FXCM
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74-89% of retail CFD accounts lose money.

Vs.

SquaredFinancial
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63.2% of retail CFD accounts lose money.

FXCM Vs. SquaredFinancial - Compare and Choose the Right One

Updated Jan 08 2022

Visit

74-89% of retail CFD accounts lose money.

Visit

63.2% of retail CFD accounts lose money.

Overview

FXCM is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.

SquaredFinancial is a global brokerage firm founded in 2005 and headquartered in Cyprus that specialises in providing real stocks along with CFDs on all major asset classes paired with MT4 & MT5 platforms.

Best For
  • Professional algorithmic traders looking to benefit from their comprehensive API offering 
  • Professional high volume traders looking to exploit their competitive commissions in shares
  • High volume FX traders looking to open a SquaredElite account with spreads from 0 Pips
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The Good
  • Comprehensive API offering with a variety of conditions and programming languages at no additional cost
  • Proprietary platform (Trading Station)
  • Extensive asset offering (more than 10,000+ products)
  • Real stocks are offered along with CFDs
  • Very competitive share trading commissions when compared to similar brokers
The Bad
  • Lack of asset variety in their offering (over 300+ financial instruments)
  • Costly spreads when compared to similar competitors
  • Platform offering is limited to only MT4 and MT5
  • There is no weekend trading enabled for cryptocurrencies
  • High minimum deposit for SquaredElite account (5,000 €)
Status
Operational Operational
Recent News
N/A N/A
Key Data
⌛ Account Opening Time
1 Day 1 Day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

🏛 Financial Regulators
  • ASIC (Australia)
  • CySec (Cyprus)
  • FCA (United Kingdom)
  • FSCA (South Africa)
  • CySec (Cyprus)
  • FSA (Seychelles)
📍 Year Founded
1999 (FXCM Group) 2005
💳 Minimum Deposit
€, £, $ - 50 (Varies by payment method)

250 € (SquaredPro Account), 5,000 € SquaredElite Account

💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill

Skrill and Neteller are not available to FXCM EU clients at the moment

  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill
  • Instatransfer
💵 Account Base Currencies
4 - EUR GBP, USD, CHF. 4 - EUR, USD, GBP, CHF.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
RU, US, CA, JP, SK and more. US, CA, IR, SY.
📊 STP Account
No No
📊 DMA Account
No Yes
📊 ECN Account
No No
Assets
📚 Available Assets

CFDs on stocks, currencies, commodities, cryptocurrencies and indices

  • Real stocks and ETFs
  • CFDs on stocks, ETFs, commodities, currencies, indices, futures, cryptocurrencies.
📙 Stocks
200+ 8,000 Real Stocks / 8,000 Stock CFDs
📘 Currency Pairs
39 40+
📗 Commodities
11 5
📕 Indices
15 15
📔 ETFs
N/A 1,000 ETFs CFDs
💸 Cryptocurrencies

6 (Cryptocurrencies CFDs are not available to retail clients residing in the UK)

13
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A 16
📝 Notes:
All of FXCM's assets are CFDs.

SquaredFinancial provides real stocks along with CFDs on the most common asset classes.

Trading Experience
📈 Minimum Stock Trade Size
1 share 1 Share
📉 Minimum ETFs Trade Size
N/A 1 ETF
📈 Minimum Crypto Trade Size
1 unit of any cryptocurrency Varies per Cryptocurrency (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
$1000 (0.01 Lots) $1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
Varies by Commodity (Eg: 1 Troy ounce of Gold) Varies per Commodity (Eg: 1 Gold Contract)
📉 Minimum Bonds Trade Size
N/A N/A
📈 Minimum Futures Trade Size
N/A Varies per future (Eg: 1 Contract)
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
Up to 1:500 (Varies) Up to 1:500
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
No Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes No
📱 Android App
Yes No
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
No Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes No
💻 Proprietary Platform
Yes No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes No
👫 Social Trading
Yes No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes No
Fees
💰 Inactivity Fee

50 units of the account's base currency yearly after 1 year of inactivity.

No
💰 Deposit Fees
No No
💰 Withdrawal Fees

Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).

No
💰 Commissions
No

Yes, depending on account type or assets. For account types:


  • SquaredPro account has no default commissions
  • SquaredElite account has a commission of $5 per lot

For particular assets there are commissions on all accounts, specifically in shares as follows:


  • USA shares have a $0.06 per share commission (with a minimum of $2)
  • European shares have a 0.15% commission of the transaction value (with a minimum of 5 €)
Spreads
📈 EUR/USD
From 1.2 Pips (As per our research) Dynamic - From 0 to 1.2 Pips
📉 SP500
Dynamic - From 58 Pips (As per our research) Dynamic - From 150 Pips
📈 GOLD
Dynamic - From 41 Pips (As per our research) Dynamic - From 110 Pips
📉 TSLA (Stock CFD)
Dynamic - From $1.04 (As per our research) Dynamic - Market Spread
📈 XLK (ETF - CFD)
N/A Dynamic - Market Spread
📉 BTC
Dynamic - From $51 (As per our research) Dynamic - From $250
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
No No

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