SquaredDirect Review 2019 | Is SquaredDirect a Scam or Legit Forex Broker?

Read our SquaredDirect review to find out if SquaredDirect is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.3/ 5

Rating breakdown

Protection & Regulations
60% Complete (danger)
3.0/5
Trading platforms
80% Complete (danger)
4.0/5
Tradable Products
80% Complete (danger)
4.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
60% Complete (danger)
3.0/5
SquaredDirect
SquaredDirect Overview

SquaredDirect is a True DMA/STP Brokerage Firm acting strictly as an intermediary between clients and top-tier Liquidity Providers such as Internationally reputable banks and other globally acclaimed financial institutions providing investment services and solutions to retail clients.

# Broker's Features SQUAREDDIRECT Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review SquaredDirect.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. SquaredDirect offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices.

Tradable Products: There is a big list of financial products that can be traded on SquaredDirect

Broker Type: Many types of brokers can be found in the most dynamic market in the world. SquaredDirect is ECN.

Features: SquaredDirect MT4 offers the use of EAs, custom indicators, and connectivity to the MQL Marketplace

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. SquaredDirect recommended minimum capital is $200.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. SquaredDirect is regulated by CySEC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor Protection & Regulations: SquaredDirect is a licensed by CySEC, which means it is safe to trade. Yet, SquaredDirect’s record with the regulator is purely white with no legal issues.

Account currencies: Next lets consider the Account currencies each broker offers. SquaredDirect offers EUR, USD different account currencies for each account types.

Account Openning: Forex broker SquaredDirect provides three types of accounts for its clients: classic account, standard account, and premium account.

SquaredDirect offers a demo account for practicing trading skills and get familiar with the broker’s trading platform.

Languages Available: Next lets have a look at each broker's different Language options. SquaredDirect offers English.

Payment methods: Next lets have a look at each broker's payment options. SquaredDirect offers Credit cards, Debit cards, Neteller, Skrill, Wire transfer different payment methods for each account types.

Deposit and withdrawal: Deposit and withdraw funds using card methods, bank wires and e-wallets

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, SquaredDirect makes MetaTrader 4 available to clients.

Web & Desktop Trading Platforms: Trade FX and CFDs using the SquaredDirect MT4, downloadable from the MQL Community website.
Mobile Trading Platforms: There is the mobile app for iOS and Google Play devices, as well as the web trader which is optimized for mobile.

Other

Trader Education
SquaredDirect offers an educational suite for its traders, featuring video tutorials and trading guides. Rudimentary research tools provided for Standard and Premium account holders

Promotions
SquaredDirect don’t offer bonuses or promotions due to CySEC restrictions

Support
A variety of ways to get in touch with support representatives

Recup
SquaredDirect (formerly ProbusFX) is a MT4 forex and CFD broker whose trading conditions are quite good: competitive spreads, solid leverage levels, and reasonable initial deposit required. On top of that, SquaredDirect is licensed by the Cyprus Securities and Exchange Commission (CySEC)

Final Thoughts
Working with a regulated brand comes with its own advantages. Regulation by CySEC specifically offers certain benefits such as enrolment in the Investor Compensation Fund, where clients deposits are protected up to 20,000 euros. The fact that only the MT4 platform is offered for trading may be a drawback. Several established brokers operating in Europe have multiple trading platforms to appeal to all categories of traders.

Trading Experience
SquaredDirect’s MT4 offers a solid trading experience for all levels of traders

People Also Asked

Is SquaredDirect regulated?
Yes, SquaredDirect is regulated by top-tier regulators, CySEC inclusive.
Where is SquaredDirect based?
SquaredDirect is based in N/A
How does SquaredDirect make money?
SquaredDirect charges a spread between the bid price and ask price. In some instances it also charges a commission.
How do I deposit in SquaredDirect account?
With SquaredDirect you can deposit money via the following means; Credit Card, Neteller, Skrill, Wire Transfer.
How do I withdrawal in SquaredDirect account?
SquaredDirect lets you request a withdrawal of funds from your account via the following means; Credit Card, Neteller, Skrill, Wire Transfer.
What is the minimum deposit for SquaredDirect?
SquaredDirect has $200 minimum deposit.
What are the available account base currencies with SquaredDirect?
SquaredDirect trading accounts are offered in EUR, USD. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in SquaredDirect?
SquaredDirect has a maximum leverage is 1:200 for professional traders.
How do I open an account with SquaredDirect?
Opening an account with SquaredDirect is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does SquaredDirect use MetaTrader?
SquaredDirect platforms: Yes, SquaredDirect use MetaTrader as well as the following platforms: MetaTrader 4
What type of broker is SquaredDirect?
SquaredDirect appears to be a ECN broker which offers market access to a variety of traders.
Does SquaredDirect accept US clients?
No
Does SquaredDirect offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with SquaredDirect: You can trade a wide variety of instruments with SquaredDirect: Currencies, Commodities, Indices