FXCM Vs. SquaredFinancial - Compare Trustworthiness, Capabilities, Fees and Legitimacy

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

**The below information is provided based on FXCM EU LTD. For other FXCM entities, please go to the corresponding FXCM website for more information.

TheTradingBible.com is acting in a capacity of marketing affiliate for FXCM EU LTD.

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.

• 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

• ASIC (Australia)
• CySec (Cyprus)
• FCA (United Kingdom)
• FSCA (South Africa)

• CySec (Cyprus)
• FSAS (Seychelles)

• 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

• Lack of asset variety in their offering (over 463+ financial instruments)
• Costly spreads when compared to similar competitors

• Platform offering is limited to only MT4 and MT5
• High minimum deposit for SquaredElite account (5,000 €)

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• 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.

• Visa
• Mastercard
• Bank Transfer
• Neteller
• Skrill

• Visa
• Mastercard
• Bank Transfer
• Neteller
• Skrill
• Instatransfer

RU, US, CA, JP, SK, BE and more.

US, CA, IR, SY.

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

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

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 €)