Squared Financial Voluntarily Surrenders Cyprus Licence Amid Strategic Restructuring

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Squared Financial has formally given up its Cyprus Investment Firm licence, marking an exit from retail CFD operations in Europe as part of what the broker describes as a broader internal restructuring.

In a notice published on its website, the company said it has "formally initiated a strategic and voluntary renunciation" of its Cypriot licence, adding that the move is part of a wider "strategic transition." As a result, Squared Financial is no longer accepting new clients under the Cyprus licence and has begun winding down existing client relationships.

"All clients will be contacted directly with clear instructions regarding the closure of open positions and the return of any remaining funds," the broker stated.

Although the Cyprus Securities and Exchange Commission (CySEC) registry has yet to reflect the change, Squared Financial has held the licence since June 2017. The broker, which historically operated primarily from Cyprus, previously reached a settlement with CySEC over alleged shortcomings in the marketing, distribution, and sale of CFD products to retail clients, paying a €35,000 fine.

According to the company, the licence surrender is "part of a broader internal restructuring aimed at streamlining our regulatory framework and improving operational efficiency across our international group." Despite withdrawing from Cyprus, the Squared Financial brand will continue operating under a Seychelles licence.

The move places Squared Financial among a growing list of CFD brokers reducing or ending their regulatory footprint in Cyprus. Other firms, including BDSwiss, Exness, FXTM, IronFX, and RoboMarkets, have also scaled back or ceased onboarding retail clients under Cypriot regulation, with some shifting their focus to offshore markets. More recently, Doo Group has reportedly begun vacating its Limassol office as part of a similar pullback.