SquaredDirect is a Forex and CFD Broker that features on its trading platform currency pairs as well as precious metals and CFDs on Energies and Indices. SquaredDirect is regulated and overseen in Cyprus by the CySEC. The broker charges on a popular currency pair EUR/USD a minimum spread of 1.2 pips*. Trading with real funds is possible with a minimum deposit of $100 (or equivalent in other currency). The SquaredDirect website is available in English only.
What do we cover in our SquaredDirect Review?
|General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.|
Basic information about the broker
- Website address: www.SquaredDirect.com
- Instruments: Forex, Precious Metals, CFDs on Energies, CFDs on Indices
- Minimum deposit: $100 (base account currency USD/EUR)
- Demo account: Yes
- Methods of deposit and withdrawal: Wire Transfer, Skrill, Neteller, Credit and debit cards (Visa/MasterCard/Maestro/UnionPay/AliPay)
SquaredDirect Trading Platform
For FX and CFD trading, SquaredDirect offers MT4 and MT5. These two trading platforms are very popular amongs Forex and CFD traders. They can be both used not only for executing trades but also for analyzing financial markets and automated trading. MT4 as well as MT5 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. The broker gives access to over 60 trading instruments.
SquaredDirect Fees (spreads)
As any other CFD broker, SquaredDirect charges a spread fee. For the most current spread charges, please visit the SquaredDirect official website. Here is a spread comparison table that contrasts SquaredDirect spreads with popular industry competitors.
*Minimum Spreads recorded on 08.01.2020 at 19:54 GMT for the gold account (basic account). Data about spreads were taken either from the website of the broker. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.
SquaredDirect is authorized and regulated under the Cyprus Securities and Exchange Commission under license number 329/17.
The CySEC regulation gives SquaredDirect the right to provide cross-border services to other members of the European Economic Area.
Advantages and disadvantages
Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce SquaredDirect.
- MT4 and MT5
- Hedging and Scalping supported
- No CFDs on shares and cryptocurrencies
To sum up the SquaredDirect Review
SquaredDirect adheres to strict regulatory guidelines of the CySEC. The broker offers decent spreads and features a free demo account for practice trading. The amount of available CFDs is, however, quite poor. There are not even CFDs on shares or cryptocurrencies.
Your review can make a difference to other traders, please leave a comment if you have any personal experience with SquaredDirect.
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