Scandinavian Capital Markets Rating
Scandinavian Capital Markets is an online trading platform that we are reviewing for you today, our expert writers have gone over each and every aspect of the trading platform in this Scandinavian Capital Markets review for you now in order to help you decide if you want to sign up with them or not. Is Scandinavian Capital Markets a scam or is it legit? Find out in the full review below or go to the Scandinavian Capital Markets website in the following link.
Scandinavian Capital Markets Review
Scandinavian Capital Markets is one of the most well-known STP-ECN forex brokers. It is a reputable firm with its headquarters in Stockholm, Sweden, supervised by Finansinspektionen (Swedish Financial Supervisory Authority). Read this Scandinavian Capital Markets review to learn about its outstanding features.
Scandinavian Capital Markets is a forex broker company with its headquarters in the Swedish capital. A group of financial professionals established Scandinavian Capital Markets in 2011. Traders can purchase and sell currencies through a Forex broker, which is a firm that provides them with access to trading platforms. Forex brokers are also referred to as retail FX brokers or currency trading brokers, depending on their location.
Scandinavian Capital Markets offers three types of accounts to its clients: Standard, Premium, and Custom. These accounts include competitive spreads, minimal trading commissions, and configurable, world-class, deep liquidity pools.
- Standard Account: Traders can open a Standard Account with spreads starting at 1.7 pip and a deposit of as little as $10,000.
- Premium Account: This account is likewise an ECN-style account, with spreads starting at 0.0 pips and a minimum deposit of $25,000.
- Custom ECN Account: this account requires a deposit of at least $250,000.
The right of traders to pursue their financial objectives in an open and fair trading environment is essential to Scandinavian Capital Markets, which is why it offers Islamic accounts compliant with Sharia laws.
Islamic accounts, also called swap-free accounts, are distinguished by the fact that they do not charge swaps or interest on positions, which is in accordance with Islamic principles. These accounts have swap fees replaced with daily administrative costs in place of the swap fees.
The MT4 forex trading platform is available with Scandinavian Capital Markets trading accounts. MT4 can be obtained for free from the company’s website. Many Forex traders begin their trading careers with MT4 and subsequently opt to stick with it because of the tools and resources for analyzing prices, placing trades, and managing their accounts.
Users of MT4 can personalize their charting down to their preferred color schemes to represent their personal tastes.
This forex broker believes in making forex transactions transparent, secure, and timely. As a result, the company keeps its clients’ cash in European banks with a high reputation level and handles them securely.
Deposits can be made with the use of a bank wire. Deposits are added to the client’s trading account within one business day of the funds being received by the Scandinavian Capital Markets’ banking institution. Deposits in the following currencies are accepted: USD, GBP, EUR, and SEK.
While withdrawal requests filed during business hours are completed within 24hrs on business days, those submitted over the weekend are only processed the following Monday.
Funds can only be refunded to the client’s bank account; no third-party banking arrangements are permitted. Withdrawals can take five business days to appear in a client’s bank account after being processed. Refunds and withdrawals can also be processed through the website’s client Portal.
Low Fee And Commission
Competitively low prices distinguish Scandinavian Capital Markets’ three account types. Its trading accounts are based on commission charges and raw spreads combined. All costs of the standard account are factored into the spread price.
The spreads offered by Scandinavian Capital Markets vary depending on the account type. Premium accounts are based on raw interbank spreads and charge 10 US dollars for every lot traded on MT4 and 100 US dollars per million exchanged on cTrader.
The Standard account spreads start at 1.7 pips. These extremely inexpensive fee rates can be further reduced for traders that trade in large volumes.
Potential traders can consider trying out Scandinavian Capital Markets because it is a broker that attempts to deliver high-quality trading services while also fully complying with all applicable rules and regulations. Because of the substantial minimum investment required, this broker is a suitable choice for experienced traders.
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