SQUAREDFINANCIAL Review: Withdrawals Blocked and Platform Goes Silent , What Traders Need to Know

SQUAREDFINANCIAL is a Cyprus-registered broker founded in 2022, operating under CySEC license 329/17 alongside an offshore Seychelles FSA license SD024. Over recent months, a wave of user complaints on WikiFX has pointed to a consistent and escalating problem: clients across multiple regions report being locked out of their accounts and unable to withdraw funds, with customer support going completely silent.

This pattern intensified sharply between May and July 2026. Users describe not just delayed withdrawals but a near-total shutdown of access , frozen trading terminals, vanished withdrawal records, and emails that go unanswered. This article examines what has been reported, what regulatory protections exist, and what traders should consider before engaging with this broker.

Complaint Pattern Analysis

The complaints follow a remarkably similar sequence: a functioning trading account that suddenly breaks down. The platform stops updating, withdrawal requests receive no response, and customer service disappears.

In early June 2026, a user from Hong Kong reported that the platform had frozen entirely for two consecutive days. According to the complaint, withdrawal records vanished, customer service was unreachable, and emails went unanswered. The user asked whether the platform was preparing to run.

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

A detailed complaint from mid-May 2026, also from Hong Kong, reveals a broader pattern. The user reported losing over three thousand US dollars. Friends who had never even traded were blocked from withdrawing, while another friend who had made profits was stuck for an entire month. When the user contacted support, the only reply was that the withdrawal was “under review.”

Screenshot submitted by the user with the complaint (2026-05)

The most recent complaint came from a Malaysian user in July 2026. According to the complaint, the user was completely locked out: the client portal was inaccessible, MT4 showed “No Connection” and “Invalid Account,” and manual withdrawal requests sent to support@sqfin.com received no reply. The user has since escalated the case to the Seychelles Financial Services Authority.

Screenshot submitted by the user with the complaint (2026-07)

A separate case from April 2026 involving a Malaysian user who turned a $3,000 investment into over $20,000 in profits adds further context. According to the complaint, after several successful small withdrawals, the user's final $2,000 withdrawal was rejected. Only after agreeing to forfeit all profits and request just the principal , $1,650 , was the withdrawal approved within minutes.

Taken together, these complaints suggest a broker that selectively processes withdrawals, with profitable traders and those attempting larger amounts facing the most resistance.

Regulatory Warning

SQUAREDFINANCIAL holds a CySEC license (329/17) in Cyprus and an ASIC license (473495) in Australia , both classified as active and regulated on WikiFX. The CySEC-regulated entity is Squared Financial (CY) Ltd.

However, the entity named in at least one of the most detailed complaints , SQ Sey Ltd , operates under a Seychelles FSA offshore license (SD024). Offshore regulation offers considerably weaker client protections than EU or Australian oversight. Complaints from Asian clients, in particular, appear to involve accounts booked under this Seychelles entity.

Basic Information

SQUAREDFINANCIAL was founded in 2022 and is based in Cyprus. It offers trading across forex, metals, indices, energy, stocks, futures, and cryptocurrencies through MT4, MT5, and a proprietary mobile app. The broker advertises leverage up to 1:2000. Account types include SquaredPro, SquaredElite, and Islamic swap-free accounts.

Score and Impact

WikiFX assigns SQUAREDFINANCIAL a score of 1.65 out of 10, placing it among the lowest-scoring active brokers on the platform. This score reflects not an absence of regulatory credentials but the volume and consistency of unresolved user complaints concentrated around fund access and withdrawal refusals.

For traders who currently hold funds with SQUAREDFINANCIAL, the consistent pattern , locked accounts, silent support, and selective withdrawal processing , represents a material risk.

Final Thoughts

The evidence points to a broker that, despite holding legitimate CySEC and ASIC licenses, has generated a concentrated wave of withdrawal-related grievances across multiple regions over several months. The pattern is not one of isolated delays or miscommunication; users consistently describe a sudden loss of access followed by radio silence from support.

If you are considering SQUAREDFINANCIAL or already have an account, verify which entity holds your funds and whether it falls under EU or offshore regulation. Start with a small test withdrawal before committing larger amounts, and monitor the WikiFX App for real-time score changes and new complaints. When multiple users are already reporting being locked out, waiting for more evidence before depositing is the safest course.