Scandinavian Capital Markets is a pure ECN broker which uses STP model of execution and delivers its reliable trading environment to the Swedish market, due to its headquarter in Stockholm and beyond.
The broker is operating since 2011 and is a Prime Broker with custom liquidity feeds, tailored pricing and general flexibility over the trading process. Scandinavian Capital Markets offers access to Forex exchange and over 50 currency pairs with connectivity through Equinix NY4 Center resulting in its powerful global infrastructure.
10 Points Summary
Access to Forex exchange and over 50 currency pairs
Currenex, cTrader, MT4
💳 Minimum deposit
💰 EUR/USD Spread
💰 Base currencies
USD, GBP, EUR, SEK
🎮 Demo Account
Daily news, regular webinar
☎ Customer Support
Although we will get to Scandinavian Capital Markets trading conditions and software in detail further, also broker provides necessary data required for trading success. These cover daily news, regular webinars and highly responsive customer support, which Scandinavian Markets is quite regarded of.
Is Scandinavian Capital Markets safe or a scam?
Eventually, the most important is the regulatory or legal status of the broker which shows a clear record, as well as confirms its governing environment in reverse bringing you safe investment conditions. Scandinavian Capital Markets as a Sweden financial investment company operating from Stockholm also apply all the necessary legal procedures towards its secure trading conditions.
The authority which oversees and regulates trading firms in Sweden is the Swedish Financial Supervisory Authority or Finansinspektionen. So Scandinavian Capital Markets is also respectively registered according to mentioned conditions, also fully compliant to European ESMA regulation and MiFID directive.
Therefore, trading or investing with Scandinavian Capital Markets there are applied guarantees on transaction transparency where no conflicts of interests appear due to its technological basis. Also together with its authorized status, there are numerous rules applied towards how the client is treated, his money operated and kept, which is never a case of an offshore firm.
Besides European regulation provides cross boarding regulated status and participate broker into a compensation scheme in case of its insolvency.
Scandinavian Capital Markets trading technology shows unparalleled and powerful performance accompanied with a great choice of foreign exchange platforms. The technology basis provides customized liquidity for both institutional, professional or retails trades with the ability to tailor a solution and define its flexibility.
As for the option of the trading platforms themselves, you are able to select between proven software cTrader, Currenex and an industry-standard MT4.
Each platform utilize intelligent trading technology and is a full-featured software with risk management, trade activities and full settlement packages included.
So it is solely based on your preference and personal choice which platform to use with no restrictions and hedging allowance. Also, important to note Scandinavian Capital Markets gives access to auto-trading and API connectivity with Myfxbook tool through seamless replication of the positions.
Another important part of the Scandinavian Capital Markets offering is a solution for money managers through MAM accounts and offering specified for institutional traders.
Scandinavian Capital Markets provides traders with a range of prime account packages defined by the operated trading size, eventually offering better conditions for higher grade traders. Therefore, there are three account types all featured with quite competitive low costs based on a raw spread and commission charges. Yet, Standard account offers you conditions with all costs built into a spread.
Scandinavian Capital Markets spreads obviously vary according to the account type you use. Standard account spreads starting from 1.7 pips, while Premium account is based on a raw interbank spread with a commission charge of 10$ per lot for MT4 platform and 100$ per million traded through cTrader.
Lastly, Custom account for institutions or bug size traders will define 100% custom conditions for those who maintain 250+$ as a start amount. Also, you may compare fees to another popular broker RoboForex so that the conditions will be more clear according to your particular need.
It is a fact the beginning either sophisticated professional will find correct conditions to apply for with Scandinavian Markets, along with Islamic traders who are able to open swap-free account more known as Islamic account.
Being a European Broker, Scandinavian Capital markets therefore obliges to its regulatory restrictions, which also recently significantly lowered possible leverage levels due to risks involved. While retail traders may access a maximum of 1:30 for major currency pairs and even lower for other instruments, while professionals, once the status is confirmed, may use the leverage of 1:100.
Deposits and Withdrawals
The last point of our Scandinavian Capital Markets Review is funding methods or how to send money to or from your trading account. Eventually, Scandinavian Capital Markets uses only deposit via Bank wire which may seem like a limitation, yet is the most reasonable and safe to send money.
The very minimum that will allow you to open an account with Scandinavian Capital Markets is 10k$, while higher grade account will demand bigger amounts. Actually, this amount might be unaffordable for beginning traders, yet considering Scandinavian Capital Markets trading offering and professional nature the broker still is a good option for active traders.
As for the fees for money transfers, Scandinavian Capital Markets process requests quickly and professionally whole also typically does not wave any additional commissions for both deposits or withdrawals. Yet, your bank or particular jurisdiction conditions may submit some fees to your side which of course are solely yours.
Overall, Scandinavian Capital Markets Review concludes to us a broker that strives not to only provide quality trading service, but also fully compliant to necessary laws and regulations. In simple words it means, the broker is a safe one due to its obligatory conditions and constant overseeing of its business.
As for the trading conditions and offering itself, Scandinavian Capital Markets might be a good option for either seasoned traders or active ones due to quite a high minimum deposit. In addition, the brokers’ trading solution defines sophisticated platforms and tools, also more necessary and suitable for professional or high level trading required for fund managers or institutions.
Yet, together with its learning materials from Scandinavian Capital Markets you may sign in for further development of the trading strategy you deploy.
And of course, we would be glad to know your personal opinion about Scandinavian Capital Markets, share your experience or refer to us for some additional information.
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