SQUIRE FX

SQUIRE FX is a retail forex and CFD broker registered in Saint Vincent and the Grenadines (SVG), an offshore jurisdiction known for minimal financial oversight. The company was established on 26 February 2021 and operates from a registered address at Suite 305 Griffith Corporate Center, Kingstown. Our review found that public information about the broker is extremely limited, and no independent user reviews or verifiable trading records are available.

As a broker based in a jurisdiction with no dedicated financial regulator, SQUIRE FX does not fall under the supervision of any recognised authority such as the FCA, CySEC or ASIC. This lack of regulation represents a significant information gap for traders considering this broker, as there is no external oversight to ensure fair practices or client fund segregation.

According to our records, SQUIRE FX holds no licence from any financial regulatory body. The country of registration, Saint Vincent and the Grenadines, does not have a forex-specific regulator and does not require brokers to obtain a licence to offer online trading services. This means that SQUIRE FX operates in a legal grey area where client protections such as negative balance protection, compensation schemes, and dispute resolution mechanisms are absent.

We cross-checked the broker's registration against the SVG Financial Services Authority (FSA) register, which confirmed the entity is registered as a business but not as a regulated financial services provider. FXCanary scores this broker at 51/100 on our Scam Risk Scale, indicating an elevated risk level due to the lack of regulatory oversight and transparency.

SQUIRE FX offers three account tiers: a VIP Account, an ECN Account, and a Standard Account. The VIP Account requires a minimum deposit of $500, while the ECN and Standard accounts both require a minimum deposit of $100. All three accounts offer a maximum leverage of 1:500, which is extremely high and typically carries significant risk for retail traders.

The broker does not disclose the specific instruments or platforms available on its website in our known facts, so we cannot verify what assets are tradable. Leverage of 1:500 can amplify both profits and losses, and is banned or restricted in many regulated jurisdictions. The higher minimum deposit for the VIP account suggests it may offer lower spreads or additional features, but without official documentation, these remain speculative.

Our known facts do not include details on deposit or withdrawal methods offered by SQUIRE FX. Typically, brokers in offshore jurisdictions accept bank transfers, credit/debit cards, and various cryptocurrencies, but we cannot confirm this for SQUIRE FX. The absence of publicly available information on payment processing raises concerns about transparency and the reliability of fund transfers.

Traders should exercise caution when depositing funds with an unregulated broker, as there is no guarantee of timely withdrawals or protection against insolvency. Without a regulated intermediary, clients have limited recourse if disputes arise over withdrawals or account freezing.

Given its unregulated status and high leverage offerings, SQUIRE FX may appeal to experienced traders who are comfortable with significant risk and are seeking high leverage in an unregulated environment. However, the lack of regulatory oversight means that novice traders or those requiring client protections should avoid this broker entirely.

The minimum deposits are relatively low ($100 for ECN and Standard accounts), making it accessible to small retail traders, but the elevated risk profile outweighs the low entry barrier. Traders in jurisdictions with strict forex regulations should also consider the legal implications of trading with an unlicensed offshore entity.