Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


SquaredDirect is a Cyprus forex and CFD broker that recently changed its brand name from ProbusFX. SquaredDirect is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is offering a variety of currency pairs with a choice of three account types and the MetaTrader4 platform.

Among the forex pairs, well over 40, we came across a selection of exotic currencies including South African Rand, Singapore Dollar, Turkish Lira, Swedish Krona, Norwegian Krone, Polish Zloty, Mexican Peso, Hungarian Forint, Hong Kong Dollar and Chinese Yuan. Other assets include CFDs on precious metals like silver and gold, oil and several European and US indices.

Here you may find some details about the trading conditions:

SquaredDirect trading conditions

As we mentioned, SquaredDirect offers three account types Classic, Standard and Premium Account, where spreads are advertised to start from 1,1 pips for the Classic Account and from 0,1 pips with the two premium accounts.

With the Standard and the Premium Accounts, however, you have a trading commission of 4,5 EUR and 1,8 EUR respectively for every standard lot traded and basically that adds 0.5 pips to the Standard Account actual spread and 0.2 pips to the Premium account actual spread.

The calculation is done for a standard lot of 100 000 base currency units and with the presumption that the second currency of your pair is USD.

Besides spreads staring below 1,5 pis with a standard account are generally considered good.

As for the leverage SquaredDirect offers a default leverage of up to 1:30, which is in line with the new European Securities and Markets Authority (ESMA) regulations, which came in to force in early August, capping the leverage with all forex transactions at 1:30 and 1:20 with all other CFD trades.

Also, have in mind that the new ESMA regulations allow for a higher leverage, if you can prove that you are a professional trader. In that case with SquaredDirect you can enjoy leverage as high as 1:200.

SquaredDirect trading platforms

The broker offers one of the most reliable and widely used trading platforms – the MetaTrader4. МТ4 is preferred by beginner and professional traders alike. It features a great number of customizable market indicators and trading robots, with the help of which you can easily run automated trading sessions to better fit your trading strategy. And besides the charting package is also excellent.

SquaredDirect regulation & safety of funds

SquaredDirect, formerly known as ProbusFX, is owned and operated by Squared Financial (CY) Limited, a company based in Cyprus and regulated by the local Cyprus Securities and Exchange Commission (CySEC) – one of the most reliable financial authorities not only in Europe, but on a global level as well.

Proper regulation has always been the single most important factor for the security of any investment on the retail forex market. So the fact that SquaredDirect is regulated by CySEC means that the broker is completely reliable, not the least due to the fact that up 20 000 EUR of your trading capital will be insured with the CySEC backed Investor Compensation Fund.

This means that in the unlikely case your CySEC broker happens to be insolvent, you will be compensated with up to 20 000 EUR.

Appart form this CyCEC brokers are required to keep all traders funds in a segregated, protected form creditors account, to maintain a minimum operational capital of at least 730 000 EUR, to provide a negative balance protection to their customers, to refrain from offering trading bonuses, to file regular reports and to allow external audits.

Besides, all those requirements are common with all other regulators in EU like for example the Financial Conduct Authority (FCA) in the UK, which also guarantees up to 50 000 GBP of the trading capital with licensed brokers.

SquaredDirect deposit/withdrawal methods and fees

SquaredDirect accepts payments solely with VISA and MasterCard as well as bank wire, which is fine but not that convenient as most brokers accept payments with popular e-wallets like Neteller and Skrill as well.

The minimum deposit requirement to open a Classic Account with the broker is 200 EUR, which is in line with what most brokers would ask for as a minimum investment. For the Standard and the Premium Accounts, however, the minimum deposit requirement is higher – 500 EUR and 10 000 EUR respectively.

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