About SQ Sey Ltd
Who Is SQ Sey Ltd?
SQ Sey Ltd, trading as SquaredFinancial, is a forex and CFD broker registered in the Seychelles. Its official website, sqfin.com, presents the company as a multi-asset broker offering trading in forex, indices, futures, metals, commodities, stocks, ETFs, and crypto. The site claims 20 years of industry experience, though our records do not confirm the founding date.
The broker operates under a Securities Dealer licence from the Financial Services Authority (FSA) of Seychelles, with licence and status 'Licensed'. This offshore registration places it under light regulatory oversight compared to major financial centres, which is a key consideration for traders assessing risk.
Regulatory Status
SQ Sey Ltd is regulated by the FSA Seychelles, a regulator known for its relatively light-touch approach. The licence on file is for a Securities Dealer, numbered, and is listed as 'Licensed'. This means the broker is authorised to conduct securities dealing activities in the Seychelles.
However, the FSA Seychelles does not offer the same level of investor protection as regulators like the FCA or CySEC. There is no compensation scheme for clients, and oversight is generally less stringent. Traders should be aware that this regulatory framework provides limited recourse in case of disputes.
Trading Accounts and Platforms
The broker offers two primary account types: SquaredPro and SquaredElite. SquaredPro is positioned as a low-cost entry account with no minimum deposit, while SquaredElite requires a $500 minimum and offers tighter spreads with a commission. Both accounts provide leverage up to 1:2000 and access to the same platforms.
Trading platforms include MetaTrader 4 and MetaTrader 5, which are widely used in the industry, along with a proprietary mobile app. The broker also supports automated trading through expert advisors, catering to algorithmic traders.
Instruments and Trading Conditions
According to the website, the broker offers over 1,000 tradable instruments across seven asset classes, including 40+ currency pairs, major indices, futures, metals, commodities, stocks, and cryptocurrencies. Spreads are advertised from 0.0 pips on certain accounts, and leverage up to 1:2000 is available.
The broker claims fast execution speeds of around 30ms and negative balance protection, which prevents clients from losing more than their account balance. These features are common among retail CFD brokers, though actual conditions may vary based on market liquidity and account type.
Funding and Customer Support
The broker states it offers a range of payment methods for deposits and withdrawals, with availability depending on the client's country of residence. It requires that all payment methods be in the client's name and may request proof of ownership to prevent third-party payments.
Customer support is available from Monday to Friday, 7 am to 9 pm GMT+3, via phone and an online contact form. The registered office is located in Mahe, Seychelles, specifically at Commercial House 1, Office no 4, Eden Island.
Who Is It For?
SQ Sey Ltd appears to target retail traders seeking access to a wide range of markets with high leverage and low initial deposits. The SquaredPro account, with no minimum deposit, is designed to attract beginners, while the SquaredElite account offers tighter spreads for more active traders.
However, the offshore regulatory status and lack of independent reviews mean it is best suited for experienced traders who understand the risks of trading with a lightly regulated broker. Novice traders may want to exercise caution and consider more established, heavily regulated alternatives.
Overview compiled by FXCanary from regulatory records and public data. full SQ Sey Ltd review