Sucden Financial Minimum Deposit

 

A Sucden Financial Minimum Deposit review

 

Sucden Financial Minimum Deposit

 

The Sucden Financial minimum deposit amount that Sucden Financial requires is not specified

When depositing funds, traders need to ensure that they keep up to date with the exchange rate depending on their local currency and the base currency of the account, should they have to convert their local currency according to that of the account.

 

The deposit currencies supported are not indicated, but it is safe to assume that USD, EUR, and GBP will be one of the currencies supported as Sucden Financial is a UK-based broker, and therefore guidance with regards to the conversion are as follows:

  • 1 USD is equivalent to ZAR61
  • 1 EUR is equivalent to ZAR21
  • 1 GBP is equivalent to ZAR43

 

Traders should now that these conversions were done at the current exchange rate between USD, EUR, and GBP, and the South African Rand on the day and at the time that this article was written.

Sucden Financial is a UK-based broker and is authorized and regulated by one of the strictest and most demanding regulating entities namely FCA, NFA and SFC, and as a regulated broker, one of the requirements is that client funds be kept in segregated accounts.

In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.

In addition to ensuring client fund security through segregated accounts, regulated brokers such as Sucden Financial are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.

 

Deposit fees and deposit methods

 

Sucden Financial does not charge any fees when deposits are made into the trader’s account. Traders can make use of Bank Wire Transfer when funding their trading account.

 

Sucden Financial does not indicate the supported deposit currencies in which traders can fund their accounts, but it is safe to assume that the following currencies will be supported as they form part of major deposit currencies provided by the majority of brokers:

  • USD
  • GBP, and
  • EUR

 

Step by step guide to deposit the minimum amount

 

Sucden Financial does not indicate the way in which deposits can be made into the trading account and traders who are interested in registering an account with Sucden Financial will have to contact the broker to verify the steps to follow in order to make deposits.

The only information pertaining to deposits indicated is that Bank Wire Transfer is the supported payment method through which deposits and withdrawals can be made.

 

 

Pros and Cons

 

PROS CONS
1.      Deposit fees are not charged 1.      None noted
2.      Quick and easy depositing of funds
3.      Low minimum deposit amount
4.      Wide variety of payment methods offered
5.      Wide variety of deposit currencies supported

 

FAQ

 

What is the minimum deposit for Sucden Financial?

Not specified

 

How do I make a deposit and withdrawal with Sucden Financial?

You can make use of Bank Wire Transfer.

 

Does Sucden Financial charge withdrawal fees?

No.

 

How long does it take to make a withdrawal?

Withdrawals made by using Bank Wire Transfer typically take between two to several days depending on when the request was made and processed. Requests made over weekends may only be processed during the next business day.