The square canopy (or the ram-air canopy) can indeed be slowed down. It's also a lot more manoeuvrable, and can go quite fast. A novice might not be able to correctly judge the speed/altitude/wind direction - and if not handled properly, a square canopy can land you on your face or break a leg.
[1] - https://en.wikipedia.org/wiki/Parachute_landing_fall
EDIT: spelling and added a link