Scandinavian Capital Markets Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of Scandinavian Capital Markets trading signals. You will learn what kinds of trading signals Scandinavian Capital Markets offers and what the conditions for using them are.
Short introduction of Scandinavian Capital Markets
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.
| 💰 Account currency: | USD, EUR, and GBP |
| 🚀 Minimum deposit: | $250 |
| ⚖️ Leverage: | Up to 1:200 for currencies and up to 1:33 for cryptocurrencies |
| 💱 Spread: | From 0 pips |
| 🔧 Instruments: | Currency pairs (70+), metals (4), and cryptocurrencies (30+) |
| 💹 Margin Call / Stop Out: | 100%/80% |
Scandinavian Capital Markets Pros and Cons
👍 Advantages of trading with Scandinavian Capital Markets:
•Opportunity to choose optimal trading conditions due to flexible settings when opening an account;
•Trading through MetaTrader 4 and cTrader with the opportunity to connect the FIX API (a protocol for the rapid exchange of large amounts of financial information);
•Automated trading and copy trading are available;
•Availability of a demo account;
•The broker offers partnership programs for passive income.
👎 Disadvantages of Scandinavian Capital Markets:
•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.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
Scandinavian Capital Markets Trading Signals
TU specialists analyzed trading and non-trading fees of Scandinavian Capital Markets. Since clients can create account conditions themselves, a trading fee depends directly on spreads which range between $0-$3.5 per lot. The larger the spread, the lower the fee. The broker may charge a $25 fee for withdrawals made by wire transfer. Also, there is a fee of $20 per month for accounts that have been inactive for more than 6 months.
| Account type | Spread (minimum value) | Withdrawal commission |
| With a minimum fee of $0 | $20 | May be charged for withdrawals made by bank transfer |
| With an average fee of $2 | $10 | May be charged for withdrawals made by bank transfer |
| With a maximum fee of $3.5 | $0 | May be charged for withdrawals made by bank transfer |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Scandinavian Capital Markets does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
Is automatic position opening based on signals possible?
Yes, it is what copy trading implies. In this case, all trades are copied automatically to the trader’s platform.
Can I lose money by trading signals?
Keep in mind that there are no ideal trading signals and trading signals may lead to a loss of funds. There are always risks.
Can trading signals depend on the account type?
Yes. As a rule, they are provided for certain account types, but may also be available for the standard account.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.