Squire FX Review: An Unregulated Forex Broker From St. Vincent and the Grenadines

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Squire FX Review
  • Fund Safety
  • Regulation Status
  • Customer Support
0.5

Summary

No professional forex broker would put out such a website. Do not trust these people with your money. Moreover, you do not want to invest in amateurs who do not know what they are doing. You can even tell that this company wants to provide education, but they do not know how to. Invest with reliable forex trading companies in the market.

Squire FX is a company that claims to have the most diversified forex trading experience. It seems that every company says this about their platform. Unfortunately, Squire FX is not an experienced company with professionals behind it. These are scammers with no intention of servicing your investment needs.

Moreover, this company has only been in the market for less than six months. Additionally, we can assure you that these people do not plan to stick around for long. They will exit the market after stealing people’s funds. 

Squire FX Review, Squire FX Company

If you are looking to invest in the forex market, this is not the company for you. It has nothing good to offer you. You are better off sticking with the most trustworthy and legitimate companies in the market. Such companies have been in the market longer and continue to prove to work. Moreover, they operate with complete transparency.

Investing in companies like Squire FX will always lead to you losing your funds. Ensure you do enough research before investing your funds. Ensure that the company you are investing with has the proper setup to deliver the promises they make to clients.

Squirefx.com Review

Squire FX calls itself an international forex brokerage company. However, the website this company presents to clients does not match this. It is one of the poorest designed websites. It seems that the company only intended to put out something for people to see. The information on the website has a lot of gaps that you should not ignore.

No professional forex broker would put out such a website. Do not trust these people with your money. Moreover, you do not want to invest in amateurs who do not know what they are doing. You can even tell that this company wants to provide education, but they do not know how to.

There is a hanging question on the website talking about business coaching. There is no answer to this question. We have no idea who this company is trying to fool.

In terms of the trading software, Squire FX provides a link to its supposed MT4 platform. However, the link takes us to a page with servers that do not belong to the company. In short, Squire FX does not have a real platform to execute trades. 

There is no point in investing in a forex broker with no platform to execute trades. Investing here will be like burning your money in a fire pit.

Squire FX Customer Support

Any legitimate company will always provide ample customer support to its clients. Customer support is an essential service in companies handling people’s funds. Interestingly, Squire FX did not care enough to provide various contact channels to reach the team.

There is only one way to get in touch with the company. Clients have to email the company at support@squirefx.com. There is no phone number or a live chat option. We all know that emails can go for days without a response. This is not what you when you have an emergency. Furthermore, this company does not have a social media presence.

Investment Plans and Trading Conditions

There are three main trading accounts to choose from on Squire FX. These include the Classic, ECN, and VIP accounts. All these accounts support different deposit ranges.

The Classic account accepts deposits between $1 and $500. This account gives clients maximum leverage of 1:400. The minimum order volume for this account is 0.01 lots. However, the company does not reveal the spreads for this account.

The second account is the ECN account. This accepts deposits between $500 and $10,000. The maximum leverage for this account is also 1:400. Additionally, the minimum order value stands at 0.01 lots. 

The final account is the VIP account. This accepts deposits that are above $10,000. Interestingly, the trading conditions for his account are the same as the other accounts.

Additionally, we find it unusual that the company does not reveal the spreads that clients enjoy in the market. Spreads tell clients the charges they will face in the market. No legitimate company would ever leave out such important information. Additionally, there is no point in investing such high amounts in a company that does not have a trading platform.

Founders and Physical Address

Unsurprisingly, Squire FX does not introduce us to any of the founders or team members. This is common in illegitimate companies. People running such companies hide their identities to ensure that the law does not track them down.

There are too many risks involved in investing in such companies. Having your money in the hands of mysterious people on the Intenet is a bad idea. They may decide to take off with your money, and you will no idea who to look for.

Moreover, it is impossible to track these people down. The company gives its address as Suite 305 Griffith Corporate CentercP.O.BOX 1510 Beach Mont, Kingstown ST. Vincent and the Grenadines. 

However, we can assure you that this address does not exist. St. Vincent and the Grenadines has very lax laws. This makes it easy for anyone to register and run a company in this jurisdiction. People do not even have to step foot in the country to do so. 

Consequently, most scam companies use this random address as their headquarters address. You will not find these people in this location when you visit it. Stay away from this company if you want some peace of mind.

Squire FX Regulation and Fund Safety

Squire FX is trying so hard to look like a regulated forex broker. However, we can assure you that this company does not have a license from any regulatory body. These people are running an illegal operation, but they do not care.

St. Vincent and the Grenadines does not have a reliable forex broker to keep companies in check. This is why it is a hotbed of scam operations. There are too many risks involved in investing in unregulated companies. It will almost end in you losing your funds. Remember that regulatory bodies are there to protect clients from scam operations.

Squire FX Review, Squire FX Features

They ensure that companies have segregated accounts in Tier-1 banks. This requirement ensures that client funds stay safe from the company’s and the bank’s financial status. Without regulation, this is not assured.

Consequently, no unregulated company can assure you of your funds’ safety. Moreover, there is no evidence of systems’ protection.  Hackers can easily access and steal your funds and sensitive data. There are too many ways to lose your funds with this company.

Final Verdict

Squire FX is clearly a scam forex broker. This company will not provide you with any forex brokerage services. These people are in the market to steal investors’ funds. Do not trust them with your money. No unregulated company can assure you of your funds’ safety.

Moreover, we have no idea who is behind this operation. The founders are operating under total anonymity. No legitimate company sees the need to hide the identities of the team members. Run from this company while you still can.

There are better companies that will offer you better services. The market’s top legitimate and regulated forex brokers will provide you with a safe trading environment without compromise. Moreover, they have been in the market longer, and they continue to prove to work.

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