SQUAREDFINANCIAL Review: Withdrawal Requests Go Unanswered as Clients Report Locked Accounts

SQUAREDFINANCIAL is a Cyprus-registered broker founded in 2022, offering Forex, metals, indices, energy, stocks, futures and cryptocurrencies through MT4, MT5 and its own mobile app. On paper it holds a CySEC licence in Cyprus and an ASIC licence in Australia, alongside an offshore Seychelles FSA licence under the entity SQ Sey Ltd. Over the past few months, however, a run of user complaints has centred on one issue: traders say they submit a withdrawal, then lose access to their account while support goes silent.

WikiFX currently scores the broker at 7.35. The complaints below do not prove any wrongdoing on their own, but they form a consistent pattern that anyone considering a deposit should review carefully before sending money.

Contents

01

Complaint Pattern Analysis

02

Regulatory Warning

03

Basic Information

04

Score and Impact

05

Final Thoughts

Complaint Pattern Analysis

The recent complaints follow a similar sequence. According to users, they request a withdrawal, the request is not processed, emails to the support address go unanswered, and then the client portal or MT4 terminal stops working.

A Malaysia-based trader wrote in August 2026 that they submitted withdrawals in late May and early June, were blocked, and can no longer log in.

Screenshot submitted by the user with the complaint (2026-08)

Another user reported that USD 1,702 was deducted from an MT4 account without the withdrawal being paid, and that emails and customer service were unreachable.

Screenshot submitted by the user with the complaint (2026-06)

A third user said they submitted a USD 1,879 withdrawal request while the market appeared frozen, and received no reply.

Screenshot submitted by the user with the complaint (2026-06)

Across the records, the same details recur: no withdrawal records, customer service unreachable, and in some reports the platform stopped opening the market for consecutive days. Several complainants said they suspected the broker had “run away” , that is their wording, not a finding. The comments are user statements rather than verified outcomes, but the concentration around withdrawals and account access is difficult to ignore.

Regulatory Warning

There is no confirmed regulatory enforcement action against SQUAREDFINANCIAL in the data available to WikiFX. What the records do show is a structural point worth attention.

The CySEC licence (329/17) and ASIC licence (473495) are shown as regulated. The complaints, however, repeatedly name the Seychelles entity SQ Sey Ltd and its Seychelles FSA licence (SD024), which is an offshore licence rather than a full onshore authorisation. Offshore licences generally offer weaker client protection and less straightforward recourse than CySEC or ASIC supervision, and that matters when most recent complaints come from Malaysia and Hong Kong.

In short, the company is not unlicensed, but many affected clients appear to have been onboarded under the offshore arm, which changes how much protection they can realistically expect.

Basic Information

SQUAREDFINANCIAL was founded in 2022 and presents itself as a regulated broker offering Forex, metals, indices, energy, stocks, futures and cryptocurrencies, with high leverage and a low minimum deposit of USD 50. It offers MT4, MT5 and its own SquaredFinancial app, and lists account types including SquaredPro, SquaredElite and Islamic accounts.

WikiFX Dealer Page

Score and Impact

WikiFX currently scores SQUAREDFINANCIAL at 7.35. The score reflects the presence of regulated licences and a broad product range, but the recent complaints about withdrawals and account access sit alongside that score rather than being erased by it. For a decision page, the score is one signal and the pattern of recent user reports is another; here they point in different directions.

Final Thoughts

The confirmed facts are that SQUAREDFINANCIAL is a licensed broker with a moderate WikiFX score, and that a run of recent user complaints centres on unprocessed withdrawals, blocked logins and silent support, with the offshore Seychelles entity named in several reports. That is not proof of wrongdoing, but it is a reason to be careful, especially for traders in Malaysia and Hong Kong.

If you already hold funds with the platform, test a small withdrawal first and keep records of every request and reply. Before opening a new account, confirm which licence you would actually be onboarded under, and check the live score and latest complaints on the WikiFX App, where new reports appear as they come in.