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Squared Financial - Discussion

  • #1
  • First Post: Jun 26, 2015 3:31am Jun 26, 2015 3:31am
Hi guys,

I have found what could be an interesting broker for scalpers. Squared Financial is a Dublin based broker http://squaredfinancial.com/en/

They seem offering a very good pricing especially on EURUSD. I get an average spread of 0.5 (demo MT4 account).

My questions are:

1) Do they charge extra-commissions? (It doesn't seem to be the case but I want to be sure)

Attached Image



2) Is anyone trading with them?


Have a nice day.
  • #2
  • Jun 26, 2015 5:57am Jun 26, 2015 5:57am
Quoting Unabletrader
My questions are: 1) Do they charge extra-commissions?
They do, it's volume based.

Just send them an email, I just did. I had them on my list since a while now and maybe I'll open an account with them in a month or so - I trade from different brokers since Alpari.

Interesting thing is: all their top-level prices have a minimum volume of 1 Million
  • #3
  • Jun 26, 2015 7:21am Jun 26, 2015 7:21am
Yes, I sent a mail but I haven't got any answer yet.

Do you know the volume based schedule?

Thank you for your answer!
  • #4
  • Jun 26, 2015 7:27am Jun 26, 2015 7:27am
Hi,

received an answer around 1 hour after I mailed them, pretty fast

Commission starts at 25 $ per million (HT) (for < 250 million monthly turn over) and goes to 10 $ per million if trading > 1500 million per months.
I'm doing 10 Lot per trade right know (scalping, quiet a few trades per day) so will end up somewhere in the middle I guess. Should work for me.
Still, I'm considering some other options and will try out a few brokers and make a decision later this summer.
  • #5
  • Jun 26, 2015 7:48am Jun 26, 2015 7:48am
Thank you for your answer.

When you say 25US per mio HT, you mean "half-turn"?

So, it would be sth like 50US per mio (2x25) + 0.3/4 spread = a global spread of 0.8 on EU. If it's that, Dukascopy offers better pricing on EU and their volume-based program may be more interesting.

Thank you.
  • #6
  • Jun 26, 2015 7:57am Jun 26, 2015 7:57am
Yes, HT = Half-turn, RT = Round-turn.
BTW Dukas are one of the other brokers I'm considering, too. They have a more find grained commission structure but to get 10 per million with them you have to make a lot more volume.
  • #7
  • Jun 26, 2015 8:03am Jun 26, 2015 8:03am
Quoting JensG
Yes, HT = Half-turn, RT = Round-turn. BTW Dukas are one of the other brokers I'm considering, too. They have a more find grained commission structure but to get 10 per million with them you have to make a lot more volume.
Yes exactly. Sth about 4bn.

LCG website claims offering a 0.6 spread on EU without extra-fee so I opened a demo account. Unfortunately the average spread is about 1.0

Hard to reach a 0.5/6 spread on EU without generating huge volume. Maybe in some years....
  • #8
  • Jun 26, 2015 8:11am Jun 26, 2015 8:11am
Quoting Unabletrader
LCG website claims offering a 0.6 spread on EU without extra-fee so I opened a demo account. Unfortunately the average spread is about 1.0
I considered them too but unfortunately they changed their entire pricing structure in my trial period so I decided against them. You could have a look at priceMarkets, I believe they had something to do with LCG in the past but not any more as it seems. I didn't try them though, so don't count it as a recommendation. What somehow impressed me with Squared is that they told me about the minimum volume of the top bid/ask, I'd definitely ask that when "interviewing" other brokers as it is just too easy to set up some "decoy" with very thin liquidity at the top.
  • #9
  • Last Post: Jun 26, 2015 8:21am Jun 26, 2015 8:21am
Quoting JensG
{quote} I considered them too but unfortunately they changed their entire pricing structure in my trial period so I decided against them. You could have a look at priceMarkets, I believe they had something to do with LCG in the past but not any more as it seems. I didn't try them though, so don't count it as a recommendation. What somehow impressed me with Squared is that they told me about the minimum volume of the top bid/ask, I'd definitely ask that when "interviewing" other brokers as it is just too easy to set up some "decoy" with very thin...
Yeah, already tried PriceMarkets and yes they were linked to LCG in the past.

https://pricemarkets.com/pricing/

They are good too but not cheaper than Squared or Duka.


Quote
I'd definitely ask that when "interviewing" other brokers as it is just too easy to set up some "decoy" with very thin liquidity at the top

Yes, definitely sth important. Duka says that it's possible to trade 100-200 mio per click on EU!

So far I'd say the best option for me is to trade with Duka trough an IB which offers 40% rebates on commission. It would give sth very good on EU!
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