简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:One unfortunate investor, Sinan, hailing from Turkey, recently found himself in a distressing situation with Squared Financial, a brokerage platform. Sinan shared his harrowing experience with WikiFX, shedding light on how he lost both his principal and hard-earned profit due to what he claims is commercial misconduct by Squared Financial.
One unfortunate investor, Sinan, hailing from Turkey, recently found himself in a distressing situation with Squared Financial, a brokerage platform. Sinan shared his harrowing experience with WikiFX, shedding light on how he lost both his principal and hard-earned profit due to what he claims is commercial misconduct by Squared Financial.
About Squared Financial
SQUAREDFINANCIAL is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. Squared Financial is a regulated online trading broker that offers access to trade multiple financial instruments, including forex, metals, stocks, indices, futures, energies, and cryptocurrencies. Squared Financial offers its clients a wide range of trading instruments, covering over 10,000 financial instruments across 7 asset classes. This allows traders to diversify their investments and have access to multiple markets to find trading opportunities. The asset classes available for trading include forex, metals, stocks, indices, futures, energies, and cryptocurrencies. Squared Financial has a decent WikiFX score, however, we think this broker lacks risk management.
Complaints
Recently we received multiple complaints against this broker, which is a red flag.
The Case in Details
Sinan, a 25-year-old trader, opened an account with Squared Financial, investing $2731.81 in girket on 01.03.2024. Initially, his trading experience seemed normal, and by the end of his third day, he had accumulated a total profit of $3304. Encouraged by his success, Sinan decided to initiate a withdrawal request for $3000 on 08.01.2024, anticipating the enjoyment of his gains.
To Sinan's shock, on 09.01.2024, he received a notification from Squared Financial stating that, due to alleged commercial misconduct, his entire profit of $3304 had been removed from his account. Furthermore, he was informed that he had to return his initial investment, leaving him with nothing to show for his trading efforts.
Sinan vehemently denies any wrongdoing on his part and insists that his trading activities were entirely consistent with normal market movements. To support his claim, he has provided evidence, that he believes proves the legitimacy of his trades and the unjust nature of Squared Financial's actions.
Sinan has shared evidence with WikiFX, including trade logs, statements, and other relevant documents that he believes corroborate his account of the events. These materials are crucial in shedding light on the alleged misconduct by Squared Financial and supporting Sinan's case.
Conclusion
Squared Financial's actions, as described by the victim, paint a grim picture of a forex broker engaging in systematic deception and extortion.
This expose serves as a warning to the trading community, urging individuals to thoroughly research and verify the credibility of forex brokers before entrusting them with their hard-earned funds. Squared Financial, it seems, is not the haven of financial success it claims to be but rather a dangerous trap for unsuspecting traders.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
A revered broker name is what you want to associate with being a forex trader. Fortunately, you have plenty of such names on WikiFx where the best forex brokers and regulators are listed to ensure your transaction is genuine. One such name is FXCM, a regulated forex broker in the United Kingdom (UK). Let’s check out more details about FXCM through this article.
A fake video showing former Penang Chief Minister Lim Guan Eng promoting an investment scheme has started spreading online. Lim has come forward to say the video is not real and was made using artificial intelligence (AI).
In an industry where safety and transparency are essential, the regulatory status of online brokers has never been more important. For traders seeking to protect their capital, ensuring that a platform operates under recognised and stringent oversight can make all the difference. Keep reading to learn more about IronFX and its licenses.
Discover an in-depth comparison between IronFX and Tickmill, covering regulations, account types, features, and recent cases to guide your trading choices.