Sucden Financial Review 2024
Website: www.sucdenfinancial.com
Min. Deposit: US$
Leverage: 1:30 | 1:100
Trading Platforms: API Solutions, STAR, TT, CQG, Patsystems, smartTrade, Integral, Currenex
Regulation: FCA, NFA, SFC
Headquarters: UK
Founded: 1973
Regulatory Licenses:
- Sucden Financial Limited - authorized by FCA (UK) registration no. 114239
- Sucden Futures Inc. - authorized by NFA (USA)
- Sucden Financial (HK) Limited - authorized by SFC (Hong Kong)
Updated on January 18, 2024
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Sucden Financial stands as a prominent institutional non-bank Forex trading provider, boasting over 50 years of experience within the finance sector from its London base. The brokerage serves financial institutions, corporations, and brokers, offering access to an extensive array of trading options including Forex, Metals, Energies, Soft Commodities, Agricultures, Futures, Options, and more. Our analysis of Sucden Financial's offerings is thorough, drawing comparisons with over 1000 brokers to ensure a comprehensive and reliable review.
Sucden Financial Pros and Cons ▲
Pros
Sucden Financial is acknowledged as a dependable ECN broker, showcasing integrity and reliability through its wideranging trading instruments and truly allencompassing proposals.
Cons
The broker's services are tailored towards experienced traders, institutions, and professionals, which might not align with the needs of beginners.
Sucden Financial’s website lacks an educational section, potentially leaving newcomers in the dark.
Customer support is not available 24/7, which could be inconvenient for traders in different time zones.
Is Sucden Financial Safe or a Scam? ▲
No, Sucden Financial is not a scam. A significant aspect of choosing a broker involves verifying its regulatory status to determine trustworthiness. Reputable brokers are typically overseen by industry authorities in respected jurisdictions that impose stringent licensing conditions. Fortuitously, Sucden Financial is a regulated entity, established since 1973 and has consistently demonstrated its reliability. It is authorized by the UK's Financial Conduct Authority (FCA), a regulatory body known for its rigorous oversight of licensed firms, thereby ensuring integrity in their offerings and safeguarding clients.
Sucden Financial Review Summary in 10 Points ▲
Headquarters: UK
Regulation: FCA, NFA, SFC
Instruments: Forex, Precious metals, Equities, Bullion and Futures, Commodities
Platforms: API Solutions, STAR, TT, CQG, Patsystems, smartTrade, Integral, Currenex
EUR/USD Spread: 1 pip
Minimum deposit: $0
Demo Account: Provided
Base currencies: EUR, USD, GBP
Education: Limited
Customer Support: 24/5
Overall Sucden Financial Ranking ▲
Sucden Financial receives a favorable evaluation from us, attributed to its adherence to regulatory standards, a diverse portfolio of trading products, robust and secure trading platforms, and competitive pricing for corporate trading services. Our comprehensive testing and comparison with over 1000 brokers have resulted in Sucden Financial achieving an Overall Ranking of 8.9 out of 5.0.
As a broker regulated in the UK, Sucden Financial conducts its operations with high regard for client welfare, adhering to stringent rules regarding money handling, segregation, and protective measures to foster a secure and reliable trading environment. Should Sucden Financial, or any other FCA-regulated firm, breach any regulations, the FCA is prompt to take action, which can include license revocation and operational bans - a repercussion not applicable to offshore or unregulated entities, no matter how enticing their trading propositions may appear.
Leverage is a critical aspect of forex trading, offering traders the ability to control a large position with a relatively small amount of capital. It's essential for traders to understand the leverage options available to them, as it can significantly impact their trading strategy and potential returns. Different brokers offer varying levels of leverage, and it's crucial to choose one that aligns with your trading style and risk tolerance.
Trading fees are an inevitable part of forex trading, and they can vary widely among brokers. Understanding the structure of these fees is crucial for traders to make informed decisions and manage their trading costs effectively.
Pros
Offers flexibility in fee structure
Tailored solutions cater to individual trader needs
Cons
Fees are ranked average compared to other brokers
Sucden Financial's fee system is designed to accommodate the varying needs of its clients, offering flexibility whether you're looking for a commission-based or spread-based fee structure. Thanks to its solid financial foundation and direct banking relationships, Sucden Financial can aggregate superior FX liquidity from an array of market participants. This capability allows the broker to provide 100% customized solutions for its clients, ensuring that each trader can optimize their strategy according to their specific requirements.
However, when compared to a broad spectrum of over 1000 brokers, Sucden Financial's fees receive an average score of 3.9 out of 5. This rating indicates that while the broker offers competitive and flexible fee options, there may be other brokers available that offer lower costs or more beneficial fee structures for certain traders. It's important for potential clients to thoroughly compare fees among various brokers to find the best fit for their trading strategy and budget.
After conducting a comprehensive evaluation, we observed that this broker delivers competitive pricing with both tight and floating spreads derived from interbank sources. The average spread for the highly traded EUR/USD currency pair in the Forex market hovers around 1 pip.
It's crucial to note that trading conditions, including spreads, may vary depending on the specific entity. It's advisable to thoroughly understand the spread conditions provided by the brokerage and how they align with your individual trading strategies.
In our comparative analysis against 1000 brokers, we rated the spreads offered by this firm as average, scoring an overall rating of 3.9 out of 5. Our findings indicated that the Forex spread is marginally below the industry benchmark of 1.2 pips, and spreads for other financial instruments are also competitive.
Our findings indicate that this broker primarily facilitates transactions through Bank Wire Transfers, known for their efficiency and superior control over transfers. However, it's important to be aware that certain funding methods might come with specific requirements or restrictions depending on the client's bank or other financial institutions involved.
We evaluated the broker's funding methods as good, assigning an overall rating of 3.5 out of 5. The fees are low, and traders can also benefit from a variety of account-based currencies.
Pros
No minimum deposit requirement enables traders to start trading with any amount of funds
Cons
Predominant reliance on Bank Wire Transfers which might not suit all traders
To withdraw funds from your trading account, the brokerage outlines a series of steps:
Log in to your account
Select 'Withdraw Funds' from the menu tab
Enter the withdrawal amount
Choose the withdrawal method
Complete the electronic request with necessary requirements
Confirm withdrawal information and submit
Check the current status of withdrawal through your Dashboard
Upon reviewing the trading software and solutions, it's clear that the broker provides access to a comprehensive array of instruments and platforms, including API Solutions, STAR, TT, CQG, Patsystems, smartTrade, Integral, and Currenex platform.
Based on our comparative analysis against 1000 other brokers, we rated the trading platform as good, with an overall score of 4.0 out of 5. The rating reflects the broker's provision of appropriate technology solutions to its clientele.
In summary, this broker offers a broad spectrum of services tailored to meet the requirements of institutional and corporate traders. With direct electronic access to global markets, competitive spreads, and a robust financial standing, the broker establishes competitive trading conditions.
As an ECN broker, the firm is synonymous with reliability through its access to a wide range of trading instruments and comprehensive offerings in trading and investment technology.
While the broker ensures secure and competitive trading terms, we advise conducting thorough research to confirm its suitability for your specific trading needs. Traders should consider the broker’s regulatory compliance, fees, spreads, and customer reviews before reaching a decision.
Based on our evaluations and expert opinions, this broker is recommended for:
Traders from the UK
Professional traders
Institutional trading
US clients
Currency trading
Traders from Hong Kong
ECN/DMA execution
Access to futures trading
Competitive pricing
Excellent trading tools
