Scandinavian Capital Markets Broker Review 2024

Scandinavian Capital Markets is one of Sweden's oldest brokerages, established in 2011, and Scandinavian Capital Markets is one of Sweden's oldest brokerages, established in 2011, and users trade more than 40 billion dollars annually in it.

More than 3 thousand people are actively using Scandinavian Capital Markets Broker services, and you can be one of them. But wait before any action, and don't miss the “Scandinavian Capital Markets Review” article to familiarize yourself with this broker.

Scandinavian Capital Markets Introduction and Regulation

Scandinavian Capital Markets, established in 2011, is a Swedish-based forex and CFD broker that has quickly gained recognition in the financial trading community. The company prides itself on its Scandinavian heritage, emphasizing transparency, security, and ethical business practices. Key points about Scandinavian Capital Markets:

• Regulated by Sweden's Finansinspektionen (FI), the country's financial supervisory authority;

• Regulated by Vanuatu Financial Services Commission (VFSC) with 700472 license number;
• Adheres to strict EU financial regulations and directives;
• Implements robust KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures;
• Provides a secure trading environment with segregated client funds.

The regulation by Finansinspektionen ensures that Scandinavian Capital Markets operates under stringent guidelines, offering traders a high level of protection and peace of mind.

Table of Specifications

This table provides a quick overview of Scandinavian Capital Markets' key offerings and specifications, highlighting its competitive edge in the forex market. SCM Specifications:

What Are Scandinavian Capital Markets Account Types?

Scandinavian Capital Markets offers three distinct account types which has various features. Scandinavian Capital Markets Broker Account Types:

Each account type is designed to provide traders with the tools and conditions they need to succeed, regardless of their trading style or experience level.

Scandinavian Capital Markets Sign Up Guide; How to Do it in 6 Minutes?

Opening an account with Scandinavian Capital Markets is easy, reflecting the broker's commitment to efficiency and user-friendliness. SCM Sign Up:

1. Visit the official Scandinavian Capital Markets website and click on the "Get Staretd" button.
2. Fill out the online application form with your personal information, including full name, email addrees and password.
3. Submit the required KYC documents including Valid government-issued photo ID (passport or driver's license) and Proof of residence (utility bill or bank statement, not older than 3 months)
4. Wait for verification approval and choose your preferred account type (Free Forever, Growth, or Institutional).
5. Once approved, fund your account using one of the available payment methods.
6. Start trading on your chosen platform!

Scandinavian Capital Markets takes KYC and AML regulations seriously, ensuring a secure trading environment for all clients.

Trading Platforms

Scandinavian Capital Markets offers a diverse range of trading platforms to suit different trading styles and preferences:

MetaTrader 4 (MT4)

• Industry-standard platform with a user-friendly interface;
• Advanced charting tools and technical indicators;
• Supports Expert Advisors (EAs) for automated trading;
• Available for desktop, web, and mobile devices.

MetaTrader 5 (MT5)

• Next-generation platform with enhanced features;
• Multi-asset trading capabilities;
• Advanced Market Depth and economic calendar;
• Improved backtesting and strategy optimization tools.

cTrader

• Modern, intuitive platform designed for ECN trading;
• Customizable interface and advanced charting;
• Supports algorithmic trading with cBots;
• Level II pricing and one-click trading.

FIX API

• Direct market access for institutional clients and high-frequency traders;
• Low-latency execution and custom solutions;
• Ideal for those requiring advanced integration and automation.

Scandinavian Capital Markets Fee Structure

Scandinavian Capital Markets adopts a transparent and competitive fee structure; SCM Commission and Fees:

• Spreads: Raw spreads starting from 0.0 pips;
• Commissions: $0 on Free forever account, $4 on Growth account and custom on Institutional;
• Swaps: Overnight fees apply for positions held beyond the daily cut-off time;
• Deposit Fees: No fees for deposits;
• Withdrawal Fees: Generally free, but a $25 fee may apply for small withdrawals or inactive accounts.
• Inactivity Fee: €20 per month after 12 months of no trading activity

The broker's fee structure is designed to be competitive, especially for high-volume traders.

What Payment Methods Are Available in Scandinavian Capital Markets?

Scandinavian Capital Markets offers a variety of payment methods to accommodate different client preferences:

• Bank Wire Transfer: Secure and suitable for large deposits;
• Credit/Debit Cards: Visa, Mastercard, American Express;
• E-wallets: Skrill;
• Cryptocurrencies: USDT (Tether), USDC (USD Coin).

What Investment Plans Are Offered by SCM?

Scandinavian Capital Markets has integrated the cTrader Copy social trading platform, offering clients the opportunity to do copy trading in its “FXCopy” service; FXCopy Features:

• FXCopy allows investors to replicate the trades of successful traders
• Precise equity-to-equity copying ensures accurate position sizing
• Transparent performance metrics help in selecting suitable strategy providers
• Ideal for novice traders or those looking to diversify their trading approach
• Strategy providers can earn additional income by sharing their expertise

The copy trading feature can be seen as a way for traders to potentially grow their accounts by leveraging the skills of experienced traders.

Bonus and Promotional Plans

While Scandinavian Capital Markets doesn't offer traditional trading bonuses, they do have an attractive affiliate program:

• Affiliates can earn up to 20% of the revenue generated from their referrals;
• Transparent tracking and reporting system;
• Regular payouts and dedicated affiliate support;
• Opportunity for ongoing passive income.

The focus on an affiliate program rather than trading bonuses aligns with the broker's commitment to transparency and fairness in trading conditions.

Scandinavian Capital Markets Customer Support

Scandinavian Capital Markets offers 24/5 support through multiple channels for customer support:

• Email: support@scandinavianmarkets.com
• Phone Call: +46 8 525 160 29
• Live Chat: Available on the website during business hours
• Indoor Meeting: Possible for institutional clients (by appointment)
• FAQ Section: Comprehensive resource for common queries

The support team is available 24/5, providing assistance in multiple languages. The broker prides itself on responsive and knowledgeable customer service, reflecting its commitment to client satisfaction.

Scandinavian Capital Markets Broker User

In Scandinavian Capital Markets Review we discovered that User satisfaction for Scandinavian Capital Markets in Trustpilot is generally positive; SCM Trust Scores:

• TrustPilot: 4.7/5 stars based on 50+ reviews;
• ForexPeaceArmy: 2/5 from just 2 reviews.

Trading Finder Expert Conclusion and Final Words

Scandinavian Capital Markets is a Swedish broker that combines proper security and credit with features such as a maximum leverage of 1:500. Scandinavian Capital Markets Broker offers three trading accounts [Free forever, Growth, and Institutional], all of which have 24/5 support.

However, after more than ten years, as we mentioned in the Scandinavian Capital Markets Review, this broker has disadvantages, including the lack of proper training resources, which should be addressed in the future.