FXCM
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77% of retail CFD accounts lose money.

Vs.

SquaredFinancial
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69.9% of retail CFD accounts lose money.

FXCM Vs. SquaredFinancial - Compare and Choose the Right One

Updated Oct 20 2022

Visit

77% of retail CFD accounts lose money.

Visit

69.9% 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
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

2

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

0

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • ASIC (Australia)
  • CySec (Cyprus)
  • FCA (United Kingdom)
  • FSCA (South Africa)
  • CySec (Cyprus)
  • FSAS (Seychelles)
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
  • High minimum deposit for SquaredElite account (5,000 €)
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

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.

📍 Year Founded
1999 2005
💳 Minimum Deposit Range
$50 250 € (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. 5 - EUR, USD, GBP, CHF, ZAR.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

RU, US, CA, JP, SK.

US, CA, IR, SY.

📊 STP Account
No Yes
📊 DMA Account
No Yes
📊 ECN Account
No Yes
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs Hybrid
Total Asset Offering
285 17,101
Exchange Access
0 0
📙 Real Stocks
0 8,000
📙 Stock CFDs
200 8,000
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
41 40
📗 Commodities
0 0
📗 Commodities CFDs
11 5
📕 Indices
0 0
📕 Indices CFDs
16 15
📔 ETFs
0 0
📔 ETFs CFDs
0 1,000
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
17 25
📒 Bonds
0 0
📒 Bonds CFDs
0 0
📓 Options
0 0
📓 Options CFDs
0 0
📗 Futures
0 0
📗 Futures CFDs
0 16
Trading Experience
📈 Minimum Stock Trade Size
1 Share 1 Share
📉 Minimum ETFs Trade Size
Unavailable 1 ETF
📈 Minimum Crypto Trade Size
1 Unit Varies per Cryptocurrency (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
$1,000 (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
Unavailable Unavailable
📈 Minimum Futures Trade Size
Unavailable Varies per future (Eg: 1 Contract)
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
30 30
💪 Professional Leverage
500 500
✍ 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
📺 cTrader
No No
💻 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.

None
💰 Deposit Fees
None None
💰 Withdrawal Fees

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

None
💰 Commissions
None

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
Dynamic - From 1.2 Pips Dynamic - From 0 to 1.2 Pips
📉 SP500
Dynamic - From 58 Pips Dynamic - From 150 Pips
📈 GOLD
Dynamic - From 41 Pips Dynamic - From 110 Pips
📉 TSLA (Stock CFD)
Dynamic - From $1.04 Dynamic - Market Spread
📈 XLK (ETF - CFD)
Unavailable Dynamic - Market Spread
📉 BTC
Dynamic - From $51 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
📡 Educational Content
Yes Yes
📡 Live Chat Support
No No
📡 Video Tutorials
No No
📡 Account Management
No Yes
📡 Webinars
No No