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Squire’s Finance Limited Review | The Best Trading Conditions or a SCAM?

by Kevin Berry
Rating: 
  1.1/5   Reviews: 3
Squire's Finance Limited - logo

Squire’s Finance Limited presents itself as a British company providing brokerage services in the financial markets. They attempt to convince traders of their team’s extensive experience, the best trading conditions, maximum comfort, and the safety of trading and non-trading operations. In our opinion, such claims are worthless, and we see yet another scam intending to swindle as much money as possible from unsuspecting users. We can support our viewpoint with publicly available information and reviews from those who have already dealt with this company.

Highlights

🏛️ Country UK
⚠️ Regulation
🖥️ Website https://www.squiresfinanceltd.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit €250
⚖️ Minimum and Maximum Leverage 1:200 – 1:1000
⚙️ Trading Platform WebTrader
📨 E-mail support@squiresfinancelimited.net
📞 Phone +442080977710

First Impression of Squiresfinanceltd.com

The official website of Squire’s Finance Limited can hardly be considered a comprehensive information resource of a reputable broker. Upon exploring it, one gets the impression that the content creators had to extract useful information drop by drop. All they managed to do was publish data about the types of accounts and the company’s contact details. Other details that traders would like to see, such as contract specifications, comprehensive information about the team and project history, including registration and licenses, and the broker’s financial statements, were not provided by the creators of Squire’s Finance Limited.

Squire's Finance Limited - website

Partnership and Bonuses

On the main page, Squire’s Finance Limited couldn’t resist displaying information about bonuses starting from the second deposit. By the way, this contradicts the regulations of the British financial market regulator.

partnership

 

Squire’s Finance Limited also offers an affiliate program where you can become a representative or affiliate of the company. Unfortunately, the size of the rewards is not specified. However, even more disappointing is the fact that in the section describing the partner program, another broker – Medco Finance – is mentioned instead of Squire’s Finance Limited. By the way, Medco Finance is also a scam. At this point, our review could have ended, but we will continue.

Account Opening on Squiresfinanceltd.com

The simplified registration process for new clients of Squire’s Finance Limited also does not comply with strict rules. It is enough to say that the “broker” does not verify the contact information entered in the form fields.

Register

Instead, immediately upon completing the process, the user gains access to the Personal Cabinet. Moreover, all its functions – starting trading, depositing funds, viewing the history of trading and non-trading operations – become available even without filling out the profile and verifying the provided information.

Squire's Finance Limited - Client Portal

Verification

Squire’s Finance Limited follows a standard verification process. This involves requesting identification documents, such as a valid passport or driver’s license, as well as proof of address, like a utility bill or bank statement. Next, the broker will review these documents and verify your account.

Pros
  • A convenient form for document uploading.
Cons
  • It is not specified how long Squire’s Finance Limited will check your documents.

Trading Software

Squire’s Finance Limited fails to meet expectations on multiple fronts. The platform lacks crucial functionalities, resulting in a below-average user experience. Moreover, the availability of educational resources is limited, and disappointingly, there is a notable absence of a demo account for users to familiarize themselves with trading.

Features Squire’s Finance Limited General Trust Group  Modus UK Limited
Demo Account ❌️ ❌️ ❌️
Mobile App ❌️ ❌️ ❌️
Own Development ❌️ ❌️ ❌️

How Can I Trade With Squire’s Finance Limited?

We are intrigued by the unique trading opportunities provided to individual investors by Squire’s Finance Limited.

All Info About Accounts

The broker offers a selection of five different account types, each characterized by varying minimum deposit requirements and specific trading conditions, such as leverage ratios. For instance, the Test account necessitates a minimum deposit of 250 euros and exclusively enables trading in currency pairs. Moving up to the Novice account, which mandates a deposit of 2,000 euros, traders gain access not only to currency pairs but also to indices. Additionally, the Novice account offers an increased leverage ratio of up to 1:300. It is worth noting that the subsequent account, Standard, demands a significantly higher deposit of 50,000 euros, deviating from industry norms. As an added benefit, traders with a Standard account are granted the ability to trade commodities.

The Corporate and VIP accounts require deposits of 150,000 euros, providing access to all available assets and substantially higher leverage ratios of 1:500 and 1:1000, respectively. It is quite noteworthy that Squire’s Finance Limited has established such elevated minimum deposit requirements for these accounts.

Pros
  • Low minimum deposit.
Cons
  • Huge leverage.

Market Analysis and Education With Squiresfinnceltd.com

Squire’s Finance Limited offers a wide range of additional services, including educational resources, seminars, webinars, trading signals, and manager assistance, among others. However, it is concerning that all these services are provided by completely anonymous individuals.

When anonymous individuals are responsible for delivering these services, it becomes difficult to verify their expertise, qualifications, and credibility. Traders need to have confidence in the knowledge and guidance they receive, especially when it comes to financial matters. Without proper identification and background information, it is challenging to establish trust.

Deposit, Withdrawal, and Fees

Squire’s Finance Limited presents users with a variety of options for depositing and withdrawing funds, such as credit and debit cards, P2P transfers, cryptocurrencies, and bank transfers. Regrettably, the broker neglects to disclose important details concerning fees and processing durations. This lack of transparency leaves users uninformed about the potential costs they may incur and uncertain about how long it will take for their transactions to be processed.

Features Squire’s Finance Limited WiseCryptoCapital  Virgobanc
Debit/Credit Cards ✔️ ✔️
Electronic Payments
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee ✔️

How Can I Contact It?

Squire’s Finance Limited provides various means of contact, such as phone and email. Additionally, they display an address on their website. However, it is important to note that this address is not associated with an actual office or staff members.

Pros
  • Full contacts.
Cons
  • Fake address.

Is Squire’s Finance Limited Dangerous?

We have formed an opinion about the broker’s operations, which seem to circumvent all laws and regulations. We will search for additional evidence to support our perspective.

How Long Does The Broker Work?

One argument that indicates the fraudulent nature of Squire’s Finance Limited is the registration date of their domain. According to the whois service, at the time of writing this review, the domain is less than a month old, having been registered on April 24, 2023. It is quite amusing to think that a broker claiming to have been operating since 1986 would only acquire a domain in 2023.

Squire's Finance Limited - domain info

How Is Squire’s Finance Limited Regulated?

Despite this, Squire’s Finance Limited decided to include registration information (UK registry number) in the website’s footer. Naturally, we verified this information and found that the company does indeed exist, with its registered name matching the one displayed on the “broker’s” website (a rarity among scam projects).

Having almost 37 years of experience would typically garner respect, and a Forex and CFD broker with such a track record could be considered one of the oldest in the world. However, this is irrelevant to the subject of our review. By examining certain details about the company’s operations, we can draw some conclusions:

  1. Squire’s Finance Limited falls under the category of micro-companies (employing fewer than 10 people or having the capital of less than 2 million pounds).
  2. According to their financial report for 2022, the average number of employees was 1 person.
  3. The total assets at the end of 2022 amounted to 61.99 thousand pounds, with a maximum of 81.85 thousand pounds in 2021.

All of this demonstrates a complete mismatch with the claims of being a successful broker. Consequently, we can conclude that Squire’s Finance Limited is the name of an actual existing company being exploited by scammers to give their activities a facade of legitimacy. In reality, they are not even registered.

Interestingly, Squire’s Finance Limited holds a license from the Financial Conduct Authority (FCA) in the UK. However, the “broker” does not mention this license, which is understandable since the authorized activities permitted by the license have nothing to do with providing brokerage services in any financial markets. Squire’s Finance Limited is not authorized to accept or hold client funds. Its permitted activities are related to insurance (investment advice, arranging investment deals, and facilitating money transfers for these purposes) and consumer credit (credit brokerage functions).

no license

Features Squire’s Finance Limited Sollari Tradercr
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With Squire's Finance Limited?

To trade with Squire's Finance Limited, you would typically need to register an account on their platform. Besides, you also need to complete a verification process to confirm your identity. Once your account is set up and verified, you can proceed to fund your trading account.

Is Squire's Finance Limited Legit?

No, Squire's Finance Limited is not a legitimate broker. It is operating under false pretenses, impersonating another legal entity. The information and claims presented by this broker are deceptive, aiming to mislead individuals into believing they are dealing with a reputable and trustworthy company.

How Risky Is It?

Engaging with Squire's Finance Limited poses a significant risk. The company is operating a scam, presenting itself as a legitimate broker while deceiving individuals into depositing funds.
Kevin Berry
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Expert Opinion

Well, well, well, it seems like Squire’s Finance Limited has come up with a rather creative way of handling fund transfers. They’ve decided to turn the tables and make their clients do the work! Instead of providing their own bank details, they ask you to play a little game of “Guess the Requisites.” It’s like a financial version of charades!
But hold on a minute. Don’t get too excited thinking you’ve won the jackpot. Pressing that “Submit” button won’t magically make your funds appear in the blink of an eye. No, no, no. You’ll have to sit back, relax, and wait for a representative of this so-called “company” to grace you with their presence. It’s like waiting for a late-night pizza delivery, but without the cheesy goodness.
All jokes aside, this unconventional approach raises some serious red flags. It’s a bit fishy, to say the least. So, my advice? Proceed with caution and keep your personal information close to your chest. After all, it’s better to be safe than sorry, especially when it comes to your cash.

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Squire's Finance Limited rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about Squire's Finance Limited

Gustavo June 17, 2023 - 21:28
This is outrageous!
The level of trust

From the initial investment of $5,000, nearly 50% has already been lost within just a couple of weeks. And the account balance continues to diminish. Moreover, it’s not only happening to one person but to many other clients of Squire’s Finance Limited as well. It feels like no trading strategy works on this platform.

Reply
Jeren September 27, 2023 - 14:31
I'm puzzled
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Why would Squire’s Finance Limited increase the available leverage as the deposit grows? Most reputable brokers tend to decrease leverage. Even affluent clients are not inclined to engage in high-risk trades with astronomical sums. Another point worth noting is the limitations on the selection of tradable assets. It is very odd for Squire’s Finance Limited to impose such restrictions. It seems like a shady company. I would give them a very low rating, perhaps 1 out of 5.

Reply
Manon October 26, 2023 - 15:41
UK address provided by Squire's Finance Limited is fake, and the company had been blacklisted by regulatory authorities.
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I want to share my experience with Squire’s Finance Limited, a financial firm I joined a few months ago. Initially, I invested 25,000 euros with them, and after doubling my money, I decided to add another 40,000 euros to my investment. It all seemed promising, and my investment officer, Tyler Cameron, was actively assisting me with making trades.

For a while, things appeared to be going well, and our investments managed to accumulate over 150,000 euros in profits. However, my experience took a drastic turn when I decided to request a withdrawal. To my surprise, it has been over two weeks, and my request remains unapproved.

I reached out to the company for an explanation, and what I was told left me deeply concerned. They informed me that, as per their company policy, I would need to deposit an additional 22,000 euros upfront to cover a 13% withholding tax. This demand raised numerous red flags, and I began to question the legitimacy of the entire operation.

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