FAQ

Answers to most common questions are gathered in this section. If you cannot find the answer, do not hesitate to contact us for assistance.

Company

Scandinavian Capital Markets has its headquarters at Kistagången 16, Stockholm, Sweden.
Where is Scandinavian Capital Markets registered?
Scandinavian Capital Markets is registered with the Swedish Financial Supervisory Authority (Finansinspektionen) under No. 80438. Company Registration No. 556863-5972.
Is there a company register where I can confirm your status?
Please use this link to the Swedish Financial Inspection (Finansinspektionen) corporate register to confirm the status of Scandinavian Capital Markets SCM AB: https://www.fi.se/sv/vara-register/foretagsregistret/details?id=115111
What does it mean: registered, not under FI's supervision?
It means that FX is not classified as a financial instrument in Sweden and is thus not subject to supervision like other asset classes.
Who founded Scandinavian Capital Markets?
Scandinavian Capital Markets was founded by a group of senior trading professionals from Sweden with extensive experience in the FX market. The management has held many senior roles in institutional financial companies and has been able to utilize that knowledge in Scandinavian Capital Markets.
Does Scandinavian Asset form part of Scandinavian Capital Markets?
Correct, Scandinavian Asset is a website operated by Scandinavian Capital Markets, where we showcase our Forex Managed Accounts service.
Do you accept clients from all countries?
We offer our services to residents of all countries except for the U.S., Afghanistan, Belarus, Burma, Burundi, Central African Republic, China, Congo, Cuba, Egypt, Guinea, Guinea-Bissau, Indonesia, Iran, Iraq, Japan, Lebanon, Lesotho, Libya, Maldives, Mali, Moldova, Nicaragua, Nigeria, North Korea, Pakistan, Russia, Somalia, Sudan, South Sudan, Syria, Tunisia, Turkey, Venezuela, Yemen, and Zimbabwe. Due to the Dodd-Frank regulation we only accept US clients if they meet the criteria of an Eligible Contract Participant (ECP).
Do you accept clients from the US?
Please be advised that we can only consider accepting US-based clients if they meet the criteria of an Eligible Contract Participant (ECP). For individuals, the criterion is $10M+ aggregated discretionary investments in their own name or $5M if hedging.
Do you report taxes?
It is your responsibility to report and pay your tax according to the laws of your local jurisdiction.

Funds

Scandinavian Capital Markets is a true STP/ECN Forex broker. This means that we aggregate the best bid and ask prices from deep liquidity pools in the underlying FX market. These prices are provided by top-tier investment banks.
How are my funds protected?
Scandinavian Capital Markets holds client deposits in segregated accounts with Tier One banks, which means client funds are never commingled with the company assets. As such, client funds are only used to cover margin for the clients trading purposes and are never used in the company’s balance sheet.
Are the client funds segregated?
Client funds are held segregated in top-tier European banks.
Which banks are client funds held in?
Client funds are held in top-tier European banks.
What is the minimum investment?
The minimum investment is $5,000, which is available only for certain strategies. Most of the strategies require a minimum investment of $10,000 in order for the trading to work properly.
What funding options is available?
Scandinavian Capital Markets only accepts bank wire transfer as a funding method.
Do you charge any conversion fees?
Scandinavian Capital Markets always converts at the spot rate.
Do you charge withdrawal or deposit fees, any interest or monthly maintenance fees?
We do not charge any kind of withdrawal or deposit fees, interest or monthly maintenance fees. Our bank applies a flat fee on withdrawals: USD 25, EUR 25 and GBP 27. Please also bear in mind your bank might charge some fees for these operations. We recommend you to check with your bank.
Can I deposit EUR into a USD account?
Yes, but the bank will convert your funds upon arrival at not the most favourable rate.
How long does it take for withdrawals to be processed?
Provided that all trades in the account are closed, withdrawals are processed within one business day.
What should I write in payment details when funding my account?
Please write your name and your trading account number.

Accounts

All investment strategies operate in USD. Your trading account will be a USD account. You can deposit funds in a different currency but they will be converted by our bank upon receipt.
How do I sign up for a corporate account?
Please proceed to our Application Page. Start filling out your application and select Corporate Account on the second step.
How long does it take for my application to be approved?
Account registration applications are approved within 24 hours.
Does it cost anything to open or maintain an account with you?
Scandinavian Capital Markets does not charge any fees for opening or maintenance of accounts.
How do I submit a withdrawal request?
To request a withdrawal, log in to the Client Portal, click the Withdrawals tab, and submit the form.
How can I close my account?
Send an email to support@scandinavianmarkets.com. If your account is managed, you also need to submit an LPOA revocation.

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Scandinavian Capital Markets is a STP-ECN forex broker. Our company is built on extensive knowledge of the foreign exchange market, expertise in technology, and a commitment to creating trusted long-term relationships with our clients, institutional money managers and professional traders.

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Getting Started

Scandinavian Capital Markets SCM AB is a Registered Financial Institution with the Swedish Financial Supervisory Authority, Finansinspektionen, under No. 80438. Company Registration No. 556863-5972.

All transactions on the currency spot market are speculative and all investments should be made using risk capital that is not crucially required. There may be a considerable risk of losses on the currency spot market and all transactions using Scandinavian Capital Markets SCM AB are at risk of capital loss. You should consider carefully whether such investments are appropriate to you, taking into account your financial assets. We advise everyone to seek independent advice regarding issues concerning investments on the currency spot market. No information on this website should be understood to constitute financial advice from Scandinavian Capital Markets SCM AB. It is published for information and marketing purposes. Scandinavian Capital Markets does not accept clients from the U.S., Afghanistan, Belarus, Burma, Burundi, Central African Republic, China, Congo, Cuba, Egypt, Guinea, Guinea-Bissau, Iraq, Iran, Indonesia, Lebanon, Lesotho, Libya, Maldives, Mali, Moldova, Nicaragua, Nigeria, North Korea, Pakistan, Russia, Somalia, Sudan, South Sudan, Syria, Tunisia, Turkey, Venezuela, Yemen, and Zimbabwe. Scandinavian Capital Markets may reject any applicant from any jurisdiction at their sole discretion without the requirement to explain the reason why.