Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Scandinavian Capital Markets Pros & Cons
- Trading through MetaTrader 4 and cTrader with the opportunity to connect the FIX API;
- Automated trading and copy trading are available;
- Availability of a demo account;
- The broker offers partnership programs for passive income.
- The broker does not provide cent accounts;
- Limited choice of payment systems for depositing and withdrawing funds;
- Trading stocks, futures, indices, and options are not available.
Scandinavian Capital Markets is a Forex broker that has been operating in the financial market since 2011. The company offers trading currency pairs, cryptocurrencies, and precious metals. The broker's head office is located in Sweden, and Scandinavian Capital Markets SCM AB is registered with Finansinspektionen (Swedish Financial Supervisory Authority) under registration number 80438.
TU Expert Verdict
Scandinavian Capital Markets demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
Top-5 Brokers Traders Prefer
Scandinavian Capital Markets User Reviews
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5-star
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3-star
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2-star
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1-star
33%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria9 /10The trading and non-trading commissions of Scandinavian Capital Markets have been analyzed and rated as having Low fees, with a fees score of 9/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No deposit fee
- No withdrawal fee
- Inactivity fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Scandinavian Capital Markets with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Scandinavian Capital Markets’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Scandinavian Capital Markets Standard spreads Scandinavian Capital Markets OANDA FOREX.com EUR/USD min, pips 0.2 0.1 0.7 EUR/USD max, pips 0.6 0.5 1.2 GPB/USD min, pips 0.2 0.1 0.9 GPB/USD max, pips 0.8 0.5 1.4 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
Scandinavian Capital Markets RAW/ECN spreads Scandinavian Capital Markets OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 2 3.5 5 EUR/USD avg spread 0.2 0.15 0.2 GBP/USD avg spread 0.2 0.2 0.4 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Scandinavian Capital Markets. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Scandinavian Capital Markets Non-Trading Fees Scandinavian Capital Markets OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 25 0 15 -
Is Scandinavian Capital Markets Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria9.2 /10Scandinavian Capital Markets has a safety score of 9.2/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Track record over 19 years
- Strict requirements and extensive documentation to open an account
Scandinavian Capital Markets Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level
VFSC Full Name Vanuatu Financial Services Commission Country of regulation Vanuatu Investor Protection Fund No specific fund Regulation Level Tier-3 Abbreviation FI (Sweden) Full Name Swedish Financial Supervisory Authority (Finansinspektionen) Country of regulation Sweden Investor Protection Fund Up to €20,000 Regulation Level Tier-1 Scandinavian Capital Markets Security Factors Foundation date 2007 Negative balance protection YesVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.4.6 /10Scandinavian Capital Markets offers the following account options: Demo, Standard, ECN/Raw spread, Micro, Swap Free.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Demo account
- Swap Free (Islamic) account
- Forex account with Micro lots
- No VIP account option
- No Cent account
Scandinavian Capital Markets account types vs top competitors Scandinavian Capital Markets Plus500 OANDA Standard YesYesYesECN/Raw spread YesNoYesDemo YesYesYesCent NoNoNoMicro YesNoYesSwap Free YesNoYesVIP NoNoNoManaged NoNoNoScandinavian Capital Markets accounts trading conditions
Scandinavian Capital Markets offers several account types, the conditions of which can be customized by a client. Also, at the registration stage, you can choose a standard account or a trust account. The maximum leverage is 1:200 for currency pairs and 1:33 for cryptocurrencies. The minimum for the first deposit is $250, for all subsequent deposits it is $50.
Account types:
Account Type Description Live This is an account type that can be customized to suit a trader's needs. Basic settings are leverage of 1:200, availability of MT4 and cTrader, and no deposit fees. Traders can choose the account currency and spread, which will determine the trading fee; Demo It is a training account used for risk-free trading with virtual currency. It is good for novice traders who are trying out different trading strategies. It is configured according to the standard principles, but the conditions and quotes may differ because the main purpose of such accounts is to test trading platforms and apply theoretical knowledge in practice. A demo account is not limited in validity, provided that traders use it at least once every 30 days. Scandinavian Capital Markets is an STP broker that offers flexible trading account settings, so it is suitable for both novice and professional traders.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology6.8 /10Scandinavian Capital Markets received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
Scandinavian Capital Markets provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- USDT (Tether) supported
- No withdrawal fee
- Bank card deposits and withdrawals
- Minimum deposit below industry average
- Wise not supported
- BTC not available as a base account currency
- PayPal not supported
What are Scandinavian Capital Markets deposit and withdrawal options?
Scandinavian Capital Markets provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT.
Scandinavian Capital Markets Deposit and Withdrawal Methods vs Competitors Scandinavian Capital Markets Plus500 OANDA Bank Wire YesYesYesBank card YesYesYesPayPal NoYesYesWise NoNoNoBTC YesNoYesWhat are Scandinavian Capital Markets base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. Scandinavian Capital Markets supports the following base account currencies: USD, EUR, GBP.
What are Scandinavian Capital Markets's minimum deposit and withdrawal amounts?
The minimum deposit on Scandinavian Capital Markets is $0, while the minimum withdrawal amount is $500. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Scandinavian Capital Markets’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria5 /10Scandinavian Capital Markets offers a limited selection of trading assets compared to the market average. The platform supports 170 assets in total, including 55 Forex pairs.
- 55 supported currency pairs
- Indices trading
- Copy trading platform
- Bonds not available
- Crypto trading not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by Scandinavian Capital Markets with its competitors, making it easier for you to find the perfect fit.
Scandinavian Capital Markets Plus500 OANDA Currency pairs 55 60 68 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 170 2800 129 Stocks NoYesYesCommodity futures YesYesYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. NoYesYesStock indices YesYesYesOptions NoYesNoInvestment options
We also explored the trading assets and products Scandinavian Capital Markets offers for beginner traders and investors who prefer not to engage in active trading.
Scandinavian Capital Markets Plus500 OANDA Bonds NoNoYesETFs NoYesNoCopy trading YesNoYesPAMM investing YesNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at Scandinavian Capital Markets by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.10 /10We successfully registered an account with Scandinavian Capital Markets in 7 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at Scandinavian Capital Markets is $0. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Low minimum deposit requirement
- Quick KYC verification (1 business day or less)
- Account setup process may feel less convenient for beginners
Scandinavian Capital Markets account opening Scandinavian Capital Markets Plus500 OANDA Online Registration YesYesYesMinimum deposit $0 $100 $0 Mandatory KYC YesYesYesRegistration time (min) 7 10 KYC time (days) 1 3 3 Is Scandinavian Capital Markets available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
To start trading in the financial markets through Scandinavian Capital Markets, register a user account and open a trading account. The steps are as follows:
Go to the official Scandinavian Capital Markets website and click the “Open an account” button.
Complete the application for opening an account with your first and last names, date of birth, phone number, country, and email address. On the next page, select the user account type (personal or corporate) and the account type (trading or managed). Next, complete the questionnaire with your address, jurisdiction, identification number, and profession. Further, provide information on your income, choose a currency for the account, make a deposit, select your preferred leverage trading volume per trade, and the trading platform. Also, provide information on your marital status, as well as social, legal, and political status. Agree to the rules and privacy policy by clicking the “Complete and verify account” button.
Your user account is available upon verification. It is required to send copies of documents confirming your identity and registration address to the email that will appear in the message on the website. The verification procedure lasts from several hours to one day. Upon successful verification, clients will receive a letter with a notification and data for entering their user accounts.
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Trading platforms & tools
Score:This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles. Learn the assessment criteria7.3 /10Scandinavian Capital Markets received a score of 7.3/10, reflecting an average offering in terms of trading platforms and tools. The broker covers essential functionality but may fall short in some advanced features or platform diversity compared to leading competitors.
- Free VPS for uninterrupted trading
- cTrader with advanced tools and Level II pricing
- One-click trading
- Trading bots (EAs) allowed
- No access to API
- No access to a proprietary platform
- No TradingView integration
Supported trading platforms
Scandinavian Capital Markets supports the following trading platforms: MT4, MT5, cTrader. This selection covers the basic needs of most retail traders. We also compared Scandinavian Capital Markets’s platform availability with that of top competitors to assess its relative market position.
Scandinavian Capital Markets Plus500 OANDA MT4 YesNoYesMT5 YesNoYescTrader YesNoNoTradingView NoYesYesProprietary platform NoYesYesNinjaTrader NoNoNoWebTrader NoYesYesKey Scandinavian Capital Markets’s trading platform features
We also evaluated whether Scandinavian Capital Markets offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.
Supported features 2FA YesAlerts NoTrading bots (EAs) YesOne-click trading YesScalping NoSupported indicators 104 Tradable assets 170 Additional trading tools
Scandinavian Capital Markets offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.
Scandinavian Capital Markets trading tools vs competitors Scandinavian Capital Markets Plus500 OANDA Trading Central Trading Central is a leading provider of investment research and financial market commentary. Integration with Trading Central offers traders advanced analytics, trading signals, and expert market insights, aiding in more informed decision-making. NoNoNoAPI NoNoYesFree VPS YesNoYesStrategy (EA) builder A Strategy or EA builder is a tool that allows traders to create and test their own automated trading strategies without requiring programming skills. NoNoYesAutochartist Autochartist is a market scanning tool that identifies trading opportunities by analyzing chart patterns and key price levels. NoNoYes -
Mobile Apps
Score:This section assesses the quality and functionality of the broker’s mobile trading apps. It takes into account app ratings, number of downloads, platform features such as two-factor authentication (2FA), mobile alerts, and technical indicators, ensuring traders can manage positions and monitor markets effectively from their smartphones. Learn the assessment criteria3 /10Scandinavian Capital Markets supports mobile trading, offering dedicated apps for both iOS and Android. Scandinavian Capital Markets received 3/10 in this section, which suggests limited user interest or weak performance of the apps.
- Indicators supported
- Mobile alerts supported
- Mobile 2FA not supported
- Weak user feedback on iOS
We compared Scandinavian Capital Markets with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.
Scandinavian Capital Markets Plus500 OANDA Total downloads The parameter reflects the combined number of installations from both the Apple App Store and Google Play. It serves as an approximate indicator of the broker’s mobile trading app popularity and user adoption across platforms. 50,000 10,000,000 1,000,000 App Store score App store scores reflect the average user ratings of the broker’s mobile applications on the Apple App Store and Google Play. These ratings indicate user satisfaction based on criteria such as usability, stability, performance, and overall experience. 0 4.7 4.8 Google Play score 0 4.4 3.4 Mob. 2FA NoYesYesMob. Indicators YesYesYesMob. Alerts YesYesYes -
Customer Support
Score:We evaluated Customer Support at Scandinavian Capital Markets by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria1.4 /10Scandinavian Capital Markets demonstrates a low level of customer support reliability. Contacting support can be difficult, and responses may be significantly delayed or incomplete.
During testing, managers were slow to respond or failed to provide sufficient assistance. Such a support level may create risks for traders who require timely issue resolution.
InformationSupport service is available 24/5.
- Non-clients of the broker can contact technical support
- Availability of live chat for quick communication
- Support is not available on weekends
- Call back is not available
To contact the broker, use the following methods:
- phone;
- live chat;
- email;
- feedback form.
The fastest ways to contact support are via live chat and by phone.
Contacts Foundation date 2007 Registration address Scandinavian Capital Markets SCM AB, Torshamnsgatan 27 Kista 164 40 Sweden Regulation FSA Sweden Licence number:
556863-5972.Official site https://scandinavianmarkets.com/ Contacts support@scandinavianmarkets.com +46 8 446 85920
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FAQs
How is Scandinavian Capital Markets regulated and what safety measures are highlighted in the review?
Scandinavian Capital Markets has a safety score of 9.2/10 and is described as having a High security level, with regulation by the Swedish Financial Supervisory Authority (FI, Tier-1) and the Vanuatu Financial Services Commission (VFSC, Tier-3). The review notes negative balance protection, KYC verification, a foundation date of 2007, and an investor protection fund of up to €20,000 under the Swedish regulator, while VFSC does not have a specific compensation fund mentioned.
What commissions, spreads, and non-trading fees are detailed for Scandinavian Capital Markets?
The review states that Scandinavian Capital Markets has low overall fees with a score of 9/10, featuring tight EUR/USD spreads on Standard accounts (typically 0.2–0.6 pips) and ECN/RAW accounts with a $2 per lot commission and around 0.2-pip average spreads on EUR/USD and GBP/USD. Non-trading fees include no deposit or withdrawal fees, but there is an inactivity fee of $25 per month.
What account types and trading conditions does Scandinavian Capital Markets offer?
Scandinavian Capital Markets provides Demo, Standard, ECN/Raw spread, Micro, and Swap Free (Islamic) accounts, but does not offer Cent, VIP, or managed accounts. The review notes a minimum first deposit of $250 (with $50 for subsequent deposits), maximum leverage of 1:200 for currency pairs and 1:33 for cryptocurrencies, and customizable Live accounts with MT4 and cTrader access.
What do reviews say about Scandinavian Capital Markets’ mobile trading apps?
The mobile apps for Scandinavian Capital Markets support indicators and trading alerts on both iOS and Android, but the section assigns a low mobile score of 3/10, indicating limited user interest or weak performance. The review also notes that mobile 2FA is not supported and that user feedback on the Android app is described as weak, while specific store ratings are listed as 0 in this section.
How is customer support at Scandinavian Capital Markets described in the review and user feedback?
Customer support at Scandinavian Capital Markets is rated with a low safety score of 1.4/10, and the review notes that contacting support can be difficult, with slow or incomplete responses during testing. Support is available 24/5 via phone, live chat, email, and feedback form, and while non-clients can contact support and live chat is available, there is no weekend support or call-back option mentioned.
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