Scandinavian Capital Markets Broker Review

Scandinavian Capital Markets is a premier STP-ECN forex broker. Company is based in Sweden and offers its client a gateway to the professional forex trading environment. The broker is authorized and registered with the Swedish Financial Supervisory Authority (FSA) and Vanuatu Financial Services Commission (VFSC).

Company profile

Scandinavian Capital Markets was founded by a team of financial professionals under the guidance of Arif Alexander Ahmad and Michael Buchbinder in 2011. The company was originally established as a wealth management firm and obtained registration for the forex market a year later.

After five years in business Sweden’s first STP-ECN Brokerage was launched in 2017 and continued to grow into a company that provides the best technology platforms and customer service in the trading industry.

Broker is authorised and registered with the Swedish Financial Supervisory Authority (FSA) and Vanuatu Financial Services Commission (VFSC).

Key information

Scandinavian Capital Markets believes in a traders’ right to pursue their financial goals in a fair trading environment, hence offering true Straight Through Process accounts type, and also offering Islamic accounts compliant with Sharia rules.

Islamic accounts are also known as swap-free accounts since they imply no swap or rollover interest on overnight positions, in harmony with the Islamic faith. On these accounts, the swap fees are replaced with daily administration charges.

Deposits and withdrawals

Deposits are credited to the client’s trading account within one business day from the moment they reach the broker’s bank. The company accepts deposits only via Bank wire which may seem like a limitation. But it is the most reasonable and safe way to send money. And, safety is the number one priority for Scandinavian Capital Markets. Deposits are accepted in USD, EUR, and GBP.

Withdrawal process is very fast. The requests are processed within 24 hours on business days. Requests submitted during weekends are processed on Mondays.

Also, there are no additional commissions for deposits or withdrawals.

Leverage

Scandinavian Capital Markets’ Swedish entity offers up to 100:1 leverage for all account types.  Through their Vanuatu entity however, they are able to offer up to 500:1 leverage.  

In conclusion

Scandinavian Capital Markets is a broker that strives not only to provide quality trading service, but also fully compliant to necessary laws and regulations. In other words, the broker is a safe one due to its obligatory conditions and constant overseeing of its business.

Companies like Scandinavian Capital Markets who are on the Finansianspektionen’s list of registered brokers, promote transaction transparency, no conflict of interest, and are highly trusted worldwide.