SquaredDirect is a relatively new brokerage that has ventured into the world of cryptocurrency trading. While its asset selection may not be as extensive as some other brokers, it does offer a diverse range of trading options. Currently, SquaredDirect provides access to four primary asset categories: Forex, Energy assets, Precious metals, and Indexes. Additionally, it offers cryptocurrency trading, making it a noteworthy option for traders looking to diversify their portfolios. Let’s delve deeper into the features and offerings of SquaredDirect in this comprehensive review.
One of the most enticing aspects of online trading is the ability to utilize leverage, allowing traders to control larger positions with a relatively small capital investment. However, it’s important to note that leverage comes with significant risks and may not be suitable for all traders. SquaredDirect adheres to the regulations set by ESMA and adjusts its leverage offerings accordingly to ensure responsible trading practices.
As a relatively lesser-known broker, SquaredDirect might not have garnered extensive public reviews yet, but it does bring a range of competitive trading opportunities and various account types to the table. Additionally, the broker places a strong emphasis on education and research, offering a wealth of resources to empower traders. Another noteworthy feature is its CySEC license, though its implications for traders are yet to be fully determined.
SquaredFinancial operates under the umbrella of Squared Financial Group, which comprises three subsets: SquaredFinTech (for the platform), SquaredResearch (for back-office support), and SquaredDirect (for DMA/STP trading). Founded by the same individuals who launched ProbusFX, SquaredDirect is a newcomer in the brokerage industry but boasts a CySEC license, favorable trading conditions, and a commitment to transparency.
Account Types and Deposits
SquaredDirect offers three distinct account types, each with its own minimum deposit requirement and commission rate. Furthermore, it provides a mobile version of its trading platform and comprehensive back-office reporting capabilities. Depositing and withdrawing funds is a hassle-free and secure process, with options available for credit card, e-wallet, and bank wire transactions.
User-Friendly Website and Educational Resources
The SquaredDirect website is not only aesthetically appealing but also well-structured and easy to navigate. Moreover, it offers a diverse selection of educational and research tools to assist traders in making informed decisions. The broker’s commitment to adhering to strict regulations ensures a safe and secure trading environment for its clients. Additionally, SquaredDirect is a member of the Investor Compensation Fund (ICF) policy, which provides protection to eligible retail clients. The broker also boasts a robust customer support system, offering assistance through its dedicated and knowledgeable team.
Competitive Trading Fees
One of SquaredFinancial’s standout features is its low share trading commission structure, which can significantly benefit traders. However, there is room for improvement in terms of lowering the price per share. On a positive note, the broker does not impose deposit, withdrawal, or inactivity fees. While SquaredDirect primarily focuses on stock trading, it also offers CFDs on major indices and popular currency pairs like EUR/USD.
Leverage and Trading Platforms
SquaredDirect’s trading platform offers leverage for retail customers, with leverage ratios available up to 1:30. It’s crucial to bear in mind that higher leverage levels come with increased risk. The broker provides different account types tailored to various financial circumstances and trading styles. For beginners, the Gold account is an excellent choice, featuring low spreads and time-saving functionalities ideal for those new to trading.
The broker also offers MetaTrader 4, a widely trusted and user-friendly trading platform that has earned the confidence of millions of traders worldwide. MetaTrader 4 boasts a seamless interface, powerful charting capabilities, and supports backtesting and analytical tools. Additionally, it facilitates the use of E-Wallets for deposit and withdrawal transactions.
Safety and Regulation
Safety is paramount when selecting a broker, and SquaredDirect is no exception. The company is a legitimate foreign exchange entity headquartered in Limassol, Cyprus. It operates under the ownership of SquaredFinancial (CY) Limited, with its inception dating back to 2017. Over the years, it has established itself as a reputable brokerage firm, offering a competitive trading environment and dedicated customer service. Furthermore, SquaredDirect offers various types of foreign exchange accounts, allowing clients to hold different currencies.
SquaredDirect places a strong emphasis on adhering to strict standards for customer safety and the protection of client funds. Its membership in the Investor Compensation Fund (ICF) Policy is reassuring, as it contributes to the financial stability of retail investors. Clients can rely on quality customer support provided by a dynamic team of professionals.
In summary, SquaredDirect is a promising player in the brokerage industry, offering a range of trading products and services to cater to various trading needs. With a CySEC license and a commitment to transparency, the company has made significant strides since its establishment in 2017. The user-friendly MetaTrader 4 platform, competitive trading fees, and strong emphasis on safety and regulation make SquaredDirect a viable choice for traders looking to access a diverse range of assets and take advantage of attractive leverage opportunities. However, it’s essential for traders to carefully assess their needs and risk tolerance before choosing the most suitable account type and leverage level with SquaredDirect.