Scandinavian Capital Markets
- Types of accounts
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Scandinavian Capital Markets is an ECN broker that uses the STP execution model and provides a reliable trading environment in the Swedish market thanks to its headquarters in Stockholm and beyond.
The broker has been operating since 2011 and offers access to the Forex exchange and more than 40 currency pairs with the ability to connect via Equinix NY4 Center, which creates a powerful global infrastructure.
Regulation Of Scandinavian Capital Markets
Scandinavian Capital Markets, as a Swedish financial investment company, applies all necessary legal procedures to ensure safe trading conditions. The Body that controls and regulates trading firms in Sweden is the Swedish financial supervision authority or Finansinspektionen. The broker Scandinavian Capital Markets is authorized in Finansinspektionen, and fully complies with European ESMA standards and the MiFID Directive.
Thus, when trading or investing in Scandinavian Capital Markets, guarantees of transparency of transactions are applied, in which there is no conflict of interest between the broker and traders, and clients ' money is stored in separate accounts.
As a European broker, Scandinavian Capital Markets is subject to ESMA's regulatory restrictions, which have recently significantly reduced leverage levels. While retail traders can access up to 1:30 leverage for major currency pairs, professional traders can use 1:100 leverage after confirming their status.
Trading accounts of Scandinavian Capital Markets
Scandinavian Capital Markets provides traders with three types of accounts, all with fairly competitive low costs based on spread and commissions:
- Standard. ECN account, minimum Deposit from$ 10,000, spread from 1.7 pips, Commission – $ 0 per lot.
- Premium. ECN account, minimum Deposit from$ 25,000, spread from 0 points, Commission – $ 10 per lot.
- Custom. ECN account, minimum Deposit from$ 250,000, individual spreads and commissions.
Islamic traders can open an account without swaps, more commonly known as an Islamic account.
Who can't open an account with Scandinavian Capital Markets?
The broker offers its services to residents of all countries except the United States, Iran, Syria, North Korea, Yemen, and Cuba.
Scandinavian Capital Markets as an ECN broker provides high liquidity for both institutional and professional or retail traders. As for the choice of trading platforms themselves, you can choose between the proven cTrader, Currenex and MetaTrader 4 software.
It is also important to note that Scandinavian Capital Markets provides access to automated trading and API communication with the Myfxbook tool. Another important part of the Scandinavian Capital Markets offer is a solution for managing traders through MAM accounts.
At Scandinavian Capital Markets, you can only top up your account via Bank transfer, which may seem like a limitation, but is the safest way to send money.
The minimum Deposit that will allow you to open an account with Scandinavian Capital Markets is $ 10,000, while a higher-level account will require larger amounts. This amount may not be available for novice traders, but given the broker's trading offer, Scandinavian Capital Markets is still a good oneim an option for active traders.
The Commission for removal
As for money transfer fees, Scandinavian Capital Markets processes requests quickly and usually does not charge any additional fees for both deposits and withdrawals.
In General, Scandinavian Capital Markets is a broker that not only offers high-quality trading services, but also fully complies with laws and regulations. Simply put, this means that the broker is safe due to its principles and constant monitoring by financial authorities.
As for trading conditions, Scandinavian Capital Markets may be a good option for experienced traders, but it is unlikely to be suitable for beginners due to the rather high minimum Deposit. In addition, the broker's trading solution defines complex platforms and tools that are also more suitable for professional trading.
However, along with training materials from Scandinavian Capital Markets, you can log in to further develop your trading strategy.
And, of course, we would be happy to know your personal opinion about the broker. You can also read the reviews of Scandinavian Capital Markets and see the rating of Forex brokers to make the right decision.
- The year of Foundation 2011
- Head office address Kistagangen 16 164 40 Kista Stockholm, Sweden
- Maximum leverage
- Min. Deposit $
- Regulation MiFID
- Trading platform
- Payment system to enter Bank Transfers
- Payment system for withdrawal Bank Transfers
- Number of trading instruments 44
- The number of metals 2