I always recommend something with Fender-style configuration (PU's/parts/neck joint), as that allows you to easily replace or upgrade things as desired.
There is nothing wrong with the Squiers, though I have heard some say the quality is inconsistent, but this is likely to be a problem with many inexpensive instruments. In general, I have found that (regardless of quality level) basses vary more from one to the next than electric guitars do. If buying from a brick and mortar store, you will want to compare carefully to find the best one you can.
Personally I don't like Ibanez basses, but only because Ibanez tends to put skinny little necks on most of their instruments and I decidedly prefer chunkier necks, but YMMV. I also don't like "low" action and one of the first things I end up doing when buying a new bass is raising the action, but other people will obviously differ on this.
Overall, there's no reason you can't get decent results with a reasonable quality inexpensive bass. IMHO if you have a decent instrument, practice will probably make a much bigger difference in the results than spending 3 times as much on the instrument would.