calculator to compare this across every broker we've reviewed.
When was SquaredFinancial founded?
SquaredFinancial was founded in 2005.
How is SquaredFinancial's overall score calculated?
SquaredFinancial currently scores 3.02/5 overall under our disclosed nine-category methodology -- regulation & client protection 30%, trading costs 20%, non-trading fees 10%, platforms & tools 10%, execution/trading conditions 10%, product range 5%, deposits/withdrawals 5%, transparency 5%, track record 5%. It is not a comparison to other brokers and not based on hands-on testing.
A dated log of when our own published data about this broker actually changed -- not a reconstructed history of what the broker itself did. See the full change log tool for every broker.
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