Scandinavian Capital Markets Review
Rana Adnan | March 23, 2021
Table of Contents
Operating from Stockholm, Sweden, Scandinavian Capital Markets is a premier STP-ECN forex broker that is built on extensive knowledge of the foreign exchange market, expertise in technology, and a commitment to creating long-term relationships with a global clientele. The broker allows clients to buy and sell forex, precious metals, and stocks, using a range of intuitive trading platforms, including MT4, cTrader, and Currenex trading platforms. The minimum deposit required to start trading is $10,000.
Broker Pros / Cons
- Choice of advanced trading platforms
- Educational resources & trading tools
- Multiple account options
- Various financial markets
- Minimum $10,000 deposit
- Not the lowest spreads
- Limited account deposit/withdrawal methods
- No USA traders
Summary
Launched in 2017, Scandinavian Capital Markets is Sweden’s first STP-ECN broker. They provide traders with various advanced platforms and some learning resources whilst offering a client support team to assist at any time of need. Other essential features of the broker include multiple account options, leverage of up to 1:100, low spreads, zero commissions, and more.
Regulation
The broker is a Registered Financial Institution with the Swedish Financial Supervisory Authority: Finansinspektionen Reg. No. 556863-5972.
Scandinavian Capital Markets does not accept clients from the U.S., Afghanistan, Burma, Burundi, Central African Republic, Egypt, Guinea, Guinea-Bissau, Iraq, Iran, Yemen, China, Congo, Cuba, Lebanon, Libya, Maldives, Mali, Moldova, Nicaragua, Nigeria, North Korea, Pakistan, Russia, Somalia, Sudan, South Sudan, Syria, Tunisia, Turkey, Venezuela, Belarus, and Zimbabwe.
Scandinavian Capital Markets may reject any applicant from any jurisdiction at their sole discretion without the requirement to explain the reason why
Platforms
The broker provides traders with a range of advanced trading platforms, such as these:
cTrader
This is an advanced trading platform that is loaded with many features to satisfy experienced traders. cTrader excels when it comes to calculating position size, but it also offers other features, such as multiple order types, detachable charts, full market execution, and more, which form an essential part of a professional trader’s toolbox.
MT4
This is a popular trading platform that is used by millions of forex and CFD traders across the globe. The platform is replete with all the tools a trader needs to trade successfully, and it supports the automation of trades using expert advisors. MT4 is available in desktop, web, and mobile versions.
Currenex
This is an award-winning institutional trading platform designed for professional traders trading Spot FX and Precious Metals. The platform is available as a desktop application for Windows computers.
Scandinavian Capital Markets Trading Platform
Tools
There are no standalone trading tools on the broker’s website at the moment. However, the provided trading platforms should have more than enough built-in tools to satisfy the needs of even the most demanding traders.
Education
The broker’s website contains some learning resources to help traders make informed trading decisions. The available educational materials include learning articles, trading guides, an FAQ section, and news that keeps traders up to date with the events that take place in the financial markets.
Markets
Scandinavian Capital markets offer the following trading instruments: forex, precious metals, and stocks.
Accounts
The broker offers a choice of three live trading account options to meet clients’ trading objectives. The account types and their corresponding minimum deposit requirements are as follows: Standard ($10,000), Premium ($25,000), Custom ($250,000) Accounts.
Scandinavian Capital Markets Account Types
Support
The broker’s client support team is always on hand to respond to traders’ general, technical, and account-based inquiries. They can be contacted via telephone, email, and social media.
Funding
At Scandinavian Capital Markets, all account deposit and withdrawal requests are processed using bank wire transfers.
Signup
To open an account, click on the “Open Account” button at the top right corner of the broker’s website and fill the account application form.
Scandinavian Capital Markets Account Opening Page
Compare
| Broker Features | AvaTrade | IG | IC Markets | |
|---|---|---|---|---|
| Founded | 2006 | 1974 | 2007 | |
| Regulated | ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA | FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF | ASIC, CySEC, FSA, SCB | |
| Country | Australia, Ireland, South Africa, Japan, British Virgin Islands | Australia, UK, USA, Switzerland, UAE, Singapore, Japan | Australia, Seychelles, Bahamas, Cyprus | |
| Min. Deposit | Min $250 Deposit | Min $100 Deposit | Min $200 Deposit | |
| Commission | From $0 | From $0 | From $0 | |
| Spreads | Fixed | Variable | Variable | |
| Leverage | 1:400 | 1:200 | 1:500 | |
| Instruments | Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs | Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs | Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs | |
| Platforms | MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile | MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile | MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile | |
| Type | Market Maker, STP | STP, ECN, DMA | ECN | |
| Funding | Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill | Wire Transfer, Credit/Debit Cards, PayPal | Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli | |
| Visit Broker | Visit Broker | Visit Broker | Visit Broker |
Conclusion
Scandinavian Capital Markets is an online retail broker that is based in Sweden. They offer access to multiple financial markets using various trading platforms whilst providing traders with a range of resources and competitive trading conditions to ensure a hitch-free trading process. The broker offers various trading account options to choose from, with a minimum deposit of $10,000.
Min $10,000 Deposit
Scandinavian Capital Markets is Sweden’s first STP-ECN broker. They provide traders with various advanced platforms to trade Forex & CFDs online.
About the Author
Rana Adnan
I am an introverted long-distance runner and a Forex trader with more than 7 years of experience. Reminiscences of a stock operator was the first book that changed the whole concept of trading for me.
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