SquaredFinancial.com Review

After 8 months of trading they deleted my profits arguing abusive trading which is not correct that I explained in an email. Why they wait 8 months to say they dont like my trading style? what would have happened if I lost? Would they have reimbursed me the loses? I contacted the CEO Philippe Ghanem and Compliance and both have not answered my questions. Complaince answers are just cutting and pasting the T&C in their replies that by the way are totally abusive on their side. Also the regulation in Seychelles is not a protecion for clients. This broker is another market maker trying to deal with bad traders so they can make money as they are the counterparty of your trades. I would recommend other brokers instead of Squared that honour your profits even if their regulation is not the best as FCA.

Hi everyone. I'm new to the forum and unfortunately I ended up here due to an unpleasant situation with a broker.

I opened account my account on July 2023 by funding the initial amount of €4000 and carried out trading operations constantly for 10 months, accumulating a profit resulting from normal trading operations based on macroeconomic news. Without any warning, on Friday 17 May 2024 my account was no longer enabled for trading and I received an email from Squared Financial informing me of the cancellation of all trades carried out since the opening of the account and therefore the removal of all profits with the simultaneous closure of my profile on their website with the consequent impossibility of downloading the complete account statement of all operations.

In 10 months my capital grew up to 8691,17€ unti 4691,17€ arbitrarily deducted from my account without warning, without reports of unwelcome trading for almost a year and then suddenly this nasty surprise. I therefore consider this operation fraudulent and voluntarily harmful to my capital. I was allowed to carry out all operations without any reports or complaints for almost a year, accumulating that significant profit which was removed from my account at the same time as the first withdrawal request.

I would like to point out that I have carried out the same trading operations in the same way and with the same results on many other brokers without the slightest problem and with the profits regularly withdrawn. No arbitrage trading! Reading the horrible reviews about Squared Financial on TrustPilot I realized that I was not the only one in this unpleasant situation and I came to think that I was the victim of a fraudulent operation.

I tried to make a written complaint to the broker who rejected the request and refused to pay any profits made. The question arises spontaneously: who pocketed my almost 5K in profit? For this reason, for the first time I'm going to request the intervention of the FSA authority to recover the unduly stolen capital.

In the meantime my advice to everyone is not to operate with this broker or to withdraw all funds deposited with it as soon as possible.

After indicativelly 1 year of trading (without any problem or any communication from the broker) i've asked a full WD (deposit 10k euro - profit 12,232.37 euro).

After indicativelly 10 days without any update I received an email informing me that the account has been closed for abusive trading, the profits have been revoked and that only the deposit has been refunded. The big problem is that everything can be justified behind the term ''abusive trading'', that is, after a year without problems, without communications they decided to remove my profits with a very generic reason... the reality is that with this company if you don't make profits (or you lose) everything is fine, but when profits are made they are canceled with the reason ''abusive trading'', not after a day, not after a week or a month, but in my case after almost a year and perhaps if I hadn't asked for withdrawal I would have been able to continue for a long time.
just to clarify my trading style is NOT LATENCY ARBITRAGE

Experience was good, low spread.. Support very fast, and also deposits and withdrawals