FAQ

Frequently Asked Questions

I cannot install the MT4 platform

If you are having difficulties installing the MT4 platform, please contact our support team on live chat, send us an email at support@SquaredDirect.com or request a call back. For more information on how to contact us visit out Help Centre.
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What is the Squared Lounge?

The SquaredDirect Client Lounge is a user-friendly interface from which you can manage your personal information, trading information and financial information.
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I haven’t received an email to verify my email address.

Please check your spam/ junk folder. If you still haven’t received an email please contact us via email at support@squareddirect.com
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Do you charge any fees for withdrawals?

SquaredDirect does not charge any commission for withdrawing funds via bank transfer.
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How can I withdraw funds from my account?

You can withdraw funds any time you wish from your SquaredDirect Lounge. To request a withdrawal, simply log in to the SquaredDirect Lounge, navigate to the Banking section and select 'Withdraw' and fill in the form
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Can I add a custom Indicator?

Yes, at SquaredDirect you are able to add your own custom indicators to the platform.
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How old do I need to be in order to open an account and start trading?

You must provide valid ID documentation that proves that you are over the age of 18 in order to open an account and start trading.
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How can I update my address?

If you wish to update your residential address, please send your request to backoffice@SquaredDirect.com along with a supporting document issued within the last six (6) months which states the updated residential address and your full name.
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What types of accounts are available?

SquaredDirect offers 3 types of accounts based on your trading experience: Classic, Standard and Premium. Click here to view the Account Comparison Chart.
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I have made a deposit via Bank Wire but I don’t see the funds on my account yet. Why?

Please note that Bank Wire transfers normally take up to 3-5 working days to be processed. If funds do not appear in your account after this period of time, please request more details from your bank.
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What is the minimum amount of deposit?

There is a minimum deposit depending on the account type you have chosen:
  • The minimum deposit for a Classic account is 200 EUR/USD
  • The minimum deposit for a Standard account is 500 EUR/USD
  • The minimum deposit for a Premium account is 10,000 EUR/USD
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Are my funds held in segregated accounts?

We have selected High Credit Rating European Banks for holding our client’s funds in segregated accounts.
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What is ‘FATCA’?

The Foreign Account Tax Compliance Act (FATCA) intends to prevent the avoidance of US tax by American citizens who hide money outside the United States. The main objective of FATCA is to strengthen information, reports and compliance, through providing rules around the processes of documenting, reporting and withholding on a payee.
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How long does it take for my account to be approved?

Depending on the documentation submitted and if it’s all valid, your account will be verified (within 2 working days) by our Back-Office Department. Once your account has been verified and approved you will be able to deposit and start trading.
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What if my proof of address contains only a P.O Box?

We do not accept P.O. Box addresses as proof of address. The proof of residence is required to display a physical address. Alternatively, you can provide us with a notarised statement of address which states your physical address.
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Where are the SquaredDirect Trading servers located?

SquaredDirect MT4 servers are located in LD4 IBX Equinix Data Centres in London, providing clients with the fastest possible execution speeds.
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What methods can I use to deposit funds to my account?

Bank Wire Transfer and Cards (via Safecharge). For more information please refer to our Payment Methods Page.
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Are you a member of the Investor Compensation Fund?

As a regulated investment firm, SquaredDirect is a member of the Investor Compensation Fund (ICF) that secures the privileges of all retail clients if the firm is not able to return directly or indirectly held client funds. These funds protect all clients in the event that the firm is unable to fulfil its obligations in case of insolvency.
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Can I trade if I do not take the assessment?

The Appropriateness Assessment is mandatory if you wish to become a SquaredDirect client and start trading.
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I have made a deposit by mistake. Can I cancel it and receive my funds back?

You can request a withdrawal immediately from the SquaredDirect Lounge.
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If I fail the assessment test, can I retake it?

Yes, you can retake the assessment two weeks after the last time you took it.
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Can I close my account?

Yes, in order to close your account, you need to send an email request to support@squareddirect.com
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What happens with my documentation if I close my SquaredDirect Account?

Your documentation is securely kept on record for 5 years after closing your trading account. This is in line with regulatory obligations.
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Can I withdraw funds using a different payment method than the one I used to deposit?

Withdrawals from your trading account are made to the same wallet in the same payment system that was used to make a deposit in your trading account. The only exception is when you wish to withdraw profits realised, in which case the funds may be possible to be withdrawn using a bank transfer only due to your bank’s or credit card limitation.
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Why should I open an account with SquaredDirect?

SquaredDirect is a Brokerage Firm that focuses on Traders. Opening an account with SquaredDirect gives you the opportunity to learn and experience trading with the right support and education while trading CFDs on FX, Precious Metals, Energies and Indices
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Can I withdraw to a different account than the one I used to deposit?

Please note that all withdrawals should go back to the same account as the one you used to deposit. In case you closed your bank account and want to withdraw to a new account, you need to provide us with: a) official documentation from your bank indicating that your account has been closed and b) a new bank statement showing your full name, IBAN number and new account in which you want to withdraw. If it is a brand new account and there is no bank statement available yet, you are required to provide an official document from the bank stating your bank account details.
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Why do I need to provide my documentation to SquaredDirect?

In accordance with our legal and regulatory obligations, SquaredDirect is required to verify your identity and may request documentation in order to fulfil a due diligence procedure.
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How do I start trading?

If you have already registered and opened an account, received your login details by email, provided your documentation and have a verified account the next step is to make a deposit and download the trading platform.
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If I need assistance during the weekend, what shall I do?

You can email support@SquaredDirect.com and a representative will call you during the next working day.
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Can I trade with SquaredDirect if I’m not using my main computer?

Yes, you can trade with SquaredDirect on any computer you own.
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Which account type is right for me?

SquaredDirect gives you the flexibility to choose from 3 account types with outstanding trading conditions, covering the needs of all types of traders. To view more information regarding our accounts please visit the Account Types section on our website.
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What is the leverage provided for Professional Clients?

Professional clients may select a leverage of up to 1:200.
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How will I know if the documents I provided are sufficient?

We will review all documents provided and will notify you if any documents are unreadable, unsuitable or missing.
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How can I access the Squared Lounge?

To access the Squared Lounge all you have to do is login to your account on the website and you will be automatically directed to the Lounge.
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Can I switch from a Demo to a Live account?

Yes. After passing the appropriateness test you are able to switch from a Demo to a Live account.
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Can I use expert advisors?

Yes, expert advisor use is allowed.
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What is the appropriateness test?

The Appropriateness Assessment is a short questionnaire which determines, among other things, if the Company’s services and products are appropriate for you, based on your level of knowledge and experience in trading.
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How long is a Demo Account active for?

A demo account remains active for timetime /unlimited.
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What methods can I use to withdraw funds from my account?

Bank Wire and Card. For more information please refer to our Payment Methods Page.
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What happens to my positions at the end of the trading day?

Pairs can be traded for as long as three months, while indices expire in accordance with the date specified in the underlying contract. To learn more, please visit our Trading section.
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How do I add a custom Indicator?

To add a custom indicator you must:
  • Locate and copy the MT4 custom indicator file on your computer that you would have downloaded.
  • Click on the ‘Open Data Folder’ on the MT4 under the ‘File’ tab.
  • Open the ‘MQL4’ Folder
  • Open the ‘Indicator’ Folder
  • Paste the Custom Indicator in here
  • Restart your MT4
  • Look for your custom indicator under ‘Insert’ then ‘Indicators’ then it should be inside the ‘custom’ tab.
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Does SquaredDirect use margin calls?

Yes, you will be notified by email when your equity reaches the 50% of your used margin
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What fees and commissions does SquaredDirect charge?

Depending on the account type you have chosen, there different commissions and charges.
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What is the MetaTrader 4 Platform?

MetaTrader 4 is a trading platform that is developed by MetaQuotes. It is widely used by online Forex traders and brokers. Metatrader 4 is primarily used for online trading, to view live streaming prices and to monitor charts. For more details on MT4 platforms, please click here.
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How do I download the MT4 platform?

Once you verify your email address, we are going to email you your Platform Details along with a link to download the terminal.
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Where can I find the live prices?

You can find our Live Prices located under Market Analysis on our website.
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I wish to cancel my withdrawal request, what shall I do?

If you would like to cancel a withdrawal request please contact us via Live Chat or email us at support@SquaredDirect.com
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Why do I need to provide information about my trading knowledge and experience during the registration process?

SquaredDirect runs an appropriateness test in order to evaluate whether Forex and CFDs are suitable for you to trade.
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What are the working hours of SquaredDirect?

SquaredDirect is open 24 hours a day starting from Monday 00:00 until Friday 23:59 GMT or GMT+1.
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Do I risk any real money when using a Demo Account?

No, using the demo account is completely risk-free and you will not lose real money.
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How do I open a Demo Account?

Opening a demo account is a great way to get used to our Trading platforms in a risk-free environment. By using the free demo account, you can gain the experience and knowledge you need in order to trade on a live account. Please complete the registration form which can be found in the Clients Portal.
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What happens to my positions during the weekends?

When the market is closed, your open positions are frozen. However, when the market re-opens, your positions may open at a different rate than the previous week’s closing rate.
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How can I prepare for the assessment?

In order to have a better understanding of CFD and Forex products and services, the risks involved, the impact of using leverage, and good risk management practices, we would strongly recommend you to spend some time to review our Educational Material.
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How can I open a Corporate Account?

From the website, select to open a Live Account. You will be directed to the SquaredDirect Account page. From there, select to open Corporate Account. You will need to complete the online registration and submit your corporate documentation.
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How do I install the MT4 platform?

Firstly, you need to download the MT4 trading platform from the Platforms section on our website. A window will appear with mt4setup.exe - please click on “Save file” to save the file on your PC and follow the instructions: a) Double click on the file you just downloaded to open it. b) Click Run and if you are asked for further permissions allow the program to run. c) In the new window, tick the box “Yes, I agree with all terms of this license agreement” if you agree with the terms and conditions outlined in the window. d) Now click “Settings” if you want to change the installation folder, otherwise click Next.
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Can I transfer my funds from another forex company straight to this one?

No, this is not possible.
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What currencies can I use to open a SquaredDirect account?

We currently accept the following currencies: USD, EUR.
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How can I change my SquaredDirect Lounge password?

Simply login to your Lounge and navigate to My Profile to change your password. If you have forgotten your password, please visit the Forgot Password page and request to reset it.
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How do I register a complaint?

SquaredDirect’s dedicated team is available 24-hours per day during the trading week and can provide prompt assistance via Live Chat, Phone and Email. Alternately, please refer to our Complaints Procedure and fill in the online Complaint Form.
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How can I withdraw funds if the card I used to deposit funds has been cancelled?

After a card has been cancelled, banks are obliged to allow limited transaction types to take place, including refunds.  You should, therefore, withdraw funds to the card you used to deposit, even if this card has been cancelled. You can expect to receive the funds in your new card which replaced the previous, cancelled card.
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How can I open an Individual Account?

From the website, select to open a Live Account. You will be directed to the SquaredDirect Account page. From there, select to open an Individual Account. You will need to complete the online registration and submit your documents before you are ready to start trading.
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How long is a demo account valid for?

A demo account does not expire. You may have it for unlimited time.
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How long does it take to process my deposit?

If you process a deposit through bank wire transfer, it normally takes 3-5 business days for the amount to be fully settled.
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Which documents do I need to provide to have my account approved?

Colourful copies of the following documents: 1. Identification
  • EU Citizens: Identity card / Passport / Drivers Licence
  • Non-EU Citizens: Passport (Photograph, personal details, signature, issue & expiry dates, date and place of issue, serial number to be clearly visible)
2. Proof of Address
  • Recent utility bill showing your name and dated in the last six (6) months (e.g. current local authority tax bill, bank or credit card statement, electricity bill)
Failure to provide the required documentation to support your application for a trading account will result in the refusal of acceptance. Please note that additional documentation may be requested.
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How can I change my password?

If you need to change your password, simply visit the SquaredDirect Lounge to login and indicate that you have lost your password. Fill in the email associated with your account and you will receive an email to reset your password.
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How can I deposit funds to my account?

SquaredDirect clients can fund their account via the SquaredDirect Lounge. Navigate to the Banking section and select to deposit.
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Do you offer Trade Signals?

No, SquaredDirect does not offer Trading Signals
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How can I begin trading with MT4 when the installation finishes?

Once you have completed the MT4 installation, you need to login to your Demo or Live account to start trading immediately. Open MT4, go to File, Login and use the credentials provided to you to login.
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Is it possible to transfer funds from my account to another client’s trading account?

No. We do not allow the transfer of funds between different client’s accounts and third parties.
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Why is the Banking section locked on my SquaredDirect Lounge?

Only verified clients are able to access the Banking section. A verified client is someone who has completed the appropriateness test, provided their documentation and has been verified by our Back Office Department.
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Which assets can I trade at SquaredDirect?

You may find more information regarding our instruments on our website under the Trading section.
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Where is SquaredDirect located?

SquaredDirect’s headquarters are located in Limassol, Cyprus
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Will I be sent a statement for my account activity?

SquaredDirect will automatically send you a monthly statement regarding your trading activity.
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What if all my utility bills are not in my name?

You may send us a recent bank statement, a bank confirmation letter or a tax bill stating your full name, your residential address and dated in last six (6) months as your proof of address
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What is the minimum amount required to open an account?

The minimum initial deposit depends on the account type selected. Please click to view all our accounts and the minimum initial deposit amount for each.
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Do you offer any kind of Bonus or Credit?

No, SquaredDirect does not offer Bonuses or Credit
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Can I deposit from a friend’s/relative’s account?

We do not accept any payment made from the account of third parties. All deposits must be made from your own account.
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Are my funds secured with SquaredDirect?

We are a member of the Investor Compensation Fund and all client transactions are authorized and secured. Client Funds are kept in segregated accounts with Reputable banks which ensures protection from risks related to the company's activities.
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What currencies do you accept?

We currently accept deposits in US Dollar (USD) and Euro (EUR).
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Will my Live Account be closed if it has a zero-account balance?

No, your account will not be closed if you have a zero-account balance.
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Where can I find the trading hours of a specific instrument?

You may find more information regarding our instrument trading hours on our website under the Trading section.
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How do I upload/send my documentation?

You can upload your documentation after you complete the registration process via the client portal or you can send them by email to backoffice@SquaredDirect.com
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Are my personal details secured with SquaredDirect?

SquaredDirect takes serious protective measures to ensure that all client’s personal details are held in absolute confidence. Your passwords are encrypted and your personal details and documentation are stored on secure servers which cannot be accessed by anyone apart from our authorised members of staff.
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How do I get around a firewall protection?

Disable the anti-virus firewall for the MetaTrader 4 application and open up port 443.
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Can I transfer funds from one account to another?

Yes. If you have more that one trading account you may transfer funds between them
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Can I open multiple trading accounts?

Yes, you can open more than 1 trading account.
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My application is for a Corporate Account. Whose name and address should be displayed on the address confirmation document?

The address verification document should display the entity’s name and primary business address.
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What is the relation between Squared Financial Ltd. and SquaredDirect?

SquaredDirect is owned and operated by Squared Financial (CY) Limited, Cyprus.  Squared Financial Ltd, is licensed and regulated by the Cyprus Securities and Exchange Commission- CySEC (Licence Number: 329/17)
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Can I transfer funds from one Trading Account to another?

Yes, you may transfer funds from one trading account to another by using the Internal Transfers facility on the Client Portal.
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What are your Margin Requirements?

Margin Requirements vary depending on the instrument. For more information please refer to the contract specifications on the corresponding Trading page, where you can see the requirements of all instruments that SquaredDirect offers
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Do you offer binary option trading?

No, SquaredDirect does not offer binary option trading.
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When have you acquired your Regulation?

SquaredDirect has been a Licensed Firm since 23/06/2017. Please note that SquaredDirect used to operate under the ProbusFX tradename.
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What is the difference between the Live and Demo Account?

With both accounts you trade in real market conditions. The only difference between the two, is that with a Demo account you do not use real money.
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Can I visit your offices?

You are more than welcome to visit us, just contact us in advance to book an appointment.
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Are there any charges for deposits?

SquaredDirect does not charge any fees or commissions for depositing funds. Please note that your bank or credit card provider may charge you for the use of their services.
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What mobile platforms do you offer?

Currently we offer MT4 for iOS and Android. For more information visit our MT4 Platform page.
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What is the difference between a demo and a live account?

A demo account, unlike a live account, is a virtual online forex trading account where clients can trade with virtual money. However, the charts, analysis and currency quotes are similar to a live account. With a demo account you are able to practice trading strategies and test the trading platform for free.
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What is ESMA?

The European Securities and Markets Authority (ESMA) is an independent EU authority that contributes to safeguarding the stability of the EU’s financial system by enhancing the protection of investors and promoting stable and orderly financial markets.
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What are the benefits of trading with a licensed broker?

A Forex Broker which is licensed by a respected authority means that it is providing financial services within the boundaries set by the respective regulator which has granted them this license.
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What should I do if I have not received my withdrawal

For withdrawals which have not been received after 5 working days from the withdrawal request date, please contact our Support Team at support@SquaredDirect.com
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Can I still open an account if I do not pass the appropriateness test?

No. Completing the Appropriateness Assessment is a requirement if you wish to establish a business relationship with us. If you fail the appropriateness test you are recommended to trade on a Demo Account.
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What are the trading spreads for all instruments?

Please visit our Trading section to access more information regarding our instruments.
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How can I contact SquaredDirect?

Contact Form: please send us your request using our contact form. Telephone: Please call us on +357 25260333. Our dedicated customer support Team is available 24/5. Live Chat: Please contact us via Live Chat.
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Can I visit the website while I’m still signed-in my SquaredDirect Lounge?

Yes, simply open a new tab on your browser.
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Can I change the leverage on my account?

Please send your request by contacting our Backoffice team by email at backoffice@SquaredDirect.com or through live chat.
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I cannot download the MT4 platform

Please be advised to clear the cache and the cookies of your Internet browser and then try to download the platform using a different Internet browser. Please also make sure that you have administrator rights while trying to download the platform and to save the installation file on your PC.
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How can I complete an internal transfer?

Simply login to your Client Portal, navigate to Banking and select Internal Transfers. Select the account you wish to transfer funds and define the account you wish to transfer the funds to.
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How much does it cost to open a SquaredDirect Account?

SquaredDirect does not charge any registration fees.
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How long does it take to process my withdrawal request?

All withdrawal requests are processed by our Back-Office Department within 1 working day however the time required for the funds to be transferred will depend on the payment method used. Bank Transfers are typically processed by us within 1 working day, however, it takes about 3-5 business days for the funds to be credited to your account.
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Why do I need to verify my email address?

To prove that you are a real person, that your email address exists and that you are the owner of the specific account.
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What do I need to start trading?

You will need a computer or a mobile device with a high-speed internet connection and a funded trading account.
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Is SquaredDirect an STP broker?

Yes, SquaredDirect is a full STP (Straight-Through-Process) broker. This means that SquaredDirect’s interests are aligned with those of SquaredDirect’s traders.
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Do I need to download any software before I start trading?

Yes, you need to download a trading platform on your PC/Device in order to trade on our MT4 client terminal.
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How do I change the password for my trading platform?

To change your current password on the MT4/MT5 platform please do the following: Go to Tools, Options. Choose the server tab and click “Change” Verify your current password in the “Current password” field, then tick “Change master password”. Enter your new password in the “New password” field and confirm it in the “confirm” field.
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Why is the platform closed during the weekend?

The SquaredDirect platform is closed over the weekend as all underlying financial instrument markets are closed.
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Is my deposit/money with SquaredDirect safe?

All funds transferred to SquaredDirect are deposited in segregated bank accounts. These accounts are used only for client deposits and withdrawals. These funds will not be used to pay back creditors of SquaredDirect in the event of default of the company. SquaredDirect is also a member of the Investor’s Compensation Fund which ensures that the client’s interests are protected in the case of company bankruptcy.
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What are the trading hours of your platform?

The market trading hours are from 21:00 GMT till Friday 21:00 GMT during the Day Light saving times. During winter time trading hours are from Sunday 22:00 GMT till Friday 22:00 GMT. However, some of instruments are available only during specific hours. Please check the trading hours on the contract specifications pages under the Trading section on our website.
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How do I add an EA on the platform?

To add a custom EA you must:
  • First, either Create or Download an EA
  • Copy the EA file that you would like to install
  • Click on the ‘Open Data Folder’ on the MT4 platform, under the ‘File’ tab.
  • Open the ‘MQL4’ Folder
  • Open the ‘Experts’ file’
  • Paste the EA you wish in install in that folder
  • Restart your MT4
  • Look for the Expert Advisors section under the Navigator panel and you should be able to see the newly added EA, which you can then drag onto the chart you wish to trade on.
  • You may switch it on and off again with the auto trading button
  • If you see a Smiley Face on the top right-hand side of the chart, that means your EA is active.
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Can someone from SquaredDirect manage my investments?

Yes, SquaredDirect also offers Portfolio Management services to its traders. In case you are interested in Portfolio management, please contact our Backoffice team by email at backoffice@SquaredDirect.com.
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Can I transfer my trading History from another trading company to a trading account with SquaredDirect?

No, this is not possible.
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Who is responsible for the supervision of SquaredDirect’s financial statements?

The supervision is monitored and reviewed by our external auditor.
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How can I change my address?

In order to change the physical address, you registered please email a Proof of Residence from your current address such as a recent utility bill or bank statement issued in your name and your showing new address dated within the last 6 months to support@SquaredDirect.com
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Do you offer Trading Education?

Yes, we offer Premium Content which is available in the Education section of our website under the Squared Learning Room.
  • Video Tutorials: Forex Trading, Psychology, Forex Strategies, MT4, Technical Indicators
  • Trading Guides
  • Glossary
  • Trading FAQs
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Do you accept US clients?

We are unable to accept account applications from residents of the United States of America.
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How can I open multiple trading accounts?

Please note that only verified clients are able to request an additional account. Once you are logged in on the SquaredDirect Lounge, navigate to the Trading Account section and select to open an Additional Account. Fill in the form by stating your desired account and trading conditions.
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I do not wish to complete a registration form and reveal my personal information. Is this possible?

No. We cannot accept clients who do not complete the registration process. As a regulated company, subject to numerous laws, compliance requirements and client acceptance procedures — we are required to have on file KYC (Know Your Client) information. We make every effort to protect the confidentiality, security and integrity of our clients’ identity information.
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Why do I need to provide answers regarding my financial status?

SquaredDirect is a regulated and licensed financial firm and is required to collect financial details from clients in order to comply with regulatory guidelines. We do not share your information with third parties.
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How can I change my name?

This option is available only for clients who changed their own name after registering an account with us. Please email your request to support@SquaredDirect.com  from your registered email. Once the change has been done, you will be sent a confirmation email.
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How long does it take for my funds to be transferred from one account to another?

Your funds are transferred immediately.
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Can I add a custom EA?

Yes, at SquaredDirect you are able to add your own custom EAs to the platform.
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Can I trade with SquaredDirect with an existing MT4 trading account?

No, you cannot. You need to register for a SquaredDirect Account.
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Is SquaredDirect a regulated broker?

Yes, Squared Financial (CY) Limited is regulated by CySEC under license No. 329/17. SquaredDirect is owned and operated by Squared Financial (CY) Limited , Cyprus. SquaredDirect uses the domain 'www.SquaredDirect.com'.
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Why do I need to take the appropriateness test?

This is a way of ensuring that traders have the required knowledge and experience to understand the products we offer and both the positive and negative implications of trading. This helps us protect our clients by matching their answers to the correct trading levels, products and services.
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Can profits made with a Demo Account be withdrawn?

No. The demo account is only for practising using virtual funds therefore profits or losses are not awarded.
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What is the leverage provided for Retail Clients?

The maximum leverage granted to Retail clients based on the ESMA requirements is up to 1:30. However, the level of leverage may vary based on the product.
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What trading platforms does SquaredDirect offer?

At present we offer our clients the ability to trade on the MT4 platform and in the future on the MT5.
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